Investment Opportunities in Thailand
Board of Investments (BOI) has been providing incentives for large investors which are coming from foreign country, boosting Thai economy. In the recent time, Thai government is also making compromises by giving up land ownership or rights to foreign stakeholders, which may have been unthinkable in the past. But all these efforts are towards future betterment, keeping in view the best investment opportunities in Thailand.
Board of Investment Thailand – Benefits:
- Permission for foreign investors to own land
- Permission to operate under 100% foreign ownership
- Permission to bring in as many as foreign technicians and experts needed
- Exemption of import duty on machinery
- Corporate income tax exemption for up to 8 years
- Deduction of Transportation, Electricity and Water Costs
- Permission to remit foreign currency abroad
- Deduction of Project’s Infrastructure Installation
- Exemption of import duty on raw or essential materials used in the manufacturing of export products for 5 years
The following are some promoted activities which BOI Thailand offers as special privileges:
- Agriculture & Agricultural Products
- Projects with direct involvement in technological and human resource development
- Industrial zones for environmental preservation, Waste water treatment
- Mining, Ceramics & Basic Metals
- Light Industry
- Metal Products, Machinery & Transport Equipment
- Electronics Industry & Electrical Appliances
- Chemicals, Paper & Plastics
As per press release on 22nd May 2013, BOI announced :
Thailand’s Board of Investment (BOI) has approved a time frame for the preparation of a new investment promotion policy, scheduled to be completed by December 2013, and to be enforced beginning on 1 January 2015, leaving an adjustment period for investors.
According to Mr. Prasert Boonchaisuk, the Minister of Industry, the BOI board approved the time frame for the new investment promotion policy implementation to create clarity and transparency in its operation. It provides sufficient lead time for investors and business operators to prepare themselves in order to ensure full compliance and plan their business accordingly. The new investment promotion policy will be completed by December 2013 and become effective from 1 January 2015 onwards.
Under the new policy draft, the BOI plans to shift its investment promotion focus to 10 target industries, including
1. Infrastructure and Logistics series
2. Primary Industries
3. Medical & Scientific Equipment
4. Renewable Energy and Environmental Services
5. Business Support Services Industries
6. Advanced Core Technologies
7. Food and Agricultural Processing
8. Hospitality & Wellness
9. Automotive and other Transport Equipment
10. The Electronics and Appliances Industry.
In addition, incentives will be given to new regional industry clusters such as food processing industries, a change from the previous zoning-based policy. The benefits provided to the project, which has been further encouraged by the new strategy, will be divided into two categories, basic incentives and additional merit-based incentives. BOI focuses on promoting the activities of investment projects that are beneficial to the country.
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