1. Other than the investment promotions of BOI, is there any incentives introduced under EEC Act? If there are, when those additional incentives and necessary announcements / by law will be released?
- Other incentives under EEC Act are shown on page 11 of EEC investment hand book (version Aug 2018).
- By law it will take 1-2 months (approx. October 2018) to enter into force.
2. Other than the incentives given by BOI, is there any incentives related to Free Zone or tariff reduction to be given under the EEC Act?
- No any other incentives are provided than the incentives given by BOI.
3. In case a company is to invest in the area of EEC which is not the investment promotion zone, what kind of incentives can the company gain, and how to apply?
- BOI provides incentives for investment outside EEC promotion zone as well, details are shown on page 10 of EEC investment hand book (version Aug 2018).
4. Is there any plans for the areas that are currently not set as the investment promotion zone (e.g. Bangpoo or Gateway) to be the new investment promotion zone in the future?
- Currently there are 21 EEC industrial promotion zones and some are on the process of getting approved. However, Bangpoo could not be applied as the location is outside EEC.
5. Among the next-generation automobile industry, what kind of vehicles are expected to be promoted in particular (e.g. BEV, PHV, FCV)?
- Last year all HV, PHV and BEV were BOI promotion but this year HV promotion scheme is invalid.
6. Except for the 10 target industries, is there any other activities considered to be significant (e.g. distribution center of warehouse business)? Would there be any incentives to be endorsed to these activities in the future?
- There are 117 types of activity in BOI promotion that cover 10 target industries and other industries.
- BOI has continuously adjusted the types of activity suitable for Thailand industry development. Some types are being invalid and some types are preparing to get promotion. Investors should contact BOI for the updated conditions.
7. What’s the target projects of “Digital Industry”? System Integrator related to robot industry, or manufacturing robots itself, get incentives?
- System Integrator is being promoted by BOI, as it is the key activity for Robotic industry development.
8. What are the expected projects / companies to be invested in medical hub in EEC? Is there any cases of company that already invested in this sector in EEC?
- EEC needs advance medical company to invest in EEC. Incentives given by BOI include medical devices, advance medical services and pharmaceutical industry.
- There are some advance medical companies already invested in EEC.
9. Is it appropriate to recognize all IEAT industrial estates in EEC as the investment promotion Zone?
- It is appropriate if they request, to recognize all IEAT industrial estates in EEC as the investment promotion zone as they are
- Good governance in term of environmental concern
- Utilize the unutilized lands instead of use new green fields
10. If we are going to make an application to EEC office with the activity that BOI already removed from the list of activities eligible for promotion (under the 2015 Investment Promotion Act), would there be any incentives given?
- No incentives are provided in case that activity is not promoted by BOI anymore.
11. What is the difference between EEC office and BOI in terms of the role? For instance, in case a company intends to apply for the investment promotion in EEC, where should the company contact first?
- Investors should contact BOI first, step is shown on page 11 of EEC investment hand book (version Aug 2018).
12. For those companies that are currently being promoted by BOI of IEAT incentives, would there be any incentives to be given in EEC? In addition, for those companies that their promotions are lapsed, would there be any incentives to be given in EEC?
- No incentives provided in case of already invested and operated.
13. As for the incentive for personal income tax given by the revenue department, is it based on the EEC Act and only be provided in EEC area? For example, should investors get a permission from EECO first, then go to the revenue department to get this incentive?
- Revenue department gives incentive for personal income tax for the experts that working in EEC. Firstly, the project has to get approval from BOI then foreign experts of project submit the application form directly to revenue department.
14. In order to gain the incentive of EEC, it is necessary to accept a certain number of trainees. How do we make a contact to the educational institutions? In addition, is there any cases of company that already implements this scheme?
- BOI can give details of that criteria. Please contact BOI for details.
15. Would there be any incentives in terms of work permit and visa for the investment in EEC? For instance, work permit can be given with the letter from EEC office?
- BOI can give details of terms of work permit and visa for the investment in EEC. This incentive is so-called Smart VISA
16. We understand that the criteria for an application for “Smart VISA” is very high in terms of monthly salary (e.g. at least 200 thousand Baht/month). Is there any plans to ease this salary criteria?
- Smart VISA is on process of reviewing for example 200 thousand is salary + other benefits etc.
17. The restricted activities in List 2 and 3 under the Foreign Business Act can be done by a company with 100% foreign capital by gaining the incentives from BOI or IEAT. Does EEC offices have such authority under the EEC Act? Which activities are going to be deregulated if EECO has such authority?
- EEC does not have plan to deregulate the restricted activities in List 2 and 3 right now.
18.What’s the required condition to make an application for BOI++? Especially, how can investors access to the Thai government’s fund for R&D and HRD?
- Should be 10 targeted industries with advanced technology and its benefits impact to nation-wide.
19. Other than “Smart VISA”, is there any additional incentives planned to secure higher human resources (e.g. experts, specialists). We’d like to ask EECO and BOI on any plans for additional incentives for VISA, and ask Revenue Department for any plan for income tax reduction.
- Don’t have any additional incentives planned to give so far.
20. When and how many detailed announcement / by laws will be released under the EEC Act to actually implement the law?
- There are about 28 items to be announced by law. The important items will be announce within October and beyond
21. Is there any specific sector where Japanese companies made a lot of investment in the past? And, in which industry do Thai government expect investment from Japanese investors the most? In line with this, we’d like Thai authority to share some examples of projects launched in EEC by Japanese companies so far. And, any bottlenecks for investors?
- Automotive, electrical and electronics and home appliances are the most investment in the past. Thai government expects to see Japanese investors invest in new 5 S-curves such as Robotics, Aviation, and Advanced Medical etc.
22. As for the Thai governments “Master plan on infrastructure development in EEC”, is it still being made? Or when will it be completed.
- It is still being progress and executed. All projects will be completed within 5-6 years from now.
23. It seems that there are delay in timeline for some PPP projects (e.g. high speed train connecting 3 airports, U-tapao airports expansion) Is there any bottle necks for those infrastructure developments?
- All the schedule of PPP infrastructure projects are fixed of time line. Investors can follow actual progress on EEC website
24. Is there any plans for Thai government to make an investment in introducing “Wireless Charging System”, which can be useful to increase the number of Electric Vehicle (EV) in Thai market?
- We have already set up more than 80 EV Charging stations so far but we don’t have plan to introduce “wireless charging system” as it is costly and too early to do that.
25. Is there any plans for Thai government to increase financial support (e.g. more budget allocation, guarantee the number of users) for private companies joining PPP projects to ease their burden?
- Thai government don’t have plan to increase financial support. We do following the net cost basis consequences from the studying of consultant.
26. What’s the latest timeline / schedule for PPP projects (e.g. TOR, Bidding, start construction etc?)
- Please follow master time line of PPP infrastructure projects that given in EEC website.