The Thai Board of Investment (BOI) is acting as a governmental agency with the function to promote investment in Thailand. Beside numerous information, promotion and services for Thai and foreign investors, the BOI is a very active agency to promote business Thailand. Recently, a new 7-years investment promotion strategy (2015 – 2021) has been released officially.
Effective as of 1st January 2015, the most fundamental changes are visible in the revised investment promotion criteria, having its sources in the upcoming ASEAN market conditions, the change in business trends and the domestic situation with low competiveness and stagnating buying power. The “List of Activities Eligible for Investment Promotion” categorises the main industries that can now benefit from further promotions when setting up and developing business in Thailand:
- Agriculture and Agricultural Products
- Mineral, Ceramics and Basic Metals
- Light Industry
- Metal Products, Machinery and Transport Equipment
- Electronics and Electrical Appliances Industry
- Chemicals, Papers and Plastics
- Service and Public Utilities
Furthermore, the current zoning scheme for new investment promotions will be abolished and replaced by decentralised and merit-driven zoning.
The adjustments to the promotion strategy is a very positive, but also overdue reform for Thailand to remain attractive for foreign investments and keep pace with other South-East Asian countries in the ASEAN growth race.
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