According to an article in the Nation, the Board of Investment has approved new incentives to promote projects in Ayutthaya and Pathum Thani provinces, which were particularly hard hit by the 2011 flooding in central Thailand. Following the flooding, there has been a marked deterioration in the investment climate in these provinces, especially when compared to Thailand's other centers of manufacturing, such as Rayong and Chon Buri, which are experiencing increased investor interest.
Under the new incentives, the corporate tax exemption for qualifying projects will be increased to eight years, and the tax exemption limit will be increased to 150% of the total investment value of the project. New investments will also be offered tax exemptions for machinery imports.
Investors must submit applications for these new incentives by 31 December 2012.