BOI Thailand
J U N E \ J U L Y    2018
 
     
   
FOREIGN DIRECT INVESTMENT
N E W S   F R O M   T H A I L A N D
An Update on News Impacting Business in Thailand and the ASEAN Region
 
             
                     
 

 

 

Summer has officially begun and we've had an incredibly exciting and busy few months at BOI.

Only two weeks ago, the US-ASEAN Business Council visited Thailand. Led by CEO Alexander C. Feldman, American businessmen from 39 companies paid a courtesy call to Prime Minister Gen. Prayut Chan-o-cha as well as members of the Thai Cabinet, to commemorate the strong bilateral trade relationship between the two countries and the strides the Thai government has made in ensuring Thailand remains a friendly business climate for American investors.

In April, a delegation from BOI attended MRO Americas 2018 in Orlando, Florida to promote Thailand's opportunities in the aerospace sector, specifically in maintenance, repair and overhaul operations, as well as discuss the progress of the Eastern Economic Corridor project which will be anchored by an expanded U-Tapao Airport as a new regional aerospace and MRO hub of ASEAN.

In May, the BOI co-organized the annual largest industrial subcontracting event in Southeast Asia, SUBCON Thailand 2018, during May 16-19, 2018 in Bangkok. Over 40,000 foreign and local visitors from various industries, including automotive, electronics, and machinery sectors, attended the fair and there were over 7,200 business matchings which led to business transactions worth approximately 12.7 billion Baht.

In June, representatives from BOI, public and private sectors as well as academia in biotechnology from Thailand, attended the BIO International Convention (BIO 2018) in Boston to showcase Thailand's capabilities in biotechnology sector. At BIO, over 16,000 biotechnology and pharma leaders meet to discover opportunities, network and explore the biotechnology and life sciences sectors, learn, share and collaborate.  Also the BOI, in collaboration with Thailand Center of Excellence in Life Sciences (TCELS), organized a seminar on investment opportunities for North American companies in Thailand.

Below, we've shared several news stories which demonstrate the range of FDI activity currently taking place in Thailand. We hope to connect with you in the coming months. Enjoy!

Tanita Sirisup
Director
Thailand Board of Investment, North America
nyc@boi.go.th

 

 
     
     
THAILAND'S FDI EXPANSION NEWS
 
 

U.S. – ASEAN Business Council (USABC) Paid a Courtesy Call on Prime Minister
On June 28th, at Bhakdi Bodin Building, Government House, a group of businessmen from U.S. – ASEAN Business Council (USABC) paid a courtesy call on Prime Minister Gen. Prayut Chan-o-cha and members of the cabinet on occasion of their visit to Thailand.

Thailand Board of Investment Approves Incentive Scheme for "Smart City" and High Quality Housing for Better Living
The Thailand Board of Investment (BOI) has approved investment incentive schemes for "Smart City," an initiative that will employ advanced IT systems and innovations to improve quality of life. The board has also agreed to promote high standard housing for better quality of life of workers, and agreed to extend the promotion period for investments in 10 Special Economic Zones (SEZs) to the end of 2020.

Thailand Growth Surges to Five-Year High as Exports Climb
Thailand's economic growth surged to a five-year high last quarter, beating all economists' estimates as rebounding farm output added to gains from exports and private consumption.

THAI and Rolls-Royce to Collaborate on Expansion of Trent Engine Service Network
Thai Airways International Public Company Limited (THAI) and Rolls-Royce held a signing ceremony of cooperation towards the establishment of the engine maintenance, repair, and overhaul (MRO) Center, which was presided over by Mrs. Usanee Sangsingkeo, THAI Acting President, and Mr. Chris Cholerton, Rolls-Royce President – Civil Aerospace.

Airbus and THAI sign agreement to proceed with joint venture MRO
Airbus and Thai Airways International (THAI) have signed an agreement to establish a new joint venture maintenance and overhaul (MRO) facility at U-Tapao International Airport near Bangkok.

Mitsubishi Motors Thailand Officially Opens Training Facility in Pathum Thani
Mitsubishi Motors Corporation (MMC) announced today that Mitsubishi Motors (Thailand) Co., Ltd. (MMTh), its exclusive producer and distributor in Thailand, has officially opened a new training facility, the Education Academy, in Pathum Thani. This is another example of the extensive effort the company is making to pursue the very best customer service.

Fourth Annual Huawei Asia-Pacific Innovation Day: Innovating for a Digital Asia-Pacific
The fourth Huawei Asia-Pacific Innovation Day was held in Bangkok on June 6, 2018. Co-hosted by Huawei Technologies and the Thai Ministry of Science and Technology, the theme of this year's event was "Innovate for a Digital Asia-Pacific". Nearly 300 attendees from governments, industry, and academia gathered together to explore how digital infrastructure accelerates the growth of digital economy, enriches life, drives innovation, and helps cultivate an ecosystem of shared success.

Alibaba Group and the Government of Thailand Enter into Strategic Partnership in Support of Thailand 4.0
At a ceremony witnessed by the Deputy Prime Minister of Thailand, His Excellency Dr. Somkid Jatusripitak, China's Ambassador Extraordinary and Plenipotentiary to Thailand, Lyu Jian, and the Executive Chairman of Alibaba Group, Jack Ma, the Government of Thailand and Alibaba entered into a strategic partnership to drive the development of Thailand's digital economy and the Eastern Economic Corridor under the Thailand 4.0 policy. Under this partnership, agencies of the Thai government and business units of Alibaba will work closely together in a number of areas, including e-commerce, digital logistics, tourism and training.

Thailand Sees Bright Future for Electric Vehicles
Thailand's Office of Industrial Economics Director-General Siriruj Chulakaratana tells the English-language Bangkok Post newspaper EVs are poised to drive the local automotive industry because retail EV pricing and technology costs are expected to decline.

BMW to push PHEVs in Thailand
Christian Wiedmann, president of BMW Group Thailand, said the German carmaker would continue churning out new models of its electric vehicles (EVs) due to confidence in the global market expansion, with Thailand included.

Toyota to begin battery production for hybrid cars in Thailand in 2020
Toyota Motor Corp. will establish a production base for hybrid vehicle batteries in Thailand, aiming to start operations at the beginning of 2020. Toyota is rushing to enhance production capacity for electric car batteries as it aims to sell a total of 4.5 million hybrid and plug-in hybrid vehicle units in 2030.

UL opens equipment-testing lab in Samut Prakan
Global safety-science organisation UL has opened a laboratory in Samut Prakan to serve as its regional hub, with cutting-edge equipment for testing appliances, heating, ventilation and air-conditioning (AHVAC) systems.

 

 
 
 
  About BOI

The Thailand Board of Investment (BOI) is the 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 business succeed in Thailand.

For more information, please visit www.thinkasiainvestthailand.com