BOI reveals new investment plan

[Lite Beer]

BOI reveals new investment plan

BANGKOK, 5 December 2014 (NNT) – The Board of Investment of Thailand (BOI) has revealed the new investment promoting strategy complying with the government’s economic policies.

According to Mrs. Hiranya Sujinai, the acting Secretary-General of BOI, the new investment promoting strategy will come into effect on 1 January 2015.

She said that this new strategy will support the government’s economic development policies such as the special economic zones, digital economy encouragement, and the value enhancement of rubber.

The BOI’s new strategy will benefit SME entrepreneurs with the additional 2 years of corporate income tax exemption on top of regular criterion. Investment projects in the special economic zones in Tak, Trat, Sa Kaeo, Songkhla, and Mukdahan province will receive an additional 3 years of tax exemption, said the BOI acting Secretary-General.

She mentioned that businesses and services that support the development of digital economy will receive support and benefits from this new strategy.

The new strategy will also encourage businesses that deal with domestic resources, including rubber processing and the product manufacturing from natural rubber.

The BOI’s new strategy will effectively help push forward the government’s economic policies, said the BOI acting Secretary-General.

-- NNT 2014-12-05

[rickirs]

“new investment promoting strategy complying with the government’s economic policies”

A plan that doesn't provide any investment except tax exemptions. I guess that if the government can't already collect 20-30% of its taxes, it loses nothing by exempting businesses from taxes. BOI's strategy is toothless in the face of a struggling economy that needs real direct investments. And the best the government has devised are a couple of MOU's with China and Russia. Maybe that will help the toilet paper shortage but not much more.