The Board of Investment (BOI) has approved new measures to better support small and medium-sized enterprises (SMEs), which are facing tough competition and the impact of US President Donald Trump's stiff tariffs.

The board also green lighted improved tax benefits for tourism businesses in second-tier provinces.

The government aims to encourage Thai entrepreneurs to improve their potential and efficiency amid intense competition and global trade tensions resulting from the impact of the US trade policies, said Narit Therdsteerasukdi, secretary-general of the BOI.

Authorities also want to support entrepreneurs involved in some of the most vulnerable sectors.

"The new measures aim to ensure that foreign direct investments contribute to the strengthening of Thailand's overall economy and participate in the development of our human resources and continuous uplifting of the technological level and competitiveness of our SMEs, which are such a crucial part of the supply chain," said Mr Narit.

One key measure to support Thai entrepreneurs is an increase in the corporate income tax (CIT) benefits granted to BOI-promoted SMEs, which will now receive a five-year CIT exemption equal to as much as 100% of their investment in enhancing their capabilities and improvements, up from the previous three-year CIT exemption capped at 50% of investment.

Some other measures address the current concerns of both local and foreign investors already established here in regards to oversupply in specific industries.

In the tourism sector, the BOI approved measures to promote investment in tourism infrastructure businesses in the 55 so-called second-tier provinces.

The measures are in line with the government's policy to upgrade tourism infrastructure and develop new attractions to promote the distribution of visitors to less visited areas and to spread nationwide the economic benefits of tourism.

The board also granted investment promotion benefits to a total of seven projects, including five new data centre projects and two wind power generation projects.

From January to March this year, the board granted investment promotion benefits to 27 data centre projects, representing a combined investment of more than 240 billion baht.