BoI offers benefits for advanced tech training

BoI offers benefits for advanced tech training

Private companies trying to develop human resources for high-tech industries can take advantage of promotional privileges from the Board of Investment (BoI).

Deputy Prime Minister Somkid Jatusripitak said companies can enjoy the BoI's promotional packages if they establish their own human resource development academy or partner with universities to provide workers to supply high-tech industries.

The tax measures will also be available to companies that organise training programmes for employees in technology, Mr Somkid said. This package focuses on vocational and other non-traditional degrees to address the labour shortage in the sector.

Details of the tax incentives for human resource development will be tabled at today's economic ministers meeting chaired by Prime Minister Prayut Chan-o-cha.

Mr Somkid also urged universities to team up with private companies to develop human resources.

He said other measures to boost private investment, such as "tailor-made" investment policies, export stimulus measures and infrastructure development are in the pipeline.

Mr Somkid said the government needs to step up local economy development in parallel with export stimulus, as Thailand can no longer depend solely on exports, which constitute up to 70% of GDP.

The trade war is likely to be prolonged because US President Donald Trump is expected to use his attacks on China as leverage in next year's presidential election.

"The economic stimulus measures, an acceleration of government and state-owned enterprise investment and infrastructure projects will help the economy pick up in the fourth quarter," Mr Somkid said. "Stimulus measures will also help drive economic growth this year to reach the targeted 3%."

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