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Thailand BOI Approves Measures to Promote Industry 4.0 Transformation

The measures approved include a 3-year corporate income tax exemption covering 100% of the investment into the Industry 4.0 upgrade.

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The Thailand Board of Investment (BOI) at a meeting today approved incentives to encourage companies to speed up Industry 4.0 transformation, and reported that total investment applications for the nine months to September 30 amounted to 520.7 bil-lion baht (USD15 billion), already higher than for the whole of last year.

“The BOI has long been incentivizing companies in moving towards productivity enhancement and automation, but it’s now time to move further to support Industry 4.0 transformation,” Ms Duangjai told reporters after the meeting chaired by Prime Minister Gen Prayut Chan-ocha.

“The tax incentive package approved today offers improved incentives to Industry 4.0 projects which require higher investments.”

Ms. Duangjai Asawachintachit, Secretary General of the Thailand Board of Investment (BOI)

The measures approved include a 3-year corporate income tax exemption covering 100% of the investment into the Industry 4.0 upgrade.

The BOI will be co-operating with the National Science and Technology Development Agency (NSTDA) on this ef-fort as NSTDA will help assess and advise the Industry 4.0 transformation investment plans that the companies will be required to submit.

Applications must be filed by the end of 2022

Companies which receive approval will be required to fully implement their upgrade plans within 3 years from the date of is-suance of the BOI certificate. This new measure supplements the existing measures to support the adoption of automation systems and digital technology adoption.

In a continuation of its policy to help strengthen local small and medium sized enterprises (SME), the board also approved an extension of the existing special investment promotion measures for SMEs until the last business day of 2022.

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Thailand BOI Approves Measures to Support Carbon Reduction

greenhouse gas emission as well as an enhanced scheme for electric vehicles and measures to mitigate Covid-19 impacts and support local vaccine development

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The Thailand Board of Investment (BOI) approved incentives to encourage companies to reduce greenhouse gas emission as well as an enhanced scheme for electric vehicles and measures to mitigate Covid-19 impacts and support local vaccine development, Ms Duangjai Asawachintachit, Secretary General of the BOI, announced today.

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Investment

Thailand’s H1 Investment Applications rise 158% in combined value, BOI says

Japanese firms ranked first with 87 projects worth 42.8 billion baht, followed by investments from the U.S. with 18 projects worth 24.1 billion baht, and China with 63 projects worth 18.6 billion baht.

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In the first six months of 2021, Thailand’s investment applications increased 14% from the year earlier period in terms of the number of projects, and 158% in combined value, led by increasing foreign direct investment (FDI) applications, sustained growth in target industries including the electronics and medical sectors, as well as in power generation, the Thailand Board of Investment (BOI) said.

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