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THAILAND
AUTOMOTIVE
INDUSTRY
THAILAND:
GLOBAL GREEN
AUTOMOTIVE
PRODUCTION
BASE
Thailand’s automotive industry has been continually
developing for over 50 years with strong support
from both the public and private sectors. Thailand
has been the automotive hub of ASEAN, with the
largest automotive production among Southeast
Asian countries, ranking ninth globally in 2012.
The automotive industry is a vital sector in Thailand,
with a significant contribution to the country’s
economy, accounting for 10% of Thailand’s gross
domestic product (GDP). In 2012, Thai automotive
production capacity was 2.75 million vehicles and
the industry employed over 500,000 people; the
production capacity is expected to reach 3 million
units by 2015. The government coordinated with
the private sector to formulate the Master Plan
for Automotive Industry (2012-2016) to develop
Thailand as a global green automotive production
base and to increase research and development for
automotive technology.
Thailand has approximately 709 Tier 1 auto parts
suppliers and 1,700 Tier 2 and 3 suppliers. More than
half of the Tier 1 suppliers are car part companies.
Of the top 100 auto parts manufacturers in the
world, 50% have factories in Thailand; the country’s
manufacturing base is strong enough to supply all
of the necessary parts, from engine parts to interior
and body parts.
Majormultinationalautomotiveindustryleaderswith
presence in Thailand include: Toyota Motors, Isuzu
Motors, Honda Automobile, Nissan Motors, Suzuki
Motor, Mitsubishi Motors, Auto Alliance Thailand
(Ford and Mazda), Hino Motor, General Motors, BMW
Manufacturing, Volvo Car Thailand, Mercedes-Benz
Thailand and Tata Motors.
Structure of Thai Automotive Industry
Source: Thai Autoparts Manufacturers Association and BOI as of Aug 2012
“ASEAN countries are trying to promote green and
environmental friendly technology. Thai government
announced its vision to become Hub of Global Green
Automotive Production. Thailand has high potential
to become the Hub of Global Green Automotive
Production towards global trend.”
- Mrs. Piengjai Keawsuwan, President of ASEAN Automotive Federation and
President of the Thai Automotive Industry Association -
Structure of Thai Automotive Industry
Assembler
(14 car makers,
7 motocycle makers)
100,000 workers
LSEs
Large Scale
Enterprises
Foreign
J/V
Local Suppliers
Foreign
Majority
54%
Thai
Majority
23%
Pure
Thai
23%
SMEs
Small & Medium
Enterprises
Tier 1
(709 companies)
Tier 2, 3
(1,700 companies)
450,000workers
BIG INDUSTRY
DRIVERS
The year 2012 was a historic year for the Thai
automotive industry, with the highest production
ever: over two million cars. Many leading automotive
firms plan to increase investment in capacity in 2013.
Toyota plans to invest US$400 million to build its
second assembly plant at the Gateway Industrial
Estate in Chachoengsao. Production at the new
plant will be launched mid-2013, which will raise
production at the Gateway complex from 220,000
to 300,000 units per year. Toyota has a long plan to
invest US$667 million to raise capacity to 1.2 million
units per-year within the next five years.
Honda plans to build a new plant in Prachinburi, with
an investment of US$1,100 million.The new plant will
be opened in 2015 and will add production capacity
another 240,000 units per-year.
Nissan plans to invest US$500 million to erect the
second assembly plant on Bangna-Trat Road. The
new plant will begin production in 2014 with an
initial capacity of 75,000 units per-year, and will
expand up to 150,000 units.
Mazda has decided to invest almost US$375 million
to open a transmission plant in Chonburi, near
the Auto Alliance Thailand (AAT) plant in Rayong.
Operations at the new plant will commence in March
2016, and will supply automatic transmissions for
SkyActiv models.
Several Chinese auto-makers also plan to invest in
Thailand. China’s SAIC Motor Corp will enter into
a US$289 million joint venture with Thailand’s
Charoen Pokphand Group (CP) to establish a 50,000
unit assembly plant of British MG cars in Thailand.
Moreover, Chinese sport utility vehicle (SUV) and
pick-up truck maker Great Wall Motor (GWM) has
announced plans to invest up to US$340 million in
Thailand.
AUTOMOTIVE INDUSTRY
OVERVIEW
The Thailand automotive industry has grown steeply and in 2012 production hit a
new record of 2.45 million units, 68% higher than 2011. Thanks to the government’s
First Car Buyer scheme, which allowed people buying a first car to receive up to
THB100,000 (US$3,333) tax refund, vehicle sales and production were boosted.
Moreover, according to the Thailand Ministry of Commerce, Thailand’s automotive
industry was the largest export sector, with an export value US$24 billion in 2012. In
the same period, auto parts imports totaled nearly US$13 billion.
Thailand is in a superb location for automotive production, due to its strategic
location at the center of Southeast Asia, a large pool of skilled labor at an affordable
cost, excellent infrastructure, as well as strong government support.
0
2
4
6
8
10
12
14
16
18
20
China
USA
Japan
Germany
SouthKorea
India
Brazil
Mexico
Thailand
Canada
Russia
Spain
France
UK
CzechRep.
Turkey
Indonesia
Global Automotive Production, 2012
UnitsProduced(millions)
Global Automotive Production, 2012
Source: International Organization of Motor Vehicle
Thailand’s Motor Vehicle Production by Unit, 2007-2012
2007 2008 2009 2010 2011 2012
Change
2011-
2012
Passenger Car 315,444 401,474 313,442 554,387 537,987 957,623 78%
Commercial
Car (exclude
one-ton
pickup)
23,522 17,780 15,202 24,158 20,608 43,842 62%
One ton
pickup
948,380 974,775 670,734 1,066,759 899,200 1,452,252 113%
Total 1,287,346 1,394,029 999,378 1,645,304 1,457,795 2,453,717 68%
Y-O-Y Growth
(%)
8% -28% 65% -11% 68%
Source: Thai Automotive Institute
With 2.45 million vehicles manufactured in Thailand in 2012, the country was ranked
#9 among automotive manufacturing countries in the world. According to the Thai
Automotive Institute, production is predicted to reach 2.5-2.6 million units in 2013,
and will reach 3 million units by 2015.
“Thailand is a global green automotive production
base, which in year 2012, was ranked 9th highest
in terms of automotive production in the world.
Automotive manufacturers from around the world
have increased their investments in Thailand because
they realize that we have existing strong supply
chains, acceptable skilled human resources, as well
as significant investment support from BOI.”
- Dr. Patima Jeerapaet, President of Thailand Automotive Institute -
Top 10 Thailand’s Vehicle Export Destinations in 2012
Country Value (million US$) %
Australia 3,840 16.3%
Indonesia 3,090 13.1%
Japan 1,708 7.2%
Malaysia 1,627 6.9%
Saudi Arabia 1,288 5.5%
Philippines 1,025 4.3%
Arab Emirates 688 2.9%
South Africa 637 2.7%
Oman 537 2.3%
Brazil 482 2.0%
Total 14,922 63%
Source: The Ministry of Commerce
Thailand’s Automotive Industry Growth, 2007-2012
Source: Thai Automotive Institute
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
2007 2008 2009 2010 2011 2012
Thailand’s Automotive Industry Growth, 2007-2012
Units
Production Domestic Sale Export
The top ten destinations ofThai automotive exports accounted for 63% of allThailand’s
automotive exports worldwide. Australia and Indonesia are the major destinations of
Thai-manufactured automotive products.
THAILAND’S
AUTO PARTS
INDUSTRY
While Thailand has emerged as a regional
automotive production hub, the automotive parts
and components sector has also played a significant
role in the strong growth of the automotive industry.
There are approximately 2,400 automotive suppliers
in the country, about 709 of which are original
equipment manufacturers (OEMs). Major foreign
parts and components manufacturers inThailand are
such as France’s Valeo, Germany’s Bosch, US-based
TRW, Britain’s GKN and Japan’s Denso, Mitsuba and
Mitsubishi Electric.
According to the Japan Automobile Manufacturers
Association, Thailand-made automotive parts have
the highest quality among the ASEAN countries.
Local manufacturers supply about 85% of the parts
used in pickup truck assembly, and about 70% of
those for passenger cars assembled in Thailand.
Moreover, the country produces nearly 100% of the
parts used in the assembly of motorcycles.
In 2012, the majority of Thailand’s automotive parts
exports were OEM parts (US$5.6 billion), comprising
77% of total automotive parts exports. This is
followed by engines (US$900 million), at 13%; and
spare parts (US$667 million), at 9%.
50 of the Top 100 Global OEM Parts Suppliers in Thailand, 2011
Robert Bosch Denso Continental Magna
International
Aisin Seiki
Faurecia Johnson Controls ZF Friedrichshafen Delphi
Automotive
Valeo
TRW Automotive Lear Yazaki BASF Sumitomo Electric
Toyota Boshoku CalsonicKansei Cummis Autoliv JTEKT
Visteon JATCO Dana Benteler Schaeffler
BorgWarner NTN Mahle DuPont Tenneco
Toyoda Gosei NSK Brose NHK Spring Mitsubishi Electric
Koito
Manufacturing
Plastic Omnium Takata GKN Driveline Federal-Mogul
IAC Goodyear Michelin Tokai Rika Bridgestone/
Firestone
TS Tech Grupo Antolin Honeywell TI Automotive Bayer
Source: Automotive News - June 11, 2012
Thailand’s Auto Parts Exports, 2012
Source: Thai Automotive Institute
1%9%
13%
77%
Thailand’s Auto Parts Export, 2012
OEM parts Engines Spare parts Others
AUTOMOTIVE
ELECTRONICS
The utilization of electronics has become more
prevalent across a variety of automobile systems.
Electronics systems have improved automobile
performance, safety, comfort, and efficiency.
Moreover, the trend of alternative fuel, fuel efficiency
and emissions standards are important factors
driving demand of automotive electronics. The
global demand for automotive electronics systems
is expected to reach US$191.3 billion in 2013 and is
forecast to reach US$314.4 billion in 2020.
Innovation and development in automotive
electronics have expanded to support the high
demand for smarter vehicles. Automotive electronic
components can be utilized in many systems
including power or engine controlling systems,
safety systems, driver assistance, passenger comfort,
information systems, and in-car entertainment.
As the major automotive production hub of ASEAN,
Thailand is one of the largest automotive electronics
marketsintheworld.Industryanalystshaveindicated
that there is still significant opportunity to invest in
automotive electronics in Thailand. There are leading
automotive electronics manufacturers in Thailand,
such as Toyota Tsusho, who produces embedded
software for automotive applications, and other well-
known local manufacturers, including Omron and
Mizuki.
OPPORTUNITIES
Thailand is a vehicle production base in ASEAN, with
the largest amount of vehicle assembly in the region.
Although many leading vehicle manufacturers
and auto parts and components producers have
production facilities in the country, some auto parts
are still imported from overseas. Opportunities exist
for foreign suppliers to manufacture electronic fuel-
injection systems, substrates for catalytic converters,
continuously variable transmissions, electronic
stability controls and regenerative braking systems,
among numerous other products in Thailand. More
R&D, design and testing centers are also needed,
despite major players such as Yamaha, Bridgestone,
Maxxis, and Michelin operating such facilities in
Thailand already.
Hi-Tech Vehicle Parts and Components
Projects in high-tech vehicle parts and components
manufacturing are considered priority activities by
theThailand Board of Investment (BOI), which means
they are exempt from machinery import duties and
from corporate income tax for 8 years, regardless
of location within the country. Some examples of
eligible activities include electronic fuel-injection
systems, ABS brake systems, substrates for catalytic
converters, automatic transmissions, continuously
variable transmissions (CVT), traction motors for
automobiles (e.g. hybrid car, fuel cell), electronic
stability control (ESC), and regenerative braking
systems.
NGV Car
The Thai Ministry of Energy supports fuel-efficient
transportation through a natural gas vehicle
(NGV) initiative. This initiative includes natural gas
subsidization through PTT Public Company Ltd.,
reduced import duty on NGV tanks from 17% to 10%
in 2012, and reduced import duty on NGV control
system parts and components, from 35% to 10%.
Eco-Cars
Eco-cars continue to receive incentives to promote
the growth of the eco-car market locally and
abroad. For instance, the incentives will be applied
exclusively to materials that cannot be produced
locally. Incentives include duty reduction of up
to 90% granted for two years, with annual review.
The new measure is intended to help eco-car
manufacturers by lowering their production costs
and reducing their burden in sourcing parts that are
not available or locally produced in Thailand. This
measure also encourages more investment in eco-
car parts production, which provides the country
with economies of scale and greater competitive
advantage in the global eco-car production business.
The BOI approved eco-car projects from Nissan,
Honda, Suzuki, Mitsubishi and Toyota. Specific
models such as the Nissan March, Honda Brio, Suzuki
Swift, and Mitsubishi Mirage are currently being
manufactured in Thailand. Additionally, Thailand’s
Ministry of Finance has reduced the excise taxes on
eco-cars from 30% to 17%.
Passenger Cars
Although Thailand has a strong focus on pickup
trucks, passenger cars receive similar favorable
treatment in manufacturing promotion. The
requirement for the promotion of passenger car
manufacturing includes a minimum capacity for the
approved models of 100,000 units per-year within 5
years and a minimum investment, exclusive of land
cost and working capital, of no less than US$500
million (THB15 billion). Projects that meet these
criteria are eligible for a five-year corporate income
tax holiday and exemption from import duties on
machinery regardless, of location within the country.
E-85 Fuel
Thailand’s Ministry of Finance has reduced the excise
taxes on cars using E85 fuel to 22%, 27% and 32%,
depending on engine size.
Big-Bike, 4-Stroke Engine Motorcycles
(from 248 CC)
Regardless of plant locations, big-bike motorcycle
manufacturing activities will be eligible for
exemption from import duty on machinery. For
projects that include engine manufacturing starting
from machining key parts, such as cylinder heads,
crankcases, crankshaft, camshaft, cylinder block and
connecting rod, the corporate income tax holiday
will be offered for 3-8 years, depending on the plant
location.
Vehicle Tires
Firms manufacturing vehicle tires are exempt from
machinery import duties and corporate income tax
for 8 years, regardless of zone.
 
According to the Excise Department, Ministry of
Finance, the current automotive excise taxes scheme
is detailed as follows:
Automotive Excise Taxes
Passenger Car
<2,000cc, <220HP
30%
2,000-2,500cc,
<220HP
35%
2,500-3,000cc,
<220HP
40%
>3,000cc, >220HP
50%
E20
<2,000cc, <220HP
25%
2,000-2,500cc,
<220HP
30%
2,500-3,000cc,
<220HP
35%
>3,000cc, >220HP
50%
Electronic /
Fuel Cell
10%
Eco-Car,
Gasoline
≤1,300cc for Gasoline Engines or ≤1,400cc for Diesel Engines 17%
Natural Gas 20%
Hybrid
Vehicle
<3,000cc
10%
>3,000cc
50%
Single Car
Pickup
<3,250cc
3%
>3,250cc
50%
Passenger
Pickup
<3,250cc
20%
>3,250cc
50%
Double Cap
Pickup
<3,250cc
12%
>3,250cc
50%
Source: Excise Department, Ministry of Finance
“Thailand has been ‘in the auto businesses’ for more
than 50 years. Over time, a dense and capable supplier
community has developed. The Laem Chabang deep-
sea port allows for efficient export, and many well
managed industrial estates have grown in automotive
clusters that facilitate near- sourcing.”
- Mr. Martin Apfel, President of Southeast Asia Operation, General Motors -
Automotive Excise Taxes 2016
Vehicle Engine Size Carbon dioxide (CO2) generate (g/km)
<100 100-150 150-200 >200
Passenger Car
<3,000 cc 30% 35% 40%
E85/CNG (OEM) 25% 30% 35%
>3,000 cc 50%
Hybrid
Vehicle
<3,000 cc 10% 20% 25% 30%
>3,000 cc 50%
Eco Car
1,300-1,400 cc 14%
17%
E85 12%
Vehicle Model/Engine size <200 >200
Pick-up Single Cab 3% 5%
Space Cab 5% 7%
Double Cab 12% 15%
Pick-up
Passenger
<3,250 cc 25% 30%
>3,250 cc 50%
Source: Excise Department, Ministry of Finance
In order to promote green technology, the Thailand government has restructured
automotive excise taxes to better-align with vehicle emissions that will be effective on
1 January 2016, as follows:
WHY THAILAND
According to the Automotive Industry Master Plan
(2012-2016), Thailand’s automotive industry will
become a global green automotive production
base. This development will expand the automotive
industry of Thailand from the production hub of
ASEAN to the global market.
Nearlyalloftheworld’smajorautomakers,assemblers,
and parts and components manufacturers have
established manufacturing facilities in Thailand. All
of leading Japanese vehicle producers have opened
production sites in the country, as have major
American automotive firms such as Ford Motors
and General Motors, as well as German companies
Daimler - makers of Mercedes Benz - and Bayerische
Motoren Werke, better-known as BMW.
Promising Investment Destination
Thailand is an excellent location as a world-class
automotive production base. Almost all of the world’s
major automotive manufacturers have factories
based in the country. Situated in a strategic location
in the center of Southeast Asia, Thailand provides
easy access to regional markets. Growth in domestic
demand has bolstered the robust export market
for the Thai automotive industry. These factors
contribute to the evident opportunities for foreign
investors to enter the market.
Additionally, there are tax and non-tax incentives that
the Thai Government offers to the manufacturers of
vehicles, vehicle parts, and for automotive R&D and
testing. Non-tax incentives include land ownership
rights for foreign investors, permission to bring in
foreign experts and technicians, and work permit
and visa facilitation for foreign expat employees.
The Thai Government also does not impose export
requirements, local content requirements, location
requirements, or foreign equity restrictions on
manufacturers.
Abundant skilled-labor supply
Thailand provides a highly efficient and affordable
workforce. In 2012, more than 500,000 workers were
employed in the automotive sector in the country.
Thai laborers have comparative advantages in high
skill levels and quality over most other countries in
the region.
Auto Parts Clusters
The automotive industry has been a priority sector
for the economy of Thailand. Thailand has shown
impressive growth in this sector. With government
support, auto parts clusters were developed to
tighten business connections between automotive
firmsandtheirsuppliersinenhancedcommunication,
lower logistics costs and improved flow of products.
Excellent Infrastructure
Thailand is a transportation hub in the region;
the country provides world-class infrastructure to
support convenient logistics. With extensive road
networks through the east-west and north-south
corridors facilitating access to all nearby countries,
Bangkok’s Suvarnabhumi International Airport, Laem
Chabang — a leading deep-sea port — and rail links
to all regions across the country, Thailand offers
manufacturers cheap, easy, and efficient logistics.
Thailand’s Trade Liberalization
Thailand has bilateral free trade agreements with
many countries, including Japan, India, Australia,
New Zealand, and members of ASEAN, extending
trade opportunities into the global marketplace.
Furthermore, the ASEAN Free Trade Agreement
(AFTA) will expand the market of Thailand to the
10 member countries of ASEAN that collectively
comprise a market of 600 million consumers. Tariffs
for auto parts exported to ASEAN nations were
eliminated entirely in 2010.
The establishment of the ASEAN Economic
Community (AEC) in 2015 will serve as a massive
single market that is fully integrated into the
global economy. The AEC will open new doors to
manufacturers by transforming ASEAN into a region
with free movement of goods, capital, services,
investment and workforce.
Excellent Government Support
The Thai government has a mission to promote the
country as a global green automotive production
base.The Master Plan for Automotive Industry (2012-
2016) was developed with a view of establishing the
Kingdom as one of the world’s key manufacturing
centers by increasing vehicle output by an average
of 10% annually; and also aims at making the
country one of the top ten auto-manufacturing
countries, a goal that has already been achieved with
Thailand’s rank of ninth, globally, in 2012. To support
automotive investment, BOI has a philosophy to
promote liberalization and transparency, providing
equaltreatmenttoallmarketplayers.Thecountryhas
created the most attractive business environment
for the auto industry and has prepared essential
resources for every type of automotive business,
including developed basic infrastructure, quality
labor force, as well as strong upstream industries and
supporting industries.
ATTRACTIVE
INVESTMENT
INCENTIVES
The BOI offers a range of fiscal and non-
tax incentives for investments based on
location. Tax incentives include exemption
or reduction of import duties on machinery
and raw materials, and corporate income
tax exemptions and reductions. Non-tax
incentives include permission to bring in
foreign workers, own land and take or remit
foreign currency abroad. Additionally, projects
in any manufacturing and some service
sectors are entitled to majority or 100% foreign
ownership.
As indicated in the section above on opportunities,
the BOI has created several packages that target
different aspects of automobile manufacturing. In
addition, the BOI has classified 11 categories of vehicle
parts (including tires), as well as LNG or CNG containers,
engines, parts and equipment for NGVs, and machines
or equipment for NGV service stations, as priority
activities. As such, projects in these activities are granted
exemption of import duties on machinery for all zones,
eight-year corporate income tax exemption for all zones
(subject to the corporate income tax exemption cap), and all
relevant location-based incentives.
Of these 11 categories, six automotive activities (automatic
transmissions, CVTs, traction motors for automobiles such as
hybrid cars and fuel cell cars, electronic stability controls or ESCs,
regenerative braking systems, and rubber tires for vehicles) are
eligible for the BOI’s special incentives promoting sustainable
development, if the investor submits an application by the end of
December 2013 .
The incentives for these activities include an eight-year corporate
income tax holiday without being subject to a corporate income tax
exemption cap; a five-year 50% reduction of corporate income tax on
net profit following the expiration of the corporate income tax holiday;
exemption of import duty on machinery; a 10-year double deduction of
transportation, electricity and water supply costs; deduction from net profit
of 25% of investment in infrastructure installation and construction costs,
in addition to normal capital depreciation. Projects can be located anywhere
except Bangkok.
FOR FURTHER
INFORMATION:
Thailand Board of Investment (BOI):
www.boi.go.th
Thailand Automotive Institute (TAI):
www.thaiauto.or.th
Thai Automotive Industry Association (TAIA):
www.taia.or.th
Thai Autoparts Manufacturers Association (TAPMA):
www.thaiautoparts.or.th
ASEAN Supporting Industry Database (ASID):
www.asidnet.org
CONTACT USCONTACT US
Head Offices
OFFICE OF THE BOARD OF INVESTMENT
555 Vibhavadi-Rangsit Rd., Chatuchak, Bangkok 10900
Tel: 	 +66 (0) 2553-8111
Fax: 	 +66 (0) 2553-8222
Website: www.boi.go.th
Email: head@boi.go.th
ONE START ONE STOP INVESTMENT CENTER (OSOS)
18th
Floor, Chamchuri Square Building,
319 Phayathai Rd., Pathumwan, Bangkok 10330
Tel: 	 +66 (0) 2209-1100
Fax: 	 +66 (0) 2209-1199
Website: osos.boi.go.th
Email: osos@boi.go.th
ONE STOP SERVICE CENTER FOR VISAS AND WORK PERMITS
18th
Floor, Chamchuri Square Building,
319 Phayathai Rd., Pathumwan, Bangkok 10330
Tel: 	 +66 (0) 2209-1100
Fax: 	 +66 (0) 2209-1194
Email: visawork@boi.go.th
INVESTOR CLUB ASSOCIATION (ICA)
12th
and 16th
Floor, TP&T Building, 1 Soi Vibhavadi-Rangsit 19,
Vibhavadi-Rangsit Rd., Lad Yao, Chatuchak, Bangkok 10900
Tel: 	 +66 (0) 2936-1429
Fax: 	 +66 (0) 2936-1441-2
Website: www.ic.or.th
Email: is-investor@ic.or.th
Regional Offices
CHIANG MAI
Regional Investment and Economic Center 1
Airport Business Park 108-110,
90 Mahidol Road, Amphur Muang, Chiang Mai 50100
Tel: 	 +66 (0) 5320 3397-400
Fax: 	 +66 (0) 5320 3404
Email: chmai@boi.go.th
NAKHON RATCHASIMA
Regional Investment and Economic Center 2
2112/22 Mitraphab Road, Amphur Muang, Nakhon Ratchasima 30000
Tel: 	 +66 (0) 4421 3184-6
Fax: 	 +66 (0) 4421 3182
Email: korat@boi.go.th
KHONKAEN
Regional Investment and Economic Center 3
177/54 Moo 17, Mitraphab Road, Amphur Muang, Khonkaen 40000
Tel: 	 +66 (0) 4327 1300-2
Fax: 	 +66 (0) 4327 1303
Email: khonkaen@boi.go.th
CHONBURI
Regional Investment and Economic Center 4
46 Moo 5 Laem Chabang Industrial Estate, Sukhumvit Road,
Toongsukhla, Sriracha, Chonburi 20230
Tel: 	 +66 (0) 3840 4900
Fax: 	 +66 (0) 3840 4997, +66 (0) 3840 4999
Email: chonburi@boi.go.th
SONGKHLA
Regional Investment and Economic Center 5
7-15 Chaiyong Building Juti Uthit 1 Road, Hadd Yai, Songkhla 90110
Tel: 	 +66 (0) 7434 7161-5
Fax: 	 +66 (0) 7434 7160
Email: songkhla@boi.go.th
SURAT THANI
Regional Investment and Economic Center 6
49/21-22 Sriwichai Road, Makhamtia, Amphur Muang,
Surat Thani 84000
Tel: 	 +66 (0) 7728 4637, +66 (0) 7728 4435
Fax: 	 +66 (0) 7728 4638
Email: surat@boi.go.th
PHITSANULOK
Regional Investment and Economic Center 7
3rd
Floor, Thai Sivarat Building, 59/15 Boromtrilokkanat 2 Rd.,
Naimuang, Amphur Muang, Phitsanulok 65000
Tel: 	 +66 (0) 5524-8111
Fax: 	 +66 (0) 5524-8777
Email: phitsanulok@boi.go.th
Overseas Offices
BEIJING
Thailand Board of Investment, Beijing Office
Royal Thai Embassy, No.40 Guang Hua Rd., Beijing 100600 P.R.C.
Tel: 	 +86-10-6532-4510
Fax: 	 +86-10-6532-1620
Email: beijing@boi.go.th
FRANKFURT
Thailand Board of Investment, Frankfurt Office
Investment Section, Royal Thai Consulate-General
Bethmannstr. 58,5.0G
60311 Frankfurt am Main,
Federal Republic of Germany
Tel: 	 +49 (069) 92 91 230
Fax: 	 +49 (069) 92 91 2320
GUANGZHOU
Thailand Board of Investment, Guangzhou Office
Investment Promotion Section, Royal Thai Consulate-General,
Room 1216-1218, Garden Tower, 368 Huanshi Dong Rd.,
Guangzhou 510064 P.R.C
Tel: 	 +86-20-8333-8999 ext. 1216-8, +86-20-8387-7770
Fax: 	 +86-20-8387-2700
Email: guangzhou@boi.go.th
LOS ANGELES
Thailand Board of Investment, Los Angeles Office
Royal Thai Consulate-General, 611 North Larchmont Boulevard,
3rd
Floor, Los Angeles CA 90004, U.S.A.
Tel: 	 +1 (0)-323-960-1199
Fax: 	 +1 (0)-323-960-1190
Email: boila@boi.go.th
MUMBAI
Thailand Board of Investment, Mumbai Office
Royal Thai Consulate-General
1st
Floor, Dalalmal House, Jamnalal Bajaj Marg,
Nariman Point, Mumbai - 400 021
Republic of India
Tel: 	 +(91 22) 2204 1589-90
Fax: 	 +(91 22) 2282 1071
Email: mumbai@boi.go.th
NEW YORK
Thailand Board of Investment, New York Office
7 World Trade Center, 34th
Floor. Suite F,
250 Greenwich Street, New York, New York 10007, U.S.A.
Tel: 	 +1 (0) 212 422 9009
Fax: 	 +1 (0) 212 422 9119
Email: nyc@boi.go.th
Website: www.thinkasiainvestthailand.com
OSAKA
Thailand Board of Investment, Osaka Office
Royal Thai Consulate-General, Bangkok Bank Building, 7th
Floor,
1-9-16 Kyutaro-Machi, Chuo-Ku, Osaka 541-0056 Japan
Tel:	 +81 (0) 6-6271-1395
Fax:	 +81 (0) 6-6271-1394
Email: osaka@boi.go.th
PARIS
Thailand Board of Investment, Paris Office
Ambassade Royale de Thaïlande
8, rue Greuze, 75116 Paris, France
Tel: 	 +(33-1) 56 90 26 00
Fax: 	 +(33-1) 56 90 26 02
Email: par@boi.go.th
SEOUL
Thailand Board of Investment, Seoul Office
#1804, 18th
Floor, Coryo Daeyungak Tower,
25-5, Chungmuro 1-ga, Jung-gu, Seoul, 100-706, Korea
Tel:	+82-2-319-9998
Fax:	+82-2-319-9997
Email: seoul@boi.go.th
SHANGHAI
Thailand Board of Investment, Shanghai Office
Royal Thai Consulate-General, 15th
Floor, Crystal Century Tower,
567 Weihai Rd., Shanghai 200041, P.R.C
Tel:	+86-21-6288-9728-9
Fax:	+86-21-6288-9730
Email: shanghai@boi.go.th
STOCKHOLM
Thailand Board of Investment, Stockholm Office
Stureplan 4C 4th
Floor, 114 35 Stockholm, Sweden
Tel:	 +46 (0) 8463 1158, +46 (0) 8463 1174-75
Fax:	 +46 (0) 8463 1160
Email: stockholm@boi.go.th
SYDNEY
Thailand Board of Investment, Sydney Office
Suite 101, Level 1, 234 George Street, Sydney,
New South Wales 2000, Australia
Tel:	+61-2-9252-4884
Fax:	+61-2-9252-2883
Email: sydney@boi.go.th
TAIPEI
Thailand Board of Investment, Taipei Office
Taipei World Trade Center, 3rd
Floor, Room 3E 39-40
No.5 Xin-Yi Rd., Sec. 5 Taipei 110, Taiwan R.O.C.
Tel:	+886-2-2345-6663
Fax:	+886-2-2345-9223
Email: taipei@boi.go.th
TOKYO
Thailand Board of Investment, Tokyo Office
Royal Thai Embassy, 8th
Floor, Fukuda Building West,
2-11-3, Akasaka, Minato-ku, Tokyo 107-0052 Japan
Tel:	 +81 (0) 3-3582-1806
Fax:	 +81 (0) 3-3589-5176
Email: tyo@boi.go.th

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Automotive industry

  • 2. THAILAND: GLOBAL GREEN AUTOMOTIVE PRODUCTION BASE Thailand’s automotive industry has been continually developing for over 50 years with strong support from both the public and private sectors. Thailand has been the automotive hub of ASEAN, with the largest automotive production among Southeast Asian countries, ranking ninth globally in 2012. The automotive industry is a vital sector in Thailand, with a significant contribution to the country’s economy, accounting for 10% of Thailand’s gross domestic product (GDP). In 2012, Thai automotive production capacity was 2.75 million vehicles and the industry employed over 500,000 people; the production capacity is expected to reach 3 million units by 2015. The government coordinated with the private sector to formulate the Master Plan for Automotive Industry (2012-2016) to develop Thailand as a global green automotive production base and to increase research and development for automotive technology. Thailand has approximately 709 Tier 1 auto parts suppliers and 1,700 Tier 2 and 3 suppliers. More than half of the Tier 1 suppliers are car part companies. Of the top 100 auto parts manufacturers in the world, 50% have factories in Thailand; the country’s manufacturing base is strong enough to supply all of the necessary parts, from engine parts to interior and body parts. Majormultinationalautomotiveindustryleaderswith presence in Thailand include: Toyota Motors, Isuzu Motors, Honda Automobile, Nissan Motors, Suzuki Motor, Mitsubishi Motors, Auto Alliance Thailand (Ford and Mazda), Hino Motor, General Motors, BMW Manufacturing, Volvo Car Thailand, Mercedes-Benz Thailand and Tata Motors.
  • 3. Structure of Thai Automotive Industry Source: Thai Autoparts Manufacturers Association and BOI as of Aug 2012 “ASEAN countries are trying to promote green and environmental friendly technology. Thai government announced its vision to become Hub of Global Green Automotive Production. Thailand has high potential to become the Hub of Global Green Automotive Production towards global trend.” - Mrs. Piengjai Keawsuwan, President of ASEAN Automotive Federation and President of the Thai Automotive Industry Association - Structure of Thai Automotive Industry Assembler (14 car makers, 7 motocycle makers) 100,000 workers LSEs Large Scale Enterprises Foreign J/V Local Suppliers Foreign Majority 54% Thai Majority 23% Pure Thai 23% SMEs Small & Medium Enterprises Tier 1 (709 companies) Tier 2, 3 (1,700 companies) 450,000workers
  • 4. BIG INDUSTRY DRIVERS The year 2012 was a historic year for the Thai automotive industry, with the highest production ever: over two million cars. Many leading automotive firms plan to increase investment in capacity in 2013. Toyota plans to invest US$400 million to build its second assembly plant at the Gateway Industrial Estate in Chachoengsao. Production at the new plant will be launched mid-2013, which will raise production at the Gateway complex from 220,000 to 300,000 units per year. Toyota has a long plan to invest US$667 million to raise capacity to 1.2 million units per-year within the next five years. Honda plans to build a new plant in Prachinburi, with an investment of US$1,100 million.The new plant will be opened in 2015 and will add production capacity another 240,000 units per-year. Nissan plans to invest US$500 million to erect the second assembly plant on Bangna-Trat Road. The new plant will begin production in 2014 with an initial capacity of 75,000 units per-year, and will expand up to 150,000 units. Mazda has decided to invest almost US$375 million to open a transmission plant in Chonburi, near the Auto Alliance Thailand (AAT) plant in Rayong. Operations at the new plant will commence in March 2016, and will supply automatic transmissions for SkyActiv models. Several Chinese auto-makers also plan to invest in Thailand. China’s SAIC Motor Corp will enter into a US$289 million joint venture with Thailand’s Charoen Pokphand Group (CP) to establish a 50,000 unit assembly plant of British MG cars in Thailand. Moreover, Chinese sport utility vehicle (SUV) and pick-up truck maker Great Wall Motor (GWM) has announced plans to invest up to US$340 million in Thailand.
  • 5. AUTOMOTIVE INDUSTRY OVERVIEW The Thailand automotive industry has grown steeply and in 2012 production hit a new record of 2.45 million units, 68% higher than 2011. Thanks to the government’s First Car Buyer scheme, which allowed people buying a first car to receive up to THB100,000 (US$3,333) tax refund, vehicle sales and production were boosted. Moreover, according to the Thailand Ministry of Commerce, Thailand’s automotive industry was the largest export sector, with an export value US$24 billion in 2012. In the same period, auto parts imports totaled nearly US$13 billion. Thailand is in a superb location for automotive production, due to its strategic location at the center of Southeast Asia, a large pool of skilled labor at an affordable cost, excellent infrastructure, as well as strong government support. 0 2 4 6 8 10 12 14 16 18 20 China USA Japan Germany SouthKorea India Brazil Mexico Thailand Canada Russia Spain France UK CzechRep. Turkey Indonesia Global Automotive Production, 2012 UnitsProduced(millions) Global Automotive Production, 2012 Source: International Organization of Motor Vehicle
  • 6. Thailand’s Motor Vehicle Production by Unit, 2007-2012 2007 2008 2009 2010 2011 2012 Change 2011- 2012 Passenger Car 315,444 401,474 313,442 554,387 537,987 957,623 78% Commercial Car (exclude one-ton pickup) 23,522 17,780 15,202 24,158 20,608 43,842 62% One ton pickup 948,380 974,775 670,734 1,066,759 899,200 1,452,252 113% Total 1,287,346 1,394,029 999,378 1,645,304 1,457,795 2,453,717 68% Y-O-Y Growth (%) 8% -28% 65% -11% 68% Source: Thai Automotive Institute With 2.45 million vehicles manufactured in Thailand in 2012, the country was ranked #9 among automotive manufacturing countries in the world. According to the Thai Automotive Institute, production is predicted to reach 2.5-2.6 million units in 2013, and will reach 3 million units by 2015. “Thailand is a global green automotive production base, which in year 2012, was ranked 9th highest in terms of automotive production in the world. Automotive manufacturers from around the world have increased their investments in Thailand because they realize that we have existing strong supply chains, acceptable skilled human resources, as well as significant investment support from BOI.” - Dr. Patima Jeerapaet, President of Thailand Automotive Institute -
  • 7. Top 10 Thailand’s Vehicle Export Destinations in 2012 Country Value (million US$) % Australia 3,840 16.3% Indonesia 3,090 13.1% Japan 1,708 7.2% Malaysia 1,627 6.9% Saudi Arabia 1,288 5.5% Philippines 1,025 4.3% Arab Emirates 688 2.9% South Africa 637 2.7% Oman 537 2.3% Brazil 482 2.0% Total 14,922 63% Source: The Ministry of Commerce Thailand’s Automotive Industry Growth, 2007-2012 Source: Thai Automotive Institute 0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 2007 2008 2009 2010 2011 2012 Thailand’s Automotive Industry Growth, 2007-2012 Units Production Domestic Sale Export The top ten destinations ofThai automotive exports accounted for 63% of allThailand’s automotive exports worldwide. Australia and Indonesia are the major destinations of Thai-manufactured automotive products.
  • 8. THAILAND’S AUTO PARTS INDUSTRY While Thailand has emerged as a regional automotive production hub, the automotive parts and components sector has also played a significant role in the strong growth of the automotive industry. There are approximately 2,400 automotive suppliers in the country, about 709 of which are original equipment manufacturers (OEMs). Major foreign parts and components manufacturers inThailand are such as France’s Valeo, Germany’s Bosch, US-based TRW, Britain’s GKN and Japan’s Denso, Mitsuba and Mitsubishi Electric. According to the Japan Automobile Manufacturers Association, Thailand-made automotive parts have the highest quality among the ASEAN countries. Local manufacturers supply about 85% of the parts used in pickup truck assembly, and about 70% of those for passenger cars assembled in Thailand. Moreover, the country produces nearly 100% of the parts used in the assembly of motorcycles. In 2012, the majority of Thailand’s automotive parts exports were OEM parts (US$5.6 billion), comprising 77% of total automotive parts exports. This is followed by engines (US$900 million), at 13%; and spare parts (US$667 million), at 9%.
  • 9. 50 of the Top 100 Global OEM Parts Suppliers in Thailand, 2011 Robert Bosch Denso Continental Magna International Aisin Seiki Faurecia Johnson Controls ZF Friedrichshafen Delphi Automotive Valeo TRW Automotive Lear Yazaki BASF Sumitomo Electric Toyota Boshoku CalsonicKansei Cummis Autoliv JTEKT Visteon JATCO Dana Benteler Schaeffler BorgWarner NTN Mahle DuPont Tenneco Toyoda Gosei NSK Brose NHK Spring Mitsubishi Electric Koito Manufacturing Plastic Omnium Takata GKN Driveline Federal-Mogul IAC Goodyear Michelin Tokai Rika Bridgestone/ Firestone TS Tech Grupo Antolin Honeywell TI Automotive Bayer Source: Automotive News - June 11, 2012 Thailand’s Auto Parts Exports, 2012 Source: Thai Automotive Institute 1%9% 13% 77% Thailand’s Auto Parts Export, 2012 OEM parts Engines Spare parts Others
  • 10. AUTOMOTIVE ELECTRONICS The utilization of electronics has become more prevalent across a variety of automobile systems. Electronics systems have improved automobile performance, safety, comfort, and efficiency. Moreover, the trend of alternative fuel, fuel efficiency and emissions standards are important factors driving demand of automotive electronics. The global demand for automotive electronics systems is expected to reach US$191.3 billion in 2013 and is forecast to reach US$314.4 billion in 2020. Innovation and development in automotive electronics have expanded to support the high demand for smarter vehicles. Automotive electronic components can be utilized in many systems including power or engine controlling systems, safety systems, driver assistance, passenger comfort, information systems, and in-car entertainment. As the major automotive production hub of ASEAN, Thailand is one of the largest automotive electronics marketsintheworld.Industryanalystshaveindicated that there is still significant opportunity to invest in automotive electronics in Thailand. There are leading automotive electronics manufacturers in Thailand, such as Toyota Tsusho, who produces embedded software for automotive applications, and other well- known local manufacturers, including Omron and Mizuki.
  • 11. OPPORTUNITIES Thailand is a vehicle production base in ASEAN, with the largest amount of vehicle assembly in the region. Although many leading vehicle manufacturers and auto parts and components producers have production facilities in the country, some auto parts are still imported from overseas. Opportunities exist for foreign suppliers to manufacture electronic fuel- injection systems, substrates for catalytic converters, continuously variable transmissions, electronic stability controls and regenerative braking systems, among numerous other products in Thailand. More R&D, design and testing centers are also needed, despite major players such as Yamaha, Bridgestone, Maxxis, and Michelin operating such facilities in Thailand already. Hi-Tech Vehicle Parts and Components Projects in high-tech vehicle parts and components manufacturing are considered priority activities by theThailand Board of Investment (BOI), which means they are exempt from machinery import duties and from corporate income tax for 8 years, regardless of location within the country. Some examples of eligible activities include electronic fuel-injection systems, ABS brake systems, substrates for catalytic converters, automatic transmissions, continuously variable transmissions (CVT), traction motors for automobiles (e.g. hybrid car, fuel cell), electronic stability control (ESC), and regenerative braking systems. NGV Car The Thai Ministry of Energy supports fuel-efficient transportation through a natural gas vehicle (NGV) initiative. This initiative includes natural gas subsidization through PTT Public Company Ltd., reduced import duty on NGV tanks from 17% to 10% in 2012, and reduced import duty on NGV control system parts and components, from 35% to 10%.
  • 12. Eco-Cars Eco-cars continue to receive incentives to promote the growth of the eco-car market locally and abroad. For instance, the incentives will be applied exclusively to materials that cannot be produced locally. Incentives include duty reduction of up to 90% granted for two years, with annual review. The new measure is intended to help eco-car manufacturers by lowering their production costs and reducing their burden in sourcing parts that are not available or locally produced in Thailand. This measure also encourages more investment in eco- car parts production, which provides the country with economies of scale and greater competitive advantage in the global eco-car production business. The BOI approved eco-car projects from Nissan, Honda, Suzuki, Mitsubishi and Toyota. Specific models such as the Nissan March, Honda Brio, Suzuki Swift, and Mitsubishi Mirage are currently being manufactured in Thailand. Additionally, Thailand’s Ministry of Finance has reduced the excise taxes on eco-cars from 30% to 17%. Passenger Cars Although Thailand has a strong focus on pickup trucks, passenger cars receive similar favorable treatment in manufacturing promotion. The requirement for the promotion of passenger car manufacturing includes a minimum capacity for the approved models of 100,000 units per-year within 5 years and a minimum investment, exclusive of land cost and working capital, of no less than US$500 million (THB15 billion). Projects that meet these criteria are eligible for a five-year corporate income tax holiday and exemption from import duties on machinery regardless, of location within the country.
  • 13. E-85 Fuel Thailand’s Ministry of Finance has reduced the excise taxes on cars using E85 fuel to 22%, 27% and 32%, depending on engine size. Big-Bike, 4-Stroke Engine Motorcycles (from 248 CC) Regardless of plant locations, big-bike motorcycle manufacturing activities will be eligible for exemption from import duty on machinery. For projects that include engine manufacturing starting from machining key parts, such as cylinder heads, crankcases, crankshaft, camshaft, cylinder block and connecting rod, the corporate income tax holiday will be offered for 3-8 years, depending on the plant location. Vehicle Tires Firms manufacturing vehicle tires are exempt from machinery import duties and corporate income tax for 8 years, regardless of zone.   According to the Excise Department, Ministry of Finance, the current automotive excise taxes scheme is detailed as follows: Automotive Excise Taxes Passenger Car <2,000cc, <220HP 30% 2,000-2,500cc, <220HP 35% 2,500-3,000cc, <220HP 40% >3,000cc, >220HP 50% E20 <2,000cc, <220HP 25% 2,000-2,500cc, <220HP 30% 2,500-3,000cc, <220HP 35% >3,000cc, >220HP 50% Electronic / Fuel Cell 10% Eco-Car, Gasoline ≤1,300cc for Gasoline Engines or ≤1,400cc for Diesel Engines 17% Natural Gas 20% Hybrid Vehicle <3,000cc 10% >3,000cc 50% Single Car Pickup <3,250cc 3% >3,250cc 50% Passenger Pickup <3,250cc 20% >3,250cc 50% Double Cap Pickup <3,250cc 12% >3,250cc 50% Source: Excise Department, Ministry of Finance
  • 14. “Thailand has been ‘in the auto businesses’ for more than 50 years. Over time, a dense and capable supplier community has developed. The Laem Chabang deep- sea port allows for efficient export, and many well managed industrial estates have grown in automotive clusters that facilitate near- sourcing.” - Mr. Martin Apfel, President of Southeast Asia Operation, General Motors - Automotive Excise Taxes 2016 Vehicle Engine Size Carbon dioxide (CO2) generate (g/km) <100 100-150 150-200 >200 Passenger Car <3,000 cc 30% 35% 40% E85/CNG (OEM) 25% 30% 35% >3,000 cc 50% Hybrid Vehicle <3,000 cc 10% 20% 25% 30% >3,000 cc 50% Eco Car 1,300-1,400 cc 14% 17% E85 12% Vehicle Model/Engine size <200 >200 Pick-up Single Cab 3% 5% Space Cab 5% 7% Double Cab 12% 15% Pick-up Passenger <3,250 cc 25% 30% >3,250 cc 50% Source: Excise Department, Ministry of Finance In order to promote green technology, the Thailand government has restructured automotive excise taxes to better-align with vehicle emissions that will be effective on 1 January 2016, as follows:
  • 15. WHY THAILAND According to the Automotive Industry Master Plan (2012-2016), Thailand’s automotive industry will become a global green automotive production base. This development will expand the automotive industry of Thailand from the production hub of ASEAN to the global market. Nearlyalloftheworld’smajorautomakers,assemblers, and parts and components manufacturers have established manufacturing facilities in Thailand. All of leading Japanese vehicle producers have opened production sites in the country, as have major American automotive firms such as Ford Motors and General Motors, as well as German companies Daimler - makers of Mercedes Benz - and Bayerische Motoren Werke, better-known as BMW. Promising Investment Destination Thailand is an excellent location as a world-class automotive production base. Almost all of the world’s major automotive manufacturers have factories based in the country. Situated in a strategic location in the center of Southeast Asia, Thailand provides easy access to regional markets. Growth in domestic demand has bolstered the robust export market for the Thai automotive industry. These factors contribute to the evident opportunities for foreign investors to enter the market.
  • 16. Additionally, there are tax and non-tax incentives that the Thai Government offers to the manufacturers of vehicles, vehicle parts, and for automotive R&D and testing. Non-tax incentives include land ownership rights for foreign investors, permission to bring in foreign experts and technicians, and work permit and visa facilitation for foreign expat employees. The Thai Government also does not impose export requirements, local content requirements, location requirements, or foreign equity restrictions on manufacturers. Abundant skilled-labor supply Thailand provides a highly efficient and affordable workforce. In 2012, more than 500,000 workers were employed in the automotive sector in the country. Thai laborers have comparative advantages in high skill levels and quality over most other countries in the region. Auto Parts Clusters The automotive industry has been a priority sector for the economy of Thailand. Thailand has shown impressive growth in this sector. With government support, auto parts clusters were developed to tighten business connections between automotive firmsandtheirsuppliersinenhancedcommunication, lower logistics costs and improved flow of products. Excellent Infrastructure Thailand is a transportation hub in the region; the country provides world-class infrastructure to support convenient logistics. With extensive road networks through the east-west and north-south corridors facilitating access to all nearby countries, Bangkok’s Suvarnabhumi International Airport, Laem Chabang — a leading deep-sea port — and rail links to all regions across the country, Thailand offers manufacturers cheap, easy, and efficient logistics. Thailand’s Trade Liberalization Thailand has bilateral free trade agreements with many countries, including Japan, India, Australia, New Zealand, and members of ASEAN, extending trade opportunities into the global marketplace. Furthermore, the ASEAN Free Trade Agreement (AFTA) will expand the market of Thailand to the 10 member countries of ASEAN that collectively comprise a market of 600 million consumers. Tariffs for auto parts exported to ASEAN nations were eliminated entirely in 2010.
  • 17. The establishment of the ASEAN Economic Community (AEC) in 2015 will serve as a massive single market that is fully integrated into the global economy. The AEC will open new doors to manufacturers by transforming ASEAN into a region with free movement of goods, capital, services, investment and workforce. Excellent Government Support The Thai government has a mission to promote the country as a global green automotive production base.The Master Plan for Automotive Industry (2012- 2016) was developed with a view of establishing the Kingdom as one of the world’s key manufacturing centers by increasing vehicle output by an average of 10% annually; and also aims at making the country one of the top ten auto-manufacturing countries, a goal that has already been achieved with Thailand’s rank of ninth, globally, in 2012. To support automotive investment, BOI has a philosophy to promote liberalization and transparency, providing equaltreatmenttoallmarketplayers.Thecountryhas created the most attractive business environment for the auto industry and has prepared essential resources for every type of automotive business, including developed basic infrastructure, quality labor force, as well as strong upstream industries and supporting industries.
  • 18. ATTRACTIVE INVESTMENT INCENTIVES The BOI offers a range of fiscal and non- tax incentives for investments based on location. Tax incentives include exemption or reduction of import duties on machinery and raw materials, and corporate income tax exemptions and reductions. Non-tax incentives include permission to bring in foreign workers, own land and take or remit foreign currency abroad. Additionally, projects in any manufacturing and some service sectors are entitled to majority or 100% foreign ownership. As indicated in the section above on opportunities, the BOI has created several packages that target different aspects of automobile manufacturing. In addition, the BOI has classified 11 categories of vehicle parts (including tires), as well as LNG or CNG containers, engines, parts and equipment for NGVs, and machines or equipment for NGV service stations, as priority activities. As such, projects in these activities are granted exemption of import duties on machinery for all zones, eight-year corporate income tax exemption for all zones (subject to the corporate income tax exemption cap), and all relevant location-based incentives. Of these 11 categories, six automotive activities (automatic transmissions, CVTs, traction motors for automobiles such as hybrid cars and fuel cell cars, electronic stability controls or ESCs, regenerative braking systems, and rubber tires for vehicles) are eligible for the BOI’s special incentives promoting sustainable development, if the investor submits an application by the end of December 2013 . The incentives for these activities include an eight-year corporate income tax holiday without being subject to a corporate income tax exemption cap; a five-year 50% reduction of corporate income tax on net profit following the expiration of the corporate income tax holiday; exemption of import duty on machinery; a 10-year double deduction of transportation, electricity and water supply costs; deduction from net profit of 25% of investment in infrastructure installation and construction costs, in addition to normal capital depreciation. Projects can be located anywhere except Bangkok.
  • 19. FOR FURTHER INFORMATION: Thailand Board of Investment (BOI): www.boi.go.th Thailand Automotive Institute (TAI): www.thaiauto.or.th Thai Automotive Industry Association (TAIA): www.taia.or.th Thai Autoparts Manufacturers Association (TAPMA): www.thaiautoparts.or.th ASEAN Supporting Industry Database (ASID): www.asidnet.org
  • 20. CONTACT USCONTACT US Head Offices OFFICE OF THE BOARD OF INVESTMENT 555 Vibhavadi-Rangsit Rd., Chatuchak, Bangkok 10900 Tel: +66 (0) 2553-8111 Fax: +66 (0) 2553-8222 Website: www.boi.go.th Email: head@boi.go.th ONE START ONE STOP INVESTMENT CENTER (OSOS) 18th Floor, Chamchuri Square Building, 319 Phayathai Rd., Pathumwan, Bangkok 10330 Tel: +66 (0) 2209-1100 Fax: +66 (0) 2209-1199 Website: osos.boi.go.th Email: osos@boi.go.th ONE STOP SERVICE CENTER FOR VISAS AND WORK PERMITS 18th Floor, Chamchuri Square Building, 319 Phayathai Rd., Pathumwan, Bangkok 10330 Tel: +66 (0) 2209-1100 Fax: +66 (0) 2209-1194 Email: visawork@boi.go.th INVESTOR CLUB ASSOCIATION (ICA) 12th and 16th Floor, TP&T Building, 1 Soi Vibhavadi-Rangsit 19, Vibhavadi-Rangsit Rd., Lad Yao, Chatuchak, Bangkok 10900 Tel: +66 (0) 2936-1429 Fax: +66 (0) 2936-1441-2 Website: www.ic.or.th Email: is-investor@ic.or.th Regional Offices CHIANG MAI Regional Investment and Economic Center 1 Airport Business Park 108-110, 90 Mahidol Road, Amphur Muang, Chiang Mai 50100 Tel: +66 (0) 5320 3397-400 Fax: +66 (0) 5320 3404 Email: chmai@boi.go.th NAKHON RATCHASIMA Regional Investment and Economic Center 2 2112/22 Mitraphab Road, Amphur Muang, Nakhon Ratchasima 30000 Tel: +66 (0) 4421 3184-6 Fax: +66 (0) 4421 3182 Email: korat@boi.go.th KHONKAEN Regional Investment and Economic Center 3 177/54 Moo 17, Mitraphab Road, Amphur Muang, Khonkaen 40000 Tel: +66 (0) 4327 1300-2 Fax: +66 (0) 4327 1303 Email: khonkaen@boi.go.th CHONBURI Regional Investment and Economic Center 4 46 Moo 5 Laem Chabang Industrial Estate, Sukhumvit Road, Toongsukhla, Sriracha, Chonburi 20230 Tel: +66 (0) 3840 4900 Fax: +66 (0) 3840 4997, +66 (0) 3840 4999 Email: chonburi@boi.go.th SONGKHLA Regional Investment and Economic Center 5 7-15 Chaiyong Building Juti Uthit 1 Road, Hadd Yai, Songkhla 90110 Tel: +66 (0) 7434 7161-5 Fax: +66 (0) 7434 7160 Email: songkhla@boi.go.th SURAT THANI Regional Investment and Economic Center 6 49/21-22 Sriwichai Road, Makhamtia, Amphur Muang, Surat Thani 84000 Tel: +66 (0) 7728 4637, +66 (0) 7728 4435 Fax: +66 (0) 7728 4638 Email: surat@boi.go.th PHITSANULOK Regional Investment and Economic Center 7 3rd Floor, Thai Sivarat Building, 59/15 Boromtrilokkanat 2 Rd., Naimuang, Amphur Muang, Phitsanulok 65000 Tel: +66 (0) 5524-8111 Fax: +66 (0) 5524-8777 Email: phitsanulok@boi.go.th Overseas Offices BEIJING Thailand Board of Investment, Beijing Office Royal Thai Embassy, No.40 Guang Hua Rd., Beijing 100600 P.R.C. Tel: +86-10-6532-4510 Fax: +86-10-6532-1620 Email: beijing@boi.go.th FRANKFURT Thailand Board of Investment, Frankfurt Office Investment Section, Royal Thai Consulate-General Bethmannstr. 58,5.0G 60311 Frankfurt am Main, Federal Republic of Germany Tel: +49 (069) 92 91 230 Fax: +49 (069) 92 91 2320 GUANGZHOU Thailand Board of Investment, Guangzhou Office Investment Promotion Section, Royal Thai Consulate-General, Room 1216-1218, Garden Tower, 368 Huanshi Dong Rd., Guangzhou 510064 P.R.C Tel: +86-20-8333-8999 ext. 1216-8, +86-20-8387-7770 Fax: +86-20-8387-2700 Email: guangzhou@boi.go.th LOS ANGELES Thailand Board of Investment, Los Angeles Office Royal Thai Consulate-General, 611 North Larchmont Boulevard, 3rd Floor, Los Angeles CA 90004, U.S.A. Tel: +1 (0)-323-960-1199 Fax: +1 (0)-323-960-1190 Email: boila@boi.go.th MUMBAI Thailand Board of Investment, Mumbai Office Royal Thai Consulate-General 1st Floor, Dalalmal House, Jamnalal Bajaj Marg, Nariman Point, Mumbai - 400 021 Republic of India Tel: +(91 22) 2204 1589-90 Fax: +(91 22) 2282 1071 Email: mumbai@boi.go.th NEW YORK Thailand Board of Investment, New York Office 7 World Trade Center, 34th Floor. Suite F, 250 Greenwich Street, New York, New York 10007, U.S.A. Tel: +1 (0) 212 422 9009 Fax: +1 (0) 212 422 9119 Email: nyc@boi.go.th Website: www.thinkasiainvestthailand.com OSAKA Thailand Board of Investment, Osaka Office Royal Thai Consulate-General, Bangkok Bank Building, 7th Floor, 1-9-16 Kyutaro-Machi, Chuo-Ku, Osaka 541-0056 Japan Tel: +81 (0) 6-6271-1395 Fax: +81 (0) 6-6271-1394 Email: osaka@boi.go.th PARIS Thailand Board of Investment, Paris Office Ambassade Royale de Thaïlande 8, rue Greuze, 75116 Paris, France Tel: +(33-1) 56 90 26 00 Fax: +(33-1) 56 90 26 02 Email: par@boi.go.th SEOUL Thailand Board of Investment, Seoul Office #1804, 18th Floor, Coryo Daeyungak Tower, 25-5, Chungmuro 1-ga, Jung-gu, Seoul, 100-706, Korea Tel: +82-2-319-9998 Fax: +82-2-319-9997 Email: seoul@boi.go.th SHANGHAI Thailand Board of Investment, Shanghai Office Royal Thai Consulate-General, 15th Floor, Crystal Century Tower, 567 Weihai Rd., Shanghai 200041, P.R.C Tel: +86-21-6288-9728-9 Fax: +86-21-6288-9730 Email: shanghai@boi.go.th STOCKHOLM Thailand Board of Investment, Stockholm Office Stureplan 4C 4th Floor, 114 35 Stockholm, Sweden Tel: +46 (0) 8463 1158, +46 (0) 8463 1174-75 Fax: +46 (0) 8463 1160 Email: stockholm@boi.go.th SYDNEY Thailand Board of Investment, Sydney Office Suite 101, Level 1, 234 George Street, Sydney, New South Wales 2000, Australia Tel: +61-2-9252-4884 Fax: +61-2-9252-2883 Email: sydney@boi.go.th TAIPEI Thailand Board of Investment, Taipei Office Taipei World Trade Center, 3rd Floor, Room 3E 39-40 No.5 Xin-Yi Rd., Sec. 5 Taipei 110, Taiwan R.O.C. Tel: +886-2-2345-6663 Fax: +886-2-2345-9223 Email: taipei@boi.go.th TOKYO Thailand Board of Investment, Tokyo Office Royal Thai Embassy, 8th Floor, Fukuda Building West, 2-11-3, Akasaka, Minato-ku, Tokyo 107-0052 Japan Tel: +81 (0) 3-3582-1806 Fax: +81 (0) 3-3589-5176 Email: tyo@boi.go.th