BOI approves 'green' investment projects, PM2.5 projects
The Board of Investment’s (BOI) board of directors have approved measures to promote investment to address the issue of PM2.5 particulate pollution, according to the organisation’s secretary-general, Narit Therdsteerasukdi.
The measures involve expanding the scope of support through investment promotion measures for community and social development. It encompasses support for local organisations and groups of farmers to enhance environmental standards in communities. This would include forest management in targeted areas, including community forests, conservation forests, and national forest reserves, in order to alleviate the nationwide issue of PM2.5 particulate pollution.
Moreover, the BOI emphasises promotion of environmentally less harmful investment, as well as pollution reduction by various sectors such as industry, energy, transportation, agriculture, and communities.
In the past, the BOI has undertaken measures to aid in these areas, such as promoting the production and use of alternative energy, upgrading industries by utilising energy-saving machinery and environmentally better technologies, as well as promoting electric vehicle industries.
Regarding the current measures to address smog caused by PM2.5 pollution, the BOI has collaborated with the Ministry of Natural Resources and Environment to establish measures that support and enhance the capabilities of local organisations and farmer groups through various environmental management methods to increase sustained reduction of PM2.5 pollution.
Narit noted that activities eligible for benefits under the investment promotion measures to reduce PM2.5 pollution include constructing firebreaks in wet-forest areas, building moisture-retaining ridges, supporting firefighting tools and equipment, and providing training on forest fire prevention and control.
Those business operators participating in the forest management and PM2.5 pollution reduction initiatives, and meeting the criteria set and approved by the Ministry of Natural Resources and Environment, will receive a corporate income tax exemption for three years, not exceeding 200% of the actual investment in supporting local organisations and farmer groups.
Extension of 3 measures
Narit also noted that the approved extension of the investment promotion measures for an additional year beyond the original end date this December includes three measures – investment stimulation for economic recovery, a retention and expansion programme, and a relocation programme.
Applications for investment promotion can be submitted until the last business day of 2024.
Meanwhile, the BOI’s board of directors also approved investment promotion privileges for the following two projects with a combined investment value of 18.67 billion baht:
1. A biofuel production project derived from the used vegetable oil of BSGF Co. Ltd. (under Bangchak Corporation Plc) with an investment value of 10 billion baht. Waste from agricultural products and used vegetable oil, along with other waste materials, are used as the main raw materials for biofuel production, such as “sustainable” aviation fuel (SAF), “green” diesel, and “green” liquified petroleum gas (LPG).
2. The Smart Distribution Centre project of Omega Logistics Campus Co. Ltd., a joint venture between Pruksa Holding Plc and leading real estate and logistics companies from Singapore and Taiwan.
The investment value is 8.67 billion baht. It utilises warehouse management systems and advanced digital technology to distribute products in various industries like electronics, pharmaceuticals, medical equipment and devices, and consumer products.
