What is BOI? Key Technological Incentives Investors Should Not MISS
 

The BOI, or the Board of Investment, is a primary government agency in Thailand tasked with promoting and facilitating investment within the country. Its core mission is to provide both tax and non-tax incentives, while also streamlining investment processes to attract domestic and foreign investors. The BOI places a strong emphasis on supporting targeted industries, such as those involving innovation, advanced technology, and automation, in order to enhance Thailand’s global competitiveness.

Understanding BOI: The Basics of the Board of Investment

The BOI, or Board of Investment, aims to stimulate investment in industries that benefit the Thai economy. It has extended its support to cover high-tech and environmentally friendly industries by offering a wide range of incentives to both local and foreign entrepreneurs.

A key role of the BOI is also to assist in transforming traditional factories into Smart Factories and enhancing organizational competitiveness through the adoption of digital technology and automation in manufacturing processes, thereby promoting sustainable economic growth.

BOI Benefits

The BOI offers attractive benefits to businesses involved in technology and innovation, helping them improve their internal processes. BOI incentives are categorized into two main types: Tax Incentives and Non-Tax Incentives.

Tax Incentives:

• Exemption or reduction of import duties on machinery

• Corporate income tax exemption

• Exemption of import duties on raw materials or essential supplies

• Corporate income tax deductions based on net profits

Non-Tax Incentives:

• Permission to bring in foreign nationals for investment exploration

• Permission to employ foreign experts and technicians

• Land ownership rights

• Permission to remit foreign currency abroad

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8 Business Sectors Eligible for BOI Promotion

1. Agriculture and Agricultural Products: Covers farming, livestock, fisheries, and processing of agricultural goods such as processed foods, animal feed, and herbal products.

2. Metal Products, Machinery, and Transport Equipment: Includes automotive parts, electric vehicles, agricultural machinery, machine tools, and automation systems.

3. Mining, Metals, and Chemicals: Involves mineral extraction, metal smelting, and the production of industrial chemicals such as specialty chemicals, fertilizers, and pharmaceuticals.

4. Light Industries: Covers textiles, garments, jewelry, furniture, and wood products.

5. Electronics and Electrical Appliances: Includes the production of electronic components, household appliances, and electronic devices.

6. Services and Public Utilities: Includes logistics, public transportation systems, and tourism-supporting services.

7. Technology, Innovation, and Software Development: Covers R&D, application development, AI, software such as IoT systems, MES, ERP, Monitoring Systems, AI & Machine Learning, Cybersecurity, Big Data & Analytics, and Green/ESG Technology.

8. Chemicals, Paper, and Plastics: Includes plastic pellets, bioplastics, smart packaging, recycled paper products, and specialized industrial chemicals.

BOI Requirements: Developing Industrial Systems for Incentives

To be eligible for BOI incentives, businesses must meet strict criteria. A key requirement that investors should pay close attention to is the modernization of industrial software systems that align with ESG (Environmental, Social, and Governance) principles. This promotes sustainability and enhances competitive advantage.

ARES Thailand offers two widely adopted systems:

• MES (Manufacturing Execution System): Manages, monitors, and analyzes real-time production processes.

• ERP (Enterprise Resource Planning): Optimizes organizational resources and production management efficiently.

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8 Steps for Applying for BOI Incentives

1. Research Investment Promotion Information
   Review the BOI’s policies, eligible business types, and available incentives via boi.go.th.

2. Submit the Promotion Application
   Prepare the necessary documents and apply through the online e-Investment Promotion system.

3. Project Clarification
   Meet with a BOI officer to explain your project within 10 business days of submission.

4. Project Evaluation
   BOI officers will evaluate your project based on various criteria within the following timeframes:
   - Projects under 200 million THB: within 40 days
   - Projects under 2 billion THB: within 60 days
   - Projects over 2 billion THB: within 90 days

5. Notification of BOI’s Decision
   BOI will inform applicants of their decision within 7 days of the internal meeting report.

6. Acceptance of Promotion Resolution
   Applicants must confirm acceptance of the promotion decision within 1 month via:
   - E-Investment Promotion system
   - For business transfers, submit Form F GA CT 08 to the Central BOI Office

7. Promotion Certificate Application
   Submit a request for a promotion certificate with relevant BOI documents within 6 months of resolution acceptance through:
   - E-Invesment Promotion system

   - For business transfers, submit Form F GA CT 07 to the Central BOI Office

8. Issuance of the Promotion Certificate
   BOI will issue the promotion certificate within 10 business days, granting the business access to the specified incentives.

For full procedural details, visit:
https://www.boi.go.th/index.php?page=procedures&language=th

Consult with our team of ERP system experts. Contact us at https://aresth.co.th/contactus

Conclusion: MES Systems and Investment Promotion by BOI

The BOI is a driving force in guiding Thailand’s industries toward technology-integrated manufacturing. By supporting smart systems that monitor and optimize production in real time, it helps businesses achieve higher product quality and long-term sustainability.

Planning your business strategy and adopting the right technologies—like MES and ERP systems—is crucial for a successful BOI application. For medium to large enterprises seeking to implement advanced manufacturing systems, ARES offers end-to-end consulting and software installation services to elevate your business for the digital age.

Contact us
For a demo, please contact us at Contact Us or for further inquiries:
Phone: 0633253640 or 02-6863000 ext. 3042
Email: support@aresth.co.th