BOI’s Vision: Thailand as a World-Class Events Hub and Electronics Powerhouse

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BOI’s Vision: Thailand as a World-Class Events Hub and Electronics Powerhouse

Thailand Board of Investment (“BOI”) is committed to positioning Thailand as a hub for organizing events and electronics powerhouse under significant measures in place which are: 1) promoting investment in events such as music festivals, sports, and international festivals, and 2) promoting investment in Printed Circuit Board (“PCB”) businesses.

  1. Promoting investment in events such as music festivals, sports, and international festivals

To recover the country’s tourism and entertainment sectors from the COVID-19 crisis, BOI grants incentives to attract world-class events by offering benefits to organizers of large international concerts, sporting events, and festivals with investments or expenses not less than THB 100 million (approximately USD 2.8 million). These benefits include exemptions from import duties on equipment to be used in such an event and easing the process of obtaining a visa and work permit for the foreign staffs.

  • Promoting investment in businesses related to Printed Circuit Board (“PCB”) businesses

Thailand Board of Investment has endorsed incentives to boost foreign investment for three supply chain sectors related to PCB businesses as follows:

  • Businesses involved in supporting PCB production processes such as lamination, drilling, plating, and routing;
    • Key manufacturers for PCB production, including flexible CCL (FCCL), copper-clad laminate (CCL), and prepreg; and
    • Producers of essential materials and supplies for PCB manufacturing businesses such as dry film, transfer film, and backup boards.

These supply chain sectors for PCB businesses will be eligible for exemptions on import duties for raw materials and machinery used in product exportation. Additionally, they may qualify for corporate tax exemptions for up to 8 years, based significantly on the materials, technology, and investment scale.

These measures cover a wide range of PCB-related businesses, including producers of PCB components and manufacturers of raw materials, and aim to enhance Thailand’s competitiveness in the electronics manufacturing sectors, the entertainment sectors, and the event industry sectors which in correspond with the Cabinet’s vision – Ignite Thailand – to elevate Thailand into a global hub for major events, aiming to attract the tourists from around the world. These incentives have been granted to those events and PCB related businesses by the BOI since 28 March 2024, enabling the BOI to promote the aforementioned businesses in Thailand.

Author: Panisa Suwanmatajarn, Managing Partner.

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