According to local media, the cabinet has approved a proposal for the ministry to work with the Investment and Finance Ministry to study tax incentives and other privileges for foreign films shooting in Thailand.
'The privileges to be offered would be competitive and on par with those currently offered by various countries in the region such as South Korea, New Zealand, Singapore, Malaysia and Vietnam,' said Thai Tourism and Sports Minister Weerasak Kohsurat.
Wanasiri Morakul, director of the Thailand Film Office, said that incentives under consideration include tax refunds for spending a certain amount on production in Thailand, and tax exemptions for productions that have at least 70% of their work done by Thai studios or production houses.
She also said the authorities would seek bilateral agreements with other countries to provide more tax incentives for international shoots. A tax-free industrial park for film production is also under consideration.
Thailand is currently hosting The Weinstein Company's Shanghai , starring Gong Li and John Cusack, while Hyde Park Entertainment's Street Fighter, which Twentieth Century Fox is distributing in the US, recently filmed in Bangkok. Chasing The Dragon, starring Wesley Snipes, is expected to shoot in Thailand later this year.
The country also attracts a large number of Asian shoots. The Pang Brothers, who filmed Bangkok Dangerous with Nicholas Cage in Thailand two years ago, recently wrapped Hong Kong martial arts epic The Storm Warriors in the country. An increasing number of Indian productions are also heading to Thailand.