The Board of Investment of Thailand (BOI) has announced measures to support and relieve the financial burdens on businesses in Songkhla province, which has been struck, over the past week, by the most devastating floods in decades.
BOI Secretary General Narit Therdsteerasukdi told the media that the ad-hoc measures include a tax break on imported machines, to replace those damaged by the flood, and the green light to increase the production capacities of the imported machines.
Narit said that the flood-ravaged firms are also being assisted by allowing them to exclude their damaged machines from the list of those required for assessment of their business-related levies.
He noted, however, that the affected firms are required to apply for the special support within six months of the date when the province’s status as a government-declared disaster zone is lifted.
In addition, the BOI has granted promotional investment privileges to 191 firms in this southern business hub, valued over 53 billion baht, specifically to those in the food processing, rubber processing, packaging of farm produce, aquatic feed and biomass power project sectors.
All the supportive initiatives are expected to accelerate the revival of the local economy, in the aftermath of the catastrophic disaster, according to the BOI’s secretary general.
