BoI upbeat on incentive goal

The Board of Investment (BoI) is confident of granting tax incentives to most of the remaining 433 submitted applications worth a combined investment of Bt270 billion this year.

BoI statistics show it approved 799 projects worth Bt268.8 billion in the first nine months, down from 1,017 projects worth Bt536.6 billion in the same period last

year.

"We're speeding up consideration of all projects awaiting approval and targeting approval of at least Bt200 billion worth of net applications in the final two months of the year," said secretary-general Atchaka Sibunruang Brimble.

She said the BOI would consider 50 projects during a subcommittee meeting today. Ten - each with an investment value of more than Bt750 million - will be considered by the board on November 5.

To cope with the global investment downturn next year, the BOI plans to offer a special package of incentives to entice investors to Thailand and encourage existing investors to expand.

"We used to consider extending our promotion period from eight years to 10, but that's quite difficult to revise, because of the complicated legal process. However, we think we should review and revise our promotion incentives and regulations in keeping with the changing global situation," she said.

Meanwhile, the BOI plans to follow up Bt100 billion worth of investment in auto parts with continuous investment in eco-cars.

Atchaka said it would start with Nissan, which is the most ready to assume eco-car operations. Other eco-car makers are Honda, Toyota, Suzuki, Tata and Mitsubishi.