the Board of Investment screened investment applications using a geographic
zone system. Projects
located in zone three, covering the poorest provinces of the country,
enjoyed maximum privileges, including corporate tax and import tariff
BoI and the National Economic and Social Development Board plan to
finalise details of the new policy and the industries targeted at a
later date. “Both agencies should focus their discussion on the ways
to promote machinery and raw material production, to substitute for
costly imports,” said Mr Thaksin.He said the new policy would not
violate trade commitments under the World Trade Organisation, and was
aimed at matching the country’s present and future development needs.
According to the Finance Ministry, total imports were worth 2.5 trillion baht in 2000, of which 1.8 trillion baht were exempt from duties due to BoI promotions and tariff measures by the Customs Department, bonded warehouse, export processing zone and other programmes. Imports receiving BoI tariff discounts were worth 830 billion baht last year, or 33% of totalimport value, and covered a wide range of industries.
Bangkok Post, April 10, 2001
© 2000 Trade