Le Lézard
Classified in: Environment, Transportation, Business
Subjects: FOR, ENP

Thailand Reaffirms Its Commitment to Sustainability

BANGKOK, Jan. 25, 2021 /PRNewswire/ -- Today, the Thailand Board of Investment's (BOI) New York office announced the government's plans to implement a new 5-year economic strategy that embraces the Bio, Circular and Green (BCG) economy and a comprehensive set of tax incentives supporting growth of Thailand's Electric Vehicle (EV) industry. 

Underpinning the Thai Government's commitment to sustainability, the BOI's strategic plan to support the BCG economy, includes four key industries; agriculture and food; healthcare and medical services; energy and biochemicals; and the creative economy and tourism.

For the EV industry, the BOI implemented a new set of incentives covering major aspects of the electric vehicle supply chain, with a focus on battery operated electric vehicles. Four additional categories of EV components have been added to the program, namely high voltage harnesses, reduction gears, battery cooling systems and regenerative braking systems. 

The incentive package includes tax cuts for the local production of critical parts.

Thailand's EV incentives programs have had great success, attracting more than 26 investment projects, seven of which have already begun commercial operations. Nissan, Honda, and Toyota have begun producing hybrid electric vehicles, Mercedes Benz and BMW are producing plug-in hybrid electric vehicles, and FOMM and Takano are producing battery electric vehicles.

"BCG and Sustainability are at the forefront of Thailand's economic policy," said Vorawan Norasucha, Director of the Thailand Board of Investment New York Office, "Our tax incentives will continue to support the growth of clean industries and the uptake of green technology in Electric Vehicles and other sectors."

"Thailand is a big contributor to the global EV industry, and the success of our last incentives program underscored the demand for Thai-based operations from global OEMs and parts manufacturers."


The Thailand Board of Investment New York (BOI New York) is one of 16 BOI overseas offices.  The BOI New York team works with U.S. and Canadian companies, to facilitate foreign direct investment and to provide support services to companies investing in Thailand. BOI's services are free of charge and customized to help foreign businesses succeed in Thailand.

For more information, please visit www.boi.go.th and www.thinkasiainvestthailand.com

Press Contact
Sandy Pratt
[email protected]
+1646 496 7668

SOURCE Thailand Board of Investment

These press releases may also interest you

at 12:01
Neural Propulsion Systems (NPS), a pioneer in autonomous sensing platforms, today announced that Peter Löscher, former CEO of Siemens AG, has joined the NPS advisory board as an Executive Advisor. Löscher is recognized...

at 11:45
"I thought there should be a device to intercept tire shine solution to avoid rim contact," said an inventor, from Sutton West, Ontario, Canada, "so I invented the FLY WHEELS RIM COVER. My design would save time and it could improve tire polishing...

at 11:45
Adding to its growing senior leadership team, Hagerty (HGTY) today announced the hiring of Candace Mueller as Vice President of Brand Communications....

at 11:35
Analogic Corporation announced the successful deployment and installation today of its ConneCTtm Computed Tomography (CT) checkpoint security screening system in collaboration with the U.S. Transportation Security Administration (TSA) Checkpoint...

at 11:15
Motional, a global driverless technology leader, and Uber Technologies Inc today launched autonomous deliveries for Uber Eats customers in Santa Monica,...

at 11:07
Constantly changing weather conditions ? from wet to dry, back to wet again, and finally extremely wet ? made for an extremely challenging GMR Grand Prix today on the road course at the Indianapolis Motor Speedway. But at the end...

News published on 25 january 2021 at 10:00 and distributed by: