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BOI proposal to boost industrial competitiveness

SET plummets in wake of tsunami

BOI proposal to boost industrial competitiveness

The state-run Board of Investment of Thailand (BOI) has proposed to its board to grant promotional privileges to corporations which can boost competitiveness, or will be able to solve industrial problems.

At the meeting, sources said the BOI board will consider investment projects which do not create direct profits such as investment on research and development (R&D), improvement of machinery technology, and development of alternative energy and ways to solve environmental problems.

Enterprises which have already invested in these areas and have not yet received promotional privileges, or their privileges have already expired, can apply so that they can be exempted from import tariffs and corporate tax, suggested the sources. (TNA)


SET plummets in wake of tsunami

The Thai stock market fell by 6.49 points on December 27 as investors rushed to sell off stocks in hotel groups following devastating tidal wave attack on December 26.

The Stock Exchange of Thailand (SET) plummeted by 14.76 points to stand at 655.59 points, before rallying to close at 663.86 points in the afternoon on the back of trading worth over 15.4 billion baht.

Worst affected were stocks in hotel companies, with investors noticeably jittery over the tsunamis which smashed into beach resorts.

An analyst from the Soros Company attributed the heavy selling to the psychological effects of the disaster, which he said would have a direct impact on the tourism industry, with hotels, restaurants and insurance companies particularly badly hit. However, he noted that the stock market had picked up slightly in the afternoon, with foreign and small-scale investors making purchases in the food, construction and medical sectors. (TNA)