Bangkok: Ekniti Nitithanprapas, the Deputy Prime Minister and Minister of Finance, has announced that 2026 will be earmarked as the "Year of Investment" in Thailand. The initiative aims to drive economic growth by addressing regulatory challenges and encouraging foreign investment in future industries valued at over 1.1 trillion baht.

According to Thai News Agency, the government's strategy for 2026 includes promoting economic expansion through a combination of government and state enterprise investments, supplemented by incentives from the Board of Investment (BOI). The plan is to channel more than 1.1 trillion baht into the economy, with a balanced contribution of 50% from public sector investments and an equivalent share from state enterprises, which have an investment budget of 300 billion baht.

The government is also working to reduce barriers for businesses by simplifying the visa and work permit process for highly skilled foreign workers. This measure is part of a broader effort to create an attractive investment climate and achieve the target of 2.5-3% GDP growth in 2026. Despite a total of 1.8 trillion baht in BOI investment applications, only about 500 billion baht from private sector projects are ready for immediate investment, prompting the government to expedite real investments.

Addressing concerns from foreign investors, the government acknowledges the critical issues affecting investment decisions, including electricity supply stability and costs, land availability for industrial development, and skilled labor force development. The government plans to ensure these challenges are met by reforming the visa and work permit system through a One-Stop Service initiative, aiming to create a more favorable environment for investment in Thailand.