BOI Approves Support for International Festivals to Boost Tourism

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BANGKOK (NNT) - The Board of Investment (BOI) has approved promotion for “Music, Sports, and International Festival Businesses” to position Thailand as a global destination and tourism hub. 

 

Narit Therdsteerasukdi, Secretary-General of the Board of Investment (BOI), revealed that the promotion aims to reduce barriers such as visas and taxes on event equipment to attract tourists and stimulate the economy.

 

To qualify for promotion, each event must have expenditures of no less than 100 million baht, receive exemptions on import duties for equipment, and have access to visa facilitation and work permits through a One Stop Service. This aligns with the "Ignite Thailand" vision to elevate the country to a global level.

 

Additionally, the BOI has approved the enhancement of the Printed Circuit Board (PCB) business to support the shift in production bases by increasing promoted activities and strengthening the PCB cluster in Thailand. This will fortify the electronics manufacturing base and promote growth among Thai entrepreneurs.

 

Currently, Thailand is the leading PCB production base in ASEAN, supported by the BOI. With a high potential to become a global leader in electronics manufacturing, these improvements and promotions will significantly drive the economy and industry in the country.

 

by Naark Rojanasuvan

 

Source: NNT 2024-03-30

 

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