Office of the Board of Investment
555 Vibhavadi-Rangsit Road
Tel: +66 (0) 2553 8111
Fax: +66 (0) 2553 8315
One Start One Stop Investment Center (OSOS)
18th Floor, Chamchuri Square Building
319 Phayathai Road
Tel: +66 (0) 2209 1100
Fax: +66 (0) 2209 1199
Thailand covers an area of 514,000 square kilometres in the centre of the South-East Asian peninsula. It is bordered by Myanmar (Burma), Lao People's Democratic Republic, Cambodia and Malaysia. Thailand is a warm and rather humid tropical country.
Thailand is divided into four natural regions: The North is a mountainous region comprising natural forests, ridges and deep, narrow, alluvial valleys. The major city in the region is Chiang Mai.
Central Thailand, the basin of the Chao Phraya River, is a lush, fertile valley. It is the richest and most extensive rice-producing area in the country and has often been called the "Rice Bowl of Asia." Bangkok, the capital of Thailand, is located in this region. It is also the country's largest city.
The Northeast region is arid, characterised by rolling surfaces and undulating hills. Harsh climatic conditions often result in this region being subjected to floods and droughts.
The Southern region ranges from hilly to mountainous, with thick virgin forests and rich deposits of minerals and ores. The region is the center for production of rubber and cultivation of other tropical crops.
Thailand Board of Investment
The Board of Investment (BOI), operating under the Prime Minister’s Office, is the principal government agency for encouraging investment. The BOI is available to assist in several ways including enhancing competitiveness and investment facilitation, and providing business support services both in Thailand and overseas.
The BOI has 14 overseas offices (Beijing, Frankfurt, Guangzhou, Los Angeles, Mumbai, New York, Osaka, Paris, Seoul, Shanghai, Stockholm, Sydney, Taipei and Tokyo) that liaise with potential investors and assist them prior to their official visit to Thailand.
Currently, the government has ongoing the “Seven-year Investment Promotion Strategy (2015-2021)” that became effective on January 1st, 2015. The purpose of this strategy is to promote valuable investment both in Thailand and overseas to enhance Thailand’s competitiveness, to overcome middle income trap, and to achieve sustainable growth in accordance with the sufficiency economy philosophy.
The strategy consists of 6 major points: investment promotions for specific types of businesses, promoting investments that create value to the country, promoting new regional clusters, granting alter tax incentives to be more suitable to each eligible activities and concentrating on making investments easier, increasing the importance of Thai investments overseas, and measuring the organization’s performance through investment applications’ value and the value of investments.
The BOI accommodates investors with the One Start One Stop Investment Center that offers a wide range of investment related services such as obtaining factory operation licenses and foreign business licenses. It also acts as a One Stop Service Center that provides information on International Headquarters (IHQ), International Trading Center (ITC) and Special Economic Zones while also coordinating with related agencies and other One Stop Service Centers located in those 10 Special Economic Zones. Please visit http://osos.boi.go.th/ for more details.
Thailand is not only the destination for tourists, but also for investors from around the world by containing a lot of advantages in many ways as Thailand is in a strategic location and serves as a gateway into the heart of Asia, which is the largest growing economic market. With its fully developed world-class infrastructure, Thailand offers convenient trade with many countries such as China, India and ASEAN, and easy access into the Grater Mekong sub-region, where newly emerging markets offer great business potential.
While Thailand has already attracted various global industrial development projects that focus on a wide range of manufacturing processes, education standards have also been improved. A great number of international schools and colleges offer world-class education in different languages, while universities are also outstanding. They also cooperate with STI to provide Work integrated Learning (WiL) program to prepare young generation with full knowledges and experiences before they’re going into a labor market.
The most important part is the government support and incentives. We offer investors a range of tax incentives, corporate income tax exemption of up to 8 years, import duty exemptions or reductions to activities that meet obligatory conditions. Companies receiving investment promotion are free from foreign equity restrictions in the manufacturing sector as Thailand’s investment regime is in total compliance with WTO regulations.
Doing Business in Thailand
According to UNCTAD, Thailand ranked 2nd in Ease of Doing Business among emerging economies in East Asia and 4th in Asia’s Top Prospective Host Economies. Thailand has demonstrated remarkable economic progress experiencing foreign direct investment (FDI) inflows’ growth of 21% over the past 6 years, compared to the global percentage of 0.7%. Thailand has also gained a solid reputation as a second home for various global multinational enterprises (MNEs). With the reduction of the successive corporate income tax to 20% in 2013, the corporate tax rate in Thailand ranks as the 2nd lowest in the ASEAN countries. Not only has this led to an increase in economic activities and investments in Thailand but it has also put the kingdom in a competitive position against other countries.
The main driving forces behind Thailand’s economic growth are our robust human capital. The country has been ranked highest for various factors related to employment and talent development in Asia. For example, it's ranked as the 5th in Attracting and Retaining Talents and 8th in Worker Motivation. Thailand’s investment in human resource development continues to be strong and we look forward to high human capital growth.
In addition, with more than 8 million square meters of available office space, Bangkok is gaining a steady reputation for having the most affordable grade A office spaces in Asia-Pacific with a reasonable occupancy cost of only 30.83 USD/ square foot / annum.