Thailand has said India can be a "great partner" for the future in the country's new strategy to drive growth through innovation with focus on hi-tech sectors.

"I see India as a great partner for the future. We really want to work with the Indian government," Thai Deputy Prime Minister Somkid Jatusripitak said answering a question on the role India could play in the Thailand 4.0 initiative.

Under the initiative Thailand hopes to move from a manufacturing focussed economy to a knowledge-driven one and is implementing a plan to attract foreign investment in identified sectors.

"We would like to work with India in certain areas such as hi-tech," Jatusripitak said.

Thailand recently revised its Investment Promotion Act and the Competitiveness Enhancement Act to allow the Board of Investment (BOI) to provide new incentives to investors.

The country plans to soon increase the tax holiday period for both domestic and foreign investors in hi-tech sectors such as bio-technology from up to eight years to up to up to 13 years, according to Ajarin Pattanapachai, Deputy Secretary-General, BOI.

Thai Prime Minister Prayut Chan-o-cha, in his keynote address at the Opportunity Thailand seminar, said his country would also have easier regulations for professionals from other countries to come and impart their skills to the local population.

The 10 focus industries under the Thailand 4.0 initiative are aerospace, automation and robotics, bio-fuels and biochemicals, medical hubs and digital.

(The travel for this assignment was sponsored by the Thailand Board of Investment)

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