BOI investment promotion privileges and foreign investors jointly elevate industries to save the world

       At the beginning of December 2022, the Board of Investment, or BOI, approved new measures to support the driving forward of investment promotion strategies so as to create the country’s new economy, under the five-year investment promotion strategy (2023-2027). One of the nine interesting investment promotion measures is elevating industries to the “smart & sustainable” concept. The intent is to encourage business operators to change their machinery to automated and robotic systems, and to promote the use of digital technology, the use of energy-saving machines, and the use of alternative energy or renewable energy to reduce environmental impacts, thus elevating industries to achieve international sustainability standards. To businesses that go along with this concept, BOI offers several privileges, as follows:

1. In the case of enhancement of production efficiency, they are eligible to a 50% or 100% corporate income tax exemption for up to 3 years, depending on the conditions of capital investment in the enhancement; 
2. In the case of elevating a business in Group B with a new project, they are eligible to a 50% or 100% corporate income tax exemption for up to 3 years, depending on the conditions of capital investment in automation or a robotics system or production system for industry 4.0. 

       The measures have been in effect since 3 January 2023. Interested foreign investors or foreign business operators may inquire for further information with BOI or find follow-up details at www.boi.go.th to learn more about the application for investment promotion. In this way, investors and owners will be able to change the industry to keep pace with the “save the world” trend, which aims to prevent the destruction of our environment and to ensure that industries operate in a sustainable manner.

Source : Thailand Board of Investment 555
Tel : +66 2553 8111