BOI (Board of Investment)

The Board of Investment is a government agency that promotes foreign direct investment in a country by offering tax incentives, regulatory facilitation, and workforce support. The Thai BOI, established in 1966, is the most widely referenced example and operates as an autonomous agency under the Prime Minister's Office. The Thai BOI grants Certificate of Promotion to qualifying projects in prioritised sectors including advanced manufacturing, renewable energy, digital economy, agriculture, logistics, and tourism infrastructure. Promoted enterprises receive corporate income tax holidays typically lasting 3–8 years depending on location (8 years in regional zones, 5 years in Bangkok), exemption or reduction of import duties on machinery and raw materials, and facilitated work permit issuance for foreign executives and specialists. The application process involves submitting a business plan, investment details, and evidence of capital, with BOI reviewing sector alignment and local economic impact. Processing typically takes 30–60 days. BOI-promoted companies gain easier access to the Thailand LTR visa pathway for foreign investors and executives. Comparable investment promotion agencies operate in the Philippines (BOI, under the Department of Trade and Industry), Sri Lanka (BOI, established 1989), Vietnam (Foreign Investment Agency), and other Southeast Asian nations, though incentive structures and eligible sectors vary. The Thai BOI remains one of Southeast Asia's most active and generous investment promotion frameworks, though changes to promoted sectors and incentive structures occur periodically in response to economic conditions and national development priorities.