BoI privileges considered for investors in Bt846m cross-border transport centre in Nakhon Phanom
The Board of Investment (BoI) has agreed in principle to a public-private partnership project to build a cross-border transport centre in Nakhon Phanom to promote border trade between Thailand and Laos, Transport Minister Saksayam Chidchob said on Wednesday.
“The project, to be overseen by the Department of Land Transport, will comprise an inland container depot and a distribution centre. It is believed that this project will boost the development of factories and warehouses in the areas,” he said. “Private firms investing in the project will obtain benefits under BoI’s regulations, including a reduction or exemption of corporate income tax for up to 13 years and tariff exemption on imported machinery.”
The cross-border transport centre will be located within the Nakhon Phanom special economic zone, which covers the districts of Muang and Tha Uthen.
Saksayam added that the department is in the process of expropriating land, which should be completed by the third quarter of this year. “We reckon private partners will be invited to invest by April this year and contracts should be signed before the end of the year,” he said. “A budget of Bt846 million has been earmarked for the project, which should be ready to go into operation by 2025.”
The ministry believes the transport centre will help reduce logistics costs for businesses in Nakhon Phanom and promote economic growth not just in the special economic zone but also in the rest of the Northeast.