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BOI Thailand
J U N E - J U L Y 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

Now that we’re finally in the summer months, BOI would like to update you on upcoming events and recent happenings in Thailand.

This summer, under the leadership of Thailand’s 29th Prime Minister, General Prayut Chan-o-cha, the government continues to invest in mega infrastructure projects that involve roads, rails, ports, and airports in addition to the development of the Eastern Economic Corridor (EEC), the driving force of Thailand’s economy. The country’s improved economic performance, government efficiency, and infrastructure development in the EEC, has moved the country five spots up to 25th place in the 2019 IMD World Competitiveness Rankings report. These improved rankings were mainly driven by increased cooperation between the government and the private sector to improve the efficiency of the investment environment, as well as higher spending on research and development activities.

On June 23rd, Thailand had the great privilege of hosting the 34th ASEAN Summit, with a theme of “Advancing Partnership for Sustainability.” As the theme suggests, the purpose of the summit is to boost unity among nations in the ASEAN region and forging closer ties. Part of the purpose of the Summit was also to turn the region into a ‘fully digital ASEAN.’

Lastly, we’re also excited to share that Mike Pompeo, U.S. Secretary of State, will visit Bangkok during the ministerial meeting of the ASEAN bloc, which will take place between July 29th through August 3rd. His visit will recommit the United States in supporting the development of Southeast Asian nations.

Below, we’ve listed additional news stories which demonstrate the range of FDI activity currently taking place in Thailand and other major announcements out of the Kingdom. 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

	Thailand advanced five places to 25th position in the World Competitiveness Rankings Thailand has moved up five spots and ranked 25th in the 2019 IMD World Competitiveness Rankings report, which rated global economies for their economic performance, government efficiency, business efficiency, and infrastructure development.
	Tyson Food Completes Acquisition of Thai and European Businesses from BRF S.A. Tyson Foods, Inc. (NYSE: TSN) announced today the successful completion of the acquisition of the Thai and European businesses from BRF S.A. The purchase includes four production facilities in Thailand, and one each in the Netherlands and the United Kingdom. These businesses build on the companyย’s growth strategy to expand offerings of value-added protein in global markets.
	WeWork Enters Thailand WeWork ย– a platform for creators that provides space, community and services to help people build a life, not just a living ย– announced on Wednesday that it was officially entering Thailand with the introduction of WeWork Labs in Bangkokย’s Asia Centre Building on Sathon Road and T-One Building on Sukhumvit Road.
	Tim Hortons Announces Agreement to Launch in Thailand Tim Hortons announced today that it has entered into an exclusive master franchise and development agreement to develop the Tim Hortons brand in Thailand with WeEat Company, part of the Wattanavekin family group of companies.
	Ansell Ltd. Announces $32 million USD Investment in Thailand Facility Expansion Ansell Limited (ASX:ANN), a global leader in safety protection solutions, announces it will invest $32 million USD over the next two years to expand its Lat Krabang, Thailand manufacturing facility. The expansion allows the Company to increase plant capacity by 30% to address growing global demand for Ansell chemical protection platform products.
	Soft Landing in Thailand When it comes to staple products, the fiber inside fiber is about as essential as it gets. ย“Thatย’s our specialty,ย” said Tom Zaiser, CEO of FiberVisions, at an event convened in Atlanta in April by the Thailand Board of Investment. FiberVisions, based in the Atlanta suburb of Duluth, is a wholly owned subsidiary of Bangkok-based Indorama Ventures (IVL), and a leader in super-soft polypropylene staple fibers for items such as feminine hygiene products, baby wipes and baby diapers (half the disposable diapers in the world have IVL fibers). The $11 billion India-based Indorama parent corporation has more than 100 sites around the world.
	Thailandย’s Ambitious Plan for Aerospace Dominance The Thai government believes it can be a successful home for the aerospace industry, capitalizing on its central location in the heart of the Asia-Pacific and the massive growth in air travel and aircraft expected in the region.
	Thailand to Become 4th Largest Production base for EV Batteries in Asia The booming electric vehicle (EV) market in Thailand is increasingly evident in 2019 as a number of automakers have sought the Board of Investment (BOI)ย’s incentives to produce EVs here. KResearch forecasts that the EV market share in the next five years will increase to one-fourth, or 240,000 units, of the total car sales nationwide. Eco-hybrid cars and mild-hybrid vehicles are likely to accelerate the growth in the early stage.
	Subaru Begins Production of Made-in-Thailand SUVs for Southeast Asia Market This is Subaru's first plant outside Japan to fully produce its cars in Asia. Officially unveiled on Tuesday (Apr 23), the plant is a joint venture between Subaru Corporation and Hong Kong-listed Tan Chong International (TCIL), which holds a 74.9 per cent stake.
	EEC Committee Approves B1.5bn Genomics Center The Eastern Economic Corridor (EEC) Committee approved a plan to set up a genome sequencing facility worth a combined 1.5 billion baht aiming to raise Thailand's competitiveness in the medical industry, one of 12 targeted sectors promoted for the EEC.
	34th ASEAN Summit to Boost Unity Thailand recently hosted the 34th Asean Summit under the theme of "Advancing Partnership for Sustainability". As the Asean chair, Thailand wants to see member states forge closer ties on the basis of regional unity.

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