TikTok to invest $25bn in Thailand as BOI backs $29bn pipeline
Thailand’s Board of Investment (BOI) has approved six projects worth Bt958bn ($29bn), led by TikTok System (Thailand)’s Bt842bn ($25bn) plan to expand digital infrastructure.
Three of the six approved projects are in data centres and data hosting, accounting for Bt913bn ($28.48bn) of the total.
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TikTok’s project is the largest, covering additional servers and expanded data storage and processing capacity across Bangkok, Samut Prakan and Chachoengsao.
The Chinese company also pledged to support digital literacy and e-commerce training to help Thai entrepreneurs and strengthen local digital skills.
BOI Secretary General Narit Therdsteerasukdi said: “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.”
Other approved digital projects include a Bt46bn data centre ($1.43bn) by Skyline Data Center and Cloud Services Co., part of UAE-based DAMAC Group, in Chachoengsao with a 200MW IT load capacity, and a Bt24.6bn ($765m) facility by Singapore’s Bridge Data Centres IIO (Thailand) in Chonburi with a 134MW IT load capacity.
The remaining approvals cover recycling, renewable energy and mining-related production.
US-based PureCycle will invest Bt8.18bn ($254m) in recycled plastic pellets in Rayong; Dan Khun Thot Wind One will put Bt4.7bn ($146.6m) into an 89MW wind project in Nakhon Ratchasima; and ASEAN Potash Chaiyaphum will invest Bt31.4bn ($979.4m) in potassium chloride production.
To speed implementation, the BOI added nine more projects worth Bt52bn ($1.62bn) to Thailand FastPass, bringing the total to 25 projects valued at Bt223bn ($6.95bn).
The FastPass programme aims to cut red tape by simplifying approvals and permits, improving coordination across key government bodies so priority investments can move into operation more quickly.
“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,” Therdsteerasukdi said.
