Thailand Board of Investment 2022
On 4 November 2022, the Thailand Board of Investment announced a package of investment incentives and measures including the following:
- a set of special privileges to support expansion by long standing investors;
- a comprehensive relocation program covering headquarters as well as research and manufacturing facilities;
- a first package for investment in sustainable activities (such as the manufacturing of hydrogen vehicles and the setup of electric vehicle battery swapping stations);
- premium incentives for industries involving innovation and high technology (such as biotech, nanotech and advanced materials);
- support measures for the research and production of novel food; and
- the addition of new economic corridors or special investment zones in four regions of Thailand.
The new incentives, measures and the addition are to support the 2023-2027 Investment Promotion Strategy announced in October 2022. They aim to help Thailand’s restructure of the economy and to ensure that Thailand is innovation, competitive, and inclusive post COVID-19.
Moreover, there is an introduction of a special mechanism to improve the ease of doing business in Thailand.
To learn more in details, please click here to read the BOI Press Release on New Incentives Announcement, published on November 4th, 2022.
The Australian-Thai Chamber of Commerce (AustCham Thailand) was the first Australian Chamber to be formed in the ASEAN region. It was established in 1977 with the charter to promote business relations between Australia and Thailand.
The Chamber acts as a contact and information point for Australian businesses in Thailand, Australian businesses wishing to trade with or invest in Thailand and similarly for Thai enterprises interested in doing business with or in Australia.
AustCham Thailand aims to provide quality and constructive input into the formulation of policies impacting on business (both by the Thai and Australian Governments), and their administration, and to contribute to the development of relations between the two countries.
Advance is AustCham Thailand’s monthly magazine. It provides information on a range of business and related issues as well as reporting on the Chamber’s activities.
Over 7,000 copies are distributed monthly to AustCham’s full database. Members are encouraged to submit articles for inclusion in the magazine, thus sharing (and promoting) their knowledge and expertise.
Bangkok International Associates (BIA)
BIA is a Bangkok based legal firm which has considerable experience in the provision of legal advice for both incoming and existing investors. One of the senior partners is Sathien (Dennis) Hemsin who was born in Bangkok and moved to Sydney where he received his Bachelor of Commerce degree from the University of New South Wales and his Bachelor of Law from the University of Sydney. He is admitted as a solicitor to the State of New South Wales and is a member of the NSW Law Society.
He returned to Thailand in 2004 and completed his Thai law degree from Chulalongkorn University in 2010. He joined BIA in 2007. He has written various articles on business law in Thailand. He is fluent in French, Thai and English and specialises in corporate and commercial law, joint ventures, investment law, real estate, land development, hotel resort condominium law and property funds.
Dollar Smart Global is an international payments solution provider that specializes in payments and collections across Asia, Africa and Australia. Our local & virtual banking solutions and payment network allow businesses to transfer funds internationally as well as providing individual customers with safe, fast and reliable online remittance services.
The team at Translationz provides professional translation and interpreting services. They have a proven track record of delivering high-quality Thai to/from English translations as well as other languages. Your translation will be delivered on-time and at competitive rates and we consistently provide superior customer service. The Translationz team is located across Australia, so whether you are located in Sydney, Melbourne, Brisbane, Canberra, Adelaide, Perth, Darwin or Hobart they have your language solutions covered. Please don’t hesitate to get in touch with them!