On 28 March 2024, the Board of Investment ("BOI") announced the clarification of incentives it will provide to promote foreign investment in the manufacture of printed circuit boards ("PCBs"), with the intention of covering the entire PCB supply chain. BOI's modified definition of PCB business clarifies that qualified types of businesses relating to PCB include manufacturers of parts and providers of related services such as lamination, drilling, plating, routing and electrical testing, among others.
The expanded definition of PCB business will also now include producers of PCB parts such as copper clad laminate (CCL), flexible copper clad laminate (FCCL), and PREPREG, as well as producers of raw materials such as dry film, transfer film, and backup board.
In the same press release, BOI also announced new incentives to attract the organisation of large international concerts, sporting events and festivals. Organisers of large international events with an investment, or expenses, of not less than THB100 million (US$2.8 million), will receive incentives in the form of an import duty exemption on equipment. BOI will also facilitate the temporary entry into the country of the required foreign staff. This will not cover the organisation of conferences and trade shows.
Prior to this, on 21 February 2024, Thailand’s National Electric Vehicle Policy Committee (EV Board), chaired by Prime Minister Srettha Thavisin, approved (i) incentives to encourage companies to transition their commercial fleets of large trucks and buses to battery electric vehicles (BEV), and (ii) cash grants for electronic vehicles ("EV") battery cells manufacturers. The intention of the two policies is to expand the country's support of the EV ecosystem and reinforce its status as an EV manufacturing hub.
