Doing Business in Thailand
Doing business Thailand is a matter that appeared in a post in VN Express just a few days ago regarding the top 3 business destination in ASEAN.
The post was indeed related to a survey carried out by Standard Chartered Bank. The survey was focusing on the business opportunities in the ASEAN region in the next 12 months.
Singapore is dominating the ranking and it is standing out as main Country for foreign Companies to establish HQ, for R&D and for establishing sales & marketing offices for the region.
Singapore is by far one of the most accommodating Country in Southeast Asia when it comes to business. An efficient system, with a very high EPI (10th), it represents a main hub for maritime transports and overall services for the region.
Thailand and Vietnam are ranking on the second and third place
The business role of Thailand in ASEAN
The increasing spending capabilities of Thai consumer is driving demand and driving potential foreign investors looking to new markets either in terms of export or in terms of establishing manufacturing plants to satisfy the local demand.
Moreover the really attractive emerging markets of the ASEAN region with more than 660 mld of potential consumers in 10 Countries is driving attention of international firms willing to have a stable manufacturing organization.
Doing business in Thailand also means capability to reach a huge consumer audience with limited duty and tax. AFTA allows easier trade among ASEAN Countries and certainly it make the business more appealing.
Thailand represents an ideal market to start doing business. Its geographical placement and main deep-water ports make, then a young population and a very strong labor force are key factors to attract foreign Companies.
The location of Thailand (main hub for Indochina) is a tremendous opportunity to make your business efficient. One of the writer of this post had chosen Thailand for logistic reasons… traveling all across ASEAN from Bangkok is a save-cost solution. A few hours flight are enough to reach any Country in the region. Bangkok itself is an efficient city. The services are abundant and the ease to move around for Clients meeting is astonishing.
Bangkok, 10 July 2021