Thailand pushes for 5-year factory fee exemption to drive Deep South growth

12 Sept 16:29 Key points summarised by AI

Thailand's Ministry of Industry proposes a five-year extension of factory fee exemptions in its southern border provinces to stimulate economic growth and attract investment.
The policy targets Narathiwat, Pattani, Yala, and specific districts in Songkhla, aiming to reduce production costs, retain existing manufacturers, and incentivize new businesses.
The tax relief covers various operational expenses, including licensing and annual operating charges, benefiting an estimated 683 factories and supporting approximately 15,000 jobs.
Despite a projected 13.28 million baht in foregone revenue, the government emphasizes that the economic returns from sustained employment and industrial growth will significantly outweigh the cost.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.