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The Board of Investment (BOI) has expanded its tax privileges for investors in the Eastern Economic Corridor by offering to halve their tax burden for an initial period.
The corporate income tax rate is 20 per cent, but investors in the EEC will gain an eight-year tax holiday. Under the concession, they will pay only 10 per cent for the five years following the expiration of the tax holiday, BOI secretary-general Hirunya Suchinai said yesterday.
The EEC, taking in the provinces of Chachoengsao, Chon Buri and Rayong, is targeted for massive infrastructure spending to support technologically advanced industries.
The tax incentive will focus on targeted industries including advanced vehicle production, artificial intelligence, medical tourism, robotics, aviation, biochemicals, greener petrochemical production, infrastructure and logistics, and research and development, Hirunya said.

GGC PLANS STOCK LISTING

Global Green Chemicals (GGC), the green-focused chemical unit of PTTGC Group, plans to launch an initial public offering. It will offer up to 246,66 million of its primary shares and up to 37 million of its overallotment shares.
If the listing proceeds, GGC will be the first company engaged in more environmentally friendly chemical production to be listed on the Stock Exchange of Thailand. The subcription period is from April 20-24.
GGC produces methyl ester in Thailand and is the nation’s sole manufacturer of fatty alcohols.
 Jirawat Nooritanon, managing director of GGC, said the IPO proceeds would finance the construction of a second methyl ester plant in Nong Yai, Chon Buri, and the first phase of a Biocomplex project in Nakhon Sawan. The remainder will be retained as a working capital or for additional investments in the new projects.
GGC aims to expand its green chemicals portfolio in three product lines: biofuels, biochemicals derived from palm (oleochemicals) and sugarcane, and bioplastics, which the company says will become a key growth driver.
 GGC holds a total nameplate capacity of 300,000 tonnes a year for methyl ester, 100,000 tonnes for fatty alcohols, and 31,000 tonnes for refined glycerine.

CATHAY, LUFTHANSA STRIKE DEAL

Cathay Pacific and Lufthansa Group have entered into a cooperation agreement that expands both airlines’ reach.
The Hong Kong-based carrier will code-share on flights operated by Lufthansa, Swiss and Austrian Airlines to a number of destinations in continental Europe.
In turn, the Lufthansa Group will code-share on Cathay Pacific services to four of the airline’s most popular destinations in the southwest Pacific.
 Under the agreement, Cathay Pacific will offer 14 new destinations in Germany, Belgium, Hungary, Norway, Italy, Switzerland and Austria.
The Lufthansa Group will place its airlines’ codes on services operated by Cathay Pacific between Hong Kong and Auckland as well as between Hong Kong and Cairns, Melbourne and Sydney. Under a single booking, passengers from Frankfurt, Munich, Vienna and Zurich will be able to check through and transfer to their final destination in Auckland or Australia via Hong Kong International Airport.