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Investment Promotion Policy for Industrial Development in Border Provinces in Southern Thailand

Investment Promotion Policy for Industrial Development in Border Provinces in Southern Thailand

To boost investment in the southern border provinces and to establish model cities under the slogan “Stable, Affluent and Sustainable Triangle”, the BOI promotes private sector’s investment in the designated provinces, in order to help locals generate income which will lead to an economic expansion in the future. The investment criteria are as follows:


 


Investment Promotion Policy for Industrial Development in Border Provinces in Southern Thailand


Investment Promotion Policy for Industrial Development for model cities under the slogan “Stable, Affluent and Sustainable Triangle”

1. Area

Southern Border Provinces refers to

1. Narathiwat

2. Yala

3. Satun

4. Songkhla

5. Four Districts in Songkhla which consist of Jana District, Natawee District, Saba Yoi District and Taypa District

1. Nong Chik Distric, Pattani to be the model city of Agricultural Development Industry City

2. Betong Distric, Yala to be the model city of Sustainable Development City

3. Su-ngai Kolok District, Narathiwat to be the model city of International Border City

2. Activities Eligible for Investment Promotion

Activities under BOI Announcement No. 2/2557 on December 3, 2014 (Include the announcements that alleviate the conditions of some activities)

- Activities under BOI Announcement No. 2/2557 on December 3, 2014 (Include the announcements that alleviate the conditions of some activities)

- Six additional activities

1) Animal food products and animal food ingredients

2) Manufacture of construction materials, and manufacture of prestressed concrete for public utility (except manufacture of Ceramic tile roof, floor tile and wall tile)

3) Production of body used ingredients (except cosmetics)

4) Production of plastic products for consumption goods

5) Production of fiber products

6) Office and building development for industrial use/ warehouses

3. Existing Investment Projects

- All implemented projects, whether promoted or not, in which the activity must be eligible for investment promotion

- Activities-based do not necessary to located in the areas according to No.1

4. New Investment Projects

- New investment project applying for investment, in which an existing juridical person or a new juridical person, in which the group of owners of the existing project must be the principal shareholders

- Activities-based must locate in the areas according to No.1

5. Conditions (Existing Investment Project)

1. Minimum capital investment requirement is at least 500,000 baht (excluding cost of land and working capital)

2. Projects are allowed to utilize domestic used machinery in the promoted project with a value not exceeding 10 million baht and required investment in new machinery must account for at least one fourth of the value of the used machinery

3. Applications must be submitted by December 30, 2020.

6. Conditions (New Investment Project under promoted areas)

1. Minimum capital investment requirement is at least 500,000 baht (excluding cost of land and working capital)

2. Projects are allowed to utilize domestic used machinery with a value not exceeding 10 million baht and investment in new machinery must account for at least one fourth of the value of used machinery

3. Applications for existing projects must be submitted when the new projects are complete and ready for commencement of operation

4. Applications for new projects must be submitted by December 30, 2020, with confirmation letter on existing investment

7. Incentives for New Investment Project

8-year corporate income tax exemption (without cap)

Additional 50% reduction of corporate income tax for a period of 5 years

Double deductions on the cost of transportation, electricity and  water supply for a period of 15 years

Double deductions on the cost of transportation, electricity and water supply for a period of 20 years

Additional 25% deduction of the cost of installation or construction of facilities

Exemption of import duty on machinery

90% import duty reduction on raw materials used in manufacturing for domestic sales for 5 years

90% import duty reduction on raw materials used in manufacturing for domestic sales for 10 years

Exemption on import raw materials used in manufacturing for export for 5 years

Exemption on import raw materials used in manufacturing for export for 10 years

Permit to bring unskilled foreign labors into the Kingdom on the activities that are eligible for investment promotion

8. Incentives for Existing Investment Project

3-year corporate income tax exemption (subject to cap which accounts for 100% of investment capital in new projects)

5-year corporate income tax exemption (subject to cap which accounts for 100% of investment capital in new projects)

Other similar incentives as the incentives granted for existing projects.




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