Sunday, November 27, 2022

Thailand’s Board of Investment approves new Categories for Promotion Strategy

BOI Approved New Categories Supporting New Technologies and investment Applications Amounted to US$ 6.2 Billion in First Half 2022 on Strong EV, Digital Projects, according to latest BOI press release.

Thailand’s Board of Investment approved the addition of new BOI categories with attractive incentives to support the use of new technologies, namely manufacture and repair of high-precision machinery, equipment and parts (8-year CIT exemption), additive manufacturing (5-year CIT exemption), and production of electronics parts using microtechnology (8-year CIT exemption).

As part of BOI’s efforts in facilitating BOI application process, the Board has approved the relaxed threshold for feasibility studies to be submitted along with BOI applications. Following the relaxation, feasibility studies will only be required for projects with an investment value of 2.0 billion baht or more (excluding the cost of land and working capital), compared to 750 million baht previously.

“This change aims at further streamlining BOI application process and reducing transaction costs for investors”, Ms. Duangjai said.

The BOI board meeting held today approved applications worth a total of 44.5 billion baht, as per the following details:

– A Chinese investment project received approval for a 17.9 billion baht investment to produce battery electric vehicles (BEV) as well as plug-in hybrid electric vehicles (PHEV) in Rayong province, in the EEC area.

Read the complete story on Thailand Business News

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Thailand Business News is a comprehensive news service about Thailand with a business and financial perspective edited in Bangkok by Siam News Network

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