Ten more industrial categories will be allowed to enjoy privileges given to those investing in special economic zones (SEZs) on top of the 13 approved earlier.
The additional categories comprise crop drying and silos, byproducts of farm products, production of metal structures, general printing, animal feed and raw materials, raw materials for construction, personal care and toiletry products, plastic products, products from pulp and paper, and factory and warehouse construction.
Porametee Vomolsiri, the newly appointed secretary-general of the National Economic and Social Development Board, said the first four categories now under the Board of Investment (BoI) promotion will be entitled to privileges including corporate income tax exemption for eight years plus a 50% reduction in the tax rate for five years once their tax holiday lapses.
The remaining six categories are industries that were deprived of investment privileges early this year after the new seven-year investment strategy was announced, which based privileges on the type of project, favouring those that support the digital economy such as high technology, research and development, and design and specific industries in the same designated cluster.
Previous promotional privileges fell under zone-based incentives.
Those six categories will be allowed to enjoy corporate income tax exemption for eight years on the condition that potential investors submit their applications to the BoI by June next year.
The BoI also early in the year announced a policy to offer the highest privileges to 13 industrial categories located in SEZs in Tak, Sa Kaeo, Trat, Mukdahan, Songkhla and Nong Khai.
The industries are agriculture, fisheries and related industries; ceramics; textiles, garments and leather; furniture; jewellery and ornaments; medical appliances; automobiles, machinery and parts; electrical appliances and electronics; plastics; pharmaceuticals; logistics; industrial estates; and tourism-related industries.
Mr Porametee said the committee yesterday approved a budget of 5.75 billion baht to finance infrastructure development in SEZs, 4.35 billion baht of which will be slated for the first phase and the rest for the second.
The first phase covers six provinces with seven checkpoints comprising Tak, Sa Kaeo, Trat, Songkhla, Mukdahan and Nong Khai.
The committee also assigned Deputy Prime Minister Somkid Jatusripitak to settle the land rental rate of the Treasury Department's land for the private sector to locate their factories.
The Treasury Department charges various rates, depending on location, for a 50-year term, with the highest upfront fee and the annual rental rate of 600,000 baht and 40,000 baht a rai for land in SEZs in Songkhla province.
The rental rate is subject to a 15% increase every five years. However, the private sector has requested the department instead charge a single rate of 200,000 baht per rai in all SEZs.
The second phase covers Narathiwat, Nakhon Phanom, Chiang Rai and Kanchanaburi.