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Cabinet OKs perks for tech investors

Industry experts and foreign investors in high technology will be entitled to four-year visa-free grants and free work permits under a new scheme.

According to Ampon Kittiampon, director of the Prime Ministers Operation Centre, the mini-cabinet chaired by Prime Minister Prayut Chan-o-cha yesterday approved four-year visa-free grants to foreign investors in high technology and experts in industries where there is a shortfall of personnel, such as medical specialists and aviation engineers who work in the Eastern Economic Corridor (EEC).

Nonetheless, they and their family members are required to report to the Immigration Bureau each year.

Mr Ampon said Gen Prayut also ordered agencies to study the possibility that those investors and experts might report to the Immigration Office via electronic system instead.

Mr Ampon said the government has been trying its best to encourage foreign investment and lure foreign experts in order to boost the investment climate in Thailand, especially in the governments ambitious 10 targeted industries: next-generation cars, smart electronics, affluent medical and wellness tourism, agriculture and biotechnology, food, robotics, aviation and logistics, biofuels and bio-chemicals and digital and medical industries.

Under the current structure, foreign investors and experts are offered only visa-free grants for two years.

They are also required to show up to the Immigration Bureau every three months.

The grants also exclude their spouses and children. Existing foreign investors will be also later allowed to enjoy four-year visa-free grants if they spend in more advanced technology, he said.

According to Mr Ampon, foreign investors in start-up businesses will be also allowed visa-free grants for two and four years depending on the technology.

In a related development, the premier also yesterday asked about the latest developments in measures to improve the ease of doing business.

The Office of the Public Sector Development Commission reported that the National Broadcasting and Telecommunication Commission has already approved 4 billion baht to state agencies to upgrade their software to link to the so-called Doing Business Portal.

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08:59 - 7/09/2017    /    Number : 685386    /    Show Count : 73

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