Thailand’s Strategic Move Towards a Smart and Sustainable Economy
Thailand is taking significant steps to reshape its economic landscape by focusing on the development of a “smart and sustainable economy.” This initiative is being spearheaded by the Board of Investment (BoI), which is working closely with the Stock Exchange of Thailand (SET) to create a more robust framework for investment and growth.
The BoI’s efforts are centered around supporting multinational companies that are part of its promotion programs. By encouraging these firms to list their shares on the SET, the BoI aims to provide them with access to capital and financial tools that can help them expand and innovate. The collaboration between the BoI and SET is designed to offer listed companies additional support in launching new projects, improving production efficiency, and achieving long-term sustainability.
“Thailand’s goal is to become a regional business hub and a gateway for trade and investment in Asia,” said Narit Therdsteerasukdi, the secretary-general of the BoI. “We are developing a comprehensive ecosystem that integrates tax and non-tax incentives with financial support and post-investment services.”
The SET, under the leadership of President Asadej Kongsiri, sees its role as a platform for businesses to raise funds for sustainable growth. “The best way to get through these challenging times is to keep growing the economy,” he stated during an event hosted by the SET and BoI.
Focusing on High-Tech Industries
As part of this initiative, the BoI and SET are focusing on three key high-tech industries that have attracted significant foreign investment in recent years: smart electronics, electric vehicles, and digital technologies. These sectors are seen as vital for driving innovation and ensuring Thailand remains competitive in the global market.
Companies like Delta Electronics (Thailand) and Cal-Comp Electronics (Thailand) serve as examples of how BoI-promoted firms can benefit from participating in the capital market. Their success highlights the potential for other companies to leverage the SET for expansion and global reach.
Economic Growth and Investor Confidence
The BoI has reported impressive results in the first nine months of this year, with investment applications totaling 1.37 trillion baht—a 94% increase compared to the same period last year. The number of projects has also surged by 23%, reflecting renewed investor confidence in Thailand.
This growth is attributed to government stimulus measures and Thailand’s strategic positioning as a key investment hub in the region. “The BoI is not only promoting investment, but also driving structural transformation to build new economic engines for long-term competitiveness,” said Mr. Narit. “Our mission is to support investors and Thai enterprises in transitioning to the new economy—one that is innovative, inclusive, and competitive.”
Enhancing the Capital Market Ecosystem
Mr. Asadej emphasized that the partnership between the BoI and SET will make the capital market more inclusive. By connecting investment promotion with fundraising opportunities, the collaboration offers growth pathways for new companies and exposure to high-potential industries for investors.
This initiative is expected to strengthen existing sectors while fostering the development of smart, sustainable industries. The combined strengths of the BoI and SET are anticipated to play a crucial role in enhancing the competitiveness of Thai enterprises.