Today, I’m going to share something that’s gotten me excited.
What do you think of when Thailand comes to mind? I bet it’s travel and vacation related.
But these days, travelling to 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 segments. 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. If you are interested to invest in Thailand, click here.
And here’s 6 compelling reasons why Thailand market is favorable for foreign investors.
Located in the heart of Asia, Thailand enjoys convenient and beneficial trading opportunities with India, China and the members of the ASEAN. This helps Thailand expand its business ties, grow an economy and provide better investment opportunities to foreign investors.
Full support from Thai government
Producing crops used to be the primary source of livelihood in Thailand. However, in the recent past, industries have developed and the government is welcoming foreigners to invest in the Thai economy. Through the Board of Investment (BOI), the government is offering various tax incentives schemes to its investors.
Thailand has an abundant and plentiful of natural resources, improved IT networks (even better than Malaysia’s) skilled workforce, modern transportation and communication facilities. All these provide the best of business and living conditions and these infrastructures and amenities is one vital reason why tourists and investors flock to Thailand.
FDI Policies and Investments
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 has become increasingly reliant on exports in recent years. The table below shows Thailand’s top five trading partners:
More positive news on the Thai’s economic growth; Thai’s FDI investment applications exceeded BOI’s targets in 2016, totaling THB 584 billion. On these applications, total foreign investments is THB 358 billion.
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 Cooperation Treaty, etc.; Thailand government too, has worked towards protecting the global brands registered in its country.
Now you’re probably wondering, how does this have anything to do with property investors? You might have heard that foreign investors are not allowed to own any landed properties/ land in Thailand (unlike in Malaysia where foreigners can easily own numerous properties in our soil).
That’s because we have as a wiser and more innovative investor, it’s time to not limit investments as investments alone. We need to improvise and build a business with properties.