TIGER CONSULTING ASIA
HR and Payroll Outsource Services, Employment Services, Manpower Contracting
Thailand Investment 2018
March 27th, 2018
Thailand serves as a gateway to one of the world’s most energizing markets. Thailand’s economy grew at a rate of 3.7% in 2017 and is expected to touch 4% in 2018 thanks to strong exports and a lively domestic consumer market and despite political and economic challenges in the past decade.
Thailand’s growing economy offers abundant resources and a skilled and cost- effective workforce for foreign investors. Thailand has a well-defined investment policy framework that promotes free trade. The country's main strong points are a skilled work force in a number of sectors, a strategic location at the heart of Asia, the country is an entryway to Southeast Asia and the Upper Mekong Basin region where the emerging markets have great economic potential, a government policy which promotes investment and free trade, and the existence of a number of government agencies to help investors. The government, through its several agencies such as the Board of Investment (BOI) and the Industrial Estate Authority of Thailand (IEAT) and its many bilateral agreements, offers numerous tax and non-tax incentives to support investors.
In 2014, the BOI approved the “Seven-Year Investment Promotion Strategy” (2015-2021). This investment strategy focuses on giving priority to investments that will contribute and have a positive impact on society and the environment. It also gives priority to high-tech industries, service industries that support the development of the digital economy, and activities that develop and utilize local resources. Advancing into 2018, the BOI investment plan continues to promote a value-based, innovative, and technology-driven economy.
In 2017 investment projects continued to increase in Thailand with Japan being the largest foreign investor. The second largest group of foreign investors in Thailand was Singapore, followed by China, the United States and the Netherlands. BOI has set a 2018 target for investment at 720,000 million baht which is a rise of 12% above 2017 focusing on projects in the agriculture, tourism, and services fields where Thailand has great potential. BOI also has plans in 2018 to arrange road shows to countries such as Japan, China, Hong Kong, Korea, and European nations. The objectives are to publicize Thailand’s investment opportunities and encourage more foreign investment into the country. BOI is also organized "Thailand Taking Off,” that just took place on March 19th. The event showcased Thailand’s potential and preparedness to become a regional investment hub.
Tiger Consulting Asia has offices in six ASEAN countries and we are committed to making expansion and management of Asian and UAE operations easier for international businesses. Tiger Consulting's HR, Payroll, employment and business support services are managed by experienced teams on the ground in 16 locations: Australia, Cambodia, China, Hong Kong, India, Indonesia, Korea, Malaysia, New Zealand, Philippines, Singapore, Taiwan, Thailand, Vietnam, UAE and USA. The company currently serves 300+ businesses spanning industries including IT, telecom, social networking, fashion, finance, pharmaceuticals, travel, recruitment, Gas & Oil and hospitality.
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Sincerely,
Mercy Mildener
Public Relations and Marketing Consultant
