Thailand approves investment incentives for new airport zone

Investments in aviation and logistics are ready to take off in Thailand. Last week, the cabinet approved a raft of attractive incentives for those investing in a special economic zone centered around the airport and logistics center in the Eastern Economic Corridor (EEC).

The EEC is home to the Kingdom’s most advanced industries and serves as its leading trade and export center. Thailand is already a regional aviation hub, but the Kingdom is taking that to the next level by expanding and upgrading  U-Tapao airport in the EEC. That will give Bangkok and its surrounding provinces three major international airports.

Government Spokesperson Ratchada Thanadirek said that the incentives include corporate income tax exemption of up to 15 years for businesses in the area and a tax exemption for dividends. Personal income tax benefits are being considered by the cabinet.

Aviation, aerospace and logistics are all priority sectors under the government’s 20-year plan for advanced national development. The EEC, a three-province zone just east of Bangkok, is the premier investment location for advanced industries in Thailand.

It includes an aerospace industrial estate adjacent to U-Tapao airport. In addition, a city is being built in the airport zone that will include five-star hotels, world-class restaurants, conference centers and entertainment venues. All three international airports in the greater Bangkok area will be linked by a high-speed rail network.

Photo courtesy of https://www.sme.go.th/en/page.php?modulekey=381