Prayut asks BoI to speed up outlay for border SEZs
Prime Minister Prayut Chan-o-cha has asked the Board of Investment (BoI) to play a core role in accelerating investments in the planned special economic zones (SEZs) in 2015 and 2016.
BoI secretary-general Hiranya Sujinai said it was told by Gen Prayut yesterday to consult the private sector about industries that could kick-start the SEZs.
The BoI was also instructed to study the possibility of increasing privileges to investors in SEZs. Mrs Hiranya said the BoI already granted the highest amount of privileges allowed by law, but will now look at other measures to support private investment.
She said priority projects that could be established in the short term included consumer products, goods distribution, warehouses and logistics services .
The BoI meeting yesterday chaired by Gen Prayut also agreed to ease capital requirements for small and medium-sized enterprises in SEZs from 1 million baht to 500,000 baht, as well as allowing them to import used machinery worth up to 10 million baht to support their production.
Mrs Hiranya said six companies had asked for information on establishing industrial estates in the first phase of the SEZs. However, they have yet to submit their investment applications.
In a related development, the BoI reported yesterday the board approved new applications for investment privileges to 17 projects worth a combined 43.9 billion baht, mainly for automotive parts, alternative energy and a water park-aquarium.
Significant projects include Energy Absolute’s solar power generation worth 8.5 billion baht in Phitsanulok, Otani Radial Co’s 6.55-billion-baht scheme to make automobile tyres in Nakhon Pathom and Somsak Dararattanarot’s investment in pulp manufacturing for newsprint worth 5.5 billion baht in Maha Sarakham.
The board also approved the applications of Hemaraj Eastern Seaboard Industrial Estate 4 to invest 2.92 billion baht to establish an industrial estate in Rayong province, as well as Roger Rensch Reynolds’ water park-aquarium worth 1.44 billion baht in Phuket.
For the first six months the BoI has approved 1,254 projects worth a combined 412 billion baht. It aims to approve 1,700 projects worth 1.4 trillion baht this year.