Bangkok, Thailand – January 29, 2025 – The Thailand Board of Investment (BOI) has approved investment privileges for projects worth a combined 170.5 billion baht (approximately US$5 billion), including a major digital infrastructure project by TikTok. The board also revised promotion measures for the bioeconomy, including incentives for Sustainable Aviation Fuel (SAF) production.
TikTok to Invest US$3.7 Billion in Data Hosting
TikTok Pte. Ltd., the Singapore-based unit of the Chinese company, received approval for a 126.8 billion baht (US$3.7 billion) investment in data hosting services to support the activities of affiliated companies. Operations are expected to start in 2026.
Siam AI to Invest in Cloud Services
The BOI also approved a 3.25 billion baht investment by Siam AI Corporation, a Thai company, in cloud services focusing on artificial intelligence applications.
“TikTok’s and Siam AI’s investments mark a significant step in enhancing Thailand’s digital and AI infrastructure and supporting the national goal of becoming a digital innovation hub in ASEAN,” said Mr. Narit Therdsteerasukdi, Secretary General of the BOI.
Revised Incentives for the Bioeconomy
In line with its existing policies to promote Thailand as a bioeconomy hub, the BOI approved granting investment promotion privileges to the production of Sustainable Aviation Fuel (SAF) and Mixed SAF. SAF is a biofuel that can reduce carbon emissions by up to 80% compared to conventional jet fuel. Mixed SAF blends pure bio SAF with fossil jet fuel to meet industry sustainability requirements and allows use without engine modification.
Driving Investment in 2025
The BOI also approved its investment promotion strategies for 2025, focusing on five key areas:
- BCG Industries Hub: Promoting bio-, circular, and green industries.
- Tech Hub: Attracting investment in advanced technologies such as EVs, semiconductors, and digital technologies.
- Talent Hub: Developing a skilled workforce and attracting global talent.
- Logistics & International Business Hub: Enhancing logistics infrastructure and promoting Thailand as a regional business center.
- Soft Power and Creative Hub: Supporting the creative industries and leveraging Thailand’s cultural strengths.
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***** This article uses GEN AI in collaboration with human editors.
