BOI Thailand
M A R C H - A P R I L   2019
 
     
   
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
 
             
                     
 

 

The first three months of 2019 have seemingly flown by, and as summer approaches, BOI has some exciting events ahead to update you on.

In the beginning of February, Thailand ranked first for mobile banking users, second for ownership of cryptocurrency, and third in mobile commerce, according to the Global Digital Report 2019 which includes insights into more than 230 countries and territories around the world. To stimulate targeted industries, including the Thai digital economy, and accelerate economic growth in the Kingdom in 2019, BOI has launched a new incentive package that celebrates the “Thailand Investment Year”. BOI has set a target for 2019 of $750,000 million baht or about $23.6 million USD after exceeding our investment goal last year.

In April, BOI will participate in MRO Americas 2019 in Atlanta, Georgia to showcase Thailand’s MRO sector. While in Atlanta, BOI will hold a seminar titled “Thailand Investment Year - What's NEW?” on Thursday, April 11, 2019 at the Westin Peachtree Plaza Hotel. The discussions and content of the meeting will focus on the new investment measures and government support for companies looking to establish operations in Thailand.

Below, we’ve shared several news stories which demonstrate the range of FDI activity currently taking place in Thailand. We look forward to connecting with you soon!

Vorawan Norasucha
Director
Thailand Board of Investment, North America
nyc@boi.go.th

 

 
     
     
THAILAND'S FDI EXPANSION NEWS
 
 

BOI nets flood of EV Interest
In March 2017, the government kicked off EV promotional privileges for car and auto parts makers covering three types of EVs: hybrid, plug-in hybrid and battery. The privileges include tax holidays of 5-8 years and import duty exemptions for cars and machinery.

Thailand Software Spending to Reach B40.9bn
The software market in Thailand is expected to be valued at 40.9 billion baht in 2019, representing growth of 7.6% from 38.1 billion last year, according to International Data Corporation (IDC).

Assessing the Top 10 Tech Trends in Thailand
The analyst firm IDC predicts that by 2022, over 61 per cent of Thailand’s GDP will be digitalized, with growth in every industry driven by digitally enhanced offerings, operations, and relationships, driving US$72 billion in IT-related spending from 2019 through 2022.

IBM to Use IoT, Watson and Data to Boost Sugar Cane production in Thailand
Big Blue announced a two-year research collaboration with the Thailand government’s National Science and Technology Development Agency (NSTDA) that will use IBM’s Internet of Things (Iot), artificial intelligence (AI) and analytics capabilities to help improve sugarcane yields in Thailand, the world’s second largest exporter of sugar. The pilot will run on three sugar cane farms covering 1 million square meters run by Mitr Phol, Asia’s largest sugar producer.

Triumph Group to Partner with Thailand’s CATC to Foster Aviation Training Development in Southeast Asia
Triumph Group, Inc. announced that its southeast Asian businesses, Triumph Aviation Services Asia (TASA) and Triumph Structures - Thailand (TST), have signed a comprehensive Memorandum of Understanding (MOU) with Thailand Civil Aviation Training Center (CATC), to work together to foster professional development of aviation talent in Thailand.

Airbus and Thailand’s CATC to Work on Pilot, Maintenance Training
Airbus and Thailand’s Civil Aviation Training Center (CATC) today signed a Memorandum of Understanding (MoU) to work together on projects to develop and implement maintenance training and pilot training courses in the country.

Scania Starts Industrial Operations in Thailand
Scania is strengthening its presence in Thailand and Asia, with a new assembly facility for trucks and bus chassis in the Bangkok Free Trade Zone. The new factory, which also holds a manufacturing facility for truck cabs, is the biggest investment in production that Scania has made outside Europe and Latin America.

Ducati Opens New Training Center in Thailand
Ducati has inaugurated its new training center at the Ducati factory in Rayong, Thailand. Ducati's Rayong factory is where most Ducati bikes sold in India are manufactured. The state-of-the-art facility is built and conceived with the aim of further enhancing the level of customer experience in every aspect within all Ducati dealerships in the Asia Pacific region, a statement from Ducati said.

 

 
 
 
  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 or www.boi.go.th