In a massive effort to reboot the country’s tech economy, Thailand is waving income tax and dividend taxes on VC firms for the next ten years, it was reported recently. The Ministry of Science and Technology will simultaneously launch a 500 million baht ($14.2 million) fund of funds for Thai startups.
“The government will be establishing a dedicated asset management firm to manage the fund, which will be directed mainly at technology businesses within the 10 core industries,” said Minister of Science and Technology Pichet Durongkaveroj. The fund of funds (FoF) will apply to some very specific verticals: smart cars, robotics, medical tourism, digital health, agritech, biotech, aviation, biofuels and food.
