The Democrat Party warns the government and the Board of Investment (BOI) to prepare for multinational capital, fearing that excessive tax incentives could turn Thailand into a “zero dollar investment hub.” They urge a revision of tax exemption criteria.
On 12 September 2026, Mr. Pongsakorn Kwanmuang, spokesperson for the Democrat Party, held a press conference warning the government and the Board of Investment (BOI) about the current direction of foreign investment promotion. He said it risks becoming the “BOI zero dollar” condition, where Thai people gain no benefits at all—unlike in the past when tax revenue was willingly sacrificed to attract major automobile companies to create jobs, stimulate supply chains, and drive the entire economy.
The Democrat Party spokesperson pointed out that current target industries, such as Data Centers, hardly employ any Thai workers. They receive corporate income tax and import duty exemptions and special visa privileges to bring in foreign experts, resulting in no use of domestic raw materials and leaving behind problems like wastewater and heat. Similarly, electric vehicle (EV) factories rely mainly on automation and machinery, offering very few jobs to Thais. Solar farm industries install panels to produce electricity sold to Thai consumers, but all profits are sent abroad without generating employment. A major weakness lies in the bureaucracy’s lack of a strong agency to strictly enforce local content requirements, because BOI's structure focuses on approvals but lacks personnel for thorough inspections.
The Democrat Party spokesperson added that due to these issues, they propose BOI urgently revise tax incentive criteria across five main dimensions: clearly specify the proportion of Thai labor employment; mandate technology transfer; support the use of domestic raw materials and supply chains; assess tax returns without deference to foreign capital if the country gains no benefit; and evaluate environmental impacts regarding energy, water use, and industrial pollution. He emphasized that BOI must stop measuring success by total investment figures and instead become a tool for truly adding value to Thailand, paving the way for the country to become a regional investment hub rather than merely a zero dollar investment hub as it is now.