Thailand strives to attract foreign investment

Bangkok – The Board of Investment (BOI) of Thailand on June 1 approve tax incentives for four major investment projects with combined investment value of 209.478 billion THB (around 6 billion USD).

According to BOI secretary-general Duangjai Asawachintachit, the BOI meeting, which was chaired by Prime Minister Prayut Chan-o-cha, approved a project to manufacture battery electronic vehicles (BEV) by Horizon Plus Co Ltd with investment value of 36.1 billion THB. Horizon Plus is a joint venture between PTT Plc and Foxconn Technology Group from Taiwan (China).

The BOI also agreed to grant investment incentives to Asia Era One Co Ltd for its high-speed train project linking the Don Mueang, Suvarnahbhumi and U-Tapao airports with an investment value of 162.318 billion THB.

The other two eligible for the incentive is the 8.23-billion THB investments in a textile project by Kingboard Holding Ltd and an electricity co-generation project worth 2.83 billion THB of the IRPC Clean Power Co Ltd.

Duangjai said the BOI approved the investment privileges for the projects as they would benefit the country and lead to further investments in infrastructure in the Eastern Economic Corridor.

The BOI also agreed to offer more privileges to attract foreign investors, she said.