BOI’s Investment Promotion Measure in the EEC
The Board of Investment’s (BOI) investment promotion measure in the Eastern Economic Corridor (EEC) is especially designed to boost targeted investment activities in designated areas in three provinces: Chachoengsao, Chonburi and Rayong. Private sector is encouraged through this measure to involve in human resources development in the businesses.
The development of the EEC Area is one of the government’s policies to drive Thailand towards the new era of Thailand 4.0. Investments in targeted industries in the aforementioned areas are entitled to higher incentives.
Projects eligible for investment promotion incentives in the Eastern Economic Corridor must have the following three qualifications, as follows:
1. Projects in targeted industries
The targeted industries which will drive the Thai economy towards sustainability consist of:
2. Cooperation with institutions/organizations e.g. Center of Excellence
Investment projects applying for incentives under this scheme must establish a close cooperation with educational and research institutions, Center of Excellence etc. The types of cooperation must be approved by the BOI e.g. cooperation in the area of Talent Mobility, Work-integrated Learning (WiL), Dual Vocational Training (DVT), Cooperative Education, special vocational education projects in the EEC or other types of cooperation to develop human resources or technology.
Cooperation plans for Dual Vocational Training, Cooperative Education, Work integrated Learning or other similar types of cooperation must be submitted. The plans must describe vocational training plans and numbers of students according to the criteria.
The existing requirements for human resources development in certain projects, such as Innovation Incubation Center, are not considered as a fulfillment of the conditions set under the EEC measure.
3. Projects must locate in Chachoengsao, Chonburi and Rayong and must locate in the following designated areas:
3.1 Investment promotion zones for targeted activities
3.2 Investment promotion areas for targeted industries, designated by the Eastern Economic Corridor Policy Committee. Currently there are 21 designated areas as follows:
3.3 BOI-promoted industrial estates or zones
BOI-promoted industrial estates or zones in Chachoengsao, Chonburi and Rayong consist of the following 19 areas:
Project application must be submitted before December 30, 2019. For further information please visit our website www.boi.go.th