BOI moves to clear 1.3 trillion baht in pending investment licences ahead of ‘Fast Pass’ rollout
Thailand’s BOI is accelerating approval of nearly 1.3 trillion baht in pending investment applications as the government prepares its Fast Pass programme to unlock bottlenecks and inject over 300 billion baht into the economy.
The Board of Investment (BOI) is rushing to clear a backlog of investment licences worth almost 1.3 trillion baht, as the government prepares to implement the Fast Pass programme — a rapid investment facilitation scheme aimed at removing bureaucratic bottlenecks and boosting economic activity.
The initiative follows the Ministry of Finance’s plan to propose an urgent investment-promotion package expected to unlock more than 300 billion baht into the economy from over 470 billion baht currently stuck in the pipeline.
Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas revealed that investors have submitted proposals to the BOI worth around 1.3 trillion baht, with over 90% of them waiting to proceed with investment in Thailand. Many are stalled by licensing hurdles and lengthy approval processes. Among these are more than 70 large-scale projects valued at over 1 billion baht each.
BOI secretary-general Narit Therdsteerasukdi explained that most delays stem from difficulties in obtaining business operation permits from various agencies.
For example, data centre projects often face delays while waiting for an official power supply capability certification from electricity authorities.
Other obstacles include:
- Urban planning and land-use regulations
- Visa and work-permit procedures
- Industrial operation certificates, including the key Ror Ngor 4 (Factory Licence No.4)
Narit confirmed that the Department of Industrial Works (DIW) will incorporate the Ror Ngor 4 process into the Fast Pass mechanism but emphasised:
“Ror Ngor 4 is not the biggest problem. Fast Pass is designed to accelerate all processes — not only factory licences but every major permit.”
DIW director-general Pornyod Klankrong said that fewer than 30% of factory applicants are awaiting their Ror Ngor 4 licence. He noted that 70% of applications have already been approved.
Most delays occur in factories dealing with gas-related activities, while general industrial factories face few issues.
The remaining 30% of problematic cases fall under two regulated factory types that are still categorised under a single umbrella law and have not yet been separated:
- Type 105 factories: waste sorting and landfill operations
- Type 106 factories: industrial recycling or reprocessing of used materials into new raw materials or products
These categories require stricter scrutiny, contributing to longer approval times.
With Fast Pass, the government aims to streamline cross-agency coordination, accelerate licensing, and ensure that investment capital enters Thailand’s economy more quickly — strengthening competitiveness and restoring investor confidence.
