BOI supports Songkhla’s ฿53 billion manufacturing base amid flood crisis
Board of Investment (BOI) assists flood-affected businesses in Songkhla, accelerating relief efforts and supporting economic recovery with 191 projects worth ฿53 billion.
Narit Therdsteerasukdi, Secretary-General of the Board of Investment (BOI), stated that the recent devastating flooding in southern Thailand, which has caused significant damage to both lives and property, has prompted the BOI to extend its support to affected citizens and businesses.
The BOI has implemented measures to mitigate the economic impact of the disaster and assist affected businesses in their recovery efforts.
The BOI’s support comes through the “Flood Relief Measures for Promoted Investment Projects,” which was first announced in 2024.
These measures include exemptions from import duties on machinery to replace damaged equipment, the ability to write off damaged machinery and raw materials without tax burdens, and the option to increase production capacity through the purchase of new or replacement machinery.
Further details can be found in the Investment Promotion Committee’s announcement No. 15/2024 and the Office Announcement No. P.7/2568, which outlines the procedures for requesting support, such as project amendments, claiming benefits, and providing evidence of damage.
Businesses that have been affected can contact the BOI's headquarters for assistance via telephone at 02-553-8111, email at [email protected], or through the Line app (Line ID: @boinews).
Songkhla province, a key manufacturing base in southern Thailand, is home to 191 investment promotion projects valued at over 53 billion baht.
These projects cover a wide range of industries, including food processing, agricultural product manufacturing, aquaculture, biomass power generation, and rubber processing. These industries play a crucial role in the region's economic development.
Songkhla is an economic and industrial hub in the south. The impact of this flood disaster has caused widespread damage, significantly affecting local businesses. The BOI is ready to assist affected businesses by offering tax relief measures to help them recover quickly and resume operations,” said Narit Therdsteerasukdi.
Entrepreneurs wishing to apply for assistance under these measures must be located in areas that have been declared disaster zones due to the flooding.
Applications, along with supporting documentation of damage, must be submitted within six months of the end of the flood crisis.
The "end of the flood crisis" refers to the date the flood emergency ends, as announced in the disaster area declaration or the emergency disaster relief zone for flood-affected areas.
