Both the public and private sectors are supporting the Thai tech industry, aiming to leverage the country’s location and strength in different business areas plus its readiness in terms of technology and the digital business sector. It is expected that Thailand 4.0 strategy and the Eastern Economic Corridor will take to rapid advancements.
- Its geographical location
Thailand shares border with all the emerging markets including, Laos, Vietnam, Cambodia, and Myanmar, with extreme growth potential. The country is able to leverage its location and strengths in different business areas and its readiness related to technology and the digital industry.
- Thailand 4.0 is the ‘Thing’
The country has been through different periods of economic development have focused on light industry, heavy industry, and agriculture. And presently, Thailand 4.0 policy is likely to see the economy transition to a technology focus.
- Smart Visa projects get more support
The Thai government is supporting the startups through a wide range of measures, including the Smart Visa project, an eight-year tax exemption, 10-year tax exemption for the venture capital firms, and a five-year exemption from CIT for start-ups. Additional support includes set-up of 15 Innovation Districts, namely Lat Krabang, Punnawithi, and Klong San, to assist startups with their operations.
- Thai society is multicultural and open to international influences
International influences contribute to cultural diversity in Thailand. This speaks a volume about Thailand being a great host with a readiness to accept start-ups across the world.
- High quality transport network, telecom infrastructure and high standard living
Thailand provides startups with everything that they need to live and work, from quality transport network to high standard living. Apart from this, the country has gained the status of the Kitchen of the World for it’s a wide variety of cuisines at affordable prices.
Further, Thailand will serve as a country to attract talents and experts while allowing them to communicate with experts across the world.
