Foreign investors are increasingly interested in investing in Thailand, primarily because of its numerous favorable factors, as well as its distance from international conflicts. Actors in the business sector aim for risk management in manufacturing, so they are looking for a neutral country like Thailand to be a safe place for establishing a production base. In 2023, the Board of Investment (BOI) approved a new five-year investment promotion strategy (2023-2027) throughnine measures to attract investment important to the country development, in the following areas: 

• The manufacturing of fuel-cell electric vehicles (FCEV) and battery swapping stations;
• Generation of hydrogen-based electricity, including continuous products, such as green ammonia, hydrogen production from hydrocarbon or fossil fuel;
• The production of “food for the future,” such as novel food and organic food, and better health claims in food labeling;
• Space-related businesses, such as the manufacturing of mechanical and electronic parts for satellites or space objects. 

          Investors in these industries are entitled to A1+ benefits, which include tax exemption for 10 to 13 years, along with other benefits, such as import duty exemption on machinery, import duty exemption for imported materials used in export production. Non-tax privileges include granting permission to foreign experts to own land for conducting a business, with the condition that technological know-how must be transferred in joint projects with academic institutions or research centers in Thailand 

Data updated on 14 December 2022.  
Source : Thailand Board of Investment 555
Tel : +66 2-553-8111