BOI, SET, and SEC Collaborate to Launch ‘BOI to IPO’ for New Economy Businesses

Bangkok: The Board of Investment (BOI) has partnered with the Stock Exchange of Thailand (SET) and the Securities and Exchange Commission (SEC) to introduce the "BOI to IPO" initiative. This collaboration aims to promote New Economy businesses by facilitating their entry into the capital market. According to Thai News Agency, the BOI, SET, and SEC have formalized their cooperation by signing a Memorandum of Understanding (MOU) for the 'BOI to IPO' project. The initiative is designed to support investment-promoted businesses, particularly those within the 10 New Economy industries, by providing them with efficient access to funding and opportunities to list on the stock exchange. This move is expected to drive sustainable economic growth in Thailand. Deputy Prime Minister and Minister of Finance, Ekniti Nitithanprapha, emphasized the importance of economic restructuring in response to global changes in technology and supply chains. The government is focusing on an Investment-led Growth policy, aiming to brin g technology and innovation into the country, create high-skilled jobs, develop human resources, and integrate Thai entrepreneurs into modern supply chains. The BOI to IPO project serves as a mechanism to connect investment promotion policies with the capital market, allowing New Economy businesses to continuously raise capital, expand operations, and develop technology. This alignment is intended to ensure that the structure of the Thai capital market mirrors the country's emerging economic landscape. Mr. Narut Teodsathirasak, Secretary-General of the BOI, highlighted the collaboration's role in connecting the tools of the three agencies. The BOI offers additional incentives, while the SET and SEC support businesses in preparing for and navigating the listing process on the Stock Exchange of Thailand's Market for Alternative Investment (mai). Companies in the New Economy sector, certified by the SET, will benefit from an additional 3-year exemption from corporate income tax or a 50% reduction for 5 years. General companies will receive a 2-year exemption or a 50% reduction for 3 years, based on their business type. Mr. Assadej Kongsiri, Director and President of the SET, stated that the project will effectively link investment promotion mechanisms with the capital market. Enhanced criteria for listing securities are expected to simplify and accelerate the process for BOI-promoted businesses, supplemented by partial subsidies for listing. This is anticipated to attract investments in new industries, foster organizational growth, upgrade the capital market, and entice new IPOs and long-term investors. Ms. Pornanong Busaratrakul, Secretary-General of the SEC, assured that the SEC is prepared to work with the BOI and SET to streamline and expedite the IPO process. This will include comprehensive information disclosure, improved internal control systems, and investor protection to build confidence in Thailand's capital market. The 10 New Economy industries targeted by the initiative include advanced agriculture and food, biofuels and biochemicals, medical and healthcare, creative tourism, modern automotive, aviation and logistics, digital and e-commerce, smart electronics, robotics, and technology and innovation development. These industries are identified as pivotal in transforming Thailand's economy into a high-value economy over the long term.