Thailand offers tax breaks to lure foreign, domestic investment in four economic corridors
A meeting of the Special Economic Zone Policy Committee chaired by Prime Minister Gen Prayut Chan-o-cha on Friday approved measures to lure investment in four economic corridors for target industries.
The Board of Investment (BOI) will issue the measures, a government spokesman said.
The Northern Economic Corridor – Chiang Rai, Chiang Mai, Lamphun and Lampang – will target creative, digital, wellness tourism, agriculture and food companies.
The Northeastern Economic Corridor – Nakhon Ratchasima, Khon Kaen, Udon Thani, and Nong Khai – will target bioeconomy, agriculture and food companies.
The Central-Western Economic Corridor – Ayutthaya, Nakhon Pathom, Suphanburi, and Kanchanaburi – will target electrical appliances, electronics, agriculture and food companies.
The Southern Economic Corridor – Chumphon, Ranong, Surat Thani, and Nakhon Si Thammarat – will target bioeconomy, wellness tourism, agriculture and food companies.
The committee approved promotional measures to establish an ecosystem for target industries, offer tax and non-tax benefits for investors, develop infrastructure to promote business, procure funding sources, and amend existing regulations to make it easier to register and operate target industries.
The committee also granted BOI promotional privileges to another 17 types of business in the border special economic zones of Tak, Songkhla, Sa Kaew, Trat, Chiang Rai, Nong Khai, Nakhon Phanom, Mukdahan, Kanchanaburi and Narathiwat. Among the 17 newly eligible business are rubber-product manufacturers, traditional Thai medicine firms, and renewable energy generators.
