Investment Policy Monitor
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The Investment Policy Monitor provides the international investment community with up-to-date, country-specific information on recent policy developments affecting foreign direct investment (FDI).
Through its ongoing monitoring of investment policy changes, UNCTAD delivers cutting-edge and forward-looking contributions to investment policy discourse. The Monitor also supports evidence-based policymaking aimed at ensuring that foreign investment contributes to sustainable development. The Monitor also informs the analysis of global and regional investment policy trends featured in the World Investment Report, the Investment Policy Monitor publications and the joint UNCTAD-OECD Reports on G20 Investment Measures.
UNCTAD has tracked changes in national policies affecting FDI on an annual basis since 1992. Over time, the methodology has been revised to enhance the quality and consistency of reporting. The most recent revision, completed in 2024, further refined the monitoring framework and applied the updated classification to policy measures dating back to 2012.
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UNCTAD Investment Policy Monitor The UNCTAD Investment Policy Monitor database compiles official measures affecting FDI adopted by United Nations Member States. These encompass measures explicitly targeting foreign investment (FDI-specific), as well as general investment measures that have a clear impact on such investment (FDI-related).
The measures are either reported directly to UNCTAD by Member States through annual surveys or identified by UNCTAD researchers through publicly accessible sources (such as government websites and specialized policy databases).
The classification of measures as more or less favourable to investors is based solely on their potential impact on investors. The type of measures included in each category are described below. This classification does not reflect any value judgement by UNCTAD on the merit or suitability of the measure.
Classification of the nature of measures
More favourable to investors
Liberalization: includes privatization; lifting of entry restrictions (e.g. opening of sectors to FDI) and entry conditions (e.g. minimum capital requirement); removal (total or partial) of FDI screening or approval mechanisms; lifting of foreign exchange restrictions; liberalization of land access.
Facilitation: includes streamlining of investment procedures (e.g. one-stop shops); greater transparency of investment-related laws and procedures (e.g. information portals); introduction by IPAs and other entities of new services to assist investors (e.g. linkages programmes, investor visa facilitation or alternative dispute resolution mechanisms).
Promotion: includes establishment of IPAs or other institutions with a remit as investment promoters and expansion of their mandate; adoption of investment promotion strategy and plans; introduction of PPPs, auctions, and concessions initiatives or framework; introduction of OFDI promotion initiatives.
Incentives: includes adoption of new tax and financial incentives schemes for investment; introduction of other incentives (e.g. citizenship by investment programmes); adoption of new SEZ-related incentives.
Other regulatory changes: includes enhancement of investor treatment and protection guarantees; easing of labour or migration regulations concerning foreign hires and key personnel; removal of operational restrictions on investment (e.g. local content requirements).
Less favourable to investors
Entry: includes introduction or tightening of entry restrictions (e.g. total or partial ban on FDI in specific sectors); introduction or tightening of entry conditions (e.g. minimum investment threshold, joint venture requirements or State participation in strategic sectors); introduction or expansion of screening mechanisms for national security.
Treatment and operation: includes introduction or expansion of foreign exchange restrictions; introduction or expansion of restrictions on foreign hires and key personnel; removal or reduction of investment incentives; introduction or expansion of post-establishment requirements for local content; reduction of guarantees for investment treatment and protection; introduction or expansion of restrictions on OFDI.
Note: Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.
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- Thailand - Expands investment promotion incentives for certain sectors
Thailand
Expands investment promotion incentives for certain sectors
18 Feb 2025The Board of Investment (BOI) of Thailand adopted a series of measures in 2025 to expand investment promotion incentives across multiple sectors, including sustainable energy, healthcare, battery manufacturing and electric vehicles.
On 18 February 2025, the Board issued Notification No. Sor. 2/2568, amending Notification No. 9/2565 by adding two sustainable aviation fuel–related activities to section 1 of the annex, which covers advanced, high value-added and strategic industries. The newly promoted activities include (a) the production of sustainable aviation fuel using agricultural products, by-products, residues or waste, and (b) combined sustainable aviation fuel production involving co-processing procedures. Eligible activities under section 1 may benefit from incentives such as corporate income tax exemptions or reductions, import duty exemptions, permission for foreign land ownership, and facilitation measures for foreign personnel. The notification entered into force on 18 February 2025.
On 17 March and 5 June 2025, the Board issued Notifications No. Sor. 3/2568 and No. Sor. 5/2568, respectively, introducing import duty exemptions on raw materials and machinery under the Investment Promotion Act. These exemptions apply to:
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Hospital businesses with a minimum capacity of 31 beds for overnight patients; and
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Investments in battery manufacturing, provided that the relevant raw materials are not available domestically.
The amended rules apply to applications for investment promotion submitted on or after 1 July 2025.
On 22 July 2025, the Board issued Notification No. Sor. 6/2568, introducing an additional incentive to promote the use of locally manufactured parts in the electric vehicle and electrical appliance industries. This measure applies nationwide to new investments and to existing BOI-promoted projects whose corporate income tax exemption period has not yet expired.
Eligible projects must obtain Made in Thailand certification from the Federation of Thai Industries, meeting minimum local content thresholds ranging from 15 to 45 per cent depending on the activity. Qualified projects receive an additional 50 per cent reduction in corporate income tax on net profits for two years following the expiry of their existing exemption period. Applications must be submitted by the last working day of 2026, and certification must be provided by the last working day of 2027.
Less favourable aspects of the measures introduced under Notifications No. Sor. 2/2568 and No. Sor. 5/2568 are detailed in the Investment Policy Monitor database, available at:
Nature of measure:
- Liberalization
- Facilitation
- Incentives
Type:
- Entry and establishment (Access to land)
- Promotion and facilitation (Investment facilitation , Investment incentives)
Industry:
- Manufacturing (Manufacture of coke and refined petroleum products, Manufacture of chemicals and chemical products)
Inward FDI:
YesOutward FDI:
NoSources:
- The board of investment of Thailand, Announcement from the Board of Investment Sor. 2/2568, https://www.boi.go.th/upload/content/sor2_2568_67b54d76bce4c.pdf, 18 Feb 2025
- Bangkok Global Law, Amendment to the list of business activities eligible for investment promotion, https://www.bgloballaw.com/2025/05/15/amendment-to-the-list-of-business-activities-eligible-for-investment-promotion/, 15 May 2025
- gta, Thailand: BOI provided investment incentives for the production of sustainable aviation fuels and bio-industries, https://globaltradealert.org/intervention/143648, 18 Feb 2025
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The Investment Policy Monitor provides the international investment community with up-to-date, country-specific information on recent policy developments affecting foreign direct investment (FDI).
Through its ongoing monitoring of investment policy changes, UNCTAD delivers cutting-edge and forward-looking contributions to investment policy discourse. The Monitor also supports evidence-based policymaking aimed at ensuring that foreign investment contributes to sustainable development. The Monitor also informs the analysis of global and regional investment policy trends featured in the World Investment Report, the Investment Policy Monitor publications and the joint UNCTAD-OECD Reports on G20 Investment Measures.
UNCTAD has tracked changes in national policies affecting FDI on an annual basis since 1992. Over time, the methodology has been revised to enhance the quality and consistency of reporting. The most recent revision, completed in 2024, further refined the monitoring framework and applied the updated classification to policy measures dating back to 2012.
-
UNCTAD Investment Policy Monitor The UNCTAD Investment Policy Monitor database compiles official measures affecting FDI adopted by United Nations Member States. These encompass measures explicitly targeting foreign investment (FDI-specific), as well as general investment measures that have a clear impact on such investment (FDI-related).
The measures are either reported directly to UNCTAD by Member States through annual surveys or identified by UNCTAD researchers through publicly accessible sources (such as government websites and specialized policy databases).
The classification of measures as more or less favourable to investors is based solely on their potential impact on investors. The type of measures included in each category are described below. This classification does not reflect any value judgement by UNCTAD on the merit or suitability of the measure.
Classification of the nature of measures
More favourable to investors
Liberalization: includes privatization; lifting of entry restrictions (e.g. opening of sectors to FDI) and entry conditions (e.g. minimum capital requirement); removal (total or partial) of FDI screening or approval mechanisms; lifting of foreign exchange restrictions; liberalization of land access.
Facilitation: includes streamlining of investment procedures (e.g. one-stop shops); greater transparency of investment-related laws and procedures (e.g. information portals); introduction by IPAs and other entities of new services to assist investors (e.g. linkages programmes, investor visa facilitation or alternative dispute resolution mechanisms).
Promotion: includes establishment of IPAs or other institutions with a remit as investment promoters and expansion of their mandate; adoption of investment promotion strategy and plans; introduction of PPPs, auctions, and concessions initiatives or framework; introduction of OFDI promotion initiatives.
Incentives: includes adoption of new tax and financial incentives schemes for investment; introduction of other incentives (e.g. citizenship by investment programmes); adoption of new SEZ-related incentives.
Other regulatory changes: includes enhancement of investor treatment and protection guarantees; easing of labour or migration regulations concerning foreign hires and key personnel; removal of operational restrictions on investment (e.g. local content requirements).
Less favourable to investors
Entry: includes introduction or tightening of entry restrictions (e.g. total or partial ban on FDI in specific sectors); introduction or tightening of entry conditions (e.g. minimum investment threshold, joint venture requirements or State participation in strategic sectors); introduction or expansion of screening mechanisms for national security.
Treatment and operation: includes introduction or expansion of foreign exchange restrictions; introduction or expansion of restrictions on foreign hires and key personnel; removal or reduction of investment incentives; introduction or expansion of post-establishment requirements for local content; reduction of guarantees for investment treatment and protection; introduction or expansion of restrictions on OFDI.
Note: Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.
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