Cabinet has more plans to support its EEC project

CHANTHABURI, Feb 6 (TNA) -- The cabinet on Tuesday resolved to proceed with its Eastern Economic Corridor project with the processing of farm products and support for foreign universities’ branches in the East to produce workers for the EEC. Nathaporn Jatusripitak, advisor to the Prime Minister’s Office Minister, said the cabinet offered promotional privileges this year to attract foreign educational institutions to open their branches in the EEC or nearby areas. The cabinet targets personnel development in the fields of robots, biotechnology and aircraft. Individual donors supporting the education can deduct two times of their donations from their taxable income and corporate donors can have their same deduction from their taxable profits. The deduction will not exceed 10% of individuals’ income and 10% of corporate profits. Mr Nathaporn said Taiwan University was interested in opening its school in the EEC for post-graduate education on robotics and innovations. Support for the processing of farm products will cover soil improvement, the development of byproducts, food preservation and the production of organic fertilisers. The small and medium-sized enterprises that invest in the processing of farm products will enjoy income tax exemption for up to eight years. Large-scaled operators who support SMEs in the investment will have their income tax exemption for three years. (TNA)