Dear Partners, Colleagues, and Friends,

Greetings from the Thailand Board of Investment New York office! We hope that you are enjoying your summer and reconnecting with family and friends. 

We’re excited to share our latest update with you:

I am pleased to report that economic growth improved in the second quarter of 2022. This includes growth in exports, an increase in private consumption, private investment, and gains in the tourism sector. 

As per Thailand’s investment climate, the BOI received 784 applications for investment projects during the first six months of 2022, an increase of 4% from the previous year with a combined investment value of 219.7-billion-baht ($6.2 billionUS). Investment applications from our targetted industries accounted for 70% of the total investment value in the first half of the year, with 358 projects worth a combined 153.5 billion baht. This shows that foreign investors are confident in Thailand’s growth outlook.

Did you hear that we jumped up in our ranking in the 2022 Best Digital Nomad Cities? Bangkok was ranked 2nd best place to be a digital nomad! To add to our other competitive advantage, Thailand ranking # 1 as the best city for a “workation” among 150 cities around the world from the Workation Index: Best city for a workation. 

The Thai government remains committed to creating a world-class investment ecosystem and has created a range of investment incentives and development policies to support growth. In early September, the BOI recently approved Thailand’s new 10-year long-term resident (LTR) Visa. This will attract a fresh pool of foreign talent that will drive economic activity and ensure that new young talent is always entering the workforce.

The visa is available for remote workers, highly skilled professionals, pensioners, and wealthy global citizens who receive a range of benefits including tax exemption for overseas income, permission to work locally, and fast-track service at international airports throughout Thailand. For further information, please join our webinar “Thailand's Digital Ecosystem with Special Measure Under Long-Term Resident Visa (LTR)” to learn about investment opportunities and gain an understanding of how we incentivize investment projects on September 28th. 

You’re also invited to join this upcoming event that we will be hosting: APEC Economic Leaders’ Meeting in Bangkok on November 18&19th. As the host of APEC 2022, we will bring a fresh perspective to ensure that APEC will achieve a more balanced, resilient, and sustainable growth.

We hope you find this newsletter informative. If you have any questions, please visit our website www.thinkasiainvestthailand.com

Have a wonderful Fall!

Ms. Janthapat Saichumin, Deputy Director