Thailand’s BOI (Board of Investment) announced recently that they will be approving measures to reduce the impact of COVID-19 on business, including investment acceleration for the manufacturing of medical resources and equipment. The board also pushed forward incentives that will promote “smart-farming” tech based companies and research projects that will open up into a broad range of sectors.

Ms Duangjai Asawachintachit, Secretary General of the BOI, said  “In face of the unprecedented situation resulting from the virus outbreak, we have taken a range of measures to address the urgent needs of affected business sectors,” in the press briefing chaired by Prime Minister Gen Prayut Chan-ocha in Bangkok.

To meet the increasing demand for medical supplies as a result of widespread increase in the use of such equipment, the BOI has fast-tracked investment into eligible businesses and enhanced core benefits relating to the medical sector. This in the hope of accelerating investment into the sector, in-turn, creating a quicker turnaround for the medical equipment that is needed. This also included a confirmation f support to modify and transform the way in which production of such equipment is undertaken. Despite the push to increase production, Ms Duangjai upheld the need to respect the regulations set out by the government.

The measures approved include the following:

• Accelerate investments in the medical sector
• Temporary relaxation of investment conditions 
• Support to Research and Development
• Encourage the development of smart farming
• Approval of Mitsubishi Motors’ EV investment project
• Investment applications in January-March 2020

For more information, please contact:

Thailand Board of Investment

Tel. +66 (0) 2553 8111

Website: www.boi.go.th