Ekniti pitches first Thai BOI-to-IPO listing to Japan on Oct 7

Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas called for a Japanese company to make the first stock-market debut under a planned Thai scheme linking investment promotion with capital-market fundraising. Speaking at a Bangkok forum on October 7, 2026, Ekniti outlined additional incentives and faster procedures intended to encourage Japanese businesses to expand and raise capital in Thailand.

The Board of Investment (BOI) and the Stock Exchange of Thailand (SET) are developing the “BOI-to-IPO” initiative to help investment-promoted businesses, including foreign companies operating in Thailand, list and raise capital through initial public offerings (IPOs). Ekniti presented the proposal as part of the government’s Quality Investment-led Growth strategy to generate long-term economic benefits.

The BOI organised the Thailand–Japan Investment Forum 2026 under the theme “Investment Gateway for Sustainable Growth”.

BOI and stock exchange discuss listing incentives

Discussions between the BOI and SET on putting the initiative into practice are continuing, Ekniti said. The government is preparing additional benefits alongside “Fast Track” and “Super-Fast Track” procedures to make access to Thailand’s capital market quicker and easier and strengthen the country as a comprehensive investment base.

Ekniti said he wanted a Japanese company already operating in Thailand to become the programme’s first listed business, reflecting Japan’s longstanding role as an economic partner. Ekniti had discussed the proposal with executives of the Japan External Trade Organization (JETRO).

“I have spoken to JETRO’s executives and told them that I would like the first company to make its debut under BOI-to-IPO to be Japanese, one of the companies represented in this room that has invested in Thailand,” Ekniti said. “We will provide Fast Track and Super-Fast Track procedures, as well as various incentives, so that investors in Thailand can grow alongside the country.”

New investment, clean energy and AI form three further pillars

Beyond finance and capital-market access, Ekniti identified three further pillars of the Quality Investment-led Growth strategy: new investment, clean energy and artificial intelligence (AI).

1. New investment: The government plans to work with the private sector to promote investment in seven target industries that match Thailand’s strengths.

2. Clean energy: The government plans to build and modernise green energy infrastructure, both to meet environmental goals and to manage businesses’ energy costs. Preparations also include a carbon credit market connected to international trading.

3. Artificial intelligence: “All in AI” would support infrastructure throughout the supply chain, including data centres, optical transceivers used to transmit data through light, and advanced chips. The complementary “AI in All” approach would encourage businesses and the public to use AI to improve efficiency and productivity across the economy.

Japanese investment applications approach 400 billion baht over five years

Japanese investors submitted more than 1,300 projects with a combined investment value of nearly 400 billion baht over the past five years, according to BOI secretary-general Narit Therdsteerasukdi. Electronics and semiconductors, automotive and parts, and chemicals and petrochemicals attracted the largest investments.

Japan ranked fourth by annual investment value over the past three years but remained Thailand’s largest investor by cumulative value, Narit said.

Japan’s industrial partnership with Thailand spans more than 60 years, with Japanese businesses contributing investment, technology transfer and employment. The value of their applications for investment promotion has increased every year over the past five years.

Investment promotion applications from all countries reached a record value of more than 1.4 trillion baht, approximately 7 trillion yen, in the first half of 2026, Narit said. The BOI’s published half-year figures record 1,299 projects. 

BOI promotes six industries and more Japanese headquarters

The BOI is pursuing foreign direct investment in six priority industries under the government’s policy of promoting quality investment, Narit said, while encouraging Japanese businesses to expand their manufacturing, headquarters and research activities in Thailand.

1. Bio-circular-green economy and green industries: Priority activities include smart agriculture, future foods, medical and healthcare services, clean energy and bio-based products.

2. Automotive and electric vehicles: Thailand is following a “multi-pathway” approach similar to Japan’s, supporting battery electric, hybrid, plug-in hybrid and fuel-cell vehicles to develop a comprehensive automotive ecosystem. Honda, Mitsubishi Motors, Mazda and Isuzu have announced combined additional investment plans exceeding 50 billion baht in Thailand over the next five years.

3. Semiconductors and advanced electronics: Companies including Sony Semiconductor, Toshiba, ROHM Integrated Systems (Thailand), Murata and Panasonic are expanding investment to meet global demand for chips and electronics.

4. AI and digital infrastructure: The BOI is promoting data centres and cloud services, with investors including NTT. Thailand also has an established manufacturing role in the AI supply chain, covering optical transceivers, networking and cooling systems, hard disk drives and AI servers.

5. Automation, robotics and humanoid robots: Investment promotion is intended to improve manufacturing efficiency and support emerging technologies.

6. International business centres: The BOI has approved nearly 500 regional headquarters projects, 40% of them involving Japanese companies. Narit invited more than 6,000 Japanese companies with manufacturing bases in Thailand to consider adding regional headquarters and research and development centres.