Foreign investment
- Thailand News
Thailand signals reopening for foreign investment at UNGA78, says PM Srettha
Srettha Thavisin, the Prime Minister of Thailand, declared his attendance at the 78th United Nations General Assembly (UNGA78) session in New York a triumph, as it signalled that Thailand is reopening its doors to foreign investment. PM Srettha, who also holds the position of finance minister, shared this positive outlook with the press following his address at the UNGA78 general…
- Business News
Foreign income tax proposal raises eyebrows among retail investors
A call has been issued to the government to reconsider the proposed foreign income tax, which could significantly impact retail investors with overseas investments, according to Jitta Wealth Asset Management. Trawut Luangsomboon, Jitta’s chief executive, voiced his concerns about the Revenue Department’s plan to include assessed income from abroad in the personal income tax calculations. He pointed out that the…
- Business News
BlackRock eyes Thai clean energy and sustainability bonds for investment
Global asset management giant, BlackRock Inc, with a staggering total of US$9.43 trillion worth of assets under its belt, has set its sights on expanding its business horizons in Thailand. The company is particularly interested in investing in the Thai government’s Sustainability Linked Bonds and the country’s clean energy sector, according to a statement by government spokesperson Chai Wacharonke. The…
- Business News
Oil price surge stokes investor fears of further US interest rate hikes
Equity markets demonstrated uncertainty as investors awaited a critical United States inflation report. Their apprehension stemmed from the fear that the recent oil price surge might push consumer prices upward, pressuring the Federal Reserve to increase interest rates once more. The Federal Reserve asserted that its monetary policy decisions will be driven by data, considering a variety of figures. Throughout 2023,…
- Business News
GAC to invest 6bn baht in Thai EV and battery factories
Guangzhou Automobile Corporation (GAC), China’s second-largest electric vehicle (EV) seller, is set to invest 6 billion baht in the construction of EV and battery factories in Thailand over the next three to five years. The move will transform the country into a key production and export base for the firm. Ocean Ma, who oversees the company’s subsidiaries, Aion Automobile Manufacturing…
- Business News
Thailand sees 17% boost in foreign investment, hitting 58.9 billion baht in 7 months
Thailand saw a 17% increase in foreign investment, reaching 58.9 billion baht in the first seven months of this year. The announcement was made yesterday by Rachada Dhnadirek, the deputy government spokeswoman. Investors from Japan played a major role, with 94 groups contributing 19.89 billion baht. The United States followed with 67 entities investing 3 billion baht. Singapore had 61…
- Economy News
Foreign investments bolster Thai economy with 58.9 billion baht boost
From January through July of this year, Thailand welcomed a foreign investment sum of 58.9 billion baht. A notable chunk of this influx originated from Japan, whose companies lavished the largest amount of capital on developing their businesses within Thai borders. Estimates suggest that the Japanese investors led the pack with a total outlay of 19.9 billion baht. They were…
- Business News
Thailand’s foreign direct investment skyrockets with focus on EV industry
Investment attraction to Thailand has seen a remarkable surge in the first half of this year. The nation registered a 70% year-on-year increase to an impressive 364 billion baht, according to the Board of Investment (BoI). This boost, particularly contributed by an astonishing 141% soar in foreign direct investment, serves as a testament to Thailand’s status as a preferred manufacturing…
- Business News
GAC Aion to invest 6 billion baht in Thai EV market expansion
China‘s third-largest electric vehicle (EV) producer, GAC Aion, is gearing up to expand its operations in the Thai market. In an ambitious plan, the automaker pledged to pour over 6 billion baht into the establishment of manufacturing and sales facilities in Thailand. This noteworthy market penetration comes as the result of the Board of Investment’s (BoI) careful arrangement involving seven…
- Business News
German and French firms eye Thailand’s booming electric vehicle sector
A surge of interest in Thailand’s budding electric vehicle (EV) industry has been noted among businesses from France and Germany. The Thailand Board of Investment (BoI) revealed this interest following an investment promotion roadshow in these European nations. The BoI’s Deputy Secretary-General, Wirat Tatsaringkansakul, suggested a particularly keen receptiveness from French and German investors. These potential investors are reportedly looking…
- Business News
Thailand investments attract 45 billion baht in foreign funding
In the first five months of 2023, Thailand received foreign investments amounting to 45.4 billion baht, with Japan being the largest spender in the development of businesses in the country. The figures released by the Commerce Ministry show Japan’s investments reaching 15.9 billion baht, followed by China at 11.5 billion baht, and Singapore at 6.35 billion baht. The Business Development…
- Economy News
Top 5 nationalities investing in Thailand in Q1
Foreigners invested 33 billion baht into Thailand in the first quarter of the year, a government spokesperson revealed today. Investors from Japan invested the most, followed by investors from Singapore and the USA, respectively. A spokesperson for the Prime Minister’s Office and Deputy Secretary-General to the Prime Minister Anucha Burapachaisri revealed that the government approved investment from 174 foreign investors…
- Best of
Top 5 reputable accounting firms in Thailand 2022
Have you just started your own business in Thailand? Or are you looking for some assistance in growing and expanding your already established business? If the answer is yes, then partnering with a professional accounting firm may be the best solution for you. Whether it be ensuring that you comply with Thai law or handling critical financial tasks like filing…
- Business News
Opposition to foreign land ownership in Thailand
The government scheme to allow foreigners to buy one rai of land may have been met by enthusiasm in the expat community but not everyone has welcomed the idea. The Interior Ministry’s proposal to allow foreigners to own a bit of land if they invest 40 million baht is seen by many as a short-term fix to the kingdom’s economy…
- World News
Thailand or Cambodia? Comparing 10 year visa programmes
Cambodia has launched a “My 2nd Home” programme to encourage foreign investment in the country. The programme features a 10 year long “Golden Visa” with unlimited entry and exit and other benefits. But how does it compare with Thailand’s 10 year Long Term Resident visa? Applicants for the “My 2nd Home” Golden Visa must be a foreign investor with an…
- Visa Information
Work permit programme for Elite cardholders launched to draw in foreign investment
A work permit programme aimed at attracting rich foreigners and drawing in foreign investment has been launched by the Thailand Privilege Card company, which operates the Elite Card scheme. Cardholders who are eligible for the new Flexible Plus Programme must make an investment of US$1 million, which is around 30 million baht. Under the new programme, cardholders with a membership…
- Thailand News
Thailand’s exclusion from US Summit for Democracy could impact foreign investment
The exclusion of Thailand from the US’s virtual Summit for Democracy could cause Thailand to lose foreign investment. More than 100 democratic nations were invited to the event hosted by US President Joe Biden while Thailand sits on the sidelines with other nations including Vietnam, Laos, China, and Russia. The summit focuses on three key themes: Defending against authoritarianism, addressing…
- Visa Information
Cabinet approves long-stay visa regulations as Thailand seeks more foreign investment
As Thailand prepares to re-open without quarantine to select vaccinated tourists, 2 draft regulations related to long-stay visas have been approved in principle. According to a Bangkok Post report, the long-stay visa programme aims to attract 300 billion baht in foreign investment as the government tries to kick-start the economy. Spokesperson Traisuree Taisaranakul says the Interior Ministry issued the draft…
- World News
Myanmar coup and crisis cause major damage to its economy
The continued civic unrest after the military coup has ravaged Myanmar and its economy, with massive losses across all economic indicators, including Thailand’s exports to its troubled neighbour. This year’s exports from Thailand to Myanmar predicted to lose between 60 and 96.5 billion baht, between 51 and 82%, according to the University of the Thai Chamber of Commerce. The UTCC’s…
- World News
Myanmar cancels Thai investment in the Dawei Special Economic Zone
The Dawei Special Economic Zone Management Committee has announced the cancellation on the deep seaport project contract with Italian-Thai Development (ITD), one of Thailand’s leading industrial firms, by saying that they “lost confidence” in the company after long, controversial issues. The Dawei Special Economic Zone Management Committee said that the Thai company has caused them “repeated delays, continuing breaches of…
- Visa Information
Government aims to offer work permits to foreigners who invest at least US$1 million
Probably the most expensive Work Permit in the world. The Thai government is considering offering work permits to foreigners who invest at least US$1 million in Thai property or businesses. The Centre for Economic Situation Administration has approved a proposal to grant work permits to eligible Elite Card holders. In order to qualify, they must have the top-tier Thailand Elite…
- Business News
Number of foreign companies investing in Thailand up over 100%
Foreign investment in Thailand has grown by 106% according to the National News Bureau of Thailand, with officials rolling out a number of measures to make foreign investment less complicated. The latest increase is despite a fall in the number of foreign companies approved to carry out business in the Kingdom – down 23% from last year. Poonpong Naiyanapakorn, deputy…
- Business News
Foreign investment applications rise 69% in first nine months
PHOTO: Bloomberg Thailand continues attracting foreign direct investment, with applications rising 69% in the first nine months of 2019, according the Board of Investment (BOI). Applications in the electronics and electrical sector, and the digital and automotive sectors, represented 131.78 billion baht, or 65% of the total. The value of applications, up to September this year, was 203.37 billion baht,…
