Thailand aims to be global hub for skilled foreign workers

Thailand is aiming to enhance its global competitiveness by becoming a hub for skilled foreign workers, as part of a long-term strategy to drive and sustain economic growth.

Prime Minister Srettha Thavisin is spearheading this initiative by introducing a range of new visa types designed to attract international talent, according to government spokesman Chai Wacharonke. This announcement was made yesterday, June 4, highlighting the government’s commitment to positioning Thailand as a prime destination for skilled professionals.

Data from the Board of Investment (BOI) reveals that Thailand has already issued working visas and work permits to over 56,000 foreign experts involved in investment-promoted projects. Additionally, more than 4,000 long-term resident (LTR) visas have been granted.

The LTR visa holders include 791 from the US, 479 from Russia, 332 from the UK, 277 from China, 236 from Germany, 207 from Japan, and 198 from France.

Furthermore, there are 2,170 smart visa holders, who are skilled professionals and investors in key industries, as well as a startup group predominantly from the US, Russia, the UK, Japan, and Germany. These visas are part of a broader effort to attract high-potential foreigners, including specialists, work-from-Thailand professionals, high-income individuals, and retirees with their spouses or companions.

Chai emphasised that the LTR visa is pivotal in this strategy, allowing recipients to reside in Thailand for 10 years with unlimited re-entries and work permits. It also offers a significant reduction of up to 17% in personal income tax rates for specialists and extends the reporting period with the Immigration Bureau from every 90 days to once a year.

Destination Thailand

Adding to these efforts, the Cabinet is considering the introduction of a Destination Thailand visa (DTV) aimed at foreign nationals with digital skills. The DTV, expected to launch this month, is designed to attract more foreign talent to work and travel within the country.

To further facilitate the stay of foreign specialists, talents, and investors, the BOI has collaborated with the Immigration Bureau and the Labour Ministry to establish a One Start One Stop Investment Center (OSOS), Chai stated.

“The premier has given importance to attracting investment to boost the country’s competitiveness.

“He believes the effort to implement measures for spurring the economy and sustaining growth to align with current circumstances will serve as a tool to put Thailand on the investment map in the long run.”

The government’s proactive approach underscores its ambition to create a thriving environment for international professionals, thereby bolstering Thailand’s economic prospects and establishing it as a key player in the global market, reported Bangkok Post.