BOI adds 17 projects worth THB121 billion to Thailand FastPass
Thailand FastPass adds 17 projects worth over THB121 billion, with 14,000 Thai jobs planned, taking total investment plans past THB344 billion.
Thailand’s Board of Investment (BOI) has selected 17 additional projects from 15 companies for the Thailand FastPass mechanism, representing planned investment of more than THB121 billion and employment for over 14,000 Thai workers.
BOI secretary-general Narit Therdsteerasukdi said the board had selected the projects from those that had already submitted applications for investment promotion.
The latest additions span four industry groups: animal feed, processed food, electronics and electrical appliances, and automotive manufacturing and components.
Electronics leads the new investment
Electronics and electrical appliances account for the largest share, with 10 projects representing more than THB83.9 billion in investment.
Two processed-food projects involve investment exceeding THB24.3 billion, while two animal-feed projects account for more than THB8.8 billion.
The remaining three projects are in automotive manufacturing and components, with combined investment of more than THB4.3 billion.
Actual investment exceeds THB21bn
Before the latest additions, Thailand FastPass covered 25 projects from 23 companies in industries considered strategically important to the country. Those projects represented investment exceeding THB223 billion, with plans to create more than 13,000 quality jobs.
All 25 projects have received investment promotion approval. Of these, 11 have also secured all necessary licences and approvals from the relevant agencies within the timeframes set out in their service-level agreements (SLAs).
The remaining 14 projects are either submitting permit applications or planning to do so.
Actual investment under the FastPass mechanism has already exceeded THB21 billion.
Combined portfolio targets more than 27,000 Thai jobs
With the latest additions, Thailand FastPass now covers 42 projects, representing planned investment of more than THB344 billion and employment for over 27,000 Thai workers.
The mechanism is designed to accelerate approvals and licensing by the relevant agencies, resolve obstacles to project implementation and bring forward actual investment.
The projects are expected to create jobs, support the use of domestically sourced raw materials and components, promote technology transfer and strengthen the capabilities of Thai industry.
