At the end of 2015 the government introduced economic measures that resulted in increased confidence regarding consumer spending. As a result the overall Thai economy is now forecast to grow by more than 3% in 2016. This growth will largely come from government investments in infrastructure, especially the electronic rail network in Bangkok and its Metropolitan areas.
In the second half of the year, the government is expected to aid large investment projects valued from around 60,000 million to 1 billion Baht. And investment promotion measures will encourage further investments by the Thailand Board of Investment (BOI) and the Ministry of Finance on Cluster programs. These projects will help entrepreneurs, and government agencies, promote further measures and accelerate growth even further.
In addition, the Export-Import Bank (EXIM) or Exim Bank, is assisting with measures to help SME exporters and entrepreneurs via government-funded projects. These projects cover SME exporters through renewable energy, logistics, special economic zones, related clusters and investment projects in CLMV countries. All will benefit from low interest rates.
With these exciting new policies the BOI expects to attract more local investment and foreign investment. One of the Incentives includes import duty exemption on machinery. By exhibiting at INTERMACH 2016, Exhibitors will receive multiple benefits from the new Cluster policy. This support and incentive from the BOI will encourage entrepreneurs to invest in manufacturing technology and new machinery and integrate the new equipment into their operations - all of which makes INTERMACH 2016 a 'must-exhibit' event.