BOI gives green light to support auto parts makers, pushing Thailand's electric vehicle hub into a unicorn

Opening new business types to support future investment.

The BOI Board of Directors agreed to promote additional significant businesses, including a service center for the repair of used electric vehicle batteries. And companies bringing unused electric vehicle batteries and/or energy storage systems into new (refill) or reuse (reuse) collections to support Thailand in having a comprehensive battery management system. Reducing environmental impacts caused by battery degradation that will increase in the future. And enhance Thailand's electric vehicle industry ecosystem to be complete.

In addition, the BOI Board of Directors also opened the promotion of data hosting business to support the investment of major cloud service providers aiming to invest in modern computing equipment. In order to take full advantage of the data center in Thailand. Quarantine work for animals before export and provides quarantine services for animals to examine diseases and approve them in accordance with international standards for livestock trade before exporting them. To support the growth trend of international livestock trade market in Thailand.

Green light for 8 projects with an investment value of 57 billion baht

The Board of Directors of the Investment Bank approved a total of 8 investment projects with an investment value of 56.947 million baht, which are large investment projects. Whether in the biological industry, clean energy, data center business, or hospital business. Air transportation is as follows:

1) Bioethylene (Bioethylene) Production Project of BrasChem Siam Co., Ltd. This project aims to produce primary chemicals for the plastics industry from bioethanol. Which is produced from renewable raw materials from agricultural products such as sugarcane, cassava and corn, with an investment value of 19.313 million baht, and is located in the Map Ta Phut Industrial Park of Rayong Province, with a production capacity of 200,000 tons per year, and is considered the first bio-ethylene project in Asia. It is the second factory in the world after Brazil.

2) Super Earth Energy 8 Co., Ltd.'s waste-to-electricity project, with an investment of 2,855 million baht, located in Nonthaburi Province. Its production capacity is 20 megawatts, and the company will receive municipal solid waste as raw materials to burn it as fuel. Help manage litter problems in the community

3) Biomass Fuel Electricity and Steam Production Project of National Power Plant 21 Co., Ltd., with an investment of 9,396 million baht, located in the industrial park of 304 Industrial Co., Ltd., Prachinburi Province. It is the production of electricity and steam from black rubber oil. It is a by-product of the pulp production process and has a production capacity of 130 MW of electricity from biomass fuel and 576 tons/hour of steam from biomass fuel.

4) SCG Electricity and Steam Cogeneration Project for sale to SCG Chemicals Group, 6,000 million baht investment, located in Map Ta Phut Industrial Park, Rayong Province, with production capacity of 130 MW of cogeneration electricity and 160 tons of cogeneration steam

5) True Internet Data Center Limited's data center project, with an investment of 3,345 million baht, located in Samut Prakan Province. This is the company's fifth project to support the growing needs of customers. This project is an expansion of the investment in the True IDC East Bangna campus area currently in operation.

6) Data center projects of leading companies from the United States, the largest data center service provider in the world, with an investment of 7,185 million baht, supporting an IT load of 20 MW, located in Samut Prakan Province.

7) Bumrungrad International Hospital Phuket Company Limited's hospital project is an advanced medical diagnostic center in the form of a 212-bed boutique hospital, with an investment of 4,960 million baht, to support international medical tourism services for Phuket Province.

8) Thai Lion Mentari Co., Ltd.'s domestic and international passenger air transportation project, 10 aircraft, with an investment of 3.893 million baht, to support the growth of Thai and foreign tourists. Including supporting the country's logistics system

“Projects requesting investment encouragement this time It is a large-scale investment project for both Thais and foreigners in targeted industries that the government attaches importance to. Including bio-industry clusters, clean energy and tourism-supporting companies. Providing medical and health services including large data center businesses that will help In supporting the expansion of digital transformation, cloud computing, Internet of Things and AI technology in Thailand and the ASEAN region, these investment projects reflect this. Thailand is also an important destination for investment in targeted industries that will help raise the bar to a new economy, Mr. Narit said, adding that the Board has raised the bar. To support high-potential startups.

\"BOI\"Green light to encourage auto parts manufacturers to push Thailand's EV hub - to head towards the unicorn

In addition, the Policy Committee meeting increased the country's competitiveness for the targeted industries. The Empowerment Fund Board, chaired by Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, on June 14, 2024, approved measures to encourage investment in high-potential startups from pre-Series A level to Series A level in which the target industry operates and is scheduled to The support amount ranges from 20 – 50 million baht in the form of a matching fund jointly with venture capital funds registered with the National Innovation Agency (NIA) to support Thai startups that have the potential to grow to Level U faster. This will help increase the country's competitiveness. And push towards an economy led by technology and innovation

“The Board of Investment attaches importance to supporting startups with potential through the fund to increase the country's competitiveness. At present, 14 startups in targeted industries have been supported to improve measures this time. It will work with professional venture capital. Joint support for Thai startups with potential We have sufficient funds to further develop technology and products to expand into the global market and increase the opportunity to continue to grow to the unicorn level,” Mr. Narit said.

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