The Finance Ministry is set to offer incentives to quick-start investment projects that have not applied for Board of Investment privileges -- and they will be on a par with those given to BoI-promoted projects.
Projects would have to be launched within six months of the cabinet approving the measures, which is likely to be in the next few weeks.
Full details are yet to come, but the incentives would include tax breaks and exemptions aimed at convincing companies to start investing now, a ministry source said.
Thailand is in dire need of fresh investment from the private sector to boost the lacklustre economy.
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Incentives would be offered separately from the BoI's special privileges for companies that invest within six months. That plan is also awaiting government consideration.
The BoI recently offered tax incentives to industries using high technology or promoting research and development. They include increasing corporate income tax exemption to 13 years from eight and raising the reduction for corporate income tax to 90% for 10 years after a tax holiday from 50% for five years now.
Private investment accounts for 27% of GDP.
"The imminent measures must make investors feel it's more worthwhile to invest in Thailand immediately than wait for clearer signs of an economic pickup," the source said.
In a related development, Deputy Prime Minister Somkid Jatusripitak said the government was revamping the Joint Public-Private Consultative Committee (JPPCC) structure, with civil society to be included alongside the private and government sectors.
The committee's members in the provinces are being urged to play a more active part in the country's economic and social development.
Mr Somkid said the JPPCC's restructuring was in line with the government's Pracha Rat (People's State) policy, which entails a partnership between the government, private sector and the people not only in economic and social development but also in tackling social and political problems.
The strategy is aimed at strengthening the economy at the grass-roots level and empower communities and local enterprises.
The model means the people, the government and businesses must work closely to pursue sustainable development and help farmers, workers and communities secure their livelihoods.
Prime Minister Prayut Chan-o-cha, who chaired yesterday's JPPCC's meeting, asked five private organisations, the National Economic and Social Development Board and the Local Development Institute to study the new plan jointly. The five organisations are the Federation of Thai Industries, Thai Chamber of Commerce, Thai Bankers' Association, Tourism Authority of Thailand and Thai National Shippers' Council.