From the development of the Eastern Economic Corridor (EEC) ample opportunities are arising in Thailand, particularly across the ten targeted sectors.
- Medical and wellness tourism,
- Next-gen automobile,
- Smart electronics,
- Robotics,
- Medical,
- Aviation and logistics,
- Digital,
- Food for the future,
- Agriculture and Biotech, and
- Biofuels and biochemical
Particularly, Singaporean companies with great expertise in the aviation and logistics industries are expected to capture some of these opportunities considering its connectivity and export focus, while leveraging the investment benefits by the government in Thailand. For instance, the EEC aerotropolis assignment needs aviation technical services plus aircraft maintenance, overhaul, and repair in order to support the aviation industry in Thailand. With investors coming in, there is a huge room for logistics companies, especially Singaporean to back up the start-ups and the expanding manufacturing activities in the 3 Eastern Economic provinces.
It is expected to see more of online shopping in the coming years as the consumers in Thailand has become more tech savvy. This country is the second largest economy in Southeast Asia with a good number of internet users, the online market offers a fertile base for e-commerce business. With the impact of digitalization globally the majority of the traditional retailers are focusing online and thus there’s a huge space for digital presence.
Given the immensely strong push from the government working towards an innovative economy (Thailand 4.0), Thailand is indeed a growing market for start-ups. Well, it would be very wrong if only we mention the government only as the private sector is too working equally for the same purpose. Many big companies in Thailand have joined hands in support of promoting new ventures. In fact, there’s also a sufficient amount of capital, supporting start-up growth in Bangkok close to almost 100 venture capital firms.
If you have been thinking for a while to invest in Thailand, then let this be the right time. For any assistance regarding company formation in Thailand, we are there to help.
