BANGKOK: Thailand has offered incentives to attract investment in the growing semiconductor, digital and packaging industries to meet rising global demand amid coronavirus outbreaks, the country’s investment agency said on Wednesday.
Front-end capital and technology-intensive manufacturing such as wafer fabrication will be given 10-year tax holidays, the Board of Investment (BOI) said in a statement.
Advanced integrated circuits, IC (integrated circuit) substrate and printed circuit board projects with machinery investment of at least 1.5 billion baht (US$46.8 million) will be offered an eight-year tax break, it said.
“The semiconductor industry has experienced demand hike and companies are looking for more resilience in the global supply chain,” BOI head Duangjai Asawachintachit said.
Companies applying for BOI privileges for software development, digital services platform or digital content will also be eligible for eight-year tax holidays, the BOI said.
Enhanced investment incentives will be offered to so-called smart packaging and environmentally friendly packaging, including recycled materials, it said.
(US$1 = 32.05 baht)
(Reporting by Kitiphong Thaichareon; Writing by Satawasin Staporncharnchai; Editing by Martin Petty)
