Thailand is one of the favored FDI destinations for North American, European, and Asian companies in the ASEAN region.
Bangkok, Thailand (PRWEB)
February 28, 2017
The Thailand Board of Investment’s New York office, announces the enactment of a new law that aims to enhance Thailand’s competitiveness in targeted industries, that waives corporate income taxes for up to 15 years and subsidizes investment expenses for R&D and innovation.
The National Competitive Enhancement Act for Targeted Industries BE 2560 (2017), widens investments incentives to make Thailand more competitive with other countries to draw companies to the country.
The law applies to companies investing in Thailand’s core industries such as biotech, advanced manufacturing, creative and digital industries, as well as companies using new technology or advanced production methods, in areas such as nanotechnology, advanced materials and digital technology.
The law, a key element of Thailand’s new 4.0 investment strategy, was announced by H.E. General Prayut Chan-o-cha, Prime Minister, at the first annual “Opportunity Thailand” conference that took place in Bangkok, on February 15, 2017. The one day conference focused on the Royal Thai Government’s commitment to continually improve the country’s business environment to ensure that Thailand remains a leading investment destination for foreign companies doing business in Asia and beyond. The conference was attended by Ministers from economy-related ministries such as Deputy Prime Minister for Economic Affairs, Minister of Industry, Minister of Commerce, Minister of ICT, Minister of Science & Technology, as well as high-ranking executives of foreign companies.
General Prayut’s message was also shared at the 2nd honorary investor advisors (HIA)…