BANGKOK (NNT) – With the COVID-10 pandemic causing significant disruption around the world including in Thailand, the Board of Investment of Thailand’s (BOI) latest survey, shows most foreign investors, estimated at 96%, are still confident in the country, and are willing to bring forward their investments.
The BOI’s latest survey of the confidence of international investors in Thailand was conducted with 600 companies, 96% of which are continuing to make investments in Thailand, followed by 76.67% of companies maintaining the same level of investment, and 19.33% of companies planning to increase their investment value, even amid the COVID-19 pandemic.
The BOI’s survey suggests that the most important decision factors encouraging investors to maintain or expand their investments in Thailand are investment promotion packages, materials and parts, and the preparedness of the supporting industries.
Investment promotion packages for 2021
To help boost investment, the BOI yesterday approved investment promotion packages for the next year, with a focus on large investment projects for targeted industries, and a 50% corporate income tax discount for five years as an extra benefit.
The package requires at least a 1 billion baht investment to be made within 12 months after being approved to receive the package. Investors can apply for this package from the first to the last business day of 2021.
Applications for investment promotion packages in Special Economic Zones in 10 provinces and southern border provinces have also been extended for another two years, or until the last business day of 2022.
These packages cover about 300 business categories, with special eight year corporate income tax exemptions, followed by a 50% discount, offered in 14 targeted industries, including agriculture, fisheries, textiles and garments, leather, and medical equipment.