Thailand's Board of Investment (BOI) has announced a strategic vision for the next four years, with a focus on the emerging Bio, Circular, and Green (BCG) sector.
BOI Secretary General Narit Therdsteerasukdi delivered an impassioned speech at the "Towards Thailand: Green Economy – Land Bridge" forum in Bangkok, highlighting the global trend towards sustainable business operations.
"From BOI's overseas roadshow activities, we have found that foreign investors are prioritizing the reduction of greenhouse gas emissions and the use of clean energy in their operations. ”
Narit outlined the key role that external factors such as climate change, geopolitical conflicts, technological advancements, demographic shifts, and changing national tax policies will play in shaping the investment landscape over the next five years.
The BOI envisions a complete transformation that will increase BCG's investment from the current 21 percent to an ambitious 24 percent by 2027. If successful, the move is expected to skyrocket Thailand's gross domestic product (GDP) from 3.4 to a staggering 4.4 trillion baht, cementing Thailand's position. Thailand serves as BCG's hub in the ASEAN region.
Seven major Japanese automakers, including industry giants Toyota, Mitsubishi, Honda, Isuzu, Suzuki, Nissan and Mazda, have made investment proposals totalling 150 billion baht over the next five years, Narit revealed. The primary focus of these investments is the transition to electric vehicle (EV) manufacturing.
The disclosures follow high-profile business discussions between Japanese automakers and Thai Prime Minister and Finance Minister Srettha Thavisin during their recent visit to Tokyo for the Japan-ASEAN 50th Anniversary Summit. The dialogue was part of the Thailand-Japan Investment Forum hosted by the BOI in Tokyo, which was attended by more than 500 Japanese business leaders, according to The Nation.
Narit further revealed that the remaining three Japanese companies, Panasonic, Kubota, and Mitsui, are not directly involved in automotive manufacturing, but have expressed strong interest in BCG-related fields. Their investment plans include investments in battery manufacturing, agricultural machinery, and sustainable aviation fuel, propelling Thailand to the forefront of cutting-edge green technologies.
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