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On 19 August 2014, the Thai Board of Investment (“BOI”) has announced a decision on the new strategy for investment promotion and a plan for the next 7 years. The new BOI policy aims at strengthening Thailand’s competitiveness, creating value for the industrial sector, and shifting the country to a high-income nation. It is expected to take effect at the beginning of January 2015. Since January 2013, detailed plans for such new strategy have been published and discussed widely, including new criteria for evaluating and measuring investment projects. The BOI plans to introduce merit-based incentives, and clusters – if the changes are realized, they will likely result in cutbacks in the overall volume of BOI incentives and they will certainly constitute a fundamental change of the BOI’s policy.
More details are expected to be announced by the BOI during road shows from October until December. We will keep you informed on this news blog.