Thai NATIONAL ECONOMIC AND SOCIAL DEVELOPMENT PLAN , Thai factories and investment
Thailand is no longer an agricultural country since the social development plan was set up since 1961. This year is 2017 which fall to the twelfth NATIONAL ECONOMIC AND SOCIAL DEVELOPMENT PLAN (2017-2021). In the early development plan, the strategically focused on developing infrastructure facilities, both in transportation and public health. Later they continue to develop in the countryside and balance income distribution.
Part to encourage for country development is encouraging domestic and foreign investment in the country and give so many benefits of private sector if they set up factories in Thailand. *1 . They set Thailand Board of Investment (BOI) as authorizes department to in charge of rules and regulation of facilities the investor.
Investment Government policy
Any investor sets up Thai factories in the promoted industry will get investment benefit such as exemption or reduction of duties and taxes of machinery, spare parts, and raw materials and sometime get income tax exemption for a long period of time.