October 21, 2014
There are exciting changes taking place in Southeast Asia amid the recently announced establishment of the ASEAN community. The Prime Minister of Thailand has even met with members of 34 American firms from the US-ASEAN Business Council to discuss Thailand’s goal of promoting foreign businesses and investments.
With the approaching implementation of the ASEAN community (slated for 2015), American firms have expressed interest in investing in Thailand’s energy, infrastructure, information technology and medical tourism industries. In response to the measure, American firms are interested in Thailand serving as a hub for several industries, and other plans are in the works to discuss further additional ideas to protect resources and develop more employment for Thai citizens.
Thai and foreign investment interest has increased this year with a spike in investment applications. According to Reuters, “Most of the investment applications this year were from autoparts, medical equipment, power plant and renewable energy, including 1,057 projects worth over 102 billion baht.”
The U.S., Europe and other ASEAN partners are enthusiastic about investment opportunities in Thailand. In response to increasing investor interest, 96 Thai embassies and consulates worldwide are in the planning stages for the creation of a “Thai Corner” that would help increase Thailand’s exposure while exhibiting local products, under the “One Tambon, One Product” (OTOP), program.
The Thai people are working hard to gain the confidence of countries interested in these investment opportunities in the Land of a Thousand Smiles. We look forward to the implementation of this program and encouraging as well as helping our 200+ enterprise clients to participate as appropriate. For questions, contact email@example.com
Founder & CEO, Tiger-Consulting