What is BOI? How important is it to investment?

What is BOI? How important is it to investment?

The Office of the Board of Investment or BOI (Board of Investment) is a government agency responsible for promoting investment in Thailand. Both Thai and foreign investors, with the BOI's main duty being to provide assistance and convenience to investors in investing in Thailand. Including providing appropriate investment benefits and incentives to encourage investors to decide to invest in Thailand.

History of BOI

If you ask what BOI is, you have to start with BOI established on June 29, 1961 under the Investment Promotion Act of 1960 with the objective of promoting investment in Thailand. and develop the country's economy to grow sustainably

In the beginning, the BOI played an important role in attracting foreign investment to Thailand. The BOI established Special Economic Zones (SEZs) to provide infrastructure services and special benefits to foreign investors. As a result, Thailand receives a continuous increase in foreign investment.

Later, the BOI expanded the scope of investment promotion to Thai businesses. The BOI issued investment promotion measures for high-technology businesses. Environmentally friendly business and businesses that benefit the community

The role of BOI

BOI plays an important role in promoting investment in Thailand. BOI performs the following duties:

  • Study and analyze investment trends in the world and Thailand.
  • Establish policies and measures to promote investment.
  • Provide information and assistance to investors
  • Negotiate and coordinate with government agencies and the private sector.

BOI benefits

Investors who receive promotion from the BOI will receive the following benefits:

  • Exemption from corporate income tax
  • Corporate income tax reduction
  • Exemption of import duties on machinery and raw materials
  • Permission to bring funds into or take funds out of Thailand

BOI benefits vary according to the type of business and the specified conditions. The greatest benefit that investors receive is exemption from corporate income tax for 8-15 years.

BOI performance

What is the success of the BOI? It is to attract foreign investment and stimulate the country's economic growth. The BOI has promoted investment in more than 10,000 projects, with an investment value of over 1.5 trillion baht.

Foreign investment coming into Thailand It creates many economic benefits as follows:

  • Increase employment and income for the people
  • Increase export value
  • Increase export value
  • Expand production base and international trade

Direction of BOI's operations

BOI is committed to developing Thailand into an investment center in Southeast Asia. BOI will focus on promoting investment in targeted industries (S-Curve) and environmentally friendly industries.

Target industries (S-Curve) consist of 5 industry groups:

  • electric vehicle industry
  • Digital industry and technology
  • Biological and medical industries
  • Tourism and service industries
  • Robotics and automation industry

BOI believes that investing in targeted industries will help drive the country's economy to sustainable growth.

Suggestions for BOI

In order for the BOI to achieve its goal of promoting investment in Thailand. There are some suggestions as follows:

  • The BOI should improve benefits in line with the changing economic and social context.
  • BOI should focus on building cooperation with government and private agencies.
  • The BOI should develop a service system that is efficient and convenient for investors.

BOI is an important mechanism for promoting investment in Thailand. BOI plays an important role in attracting foreign investment and stimulating the country's economic growth. If BOI is operated effectively, It will help drive the country's economy to grow sustainably.

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