ANNOUNCED AS TEMPORARYNo
Effective 14 February 2017, the Thai government established the Fund for Enhancement of Competitiveness for Targeted Industries. The seed capital of the fund is THB 10 billion (USD 285 million).
The fund aims to increase Thailand's national competitiveness for (i) industries with new methods of domestic production or service providers, and (ii) existing industries requiring the use of new technology or advanced production knowledge with the purpose of developing or promoting innovation. The industries eligible for the Fund will be determined by the newly-established Committee on Policy for National Competitive Enhancement for Targeted Industries. In addition, the Committee will also establish the rules, procedures and conditions for the granting of rights and benefits under this Act.
An investment project proposal will need to be submitted by the firm within the eligible industry, for consideration under this Fund. The Policy Commission may also include terms relating to capital, size of business, commencement of the operation of a business, personal development, research and development, and technology transfer.
Besides grants from the Fund, eligible firms are entitled to a combination of the following benefits, as assessed by the Commission:
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