THAILAND IS
CONNECTED
Distinguished by its abundant resources and prime geographical location, Thailand has always stood at the heart of ASEAN.
Now more than ever, Thailand has become a dynamic gateway to Asia too – the world’s fastest-growing economic region, with one of the youngest and largest workforces on Earth.
FREE TRADE AGREEMENTS
Businesses in Thailand can reap the rewards of free-trade agreements with 17 different nations.
Bilateral free-trade agreements (FTA) with India, Japan, New Zealand, Australia, Chile and Peru, as well as the other 10 ASEAN states, open up a range of opportunities across Asia-Pacific.
A KEY LINK IN THE GLOBAL SUPPLY CHAIN
Thailand has historically been a vital supply chain provider and trade partner for much of the globe, including North America, Europe, China and Japan.
BILLION
Thailand remains one of the world's largest exporters. In 2017, the country recorded promising export growth of 6.8 percent, with a total export value worth USD 235.1 billion.
Thailand also ranked 2nd in the world in hard-disk drive exports, 5th in rubber tyre exports, 6th in computer device exports, and 12th in automotive production in 2016.
MILLION
Now, ‘Thailand 4.0’ policies are improving production capacity. The Industrial Estate Authority of Thailand has invested USD 63 million in a new Smart Park at Map Ta Phut, which will accommodate emerging industries, such as aerospace, automation and robotics, digital economy, and medical hub.
INVESTING IN INFRASTRUCTURE
Major investments in infrastructure will reduce logistics and transportation costs, solidifying Thailand’s reputation as one of Asia’s leading investment destinations.
Well-Equipped Industrial Estates
Thailand currently has more than 70 industrial estates across the country, offering more than 256 million square metres of cumulative supply.
The Financial Times named the Industrial Estate of Thailand the world’s 12th best economic zone in 2012, citing eight factors, including facilities, incentives and cost effectiveness.
BILLION
Inter-city Connectivity
Expansion of inter-city railways will improve transportation between Bangkok, the industrial estates and the Eastern Economic Corridor (EEC).
A USD 14.86 billion project will expand double-track railways and build 1.435-metre standard-gauge tracks – the international gauge.
Road projects will expand all highways to four or more traffic lanes and develop key facilities along major roads, such as container yards.
Port Upgrades
A USD 3 billion project will expand port capacity in the EEC. This includes a cruise ship port in Sattahip as well as expansions to major shipping ports in Laem Chabang and Map Ta Phut.
Improved Airport Capacity
Upgrades to Bangkok’s international airports, Don Muang and Suvarnabhumi, are underway. When completed, Suvarnabhumi’s annual passenger capacity will increase to 120 million.
U-Tapao Rayong-Pattaya International Airport will increase capacity to 5 million passengers by 2022, with a goal of 60 million by 2032. The airport will also get a second runway and redesign.
Mass Transit Upgrades in Bangkok
Bangkok Metropolitan Administration (BMA) plans to increase the city’s existing mass rapid transit network from 100 kilometres of tracks to 500 kilometres over the next ten years.
THAILAND IS COMPETITIVE
With a labour force of over 38 million, strong governmental support and ASEAN’s second-largest economy, Thailand remains an attractive destination for savvy investors.
A PROMISING HOST ECONOMY
Thailand has demonstrated remarkable economic progress, recording a 21 percent growth in foreign direct investment inflows, a remarkable accomplishment when compared to the global average of 0.7 percent over the same period.
A recent Bloomberg poll ranked Thailand 11th on its list of the world’s most promising emerging economies.
CONTINUED GROWTH IN EXPORTS
Thanks to an increase in exports and a booming tourism industry that attracts over 30 million visitors per year, Thailand hit a record current-account surplus of USD 48.2 billion in 2017.
Thailand’s Commerce Ministry forecasts growth too, projecting the total export value in 2018 to reach USD250 billion.
LOWER COSTS, BETTER LIFESTYLE
Thailand offers foreign investors a number of noteworthy incentives, from a 20 percent corporate income tax to the most affordable prime quality office space in Asia-Pacific.
Affordable Prime Quality Office Space
Bangkok offers some of the cheapest Grade A office space in the world. Property firm CBRE ranked Bangkok 109th out of 126 major cities surveyed. In 2016, the average Grade A rent came in at roughly USD 30 per square metre per month – about one-tenth the cost of rent in Hong Kong, the world’s most expensive market.
High Quality of Life, Low Cost of Living
In 2016, HSBC ranked Thailand 10th in the world in expat experience and Mastercard named Bangkok the top destination city for international overnight visitors. Bangkok ranked 67th out of 209 cities surveyed for the Mercer Cost of Living Rankings in 2017.
THAILAND IS
UP-AND-COMING
The World Economic Forum in 2016 ranked Thailand number one on its Best Countries to Start a Business list, while also ranking Thailand in the top ten Best Countries to Invest In and number one on the Millennial Pick: Best Countries for Economic Potential lists.
Thailand is a very good place for investment. It has a strong interest for aerospace and the market is open and very diverse. There is a good range of incentives provided by the BOI, strong support from the government, great universities, high-skilled people – it makes sense to be here.
When a company is transforming like ours, we need to be local and innovate. That’s a key to be ahead of the competition. Thailand is definitely moving into the right direction with the launching of the EEC and Thailand 4.0, where we can invest, and where we can develop, and where we can innovate.
DOING BUSINESS IN THAILAND JUST GOT 6X EASIER
Thailand climbed to number 26 on the World Bank’s most recent Doing Business database, which measures business regulations and ranks 190 economies on their ease of doing business.
According to the report, in 2017 Thailand was one of the 10 most-improved economies in the world in ease of doing business.
Thailand enacted eight significant reforms in 2017 – a single-year record for the country – including:
Thailand abolished a rule that required a company to obtain a corporate seal before it could form, and eliminated the need for the Labor Department to approve company work regulations.
Now it takes only four and a half days to start a business – down from 27 and a half days.
Thailand’s Eastern Economic Corridor can offer new and attractive opportunities for your business
