BoI focuses on skilled labour
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BoI focuses on skilled labour

The Board of Investment (BoI) plans four months of roadshows to push its new investment promotion policies to local and foreign investors.

The roadshows, aimed at explaining its new seven-year strategy starting next year, will begin in mid-December in major provinces such as Chiang Mai, Songkhla and Khon Kaen.

Abroad, the roadshows will move to Japan in next year's first quarter, acting secretary-general Hirunya Suchinai said.

The BoI, which promotes investment from local entrepreneurs and foreign investors alike, has outlined fresh investment promotions for the Thai economy's new high-technology strategy.

Current investment promotions provide zone-based incentives, but the new focus will be on projects that use high technology, research and development, design and industrial clusters in each region.

Investment promotions for 2015-21 received cabinet approval to raise the competitiveness of Thai industries, Ms Hirunya said.

"This policy is aimed at making Thailand a more attractive investment destination."

Activities eligible for promotion under the new strategy have been categorised as groups A and B.

The A-category investments will receive corporate tax exemption for activities deemed to be of high importance or knowledge-based investments even if they are not capital-intensive, as they could be crucial to the country's long-term competitiveness.

High-tech activities, complicated production processes and capital-intensive investments all fall into the A group.

B-group investments are not exempt from corporate income tax but can qualify for duty exemptions on imported machinery and raw materials for the manufacture of exports as well as non-tax incentives such as permission to own land.

Ms Hirunya said the government expected to increase the value of investment approvals by 30% over the seven-year period, while the BoI expected the value of R&D to rise by at least 20 billion baht a year.

The A group will include the software and animation industries as well as design and development projects deemed to improve Thailand's competitiveness.

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