Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Thailand Board of Investment Approves Incentive Scheme for "Smart City" and High Quality Housing for Better Living


News provided by

Thailand Board of Investment (BOI)

21 May, 2018, 11:17 GMT

Share this article

Share toX

Share this article

Share toX

BANGKOK, May 21, 2018 /PRNewswire/ -- The Thailand Board of Investment (BOI) has approved investment incentive schemes for "Smart City," an initiative that will employ advanced IT systems and innovations to improve quality of life. The board has also agreed to promote high standard housing for better quality of life of workers, and agreed to extend the promotion period for investments in 10 Special Economic Zones (SEZs) to the end of 2020.

Photo - https://mma.prnewswire.com/media/694139/BOI.jpg

This image opens in the lightbox
Thailand Board of Investment (BOI) (PRNewsfoto/Thailand Board of Investment (B)

Ms. Duangjai Asawachintachit, BOI Secretary General, revealed after the BOI board meeting chaired by Prime Minister General Prayut Chan-o-cha that several important investment promotion measures approved by the board will have positive impacts on people and the entire country, from quality of life improvements for workers to the promotion and development of technological advances and innovations.

Smart City Promotion Incentives

At the meeting, the board approved investment promotion incentive schemes for the development of the "Smart City" project. Smart City is designed to upgrade people's quality of life in 6 intelligent platforms, namely efficient transport (Smart Mobility), education and social equitability (Smart People), life security (Smart Living), ease of doing business (Smart Economy), efficient public services (Smart Governance) and green energy, clean, and safe environment (Smart Energy & Environment).

The main area of investment promotion for the Smart City comprises two key activities. 1) Smart City development: BOI will provide incentives for investors planning to develop Smart City infrastructure systems, including such telecommunication infrastructure as fiber optics, public Wi-Fi provision, and Open Data Platform schemes. The project's basic infrastructure must include the 6 aforementioned intelligent platforms. 2) An incentive scheme to support intelligent network developers: The incentive scheme has been designed to benefit IT system developers who create, install and provide at least one out of the six areas of targeted services to support the Smart City system. Investment projects under these two categories will be granted 8-year of corporate income tax exemption (100 per cent of the total investment without land cost and working capital is eligible for an exemption from corporate income tax).

"The government's goal is to improve the quality of life of the people in six key areas and therefore promote investments in basic infrastructure development for Smart City," Ms. Asawachintachit said. "In the end, we are aspired to see more benefits for the people, such as efficient and well-connected air, sea and land transport routes; improved social equality for all citizens including the disabled and the elderly; enhanced safety and security; improved ease of doing business; as well as more efficient public services, energy consumption and better management of natural resources."

Technology and innovation enhancement

BOI board also approved the amendment of incentive schemes for investments in science and technology, and in the Eastern Economic Corridor (EEC). More tax incentives will be given to science and technology development activities in order to attract more investments in this area. Such incentives are 1) an up to 13-year corporate income tax exemption for projects in the Eastern Economic Corridor of Innovation (EECi) and the Digital Park Thailand (EECd); and 2) an up to 12-year corporate income tax exemption for projects in the Science and Technology Park outside the EEC.

Quality of life improvement

Considering people as a valuable asset that drive business and economic transformation, the board initiated a new investment incentive category for "international-standard housing project development" for both Thai and foreign workers. Such housing projects must meet the standards set by the International Labor Organization (ILO). In addition to ensuring that workers have access to international standard housing, the government aims to increase the quality of life of workers.

This measure is applicable for projects nationwide but incentive schemes will vary. The eligible housing projects located in 10 Special Economic Zones (SEZ) in 10 border provinces will receive a 6-year corporate income tax exemption while those located in other areas will be eligible for a 3-year CIT exemption (based on incomes from rental fees and a 100 per cent cap of the investment value, excluding land and working capital). Applications must be submitted by 30 December 2019.

Promoting the regional trading center

The board also initiated the "Smart Distribution Center" category as a tool to make Thailand the regional trading center supporting the rapid growth in e-commerce and e-logistics businesses and the development of digital economy. Such development is a key to enhance national competitiveness in terms of trade and investment.

Being considered a targeted industry, "Smart Distribution Center" projects located in EEC's specific promoted zones, namely EECi, EECd, and EEC Aerotropolis, Promoted Zones for Specific Targeted Industries, and other Industrial Estates or Industrial Parks, will receive incentives in addition to 8-year corporate income tax exemption (with maximum corporate investment cap of 100 percent, excluding cost of land and working capital) on income derived from international distribution services.

Some of the requirements for investors in "Smart Distribution Center" are to hire Thai personnel with good knowledge and experience in science and technology related fields such as engineering, artificial intelligence and data science, etc.; to implement data analytics or manage digital transactions based on advanced economy; and to provide training courses on advanced digital technology, especially Big Data and data analytics. More importantly, these investors must work closely with local educational institutes or research institutes on R&D projects.

SEZ investment application period extended to 2020

BOI board has agreed to extend the SEZs investment promotion measure, which covers the 10 border provinces (namely Tak, Trat, Mukdahan, Sa Kaew, Songklah, Chiang Rai, Nongkhai, Nakhon Panom, Kanchanaburi and Narathiwas) until 30 December 2020 (from 30 December 2018). The decision aims to encourage more investment in the targeted areas, given there is a number of investors considering to invest in infrastructure development projects in SEZs. Extension of the measure will increase confidence among investors who plan to develop targeted areas and establish businesses there.

For more information, please contact:

Thailand Board of Investment
Email: thailandinvestmentyear@gmail.com 
Tel. +66 (0) 2553 8111
Website: www.boi.go.th

Related Links

http://www.boi.go.th

Modal title

Also from this source

Thailand Approves Sunwoda to Invest More Than US$1 billion in EV Battery Cell Plants

Thailand Approves Sunwoda to Invest More Than US$1 billion in EV Battery Cell Plants

Thailand's Commission on the National Competitiveness Enhancement for Targeted Industries, at a meeting today, approved an investment by a unit of...

Thailand BOI Says 2024 Investment Applications Soar 35% to 10-Year High of USD33 Billion as FDI in Data Centers and Cloud Services Take the Lead

Thailand BOI Says 2024 Investment Applications Soar 35% to 10-Year High of USD33 Billion as FDI in Data Centers and Cloud Services Take the Lead

The Thailand Board of Investment (BOI) said today that applications for investment promotion in 2024 soared 35% in value to 1.14 trillion baht (ca....

More Releases From This Source

Explore

Banking & Financial Services

Banking & Financial Services

Computer & Electronics

Computer & Electronics

Internet Technology

Internet Technology

STEM (Science, Tech, Engineering, Math)

STEM (Science, Tech, Engineering, Math)

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.