BOI to draw new investment strategy

BANGKOK, May 18 (TNA) - The Board of Investment of Thailand or BOI will draw a new investment strategy, set to be complete by the end of this year, aimed at attracting more foreign direct investment or FDI into the country. Thai Industry Minister Prasert Boonchaisuk told reporters that BOI was ordered to map out the new investment strategy during its latest board meeting on Friday, chaired by Deputy Prime Minister and Finance Minister Kittirat Na-Ranong. Prasert said the BOI's new investment criteria, expected to be enforced on January 1, 2015, will be more transparent and assist local industrialists in adjusting their businesses. According to the industry minister, the BOI's new strategy will be focused on 10 targeted Thai industrial sectors, including food and agricultural processing, logistics, and alternative energy, but it will not support industries considered to have negative impacts on the environment, as well as those using too many workers but not creating added value. Under the new investment criteria, the industry minister acknowledged, advantages offering to the 10 targeted Thai industrial sectors will be divided into two parts, primary and additional benefits, especially on tax exemption which is expected to be extended from the current eight years to enhance Thailand's business competitiveness. (TNA)