16 June 2017
In a move to drive success of digital economy development under Thailand 4.0 policy and encourage investment in border investment activities, Thailand Board of Investment (BOI) has approved three main issues: including digital infrastructure to its promotional incentive list, extending application submission deadline for projects investing in special economic zones (SEZs) until the end of 2018 and adding six activities limited to locate only in SEZs to be eligible for special privileges.
The six activities are:
1. Animal feed and feed ingredients
2. Manufacture of construction materials and pre-stressed concrete for public utilities
3. Production of body care products
4. Production of plastic products for consumer goods
5. Production of fiber products
6. Office and building development for industrial use/warehouses
The board also agreed to broaden the scope of two activities, namely construction materials and body care. For example, all types of construction materials such as ceramic tile roofs, floor tiles and wall tiles are also included in construction materials, and coCosmetics are also include in body care.
From January 2015 to April 2017, there have been 41 investment projects with an investment value of 8.5 billion baht applied for investment promotions in SEZs in 10 provinces (Tak, Mukdahan, Sa Kaeo, Trat, Songkhla, Chiang Rai, Nong Khai, Nakhon Phanom, Kanchanaburi and Narathiwat).
Other matters approved by the BOI board include additional tax incentives for businesses using advanced technology or involved product development or design, including auto parts and advanced electrical appliances, and more incentives for industrial estate or industrial park operators. Dr Suvit said that digital infrastructure will encourage investment in offshore cable construction, and an expansion of the digital infrastructure network will enhance the quality and coverage of Thailand’s internet service while increasing people’s access to the service.
Source: Thailand Board of Investment (BOI)
Illustration Photo: Surfing the internet in Bangkok's BTS Skytrain (credits: Nopphan Bunnag / Flickr Attribution-NonCommercial-NoDerivs 2.0 Generic (CC BY-NC-ND 2.0))