Presented by Mr. Narucha Ruchuphan, Senior Executive Investment Advisor, Office of the Board of Investment, on March 16, 2023

1. 16 March 2023 1
Narucha Ruchuphan
Senior Executive Investment Advisor
Office of the Board of Investment
New BOI’s 5-Year
Investment Promotion
Strategy

2. 2
Agenda
Investment Promotion Outcomes
Under Previous Strategy (2015–2022)
New Investment Promotion Strategy
for New Economy
Other Supportive Factors

3. Investment Promotion Outcomes
under Previous Strategy (2015–2022)
-3-
From 2015 – 2022, the applications for investment promotion reached 12,205 projects and contributed to THB 3.93 trill (USD 118,943 mil) in investment.
Out of the total amount, investment in the EEC reached THB 1.9 trill (USD 57,281 mil) (48%), and investment in the targeted industries was THB 2.3 trill (USD
69,993 mil) (59%).
Electronics/Electrical
504,805 mil THB (15,256 mil USD)
Automobile and Parts
479,595 mil THB (14,494 mil USD)
Petrochemicals/Chemicals
460,314 mil THB (13,911 mil USD)
Agriculture and Food
341,726 mil THB (10,327 mil USD)
Tourism
150,519 mil THB (4,549 mil USD)
Existing Industries
New Industries
Medical Industry
144,449 mil THB (4,365 mil USD)
Biotechnology
109,470 mil THB (3,308 mil USD)
Digital Industry
97,937 mil THB (2,960 mil USD)
Aerospace
15,647 mil THB (473 mil USD)
Automation / Robotics
7,719 mil THB (233 mil USD)
Education
2,735 mil THB (83 mil USD)
Defense Industry
1,141 mil THB (34 mil USD)
Note: Exchange rate as of 18 January 2023 (1 USD = 33.09 Baht)
Other industries: electricity production, logistics and transportation,
Industrial estate development, and IBC, with a total investment value of
1,619,761 mil THB (48,950 mil USD) (42%).
Investment Promotion Outcomes under Previous Strategy (2015–2022)

4. 4
538,397
512,788
207,151
148,717 139,116
0
100,000
200,000
300,000
400,000
500,000
600,000
(USD 16,271 mil)
(USD 15,497 mil)
(USD 6,260 mil)
(USD 4,494 mil) (USD 4,204 mil)
Investment Promotion Applications of Foreign Direct Investment
Exchange rate as of 18 January 2023 (1 USD = 33.09 Baht)
FDI from 2015 – 2022 recorded a total investment value of THB 2,220,255 mil (USD 67,097 mil)
United States stands in top 5 of the
Thailand overall investment value
(THB mil)
Singapore
Japan China Hong Kong USA

5. Foreign Direct Investment Applications
2018 2019 2020 2021 2022
Unit: Million USD
972
projects/year
$3,427
Value
991
projects/year
$3,024
Value
853
projects/year
$4,852
Value
753
projects/year
$9,150
Value
1,070
projects/year
$12,473
Value
Source: Thailand Board of Investment (2022)
Note: Exchange Rate 1 USD = 34.792 THB (As of 24 Feb 2023, Bank of Thailand)
2022 Top 5 FDI Sources
China
2,224.10 mil USD
Japan
1,459.16 mil USD
U.S.A.
1,445.62 mil USD
4. Taiwan
5. Singapore
1,300.00 mil USD
1,272.88 mil USD
Top 5 Investing Industries in 2022
Electronics & Electrical Telcom
3,682.23 mil USD
Metal Products and Machinery
3,547.77 mil USD
Services
2,258.68 mil USD
Chemicals and Paper
1,243.02 mil USD
Agricultural Products
862.04 mil USD
1.
2.
3.
4.
5.
All FDI
FDI from U.S.A.
36
projects/year
$2,357
Value
34
projects/year
$152
Value
35
projects/year
$143
Value
37
projects/year
$838
Value
33
projects/year
$1,446
Value
U.S.
investment
applications
2022
Investment
Application
Investment
Value
2020 2021 2022
35 projects 37 projects 33 projects
$143
mil USD
$838
mil USD
$1,446
mil USD ▲ 73%
Top 5 Investing Industries in 2022
Services
832.42 mil USD
E&E products
266.87 mil USD
Light Industries
177.25 mil USD
Chem. & Paper
98.26 mil USD
Metal Products
& Mach.
67.27 mil USD
-5-

6. 6
Agenda
Investment Promotion Outcomes
Under Previous Strategy (2015–2022)
New Investment Promotion Strategy
for New Economy
Other Supportive Factors

7. -7-
10Factors to Impact Economic Planning and
Investment in the Next 5 Years
Global
Factors
Domestic
Factors
01
02
03
04
05
06
07
08
09
10
- ESG & Decarbonization
- Geopolitical Conflict
- Supply Chain Disruption
- Technology Disruption
- Rising cost of energy and raw material
- Economic Growth and Middle-Income Trap
- Economic Inequality
- Aging Society
- Availability of Human Resource
- Technology and Innovation Capabilities

8. Factors to Influence Decisions
on Investment Locations in the Future
-8-
Trade Wars
International
Conflicts
Supply Chain
Resilience
Crisis
Management
Capability
Capability to
Provide
Renewable
Energy
Decision Factors
for Investment Location Selection
• Market Opportunities
• Infrastructure and Logistics
• Readiness of Human
Resource
• Regulation supports
• Supporting Industrial Base
• Optimal Cost
• Government Incentives
+
New Factors

9. -9-
Thailand’s Competitive Strength
in Attracting Foreign Direct Investment
Excellent infrastructure
especially in the EEC area
Readiness of
the supporting industries
High quality
workforce
Creativity and
Hospitality
Competitive incentives Good relationship
with all countries
Competence in providing
renewable energy to
the business
Outstanding resilience
in crisis management

10. Second Home of International Companies
Smart Electronics
Automotive Auto Parts Bio-Based
Petro-chemical Oil & Gas
FDI Stocks representing 50%
of GDP since 2017
10

11. BOI’s Role: To Drive the Investment to the New Economy
About BOI BOI’s Investment Promotion Measures
Overseas Offices
Tax
Incentives
Non-tax
incentives
Policies
• Corporate income tax exemption up to 13 years
• 50% Corporate income tax reduction for 5 years
• Exemption of import duties on machinery
• Exemption of import duties on raw or essential materials imported for
exports
• Exemption of import duties on goods imported for R&D
• Double deduction for the cost of transportation, electricity and water
• 25% deduction for the cost of installation or construction of facilities
• Land ownership
• Work permit & visa facilitation
• 100% foreign ownership
• No local content requirements
• No export requirements
• No restrictions on foreign
currencies
BOI is a government agency
under the Office of the Prime Minister
drives and promotes
investment in private
sector in alignment with
the country’s development
strategy & the changing
world context
Promoter
integrates Government
support tools such as
tax, finance, and
non-tax incentives
in a whole package
Integrator
links large-scale with
small-scale enterprises,
Thais with foreigners,
across industries &
locations to expand
business opportunities
Connector
coordinates with
agencies to develop the
ecosystem & facilitate
ease of investment &
eliminates problems/
obstacles
Facilitator

12. BOI
Investment
Incentive
Scheme
Basic Incentives
Activity-Based
≤13years CIT exemption
Incentive
• Agriculture, Food & Biotechnology
• Medical
• Machinery and Vehicles
• Electrical and Electronics
• Metal and Materials
• Chemicals and Petrochemicals
• Public Utilities
• Digital Industries
• Creative Industries
• High-Value Services
+
Additional Incentives
Competitiveness Enhancement
• Research & Development (R&D)
• Support academic/ research institutes, or technology and human
resource development fund
• IP licensing fee
• Advanced technology training
• Development of local suppliers
• Product and packaging design
Area-Based
• EEC 3 provinces
• SEZ 10 provinces
• 4 Special Economic Corridors
• Southern border provinces
• 20 provinces with lowest income
• Industrial Estates/Zones
• Science and Technology Parks (TSP, Food Innopolis, Space Krenovation
Park)
• Yothee Medical Innovation District
Agenda-based
• Investment Stimulation Measure for Economic Recovery
• Smart and Sustainable Industry Measure
• Social and Communal Development Measure
• Comprehensive Relocation Measure
• Retention and Expansion Measure
• Measure to Support the Establishment of Highly-skilled
Professional Development Institutes
9 New Measures for Investment Promotion 01 Promotion of Targeted Industries
Note: Board of Investment Announcement No. 9/2565
-12-

13. Investment Promotion measures for
Targeted Industries (Activities-Based)
9 New Measures for Investment Promotion 01 Promotion of Targeted Industries
Upstream industries utilizing advanced technology and innovation,
and targeted technology development activities (biotechnology,
nanotechnology, advanced material technology), with technology
transfer in collaboration with academic/research institutes.
Knowledge-based activities focusing on R&D that is critical
for developing the country's long-term competitiveness.
Infrastructure activities for the country’s development,
activities using advanced technology to create value-added,
with no or very limited prior investments in Thailand.
High technology activities which are important to
the development of the country, with a few
investments already existing in Thailand.
Activities with lower technology than A1-A3, but
still adding value to domestic resources and
strengthening the value chain.
Supporting Industry that does not use
high technology, but is still important to
the value chain.
CIT
Exemption
10-13
(no cap)
years
8
(no cap)
years
8
years
5
years
3
years
-
years
Exemption
Import duties
on machinery
Exemption
Import duties
on raw materials
Non-tax
incentives
Other
Incentives
Classification
of Incentives
EV Related Activities
such as manufacture of Fuel Cell
Electric Vehicles (FCEV), manufacture
of parts and components for the fuel
cell system, battery swapping station
services.
Activities Related to New Energies
such as hydrogen production from water using circular
renewable energy, including related products such as
green ammonia, production of hydrogen from
hydrocarbon or fossil fuels, and hydrogen-based
electricity/steam generation.
Activities related to
future foods
such as manufacture of novel
food, organic food and food with
health claims.
Aerospace-related activities :
such as manufacture of maintenance equipment and ground
support equipment, manufacture of mechanical or electronic parts
for satellites, design and development of systems for satellites and
ground stations and launching or launching control system
New Eligible Investment Promotion Activities
**Effective from November 3, 2022 onwards
Note: Board of Investment Announcement No. 8/2565 and No. 9/2565
-13-

14. Measures for Competitiveness
Enhancement
Provide extra incentives to encourage the implementation of
competitiveness-enhancing initiatives
2.1
• Research and Development (R&D)
• Licensing fees for using domestically developed technology
• Product and package design
• Support for S&T organizations such as academic institutions, specialized training
centers, research institutes, and public agencies, including various funding such as
technology and innovation, personnel development as approved by the BOI
Eligible Investment/Expenditures for the computation
1. Technology and Innovation
• Advanced technology training
• Organizing training or accepting student internships for work training and skill
development during their S&T education
2. Human Resource Development
• Local supplier development
3. Development of Business Operators’ Potentials
≥ 1%/ ≥200 MB
≥2%/ ≥400 MB
≥3%/ ≥600 MB
≥4%/ ≥800 MB
≥5%/ ≥1,000 MB
1 year
2 years
3 years
4 years
5 years
Investments/
Expenditures to Sales
in the first 3 years
Additional Periods
for CIT Exemption
+ Additional
Incentives
of Investments/Expenditures
200%
+ Additional CIT Exemption Limit
Promote establishment of Institutes for advanced skill personnel development
2.2
Promote private enterprises to establish academic/training institutes for advanced technology by providing incentives to their parent company
Exemption from Import
Duty on Machinery/
other Non-tax incentives
Investment 1 million baht
In Advanced Skill Personnel Development Institutes Academic/
Training
Institutes
CIT Exemption 5 years
covering 100% of the investment
in the establishment of the institutes
Parent
Company
9 New Measures for Investment Promotion 02 Competitive Enhancement Measure
In the case of investments/
Expenditures on R&D ≥ 1%
CIT Exemption
(with no Cap)
a Maximum Period of 13years
Extension of CIT Exemption to
Note: Board of Investment Announcement No. 8/2565 and No. 9/2565
-14-

15. Bangkok
The Eastern Special Development Zone (Eastern Economic Corridor : EEC)
covering 3 provinces
Areas with low per capita incomes including 20 provinces
Southern Border Area
including 4 provinces and 4 districts of Songkhla
Model City Project in the Southern Board Provinces
(Nong Chik, Pattani/ Betong, Yala/ Jana, Songkhla/ Su-ngai Kolok, Narathiwat)
Special Economic Corridors in 4 Regions (NEC, NeEC, CWEC, SEC)
covering 16 provinces
Special Economic Zones (SEZ) covering 10 provinces
Science and Technology Parks
o Science Parks (at Pathumthani, Chiangmai, Khonkaen, and Songkhla)
o Food Innopolis (13 sites across the country)
o Space Krenovation Park by GISTDA
o Innovation Platform at EECi
o Thailand Institute of Scientific and Technological Research (TISTR)
o Asian Institute of Technology (AIT)
o Yothi Medical Innovation District by NIA
Area-based
Promotion Measures
9 New Measures for Investment Promotion 08 Area-based Promotion Measures
15
-15-

16. Investment Stimulation
Measures
Condition
To stimulate large-scale
projects to start
their investments
in the next 1-2 years
1. A target industry (A1-A4) [except for activities
without specific location, as no investment promotion
zones can be identified for the incentives]
2. A real investment value (excluding cost of land and
working capital) of no less than 1,000 million baht
within 12 months after the date of investment
promotion certificate issuance.
3. Projects entitled for CIT exemption under various
measures of no more than 8 years in total
4. Extensions of deadlines are not allowed for
acceptance of investment promotion or investment
promotion certificate. However, deadline extensions
for machinery importation and commencement of full
operation may be considered as appropriate.
5. The project must submit evidence of real investment
for additional incentives within 18 months from the
date of investment promotion certificate issuance.
Objective
Incentive
5
years
Exemption
CIT
50%
Additional to
the Standard Incentives
Applications must be submitted by 2023
9 New Measures for Investment Promotion 05 Investment Stimulation Measures for Economic Recovery
Note: Board of Investment Announcement No. 14/2565
-25-

17. Smart & Sustainable
Industrial Upgrade Programs
9 New Measures for Investment Promotion 06 Smart & Sustainable Industrial Upgrade Programs
Automation and
Robotics
Digital
Technology
Industry 4.0
Energy Conservation,
Alternative Energy,
Environmental Impact
Reduction
International Standards of
Sustainability such as
GAP, FSC, PEFCs, ISO 22000
Smart Sustainable
Efficiency
Improvement
for Existing
Projects
New Investment
of Group B
with upgraded
Operations
3
years
Exemption
CIT
50% or
100%
of the investment in
automation and robotics
systems or Industry 4.0
manufacturing standards.
*depending on the conditions
*
3
years
Exemption
CIT
50% or
100%
of the investment value
in efficiency
enhancement.
*depending on the conditions
*
-17-
Note: Board of Investment Announcement No. 15/2565

18. To incentivize the existing companies to continue their manufacturing
bases and investment in Thailand.
Retention & Expansion
Program
Objective
1. Being a BOI-promoted companies for over the past 15 years (2008–
2022) of with at least 3 projects, with a combined investment value
(excluding cost of land and working
capital) of not less than 10,000 million baht.
Conditions
2. Expansion projects with total investment
value (excluding cost of land
and working capital) of
at least 500 million
baht.
Relocation
Program
To stimulate comprehensive relocations of business
operations including manufacturing facilities, regional
headquarters and R&D centers to Thailand.
Objective
➢ For all activities,
unless specified
directly otherwise
by the BOI.
➢ Promoted projects are not eligible for
additional incentives under the Measure
to Stimulate Investment
➢ Applications must be submitted by 2023
A company can apply by adding a new Regional Headquarters (IBC) and/or the R&D
center to its existing manufacturing activities or apply for a promotion on
manufacturing activities together with its IBC, and/or the R&D center as one project.
Conditions
➢ Applications must be submitted by 2023
The IBC/ R&D Center must start their servicing operations within 3 years after
the date of investment promotion certificate issuance or the submission date of
applications for project amendments and must not exceed the CIT exemption
period
The Regional Headquarters/ R&D Center must operate their essential functions as
approved by the BOI.
Manufacturing Manufacturing Manufacturing Manufacturing
Regional HQs Regional HQs
R&D Center
R&D Center
+
+
+ +
1-5 years
CIT Exemption for
the Manufacturing
Activities
(Under the Measure for
Competitiveness
Enhancement)
5 years
of CIT Exemption
for the Manufacturing
Activities
Additional
3 years
of CIT Exemption
for the Manufacturing
Activities
Additional
Standard Incentives
Package according
to each eligible
activity
Note: the total period of corporate income tax exemption shall not exceed 8 years.
03 Retention & Expansion Program 04 Relocation Program
Incentives for Expansion Projects
Group A1+
(basic incentives of CIT exemption for 10-13 years)
Group A1, A2
(basic incentives of CIT exemption for 10-13 years)
Group A3, A4, B
(basic incentives of CIT exemption for 10-13 years)
(In Addition to the Standard Benefits)
Top-up
Top-up
+ Additional
CIT exemption for
(not more than 13 years in total)
3 years
CIT
50% reduction
for
5 years
+ Additional
CIT exemption for 3 years
(not exceed 8-year exemption period)
Note: Board of Investment Announcement No. 8/2565 and No. 12/2565 Note: Board of Investment Announcement No. 8/2565 and No. 13/2565
-18-

19. 19
Agenda
Investment Promotion Outcomes
Under Previous Strategy (2015–2022)
New Investment Promotion Strategy
for New Economy
Other Supportive Factors

20. -20-
Government Support 03 Develop an Investment Ecosystem
Government Support
To Drive the “Investment Promotion Strategy for the New Economy”
Develop an Investment Ecosystem
focusing on human resources, R&D, technology, infrastructure, and regulatory frameworks that facilitate investment
Research & Technology
Development
Human Resources
Promote R&D including in-house, outsourced
or collaborative research with organizations
in other countries.
Promote the development of core technologies
in collaboration with educational and research
institutes.
R&D Grant: supporting R&D & commercialization
of R&D results.
BUILD
BUY
• Attract high potential foreigners through LTR,
• Smart Visa and Sections 24-26 of the Investment Promotion Act.
Demand
STEM OSS Platform By MHESI
Supply
• Vocational Training Institute:
• Corporate Academy in the Target Disciplines:
8-year CIT exemption
5-year CIT exemption
for the parent company
BOI: incentives in cases of accepting students for internship
under the Dual Vocational Education or Cooperative and
WiL
BOI: Advanced technology training grant
Revenue Department: Tax deduction for expenses on hiring
technology personnel (1.5 times) and for conducting
training in the target curriculum (2.5 times)

21. Wealthy Global Citizens
Wealthy individuals holding at least USD 1 million in assets and
investment in Thailand
Wealthy Pensioners
Retirees aged 50 years and older who have an annual pension
or stable income
Work-from-Thailand
Professionals
Remote workers working for well-established companies overseas
Highly Skilled Professionals
Professionals or experts in targeted industries working for business
entities or higher education institutes or research centers or specialized
training institutions in Thailand or Thai government agencies
Dependants
Spouse and children under 20 years old of LTR visa holders
(Maximum 4 dependants in total per one LTR visa holder)
Make Thailand your home
with 10-year
LTR visa for
Long-Term
Residents
9 New Measures for Investment Promotion Long-Term Residents Visa
-21-

22. What privileges will be
offered to LTR visa holders?
There will be many privileges for LTR visa holders that will make living in Thailand long term easier and less
bureaucratic. Beyond the overall ease of regulations concerning foreign residents, the LTR visa program
makes the process of hiring foreigners easier and the foreign experts hired will strengthen the private
business sector for Thailand.
One Stop Service Center
for Visa and Work Permit
Tel. +66 (0) 2209 1100 ext. 1109-1110
E-mail: ltr@boi.go.th
Permission to work
in Thailand (Digital
Work Permit)
Multiple re-entry
permit
1-year report to
the Immigration Bureau
Fast-track Service
at international
airport in Thailand
Exemption from 4 Thais to
1 foreigner employment
requirement ratio
10-year
renewable visa
LTR Visa Statistics (Sept. 1, 2022 – Feb. 28, 2023)
940 517 325
U.S.A. China
Europe
TOP 3
Nationalities Applying
for the Thailand LTR Visa
195
(6.7%)
1,011
(34.6%)
771
(26.4%)
390
(13.4%)
553
(18.9%)
https://ltr.boi.go.th
9 New Measures for Investment Promotion Long-Term Residents Visa
U.S. Net Application
Net Application 2,920
517
Net Application
U.S.A. Wealthy Global
Citizens
Wealthy Pensioners
Work-from-
Thailand
Professionals
Highly Skilled
Professionals
Dependants
18
(3.5%)
287
(55.5%)
121
(23.4%
)
30
(5.8%)
61
(11.8%)
22
-22-

23. -23-
Government Support 02 Comprehensive Services for Pre & Post-investment
Government Support
To Drive the “Investment Promotion Strategy for the New Economy”
Comprehensive Services for Pre & Post-investment
Information &
Advice
on investment &
business
establishment
in Thailand
Online Services
for investment promotion,
incentive utilization requests,
& operation reports
Matching
Services
for Businesses and
Joint-venture Partner
Coordination
Services
before investors and
government agencies
e.g. e-Investment Promotion, eMT, RMTS, e-Tax,
e-Land, e-Extend, e-Monitoring, e-Submission,
Single Window + Smart Visa & LTR,
One Start One Stop
Investment Center (OSOS)
BOI have a One Start, One Stop Investment Center which help to speed
the process for investors for submitting application, contacting
with related agencies, Smart Visa and work permits within 3 hours.
The OSOS is located in the center of Bangkok Central Business District.
More Convenience, Less Time
More Efficiency!
18th Floor, Chamchuri Square Building, 319
Phayathai Road, Pathumwan
Bangkok 10330, Thailand
Tel: 66(0)2 209 1100 Email: osos@boi.go.th
Contact us:

24. Contact us:
Office of Thailand Board of Investment
555 Vibhavadi-Rangsit Rd.,
Chatuchak, Bangkok
10900 Thailand
Tel: +66 (2) 2 553 8111
Website: www.boi.go.th
Email: head@boi.go.th
Thailand Board of Investment,
Los Angeles Office
Royal Thai Consulate-General,
611 North Larchmont Boulevard, 3rd Floor,
Los Angeles CA 90004, U.S.A.
Tel: +1 (0) 323 960 1199
Email: boila@boi.go.th
www.boi.go.th
Thailand Board of Investment,
New York Office
7 World Trade Center, 34th Floor, Suite F.,
250 Greenwich Streat, New York,
New York 10007, U.S.A
Tel: +1 (0) 212 422 9009
Email: nyc@boi.go.th
Ms. Janthapat Saichumin
Acting Director
Mr. Ittichot Damrongraktam
Director