On December 11, Thailand unveiled its four-year strategic priorities to attract foreign direct investment to boost the weak economy.。

Since taking office in August, Thai Prime Minister Srettha Thavisin has embarked on an international "roadshow" to "sell" Thailand to corporate investors in the country during visits to the United States, China and other countries.。Today, the Thai government is inviting global digital giants to build major infrastructure in Thailand, including the establishment of regional headquarters.。

Prime Minister Srettha said Thailand will focus its main goal of attracting foreign investment on the digital, electronics and electric vehicle (EV) industries。Over the next four years, the Board of Investment of Thailand (BOI) will focus its investments in these three sectors, plus the Bio-Cycle Green Economy (BCG) and the creative industries.。BOI believes that these five industries are the key to further national economic development。

It is understood that a number of large companies are in talks with the Thai government on investment cooperation, BOI Secretary General Narit Therdsteerasukdi revealed the progress of the negotiations。

In the digital industry, data centers and cloud services are the Thai government's "heart and soul," and well-known U.S. companies such as Amazon Web Services (AWS), Google and Microsoft are about to enter Thailand to carry out related businesses.。In the field of digital platforms, companies such as Meta, TikTok and OpenAI are also part of the investment focus.。

At the same time, the transition to artificial intelligence and digitalization has created a huge demand for cloud services on a global scale.。

Microsoft has pledged to invest in Thailand as its AI hub in Asia, building a regional cloud data center and AI center of excellence there.。"The memorandum of understanding (MOU) signed with Microsoft includes not only financial investments, but also the development of digital government systems and national cloud projects, improving digital workforce skills, enhancing cybersecurity and artificial intelligence teaching, among others," Narit said.。"

It is worth mentioning that Thailand enjoys considerable advantages due to its well-developed digital infrastructure and skilled labor force.。Agoda is one of the international digital companies that has established a regional headquarters in Thailand and employs 3,000 people in Thailand.。

In the electronics industry, large U.S. companies such as Western Digital (WD), ADI (ADI) and Hewlett-Packard (HP) have also thrown out an "olive branch" of investment intentions.。

In today's undercurrent global situation, Thailand can take advantage of the trend of corporate migration to boost foreign investment。Taiwan, the world's largest producer of microchips, is looking to move its production overseas, while Thailand is likely to be a destination for industrial relocation due to its excellent strategic location and neutral stance。

Thailand's electric car market is also in full swing。According to foreign media reports, negotiations with Tesla on a "$5 billion investment in Thailand" are still ongoing, and this investment will give a significant boost to the Thai economy and further strengthen the country's important position in the global electric vehicle market.。

Narit said: "Currently, the global electric vehicle business is expanding rapidly.。In Thailand, the number of electric vehicles registered has reached 70,000, of which 5.80,000 were passenger cars, a figure that accounted for 16 percent of all new car registrations in October.。The electric vehicle industry is growing rapidly, and Thailand's support measures have brought confidence to both investors and consumers. "。

For the BCG industry, the BOI stressed: "In an uncertain environment, vigorous adoption of clean energy and compliance with the Global Minimum Tax (GMT) are important tools to attract investment."。By adopting clean energy, Thailand is positioning itself as a "responsible and sustainable" investment destination.。Not only that, Thailand also pledged to introduce GMT next year, demonstrating the country's commitment to fair and transparent economic practices and alignment with the standards of the Organization for Economic Cooperation and Development (OECD).。

It is reported that after the introduction of GMT, the global minimum corporate income tax rate should not be less than 15%, and Thailand has about 1,000 multinational companies will be included in the scope of GMT, which means that they will no longer enjoy tax-free treatment.。

In this unfavorable tax conditions for enterprises, the BOI will apply for investment concessions for enterprises to reduce taxes, so that the tax burden of enterprises will not increase significantly.。In addition, the BOI will use the Bt100 billion Competitiveness Fund to appropriately reduce investment costs in the face of increased taxes.。