why thailand (toronto)
TRANSCRIPT
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Thailand: An Asian Hub, a World of Opportunities
Ms. Ajarin PattanapanchaiDeputy Secretary General
Thailand Board of Investment
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THAILAND’s Fast Facts (2013)• Thai population:67 million• Thailand’s GDP: US$385 billion
Per capita GDP: US$5,647• Thai exports: US$225.4 billion• Thai imports: US$219.0 billion
THAILAND is the world’s• 17th largest manufacturer output• 28rd largest exporter (US$225.4
billion in 2013)• 2nd largest economy in ASEAN
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ASEAN Snapshot Macro-Economic Basics (2013)• GDP (2013): US$2,399 Bn• GDP per capita: US$3,837• GDP Growth: 5.1%• Population: 625 million
people• Area: 4.44 million km2
Source: ASEAN Finance and Macro-economic Surveillance Unit Database (compiled/computed from data submission, publications and/orwebsites of ASEAN Member States' national statistics offices and relevant government agencies, and from the International Monetary Fund World Economic Outlook (IMF WEO) Database April 2014 as of August 2014
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Free Trade Agreement
Note: * Thailand, Malaysia, Indonesia, Philippines, Singapore and Brunei only.
ASEAN•+570 million pop.•US$1.3 trillion GDP (2007)
ASEAN+3•+2 billion pop.(1/3 world pop.)•US$9trillion GDP(16% of world GDP)
ASEAN+6•3.3 billion pop.(>50% world pop.)•US$12.25 trillion GDP
Thai-Peru
Thai-Chile
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ASEAN Economic Community(AEC) 2015
AEC A Single Market & Production base
Source: Reaping the benefits of AEC & ,www.asean.org, as of December 2009
• Free flow of goods• Free flow of services• Free flow of investment• Free flow of capital• Free flow of skilled labor
Transform ASEAN into a stable, prosperous and highly competitive region with equitable economic development, and reduced poverty and socio-economic disparities
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WHY THAILAND
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Highly Ranked
UNCTAD Ranks Thailand 8th as a top prospective host economy 2013-2015
World Bank Ranks Thailand among the easiest places to do Business in Asia and 18th in the World
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5.815.875.94
6.176.21
6.66.64
7.137.24
7.577.597.657.847.98
10
0 2 4 6 8 10 12
United Kingdom (15)Poland (14)
Malaysia (13)Maxico (12)
Thailand (11)Japan (10)
Singapore (9)Brazil (8)
Canada (7)Taiwan (6)
S.Korea (5)India (4)
United States (3)Germany (2)
China (1)
Index score (10=High, 1=Low)
2013 Country Manufacturing Competitiveness Index Rankings
Source: 2013 Global Manufacturing Competitiveness Index by Deloitte Touche Tohmatsu Ltd. And the U.S. Council on Competitiveness
* ( ) = rankings
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“Over the past 6 years, Thailand has suffered bouts of political unrest on top of the global financial crisis and severe flooding. Nevertheless, the economy maintains solid economic fundamentals that support its resilience, with high international reserves, relatively low inflation, a moderate amount of government and external debt, and a strong manufacturing base.”
Asian Development Bank Outlook 2014
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213
128106 105
7455 51 47
31
0
50
100
150
200
250
Prime Office Occupancy CostsUS$/sq ft/annum
Source: Asia Pacific Office Market View, Q1, 2014 as of May 28, 2014
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Wage Comparison92.4
54.849.6
42.833.3
21.5 20.9 17 14.68.5 8 7.9 7.6
0102030405060708090
100
Tokyo
Seou
l
Dubai
Hong K
ong
Taipei
Kuala
lumpur
Shan
ghai
Beijing
Bangk
ok
Mum
bai
Man
ila
Jaka
rtaDelh
i
Wag
e L
evel
s (U
S$)
GrossNet
4
Cities ranked according to gross value of index. New York = 100Source: UBS/Prices & Earnings update September 2012
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Thailand’s corporate income tax is the 2nd lowest in SE Asia
Source: Bank Of Thailand as of August 2012
Corporate Income Tax Rates
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Top Destinations for Expat Experience 2013
by HSBC
1.Thailand
Source: Expat Explorer Survey 2013, HSBC
Thailand offers Best Expat Experienceand a Low Cost of Living
Thailand has been chosen as the best country in the
world forOverall Expat Experience& Overall Quality of Life
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Infrastructure• 7 international airports In 2009, 53.9 million passengers, 1.1 million
tons of cargoes Suvarnabhumi Airport – Capacity: 45 million
passengers and 3 million tons of cargo per year
• Over 70,000 km Highway Systems• 6 Deep Sea Ports & 2 International River Ports Capacity over 10 million TEUs Laem Chabang Sea Port – Capacity: 10.8
million TEUs, with additional 8 million TEUs expansion
e-Customs facilities• 4,346 km Rail links to Malaysia & Singapore• Stability electricity supply• 60 Industrial Estates
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GMS InfrastructureDevelopment
Source: NESDB as of Jan 20,2009
North-South Corridor
North-Eastern Corridor
East-West Corridor
Southern Corridor
Central Corridor
Southern Coastal Corridor
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• Thailand has 8 intellectual property-related laws, all of which are consistent with international standards: • Copyright Act of 1994• Patent Act of 1979, as amended by the Patent Act
(No.3) of 1999 • Trademark Act of 1991, as amended by the Trademark
Act (No.2) of 2000) • Act for the Protection of Layout-Designs of Integrated
Circuits 2000• Trade Secret Act of 2002 • Protection of Geographical Indication Act of 2003• Plant Varieties Protection Act of 1999 • Traditional Medicine and Practice Act of 1999
IPR Framework
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Investment Promotion Policy
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No restrictions on foreign currency
100% foreign ownership
No export requirements
No local content requirements
LIBERAL INVESTMENT REGIME
Thailand and the BOI offer:
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19Overseas offices
Country desks
1-Stop for visas & work permits:work permits in 3 hours
Interaction with other govt. agencies on behalf of investors
Industrial Subcontracting Services Global Sourcing program
(BUILD Unit)
Intensive information
ASEAN Supporting Industry Database
BOI SUPPORT SERVICES
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(20)
Tax IncentivesCorporate income tax
holidays up to 8 yrs•Additional 50% reductions of corporate income tax for 5 yrs may apply
Import duty reductions or exemptions on machinery and raw materials
Double deduction of public utility costs
Deductions for infrastructure construction/installation costs
Non-Tax Incentives Land ownership
rights for foreign investors
Permission to bring in foreign experts and technicians
Work permit/visa facilitationOne-Stop-Shop Visas & Work Permits
are issued in 3 hours
Basic BOI privileges and Measures
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Success Stories of Canadian Companies
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Sectors of Opportunity
Target Industries
Agro and food processing
Automotive
Machinery
Aerospace
Target Industries
Biotechnology
Alternative energy
E&E & ICT
Medical devices
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Outward Investment Promotion Policy
Create good network in targeted countries to decrease risk for Thai oversea investment
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Potential Outward Investment Business
(1) Agriculture and Food processing(2) Fashion : textiles, garments and jewellery(3) Automotive Parts(4) Construction(5) Services & Tourism : Restaurant, Hotel, Spa(6) Plastics processing
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Thank you