On January 21, 2022, the American Chamber of Commerce in Thailand’s (AMCHAM Thailand) Trade and Investment and Legal Committees hosted a virtual membership meeting between Ms. Duangjai Asawachintachit, the Secretary- General of the Thailand Board of Investment (BOI), and AMCHAM members.
AMCHAM Trade and Investment Committee Co-Chair, Marty Sinthavanarong, Vice President, International Business of Gulf Energy Development, opened the meeting, welcoming the Secretary-General, and expressing appreciation for this opportunity to learn about latest updates on investment incentives and BOI’s strategies to assist businesses during the recovery process and maintain Thailand’s status as a major Foreign Direct Investment (FDI) destination.
During the meeting, the Secretary-General provided an update on BOI’s investment promotion incentives, as well as revisions within certain industries to ensure that the incentives not only effectively enhance Thailand’s competitiveness as a regional investment destination but also promote the country’s overall development. In addition, the Secretary-General touched on BOI’s actions to improve the ease of doing business, covering the areas of simplifying BOI applications and applicability, and simplifying access to skilled labor through the Long-Term Resident (LTR) Visa scheme. During the Question & Answer session, AMCHAM members had an opportunity to receive clarifications on Research & Development (R & D) tax incentive applications and the coverage of LTR target groups and benefits. BOI Secretary-General welcomed the members’ inquiries and looked forward to continuing collaborations with the foreign investors in Thailand.
In his closing remarks, AMCHAM Legal Committee Co-Chair, Christopher Knight, Chief Executive Officer of Everett Knight delivered AMCHAM’s sincerest appreciation for the Secretary-General’s consideration to meet with their members and provide comprehensive and insightful information on the BOI’s recently introduced investment schemes, which are beneficial to both existing and potential investors to Thailand. Reiterated by the Legal Committee Co-Chair, AMCHAM and its members greatly appreciate BOI’s effective investment promotion strategies and stand ready to offer assistance and collaborations to the BOI in order to increase FDI in Thailand, which is a crucial element in promoting the country’s sustainable and inclusive growth.
The American Chamber of Commerce in Thailand (AMCHAM) is an independent, non-partisan, non-profit organization. With over 2,600 members representing over 600 American, Thai, and other international companies, AMCHAM is the leading international business association in Thailand. Member companies have cumulatively invested over U.S. $50 billion in Thailand and provide more than 200,000 local jobs.
If you would like to learn more about AMCHAM, please visit: www.amthamthailand.com or contact Varsha Wadhwani, AMCHAM Communications Officer, at e-mail [email protected]