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BOI steps up investment promotion measures in the EEC

The measures will be in effect from January 2, 2020, to December 2021. Applicants can sign up for the new privileges, with no deadline set for registration.

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BANGKOK(NNT) – The Board of Investment of Thailand (BOI) has approved measures to promote investment in the Eastern Economic Corridor (EEC) by expanding the number of target industries and increasing corporate income tax benefits.

A meeting of the BOI, chaired by Prime Minister and Defense Minister, Gen. Prayut Chan-o-cha, approved the measures to attract more investors to the EEC.

The first measure is to expand target industries and businesses in the EEC, such as industries in the advanced technological development and supporting industries.

The second measure is to increase corporate income tax benefits, which cover human resource development and location. Companies in the A1, A2 and A3 business categories will be entitled to a 50% reduction in corporate income tax for three more years, while technological industries and businesses will enjoy corporate income tax exemption for two additional years.

Companies located in the EEC’s Innovation Zone, Industrial Promotional Zone, Digital Innovation Zone, Eastern Aviation City and the EECmd in Thammasat University, Pattaya Campus, will receive a 50% reduction in corporate income tax for two more more years.

Targeted sectors in technological development located in the EEC will enjoy corporate income tax exemptions for another year.

The measures will be in effect from January 2, 2020, to December 2021. Applicants can sign up for the new privileges, with no deadline set for registration.

The BOI meeting also approved measures to support small and medium-sized enterprises (SMEs). The meeting agreed that both the government and the private sector have to adjust their investment promotion measures to cover all aspects of the agricultural sector and the tourism industry. The measures are to be extended until February next year.

Business

Large Shopping Malls in Bangkok Will Be Closed until July 25th

Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.

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BANGKOK (NNT) – Large-scale shopping malls in Bangkok and in some dark-red zone provinces are now closed for two weeks, to comply with the latest COVID-19 curbs in 10 provinces.

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Business

Downside risks loom for Thai economy due to Prolonged COVID-19 Outbreak

The most important issue for the Thai economy at present would be the procurement and distribution of appropriate vaccines adequately and timely.

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The Bank of Thailand (BoT) has revealed that Thailand’s economy faces significant downside risks, because a prolonged COVID-19 outbreak could cause the economy to underperform the baseline projection, squeezing business liquidity and slowing employment.

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