Home Business “BOI” increases the right to attract investment Supporting the country’s competitiveness

“BOI” increases the right to attract investment Supporting the country’s competitiveness

by news dir

BOI Board adjusts investment privileges to attract foreign investment in targeted industries Bringing medical research, electric cars, investment for the environment hoping to restructure the economy to increase competitiveness

Board of Investment (BOI) meeting having General Prayut Chan-o-cha, Prime Minister, is the chairman.The meeting was held on 6 Sept. Approved the adjustment of investment promotion measures to increase interest in the targeted businesses that wish to invest

Ms. Duangjai Asawachintachit Secretary-General of the Board of Investment (BOI) revealed that the Board of Investment has approved three important measures as follows:

1. Supporting the development of vaccines and drugs in the country and mitigating the effects of COVID-19 Entrepreneurs who are in the process of receiving corporate income tax exemption benefits can apply for merit-based incentives for vaccine and drug research and development projects of educational institutions, research institutes, or government agencies. In the event that the subsidy is worth at least 1% of the total sales of the project in the first 3 years, or at least 200 million baht, will receive an additional 1-3 years of corporate income tax exemption and increase the amount of corporate income tax exemption in the proportion of 100. % of expenses In the event that the cost does not reach the minimum threshold will increase the corporate income tax exemption limit in proportion of 100% of expenses only

The waiver of conditions and extension of the operating time related to obtaining BOI rights, such as the waiver of the extension of the processing time to obtain international standards such as ISO 9002, CMMI for operators affected by the inspection. delayed assessment or unable to be assessed in the workplace by extending the period for another 6 months from the due date of operation between April 1-December 31, 2021 and the waiver of the request for permission to temporarily suspend operations for a period of more than 2 months between April 1 Nov.-31 Dec. 2021 by filling out the information online without applying for permission from the BOI.

2. Driving investment for the environment by approving investment promotion measures for sustainable environmental management This will support driving and developing the country as well. bio-economy model circular economy and the Green Economy or BCG as follows:

Expanding the scope of support under the Fundamental Economic Investment Promotion Measure to include supporting local organizations in the development of sustainable agricultural activities such as low-methane rice planting. be extended for one more year from the original ending in 2021 to within the last business day of 2022.

Increasing the scope of efficiency improvement measures under energy saving sub-measures use of renewable energy or reduce the impact on the environment To cover the case of machinery modifications to reduce greenhouse gas emissions, for example, the change to use environmentally friendly refrigerants in the refrigeration system of the factory and the freezer room, etc., with a 3-year corporate income tax exemption. percentage 50 of the investment

Renovation of business types, rights and benefits in 2 businesses, namely the production of petrochemical products In the case of trapping technology Carbon Capture, Storage and Utilization (CCSU) is granted 8-year corporate income tax exemption and cold storage business or cold storage and cold storage transportation business. In the case of using natural refrigerants Receive 3 year corporate income tax exemption benefits

The opening of the investment promotion of natural gas separation plants using capture technology utilization and carbon sequestration by giving him 8-year corporate income tax exemption benefits

3. Stimulate Thailand as a center for electric vehicle production by agreeing to improve the policy to promote investment in electric vehicle production to support the electric vehicle industry, which is the country’s target industry by expanding the scope of the business type of battery electric vehicle (BEV) production, including electric vehicles electric tricycle and electric buses and battery electric trucks to cover the production of a battery electric vehicle platform (BEV Platform) shared between different brands and models of electric vehicles. which reduces the need for raw materials Save time and money in production and develop new electric vehicles into the market. causing economies of scale

The platform must include an Energy Storage System, Charging Module and Front & Rear Axle Module. It is also open for investment in electric bicycle manufacturing. with 3-year corporate income tax exemption benefits and if Traction Motor is produced and/or electric bicycle frame is manufactured from lightweight materials within 3 years from the issuance of the promotion certificate will be entitled to an additional 1-year corporate income tax exemption per case. In addition, additional benefits are also requested if there is research and development.

In addition, approval to promote investment in the business expansion project of Glow Energy Public Company Limited to produce electricity and steam in the cogeneration system. In Map Ta Phut Industrial Estate, Rayong Province, with a capacity of 200 megawatts of electricity and 460 tons of steam per hour, with an investment of 6,000 million baht, which is in line with the country’s power development plan 2018-2037 (PDP 2018).

For the overall picture of the electricity generating business during the first 6 months (Jan.-June) of 2021, 198 projects submitted for investment promotion, or 25% of the total number of projects submitted for investment promotion. and an investment value of 120,814 million baht or 31% of the total investment value of projects submitted for promotion in the last half year

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