BOI endorses investment support for 14 projects

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BOI endorses investment support for 14 projects

BANGKOK, 1 March 2016 (NNT) – The Board of Investment (BOI) has approved measures to promote local investment while agreeing to give support to 14 investment projects worth a total of 39 billion baht.

Prime Minister Gen Prayut Chan-o-cha presided over the BOI meeting where investment incentives were granted to 14 projects, including those in the fields of agriculture, auto parts, metal products, machinery and logistics equipment. Their combined investment capital is more than 39 billion baht.

The BOI also gave a nod to special privileges for those investing in the Food Innopolis and the aircraft, automatic equipment and robot cluster. The privileges include an exemption of corporate income tax for eight years and tax reduction by 50 percent for another five years.

Moreover, approval was granted to measures to spur local investment in support of the government’s “One Tambon, One Agro-Processing Plant, One Tourist Destination” policy.

The measures are divided into the setting up of agricultural processing factories to add value to products, the assistance of community product shops with a three-year corporate income tax exemption, and the opening of new tourist attractions in local communities.

-- NNT 2016-03-01

[Srikcir]

Prime Minister Gen Prayut Chan-o-cha presided over the BOI meeting where BOI approves measures to promote local investment while agreeing to give support to 14 investment projects worth a total of 39 billion baht.

Was there any doubt that the BOI would NOT approve the measures and give support? The nice thing about controlling all of government without any checks and balance is that there is no opposition.