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Presented by Korbsiri Iamsuri on October 6, 2014 at the Vancouver Club in Vancouver, Canada.
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WHY THAILANDKorbsiri Iamsuri
Director, New York OfficeOctober 6, 2014
Thailand’s Fast FactsThai population 67 million (2013)
Thailand’s GDPUS$385 billion (2013)US$5,647 per capita GDP
Thai GDP by sector
Agriculture: 12%
Industry: 45%
Services: 43%Thai labor force 39.13 million(2013)
Thai exports US$225.4 billion (2013)
Thai imports US$219.0 billion (2013) Source: NESDB as of Feb 17, 2014 and Pocket World in Figures 2014 Edition
Strategic Location• Preferential market access to China,
India, and ASEAN – the economic powerhouse of more than 625 million people
• Member of the ASEAN Free Trade Area (AFTA) – $1 trillion in intra-ASEAN trade
annually
• Control of the only land route from Asia to Malaysia and Singapore
Highly Ranked
UNCTAD Ranks Thailand 8th as a top prospective host economy 2013-2015
World Bank Ranks Thailand among the easiest places to do Business in Asia and 18th in the World
5.815.875.94
6.176.21
6.66.64
7.137.24
7.577.597.657.847.98
10
0 2 4 6 8 10 12
United Kingdom (15)Poland (14)
Malaysia (13)Maxico (12)
Thailand (11)Japan (10)
Singapore (9)Brazil (8)
Canada (7)Taiwan (6)
S.Korea (5)India (4)
United States (3)Germany (2)
China (1)
Index score (10=High, 1=Low)
2013 Country Manufacturing Competitiveness Index Rankings
Source: 2013 Global Manufacturing Competitiveness Index by Deloitte Touche Tohmatsu Ltd. And the U.S. Council on Competitiveness
* ( ) = rankings
213
128106 105
7455 51 47
31
0
50
100
150
200
250
Prime Office Occupancy CostsUS$/sq ft/annum
Source: Asia Pacific Office Market View, Q1, 2014 as of May 28, 2014
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
Thailand’s corporate income tax is the 2nd lowest in SE Asia
Source: Bank Of Thailand as of August 2012
Corporate Income Tax Rates
Free Trade Agreement
Note: * Thailand, Malaysia, Indonesia, Philippines, Singapore and Brunei only.
ASEAN•+625 million pop. (2013) •US$2.4 trillion GDP (2013)
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
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
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
Expat Experience Survey
Source: HSBC’s Expat Explorer Survey 2013
Thailand has been chosen as one of the best countries in the world for expats to
live
Country 2013 Rankings
Thailand 1
Bahrain 2
China 3
Cayman Islands 4
Australia 5
Singapore 6
India 7
Taiwan 8
Spain 9
Brazil 10
12
Infrastructure• 7 international airports In 2013, 50.9 million passengers, 1.27 million tons of
cargo Suvarnabhumi Airport – Capacity: 45 million
passengers and will expand to 60 million within 3 years, 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• 60 Industrial Estates
Competitive Workforce• 61 public and private engineering institutes, accredited by the Council
of Engineers• More than 18,000 engineering graduates and approximately 87,000
general science and technology graduates per year• 39.62 million in labor pool
15
• 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
Exceptional Investment Incentives
• Tax Incentives– Corporate income tax holidays up to 8 years– Import duty reductions or exemptions on machinery and raw materials– Double deduction of public utility costs – Deductions for infrastructure construction/installation costs
Exceptional Investment Incentives• Non-Tax Incentives
– Land ownership rights for foreign investors
– Permission to bring in foreign experts and technicians
– Work permit/visa facilitation– No restrictions on foreign currency
remittances– No export requirement– No foreign equity restrictions in
manufacturing sectors and promoted services sector
– No local content requirement
Key Industries
Automotive – The Southeast Asia Leader• Largest auto producer in Southeast Asia • 9th largest producer in the world in 2013• More than 2.46 million vehicles produced in 2013• #1 producer of one-ton pickup trucks• #2 only to the U.S. in pickup truck production• Strong supporting industries with over 2,300 suppliers
Electronics & Electrical Industry
• The Silicon Valley of Asia
– The world’s largest producer of HDDs
– Home to the largest HDD multinationals
– More than 40% of global production
Electronics & Electrical Industry• $47 Billion in exports
• A leader in integrated circuits and white goods
• Strong supporting industries for electrical appliances compressors, motors, plastic and metal parts
Aircraft Part Production & Maintenance• Bangkok’s airport is 15th busiest in the world• GE made Thailand its Asian base for aerospace tubing and ducting
components. Other US companies include: – Chromalloy, Ducommun Technologies , Primus International and
Triumph• Ancillary industries provide developed and available suppliers:
– Stainless steel and aluminum fabrication, fiberglass application technology, and polymer supply
Agro-basedWorld’s No.1 producer of natural rubber, cassava & tapioca, canned tuna
• Over 10,000 companies– including Nestle, Cargill, Unilever, Jelly Belly and Dole
• Exports to surpass $33 billion in two years
• 80 percent of raw materials sourced locally
Food Processing• One of the world's top
exporters of processed food
• Thailand leads the market in:– canned tuna– frozen seafood– canned pineapple– rice – chicken
26Overseas 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
Success Stories of Canadian Companies
www.ThinkAsiaInvestThailand.com