Thailand calls for top investors

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Thailand's industry minister Pongsvas Svasti

Thailand is calling for new foreign direct investment from first-tier investors as the country is rebuilding industry estates that have been devastated by the floods in November 2011.

According to Thailand’s industry minister Pongsvas Svasti, who spoke at a seminar on the ASEAN Economic Community in Bangkok this week, the supply chains in automotive, electronics and machinery are not only intact, but “the best in the region”.

The country will put strengthened effort into attracting foreign businesses as well as domestic investment, he said. While some manufacturing businesses in Thailand might relocate their production to neighbouring countries due to the recent minimum wage hike, investors that are looking for value-adding business will find “the best conditions” in Thailand.

The Thai Board of Investment has recently approved new incentives to boost projects in industrial estates in Ayutthaya and Pathum Thani provinces north of Bangkok, which were hit most by last year’s floods.

Svasti said investment projects in these industrial estates, which are categorised as Zone 1 that normally offers fewer incentives, would now enjoy an exemption from corporate income tax for eight years, up from three years currently. The tax exemption will now be 150 per cent of the total investment value, up from 100 per cent.

Thailand’s Prime Minister Yingluck Shinawatra said in March that the government will spend $72 billion on infrastructure over the next five years, and additionally will invest $11.4 billion in water management measures to ensure there was no repeat of the devastating floods of 2011.

A recent survey by the Foreign Direct Investment magazine of the Financial Times ranked industrial estates of Thailand the 12th-best economic zones in the world. The ranking is based on eight factors, including best transportation, facilities, cost effectiveness, and incentives.

The Industrial Estate Authority of Thailand said it wants to join with foreign investors to develop new estates in the northern and northeastern region.



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[caption id="attachment_2782" align="alignleft" width="190" caption="Thailand's industry minister Pongsvas Svasti"][/caption] Thailand is calling for new foreign direct investment from first-tier investors as the country is rebuilding industry estates that have been devastated by the floods in November 2011. According to Thailand's industry minister Pongsvas Svasti, who spoke at a seminar on the ASEAN Economic Community in Bangkok this week, the supply chains in automotive, electronics and machinery are not only intact, but "the best in the region". The country will put strengthened effort into attracting foreign businesses as well as domestic investment, he said. While some manufacturing businesses in Thailand might...

Thailand's industry minister Pongsvas Svasti

Thailand is calling for new foreign direct investment from first-tier investors as the country is rebuilding industry estates that have been devastated by the floods in November 2011.

According to Thailand’s industry minister Pongsvas Svasti, who spoke at a seminar on the ASEAN Economic Community in Bangkok this week, the supply chains in automotive, electronics and machinery are not only intact, but “the best in the region”.

The country will put strengthened effort into attracting foreign businesses as well as domestic investment, he said. While some manufacturing businesses in Thailand might relocate their production to neighbouring countries due to the recent minimum wage hike, investors that are looking for value-adding business will find “the best conditions” in Thailand.

The Thai Board of Investment has recently approved new incentives to boost projects in industrial estates in Ayutthaya and Pathum Thani provinces north of Bangkok, which were hit most by last year’s floods.

Svasti said investment projects in these industrial estates, which are categorised as Zone 1 that normally offers fewer incentives, would now enjoy an exemption from corporate income tax for eight years, up from three years currently. The tax exemption will now be 150 per cent of the total investment value, up from 100 per cent.

Thailand’s Prime Minister Yingluck Shinawatra said in March that the government will spend $72 billion on infrastructure over the next five years, and additionally will invest $11.4 billion in water management measures to ensure there was no repeat of the devastating floods of 2011.

A recent survey by the Foreign Direct Investment magazine of the Financial Times ranked industrial estates of Thailand the 12th-best economic zones in the world. The ranking is based on eight factors, including best transportation, facilities, cost effectiveness, and incentives.

The Industrial Estate Authority of Thailand said it wants to join with foreign investors to develop new estates in the northern and northeastern region.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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