The Finance Ministry is to propose to the cabinet next week a bill for the creation of a 10 billion baht fund to encourage investors to return to Thailand and to improve the country’s competitiveness.
Finance permanent secretary Somchai Satjapong said Monday that the fund would target ten industries that the government earlier announced support for them which include grants, low-interest loans and tax incentives.
He cited bio-plastic industry that Thailand is losing to Malaysia which has offered investors with better incentives for investment in Malaysia through similar fund.
As for the creation of Thailand’s Future Fund amounting to 100 billion baht, the Finance Ministry is to hold meetings with agencies concerned to discuss what industries are to be chosen to be eligible for benefits from the fund.