New law allows foreign talent to thrive in Thailand
The government of Thailand has taken a huge step forward in attracting highly skilled foreign workers to the country, with the release of a new law that allows foreigners to work or invest in 18 select industries.
The Royal Thai Gazette website published a notice from the Ministry of Interior outlining the special permit for migrant workers, signed by Prime Minister Gen Prayuth Cha-o-cha and Interior Minister Gen Anupong Paochinda on Friday, February 3.
This new law is an ideal opportunity for skilled specialists, investors, executives, and entrepreneurs to make their mark in Thailand and a sign that the Thai government is open to foreign investment and willing to support the growth of their economy.
The SMART visa program, introduced by the Board of Investment of Thailand (BOI), offers a new type of visa for highly skilled workers with a maximum residency of four years, reported Khaosod.
The Ministry of Interior has revised its initial announcement, deleting a verse and focusing on the target industries for migrant workers, which includes executives and entrepreneurs for startups.
It is a smart move by the Thai government. Not only will it bring in talented individuals who can contribute to the growth of the country, but it also shows a commitment to economic recovery and foreign direct investment.
Experts, investors, executives and entrepreneurs for startups are allowed to work, invest, establish and oversee businesses in Thailand’s target industries, meeting BOI approvals set by the Cabinet. The targeted industries include:
- Automotive industry
- Electronic industry
- Quilyty travelling industry
- Agriculture, Food, and Biotechnology industry
- Automation and robotics industry
- Transport and logistics industry
- Petrochemical and chemical industry
- Digital industry
- Medical industry
- Defence industry
- Circular economy industry e.g. fuel production from waste and water resource management
- Aviation, aircraft, and aerospace industry
- Human resource development in science and technology
- Environment and renewable energy management
- Technology, innovation, and startup ecosystem management
- Targeted technology development
- International business centre
- Alternative dispute resolution service”
