Thailand moves to attract investors in the Eastern Airport City
The Thai Government on August 9 approved the allocation of 165ha of land in the Eastern Airport City project to create a free-trade zone within the Eastern Economic Corridor (EEC), in a bid to attract investors and businessmen.
As reported by the Bangkok Post, speaking after a weekly cabinet meeting, Thai Prime Minister Prayut Chan-o-cha said the free-trade zone will not be restricted by large numbers of laws and regulations, with waivers on customs tariffs and other import measures on offer.
The area will also feature other activities and recreation facilities to support 24-hour services, including five-star hotels, shopping malls, duty-free shops, Michelin-starred restaurants, exhibition and convention halls, and entertainment services, the PM said.
|A map shows the area allocated for the Eastern Economic Corridor for aviation (EECa), highlighted in yellow. (Photo: Bangkok Post)|
Airport City is located in the over 1,000ha economic zone for aviation, one of the EEC’s seven zones approved by the cabinet in March this year.
According to deputy government spokeswoman Rachada Dhnadirek, the government has also offered tax perks to 24-hour entertainment providers and alcohol and cigarette distributors at Airport City, allowing them to be exempt from corporate income tax for a maximum of 15 years. The dividends available from their ventures will also be exempt from corporate income tax.