Travelling to the kingdom of Thailand is no longer limited to shopping, tourism, or relaxation purpose only, the country is now fast growing its economy and inviting expats to make investments in various business areas. The Thai government has always believed in the free and open economy and is acknowledged for its clarity in dealing with foreign investors.
According to a 2009 report prepared by the World Bank, Thailand ranked 13th from 181 countries in the category of easy business performance. Since then, Thai markets have become friendlier and created more opportunities for foreign investments.
Below here we have compiled six compelling reasons why Thailand market is favorable for foreign investors.
Situated in the heart of Asia, Thailand enjoys convenient and beneficial trading opportunities with India, China and the members of Association of Southeast Asian Nations (ASEAN). This helps Thailand expand its business ties, grow an economy and provide better investment chances to expats.
Welcoming Thai government:
Producing crops has been the primary source of livelihood in Thailand. It is only in the recent past when industries have developed and the government is welcoming foreigners to invest in the Thai economy. Through the Board of Investment (BOI), the government offers various tax incentives schemes to its investors.
A country like Thailand which has abundant natural resources, improved IT networks, skilled workforce, modern transportation and communication facilities provide the best of business and living conditions and indeed attractive investment opportunities for foreigners.
Foreign direct investment plays a major role in Thailand’s economic development and is beneficial for both the government and investors. Investments done in the fields of skill development, technology and innovation enjoy active backing by government and liberalization.
Thailand is one of the founding members of ASEAN group and a key developer of ASEAN Free Trade Association (AFTA) which aims to reduce the import duties to zero. Thus, it is correctly said that Thailand promotes free and fair trade which is a great opportunity for foreign investors.
Safe and protected:
Recognizing and respecting the international rules like the Paris Convention, The Patent Co-operation Treaty, etc; Thailand government too, have worked towards protecting the global brands registered in its country.