This is part 1 of 3 posts on Thailand BOI Cluster Policy.
Thailand BOI cluster policy is intended as a response to the Thai government’s Cluster-based Special Economic Development Zones policy, or the Cluster Policy, which came into effect on September 16, 2015. A cluster is concentration of interconnected businesses and related institutions that operate within the same geographic areas. The aim of promoting business clusters is to boost the level of support and cooperation in all facets of the business, both vertical and horizontal, in order to strengthen the industrial value chain, enhancing investment potentials and competitiveness and expand socioeconomic development to regional and local levels, which are important job of Thailand BOI.
The government of Thailand has perceived the significance of cluster in the development of the nation’s economy. The cluster development policy aims at increasing industrial competitiveness in areas with high potentials for targeted manufacture bases using advanced technology. Clusters are crucial in linking manufacturers, suppliers, supporting industries, research and academic institutions, and public and private organizations within the cluster areas. Strategic development is supported by government agencies in wide-ranging aspects, including human resources and technological developments, infrastructure development and logistics system, tax incentives and non-tax incentives, financial support, and amendments of rules and regulations to facilitate investment. These measures not only support the cluster development and its competency in the international arena, but also give strategic advantage to investment projects in the cluster areas.
Read Thailand BOI Cluster Policy – part 2 of 3 here.
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