Thailand BOI approves US$6.2 billion in investments, including Foxconn-PTT’s EV venture, and improved battery, smart zones incentives

The Thailand Board of Investment (BOI) at a meeting on June 13, 2022, approved a combined 209.5 billion baht (US$6.2 billion) worth of investment applications in manufacturing and infrastructure projects, including 36.1 billion baht by Horizon Plus Co., Ltd., a joint venture between Taiwan’s Foxconn and Thailand’s PTT PCL, to make battery electric vehicles (BEV). The BOI also approved enhanced benefits for investment in battery production, building on a policy to become Southeast Asia’s EV manufacturing hub. A set of improved incentives to promote investments in smart industrial estates…