Thailand Investment Policyinvestmentpolicyhub.unctad.org/Upload/Documents/Day… · ·...
Transcript of Thailand Investment Policyinvestmentpolicyhub.unctad.org/Upload/Documents/Day… · ·...
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Thailand Investment Policy By
Chokedee Kaewsang Deputy Secretary General
Thailand Board of Investment 27 May 2013
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Agenda
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1. Investment Policy : Past- Present 2. Future Policy Direction 3. Lessons learned
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Trade & Industrial liberalization
for the country and regions Export
promotion
First Industrial Promotion
Act
Thailand Investment year
(Economic and Political Crisis)
Import substitution
Industrial Promotion Act, 1954
Financial crisis
Competitiveness Enhancement
- National Executive Council Announcement No.227 - Investment Promotion Act, 1977 (Amended 1991) - Eastern Seaboard Development
Announcement no. 1/36
Relaxation of investment Promotion criteria
- Announcement no. 1/43 - Amendment of Act no. 2001 - Increase CAP - Adjust the rules and regulations to conform the WTO’s - Focus on proactive marketing strategy
Special measures and incentives
- National Executive Council Announcement No.33 – Industrial Promotion Act,1960 - BOI founded in 1966
Sustainable Investment
- New vision - Sustainable
investment policy
Investment policy : Past – Present-Future
Economic Restructuring
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Tools/Measures
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● Tax incentives
● Non-tax incentives ● Information Provision ● Service Provision ● Conditions on Performance Requirement ( Environment, Standards, Technology
transfer, etc.)
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Investment for sustainable scheme
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Environment
Economic Social
Sustainability
New direction approved by the Board on 25 January 2010
: to encourage “Investment for Sustainable Development”
Investment Promotion Policy
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Special incentives for 3 groups of targeted activities
1) Manufacture of eco-friendly material and product
2) Energy saving and alternative energy 3) High technology activities
Investment for Sustainable Development Scheme
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Functional fiber Medical food Medical supplies or medical equipment Eco-friendly chemicals/products such as bio-plastic Biotechnology Nano-materials and products from nano-materials Advanced Ceramics Scientific equipment Research and development Traction motors for vehicles (hybrids or fuel cell cars) Battery for EV
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Thailand 1.0
Thailand 2.0
Thailand 3.0
Thailand 4.0 • Knowledge-based Economy • Creative Industry • Green Industry • Alternative Energy • Hospitality & Wellness • Logistics Hub
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ODM & OBM
• R&D • Product Champion & Specialty Products
Thailand’s Future Industry Direction
Rationale for revising investment promotion strategies
(Data compiled from 11th National Economic and Social Development Plan and Thailand’s Industrial Development Plan)
Elevate the standard and value-added creation
Agriculture
Light industry
FDI-based (Auto, E&E, Petrochemical)
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Promote investment to restructure Thai economy for sustainable development and to overcome “Middle Income Trap”
Promote competitiveness development and value creation of industrial sector
Promote green industry to drive balanced and sustainable growth Promote new industrial clusters in the regions to create new investment concentration Promote Thai overseas investment in order to increase competitiveness
of Thai businesses
New Investment Promotion Strategy Direction
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Basic infrastructure for industrial development
Industries that are developed from domestic resources and
Thainess
Industries that Thailand is
competent to be global manufacturing base
(Global Supply Chain)
Advanced core technologies that help elevate Thai industry
Future industries to be promoted
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To drive/set economic agenda VS being driven by them Limited expertise in some sectors/issues, need support from
resource persons/consulting firms Limited tools/measures, need coordination with related org. Outcome/impacts essential, but output more visible From output to outcome, need clearer KPIs Monitoring impacts of investments increasingly important Public participation has both pro. and con. Balancing benefits of stakeholders is essential but not easy When Policies conflict, hard to decide which policy is given
higher priority?
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Thank You