Thailand’s Board of Investment (BOI) has approved six projects worth a total of $1.1 billion that include an electric vehicle factory, a waste-to-energy power plant and a data center, as the Kingdom continues to draw firms from diverse countries and sectors to its shores.

"Investment in Thailand continues to improve, thanks to the government's incentive packages that attract investors," said Narit Therdsteerasukdi, Secretary-General of the BOI.

The Thai Government has developed a range of investment incentives, tax breaks and privileges, especially for high-technology, green and advanced industries so it can accelerate the Kingdom’s transition to a higher level of development.

Among the industries the government prioritizes are advanced automotive, renewable energy, advanced medical and wellness, digital industries, and aerospace and aviation, among others.

Nearly all the new investments fit into those categories, a positive sign that the policies are helping to attract the type of industries Thailand is seeking as part of its national strategy.

Two of the new investments involve renewable energy development. The BOI approved a $134-million investment project by C&G Environmental Protection (Thailand) to build a 35-megawatt waste-to-energy power plant on the outskirts of Bangkok, and a $100-million investment project by New Sky Energy (Thailand) to build a waste-to-energy power plant at a waste disposal center in the capital.

The BOI also approved Chinese EV automaker Changan’s $240-million investment plan for EV battery production plant. This will be the company’s first production plant outside of China.

Local telecoms firm True won approval for a $100-million data center, while Thai Airways International was cleared to invest $255 million in purchasing five passenger aircrafts, with total passenger capacity of 1,670 seats.

Photo courtesy of https://www.boi.go.th/