Thailand approves six projects totalling $29bn; TikTok wins largest single approval

BANGKOK, THAILAND: Thailand’s Board of Investment (BOI) has approved six major projects totalling 958 billion baht (about $29 billion), with the largest single approval awarded to TikTok System (Thailand) Co, as the country seeks to expand its role as a regional hub for data centres, cloud services and AI infrastructure.

The approvals were made at a BOI board meeting chaired by Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas. The board also cleared a second batch of projects under the Thailand FastPass mechanism and held discussions with energy agencies on measures to ensure electricity readiness and broaden access to clean energy for incoming investments.

Three of the six projects are in data centre and data hosting services, together worth 913 billion baht (roughly $27 billion). TikTok System (Thailand) received approval for an 842 billion baht (about $25 billion) project to add servers and expand data storage and processing capacity across Bangkok, Samut Prakan and Chachoengsao provinces to meet rising demand for digital services. TikTok has committed to supporting digital literacy and e-commerce training to help Thai entrepreneurs and strengthen the local digital workforce.

Other data centre approvals include a 46 billion baht ($1.4 billion) project by Skyline Data Center and Cloud Services Co, part of UAE-based DAMAC Group, in Chachoengsao with an IT load of 200 megawatts, and a 24.6 billion baht ($746 million) investment by Bridge Data Centres IIO (Thailand) Co of Singapore in Chonburi with an IT load of 134 megawatts.

The remaining approvals cover renewable energy, the circular economy and resource-based industries. PureCycle (Thailand) will invest 8.18 billion baht ($248 million) to produce recycled plastic pellets in Rayong using technology licensed from P&G. Dan Khun Thot Wind One will invest 4.7 billion baht ($143 million) in an 89-megawatt wind farm in Nakhon Ratchasima. ASEAN Potash Chaiyaphum will invest 31.4 billion baht ($952 million) to produce potassium chloride in Chaiyaphum for fertiliser inputs.

BOI Secretary General Narit Therdsteerasukdi said the approvals reflect rising investor confidence in Thailand amid global volatility and emphasised the need for supporting infrastructure and skills to move projects from approval to operation.

“Amid continuing global volatility, investment in Thailand’s digital and advanced technology sectors continues to grow, reflecting investor confidence in the country's potential as a regional technology hub,” Narit said. “For Thailand to capture this new investment cycle, we must be ready not only with investment incentives, but also with sufficient power, clean-energy options, skilled talent, deeper supply chains and a reliable facilitation system that allows projects to move quickly from approval to operation.”

To accelerate implementation, the BOI added nine projects worth 52 billion baht ($1.6 billion) to the Thailand FastPass list, bringing the FastPass portfolio to 25 projects valued at 223 billion baht ($6.8 billion). The FastPass scheme is intended to streamline approvals and coordination among agencies including 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 power-related bodies.

At the meeting, the BOI and energy regulators outlined steps to strengthen electricity readiness, particularly in the Eastern region, and urged faster completion of the Power Development Plan to support future demand and new energy technologies. The board also advanced clean energy mechanisms such as Direct Renewable Power Purchase Agreements and the Utility Green Tariff 2 to expand options for companies procuring renewable electricity.

The BOI was tasked with working with relevant agencies on regulatory changes to ease clean energy investment, including simplifying licensing for foreign operators installing solar rooftops and clarifying rules for self-generation under Independent Power Supply arrangements.

Narit said the combination of large-scale digital investment, power readiness, clean energy access, skilled talent and faster facilitation will be central to Thailand’s competitiveness in the next phase of global investment.

USD conversions in the BOI statement use an estimated exchange rate of 33 baht per USD.