Thailand: An Attractive Business Environment - RTE Moscow :
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Thailand: An Attractive Business Environment
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 a favorable choice for the investors:
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.
Social and Political Stability
Thailand is a welcoming 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, of the people in Thailand are Buddhist, all religions are welcome, and His Majesty the King is the patron of all religions.
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.
Government Support and Incentives
Numerous government agencies support investors. Through the Board of Investment, the government offers a range of tax incentives, supports services and import duty concessions available to an extensive list of business 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 requirement, 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.
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.
Source: Royal Thai Embassy, MoscowRead more: