BANGKOK, March 28 (Xinhua) -- Thailand's Board of Investment (BOI) on Thursday announced a tax waiver for organizers of large international concerts, sporting events, and festivals in an effort to attract big events and strengthen the country's status as a tourism hub.

The BOI will offer benefits to organizers of qualifying events, requiring an investment or expenses of at least 100 million baht (2.74 million U.S. dollars), with exemption from import duties on equipment and streamlined procedures for temporary visas granted to required foreign staff, it said in a statement.

By unlocking tax and regulatory issues, the approved measures will facilitate the production of world-class events, significantly reducing costs, lead time, and obstacles for organizers, said BOI Secretary General Narit Therdsteerasukdi.

These efforts will contribute to the next stage of Thailand's tourism sector development, a vital economic driver accounting for about 20 percent of the country's gross domestic product, he added. Enditem

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