Why Choose Thailand in Setting Up An Overseas Business

Thailand is not only famous for its best travel destination, but it is also the best and recommendable location when it comes to setting up a business. Recently, independent traders and international companies discovered the advantage of company registration in Thailand.

GROWING ECONOMY

Thailand is rich in natural resources. The country receives an abundant source of teak wood, timber, precious stones, and fisheries. Due to these reasons, Thailand makes use of these valuable resources to become one of the Tiger economies as it tremendously grows in the early 1990s.

As an evidence of their growing highway system, provinces in Thailand are connected by modern roads and mass transit. They also made it possible to connect even to other neighboring countries like Cambodia, Burma, Vietnam, Laos, and Malaysia.

They already have wifi and broadband access all throughout the country. They also continuously set development plans for the next few years including high-speed railway system that would connect going to southern China and specific directions in Thailand.

INDUSTRY

The nation may be small compared to other neighboring countries in Southeast Asia, however, it is considered as a giant when it comes to the exportation of rice, jewelry, textiles, electrical appliances, and other major products. 60% of their Gross Domestic Product mainly came from the exportation of different products all over the world.

The Thailand Board of Investment also offered a wide range of tax incentives and support services to investors who meet their national development standards.

WAGES

Compared to the Western countries, Thailand has a lower wage. Wages vary according to the worker’s experience and skill. They require a maximum 8 working hours per day but they can still work more than the required time as long as they receive a proper compensation.

Building a company in Thailand is a cost-effective way to encourage foreign investors to join the business venture and invest in the country.

POPULATION

The population of Thailand is comprised 68 million people including different ethnic minorities like Indian, Chinese, Lao, and Cambodia. These minorities have different skills that can be desirable for all types of companies. They contribute to a strong and skillful workforce to enable the country to prosper consistently.

LOCATION

Being the “gateway into the heart of Asia,” it provides a good trading to other neighboring countries like India, China and other countries that are members of Southeast Asian Nations or ASEAN. It is also a great chance for the companies to have an easy access going to the sub-region of Greater Mekong, which is a place of emerging markets.

Thailand is perfectly located at the crossroads of Asian countries which could be a way to enter the dynamic markets. Its productivity leads the country into being an advocate of the fair trading system until its trade agreement with other international companies grows rapidly.

LANGUAGE

Thailand’s major universities required the studies of Business English to ensure that employees can clearly and effectively communicate using the English language. Their primary purpose is very clear - to make doing business with international countries easier and break the barrier between different languages all over the world.

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