A FORCE FOR SMART SMES TO GROW STRONG
Brief Summary of the BOI Seminar on July 5, 2019 by K. Thitiwat Thanapornnithinan, Member of our SME Working Group
Creating a Brand and innovations yield a high added value in companies and products. That is the main vision of the Thailand Board of Investment (BOI) for investment and funding support for SMEs. In the seminar, BOI revealed more on what are measurements, and how will they encourage innovation.
Following factors are viewed as positive for BOI Incentives which are:
High Technology business, Innovation business and Location of facilities in low income area or a special Economic zone. The benefit of getting support is not only monetary. There are also other benefits, such as allowing a company to be 100% owned by foreigners, Land can be owned by foreigners, export foreign currency etc.
The BOI is eager to encourage the creation of innovation. There are three ankles of support: Research, Marketing and Investment. It comes in several forms, such as Funding, Human Resource, Tax benefits, marketing channels, special interest rates etc.
Innovation therefore now is the key business strategy to become promoted by the BOI. For more information please visit boi website at www.boi.go.th
Image source: https://www.thaigov.go.th/news/contents/details/21479