BOI plans to promote investment in ‘green’ industries
The Board of Investment of Thailand (BOI) has unveiled its strategic plan for the next four years (2024-2027) with a focus on promoting investment in bio, circular and “green” (BCG) industries.
Speaking at the “Go Thailand: Green Economy-Land Bridge” forum in Bangkok on Thursday, BOI secretary-general Narit Therdsteerasukdi said the focus on BCG is in line with the global trend of sustainability in business operations.
“From BOI’s roadshow activities overseas, we have found that foreign investors prioritise the reduction of greenhouse gases and the use of clean energy in their operations,” said Narit.
“This trend will shape the landscape of investment in the next five years, while other external factors will also play a part,” he said. He added that these factors include climate change, geopolitical conflicts, technological advancement, demographic structure, and a change in national tax policies due to the impact of climate change.
The agency believes that by increasing BCG investment from its current 21% of total investment to 24% by 2027, the country’s gross domestic product (GDP) would expand from 3.4 to 4.4 trillion baht (US$ 127 billion), while transforming Thailand into a BCG hub in the Asean region.
Narit also reported that seven Japanese automakers have proposed investment plans in Thailand in the next five years, with a combined investment value of 150 billion baht (US$4.33 billion), mostly in transitioning to electric vehicle (EV) manufacturing.
These companies are Toyota, Mitsubishi, Honda, Isuzu, Suzuki, Nissan and Mazda. They are among the 10 companies that attended a business discussion with Prime Minister and Finance Minister Srettha Thavisin while he was in Tokyo last week for the Japan-Asean 50th Anniversary Summit.
The business talk was part of the Thailand-Japan Investment Forum that BOI hosted in Tokyo, joined by over 500 Japanese business leaders.
Narit added that the other three companies – Panasonic, Kubota and Mitsui – are not directly involved in automotive manufacturing but are interested in investing in BCG related fields, such as battery manufacturing, agricultural machinery, and sustainable aviation fuel.
