Ibadan, 13 May 2024. – mu Space has recently secured two Board of Investment (BOI) approvals from the government of Thailand. These approvals mark a pivotal moment for the company and underscore its commitment to driving innovation and investment in cutting-edge sectors.
The first BOI approval is towards enhancing small satellite systems, which will play a crucial role in various missions such as cloud processing, aerial imaging, and satellite navigation. This move not only positions mu Space as a key player in the space industry but also signifies a significant boost for Thailand’s technological capabilities in the global arena.
Moreover, the BOI approval comes with added benefits in the form of tax reductions on machinery imports, providing mu Space with greater flexibility in budget allocation. Furthermore, the financial incentive will fuel the company’s innovation efforts and facilitate the development of high-quality satellites that meet the demands of an evolving market.
mu Space also received a second BOI approval to develop an Advanced Inference Machine for Oculars (AIMO) products. This initiative reflects the company’s commitment to advancing smart electronics and leveraging emerging technologies to drive growth in this sector. These products hold the potential to transform various industries, enhance Thailand’s competitiveness on the global stage, and provide essential legal support for companies operating in the smart electronics sector.
Overall, mu Space’s receipt of these BOI approvals signals a new era of innovation and growth for the company and the nation. By spearheading advancements in space technology and smart electronics, mu Space aims to push the boundaries of what is possible and pave the way for Thailand to become a leader in these transformative industries.
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