“Thailand is steadily making progress to ease the process of doing business,” says the World Bank. And probably this is why more aspiring entrepreneurs are taking an interest in penetrating the country’s business ecosystem. Thailand is brimming with some solid business opportunities with great tax benefits for investors. If you register your business in Thailand focusing on the Special Economy Zones, you will open gates to unlimited opportunities.
Before you start your business in the SEZs of Thailand, you should know that you can attract incentives from various sources. There are investment and tax incentives from the Board of Investment and the Revenue Department. Additionally, there are certain high-priority government projects in these regions that seek the intervention of local and global companies for fast completion. Out of all, know about the 4 most important regions that can fuel your investment with growth and success.
1. Tak Province
In the lower part of North Thailand, the Tak Province is the gateway to Yanggon. The Mae Sot Border Checkpoint connects to Myawaddy City in Myanmar. This helps in yielding the highest value in the trade. There is a huge supply of labor in Myanmar helping this Special Economic Zone and supporting the co-production industry.
Additionally, its location right on the East-West Economic Corridor gives it a competitive edge. Significantly, this province can easily connect with Southern China and India. The target business groups of this region are as follows:
- Manufacturing of ceramics products
- Household furniture production
- Logistics business
- Electrical appliances industry
- Medicine manufacture
- Agriculture and fishery industry
2. Sa Kaeo Province
The Aranyapathet border checkpoint in this province connects with the Bantea Meanchey Province in Cambodia. Furthermore, this connection produces the highest-value trade between Thailand and Cambodia. Moreover, this area has the potential for international wholesale as well as retail trade as it is closely located in Laem Chabang Seaport and Bangkok. Additionally, this is situated in the GMS Southern Economic Corridor which is an essential channel for the country to transport goods to Southern Vietnam and Phnom Penh. As for the targeted business groups, they are almost the same as the Tax province.
3. Mukdaham Province
The Mukdahan border is a permanent checkpoint, connecting Thailand and Laos for trade. Similarly, it is situated on the East-West Economic Corridor, connecting Loa PDR, China, and Vietnam with Thailand. Also, it is a crucial channel for the transportation of goods, including electronic parts, beverages, and fruits to Vietnam and Southern China. The targeted business groups are;
- Printing materials
- Skin cosmetics
- Freeze-dried plants or silos
- Animal food products, etc.
4. Songkhla Province
Songkhla is in the middle of the Southern region having Sadao Border Checkpoint and Pandang Bezar Border Checking meet with the State of Kedah and State of Perlis. It is close to the sea and is bestowed with rich forest areas. Therefore, its target industries include logistics, agriculture and fisheries, leather products, textiles and industrial estates, furniture, garments, and tourism.
However, to know and claim your benefits, you must seek some local Thai assistance. In conclusion, Thailand’s special economic zones offer a number of advantages for investors, including:
- Preferential tax rates
- Reduced import and export duties
- Access to a skilled workforce
- Modern infrastructure
- A strategic location in Southeast Asia
If you want to invest and register your business in Thailand, we encourage you to explore the special economic zones as a potential location for your business. Email us at [email protected] and our team will get back to you with all information and procedural guidance. Your free consultation with the best corporate law and accounting professionals in Thailand is just an email away!
