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Measures include corporate income tax exemption of up to 15
years for businesses in the area and a tax exemption for
dividends, government spokesperson Ratchada Thanadirek said in a
statement.
The plan is part of the Eastern Economic Corridor, which covers
three provinces east of the capital, Bangkok. This is the
centrepiece of government efforts to boost growth and encourage
investment, especially in high-tech industries.
In June, the government approved investments worth $9.6 billion
over five years in the industrial east, including infrastructure
and utilities.
The zone enjoying the benefits will also include the U-Tapao
airport, which was completed in the Vietnam War for U.S. Air
Force B-52 bombers and has since been used as a low-key
civil-military facility.
U-Tapao will be linked by high-speed rail to the country's main
airport, Suvaranabhumi, and the Don Muang facility for low-cost
aviation. The aviation and logistics industry to be built up at
U-Tapao is planned to be the anchor of the special economic
zone.
Within the zone would be a 1.35-square-kilometre district called
an airport city, which would include five-star hotels,
high-grade restaurants and entertainment and conference space,
Ratchada said.
Additional measures, such as personal income tax benefits were
being considered, she said.
Among other perks, the city will allow alcohol sales around the
clock. In other parts of Thailand, shops cannot sell alcohol
between 2pm and 5pm or after midnight.
(Reporting by Panarat Thepgumpanat; Writing by Chayut
Setboonsarng; Editing by Bradley Perrett)
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