# Thailand’s Board of Investment (BOI) approves incentives to encourage JV in the automotive parts sector

- Link: https://www.thailand-business-news.com/economics/155939-thailands-board-of-investment-boi-approves-incentives-to-encourage-jv-in-the-automotive-parts-sector
- Published: 2024-08-12T11:15:50+07:00
- Author: NNT

Thailand’s Board of Investment (BOI) has announced incentives to encourage joint
venture investments in the automotive parts sector. The incentives aim to promote
collaboration between Thai and foreign companies to enhance the competitiveness 
of Thailand’s automotive industry.

## Key Takeways

 * The Thailand Board of Investment (BOI) has approved a set of incentives aimed
   at promoting joint venture (JV) investments in the automotive parts sector. This
   initiative is part of the country’s strategy to bolster its automotive industry
   and attract international collaboration.
 * The incentives include tax benefits, financial support, and streamlined regulations
   for companies that form joint ventures in the automotive parts industry. The 
   BOI aims to enhance competitiveness and foster innovation within the sector.
 * This move is expected to increase foreign investment, strengthen local supply
   chains, and support the transition to electric vehicles, positioning Thailand
   as a key player in the global automotive market.

To qualify for the incentives, a new joint venture must invest at least 100 million
baht in auto parts manufacturing, be formed between a foreign and Thai company, 
with the Thai side holding at least 30% of the registered capital. The Thai company
must have been established for at least 3 years prior to application and be at least
60% Thai-owned.

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**Source** : [Thailand BOI Approves Incentives to Promote JV Investments in Automotive Parts Sector](https://thainews.prd.go.th/nbtworld/news/view/486578/?bid=1&rand=154948)

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