Chakramon Pasukawanich, permanent secretary of the Industry Ministry, said the agency's working group would consider giving investors other non-tax privileges through related bodies including the Finance Ministry, the National Economic and Social Development Board and the Industry Ministry. The working group was set up by caretaker Deputy Prime Minister and Industry Minister Somkid Jatusripitak.

The BOI aimed to use the measures to draw more multinational investors.

Chakramon said the agency would focus on potential industries that have not been fully promoted, particularly those in medical areas.

"Major overseas investors to be targeted are from Switzerland and the United States. Those are now leaders in the industry," he said.

The BOI would also extend income-tax exemptions from eight years to 10 years. The agency will provide tax rebates for training, research and development, and investment consultants for certain companies.

"We will also provide investment engineers for investors, as happens in Europe and Malaysia," Chakramon said.

Some industries were already mature and there would be no more investment, "so we have to give them more benefits to attract greater interest". The move aimed to attract investment amid the current political uncertainty.

Road-shows would be staged overseas to outline the political and economic situation here. The agency would invite overseas chambers of commerce and banks.

The BOI recently talked with the US Chamber of Commerce. It will go to Japan next month for the same purpose.

Chakramon said gross domestic product was growing at 4 to 4.5 per cent and exports were the key to employment. "Therefore we have to bring more investors in this year."

Watcharapong Thongrung

The Nation