BOI, SET and SEC sign MOU to drive 10 new industries into the capital market
RegulationMacro
The Board of Investment, the Stock Exchange of Thailand and the Securities and Exchange Commission have jointly signed a memorandum of understanding for the BOI to IPO project, aimed at helping entrepreneurs, especially in the 10 New Economy industries, access funding sources in the capital market. Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas witnessed the signing. Under the measure, New Economy companies certified by the SET will receive an additional three-year corporate income tax exemption, or an additional 50 percent reduction for five years, while general companies will receive an additional two-year corporate income tax exemption, or an additional 50 percent reduction for three years, depending on the type of business. BOI Secretary-General Narit Therdsteerasukdi said the BOI provides the additional incentives, while the SET and the SEC will support preparation and the listing process on the SET or mai. Asadej Kongsiri, a board member and manager of the SET, said the project is an important piece of the jigsaw puzzle after the SET improved its securities listing criteria, and that it will support related expenses through the Capital Market Development Fund, while the SET and the SEC are trialing improvements to the IPO process to make it more streamlined and faster. SEC Secretary-General Pornanong Budsaratragoon said the cooperation will help investment-promoted entrepreneurs prepare and access the capital market efficiently. The 10 target New Economy industries cover advanced agriculture and food, biofuels and biochemicals, medical and health care, creative tourism, modern automotive, aviation and logistics, digital and e-commerce, smart electronics, robotics, and technology and innovation development.
