BANGKOK (NNT) – Thailand’s Board of Investment (BoI) anticipates that the value of investment project proposals, under its tax privilege program, will reach the 500-billion-baht target this year, despite the volatile COVID-19 situation.
According to BoI deputy secretary-general Chanin Khaochan, the board is confident that the 2021 target is attainable, as electronics, medical equipment and renewable energy industries continue to grow in line with the global trend.
He said the BoI’s plan to make the tax incentive program more attractive to investors will also boost investment in Thailand. The BoI is in talks with foreign investors from 10 companies, mostly from Japan and China, following their interest in expanding investment in electronic products, including semiconductors.
Mr. Chanin said the BoI is also discussing, with the Geo-Informatics and Space Technology Development Agency (Gistda), a plan for aerospace and satellite investment projects, to make Thailand a production hub for this industry in the future.