The BOI Thailand is encouraging investment in light industry. It includes activities in manufacturing textile products, garments, bags, shoes, and clothing. It also extends to furniture, parts, gems and jewelry. As well as creative product design plus the manufacturing of medical devices or parts.
Thailand is one of the few countries in the world that can supply the complete textile industry chain, from upstream, through midstream, to downstream, from petrochemical and natural fiber production, to fabric and textiles, all the way to design, production, and sale of apparel, home textiles, and technical textiles.
Manufacturing of medical devices or components: Many leading medical device companies invest in Thailand because of the country’s high market growth potential, abundance of raw materials, (especially natural rubber of which Thailand is the world’s largest producer), skilled and affordable labor, excellent infrastructure, advanced production technology, and high quality-control standards. Additionally, the government offers attractive investment incentives for investment in the medical device sector.
Gems and Jewelry: With its centuries-old reputation for superb craftsmanship and its strong manufacturing base, Thailand has become one of the world’s top exporters of gems and jewelry. Gems and jewelry production plays a crucial role in the Kingdom’s economy through creation of jobs and development of related industries such as gem cutting, gem-cutting equipment, jewelry design, mining and packaging. There are about 700 factories registered with the Department of Industrial Works, 80% of which are small and medium enterprises.
The establishment of the Asian economic community (AEC) in 2015 has set up ASEAN as a single market that facilitates free flows of goods; free flow of services, investment, capital, and skilled labor within the region. Many world-class firms have relocated their operations to Thailand to reduce production costs and benefit from Thailand's strategic location as well as from BOI Thailand incentives.
The value-added of the project must not be less than 20% of revenues, except for projects in agriculture and agricultural products, electronic products and parts, and coil centers, all of which must have a value-added of at least 10% of revenues.
