Thailand Approves USD 1.64 billion Investment Projects, Announces Launch of HQ Biz Portal

April 2023

The Thailand Board of Investment (BOI) has granted investment privileges totaling THB 56.6 billion (USD 1.64 billion) to a variety of projects aimed at enhancing the country’s infrastructure, particularly in the energy and digital sectors. In addition, the agency has launched the “HQ Biz Portal,” a comprehensive service designed to provide rapid and convenient assistance to foreign companies seeking to establish regional management operations in Thailand.

Both local and foreign investors submitted projects, which received tax and non-tax benefits. Among the approved projects is a THB 32.7 billion (USD 950 million) liquefied natural gas (LNG) terminal project, and a THB 5 billion (USD 145 million) cogeneration power plant project by a Thai-Singapore joint venture.

Two data center projects, with a combined investment value of THB 10.4 billion (USD 302 million), were approved to address the rapid expansion of the digital sector, as well as the increasing demand for large-scale storage and management services both domestically and internationally. One of the projects is a joint venture between the United Kingdom and Singapore, which will utilize renewable energy to decrease its carbon footprint and promote environmental sustainability.

The HQ Biz Portal is a one-stop service offering a range of consultation and facilitation services for companies considering setting up international business centers (IBC) or regional headquarters in Thailand. The portal includes an online appointment system and an information center. The service is managed by a working group composed of officials from four agencies.

In the first two months of 2023, the BOI granted investment promotion benefits to four new IBC projects from Norway, Japan, and Singapore, among other countries.

(Source: Thailand Board of Investment)

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