Thailand offers incentives for component manufacturing JVs
By Will Pulson - 28th September 2024
Thai govt offers incentive for component manufactuirng JVs
Thailand - The Thai government, this month (August), announced it is making available new financial incentives to foreign companies looking to invest in existing and new joint venture facilities to produce components for all types of vehicles, including internal combustion engine (ICE) vehicles.
The Thai government’s Board of Investment (BOI) confirmed the new investment incentives as to include tax exemptions of between two and eight years, financial support and streamlined regulations (with other nations), as it looks to improve the sector’s competitiveness and encourage new investment and innovation. The country’s components sector has been struggling with plunging vehicle production volumes for more than a year.
