Thailand Law Library

by Thailand Lawyer

His Majesty King Bhumibol Adulyadej is graciously pleased to proclaim that:

Whereas it is expedient to revise the law on promotion of investment;

Be it, therefore, enacted by the King, by and with advice and consent of the National Administrative Reform Assembly as follows:

This Act is called the “Investment Promotion Act, B.E. 2520”

This Act shall come into force as from the day following the date of its publication in the Government Gazette.

1. Announcement of the Revolutionary Party No. 31 dated 29th November, B.E. 2501; and
2. Announcement of the National Executive Council No. 227, dated 18th October, B.E. 2515.

All other laws, rules, and regulations in so far as they deal with matters governed by this Act. Or are contrary to, or inconsistent with the provisions of this Act, shall be replaced by this Act.

In this Act,

1. “Applicant” means one who applies for investment promotion under this Act;
2. “Promoted person” means one who is granted a promotion certificate under this Act;
3. “Machinery” means the machinery which is essential for the promoted activity and those which are essential for the construction of a factory, and includes component parts, equipment, tools, implements, and pre-fabricated factory structures to be assembled as a factory;
4. “Board” means the Board of Investment;
5. “Member” means a member of the Board of Investment, and includes the Chairman and the Vice Chairman of the Board of Investment;
6. “Advisor” means an advisor to the Board of Investment;
7. “Secretary General” means the Secretary General of the Board of Investment;
8. “Office” means the Office of the Board of Investment;
9. “Competent Office” means one who has been appointed by the Prime Minister for the execution of this Act.

The Prime Minister shall have charge and control of the execution of this Act and shall have the power to appoint competent officials for the execution of this Act.