By Ms. Vorawan Norasucha, Director, Thailand Board of Investment New York Office (This is a part of "Investment Opportunities: Thailand's Innovation Ecosystem" webinar on May 13, 2021)
2. 2
Current Situation of COVID-19 Pandemic in Thailand
COVID
PERFORMACE INDEX
Thailand is ranked #4 in the world1
Source: 1. Lowy Institute (March 13, 2021)
2. CEOWorld Magazine (April 27, 2021)
3. Timeline of the government’s current plans for jab procurement this year, Bangkok Post (May 9, 2021)
Country with the Best
Health Care Systems 2021
Thailand is ranked #1 in ASEAN and
#13 in the World2
Updated Regulations on Entering Thailand
(As of April 29, 2021)
➢ Applied to all foreign visitors
“Quarantine for no less than 14 days”
➢ Required document
- COVID-19 Test (RT-PCR)
- Certificate of Entry (COE)*
- Medical insurance**
Thailand: 3-Stage Reopening Plan with
No Quarantine for Vaccinated Visitors
➢ From July 1, 2021
Phuket
➢ From October 1, 2021
Chonburi, Chiang Mai, Krabi, Phang Nga,
and Surat Thani
Chiang Mai
Chonburi
Surat Thani
Krabi
Phang Nga
Phuket
*COE can be applied here: https://coethailand.mfa.go.th/
**Minimum coverage of $100,000 covering COVID-19
4. 4
Thailand is also home to Innovation Centers and R&D
Centers of International Companies
Here are examples….
▪ DuPont Innovation Center
▪ Cargill’s Technology Application Center
▪ IBM Client Innovation Center
▪ Air Products Asia (Technology Center)
▪ ECOLAB Southeast Asia Regional Technical Center
▪ Dow’s Center for Advanced Analytical Technology
▪ Harley-Davidson University Asia Pacific
▪ Microsoft Innovation Center
▪ Zoetis (Thailand)
▪ Macdermid (Thailand)
▪ PTT-Schneider Electric Innovation Center
▪ Toyota Technical Center Asia Pacific
▪ Honda R&D Asia Pacific
▪ Nissan Motor Asia Pacific R&D Test Center
▪ Panasonic Appliances R&D Center
▪ LG Air Science Research Center
▪ Huawei’s 5G Ecosystem Innovation Center
▪ DHL Innovation Center
5. 5
Why Thailand?
STRATGIC LOCATION & EASY ACCESS TO MAJOR MARKETS
242 Million consumers
Within 1,000 km
645 Million consumers
Within 3,000 km
4.6 Billion consumers
Within 5,000 km
CLMVT
ASEAN
ASIA
China
India
Japan
Australia
Thailand
66 Million consumers
52 Million middle-class
consumers
THAILAND
Thailand Economic Indicators
GDP: US$ 501.8 Billion (2020)
US$ 547.0 Billion (2021f)
GDP per Capita: US$ 7,219.2 (2020)
US$ 7,849.1 (2021f)
GDP Growth: -6.1% (2020)
+2.3% (2021f)
Labor Force: 38.54 Million (2020)
Unemployment Rate: 1.7% (2020)
CPI: -0.8% (2020), 1.4% (2021f)
Export: US$ 226.7 Billion, -6.6% (2020)
US$ 251.6 Billion, +11% (2021f)
Import: US$ 186.9 Billion, -13.5% (2020)
US$ 220.5 Billion, +18% (2021f)
Source: NESDC Economic Report: Thai Economic Performance in Q4 and 2020 and Outlook for 2021 (Feb 15, 2021), Fiscal Policy Office (Apr 29, 2021)
ASEAN
6. 6
Why Thailand?
INTERNATIONAL TRADE AGREEMENTS
CLMVT
ASEAN
ASIA
RCEP
Recently Signed FTA in 2020
➢ Regional Comprehensive
Economic Partnership
(10 ASEAN countries + China + Korea
+ Japan + Australia + New Zealand,
which account for 30% of world
population (2.2 billion people) )
Highest Trade Volume FTAs
(2020)1
ASEAN
US$ 94.8
Billion
CHINA
US$ 79.6
Billion
JAPAN
US$ 50.6
Billion
Source: 1 Ministry of Commerce
7. 7
Why Thailand?
ROBUST THAI INDUSTRIES & GOVERNMENT SUPPORT
2nd
1st
11th
13th
2nd
Largest Food Exporter in the World1
and top exporters of products from cassava, pineapple, canned tuna, and rice
Largest Exporters of Air Conditioners & HDDs in the World
manufacturing base from small appliances and electronic products i.e. IC, PCB, and
semiconductors
Largest Motor Vehicle Producers in the World2
and the 5th largest light commercial vehicle producers in the world
Largest Producers of Petrochemical Products in ASEAN3
and the 16th largest producer in the world
Largest Pharmaceutical Market in ASEAN
and a fast-growing medical device market with highest international trade value of
medical devices in ASEAN
Source: 1 National Food Institute (February 18, 2021)
2 OCIA’s 2020 Production Statistics (https://www.oica.net/category/production-statistics/2020-statistics/)
3 Krungsri Research’s Industry Outlook 2020-2022: Petrochemicals (June 10, 2020)
▪ BOI is a government agency under
the Office of the Prime Minister
▪ Grant investment incentives
- Exemption of corporate income
tax up to 13 years
- Exemption of import duties on
machinery & raw materials
- 100% foreign ownership
- Permit to bring skilled workforce
- etc.
▪ Provides business support services
- Business matching with locals
- Sourcing parts
- SMART Visa
▪ Provide information and advice
on establishing operations in
Thailand
8. 8
Why Thailand?
INTERNATIONAL COMPETITIVENESS RANKINGS
Bloomberg’s Emerging Markets List 20211
Source: 1 https://www.bloomberg.com/graphics/2020-emerging-markets-recovery-ranking/ (Dec 16, 2020)
2 Bloomberg’s 2020 Economic Misery Ranking: : https://www.bloomberg.com/news/articles/2020-08-06/misery-ranking-will-show-u-s-
getting-worse-versus-rest-of-world (Aug 6, 2020)
Least Miserable Country for 2020 (Bloomberg)2
* ASEAN is an economic union composing 10 Southeast Asian countries: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam
9. 9
Why Thailand?
INFRASTRUCTURE TO SUPPORT
CLMVT
RCEP
Double Track Rail
251 km → 3,840 km
by 2026
High Speed Rail
220 km linking major
three airports (BKK –
DMK – UTP) by 2028
Laem Chabang Port
7.7m TEU → 18m TEU
by 2025
Map Ta Phut Port
5m tons → 10.8m tons by
2025 with new LNG
Terminals
Highway Length
99,974 km → 106,386 km
by 2036 (21 Routes)
Overland Border
Crossing
42 permanent checkpoints
51 temporary checkpoints
U-tapao Airport (UTP)
Expansion
3m → 15.9m passengers
by 2024
12 International /
26 Domestic Airports
Total 142m passengers
Fixed-Broadband
Speed Rank #1
308.35 Mbps
Double International
Bandwidth
12,318 Gbps Intl. B.W. &
8,666 Gbps Domestic
B.W.
Commercial 5G
Services
Ready in 2021
AREAS
TO SUPPORT
R&D AND
INNOVATION
10. 10
Why Thailand?
EASTERN ECONOMIC CORRIDOR (EEC)
Eastern Economic Corridor
of Innovation (EECi)
➢ Providing infrastructure and
innovation ecosystem
➢ Being scheduled to officially
open in 2021
➢ Focusing on target industries
including:
➢ Modern agriculture
➢ Biorefinery
➢ Industry 4.0
➢ Battery & modern
transports
➢ Aviation
➢ Medical devices
➢ Offering tax incentives and
privileges