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BOI Thailand
D E C E M B E R 2018

FOREIGN DIRECT INVESTMENT
N E W S F R O M T H A I L A N D
An Update on News Impacting Business in Thailand and the ASEAN Region

At this joyous time of year, we are excited to share some updates on investment activity in Thailand.

In 2018, BOI has launched multiple initiatives expected to yield a "Golden Year of Investment" for Thailand in 2019. First of these is a new incentive package, intended to boost investment to Thailand's knowledge-based industries. The program, which took effect on November 19, 2018 and runs through the end of 2019, includes a 50% reduction of corporate income tax for three years. More information on this program can be found in the links section below.

The Thai government has also improved qualifications and criteria for the Smart Visa, in order to provide greater convenience for foreign investors and experts in targeted industries who are either already working or seeking to work in Thailand. The new Smart Visa expansion offers more benefits for Smart Visa holders, and more flexible qualification criteria for applicants. More information on the Smart Visa expansion is available below as well.
Below, I've included some recent industry news from Thailand you may find interesting.

BOI Thailand wishes you and your family abundance, happiness, and peace in the coming year. Happy Holidays and Happy New Year!

Vorawan Norasucha
Director
Thailand Board of Investment, North America
nyc@boi.go.th

THAILAND'S FDI EXPANSION NEWS

	2019 Slated to be Thailand's "Golden Year of Investment" According to BOI The Thailand Board of Investment (BOI) announced a new investment incentive package as well as an expansion of the Smart Visa program. Thailand earned 38th place in this year's World Economic Forum (WEF) global competitiveness index 4.0 rankings of 140 nations.
	Smart Visa made easier to help foreign experts The Board of Investment (BOI) agreed to improve the qualifications, criteria and incentives for the Smart Visa, a special visa issued to highly-skilled experts, investors, senior executives and startup entrepreneurs working in targeted industries.
	4 EEC projects worth B470bn get nod The cabinet has endorsed four infrastructure investment projects worth a combined 470 billion baht under the government's flagship Eastern Economic Corridor (EEC) scheme.
	BMW Group Thailand Localized High-Voltage Battery Production BMW Group Thailand has set its sights on another milestone in Thailand's journey towards a future of electro-mobility with local high voltage battery production – at a new production facility located in WHA Chonburi Industrial Estate 2.
	BOI Approves Grant for Mazda Hybrid EVs Japanese carmaker Mazda Motor Corporation is poised to produce hybrid electric vehicles (EVs) in the country after the Board of Investment (BoI) granted a 11.48-billion-baht investment application.
	Mercedes-Benz Exploring Incentives for Battery EVs Mercedes-Benz Thailand is studying the possibility of applying for Board of Investment (BoI) incentives for battery electric vehicles after winning privileges for two related projects, plug-in hybrid EVs and lithium-ion batteries.
	Toyota Brings Forward Thai Hybrid Battery Production Toyota plans to bring forward its investment in its Thai hybrid vehicle battery plant by a year citing potential shortages of batteries in Japan, according to local reports.
	Cargill Grows Business in Thailand with $70 Million Investment in Seafood and Poultry The $70 million investments are part of the company's global innovation strategy to leverage technology, in support of the needs of partners and customers.
	DOW New Polyol Plant opens in Rayong The Dow Chemical Co (Dow) announced the opening of a new world-class polyol plant for rigid polyurethane foam in Rayong, Thailand.
	ABB Ties up with KMITL for Robotics Zurich-based technology provider ABB is teaming up with King Mongkut's Institute of Technology Ladkrabang (KMITL) to promote robotics education in Thailand. Both parties signed an agreement to foster cooperation and put in place a framework that facilitates R&D.

About BOI

The Thailand Board of Investment (BOI) is the investment promotion agency for Thailand that assists foreign investors in identifying business opportunities, providing tax incentives and privileges, and supporting foreign companies seeking to expand into the Asian market. Our services are free of charge and customized to help your business succeed in Thailand.

For more information, please visit www.thinkasiainvestthailand.com or www.boi.go.th