Special economic zone proposed for 3 southern border provinces

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YALA, 22 July 2012  – Mr. Yoosin Jintapakorn, president of the provincial Federation of Thai Industries (FTI) office of Yala revealed that currently, investments and trade in the southern border provinces are still lacking.

Previously, a group of investors had planned on opening a biomass power plant in Yala, with a budget of 600 million THB, but the project still failed to reassure Yala province that investment in the province would rev up in accordance with the established policy. Furthermore, the continuing unrest in the three southern border provinces makes new investors, particularly foreigners, wary of investing in the province. Thus, investors are more likely to turn to industrial estates in other provinces.

It is proposed that the government establish clear-cut investment policy and incentives, as well as putting into place security measures to safeguard both lives and property. These measures are intended not only for local investors, but also new investors, who require reassurances regarding industrial investment in the three southern border provinces.

The provincial FTI president also suggested that the government declare Yala, Narathiwat, and Pattani special economic zone, providing higher investment privileges, such as tax exemption of 8 up to 20 years and double deduction of corporate income tax.