Industry & Economy
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Foreign Trade
Thailand highlights scope for Indian cos
Our Bureau
New Delhi
,
July 15
INDIAN businesses in the area of software, biotechnology and pharmaceuticals qualify for the recently announced `skilled technology and innovation' project promotion programme by the Board of Investment (BoI), Thailand.
Speaking at an interactive session organised by the Federation of Indian Chambers of Commerce and Industry (FICCI), Mr Suchart Phisitvanich, Acting Senior Executive, BoI, Thailand, said: "These industries would be entitled to the best incentives and privileges for investments under the programme."
He also highlighted the five target industries - agri, automotive parts and components, electronics and ICT, high value services (logistics and software) and fashion products including garments, jewellery, and leather products - , which offer significant potential for foreign investors in Thailand.
Mr Phisitvanich also mentioned that Thailand is one of the trading partners of India in Asia. The trade between the two countries will reach $2 billion by the end of this year. He further said BoI would be participating in the Indian trade exhibition co-organised by the Thai-Indian Chamber of Commerce in Bangkok in August. Outlining the extra support that BoI would be extending to investors, he said it would guarantee against nationalisation and price control, permission to own land and bring in foreign expert, corporate income-tax holidays up to eight years, duty exemption for machinery import and raw material manufacturing for exports.
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