Thai Investment Board Launches ‘FastPass’ to Unlock $8.2 Billion in Major Projects
BOI teams up with 7 key agencies to slash permit processing times by up to 50%; moves swiftly to resolve critical bottlenecks in power, land, and visas
- The Thai Board of Investment (BOI) has launched the 'FastPass' system, a collaboration with seven government agencies, to reduce permit and approval processing times by up to 50%.
- The initiative is designed to accelerate 74 major investment projects approved in 2023-2024, which are collectively valued at over 300 billion baht (approx. $8.2 billion).
- 'FastPass' specifically targets and resolves critical bottlenecks for investors related to electricity supply, land provision, and the issuance of visas and work permits.
BOI teams up with 7 key agencies to slash permit processing times by up to 50%; moves swiftly to resolve critical bottlenecks in power, land, and visas.
The Thai Board of Investment (BOI) has secured approval for the first phase of its ‘FastPass’ system, a major initiative aimed at accelerating investment in large-scale projects across the country.
The BOI Board, chaired by Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas, approved the plan on November 10, 2025. The core objective is to rapidly propel investment under the government’s “Quick Big Win” policy by tackling persistent bureaucratic hurdles.
According to BOI' secreatary-general Narit Therdsteerasukdi, the initial phase of the FastPass system involves a collaborative effort between seven crucial government agencies: the BOI, the Department of Industrial Works, the Industrial Estate Authority of Thailand (IEAT), the Office of Natural Resources and Environmental Policy and Planning (ONEP), the Immigration Bureau, the Department of Employment, and the Eastern Economic Corridor (EEC) Office.
The integration is expected to reduce the time required for vital approvals and permits by 20% to 50%.
The board has also established a dedicated Investment Acceleration Subcommittee (FastPass) to oversee the process and expand the system to cover all main licensing steps required to start a business in Thailand.
In addition to launching FastPass, the meeting addressed the progress made in removing three major, cross-sector obstacles affecting the Ease of Doing Business:
Electricity Supply: To meet the high power demands of projects, particularly data centres, the Energy Regulatory Commission (ERC) is fast-tracking a mechanism for operators to provide a network usage guarantee. This will enable electricity authorities to immediately plan and expand the transmission network. Furthermore, the ERC is set to finalise criteria and fees by the end of 2025 for Utility Green Tariff (UGT2) and Direct Power Purchase Agreements (Direct PPA), expanding clean energy options for investors.
Land Provision: The Department of Public Works has been instructed to work with the EEC and IEAT to review and revise town planning to designate more areas for industrial estate development. This includes speeding up the Environmental Impact Assessment (EIA) approval for industrial land and resolving pending issues related to public thoroughfares.
Visas and Work Permits: Measures were approved to expedite e-Visa issuance for BOI-approved personnel to 1-5 working days at embassies. Capacity at the One-Stop Service (OSS) Centre is being increased from 200 to 500 queues per day, while the Department of Employment addresses technical issues with its e-Work Permit system to ensure seamless integration with the BOI's faster Single Window system.
The BOI reported that it is closely monitoring 74 large-scale investment projects approved during 2023-2024, collectively valued at over 300 billion baht (approx. $8.2 billion USD).
Approximately 80% of these projects are progressing well, with 32 projects (160 billion baht/$4.4 billion USD) already commencing investment and 28 projects (82.5 billion baht/$2.3 billion USD) slated to begin between late 2025 and 2026. The remaining 14 projects are under review due to economic or technological shifts.
In line with global trends in AI and cloud services, the board approved revised promotion conditions for data centres to ensure sustainable benefits for Thailand:
Local Hiring: Management and expert roles must include at least 50% Thai nationals within three years.
Incentives: Corporate income tax exemptions were adjusted to 5-8 years for investment outside the EEC and 3-5 years within the EEC, incentivising regional distribution.
Separately, the board approved four major data centre projects with a combined investment of nearly 100 billion baht (approx. $2.75 billion USD), including Hyperscale facilities by Nextgen and Zenith, aimed at solidifying Thailand's position as a regional digital hub.
