Thailand FastPass Attracts Over 121 Billion Baht from 17 New Projects

Thailand's Board of Investment (BOI) has added 17 more projects from 15 companies to the Thailand FastPass mechanism, representing more than 121 billion baht in investment and plans to create over 14,000 jobs for Thai workers. The decision was made at a BOI board meeting chaired by Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas. The 17 projects cover four strategic industry groups: two animal feed projects worth more than 8.8 billion baht, two processed food projects worth over 24.3 billion baht, 10 electronics and electrical appliance projects worth more than 83.9 billion baht, and three automotive and parts projects worth over 4.3 billion baht. The latest additions bring the total number of major projects entering Thailand FastPass to 42, from 38 companies, with combined investment exceeding 344 billion baht and plans to create more than 27,000 jobs for Thai workers. Thailand FastPass is designed to accelerate approval and licensing procedures involving relevant government agencies, resolve obstacles facing investment projects and help bring approved investments into operation more quickly. The BOI said the mechanism is expected to generate employment, increase the use of locally sourced raw materials and parts, support technology transfer and raise the competitiveness of Thai industries. Of the 25 projects previously admitted to FastPass, all have received BOI investment promotion approval. Eleven have obtained all required licences or approvals within the specified service-level agreement period, while 14 are in the process of applying or preparing to apply for the necessary permits. Actual investment from projects in the FastPass system has already exceeded 21 billion baht. The board also approved three major investment projects worth a combined 9.64 billion baht. Wind Mahasarakham 1 Co., Ltd. will invest 3.172 billion baht to expand a wind power generation project with a capacity of 90 megawatts. The electricity will be sold to the Electricity Generating Authority of Thailand, with the project located in Maha Sarakham province. Precision Plastic Co., Ltd., a Thai company that has produced and sold sterile plastic packaging for more than 30 years, will invest 2.033 billion baht to expand production of sterile plastic packaging and components, plant- and fruit-based beverages, and food ingredients. The project is located in Phra Nakhon Si Ayutthaya province. ShuCan (Thailand) Co., Ltd., part of ShuCan Technology headquartered in Chengdu, Sichuan province, China, will invest 4.435 billion baht to expand production of printed circuit board assemblies (PCBAs). The project will use Surface Mount Technology across the production line and support customers expanding production of optical transceivers in Thailand. It will be located at Nong Lalok Industrial Estate in Rayong province. “The projects approved this time reflect investment that benefits the country in several dimensions, including strengthening clean energy security, raising production standards among Thai operators and expanding the advanced electronics industry base,” BOI Secretary-General Narit Therdsteerasukdi said. BOI restores benefits for Xin Ke Yuan Steel The BOI board also approved the cancellation of its temporary order suspending investment privileges for Xin Ke Yuan Steel Co., Ltd., allowing the company to regain its previous benefits. The company, which received investment promotion for steel billet production, had its privileges temporarily suspended by the BOI on April 11, 2025, following a proposal from the Ministry of Industry. The action followed findings that the company had violated laws governing factories and industrial product standards. The Ministry of Industry had ordered the temporary suspension of all factory operations while the company made the required corrections. The temporary suspension of BOI privileges was to remain in effect until the company complied with the ministry’s requirements and received permission to resume operations. The Ministry of Industry informed the BOI on Aug. 28, 2026, that the company had completed the required improvements. The Department of Industrial Works had authorised the company to resume operations from June 5, 2026. The BOI therefore cancelled the temporary withdrawal of investment privileges, with the benefits restored retroactively from June 5, the date the company was authorised to resume operations. The BOI said it would continue monitoring the company’s operations closely in coordination with the Ministry of Industry and other relevant agencies.