A 2006 survey conducted by the Japan External Trade Organization (JETRO) showed that Thailand was the ?most optimal location for establishing a production/sales base in the coming 5-10 years.?
There are many reasons why Thailand is an intelligent choice for the investor. Below are just a few.
Thailand enjoys a strategic location at the heart of Asia ? home to what is regarded today as the largest growing economic market.
Thailand serves as a gateway to Southeast Asia and the Greater Mekong sub-region, where newly emerging markets offer great business potential. From Thailand, it is convenient to trade with China, India and the countries of the Association of Southeast Asian Nations (ASEAN), which has a cumulative population of more than 500 million
Thailand was one of the founding members of ASEAN and has been instrumental to the formation and development of the ASEAN Free Trade Area (AFTA). As a member of ASEAN, Thailand has forged closer economic cooperation with ASEAN member nations, and Thai manufactured products and services have access to the markets of ASEAN, which includes all 10 ASEAN countries. ASEAN is home to more than half a billion people, GDP in excess of US$700 billion and intra-ASEAN trade of more than US$1 trillion per year.
Thailand is a welcoming Buddhist country. The country's form of government ? constitutional monarchy ? allows democratic processes and reforms, and is balanced by the Thai people's peace-loving nature, high reverence for the Thai Monarchy, and devotion to the teachings of Buddhism. While the vast majority of the people in Thailand are Buddhist, all religions are welcome, and His Majesty the King is the patron of all religions.
Economically, this country of 64 million people is characterized by steady growth. Abundant natural resources and a skilled and cost-effective work force helps attract foreign investment, enables them to prosper and help develop industry in Thailand.
Thailand has good infrastructure for foreign investors. Improved and modernized transportation facilities, as well as upgraded communications and IT networks, ensure optimum business and living conditions. State-of-the-art industrial estates boast sophisticated facilities and superior services.
The country's well-defined investment policies focus on liberalization and encourage free trade. Foreign investments, especially those that contribute to the development of skills, technology and innovation are actively promoted by the government. Thailand consistently ranks among the most attractive investment locations in international surveys, and a 2006 World Bank report indicated that Thailand was the 4th easiest country in Asia in which to do business, and the 20th easiest in the world.
Numerous government agencies support investors. Through the Board of Investment, the government offers a range of tax incentives, support services and import duty concessions available to an extensive list of businesses that are regarded as priority or promoted activities.
Through the Board of Investment, there are no foreign equity restrictions in the manufacturing sector, no local content requirements, and no 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 3 hours or less.
Other government organizations, like the Department of Export Promotion, and international chambers of commerce, provide invaluable support and a host of other important services.
With strong economic development and strong support industries, the country's industrial production has grown and diversified rapidly both in the long ?established and newly emerging industries.
The government has placed emphasized on attracting investment in 6 key sectors that have been determined as key to the country's developmental objectives. These six target industries include: agriculture and agro-industry, alternative energy, automotive, electronics and ICT, fashion, and value-added services including entertainment, healthcare and tourism.
Thailand has gained a well-known reputation throughout the world for its gracious hospitality. The friendliness of its people and the diverse nature of Thai culture make visitors feel at home in Thailand.
Thailand 's educational standards are accepted by many international examining bodies, while its universities are outstanding in many fields. A great number of international schools and colleges offer world-class education.
In terms of healthcare, the country has developed a good reputation globally, due to its internationally qualified doctors and medical staff, and modern facilities and equipment. It is so good that one of the fastest-rising tourism sectors is medical tourism, with international patients visiting Thailand to take advantage of Thailand's world-class and extremely affordable health care system.