In a few words, could you present the Thailand BOI Paris office?
The Office of the Board of Investment or BOI is a government agency under the Office of the Thai Prime Minister. Our main role is to promote investment, both by attracting foreign investment into Thailand and by supporting Thai investment abroad.
The BOI Paris office covers six countries: France, Italy, Spain, Portugal, the United Kingdom, and Ireland. So, we act as the main point of contact for investors in this region who are interested in opportunities in Thailand.
What have been the key stages of the Thailand BOI’s expansion in Europe?
The BOI’s overseas expansion actually started in Asia, during the 1970s–1990s, Japan was Thailand’s largest source of foreign direct investment, especially in industries like automobiles, electronics, machinery, and petrochemicals. Japanese companies played a major role in Thailand’s industrialization as manufacturers increasingly shifted production to Southeast Asia. That’s why the BOI’s early overseas efforts focused heavily on Asia, particularly Japan, and later other East Asian economies, to build industrial partnerships, attract investment, and promote technology transfer.
Europe came a bit later. The first European office was set up in Frankfurt in 1975, and it becomes the main base for engaging European investors and promoting Thailand as an investment destination. Later in 1992, the BOI[VC1] office in Paris was set up.
From there, the approach in Europe evolved quite steadily. At first, it was mostly about promotion going to trade fairs and raising awareness. Then in the 2000s, it became more hands-on, with more direct engagement and investor support, especially in manufacturing sectors like automotive and electronics. By the mid-2010s, it shifted again toward something more strategic, encouraging European companies not just to invest, but to actually integrate Thailand into their regional supply chains.
Today, the relationship has become much deeper and more strategic. With Europe in particular, cooperation is no longer limited to manufacturing alone. It increasingly extends to innovation, advanced technologies, research and development, sustainability, and the transition toward higher-value industries. So, the emphasis now is not just on attracting capital, but on building long-term industrial partnerships that can support Thailand’s future economic transformation.
Which international corporate successes are you most proud of? Why?
We don’t define “success stories” in a narrow way. What matters most to us is the wide range of companies we have been able to support, of different sizes and across sectors.
Through the Thailand Board of Investment, we work with everyone from large, long-established multinationals in industries like aerospace, automotive, medical technology, biotechnology, and digital, to medium-sized companies and even smaller, high-growth businesses.
What stands out for us is not a single company, but the fact that these firms choose Thailand as their base for international expansion, often in a very competitive regional landscape. That decision itself reflects a strong level of confidence in our ecosystem.
We’re also particularly proud of the long-term relationships we maintain. It’s not just about attracting investment once, it’s about supporting companies throughout their growth journey, helping them expand, adapt, and strengthen their presence over time.
In that sense, we see our role as building success together with them and contributing to Thailand’s broader industrial development along the way.
What are the services / support most often requested by companies when looking at setting up in Thailand?
For companies looking to set up in Thailand, one of the first things they usually ask about is our investment promotion scheme. This is a government policy that offers both tax and non-tax incentives, and we help companies assess whether their planned activities fall under the eligible sectors there are more than 400 activities across manufacturing and services.
For companies that are still at an earlier stage and are not yet ready to invest, the focus is often more on market entry and market understanding. In those cases, we typically support them with initial market insights and guidance on how to approach the Thai market, since the first step is often identifying customers and testing demand.
Beyond that, a big part of our role is also to connect companies to the right ecosystem, including relevant government agencies, private sector partners, local suppliers, and industry networks. We also work closely with European chambers of commerce in the countries we cover, which helps companies get a clearer picture of the market before making decisions.
So overall, the support ranges from early-stage market guidance to full investment facilitation, depending on where the company is in its journey.
What are the key challenges that companies must prepare for before expanding to Thailand? And how do you help them through that process?
The most common challenge companies face is bureaucracy and administrative procedures. The process can still be quite paperwork-heavy, and it often involves multiple government agencies for example when applying for licenses, permits, or visas.
To address this, the Thailand Board of Investment has established the OSOS service centre, which acts as a one-stop support facility for investors. It brings together staff from various public and private agencies in one location, so companies can access information, consultancy, and administrative support more efficiently. This helps investors avoid having to move between different offices across the city and makes the setup process much smoother.
Beyond that, especially in manufacturing, another important factor is the strength of local industrial ecosystems. Thailand has very well-developed clusters, such as automotive and electronics, where suppliers, talent, logistics, and infrastructure are already highly concentrated. These networks are often based on long-term relationships, and in some cases, competitors may also be part of the same ecosystem as potential partners.
So, when we advise companies, we always emphasize the importance of choosing the right location within these clusters. It can have a direct impact on cost efficiency, access to talent, and speed of setup. Without that understanding, companies may face disadvantages in cost, operational efficiency, and time to market.
If you had three pieces of advice for a company wanting to grow a presence in Thailand, what would they be?
First, I would say, don’t be overly concerned about political changes that may occur from time to time in Thailand. From feedback we consistently receive from established companies, the key point is that the economy remains stable regardless of political transitions. Businesses continue to operate and grow through those cycles.
Second, it is very important to take time to understand Thai culture. There is a strong element of soft power in how business is done here-small gestures, communication style, and respect for cultural norms really matter. This helps build stronger relationships, not only with employees, but also with suppliers and business partners.
Third, I would recommend using local support, whether through legal advisors or service providers, especially during the initial setup phase. A lot of administrative processes are conducted in Thai and require local expertise. Over time, companies can build internal capability, but in the early stages, having the right support is essential.
At the same time, it is important to recognize that Thailand also offers a growing pool of capable management talent. These professionals are increasingly able to take on leadership roles, adapt quickly, and make important operational decisions, which helps companies scale more effectively over time.
In what additional capacity would you see a partner like Altios support you and your team in your global activities?
We see strong value in market intelligence and investor targeting, particularly in identifying the right companies at an earlier stage of their international expansion that align with our promoted activities. This would allow us to focus our engagement more effectively and reach more relevant investor profiles from the outset, improving the overall efficiency and impact of our activities.
We have been working with Frenger, now Altios International, for almost 10 years and have been very satisfied with the support provided. Knowing that Altios now also has a footprint in Thailand makes us even more confident and eager to continue and strengthen this long-term relationship.
Overall, we really value this partnership and look forward to continuing to build on it going forward.
Learn more about Thailand Board of Investment
