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By APD writer Chen Jiabao
**BANGKOK, Jan.20 (APD) ** -- The Thailand Board of Investment (BOI) is confident that the newly launched “SMART Visa” will
make it easier for expatriates, foreign experts and investors to work and invest in Thailand long-term.
Duangjai Asawachintachit, BOI’s Secretary General, said on Thursday that the visa plan will encourage more investment in technology- and knowledge-based industries, which have seen high growth rate in the past two years.
“In 2016, investment value in the targeted industries was approximately 299 billion baht and increased to 392 billion baht in 2017. BOI anticipated that investment from targeted industries will exceed 400 billion baht in 2018.” she said.
"In recent years, the Thai government has improved its services, resulting in the improvement of the country’s ranking in the World Bank’s Ease of Doing Business report from 46th to 26th. The SMART Visa will increase convenience in facilitating investors doing business in Thailand.”she added.
The Smart Visa program received formal approval from the interim cabinet Tuesday. It will start from Feb.1. It's intended to increase knowledge transfer and skill development in desirable fields such as technology and medicine.
Smart Visa holders must earn over 200,000 baht a month in specialized fields including automotives, electronics, medical tourism, agriculture technology, food technology, robotics, aviation, biochem, digital technology and medical services.
They only need to check in annually rather than every 90 days and Smart Visas can be extended for four years rather than a single year at a time. SMART Visa holders' family members will also enjoy similar benefits.
According to the secretary general, the SMART Visa comprises four categories namely talents in science and technology;
investors; executives and startup entrepreneurs.
Applicants will need to have the qualifications required according to pre-set criteria and be certified by the concerned government agencies. They include certification for their expertise or talents, certification of being part of the targeted industries and using technology in the production process or service, as well as certification for participation in startup incubator programs.
The SMART Visa promotes knowledge transfer and skill development, said Duangjai.
"By having these professionals long-term in the country, Thailand can benefit from the transfer of knowledge and the skill development of Thai labor, especially in areas where Thailand lacks specific skill sets and knowledge. The SMART Visa will therefore increase convenience for expats and promote the development of Thai human resource at the same time."she said.
(ASIA PACIFIC DAILY)
