Better incentives for investors along Thailand’s borders
Thailand’s Treasury Department said it will make investment privileges for Special Economic Zones (SEZs) along Thailand’s borders as attractive as those for the Eastern Economic Corridor (EEC) so investors will have greater latitude in choosing a location for their businesses.
Improving the privileges aims to attract investors who want to develop land in the SEZs. The zones are located close to the borders with neighboring countries, to build the local and regional economies, said Yuttana Yimgarund, the Director-General of the Treasury Department.
More investment in border areas would also help spur growth and promote equal income distribution across the country, especially in smaller provinces and border regions. The latter holds great potential because of their proximity to the “green field” markets of neighboring countries.
Also, Thailand’s infrastructure, which is undergoing a significant upgrade, seamlessly connects manufacturers in border regions with the Kingdom’s seaports, airports and other logistics systems.
Yuttana said that part of the incentives for investors will be an extension of the lease period on land to 50 years from 30 years, while the rental fee will be waived for the first two years of the lease period.
He said that the Treasury Department is getting ready to open bids for the use of state land under its supervision in the SEZs in the border provinces of Nong Khai (upper northeastern), Mukdahan (northeastern) and Tak (western).
The Cabinet of Prime Minister Prayut Chan-o-cha is expected to approve the new incentives in October, making them official.
Photo courtesy of https://www.boi.go.th/upload/content/BOI-book%202015_20150818_95385.pdf