BOI Board Approves \"BOI to IPO\" Measure Linking Investment Promotion to Thailand's Capital Market

The Thailand Board of Investment (BOI) has approved a measure called "BOI to IPO", intended to bring high-potential BOI-promoted companies onto Thailand's own capital market rather than onto exchanges abroad. According to a BOI press release dated 11 September 2026, Secretary General Narit Therdsteerasukdi said the board — chaired by Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas — approved the measure at its meeting that day. It was developed jointly with the Stock Exchange of Thailand (SET) and the Securities and Exchange Commission (SEC), with the capital-market bodies supporting listing preparation on the SET, the Market for Alternative Investment (mai) or LiVEx, and the BOI providing additional incentives.

Under the measure, a promoted company that lists receives benefits on top of those it already holds, in two tiers. A company certified by the SET as a "New Economy" company receives a further three years of corporate income tax exemption, or a further five years at a 50 percent reduction. Other promoted companies receive a further two years of exemption, or a further three years at a 50 percent reduction. The BOI states that the exact entitlement varies by activity category. The release cites Delta Electronics (Thailand) PCL and Cal-Comp Electronics (Thailand) PCL as existing examples of foreign investors that built a production base in Thailand and went on to list on the Thai market.

The same meeting approved a broader reset of how investment promotion is directed and measured. Following a board brainstorming session in July 2026, the BOI will track strategic outcomes — value added from domestic raw materials, integration of Thai firms into supply chains, high-skill job creation, research and development, and technology transfer — alongside operational measures of how many approvals convert into actual investment and how quickly approvals are granted. The BOI also signalled it will taper promotion for low-value-added activities and for activities facing falling world demand. Narit linked this to national targets of high-income status within 12 years, a top-20 competitiveness ranking, annual growth above 3 percent, and investment above 30 percent of GDP.

The board added a third batch of 17 projects from 15 companies to the Thailand FastPass mechanism, with combined investment of over 121,000 million baht and hiring plans for more than 14,000 Thai staff. By value the batch is dominated by electronics and electrical appliances (10 projects, over 83,900 million baht), followed by processed food (2 projects, over 24,300 million baht), animal feed (2 projects, over 8,800 million baht) and automotive and parts (3 projects, over 4,300 million baht). Cumulatively FastPass now covers 42 projects worth over 344,000 million baht and more than 27,000 jobs. Separately the board approved three projects worth 9,640 million baht in total: Wind Mahasarakham 1 Co., Ltd. for a 90-megawatt wind power expansion in Maha Sarakham (3,172 million baht), Precision Plastic Co., Ltd. for an aseptic packaging expansion in Phra Nakhon Si Ayutthaya (2,033 million baht), and ShuCan (Thailand) Co., Ltd. for a printed circuit board assembly expansion at Nong Lalok Industrial Estate in Rayong (4,435 million baht).

This article is general orientation only and not tax or investment advice. Investment promotion conditions and incentive entitlements change, and the detailed criteria for this measure sit with the BOI. Companies should confirm current terms directly with the Thailand Board of Investment before acting.