Better and green Thailand 2030

Editorial staff

Two trillion baht investment in ten years

“Better and green Thailand 2030” strategy is aimed to draw two trillion baht foreign investment within ten years.

ML Chayotid Kridakon, Thai Trade Representative and advisory to the Prime Minister said ad hoc committee to draw foreign investment under the government strategy “Better and green Thailand 2030” aims to drive Thai economy to have a strong economy and sustainable development for the next decade.

M.L. Chayotid Kridakon, Thai Trade Representative, advisory to the Prime Minister of Thailand

The strategy is targeted to draw foreign investment two trillion baht, creates 625,000 jobs, and generate additional 1.7 trillion baht the gross domestic product.

The ad hoc committee collaborated the Board of Investment and related agencies to draw new investment in targeted industries such as electrical vehicles, digital and smart electronics, as well as ten years renewable visa which is long term resident visa program to attract wealthy foreigners in four categories covering wealthy citizens, wealthy pensioners, work from Thailand professionals and highly skills professionals.

“Thailand’s policy to reach carbon neutrality by 2050 with a target to increase renewable energy more than 50% by 2043, which is an important factor to attract worldwide foreign investor to eye Thailand.” Said ML Chayotid.

He said Thailand also is hub for electrical vehicles (EVs) manufacturing in the regional while worldwide EVs manufacturers have already used Thailand is production base such as Great Wall Motor(GMW), SAIC Motor-CP, the Thai-Chinese joint venture to manufacture the well-known British brand MG to serve both the local market and exports, BYD and Foxconn.

In digital industry, the investment of Amazon Web Services (AWS) the cloud computing division of Amazon.com will upgrade skills among Thai people and digital assessment, especially small and medium enterprises will have more business opportunity.

“The latest mission to draw the US investors, Google Western Digital, Analog Devices have plans to expand investment in Thailand.”

Mr Narit Therdsteerasukdi, secretary general of the Board of Investment (BOI) said applications to BoI among five targeted industry(EVs, digital, smart electronics, bio-circular and green(BGG) economy, creative industry) recorded 2,687 project in the past three years(2020-2022) with investment more than 600 billion baht.

Mr. Narit Therdsteerasukdi, Secretary General, Thailand Board of Investment (BOI)

BoI also implements a policy on relocation program in order to stimulate major companies to establish regional head quarters in Thailand.

He said the agency planned for a promotional program this year while BoI planned to organize 200 roadshows while BoI’s overseas offices planned schedules to tap main investors of Japan, China, Taiwan, Korea, India, the US and Europe such as Germany, France, UK and Netherland.