Understanding BOI’s Latest Five-Year Investment Promotion Strategy (2023-2027)

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The Board of Investment (BOI) unveiled a new roadmap for attracting foreign and domestic investment in 2023. This Five-Year Investment Promotion Strategy (2023-2027) marks a significant shift in focus, prioritizing industries crucial for Thailand’s long-term economic competitiveness and sustainability. In this article, we break down the key elements of this strategy and how it can benefit your business.

A Vision for the New Economy

The new strategy acknowledges the rapidly evolving global economic landscape, characterized by technological advancements, environmental concerns, and heightened competition. BOI aims to propel Thailand towards a “New Economy” by fostering:

  • Innovation, Technology, and Creativity: The strategy prioritizes investment in industries driven by research and development (R&D), automation, and cutting-edge technologies like artificial intelligence (AI) and robotics. This includes sectors like biotechnologies, digital healthcare, and advanced materials.
  • Competitiveness and Adaptability: The BOI recognizes the need for agility in a dynamic world. They encourage businesses that can adapt to changing market demands and embrace efficiency through digitalization and smart manufacturing.
  • Inclusiveness and Sustainability: The strategy emphasizes environmentally and socially responsible investments. This includes promoting green technologies, waste reduction initiatives, and fostering a skilled workforce through talent development programs.

BOI’s Evolving Role

BOI Secretary General, Mr. Narit Therdsteerasukdi, emphasizes the need to adapt to the changing environment. He highlights the BOI’s evolving role, transitioning from a simple “Promoter” offering tax and non-tax benefits, to a more comprehensive entity. Here’s how the BOI aims to achieve this:

  • Integrator: The BOI will integrate various investment support tools, ensuring a holistic approach to attracting and supporting businesses.
  • Facilitator: The BOI will offer streamlined services to expedite the investment process and address any roadblocks faced by investors.
  • Connector: The BOI will act as a bridge between industries, fostering collaboration and creating new business opportunities.

The Seven Pillars of the Investment Promotion Strategy

To implement the vision of the new economy, BOI has outlined its investment promotion strategy around seven key pillars:

1. Upgrading Existing Industries & Building New Ones: This pillar focuses on modernizing existing industries alongside fostering new high-potential sectors, while simultaneously strengthening the overall supply chain.

2. Green and Smart Transformation: BOI encourages investments in automation, digitalization, and decarbonization technologies, accelerating the transition to environmentally friendly and technologically advanced industries.

3. Thailand as a Business Hub: The BOI aims to position Thailand as a prominent business center, attracting international trade and investment within the region.

4. Empowering SMEs and Startups: This pillar prioritizes strengthening small and medium-sized enterprises (SMEs) and startups, ensuring their connection to global markets and supply chains.

5. Regional Investment Promotion: Recognizing the unique potential of different regions within Thailand, the BOI aims to promote investments aligned with each area’s strengths, fostering inclusive growth across the country.

6. Community and Societal Development: The BOI promotes investments that contribute positively to local communities and social development as a whole.

7. Supporting Thai Overseas Investment: The final pillar encourages Thai companies to expand their reach by investing overseas, creating new business opportunities.

What it Means for Investors

The new strategy presents exciting opportunities for businesses seeking to establish or expand their operations in Thailand. Here’s what you need to know:

Focus on Targeted Industries: Carefully evaluate if your business aligns with the BOI’s prioritized sectors like advanced manufacturing, digital services, or green technologies. Companies operating in these areas are likely to receive more favorable consideration for BOI promotion.

Innovation and Technology Integration: Demonstrate a commitment to innovation and technology integration in your project proposal. This could involve investments in R&D, automation, or digitalization processes.

Sustainability Matters: Environmental and social responsibility are no longer afterthoughts. Integrate sustainability practices into your business plan to align with the BOI’s focus on inclusivity.


BOI’s Five-Year Investment Promotion Strategy (2023-2027) presents a clear roadmap for Thailand’s economic future. By prioritizing innovation, technology, and sustainability, the BOI aims to attract investments that will propel the country towards a more competitive and resilient economy.  For businesses seeking to capitalize on these opportunities, partnering with a reliable BOI registration consultant can be instrumental in navigating the process and securing the necessary approvals.

If you have questions about BOI registration or how your business can benefit from the latest investment promotion strategy, contact us today. We look forward to partnering with you in achieving your business goals in Thailand.


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