BOI Endorses Baht Projects To Drive Thai Economic Growth

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The Thailand Board of Investment- BOI has given the green light to eight significant projects with a total value of 56.95 billion baht or $1.54 billion. This includes a bio-ethylene plant developed by a local joint venture with Brazil’s Braskem, along with initiatives for data centers, power plants, and a large new hospital.

The BOI approved two major data center projects to boost the country’s digital transformation and meet the surging demand for cloud computing, IoT, and AI. An American multinational corporation secured a 7.19-billion-baht investment for a data center in Samut Prakan province, while True Internet Data Center Co. received 3.35 billion baht to expand one of its four existing data centers at True IDC East Bangna Campus in the same province.

Bumrungrad International Hospital Phuket Co. happened to be given a nod for a 4.96-billion-baht investment in order to come up with a 212-bed hospital and Advanced Diagnostic Centre. This project aims to attract international medical tourists to Phuket, Thailand’s primary international tourism hub.

Additionally, the Commission on the National Competitiveness Enhancement for Targeted Industries Policies, with the BOI as its secretariat, approved measures to support promising startup enterprises in target industries, from Pre-Series A to Series A stages. Eligible Thai startups with high growth potential could receive matching funds ranging from 20 to 50 million baht. This policy seeks to enhance national competitiveness and foster an economy powered by technology and innovation.