The Thailand Board of Investment (BOI) has announced the approval of eight major investment projects valued at a combined 56.95 billion baht (USD 1.54 billion). The projects span various sectors crucial to Thailand’s economic development, including a bio-ethylene plant, a new hospital, power plants, and crucially, data centers.
The meeting, chaired by Deputy Prime Minister Mr. Pichai Chunhavajira, who also serves as Minister of Finance and BOI Chairman, saw further advancements in Thailand’s commitment to the electric vehicle (EV) industry. A new investment promotion category was introduced specifically for service centers dedicated to repairing, repacking, and reusing used EV batteries and energy storage systems. This move strengthens the existing comprehensive BOI policy and incentives for the EV supply chain.
Recognizing the growing demand for data hosting, the BOI also approved a new category to support this burgeoning business segment. This initiative complements existing investment incentives aimed at fostering the development of Thailand’s digital industry.
Beyond these industry-specific advancements, the BOI approved a new promotion package for animal quarantine facilities. This move aims to enhance quarantine and certification services, facilitating a smoother flow in the international trade of livestock.\
According to Mr. Narit Therdsteerasukdi, Secretary General of the BOI, the approved projects represent significant investments from both foreign and local players as these projects align perfectly with the Thai government’s key target industries, contributing to environmental protection and propelling the country’s digital transformation.
Thailand’s commitment to strengthening its energy and digital sectors is evident. This latest approval for data centers marks the second such instance this year. In March 2023, the BOI greenlighted infrastructure projects totaling 56.6 billion baht (USD 1.64 billion), including two data center ventures valued at a combined 10.4 billion baht.
These initiatives aim to address the exponential growth within the digital sector and cater to the increasing demand for large-scale data storage and management services, both domestically and internationally.
