New York, United States
Thailand is an attractive destination for foreign investment
Southeast Asia’s second largest economy, Thailand has undergone significant economic progress over the past few decades and has also introduced a number of business regulation reforms resulting in a considerable improvement in its World Bank’s Doing Business ranking.
Located centrally in the heart of the Greater Mekong Subregion, Thailand is a regional and global manufacturing hub for vehicles, automotive components, consumer electronics, and processed food & beverages. It facilitates trade among the dynamic markets of China, India and the emerging ASEAN markets.
A founding member of ASEAN, a member of the Asia-Pacific Economic Cooperation (APEC), the Asia-Europe Meeting (ASEM) and the World Trade Organisation (WTO), Thailand is pushing ahead with its economic transformation. It has recently introduced “Thailand 4.0”, an economic model aimed at addressing its current challenges with a number of “new growth engines”. This includes focusing on innovation, sustainable development and investment in ten target industries.
Of the ten target sectors, five are existing industries which require ongoing investment and innovation (next-generation automotive, smart electronics, tourism, advanced agriculture & biotechnology, and food processing), and five are still to be developed (digital, robotics & automation, aviation & logistics, biofuels & biochemicals, digital, and medical centers).
Helping clients realise opportunities in Thailand’s existing and emerging targeted industries, the King & Wood Mallesons Thailand CloudOffice offers clients rich experience in M&A, cross-border investment, finance, compliance and dispute resolution.