The investment landscape in Thailand for 2024 and beyond presents both challenges and opportunities. The Thai Government has introduced attractive schemes and incentives for potential investors, particularly those registered under the Eastern Economic Corridor (EEC) initiative and the S-Curve industries. The Eastern Economic Corridor (EEC) is a significant development project aimed at driving growth in Thailand. It encompasses a vast area spanning three eastern provinces of Thailand: Chachoengsao, Chonburi, and Rayong. The EEC initiative focuses on promoting investment in key sectors such as advanced technology, innovation, aerospace, biofuels, and digital industries. Through this initiative, the Thai Government aims to enhance infrastructure, attract foreign investment, and stimulate economic development in the region, positioning Thailand as a hub for advanced industries in Southeast Asia. there have been numerous investments made, such as:
The Thai government has identified 12 industries for promotion and support to drive advancement within the country. These projects have progressed through various stages of construction, contributing significantly to the economic growth of Thailand. These industries are:
Juslaws & Consult specializes in providing legal advice and assistance for businesses operating within the 12 targeted industries promoted by the Eastern Economic Corridor. Our team of international and Thai lawyers brings extensive experience in dealing with foreign investments, ensuring comprehensive support for clients navigating the complex legal landscape of these industries.
Thailand's brand-new industrialized, emerging market economy has garnered attention from international investors who recognize the country's robust growth rates. Fueled by a steadily growing population and expanding global exports, Thailand's economy presents lucrative opportunities for investors seeking dynamic markets with potential for substantial returns.
While Indonesia has the largest economy in Southeast Asia, Thailand is a close second. Per capita, however, it only ranks fourth. Its GDP growth falls to around 4% to 5% per year, which gains a lot from its strong automotive industry and its significant rice and agriculture exports.
Unfortunately, the pandemic largely disrupted these practices, along with domestic consumption (general and wellness), tourism industry, and trade. Regardless, the GDP managed to recover during the course of 2022.
Real Estate Business
Buying and selling land in Thailand is a great way to grow investments. The cost of real estate is constantly rising, which ensures that a real estate company will continue to earn revenue for its investors. Having a competent Thai team to deal with Thai owners while an international team deals with foreign investors is a recipe for success in this industry.
Import and Export Business
Thailand is a major transportation hub in South-East Asia which makes it a great trading post with other countries. Some of the top companies in this area that often attract foreign investors include precious metals, mineral fuels, rubber industry, raw materials, smart electronics, and electrical machinery. Having a successful import and export company can be a great investment opportunity in Thailand. Still, while foreign investment in this sector can be excellent, it is difficult to establish the necessary licenses in the private sector.
IT Business
Most Thai companies now understand that business takes place in the digital world. Especially if they want to do business with foreign companies. This has resulted in a rise in popularity of investment in the digital industry and things like cloud security which some believe will see the highest growth throughout the industry. The entire business community requires some kind of IT service, and this has also meant that consulting companies are also in demand lately. Even marketing on digital platforms has become exceedingly popular and is often the key factor in the economic growth and success of a company.
Catering Business
A significant part of Thai population relies heavily on food and eating. Street food is extremely popular, and even food delivery is becoming a good investment option. Catering companies are a great way to take part in investment and to immerse yourself in the Thai culture along with local people. Modern apartments in areas like Chiang Mai and Bangkok are not well equipped for home cooking, which means that there is a lot of market for a catering business. Reliable catering is also essential to the hotel business and to public health.
