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Welcome to the newest issue of Thai news, a resource that will keep you up to date on economic and business news in Thailand.
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Welcome to the second quarter issue of Thai News for 2015. The Thailand Board of Investment's (BOI) North American office would like to thank you for your support as we continue to share timely news updates, particularly as they relate to foreign investment and Thailand's economy. There are a lot of exciting events and updates coming out of Thailand. For example, the 19th annual Saha Group Fair is right around the corner. The exhibit will showcase Thailand's top manufacturing products across a wide range of industries, including textiles, cosmetics, household products and much more, June 25-28th. There are a couple more updates I'd like to share with you below, but for more information about the Saha Group Fair, please visit us online.
Thank you,
Korbsiri Iamsuri, Director
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Seagate to Invest $470 Million in Thailand Over Next 5 Years
Seagate Technology Plc will invest $470 million in Thailand over the next five years, expanding its existing footprint in the country. The company plans to expand the capacity of an existing facility in Thailand, creating 2,500 new jobs by 2016. Seagate chose to invest in Thailand for a number of reasons, including the country's educated workforce, strategic location within Southeast Asia and the investment incentives offered by the Thailand Board of Investment (BOI).
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Thailand to Start $12.2 Billion Railway Project in September
Thailand will join forces with China to build a $12.22 billion (400-billion-baht) railway project. Two rail lines will be constructed. The first will connect the city of Nong Khai on the Thai-Laos border, with Bangkok and the country's eastern industrial zones in east. The second railway will link Bangkok with the Saraburi province, an industrial hub. The project will drastically improve the country's infrastructure and modernize its transportation network.
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Thailand to Boost Internet Coverage to Push Up Economic Growth
As part of Thailand's digital economy policy, the government plans to initially spend $114 million to expand broadband Internet service across the country, particularly to the more remote areas. Improvements to the country's online infrastructure will better equip Thailand to compete in the digital economy and unlock economic growth in country.
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Intel Corporation to Aid Thai Government's "Digital Economy" Plan
Intel announced it will endorse Thailand's digital economy through providing technology and training to promote digital literacy. The company will train and equip individuals and small and medium enterprises (SME) through its Information and Communications Technology (ITC) courses, preparing individuals with the skills necessary to help promote the government's digital policy.
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SUBCON Thailand 2015
ASEAN's largest industrial subcontracting exhibition is right around the corner, May 13th to 16th. The 9th annual event is expected to host more than 400 subcontractors from Thailand, ASEAN and Japan, and attract more than 24,000 local and overseas buyers from 15 countries. SUBCON Thailand has significantly grown over the past eight years. Last year, it generated around 7,046 million baht ($215,459 USD) in sales and 3,800 business matches.
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DID YOU KNOW?
Thailand tops the list of the world's happiest economies.
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"Logistics-wise, Thailand is a good operating base for us due to being the center of the Indochinese peninsula. Here we have quick access to export markets in surrounding countries."
- Hirotaka Murakami, CEO of the Panasonic Group of Companies in Thailand
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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.
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CONTACT US
Korbsiri Iamsuri,
Director
Thailand BOI
7 World Trade Center
34th Floor, Suite F
New York, NY 10007 USA
Tel: (212) 422-9009
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