New Investment Promotion Policy for 2015

The Secretary General of the Board of Investment (BOI) reaffirmed the commitment to revise and implement a new investment promotion policy. The new policy is expected enter into effect on 1 January 2015. 

In January 2013, the BOI released a draft of the new investment promotion policy, which represented a complete overhaul of the current investment promotion scheme. In May, the BOI issued a press release that reaffirms its intention to implement the new promotion scheme, though the effective date has been moved to 2015 to allow time for businesses to adjust themselves. 

Under the new promotion scheme, the BOI has discarded the zoning concept (whereby investment incentives are granted on the basis of geographic zoning), and adopted a targeted industry and industrial cluster approach. Presently, the BOI proposed to promote 10 types of industries including, infrastructure, medicine, scientific equipment, renewable energy, business support services, high technology automotive and electronics, food processing, etc. 

Several types of industries that are currently promoted will be removed from the promotion scheme. These include hospitals, telecommunications, design centers, several textile and garment businesses, electric powered vehicles, 4 stroke motorcycles, ceramics, forestry, animal feed, etc.