Presentation on theme: "Economic Outlook and Business Opportunities in Thailand by Mr"— Presentation transcript:
1 Economic Outlook and Business Opportunities in Thailand by Mr Economic Outlook and Business Opportunities in Thailand by Mr. Arin Jira, Vice Chairman, Federation of Thai Industries (FTI)28 March 2014At SOFOFA, Santiago,Chile
2 Thailand : Economic Outlook in 2013 and 2014 2013 (%)2014 (%)GDP Growth2.9Export of goods and services4.26.0Import of goods and services2.34.6Private InvestmentPublic Investment-188.8.131.52.3InflationThe World Bank ranks Thailand 18th out of 189 countries, according to the 2014 Doing Business Report.
3 Thailand : 2nd Largest Economy in ASEAN GDP US$ 385 billion (2013)GDP per capita US$5,64745% Industry43% Services12% AgriculturePopulation : 67 millionLabor Force: 40.2 millionGrowing EconomyStrong Export and a Vibrant Domestic Consumer Market2nd Lowest corporate income tax in South East Asia (20%)Sources: BOI, NESDB
4 Thailand: the Crossroads of ASEAN 10 Countries, One Single Market in 2015GDPUS$ 2.3 trillionPopula-tion607 millionFDIUS$ 111 billionGDP Growth5.7% (2011)6.4% (2012)5.2% (2013)ASEAN’s GDP to double to US$ 4.7 trillion in 2020.Source: BOI
6 Thailand Investment Promotion Policy No restrictions on foreign currency remittancesNo foreign equity restrictions in manufacturing sector and promoted service sectorNo export requirementsNo local content requirementsLiberal Investment PolicySource: BOI
7 Thailand’s Attractive Investment Incentives Tax Incentives:Import duty exemptions/ reductionCorporate Income Tax/ Exemption for 3 to 8 years.Additional 50% reduction of corporate income tax for up to 5 yearsDouble deductions for infrastructure construction /installation costs.Non-Tax Incentives:Land ownership rights for foreign investorsWork permit & visa facilitation