The government will launch the "Thailand Fast Pass" scheme on Tuesday to accelerate major investments by cutting approval times and easing regulatory bottlenecks, says Finance Minister Ekniti Nitithanprapas.
The scheme builds on the success of the BOI Fast Pass programme, which has proven capable of stimulating investment without requiring additional budget spending, said Mr Ekniti, who is also a deputy prime minister.
He said streamlining government approval and licensing procedures through closer coordination among state agencies can help promote investment, as reflected in higher levels of foreign direct investment (FDI) in Thailand.
Mr Ekniti said fast-track policies directly strengthen investor confidence, noting that Thailand's ranking in international investment competitiveness compiled by the International Institute for Management Development (IMD) improved from 30th to 24th place.
The Board of Investment (BOI) says Thailand Fast Pass is designed to speed up approvals and permits for large projects in targeted industries, reducing processing times by 20–50%.
Prime Minister Anutin Charnvirakul will preside over the launch on Tuesday at Government House.
Mr Ekniti, who chairs the BOI, recently held a meeting to review progress in accelerating investment through the Thailand Fast Pass system, focusing on key concerns raised by investors, including access to electricity, clean energy and investment sites.
At a BOI board meeting on May 6, nine additional projects worth a combined 52.1 billion baht were approved under the Thailand Fast Pass programme, bringing the total number to 25 projects with combined investment valued at 223.2 billion baht. In March, 16 projects were approved.
Projects accepted into the programme will receive expedited approvals and permits from agencies including the BOI, the Department of Industrial Works, the Industrial Estate Authority of Thailand, the Office of Natural Resources and Environmental Policy and Planning, the Customs Department and electricity authorities.
Between 2023 and 2025, a total of 78 large-scale projects worth 480 billion baht received investment promotion approval.
Of these, 35 projects worth about 100 billion baht began investment, while 30 projects worth 110 billion baht had clear plans to start in 2026–27. Another 13, valued at about 270 billion baht, still faced obstacles related to electricity supply, land availability and regulation.
Experts say that if the government can address these issues, 350 billion baht more investment will take place by 2027. The BOI will monitor progress on a quarterly basis.
