Investing in Thailand

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Why investing in Thailand?

Facts*

As a gateway to Southeast Asia and as one of the top tourism destinations in the world, Thailand attracts each year many investors. There are numerous reasons behind the country’s striving economy, which has an estimated GDP of almost $540 billion USD:

1) Thailand is one of the founding members of the Association of Southeast Asian Nations (ASEAN) established in 1967 in Bangkok and that aims at accelerating the economic growth, social progress and cultural development in the region**.

2) Thailand is a multicultural and foreign friendly country. Among the many people living in Thailand and who came from neighboring nations such as India, China, Indonesia, Singapore and Malaysia, you are sure to meet among the large expat community, Japanese, Chinese, American, Australian, British, Irish and French…

3) Thailand benefits from very modern infrastructures. Bangkok’s SkyTrain known as BTS*** is currently celebrating its 11^th anniversary and the city’s metro, MRT opened in 2004. Fast, air-conditioned, cleaned and secured, new stations should be opening soon to get you where you need to go. The country’s highway network spans over 60,000 kilometers across all regions and currently, Thailand has 4,000 kilometers of railway lines connecting 42 provinces. With its brand new international airport Suvarnabhumi, Bangkok is a major hub for all of Southeast Asia, with direct flights from and to Europe and the US.

4) According to the "World Bank’s 2010 Ease of Doing Business" report, Thailand is the 16th easiest country in the world in which to do business****. The country also benefits from strong government support and incentives toward investors through “a range of tax incentives, support services and import duty exemptions or reductions to an extensive list of promoted activities. Companies receiving investment promotion privileges from the Board of Investment are not subject to foreign equity restrictions in the manufacturing sector, and there are no local content requirements nor export requirements, as Thailand's investment regime is in total compliance with WTO regulations. The Board of Investment also coordinates the activity of the One-Stop Service Center for Visas and Work Permits, which enables foreign staff of BOI-promoted companies to obtain work permits and long-term visas within three hours or less. The BOI also administers the One Start One Stop Investment Center, which opened in November 2009 to facilitate a full range of services and streamline investment procedures by bringing representatives from more than 20 government agencies under one roof. In addition to the activities of the BOI, other government organizations, such as the Department of Export Promotion and international chambers of commerce, provide invaluable support and a host of other important services.” Thailand is currently promoting investment for the following six industries: agriculture and agro-industry, alternative energy, automotive, electronics and ICT, fashion, and value-added services including entertainment, healthcare and tourism*****.

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Sources:

* Facts: CIA World Factbook

** To date, there are 10 ASEAN members : Thailand, Indonesia, Malaysia, Philippines, Singapore, Brunei Darussalam, Viet Nam, Lao PDR, Myanmar and Cambodia. For more information on the ASEAN: http://www.aseansec.org

*** BTS: http://www.bts.co.th/en/index.asp

**** Doing Business In Thailand: http://www.doingbusiness.org/data/exploreeconomies/thailand

***** Thailand Board of Investment: http://www.boi.go.th/english/why/thailand_advantages.asp

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Disclaimer: Information and data as of November 2010, not binding and likely to be modified without prior notice. Please see a licensed and certified professional and seek legal counseling should you wish to invest in Thailand.