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Thailand: BOI’s Investment Promotion in the EEC
The Thai Government has made its “Area-Based Development Policy” a high priority in order to spread prosperity throughout the entire country and to maximize the advantage of Thailand’s excellent strategic location that links the Asian regions together. The policy will lead to concrete economic activities, especially in the eastern part of Thailand which is geographically outstanding and capable of supporting the development of the country’s infrastructure, economy and drive the country towards “Thailand 4.0”.
The government has initiated measures to develop the Eastern Economic Corridor (EEC) and expects the development of the EEC to be concrete, rapid and successful.
The Office of the Thailand Board of Investment or BOI has announced measures to promote investment in the EEC. These measures target high-tech, innovative and eco-friendly business activities and aim to develop industrial areas and cities in the EEC. The details are as follows:
• The EEC, which covers Chachoengsao, Chonburi and Rayong Provinces, is designated to be an investment promotion area.
• The 9 targeted industries and enabling services are as follows:
9 Targeted Industries
1. Next-Generation Automotive
2. Smart Electronics
3. Affluent Medical and Wellness Tourism
4. Food for the Future
5. Automation and Robotics
6. Aviation
7. Biochemical, Petrochemical & Eco-Friendly Products
8. Digital
9. Medical Hub
Enabling Services
1. Development of Infrastructure and Logistics
2. Development of Tourist Destinations
3. Research and Development
4. Technology Support Services
If investors invest in these targeted industries and services in the 3 designated provinces, investors will receive a 50% reduction on the corporate income tax (CIT) for 5 years after the regular CIT exemption period has ended.
The application for the investment incentives in the EEC must be submitted before December 29, 2017.
www.boi.go.th
E-mail: [email protected]
Tel: 0 2553 8111
Application: BOI Thailand