BANGKOK, Thailand – Thailand’s economic cabinet has approved the Thailand Board of Investment (BOI)’s package of three measures aimed at driving its “investment for the future” policy. The package includes the significant “FastPass,” an initiative designed to remove bottlenecks and accelerate more than 80 investment projects worth 480 billion baht (or 14.8 billion US dollars).
The FastPass system aims to streamline procedures and reduce approval time by 20% to 50%, which will help attract more large-scale investment in high-technology sectors such as biotechnology, electric vehicles and components, advanced electronics, digital technology, and artificial intelligence. The initiative is scheduled to begin its initial implementation in December 2025.
The other two measures include the development of high-skill personnel and competitiveness support for entrepreneurs. The first includes a program to upskill and reskill more than 100,000 Thai workers and students for emerging industries. The second offers grants covering 30% to 50% of investment, up to 100 million baht (around 3 million US dollars) per company to support Thai businesses in R&D, green technology adoption, and transitions toward environmentally friendly industries. (PRD)
