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About Thailand

With a GDP of US$ 406.8 billion, Thailand is the world’s 32nd largest economy and the second largest economy in South East Asia. Its economy expanded by 3.2% in 2016, and the government estimates that growth in 2017 will be between 3.3 and 3.8%. The economy is expected to be driven by government spending and improved exports in 2017.

Thailand’s economy is well diversified and competitive. The country offers a favorable business environment owing to its open, market-oriented economy, efficient regulatory system, relatively low tax rates, and open policies towards investment and trade.

Population: 68.2 million
Inflation Rate: 0.2%
Currency: Thai Baht (THB)
Ave Exchange Rate: THB 35.4 : US$ 1
Imports: US$ 194.7 billion
Exports: US$ 215.3 billion
GDP: US$ 406.8 billion
GDP per capita (PPP) US$ 16,800
Real GDP Growth 3.2%
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INDUSTRY REPORTS

This report is designed to provide an overview of the medical technologies sector in Thailand. The sector is expanding, thanks to a combination of rising income, aging population, nationwide health care access, and a foreign-friendly regulatory environment. Thanks to the government’s ass...

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This report is designed to provide an overview of the smart cities sector in Thailand. The country has been making strides in its pursuit to develop smart cities with the launch of its “Thailand 4.0” national policy that will play a key role in driving the government’s econom...

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Thailand Country Profile

The report offers a wide range of data and information collected from various sources that were built together in order to provide not just facts but deeper insights about the country. Unlike other country reports that focus more on macro-economic data, we think that the most valuable part of ...

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Thailand faces many challenges in the water and wastewater sector. Potable water accessibility is a critical issue in Thailand. Less than half of urban households have properly piped water source, while 62% of the rural population obtain untreated water from rivers, canals, ponds or sometimes ...

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ECONOMIC NEWS

Thailand To Temporarily Waive Visa-On-Arrival Fee For Tourists From 20 Countries

Thailand  -  November 2018

In early November 2018 Thailand decided to waive the THB 2,000 (USD 83.50) visa-on-arrival fee for tourists from more than 20 countries, notably from China, in order to boost the tourism sector. The number of tourists enterinh Thailand through Suvarnabhumi Airport declined from 3.1 million in 2016 and to 2.2 million in 2017 and from January to September this year the number stood at 1.7 million. It is hoped the visa-fee exemption from December 1 till the end of January will attract 30% more tourists.

The decision arrives at the same time that Thailand Deputy Prime Minister made a deal in Shanghai with Chinese e-commerce giant Alibaba to help promote Thailand as a tourist destination to Chinese people. Earlier this year, in April, a memorandum of understanding was signed between Tourism Authority of Thailand and Zhejiang Fliggy Network Technology Company Limited, a travel brand of Alibaba Group, aims to systematically promote Thailand tourism in secondary provinces of China by utilising Alibaba’s online platforms to run marketing activities such as reservations for rooms, tickets and vacation packages around the world, helping to draw more international visitors to the country. 

On November 11, when China celebrated "Singles Day", Alibaba launched a 20-second video on its website to encourage Chinese tourists to travel to Thailand. The targeted audience of the video were as many as 800 million Chinese people.

(Source: The Straits Times)

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ICT

Vertiv Opens Facility To Develop Turnkey Data Centers In Thailand

Thailand  -  November 2018

Vertiv announced in October 2018 the opening of its newest IT facility in Thailand. The facility, situated in the industrial area of Rayong, will focus on developing turnkey data centers for customers in the Southeast Asia region. Situated in a sprawling area of 84,000 square meters, the facility is fully equipped with a clean room that can fit 10 modules simultaneously to accommodate multiple projects, as well as a hard stand area to allow customers to preview the products before delivery.

Vertiv claims to have a unique collaborative design-build process which delivers 0.5-30+ MW capacity for greenfield or brownfield sites that is deployed up to 50% faster than traditional construction.

The company said Rayong was chosen as the site because of the available land area that’s conducive to supporting large critical application builds. In addition, Thailand also has a skilled workforce of engineers that support Vertiv’s need for building turnkey data centers.

The Thailand government’s emphasis on technology and IT infrastructure and companies moving down the digital transformation path, is driving increasing demand for data centers and cloud computing in the country. A THB 10 billion (USD 312 million) Digital Innovation Park is an example of government initiatives under Thailand 4.0. Thailand’s location as a potential access hub to the Greater Mekong Subregion (GMS), which includes Cambodia, Laos, Myanmar, Thailand, Vietnam and a small part of China, is also expected to drive demand for data centers in the future.

(Source: Vertiv; DBS Asian Insights)

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ENERGY

Pöyry To Provide Technical Advisory For Thailand's Largest Combined Cycle Gas Turbine P...

Thailand  -  November 2018

Gulf Energy Development Co., LTD (GED) and Mitsui & Co. Ltd, who jointly own the project for Thailand's largest proposed combined cycle gas turbine (CCGT) have awarded Pöyry, a Finnish consulting and engineering firm, with a technical advisory services assignment. The 2,500 MW project, consisting of four generating units with each having 625 MW generating capacity, will be located in Sriracha District, Chonburi Province, Thailand.

Pöyry acts as Lenders Technical Advisor in the project, including technical due diligence, construction monitoring and operation monitoring. The commercial operation date (COD) for the first unit is projected to be in March 2021, with the second to fourth units expected to reach COD in October 2021, March 2022, and October 2022, respectively.

The new power plant is expected to be the cleanest and most efficient CCGT plant in Thailand. The power plant will comply with the environmental and social standards and the International Finance Corporation (IFC) - Performance Standard, reducing its environmental and social impact beyond the Thai National Standard requirements. It will also help to ensure reliable and cost-effective power within the country, and support Thailand's goal to develop the special economic zone in the same region - the Eastern Economic Corridor.

(Source: Pöyry, Press Resease)

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MEDICAL

Thailand’s Bumrungrad Hospital Invests USD 3 Million In Medical App Developer

Thailand  -  November 2018

Thai private hospital Bumrungrad Hospital has announced that it will acquire a 30 per cent stake in Singapore-based medical app developer iDoctor. According to the  Stock Exchange of Thailand the purchase is set at USD 3 million. iDoctor’ founder will own the remaining 70%stake after the share transfer is completed.

Founded in 2016, iDoctor Pte Ltd designs and develops software and mobile applications for medical industry. iDoctor's Raksa app allows patients to consult experienced, certified Thai doctors from ome of the best hospitals in Thailand and the US, including Bumrungrad, Samitivej, Rama, Mahidol, Phramongkutklao, Khon Kaen, Boston Children's, St Jude's etc. 



Bumrungrad’s managing director said that the deal offers an opportunity for the hospital to expand its business into the digital market. As one of the largest private hospitals in the region Bumrungrad plans to fund this investment with its internal cash flow.

(Source: Dealstreetasia; The Stock Exchange of Thailand)

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ENVIRONMENT

Smart Grid Pilot Project Being Developed In Mae Hong Son Province

Thailand  -  November 2018

On October 25 the Electricity Generating Authority of Thailand (EGAT) and the country’s Provincial Electricity Authority (PEA) signed an MOU to study technical aspects of s Smart Grid Pilot Project in Mae Hong Son Province. The project aims to enhance the generation and distribution systems of renewable energy.

The technical areas that will be studied include:


  1. Battery energy storage system (BESS) linkage to PEA distribution system in Mae Hong Son Province by following the engineering standard and grid code as well as determining the working of BESS in islanding mode status

  2. Related preventive and control systems in Mae Hong Son Province to support the transition from grid connection to islanding mode

  3. Data exchanging including protocol for communication, connection point, and data applying for improving the working process

  4. Test and control of smart grid system, such as islanding mode, BESS connection, and proposing guidance for developing the system potential to be suitable for the local area.

The smart grid will be controlled by an EGAT-designed controls system. The announcement comes just a year after that EGAT announced battery energy storage to be a 'new dimension' for the management of electricity.

(Source: EGAT, Press Release)

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INFRASTRUCTURE

Additional Tax Incentives To Support Infrastructure Development In The EEC

Thailand  -  November 2018

Thailand’s Board of Investment (BOI) has launched an investment incentive scheme aimed to increase investors' confidence related to the Eastern Economic Corridor (EEC). New incentives apply for the U-Tapao Airport’s Passenger Terminal 3 and Digital Park Thailand (EECd) development projects, two among six major development projects in the EEC.

With the biddings for the development of both projects planned for late 2018, BOI has offered the incentive scheme to attract more investors to participate in the biddings. For the U-Tapao Airport’s Terminal 3 development project, the bidding winner will be granted exemption of import duty on machinery and 8-year corporate income tax (CIT) exemption. In case the developer has cooperation with an educational institution to develop human resources, the BOI will grant 50% reduction of CIT for another three years under the EEC investment incentive scheme.

Concerning the bidding winner of the Digital Park Thailand or EECd, BOI will grant import duty exemption on machinery and CIT exemption for eight years. The investment project including cooperation with the educational institution to develop human resources will enjoy an additional four-year tax holiday.

The U-Tapao Airport’s Terminal 3 is part of the Aerotropolis development project, which includes the construction of a USD 7.1 billion (THB 233 billion) Passenger Terminal 3 which will increase the airport’s passenger handling capacity from 5 million passengers to 22 million passengers in 2033, and increase flight handling capacity from currently 25,000 units per year to 120,000 aircraft per year by 2033. When completed, the project will cover additional passenger terminals, cargo zone, cargo & logistics village, commercial gateway, MRO zone, and the aviation training center.

Other infrastructure development related to the EEC includes the construction of the USD 6.8 billion (THB 224 billion) high-speed train linking the three airports -- Don Mueang Airport, Suvarnabhumi Airport and U-Tapao, the USD 4.7 billion (THB 155 billion) development of Laem Chabang Port Phase 3 which increases container throughput from 7.7 million TEUs per year to 18.1 million TEUs per year, and USD 306-million (THB 10.1 billion) Map Ta Phut Port Phase 3 which be able to handle 19 million additional tons of cargo (petrochemicals and natural gas) upon completion. The development of U-Tapao Airport, high-speed train, Laem Chabang Port, Map Ta Phut Industrial Port and MRO Center are included in the Public-Private-Participation (PPP) fast track program which shortens bidding process from 40 months to 8-10 months.

(Sources: Thailand Business News; Board of Investment, Thailand)

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MANUFACTURING

Toyota Thailand Brings Forward Schedule of Battery Plant

Thailand  -  November 2018

Toyota Motor Thailand has decided to move up the start of its battery assembly in Chachoengsao province to mid-2019, up from early 2020. This is part of the company’s total investment of THB 19 billion (USD 0.6 billion)  for hybrid electric vehicles (EVs) at the Gateway plant in Chachoengsao.

The battery assembly plant is expected to produce a nickel metal hydride (NiMH) version that Toyota's hybrid EVs sold in the Thai market have to use. 

Toyota is the first vehicle manufacturer to win BOI privileges Under the government's EV scheme, and start local production at the Gateway plant. According to the Thai The Board of Investment (BOI), Toyota plans to assemble 7,000 hybrid EVs a year, making 70,000 batteries for EVs and producing other parts such as doors and bumpers. 

(Source: Bangkok Post)

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DEFENSE / AEROSPACE / AVIATION

Arturius And DTI To Build Counter Threat COE In Thailand

Thailand  -  November 2018

A leading British security and defense company, Arturius International, will build a Counter Threat Centre of Excellence (COE) in Thailand in cooperation with Defence Technology Institute (DTI), a Thai state organization. DTI and Arturius plans to collaborate in order to evaluate and assess the threat landscape faced in the country, as well as developing policies and evaluating the optimal training and technology needs.

The COE will bring together counter-terror, counter improvised explosive device and counter unmanned aerial systems facilities to develop understanding and resistance strategies in collaboration with military partners and academic institutions. It will help conduct research and development into emerging counter threat technologies and provide advanced training and equipment instruction to Thai security personnel. It will also support the development and implementation of new policies, concepts, strategies and doctrines. 

(Sources: www.army-technology.com; Defence iq)

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RETAIL / FMCG

Thai Commerce Ministry Launching App To Assist Traditional Stores

Thailand  -  November 2018

The Thai Ministry of Commerce has announced that it will launch a new application to connect traditional grocery stores directly with their suppliers by December. The application will allow bypassing middlemen, reducing costs, and increasing competitiveness of traditional grocery stores through e-commerce.

The ministry expects up to 100,000 traditional grocery stores to use the new application by the end of 2018.

The new application will also leverage the growing e-commerce industry in the Thai market to deliver products from suppliers to traditional grocery stores.

(Source: Thai Visa News)

Companies

1   customized agent   distributor search

Customized Agent/ Distributor/Reseller Search

Having completed over 1000 customized agent/distributor/reseller searches for our clients over the years, this is one of the most popular trade services that we offer to potential clients. Typic...

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5   sourcing services

Sourcing Services

There is a growing interest in sourcing for products from South East Asia for strategic and competitive reasons. Companies from around the world are looking for suppliers in Malaysia, Thailand, ...

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4   business incorporation   site selection

Business Incorporation/ Site Selection

We counsel businesses on where to locate their office and industrial operations and what the optimal business structure should be to meet local government and tax requirements. Some of the quest...

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3   market research

Market Research

To successfully export your products or services, you need to learn about your customers, your competitors and your industry. Our market research process starts off with brainstorming effective ...

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2   trade show support

Trade Show Support

Many companies participate in trade shows hoping to find customers or local agents or distributors. However, they come away from these events with less than desired results. But with our trade s...

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6   additional services

Additional Services

Based on past experience in helping companies that are looking to grow their exports to one or more markets in South East Asia, we have found that some of these additional services that we offer...

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Economic Development Agencies & Trade Associations

7   trade mission organization

Trade Mission Organization

Visiting a market to meet with prospective customers or partners is essential as business is built on developing personal connections and understanding the local culture. Traveling ...

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2   trade show support

Trade Show Support

Trade shows can be an excellent option for companies and trade organizations to make key business and industry connections overseas. But to maximize the benefit of participating in ...

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8   trade representation

Trade Representation

With over 20 years of experience providing dedicated representation in South East Asia to economic development organizations (EDOs) from North America and Europe, we offer EDOs the ...

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3   market research

Market Research

Our strong track record in performing a targeted analysis of specific industry sectors in multiple markets has helped many economic development organizations (EDOs) to develop strat...

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9   investment attraction

Investment Attraction

Attracting investment from overseas can mean new or retained jobs in your area. Our investment attraction support services will position your economic development organization (EDO)...

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6   additional services

Additional Services

Having worked with government agencies and trade associations for over 20 years, we also provide a range of additional services customized to the requirements of these organizations...

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COMPANIES SEEKING AGENTS/DISTRIBUTORS/RESELLERS IN Thailand

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eSentire

Canada
Others
Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam
eSentire delivers Managed Detection and Response (MDR) wh...
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Leonovus Inc.

Canada
Others
Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam
Leonovus is the cloud solutions software developer of a b...
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nanopay

Canada
Infocomm Technologies (ICT); Others
Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam
nanopay’s technology improves methods for speed, cost, se...
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ClaroNav Kolahi Inc.

Canada
Medical
Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam
NaviEnt is a simple, accurate and affordable Ear Nose Thr...
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Ramsoft Inc

Canada
Medical
Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam
Customizable and flexible radiology software solutions, P...
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Theralase® Technologies Inc

Canada
Medical; Others
Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam
The therapeutic laser is used to eliminate pain, reduce i...
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