One key measure to support Thai entrepreneurs is an increase in the corporate income tax (CIT) benefits granted to BOI-promoted SMEs, which will now receive a five-year CIT exemption equal to as much as 100% of their investment in enhancing their capabilities and improvements, up from the previous three-year CIT exemption capped at 50% of investment.
Street food restaurants on Banthat Thong Road in Bangkok. (Photo: bangkokpost.com)
Bangkok (VNA) – Thailand’s Board of Investment (BOI) has approved new measures to better support small and medium-sized enterprises (SMEs), which are facing tough competition a🔯nd the impact of US President Donald Trump's stiff tariffs.
One key measure to support Thai entrepreneurs is an increase in the corporate income tax (CIT) benefits granted to BOI-promoted SMEs, which will now receive a five-year CIT exemption equal to as much as 100% of their investment in enhancing their capabilities and improvements, up from the previous three-year CIT exemption capped at 50% of investment.
The BOI approved measures to promote investment in tourism infrastructure businesses in the 55 so-called second-tier provinces.
The measures are in line with the government's policy to upgrade tourism infrastructure and develop new attractions to promote the distribution of visitors to less visited areas and to spread nationwide the economic benefits of tourism.
Investment accounts in hotel businesses in these provinces will be exempted from corporate income tax for five years, instead of three years as before.
A meeting of the BOI chaired by Finance Minister Pichai Chunhavajira also decided to suspend investment promotion for some sectors that are at risk of "oversupply" or have negative impacts on the environment. The affected sectors include solar cell and battery cell manufacturing products, some auto parts, steel pipes, hot-rolled steel and long steel.
Facing the tariff of 36% imposed by the US, Thailand will have to monitor new investment proposals more closely to ensure that essential production processes are actually taking place in the country. In addition, potential investors also face stricter standards and packaging on the ratio of foreign personnel to domestic ones and minimum wages for foreigners./.
The Thai economy grew by 3.1% in Quarter 1, slightly down from 3.3% in Quarter 4 last year. Against the backdrop, the National Economic and Social Development Council reduced its annual growth projection to between 1.3-2.3%, down from the previous forecast of 2.3-3.3%.
The Tourism Authority of Thailand (TAT) has unveiled 12 travel campaigns, aiming to promote travel across 55 selected provinces, with a target of generating no less than 500 million THB (15 million USD) in tourism revenue.
Deputy Prime Minister and Minister of Finance Pichai Chunhavajira detailed the strategy, which includes restructuring the agricultural processing sector to address domestic supply shortages and identify areas where US imports can complement Thailand's production chains.
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Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
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This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Talking to the Vietnam News Agency on the occasion of the 100th anniversary of the Vietnam’s Revolutionary Press Day (June 21, 1925–2025), Nikulina, who is also a veteran journalist of Russia’s Sputnik News, emphasised the vital role of mainstream journalism in defending the truth and maintaining public trust.
