Thailand to offer ‘relocation package’ for trade-war-bugged firms
Thailand is eyeing to secure a “relocation package” of benefits to lure foreign companies who are planning to move its operations from China as the trade war escalates anew.
Perks in the relocation package include expedited licenses and permits alongside lighter regulations imposition and tax modifications. These will be discussed further by economic ministers on Friday.
“We have to understand that they are escaping death, so speed is important,” a Board of Investment official said upon the discussion of efforts in getting the attention of foreign investors lashed by the U.S.-China trade war.
The BOI divulged that they are looking into acquiring 100 Chinese and other foreign firms.
Thailand is poised to bolster its economic growth as the Thai Deputy Prime Minister Somkid Jatuusripitak announced a special offering or package on personnel development for firms to train Thai workers.
Thailand is targeting firms in China that will be hit by the additional U.S. imposed tariffs on Chinese products.
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