House, BOI pushes Thailand to be a center for tourism - electronics Promote international music, sports and festivals. Stimulating Thailand's potential as a world-class event destination Mr. Narit Theodsatheerasak Secretary-General of the Board of Investment (BOI) revealed that the meeting of the Board of Investment (BOI Board) has resolved to approve the opening of promotion in 'The business of organizing music, sports, and international festivals' to raise the level of the countryTo become a destination for hosting world class events (World Class Events) and a center for tourism in the region (Tourism Hub) By unlocking barriers to organizing large-scale events, such as visas and work permits for foreign artists and teams. Regarding the tax burden of performance equipment that may be imported for temporary use and then sent back out, etc., to facilitate world-class organizers. To be able to organize exhibitions in Thailand more easily Whether it's a concert festival or various international festivals, whic h will help attract tourism and increase spending from foreign tourists and create economic growth of the country according to the government's goals. For criteria for applying for promotion in organizing music, sports, and international festivals. It must be a large-scale event with investment or organizing expenses of not less than 100 million baht per event. They will receive benefits exempt from import duties on machinery and equipment used in organizing the event. as well as facilitating visas and work permits for foreign artists and personnel who come to organize events. Through the Visa and Work Permit Service Center (One Stop Service) operated by the BOI in collaboration with the Immigration Bureau and the Ministry of Labor. 'From the government announcement of the vision of Ignite Thailand, one of the important goals is to elevate Thailand to be a world-class event destination. To be a magnet for attracting tourists from around the world. Opening to promote the business of organizing music, sports and international festivals this time. It will help reinforce Thailand's potential and readiness to be a leader in tourism and entertainment center of the region. Draw money from the spending of both domestic colleagues and foreign tourists with high spending power. It also helps support other service businesses in Thailand, especially hotels, restaurants, and local products. and services related to tourism to benefit together,' Mr. Narit said. In addition, the meeting also agreed to improve. 'Business in the electronic circuit board (Printed Circuit Board: PCB) group' which is the heart of electronic equipment used in various industries, whether it be smart electronics, electric vehicles, medical equipment. Automated and digital machines to support The trend of large-scale relocation of production bases due to the pressure of global geopolitical problems. Especially in industries that use advanced technology like electronics. By adding to the list of activities supported in the electronic circuit board (P CB) group to cover important supporting activities in the PCB supply chain, including PCB production support activities, including Lamination, Drilling, Plating, and Routing. and businesses producing important raw materials for PCB production, including Copper Clad Laminate (CCL), Flexible CCL (FCCL), and businesses producing raw materials and other necessary materials for PCB production, such as Dry Film, Transfer Film, Backup Board, etc., which will receive rights. Benefits of exemption from import duty on machinery Exemption from import duties on raw materials used for export. and exempt from corporate income tax for up to 8 years, classified according to the importance of raw materials, technology, and investment size. An electronic circuit board (PCB) is a circuit board that collects electronic components and equipment. Semiconductors (Chip) together to connect parts and control various systems. In all kinds of electronic products and electrical appliances, it is one of the most important production st eps. in the electronics industry In the past, there have been projects requesting investment promotion in the PCB industry for about 40 companies, especially from China, Taiwan and Japan, with a total investment value of over 100 billion baht in 2023. 'This improvement of the business in the electronic circuit board or PCB group is aimed at supporting the world's major investment transfer trend in the electronics industry. By further promoting the PCB industry to cover the entire supply chain. both Thai and foreign entrepreneurs To lead to the creation of a PCB cluster as a new industrial cluster in Thailand. This will help strengthen the electronics production base and help increase business opportunities for Thai entrepreneurs who will be able to grow together,' Mr. Narit said. Currently, Thailand has become the number 1 PCB production base in ASEAN if Thailand can seize the opportunity to create a complete supply chain for PCB production, which is the heart of the electronics industry. It has a high pos sibility of becoming a leading electronics production base in the world market in the future. Source: Thai News Agency