Globe leader in motorcycle taxi, World Moto, establish R&D center & gets BOI priviledge

Thailand’s motorcycle taxis are famous, even the famous Popular Mechanics Magazine recently wrote an article about it. Today, listed, World Moto, Inc. a global leader of the motorcycle taxi, has received Thailand’s National Science and Development Agency (NSTDA), a division of the Thai Science Ministry, to establish an R&D center at Thailand Science Park. The approval grants World Moto the right to locate its research and development offices in the country’s most exclusive R&D facility. In addition to government subsidized low rent office space, the admission qualifies World Moto to apply for low interest loans on research and development projects with values of up to 30 million baht ($1.03 million USD). R&D activities inside TSP also qualify for a 200% deduction on income taxes from the Thailand Revenue Department. Located on 80 acres inside Thammasat University, TSP is the most exclusive innovation hub in Thailand, with an 80 acre campus hosting 260,000 sq. meters of built up area, and nearly 3,000 full time researchers and engineers among the companies in residence. The TSP campus gives World Moto access to the country’s best talent and most advanced technology infrastructure, as well as a private convention center and movie theater for training and demonstrations of World Moto’s technology to its growing list of potential distributors. World Moto began its office relocation on April 16, and officially recorded its change of location on April 30. Concurrently, World Moto has received final approval from the Thailand Board of Investment on its application for promotion. The terms grant World Moto 8 years of 0% corporate income taxes, followed by a 5 year period of 50% income tax relief. In addition, customs duties are waived for most imported equipment, and visa requirements for hiring foreign engineering talent are dramatically reduced (Source).

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s