Venture to Thailand with IE Singapore

Thailand

Resilient economy

Thailand has a resilient economy with strong fundamentals, including low inflation rates of under 5% for most of the last decade1. Its well-developed transportation system, infrastructure and communications network support many growth sectors such as tourism, the automotive industry and food manufacturing. With a large population of 68 million, rising consumerism and a qualified and skilled workforce, Thailand is an ideal destination for Singapore firms.

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Investment incentives

The Board of Investment of Thailand (BOI) recently announced the country’s new seven-year investment promotion strategy. From 2015, incentives for FDI will focus on research and development, innovation and value-creating investment that enhances national competitiveness. More than 230 activities across seven sectors will be supported.

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Hub for Indochina

Thailand is the second largest economy in Southeast Asia. Centrally located in Indochina (encompassing the CLMV countries of Cambodia, Laos, Myanmar and Vietnam), it has historically played a leading role in this region. Within Southeast Asia, Thai businesses are also the most integrated with the CLMV economies, making Thailand the ideal gateway to these markets.

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Venture to Thailand

Foreign Business Act

The Foreign Business Act (FBA) regulates the activities which foreign companies may engage in. Generally, foreigners cannot engage in businesses that impact national safety and security, arts and local customs or the environment. For businesses in sectors deemed unprepared for foreign competition (List 3), a Foreign Business Licence is required.

Find out more here.

Investment privileges

Under a seven-year investment promotion strategy (2015-2021), the following industries enjoy investment incentives:

  1. Agriculture and Agricultural Products
  2. Mining, Ceramics and Basic Metals
  3. Light Industry
  4. Metal Products, Machinery and Transport Equipment
  5. Electronic Industry and Electric Appliances
  6. Chemicals, Paper and Plastics
  7. Services and Public Utilities

Find out more here.

 

1: World Bank

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Useful Links

FAQs on doing business in Southeast Asia

Find the answers to all your questions on industries with the most potential, navigating potential pitfalls, leveraging government support and more.

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The Trump effect on doing business in Southeast Asia

Ivan Tan, our Group Director for Southeast Asia explains what the new US administration under Trump means for Singapore companies looking to invest in Southeast Asia.

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ASEAN Webinar: Opportunities for you in Southeast Asia

Click here to watch the highlights.

  

 

Interview with The Business Times

Ivan Tan, our Group Director for Southeast Asia speaks to The Business Times on why Southeast Asia’s strong demand for infrastructure and consumer goods and services will continue driving the region’s growth.

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ASEAN still beckons

A growing middle class, increasing integration and strong ties to China’s growth engine are set to fuel growth in the region. Our Group Director for Southeast Asia shares why “ASEAN still beckons".

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Go Global today

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Geography:

76 provinces, 2 Special Governed Districts (Bangkok and Pattaya)

Population: 68.4 million (est. July 2017)

Ease of Doing Business Ranking: 26th (June 2017)

Economic Freedom Ranking: 55th (2017)

Trading Partner Ranking: 7th

Bilateral Trade: S$28.97 billion (2016)

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Thailand

Geography:

Capital of Thailand with 50 Districts

Population: 9.27 million

Source: CIA World Factbook, 2015
Thailand-Bangkok