BoI confident Smart Visa will attract foreign investment

BANGKOK, Jan 17 (TNA) -- The Board of Investment (BoI) is confident that “Smart Visa” will attract foreign investment in technology-based industries. BoI secretary-general Duangjai Asawachintachit said the special Smart Visa that the cabinet approved on Jan 16 would support investment in 10 targeted industries and the Thailand 4.0 policy of the government. Smart Visa would facilitate businesses and business facilitation was a factor for the attraction of investment in addition to promotional privileges, she said. Smart Visa was designed for foreign executives and investors in 10 targeted industries namely advanced automobile, smart electronics, health tourism, agriculture and biological technology, future foods, robotics and automation, aviation and logistics, biofuel and biochemical industries, digital businesses, and medical industries. Investment in the targeted industries rose from 299 billion baht in 2016 to 392 billion baht in 2017. The BoI expected the figure to exceed 400 billion baht this year. Those holding Smart Visa and their followers can stay in Thailand for up to 4 years, report to authorities once a year instead of every 90 days and exit and enter the country without a re-entry permit. (TNA)