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Overview

Improved regulatory framework supports ICT development in Thailand
OBG
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Thailand has seen tremendous growth in its technology sector in recent years and is now increasingly regarded as one of the industry leaders in South-east Asia. The government recognises the benefits that a vibrant ICT sector can have for the wider economy and plans to push ahead with a series of ambitious legacy projects. The state’s objectives for the sector are based around its Thailand…

Overview

Thailand continues to attract growing numbers of visitors as it diversifies its tourism offering
OBG
plus

Tourism remains one of the primary drivers of economic growth in Thailand. The sector’s positive performance can be partly attributed to a number of inherent pull factors, including a welcoming culture, abundant natural resources and biodiversity, as well as relative affordability. However, infrastructure has struggled to keep up with the fast-paced growth in visitor numbers, a situation…

Overview

Development plans seek to add value to Thailand's strongest industries and upskill the workforce
OBG
plus

After a decade of external disruption – which saw the 2008 global financial crisis, the floods of 2011, political protests in 2013-14 and the military coup of 2014 – Thai industry is getting back on track. According to the Ministry of Industry, the manufacturing production index (MPI) grew by 2.5% in 2017, with stronger growth in the second half of the year. This trend continued in 2018,…

Overview

Major retailers in Thailand focus on improving retail experience in response to subdued growth
OBG
plus

After a prolonged period of sluggishness, the retail sector in Thailand shown signs of healthier growth. General stability is having a positive impact on the sector, while years of targeted investment have also supported growth. However, some uncertainty remains, as consumer debt is still elevated and an uneven distribution of purchasing power growth exists. Meanwhile, traditional retailers…

Overview

A summary of tax legislation for businesses operating in Thailand
OBG
plus

The main body of tax law in Thailand is the Revenue Code. Taxes listed under the Revenue Code are primarily collected under a self-assessment system of taxation, whereby taxpayers take responsibility for correctly filing their tax returns and paying taxes. The Revenue Department administers the Revenue Code and enforces compliance with the law through regular tax audits. Taxpayers are permitted…

Overview

Increased loan demand driving credit growth in Thailand's banking sector
OBG
plus

The banking sector experienced mixed results in 2017. Although bank loans and asset quality benefitted from the country’s ongoing economic recovery, with operating profits rising as a result, high provisioning costs and preparations for the new accounting standards that take effect in 2020 saw net profits decline for many larger commercial banks. The sector is resilient, well capitalised and liquid,…

Overview

Business Barometer: OBG in ASEAN CEO Survey: Thailand edition
OBG
plus

According to the results of the inaugural Business Barometer: OBG in ASEAN CEO Survey, in which we surveyed business leaders in Indonesia, Malaysia, Myanmar, the Philippines, Thailand and Vietnam, business sentiment is buoyant in the region. This is the first time we have collated our proprietary data from individual ASEAN markets, allowing us to provide commentary and analysis on investor sentiment…

Overview

Economic indicators and development strategies contribute to a positive outlook for Thailand in 2018
OBG
plus

Macroeconomic recovery in Thailand gained momentum in 2017, with GDP growth hitting a five-year high on the back of positive performance in exports, tourism and financial services, as well as a moderate uptick in private consumption. Although non-performing loans (NPLs) remain a concern for the banking sector, lending growth accelerated in 2017. Meanwhile, the main index of the Stock Exchange of Thailand…

Overview

Business Barometer: OBG in ASEAN CEO Survey – Thailand edition
OBG
plus

According to the results of the inaugural Business Barometer: OBG in ASEAN CEO Survey, in which we surveyed business leaders in Indonesia, Malaysia, Myanmar, the Philippines, Thailand and Vietnam, business sentiment is buoyant in the region. This is the first time we have collated our proprietary data from individual ASEAN markets, allowing us to provide commentary and analysis on investor sentiment…

Overview

Policies target a diversified and digitalised industrial base in Thailand
OBG
plus

With a robust export economy dominated by the manufacturing industry, Thailand has long benefitted from foreign investment in key sectors, such as automotive and electronics, while its agriculture and agro-food base has pushed it to the forefront in global rubber, rice and seafood production. Trade and investment have been under pressure in recent years, however, a number of factors have contributed…