Legislative reform in various stages of consideration and implementation could help boost the property market, with positive effects for the wider economy. In particular, the liberalisation of land laws is expected to result in more investment and the optimal use of assets. However, change can also create challenges. Short-term disruptions may occur as laws work to correct historical hurdles,…
Across the country, Thailand’s rail network is being transformed. In Bangkok, the efficient three-line service – with two Bangkok Mass Transit System (BTS) lines and one Metropolitan Rapid Transit (MRT) line – is extending outward and quickly evolving. Outside of the capital, four high-speed railways are being planned or under construction, while connections to China, being built under…
Recent years have seen air travel in Thailand experience significant growth, pushing existing infrastructure to its limit. The government is working to address these capacity issues through infrastructure investments, gradually positioning itself as a global aviation hub. International Standards In 2015 Thailand faced concerns about its aviation sector and was downgraded by the US Federal…
Smart cities form an essential component in the government’s broader vision of transforming Thailand into a high-income, knowledge-based economy. The ultimate aim is to create 100 smart cities across all 77 provinces by 2040, with an initial focus on three pilot cities in Phuket, Chiang Mai and Khon Kaen. The initiative is being supported by the state-owned CAT Telecom, which is working to…
In line with its ambitions to become a leading centre of high-value technology development and manufacturing in South-east Asia, Thailand is positioning itself at the forefront of global moves to adopt 5G. The new technology is expected to increase download speeds by up to 10 Gbps over 4G. To achieve this aim, the government has empowered the National Broadcasting and Telecommunications Commission…
While Thailand has developed a reputation as a budget-friendly destination, offering affordable accommodation and leisure attractions, tourism authorities appear keen to attract a new breed of high-end clientele. In recent years, several local initiatives and global campaigns aimed at promoting luxury tourism have formed a strategic focus for the Tourism Authority of Thailand (TAT), helping the agency…
Auto manufacturing has long been at the centre of Thai industry. For more than half a century the segment has been the target of incentives, and these efforts have successfully attracted many foreign investors. As a result, the country is now a major international player in the making and selling of vehicles, and is the largest producer in South-east Asia. However, production costs are increasing,…
While Thailand has long capitalised on the popularity of its cuisine, the production, selling and exporting of food products is being given renewed focus under the national Thailand 4.0 initiative. With food processing listed as one of the First S-Curve industries that the authorities are seeking to add value to in the short to medium term, multipronged efforts are been made to align the agriculture,…
The eight major taxes imposed in Thailand are: Corporate income tax: Thai incorporated entities are generally subject to tax on their worldwide income. Foreign incorporated companies are subject to tax on income derived from carrying on business in Thailand or on certain categories of income paid from Thailand. The standard corporate tax rate is 20%. Petroleum income tax: Petroleum, including…
As the first emerging economy expected to become an “aged society”, with more than 14% of the population projected to be over 65 years old in 2022, Thailand is confronting a demographic challenge to its economic development. Faced with rising public health costs and a shrinking workforce, as well as a limited pool of skilled labour, the government is moving to mitigate these problems, with…
