Eco-car 2nd phase measures

Industry Minister Prasert Boonchaisuk said that he had assigned deputy permanent secretary Atchaka Sibunruang to lead the team drawing up the framework of investment incentive measures and the conditions of the project with the Office of Industrial Economics. 

Both are expected to jointly finish the details within one month. The ministry would announce them after that for auto companies to consider if they want to invest in the project. 

The Board of Investment (BOI) secretary-general, Udom Wongwiw-atchai, said that once the framework is finalised, it would be forwarded to the BOI committee chaired by Deputy Prime Minister Kittiratt Na-Ranong to determine the investment incentives and support. The BOI privileges are expected to be announced within this year. He added that the Industry Ministry would join the Finance Ministry to determine the excise rate for the second phase. The rate for eco-cars in the first phase is 17 per cent.

He added that the upcoming investment measures for the second phase eco-car would help Thailand achieve the car production target of 3 million units in 2017 and create continued related investment in auto parts. The BOI expects that the upcoming measures would attract at least three to four carmakers to take part in the project’s second phase.