BOI (Board of Investment) Approves 'Green' Investment Projects and PM2.5 Initiatives
The Board of Investment (BOI) has endorsed initiatives to combat PM2.5 air pollution, reveals Secretary-General Narit Therdsteerasukdi. These initiatives offer incentives for local communities and farmers to improve environmental management, specifically tackling PM2.5 – fine particulate matter causing smog.
The BOI promotes eco-friendly investment and encourages sectors like industry, energy, transport, agriculture, and communities to reduce pollution and improve environmental practices. Historically, the BOI has supported alternative energy use, energy-efficient machinery, and the electric vehicle industry.
Current measures to control PM2.5 include collaborations with the Ministry of Natural Resources and Environment to empower local bodies and farmers in environmental stewardship. Eligible activities range from creating firebreaks in forests to training in fire prevention, with participating businesses potentially receiving a three-year corporate tax exemption, subject to conditions.
Furthermore, the BOI has extended three investment promotion measures for another year. These are designed to stimulate economic recovery, encourage business retention and expansion, and attract relocations. Investment promotion applications are open until the end of 2024.
Lastly, the BOI has granted privileges for two major projects totaling 18.67 billion baht in investment. This includes a 10 billion baht BSGF Co. Ltd. biofuel production project, using waste and used vegetable oil to produce sustainable aviation fuel and other "green" energy sources. The second is an 8.67 billion baht Smart Distribution Centre project by Omega Logistics Campus Co. Ltd., employing cutting-edge technology to distribute products across diverse sectors.