Wednesday, September 23, 2020

Investors’ applications for tax breaks rise 7%

Aug 06. 2020
Duangjai Asawachintachit, secretary-general of the BOI
Duangjai Asawachintachit, secretary-general of the BOI
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By The Nation

New investors' applications for Board of Investment (BOI) tax privileges in the first six months rose 7 per cent year on year to 754 projects, said Duangjai Asawachintachit, BOI secretary-general.

The new projects’ total value stood at Bt158.890 billion, down 17 per cent year on year from Bt190.330 billion, due to the impact of the Covid-19 outbreak.

Applications to invest in the medical industry jumped 174 per cent to 52 projects, worth a total Bt13.070 billion, surging 123 per cent year on year.

The sharp rise follows the BOI’s introduction of new measures in April to promote more investment in the field, aimed at meeting rising demand on medical equipment suppliers amid the outbreak.

Of total applications in the first six months, 225 are projects planned in the Eastern Economic Corridor (EEC) worth a total Bt85.480 billion.

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