Thailands Industry Ministry estimated that throughout 2013, there would be investment promotion applications to Thailands Board of Investment BOI for at least Bt1 trillion, from the previous target at Bt700 billion. 

Industry Minister Prasert Boonchaisuk said such an estimate was projected from investment applications from January to April this year which already reached Bt500 billion.  Last year alone, investor application for promotional investments through BOI exceeded Bt1.47 trillion, growing from Bt700 billion in 2011.

Thailands Board of Investment BOI
Thailands Industry Ministry estimated that throughout 2013, there would be investment promotion applications to Thailands Board of Investment BOI for at least Bt1 trillion, from the previous target at Bt700 billion.

The minister said the higher figure was due to Thai and foreign investors confidence in Thailand’s strong fundamentals, the governments Bt350-billion water management scheme, its infrastructure construction project of Bt2 trillion, as well as the connectivity policy of economic corridors linking roads from Thailand to neighbouring countries.

Regarding the Industrial Estate Authority of Thailand IEATs progress on area development for industrial purpose, Mr Prasert said there were 28 projects from the private sector applying to set up industrial areas, expected to be complete in 2015, of which 18 projects were of small- and medium-sized enterprises with a total investment budget at Bt21.2 billion, creating 530,000 jobs. MCOT online news

via Investment applications this year set to pass Bt1 trillion | MCOT.net | MCOT.net.

Thailand’s Board of Investment (BOI) has approved a time frame for the preparation of a new investment promotion policy, scheduled to be completed by December 2013 , and to be enforced beginning on 1 January 2015, leaving an adjustment period for investors .

According to Mr. Prasert Boonchaisuk, the Minister of Industry, the BOI board approved the time frame for the new investment promotion policy implementation t o create clarity and transparency in its operation. It provides sufficient lead time for investors and business operators to prepare themselves in order to ensure full compliance and plan their business accordingly.

The new investment promotion policy will be completed by December 2013 and become effective from 1 January 2015 onwards. Under the new policy draft, the BOI plans to shift its investment promotion focus to 10 target industries, including

1. infrastructure and logistics series,

2. primary industries,

3. medical & scientific equipment,

4. renewable energy and environmental services,

5. business support services industries, 6. advanced core technologies,

7. food and agricultural processing,

8. hospitality & wellness,

9. automotive and other transport equipment, and, finally,

10. the electronics and appliances industry. In addition, incentives will be given to new regional industry clusters such as food processing industries, a change from the previous zoning – based policy .

The benefits provided to the project, which has been further encouraged by the new strategy, will be divided into two categories, basic incentives and additional merit – based incentives . BOI focuses on promoting the activities of investment projects that are beneficial to the country.

About the author

Leave a Reply

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

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

Thailand Issues New Incentives to Attract Wealthy global citizens and Retirees

Thailand’s cabinet passed a resolution on September 14, 2021, introducing immigration, tax, and land ownership incentives aimed at foreign investors and skilled professionals. The incentives are part of an effort to stimulate Thailand’s economy which has been badly impacted by the COVID-19 pandemic.

Is America back in Southeast Asia ?

After a slow start, the Biden administration has begun to secure confirmation of some top diplomatic appointees for Southeast Asia. However several important posts, like Thailand or the Philippines, remain vacant.