BOI provided investment privileges worth over Bt481 billion in 2020
The Thailand Board of Investment (BOI) provided investment privileges for 1,717 projects worth Bt481.15 billion to private companies last year, Government Spokesman Anucha Burapachaisri said on Sunday.
The BOI revealed the figures during a meeting with Prime Minister General Prayut Chan-o-cha last week.
Companies approved by the BOI will be exempted from corporate income tax equivalent to 100 per cent of their investment value, excluding land fee and rotational funds.
“Of the total investment privileges provided, 48 per cent are in target industries that the government deemed important to drive the country’s economy forward, such as electrical and electronics [Bt50.3 billion investment], agriculture and food processing [Bt41.1 billion], automotive components [Bt37.7 billion], petrochemical [Bt36 billion], and biotechnology [Bt30 billion],” said Anucha.
“Medical industry is the sector with remarkable expansion in privilege applications filed with the BOI at 83 projects, a 177 per cent increase compared to those in 2019, with total investment value at Bt22.2 billion, increasing 165 per cent year on year,” he added.
The BOI also reported that in 2020 there were 453 projects receiving investment privileges in the Eastern Economic Corridor (EEC) areas, with total investment value at Bt208.7 billion, most of which are in infrastructure, basic industrial services and transportation.
“Prayut has said that in 2021 investment promotion by the BOI should focus on BCG [bio-circular green], medical, and digital industries that use high technology to improve the country’s manufacturing and service structure and increase our competitive edge in modern industries after the Covid-19 situation improves,” added Anucha.