In a bid to develop a comprehensive ecosystem to back Thailand’s digital industry, the country has been growing fast in recent years. All thanks to Digital Park Thailand (EECD) and Smart City. Besides, development of the high-end infrastructural facilities to support the initiates has brought ample opportunities for the investors and business leaders.
To attract domestic and foreign investments in the country, the Board of Investment has continued to come up with new investment schemes while improving the existing ones.
As a part of the effort, the investments in high-value-added digital industries, including software development, digital platform services, innovation incubation centers, and cloud services, meeting the criteria will grant a corporate income tax (CIT) exemption up to 8 years.
Those who have been thinking of investing in the digital industry for them this could be a motivation that Thailand received 194 investment project applications in 2018 in the digital industry with a worth of 13,162 million baht, especially in the fields of digital content, embedded software, and enterprise software.
Additionally, projects in the digital industry situated in EECD, connected with the educational institutions in order to develop human resources may be eligible for up to 13 years CIT exemption. Also, targeted activities in the economic zones with maximum investment incentives include digital services, cloud services, digital parks, software development, innovation incubation centers, and R&D.
Similarly, the Board of Investment has launched investment incentive scheme for a Smart City initiative that is designed to upgrade people’s quality of living with 7 different intelligent platforms such as, Smart Living, Smart Governance, Smart Mobility, Smart Environment, and Smart Energy.
A new measure has been taken to offer investment privileges to the innovation ecosystem facilities, which includes maker spaces or fabrication laboratories, co-working spaces, and innovation incubation centers. The True Digital Park is the first park to have received investment privileges from the Board of Investment. Situated on the Sukhumvit Road, Bangkok’s one of the most dynamic business districts is all set to become a global startup destination for both technology and innovation development in the country.
