Thailand offers strategic opportunities in advanced materials and polymers due to its location, free trade agreements, and government support through the Board of Investment. Key points: - Thailand has free trade agreements with 18 nations, enabling export of advanced materials and polymers to major markets. - The BOI provides various tax incentives, exemptions on import duties for machinery/raw materials, and non-tax incentives to promote investment in advanced materials and polymers. - Major industries like automotive, electronics, food packaging drive demand for advanced materials and polymers in Thailand.

1. Why Thailand & Opportunities
for Advanced Materials and
Polymers
29 June 2022
Chanin Khaochan
DeputySecretaryGeneral
TheBoardofInvestmentofThailand 1

2. Thailand: a strategic location with free trade agreements
Sources: Bangkok Post, IMD, Fortune, ASEANstats, BOI, Department of Trade Negotiations, SME
THAILAND
Laos
Myanmar
Cambodia
Vietnam
India
1.38 billion
China
1.41 billion
Japan
125.84 million
662
million
ASEAN population
Within 3,000 KM
≈8% of world’s population
The Regional Comprehensive Economic
Partnership (RCEP) is a proposed
agreement between ASEAN and its free trade
agreement (FTA) partners.
Thailand has implemented 13 Free Trade Agreements (FTAs),
enabling businesses in Thailand to earn almost tariff-free trade
with 18 differentnations.
$56,092.79
$73,705.30
Jan-Dec 2020 Jan-Dec 2021
Export Value of FTAs
Unit: million USD
77% 79%
Increase in
proportion of
usage of FTA
rights
Increase in
value of
exports
under FTAs
+31%
2

3. 3
Thailand’s position as an international business hub
Sources: Bangkok Post, IMD, Fortune, ASEANstats
THAILAND –
THE GATEWAY TO ASIA
• Strategic location
• Resilient exports
• Second home for global
MNEs
Mega investment opportunities
ASIA
• Key advantages over competitors by tapping into many
of the world’s most exciting emerging economies.
• Regional connectivity to CLMV, ASEAN and the Greater Asia
region, and promising emerging economies in the world;
4.6 billion consumers within 5,000 km.
• Proximity to the huge markets of China and India.
Top pick for foreign investments
EXPATS
• A globally recognized business friendly nation.
• Ranked 16th in the ability to attract foreign highly-skilled
personnel with a welcoming business environment.
• Top-of-mind choice for Fortune 500 companies,
e.g. Exxon Mobil (energy), Dow (chemical), GE (electronics),
Toyota (automotive).
ASEAN total exports worth 42 trillion baht
ASEAN population 662M
Strong policyand trade agreement support
BOI
• Full government support on investments.
• Comprehensive infrastructure to support exports,
e.g. aerial, land and maritime connectivity, border/special
economic zones, 13 free trade agreements (FTAs).

4. Product from Thailand
Agricultural Products
Food Products World’s kitchen
Services
• World Leading Rice Exporter
• No. 1 Tapioca Exporter Globally
• No. 1 Natural Rubber Exporter Globally
• No. 1 Canned Pineapple Exporter
• No. 1 Canned Tuna Exporter
• World Leading White Shrimp Exporter
• No. 2 Sugar Exporter
• No. 4 Poultry Exporter
• World Class Medical
Services
• Medical Tourism
• World Tourism
Destination
• Thai Food / Thai
Restaurants / Thai Spa-
Massage
• Trading
Industrial Products
• Electronics :No. 1 Hard-Disk
Drive Exporter
• Electronic Appliance
Products
(Refrigerators, Air-Condition)
• Automobile & Parts

5. 5
Main Electronic Product Exports
1. HDD: $11,596.75 Million
2. Integrated Circuits: $7,569.48 Million
3. Air Conditioner: $5,724.62 Million
Main Automotive Product Exports
1. Parts & Accessories: $25,910.62 Million
2. Motor Cars: $9,604.75 Million
3. Pick-up, Buses, Trucks: $7,303.73 Million
Main Food Product Exports
1. Fresh Frozen & Dried Fruits: $5,397.13 Million
2. Tapioca Products: $3,511.94 Million
3. Rice: $3,094.41 Million
5
Thailand’s Top 10 Exported Products
Sources: Ministry of Commerce Trade Report Note: Exchange Rate 1 USD = 35.474(As of 22 June 2022)
In 2021 (unit: USD million)
Automotives
25,910.62
Rubber Products
12,804.31
Computer & Parts
19,590.22
Plastic Resins
9,999.75
Stone & Jewelry
8,961.17
Circuit Boards
7,569.48
Machinery
7,249.65
Chemical Products
8791.68
Refined Oil
7,903.13
Metal Products
6,135.47

6. 6
Demand Drivers for Advanced Materials and Polymers
Automotive
Electronics
Food Packaging
The manufacture of automobiles will require specialized
materials which are suitable for production. Properties
such as sturdiness and light-weighted will be important
for these industries.
Electronic products will require materials that can last for a
long period of time as well as potentially being light-weighted
for example mobile phones which are integrated into people’s
daily lives.
The advanced materials and polymer industry are also
crucial in the food packaging industry where materials
that are environmentally friendly as well as capable of
packaging food safely will be demanded.
6

7. 7
Krungsri Research
ASEAN market will grow significantly, with plans
of heavy government investments in infrastructures and
Thailand will have access to domestically sourced natural
gases.
Future demands of advanced materials in high-tech industries
such as aerospace and future automobiles.
Strong but light materials will be essential in the production of
these vehicles.
7
Opportunities in Advanced Materials and Polymers
With increasing health and environmental
concerns, demands for biopolymers and other bio-plastics
will rise. The government will encourage these types of
materials to reduce the environmental impact.
Advanced materials will be crucial in many industries such as
medical devices – respirators and ventilators for instance, will
require specific high-quality products.

8. Thailand, the strategic location for bio-product exports
Sources: on plastic institute, EEC, BOI, companies’ websites, Bioinnovationlinkage OIE
26
62
107
131
149
2017 2018 2019 2020 2021
Bioplastic Export
(in Million USD)
Important destination
countries
China
USD 87 Million
United States
USD 77 Million
Netherlands
USD 75 Million
Indonesia
USD 35 Million
Malaysia
USD 28 Million
Note: Exchange Rate 1 USD = 34.168 Thai Baht (as of 30/05/22)
8

9. Advanced Materials and Polymers Investments Made To BOI
Sources: International Affairs Bureau, BOI as of 20/1/2022
Value of Advanced Materials and Polymers Projects Applied to BOI Classified by Activities
Unit: USD million
Advanced Materials and Polymers
Activities
2018 2019 2020 2021
2022
Q1
2018-
2022Q1
Manufacture of Advanced or
Nano Materials - 152 23 30 49 254
Manufacture of Special Quality Glass
Products - 0.4 5 - - 5
Manufacture of Eco-Friendly Chemicals
or Polymers 14 55 257 744 - 1,070
Manufacture of Specialty Polymers and
Specialty Chemicals 86 690 99 55 - 930
Plastic products for Industrial Goods
119 134 80 122 17 472
Manufacture of Multilayer Plastic
Packaging 123 99 109 6 51 388
Aseptic Plastic Packaging
18 21 4 4 - 47
Manufacture of Recycled Plastic Pellets
20 3 10 15 3 51
Activities with the Highest No. Investment Projects
Plastic Products for
Industrial Goods
151 projects
Multilayer Plastic
Packaging
33 projects
Specialty Polymers
and Chemicals
19 projects
Activities with Highest Investment Value
Eco-friendly
Chemicals or
Polymers
$1,070 million
Specialty
Polymers and
Chemicals
$930 million
Plastic Products for
Industrial Goods
$472 million
Note: 1) Weighted average interbank exchange rate by BOT at 34.168 Baht/ USD(24/05/22)
9

10. Projects Approved and Support by BOI
= No. of projects promoted by the BOI
$380.14
$1,153.77
$585.58
$975.76
$118.91
2018 2019 2020 2021 2022Q1*
= Total Value of Foreign Investment Projects Approved by the BOI, in USD millions
54
Advanced Materials and Polymers Projects Promoted by BOI
Sources: BOI
Note: 1) Weighted average interbank exchange rate by BOT at 34.168 Baht/ USD(30/05/22)
66
54
69
14
Note*: 2022Q 1 refers to the first quarter of the year comprising January, February, March of 2022 10

11. Home to world’s leading chemical & plastic producers
Sources: Plastic institute, EEC, BOI, companies’ websites
SUPPORTING ASSOCIATIONS AND INSTITUTIONS
Plastics Institute of
Thailand
The Bioplastics Industry
Association
National Innovation
Agency
Thailand Center of
Excellence for Life
Science
National Center for Genetic
Engineering and
Biotechnology
National Science and
Technology Development
Agency
BIOPLASTIC RESIN &
COMPOUND/CONVERTER
BIOCHEMICAL
Thailand’s
Bio Hub
20 bioplastic
manufacturers
>2,000 plastic
manufacturers
11

12. 12
Market Access
https://www.interplasthailand.com/
https://www.propakasia.com/ppka/2022/en/index.asp

13. Exemption of import duty on
raw material imported for use
in production for export
Exemption of import duty on
machinery used in IPO project
TAX INCENTIVES NON-TAX INCENTIVES
INCENTIVES
7.37 International Procurement Office
Source: BOI: INTERNATIONAL PROCUREMENT OFFICE : IPO
100% foreign shareholding
Right to own land
VISA and Work permit
13
Condition : Paid-up registered capital must not be less than 10 million THB

14. Sources: BOI
14
Introduction to Thailand Board Of Investment
Business Support
Services for
Investors:
incentives, sourcing,
and SMEs'
competitiveness
development
Information and
advice on
establishing
operations in
Thailand
Coordinate
between the foreign
business
community and
other public
agencies
About BOI
OVERSEAS OFFICES
BOI Investment Promotion Measures
Policy
Tax
Incentives
Non-tax
Incentives
• 100% foreign ownership
• No local content requirements
• No export requirements
• No restriction on foreign currency
• Exemption of import duties on machinery
• Exemption of import duties on raw or essential
materials imported for export
• Exemption of import duties on goods imported
for R&D
• Corporate income tax exemption up to 13 years
• 50% CIT reduction 5 years
• Land ownership
• Work permit & visa
facilitation
14

15. Incentives under The Investment Promotion Act
In order to obtain investment promotion, the BOI applicant must follow the conditions prescribed by BOI as specified in the
BOI promotion certificate in which the following incentives will be granted
• Corporate income tax (CIT) exemption
• 50% reduction of corporate income tax after
the expiry of tax exemption period
• 50% CIT reduction within 10 years*
• Investment Tax Allowance (ITA)*
• Exemption of import duties on machinery
• Exemption of import duties on raw materials
(used in the manufacture of exports and for
R&D purposes)
* in case of no CIT exemption
Tax Incentives
Non-Tax Incentives

16. BOI Investment Incentive Scheme
STANDARD Incentives
The list of activities eligible for BOI promotion covers a wide range of businesses, not only s-curve industries.
Activity-Based
Technology-Based
≤ 8 years CIT exemption
10 years CIT exemption
Digital
Technology
Advanced Material
Technology
Nano-
Technology
Bio-
Technology Agenda-Based
Area-Based
Merit-Based
• Investment Stimulation Measure
• Productivity Enhancement Measure
• Measures to support Grassroots Economy Development
• EEC 3 provinces
• SEZ 10 provinces
• Southern border provinces
• 20 provinces with lowest income
• Industrial Estates/Zones
• Science and Technology Parks
• (TSP, Food Innopolis, Space Krenovation Park, AIT, TISTR )
• Research & Development (R&D)
• Support academic / research institutes, or technology and human resource development
fund
• IP licensing fee
• Advanced technology training
• Development of local suppliers
• Product and packaging design
+
ADDITIONAL Incentives

17. Research, Technology Development and Innovation:
In-house, outsourced in Thailand or joint R&D with
overseas institutes
Donations to technology and human resource development
funds, educational institutes, specialized training centers,
R&D institutes or government agencies in the S&T field in
Thailand, as approved by the board
Apprenticeship programs for vocational/university
students in Science and Technology field
IP acquisition/ licensing fees for commercializing
technology developed in Thailand
Advanced technology training
Development of local suppliers with at least 51% Thai
shareholding in advanced technology training and
technical assistance
300%
100%
200%
200%
200%
200%
200%
Additional Ceiling
(Percentage of Investment or Expense)
1 year*
≥ 1% or ≥ 200 million baht,
whichever lower
2 years*
≥ 2% or ≥ 400 million baht,
whichever lower
3 years*
≥ 3% or ≥ 600 million baht,
whichever lower
Additional CIT Exemption
(with additional cap)
Enhanced Incentive Packages for Merit-Based Incentives
1% or < 200 million baht,
whichever lower
Additional CIT
Exemption Cap Only
Including donations to vaccine/
drug development programs
Maximum
CIT exemption period
11 years
Product and packaging design: In-house or
outsourced in Thailand, as approved by the Board
(Merit for Competitiveness Enhancement)
**with no minimum spending required**
Investment/ expenses of
total sales of the first 3 years or
minimum investment
whichever lower

18. 1 year*
2 years*
3 years*
4 years*
5 years*
1% or ≥ 200 million baht, whichever lower
2% or ≥ 400 million baht, whichever lower
3% or ≥ 600 million baht, whichever lower
4% or ≥ 800 million baht, whichever lower
5% or ≥ 1,00 million baht, whichever lower
Additional CIT Exemption
On top of a standard
package
R&D Investment/ Expenses to total sales
In the first 3 years or minimum
No CIT Exemption
Ceiling
Maximum CIT exemption
period
13 years
Enhanced Incentives for R&D
*Any BOI-promoted projects with R&D mandatory are required for additional investment so as to receive merit-based incentives
In case of additional investment in R&D only

19. Investment Incentives for Polymers and Advanced Materials
Activities Group CIT
Exemption
Exemption of
import dutieson
machinery
Exemption of import
duties on raw materials
used in exported
products
Non-tax
incentives
Manufacture of specialty
polymers or special chemicals
including related products under
the same project
A2
8 years
CIT exemption
✓ ✓ ✓
Manufacture of eco-friendly
chemicals or polymers or products
from eco-friendly polymers
A2
8 years
CIT exemption
✓ ✓ ✓
Manufacture of advanced or nano
materials or products produced from
advanced or nano materials A2 & A3
5 - 8 years
CIT exemption ✓ ✓ ✓
Manufacture of recycled plastic
pellets including related
products under the same project
A2 & A4
3 - 8 years
CIT exemption
✓ ✓ ✓
Manufacture of Special Quality Glass
Products
A3
5 years
CIT exemption
✓ ✓ ✓

20. Investment Incentives for Polymers and Advanced Materials
Activities Group CIT
Exemption
Exemption of
import dutieson
machinery
Exemption of import
duties on raw materials
used in exported
products
Non-tax
incentives
Aseptic plastic packaging
A3
5 years
CIT exemption
✓ ✓ ✓
Manufacture of multilayer
plastic packaging
A3 & A4
3 - 5 years
CIT exemption ✓ ✓ ✓
Plastic products from
Industrial Goods
B1
Not Available for
CIT exemption
✓ ✓ ✓
Manufacture of Ceramic
Products (except
earthenware and ceramic
tiles)
B1 Not Available for
CIT exemption
✓ ✓ ✓
Manufacture of Glass Products
B1
Not Available for
CIT exemption
✓ ✓ ✓

21. Tax Incentives Scheme under New EEC Packages
Industrial Estates or Zones
EECa, EECi*, EECd, EECmd,EECg
Human Resource in S&T
Development Criteria
Location Criteria
Conditions for Additional CIT Incentives
Target Activities
• Projects located in EECi in an approved Science and Technology Park are eligible for additional incentives under the
measure. In such a case, the projects must relocate to EECi by 30th December 2022.
* Targeted activities located in a Science and Technology Park in EECi such as electronics design, research and
development, target technology development are eligible for additional incentives as a promoted Science and
Technology zone (+ 5-year 50% CIT reduction or 2-year CIT exemption)
Note:
Extension of the incentive packages to the end of the year 2022
Section 8+Supporting Activities
(10-year CIT exemption)
A1/ A2
(8-year CIT exemption)
A3
(5-year CIT exemption)
+3-year 50% CIT reduction +2-year 50% CIT reduction + 1-year CIT exemption
+2-year CIT exemption +1-year CIT exemption + 1-year CIT exemption
+3-year 50% CIT reduction + 2-year 50% CIT reduction -

22. Investment Acceleration Measures for the year 2022
Submission of applications within the last working day of the year 2022
• Must be project eligible for CIT exemption of 5-8 years
• Actual Investment (excluding cost of land and working capital) must not be less than
THB 1 billion within 12 months starting from the issuance of BOI certificate.
• Must submit evidences of actual investment within 18 months starting from the
issuance of BOI certificate
• Extension of the acceptance of BOI approval and the issuance of BOI certificate periods
is not permitted.
Condition
Top-up Incentives:
5
years
CIT Reduction
In addition to
the standard benefits
for

23. STEM One-Stop Service: STEM OSS
https://www.stemplus.or.th
SCAN ME
• oss@stemplus.or.th
• stemplatform@nxpo.or.th
STEM OSS will coordinate the connection between companies/ enterprises and educational institutions to facilitate
manpower development and acquisition through different packages
STEM Job matching (using STEM OSS job matching online platform)
Manpower Co-creation Program
For companies/ enterprises that are ready to jointly establish specialized training centers with educational institutions.
For development of skills and competency of the workforce in that industry, where the trainees can be either students or employees.
P-1
P-2
P-3
o Upskill/ Reskill through short courses for companies’ staff or students (P-2.1)
o Co-creation program (P-2.2)
o Education that differs from higher education standards (Sandbox) (P-2.3)
• Cooperative Education (P-2.2.1)
• Concurrent work and research (full-time) (P-2.2.2)
- Cooperative and Work Integrated Education (CWIE)
- Work-Integrated Learning (WiL)
- Higher Education for Industry Consortium (Hi-FI Consortium): 1-2 year (problem > advisor > student)
- Total Innovation Management Enterprise (TIME): 2 years (student > problem > advisor )
Industrial Training Center (ITC) Establishment
Contact email

24. 24
High Skill Workforce Development Platform
The agreement signing ceremony was held on 26 October 2021
Impact:
o High performance manpower > 20,000 persons/year, Support investment > 70,000 million bath/year
o Increase productivity of workforce by 10% for higher education workforce. (～500,000 persons/year)
BOI-promoted
enterprises
identify
workforce
demands
The Council of Engineering
Dean of Thailand and The
Council of Science Dean of
Thailand
(66 higher education institutions)
STEM OSS
Manpower Development
Platform
1. Upskill & Reskill
2. Co-creation (CWIE/
Sandbox)
3. Industrial Training
Center (ITC)
Supports the targeted industries
such as BCG, 12 S-Curve
High-performance
Engineers and Scientists
Engineer
10,000
Persons/Year
Scientist
10,000
Persons/Year

25. 25
Training Grants
Defense
HRD
Aviation&
Logistics
Circular
Economy
Auto &
Robotics
Next-Gen
Automotive
Digital
Economy
Food for the
Future
Med &
Wellness
Tourism
Smart
Electronics
Biofuels &
Biochem
Medical
Hub
Agro &
Biotech
Targeted Industries
Condition:
o Must be the skills development courses for Thai employees
o Training courses are
• Advanced Technology Skills Development Courses which approved by MHESI (Ministry of Higher Education,
Science, Research and Innovation)
• The proposed HRD Expenses are not supported by other agencies/ measures under the same project.
- Financial Support -
Type of Training: External Type of Training: In-house
of Training expenses
costed by external
training providers*
50%
≤ of Training
Expenses*
50%
≤
o Training must be completed within 2 years
o ≤ 100,000 baht/ employee
o ≤ 5 million baht/company
1 2 3
Vocational
qualification or
higher
The training participants must not be less than 10%
of the total number of employees or at least 30
employees.
Remarks: *Lists of expenses & criteria stated by BOI

26. SMART VISA
Taking Thailand to New Heights with Foreign Talent and Technology
Maximum 4 years Visa
*Except Smart S
Permission to work
with no work permits
required
Fast Track Service at
International Airports
No re-entry
required
Privileges for SMART Visa

26

27. One Start One Stop Investment Center (OSOS)
BOI have a One Start, One Stop Investment Center which help to speed the process for investors for submitting application, contacting with related agencies,
Smart Visa and work permits within 3 hours. The OSOS is located in the center of Bangkok Central Business District.
Provides comprehensive information
and advice on establishing operation
in Thailand
1-Stop for visas & work
permits In 3 hours
Consolidating staff from numerous
investment-related agencies
Provides useful contacts
with key public and private
organizations
Assist investors with
various applications
Easing & speeding procedures
for new investors
18th Floor, Chamchuri Square
Building, 319 Phayathai Road,
Pathumwan
Bangkok 10330, Thailand
Tel: 66(0)2 209 1100
Fax: 66(0)2 209 1199
Email: osos@boi.go.th
More Convenience, Less Time
More Efficiency!
Contact us
27

28. www.boi.go.th
Think Resilience,
Think Thailand
Thank
You
Thailand (Head Office)
555 Vibhavadi-Rangsit Road.,
Chatuchak, Bangkok 10900, Thailand
Tel. +66 2553 8111
Email. head@boi.go.th

29. 29
Key Industries in Thailand
The Food Industry has a combined value
of over $25 billion (5.7% of Thailand’s
GDP)
Outlook of
Thailand Key
Industries
Thailand is the largest automobile
manufacturer in ASEAN
Thailand ranked 5th globally for
medical tourism with a value of $1.4
billion in market size in 2021.
The digital industry is extremely
large in Thailand, with over 75%
engaging in some form of social
media.
Thailand is one of the world’s
leading producers of medical device
latex products such as surgical
gloves and catheters
The value of E&E Exports was
approximately $61.2 billion in 2021
The agriculture sector employs over
30% of the country’s population
Biochemical is one of the fastest-
growing industries with triple-digit
growth

30. 30
30
Polymers and Advanced Materials: Global Warming
Sources: Worldbank
When plastic wastes are not
managed correctly, they
generate greenhouse gas.
In South Asia, they are
discarded into the ocean and
emit harmful gases.
Plastic is derived from fossil
fuels which is one of the
main causes of global
warming. 6% of global oil
consumption is attributed to
plastics.
South Asia generates a lot of
plastic wastes, over 26 million
tons are dumped and only
roughly 9% are recycled
globally.
Wastes are often not treated
properly and combustion is a
common method of
removing wastes in South
Asia causing the release of
serious air pollution.
Polymers and
Advanced
Materials

31. 31
Polymer Supply Chain
Source: Krungsri Research
Natural Gas
Condensate
Oil
Gas
Separation
Refinery
NGL
LPG
Ethane
Propane
LPG
Gasoline
Kerosene
Diesel
Gasoil
Bitumen
Naphtha
Reformate
Cracker
Aromatic
Plant
Ethylene
Propylene
Butadiene
Benzene
Toluene
Xylene
Acrylonitrile
Vinyl
Chloride
Styrene
Cumene
Phenol
EPA
PTA
HDPE
LDPE
LLDPE
PVC
PP
BR
SBR
ABS
PS
EPS
Polycarbonate
Polyester/
PET
HDPE = High-density Polymer
LDPE = Low-density Polymer
LLDPE = Linear Low-density Polymer
PVC = Polyvinyl Chloride
PP = Polypropylene
BR = Butadiene Rubber
SBR = Styrene-butadiene rubber
ABS = Acrylonitrile Butadiene Styrene
PS = Polystyrene
EPS = Expanded Polystyrene
PET = Polyethylene terephthalate