BANGKOK, June 30 (Reuters) – Thailand has offered incentives to attract investment in growing semiconductor, digital and packaging sectors to meet growing global demand in the face of coronavirus outbreaks, a the country’s investment agency announced on Wednesday.
Initial capital and technology-intensive manufacturing such as wafer manufacturing will benefit from 10-year tax exemptions, the Board of Investment (BOI) said in a statement.
Advanced integrated circuits, IC substrates (integrated circuits) and printed circuit boards projects with a machinery investment of at least 1.5 billion baht ($ 46.8 million) will receive tax relief of eight years old, he said.
âThe semiconductor industry has seen increased demand and companies are looking for greater resilience in the global supply chain,â said Duangjai Asawachintachit, director of BOI.
Businesses requesting privileges from the BOI for software development, a digital services platform or digital content will also be eligible for eight-year tax exemptions, the BOI said.
Stronger investment incentives will be offered to so-called smart packaging and environmentally friendly packaging, including recycled materials, he said.
($ 1 = 32.05 baht)
Report by Kitiphong Thaichareon Writing by Satawasin Staporncharnchai; Editing by Martin Petty
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