Welcome to the newest issue of Thai News, with recent updates on economic and business news from Thailand.
 
As summer comes to an end, I'd like to share with you several updates about Thailand and foreign investment. This summer several announcements as they relate to incentives were made, including the BOI's offering maximum incentives to eligible investments in newly established Special Economic Zones (SEZs). Thailand also continues to take steps to increase regional integration with the establishment of the ASEAN Economic Community.

Prime Minister Gen. Prayut Chan-o-cha recently appointed Somkid Jatusripitak as Deputy Prime Minister. Somkid will spearhead the economic team tasked with spurring economic growth.  He has served as deputy prime minister and commerce minister in former cabinets and as an economic adviser to the National Council for Peace and Order (NCPO).

For more information about recent developments in Thailand, please visit us online.
  
 
Thank you,
 
Korbsiri Iamsuri, Director
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Thailand Outshines ASEAN in Solar Power

As of December 2015, Thailand will have more solar power capacity than all of Southeast Asia combined as the country begins shifting its resources to solar energy. Thailand's solar capacity will rise to 2,500-2,800 megawatts this year from about 1,300 megawatts in 2014, almost six times more than the capacity added last year. The new capacity will turn Thailand into the first significant solar-power producer in a region.

 

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The Thailand Board of Investment (BOI) reported a sharp increase of investment application approvals in first half of 2015. During this timeframe the BOI approved 1,254 projects worth a total of $11.5 billion USD (412.7 billion baht), compared to 744 projects worth $5 billion USD (185 billion baht) in 2014. The value of approved projects rose by 122% compared with the same period last year.   
 

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Thailand to Sign First Phase of Dawei Development Next Week

Thailand signed a $1.7 billion deal to develop the first phase of the long-awaited Dawei Industrial Zone in southeastern Myanmar. The project will link production in the southern economic corridor and will help solidify Thailand's presence in the global market. It is arguably Southeast Asia's most ambitious industrial zone consisting of a 100-square-mile deep sea port, petrochemical and heavy industry hub along the Thai-Myanmar peninsula.

  

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Thailand and Myanmar Sign Visa-Free Agreement

Thailand and Myanmar recently signed an agreement that will allow citizens with passports to make visa-free visits of up to 14 days. The agreement aims to boost tourism, trade and other ties between Thailand and Myanmar. The two countries also pledged to boost trade to $12 billion USD by 2017 and promote border trade activities.   

 

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BOI Offers Maximum Incentives to Eligible Investments in Special Economic Zones 

The Thai government recently introduced Special Economic Zones (SEZs) to accelerate trade and investment through promoting economic activities along Thailand's borders. Both tax and non-tax incentives are offered to investors in targeted industries comprising 61 business activities, including agro-industry and fisheries, logistics, tourism and various manufacturing businesses.

 

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DID YOU KNOW?

On average, auto companies invest over $1 billion in Thailand each year.
"We are committed to Thailand for the long-term. We have confidence in the future of the Thai economy and are optimistic about the considerable potential of the Thai market and the Indochina Region." 
Paul Bulcke, CEO 
Nestlé 
Thailand Port

The Thailand Board of Investment (BOI) is the inward investment promotion agency for Thailand that assists foreign investors in identifying business opportunities, providing tax incentives and privileges, and supporting foreign companies seeking to expand into the Asian market. Our services are free of charge and customized to help your clients succeed in Thailand.
CONTACT US

Korbsiri Iamsuri,
Director
Thailand BOI
7 World Trade Center
34th Floor, Suite F
New York, NY 10007 USA
Tel: (212) 422-9009

korbsiri@boi.go.th

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