Bangkok--Feb 22--Francom Asia
Volvo Car (Thailand) has announced that its Thai Swedish Assembly (TSA) plant in Bangna has been granted Free Zone status by the Customs Department, and with it becomes the first operator in Thailand through this Government initiative. Volvo’s Free Zone marks an advancement in Thailand’s domestic car part manufacturing industry, and is in-line with the government’s goal to boost investment, competitiveness, employment as well as in becoming the Detroit of Asia.
Mr. Robert Norrman, President of Volvo Car (Thailand) commented, “Volvo is proud to become the first operator of Free Zone in Thailand. Initiatives such as this not only help support the local economy in terms of increased foreign investment and employment but also directly benefit local suppliers and associated industries because of the additional incentives for using locally-manufactured parts.”
Volvo’s TSA plant which has been declared a Free Zone in Bangna was constructed under the stringent guidelines as posed by the Custom Department. The Checking Posts have entrance — exit channels that are each at least 3 meters long in combination with an effective and state-of-the-art IT system. It is crucial in presenting important information necessary for tax calculation and important to the Electronic Data Interchange system. In addition, it also enables all information to be stored in its most perfect condition, making it ready for inspection at any time.
The Free Zone
The Free Zone is an area designated for industrial, commercial or other businesses that will benefit the country’s economy, where the products brought into the zone will be subjected to certain privileges as stated by the law.
For more ‘media information’ please contact:
Mr. James Ward / Ms. Siriwan Kamonwichian
Volvo Car (Thailand) Press Information Service
c/o Francom Asia
Tel: 02 233-4329/30, 02 233-4338/39
Fax: 02 236-8030
E-mail: [email protected]
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