Welcome to the newest issue of Thai news, a resource that will keep you up to date on economic and business news in Thailand.
 

BOI's New 7-Year Strategy Should Sustain GDP Growth 

The Thailand Board of Investment (BOI) recently approved a new seven-year investment strategy that will offer a combination of non-tax, merit-based incentives and tax benefits. The new program, effective from 2015 to 2021, will encourage investments from companies in high-tech, creative and service industries that support the development of the digital economy and industries that utilize local resources.

 

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Ford Keen to Increase ASEAN Market Share

Ford Motor Company is keen to increase its share in the ASEAN market, with Thailand playing a prominent role. The company aims to increase its market share in the region from below 3 percent last year to 3.3 percent this year. Ford is optimistic about Thailand, where the company's market share rose to 3.8 percent last year and is expected to rise to 4.5 percent this year.  Ford is approved to participate in Phase 2 of Thailand's eco-car program, where the company will spend 18.2 billion baht ($550 million) to produce eco-friendly vehicles.

 

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Pace Buying Gourmet Brand DEAN & DELUCA

Thailand's Pace Development Corporation, a company specializing in high-end real estate and gourmet retail, recently announced its agreement to buy iconic gourmet food brand DEAN & DELUCA  for $140 million.  DEAN & DELUCA first established in New York City, now has 11 outlets in the United States and over 31 abroad. With the formation of the ASEAN Economic Community in 2015 Pace sees an opportunity for the company to expand DEAN & DELUCA 's footprint in the ASEAN region. 
  

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Mazda Starts Production at New Transmission Plant in Thailand

Mazda Motor Corporation recently announced it has established a new transmission plant in Thailand, paving the way for Thailand to become a major Mazda supply base in Southeast Asia.  The transmission plant will produce around 400,000 units a year starting next month, raising Mazda's annual production capacity to approximately 1,540,000 units globally. 
  

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Investment Proposals in Thailand to Exceed $24.3 Bln This Year - PM

Thailand anticipates the value of proposed foreign investment in the country to exceed 800 billion baht ($24.3 billion) this year, surpassing the Thailand Board of Investment's target of 700 billion baht ($21.3 billion).  The government is optimistic about the state of the economy, and forecasts a growth rate of 3.5 percent to 4.5 percent in 2015.  Thailand is taking steps to further encourage investment, and recently announced its new seven-year investment strategy to begin in 2015. 

 

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Ministries Team Up to Raise Awareness About ASEAN

Member countries of the ASEAN Economic Community (AEC) are uniting to help raise awareness about the regional grouping among the general public.  The AEC will create a single market and production base in the region and is scheduled to roll out in 2015.  The participating countries aim to leverage the AEC to strengthen the region's economy through closer integration, and to address any misconceptions about ASEAN.

 

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Spending Set to Spur Growth

Thailand's economy is projected to grow 4.3 percent in 2015.  This is boosted by government spending and economic stimulus measures, household and private spending returning to normal and steady economic recovery.  Krungsri Research identifies three themes likely to impact Thailand's economy in 2015: fluctuating global economic conditions and monetary policies, falling global oil prices and reforms to Thailand's domestic political situation.  

 

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DID YOU KNOW?
Thailand is the second largest exporter and fifth largest producer of sugar in the world. 

 

"When we were scouting for appropriate locations to expand our business into Asia, we looked at many countries, including China, Vietnam, Malaysia and Indonesia. We felt that Thailand had the best combination of factors that would make a business like ours successful."

 

 

- Giacomo Sozzi, Canadaoil CEO

 
Thailand Port

 The Thailand Board of Investment (BOI) is the inward investment promotion agency for Thailand that assists foreign investors in identifying business opportunities, providing tax incentives and privileges, and supporting foreign companies seeking to expand into the Asian market. Our services are free of charge and customized to help your clients succeed in Thailand.

 

CONTACT US
Korbsiri Iamsuri,
Director
Thailand BOI
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34th Floor, Suite F
New York, NY 10007 USA
Tel: (212) 422-9009

korbsiri@boi.go.th

 

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