BANGKOK, 5 August 2011 – The Board of Investment (BOI) is confident that the US economic crisis will not affect Thailand much because Thai investors have diversified their business to other regions with expanding economy.
BOI Secretary-General Atchaka Sibunruang Brimble admitted that impacts from the US economic crisis on the global economy will last for many years while Thailand will also be affected but only slightly as Thailand has been also promoting investment in emerging markets in Asia.
The secretary-general believed that investment in Asia will grow continuously, and the BOI will continue to focus on the market to avoid risk from the US economic crisis.
As for the policy of the Pheu Thai Party to reduce corporate income tax from 30% to 23%, Ms Atchaka said it will not affect the targeted investment of 400-500 billion baht this year. She said the BOI had discussed with Finance Ministry executives, and both shared the same view that investment promotion was still necessary.
The secretary-general told the press that at present the BOI is revising investment promotion criteria, including tax measures and privileges in order to attract more investment into the country. Details of the measures are expected to be concluded next month.
Ms Atchaka continued to say that the BOI investment promotion in the future will not only focus on investment value but will also consider projects’ quality such as infrastructural development, high-technology based industries and other projects conducive to sustainable development.
