Operate In
Asian areas we Operate In
Thailand
Every year, the World Bank conducts a study on the ease of doing business in various countries around the world. The World Bank produces an annual report that looks at domestic and medium-sized enterprises and the quantitatively measures regulations that affect them, covering nine indicators for 190 economies.
World Bank Group’s 2020 Ease of Doing Business report ranks Thailand 21st out of 190 countries up by six places compared to the previous year. Among areas in this report which showed the greatest improvement, was a reduction in the number of steps required and the amount of time needed for obtaining construction permits, and the score for ease of shareholder suits that in turn helped improve the ranking for protecting minority investors.
For many years Thailand has been among the most successful countries in Asia for attracting Foreign Direct Investment, which is commonly known as FDI. Forbes listed the country as the 8th best-emerging market of 2020. Its current account balance was 5.6% of GDP, with direct investment stocks inward exceeding US$222 billion, according to UNCTAD’s 2019 World Investment Report. It was rated as the 26th best country overall in the 2020 edition of the U.S. News & World Report’s Best Countries report, which evaluated 73 countries based on 75 metrics such as quality of life, economic influence, power, education, and eco-friendliness, among others. Moreover, Thailand is ranked No. 1 on the US News & World Report’s chart of the Best Countries to Start a Business 2020, among 73 participating countries across the globe. In the ever-competitive investment environment that characterizes the 21st century, Thailand has continued to remain attractive to foreign investors. For more than three decades, successive Thai governments have recognized that the private sector in Thailand has been the main facilitator of growth and the government has actively played a promoting and supporting role. The Thai government has taken a consistently favorable stance to reduce so-called ‘red-tape’ policies and facilitate foreign investors, contributing to Thailand’s economic and technological growth. Multinational Companies (MNCs) have set their foot to Thailand over the decades as a quest to be a part of the thriving economy. Almost all major manufacturing giants have a base in Thailand and continue to grow.
Thailand consistently ranks highly in the world for various elements of business and infrastructure in Thailand and is recognized as being the worlds:
31st biggest economy
22nd biggest economy by purchasing power
24th biggest exporter
16th largest manufacturing output
34th largest services output
11th largest agriculture output
25th largest industrial output.
In addition, Thailand is also:
The world’s leading rice exporter in terms of quantity
The world’s second-biggest pineapple exporter
The world’s second-biggest sugar exporter
The world’s leading cassava exporter
The world’s leading rubber exporter
The world’s sixth-largest rubber tires exports in terms of value
The world’s seventh-largest computer device exports in terms of value
The world’s ninth-largest computer accessories exports in terms of value
The world’s seventh-largest motorcycle exports in terms of value
The world’s fifth-largest truck exports in terms of value
The world’s largest producer of HDD
In addition to a growing highway system that now connects not only every province in Thailand but also to the neighboring nations of Laos, Cambodia, Malaysia, Burma and Vietnam, Thailand also offers:
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Seven prominent international airports
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Modern city-wide mass transit in Bangkok
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4G/Wi-Fi and broadband access throughout the country
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Six deep seaports and two international river ports, including containers, tank farms and liquid jetties