The Board of Investment (BoI) will join hands with two state-backed banks to help entrepreneurs affected by the Covid-19 outbreak, BoI secretary-general Duangjai Asawachintachit has said.
“BoI will work with Small and Medium Enterprise Development Bank of Thailand [SME D Bank] and Export-Import Bank of Thailand [Exim Bank] to organise an online seminar “SME Solution for the Covid-19 Crisis” on May 28 to guide and assist entrepreneurs interested in obtaining BoI privileges” she said. “Furthermore, the BoI and the two banks will provide several measures to help those who are affected by Covid-19.”
Some of the highlighted measures are:
Reducing the minimum investment requirement for those who wish to apply for BoI privileges to Bt500,000 (excluding land investment and rotating funds); increasing corporate tax break to 200 per cent of investment value for type A entrepreneurs (those with 3-8 years privileges); allowing the import of second hand machines to be used in the project.
“The BoI is also planning to provide additional benefits to SMEs who are located in special economic zones in 10 border provinces to promote inter-border investment,” she said. “To be eligible for these benefits, the applicants must have total revenue of less than Bt500 million per year and must apply for BoI privileges before 2021.”
Duangjai said over 60 per cent of companies that receive BoI privileges each year are SMEs.
Source : The Nation
Bangkok allows five types of venues to reopen
The Bangkok Metropolitan Administration (BMA) has announced the latest Order of the Temporary Closure of Premises (No. 32), allowing the following five types of venues in Bangkok to reopen from 14 June, 2021.
The Bangkok Metropolitan Administration (BMA) has announced the latest Order of the Temporary Closure of Premises (No. 32), allowing the following five types of venues in Bangkok to reopen from 14 June 2021.(more…)
Thai economy in the pandemic era: can it ever be the same?
What is the way forward for Thailand, and how strong is the case for a radical overhaul of economic and development policies?
Forecasts for Thai economic growth this year have been widely slashed to less than 2%, some much lower, reflecting growing gloom about the trajectory of an economy battling the third wave of COVID-19 and resulting lockdowns and social distancing measures.(more…)
Subscribe via Email
Recovering global trade supports APAC economies but Tourism exposure will temper Thailand’s rebound
The direct contribution of travel and tourism to Thailand's economy was around 10% of GDP before the pandemic, but the...
Thailand Expects 600,000 Tourists from Phuket Sandbox reopening
From 1 July, Phuket will waive quarantine requirements for foreign tourists who have been fully vaccinated against COVID-19 under the...
Thai Government Plans to Increase 2022 Investment Budget by 90 Billion baht ($2.84 bln)
According to the 2022 fiscal budget bill, which has public spending set at 3.1 trillion baht, accounting for 17.9% of...
Fitch Affirms Thailand’s rating at ‘BBB+’ with a Stable Outlook
Fitch forecasts Thailand's tourism-dependent economy will recover only modestly, by 1.8% in 2021 after a sharp 6.1% contraction in 2020.
One-stop SME information portal connecting ASEAN businesses and beyond
The ASEAN Access is a flagship initiative of the ACCMSME, spearheaded by the OSMEP, Thailand and supported by the Federal...