Thailand’s Board of Investment (BOI) is planning to cancel some of the privileges it has been extending to textile businesses in the country.
The BOI is planning to revamp its promotion strategy for new projects by giving special support to environment-friendly industries, while withdrawing incentives to 11 industries, including textiles and garments.
Ms. Sutinee Poopaka, director of the Thailand Textile Institute (THTI), said besides Thailand, only Indonesia has integrated textile industries in Asean region. Hence, if the BOI cancels textile promotions, it will negatively impact the Thai industry, which is already suffering from the recent hike in minimum wage, The Nation reported.
She said Indonesia is continuing to promote its textile and garment industry and has set a target to reduce its export tariff to zero next year.