Thailand: ASEAN aviation tire production center
Thailand Investment Committee (BOI) announced in 2016, more than $312 million from Bridgestone Corp, Goodyear Thailand company investment will enable the country to become ASEAN aviation tire production center.
These investments include: Bridgestone Corp will build two new plants in Thailand. A factory produces new aviation tires, and second plants will produce refurbished tires. Total investment of about 15 billion JPY ($150 million), the two new plants will be put into operation in December 2019.
Goodyear Thailand company plans to invest $162 million to build a new radial aircraft tire factory, is located to the north of Bangkok and expand its Phathumthani factory production, to meet the growing demand in Asia Pacific region, the first phase of expansion will be opened in 2018.
BOI has issued a series of tax and non tax preferential policies, the goal is to create the best industrial ecosystem, to ensure that foreign aircraft tire production company to achieve greater success. For example, with the production of natural rubber and tire production related projects can be up to 8 years of corporate income tax relief. Non tax concessions include free machine import tax, import tax on raw materials for the production of export products, etc..