BANGKOK — Thailand’s finance minister, who was recently named a prime ministerial candidate for the Bhumjai Thai Party, says he will propose a new “Fast Pass” measure aimed at fast-tracking more than $9.2 billion in pending foreign and large-scale investments.
Ekniti Nitithanprapas, who also serves as deputy prime minister, said he will present the plan to the Economic Cabinet on Monday, November 24. The measure is designed to clear bureaucratic hurdles that have delayed dozens of major projects.
Ekniti said an initial review found more than 70 large projects — each valued at over 1 billion baht — could move forward immediately. He estimated that at least 300 billion baht ($9.2 billion) in new investment could enter the economy early in 2026, out of a 470-billion-baht ($14.5 billion) pipeline currently stuck in the system.
“Foreign investors remain highly interested in Thailand even though global FDI has declined,” he said. Applications for investment promotion at the Board of Investment now total more than $40 billion, nearly double last year, he added. “Most of these projects are ready to proceed but are held back by approval procedures and overlapping regulations.”
The Fast Pass system would function like an “investment express lane,” Ekniti said. Once approved, investors would receive expedited processing across all relevant agencies, including visa issuance for skilled labor, immigration procedures, and permits that currently require separate applications to multiple offices.
He also addressed Thailand’s sluggish capital markets, saying the Finance Ministry is developing new measures to boost savings and investment. Among them is the Thailand Individual Saving Account fund, designed to encourage the public to channel more savings into the capital market. The initiative is expected to be finalized by the end of the year.
Prime Minister Anutin Charnvirakul has named Ekniti as Bhumjaithai’s second prime-ministerial candidate for next year’s election, with Commerce Minister Suphajee Suthumpun listed third.
The party will formally consider all three nominations at its general assembly on Sunday, Nov. 23. Anutin praised both candidates’ professional backgrounds, saying they “understand the work” and “deliver results.”
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