BoI expects bright prospects for software industry
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The Board of Investment says it is pleased with investments in the software industry in the first seven months of this year after the approval of more than 107 projects with combined value in excess of Bt668 million.
The BOI is ready to support major software investors, such as electronic smart cards that cover all mass-transit segments (buses, Skytrain and MRT), and software for comprehensive corporate financial evaluation, summary and analysis.
BOI secretary-general Hirunya Sujinai said investment in the government’s “target industries” in accordance with the state’s “digital economy” policy continued to receive strong interest, especially from software-development firms.
Most of the projects approved by the BOI were related to software development for transport and logistics (tracking devices), corporations and banks (billings and payments), fourth-generation mobile telecommunication technology to support mobile devices, apps for price comparisons, online shopping, multimedia advertising, education, and animation.
The investments in software businesses comprised both value-added and new investments in order to keep up with changes in technology. The investment for each project may not be very high, but it will add considerable business value and fulfils the BOI’s aim of supporting new technologies and innovations in Thailand, it said.
Foreign interest in investing in the Thai software industry continues to grow, such as the cross-segment electronic smart cards for mass transit and software for comprehensive corporate financial evaluation, summary and analysis. Foreign investment will create a considerable number of jobs for local software developers, the BOI said.
Investors in the Thai software industry receive corporate tax exemptions for five to eight years with no specified limit on the total amount of exempted tax. The government wants to see Thailand as the regional hub of software development.
