Thailand BOI to introduce sustainable investment policy.
January 27, 2010
Thailand Board of Investment (BOI) aims to gear Thailand towards sustainable development after BOI board approved stronger policy focus on sustainable investment. Studies will be conducted in order to launch investment promotion measures which contribute to the country’s development in economic, social and environmental aspects as well as develop the industrial sector into a knowledge-based and value-added industry.
Dr. Atchaka Sibunruang, BOI Secretary General, revealed after the board meeting chaired by Prime Minister Abhisit Vejjajiva, that the meeting approved of the sustainable investment policy and assigned BOI to consult with related organizations in order to come up with new measures that will lead to sustainable investment.
“Having considered factors such as current global economic situation, Thailand’s economy and Thailand’s potential, the board agreed that we should take a more active approach towards investment for sustainable development. Creating balanced growth in different aspects of economy, society and environment is the key while leveling up the industrial sector to high-technology industry as well as paying more attention to value-added creativity will help reinforce the country’s growth in the long run,” said BOI Secretary General.
BOI will start working with related organizations to develop investment policies for sustainable development and will also review the measures expired end of last year which are in line with this direction such as Thailand Investment Year 2008-09 measures to improve efficiency of production processes and measures to solve environmental problems.
In addition, BOI will also study details of new investment promotion measures that lead to sustainable investment including measures to develop human resources to support knowledge-based industry, measures to build strength in science and technology, measures to promote environmental and community friendly investment such as Eco Town or Eco Industrial Estate and measures to build industry and services on cultural uniqueness and value-added creativity.
Dr. Atchaka also mentioned that the Board considered the measure to develop Thailand into “White Country” or country that is recognized by international community on its transparent controlling process for importing and exporting goods. This will enhance Thailand’s potential as a manufacturing base of high-tech machinery and equipment which is one of the targeted areas of BOI investment promotion. The board agreed to set up a committee chaired by Dr.Narongchai Akrasanee to consider relevant measures.