On Monday, 15 December 2014 the Thailand Board of Investment (BOI) held a seminar entitled “The Seven-Year Investment Promotion Strategy (2015 – 2021): Investment Promotion Criteria and Activities” at Impact Arena in Bangkok. Presided over by Prime Minister H.E. General Prayut Chan-O-Cha attended by over 2,000 representatives from the public and private sectors including advisers from DFDL.
The seminar detailed the new BOI investment promotion incentives that will come into effect on 1 January 2015. The BOI’s new policy vision is to promote both in-bound and out-bound Thai investment in order to enhance Thailand’s regional competitiveness, overcome the middle-income trap, and achieve a sustainable growth model in accordance with the economic philosophy of self-sufficiency.
In addition to the policies aimed to increase the development of small and medium sized enterprises that include increased corporate income tax exemptions, the BOI outlined a plan to create Special Economic Zones to help facilitate cross-border relations amongst neighboring countries. Enhanced incentives for foreign investors looking to do business in Thailand were also unveiled alongside new promotion mechanisms to encourage investment by Thai companies overseas.