Thailand is planning to reopen its doors to tourists in July after being closed for nearly a year. Before the virus put the country into lockdown, the beach country attracted almost 20 million visitors in 2019 and close to 3 million visitors in 2020. Tourism accounts for approximately 20% of the GDP. That was about the tourists, but if you are thinking about getting a business visa to Thailand, even you are on the right track.
Since the invocation of the Emergency Decree in March of last year, Thailand has blocked all of its borders in an effort to contain the spread of COVID-19. Thailand, on the other hand, began gradually opening up to foreign travellers and visitors in 2021. In April 2021, the mandatory quarantine period for both unvaccinated and vaccinated passengers was reduced to 10 and 7 days, respectively.
If you are a non-Thai and thinking of doing business in Thailand, you have to obtain a business Visa to enter Thailand. To obtain a business visa, you can seek assistance from reliable law firms like Konrad Legal. But before that, you must know the reasons which make Thailand land of business opportunities.
Business Opportunities in Thailand
Thailand has become a popular destination for international business expansion and relocation due to its location in the heart of Southeast Asia. Thailand is an attractive site for building a manufacturing base and support centre for customers in the Asia Pacific area because of its central location and strong and stable economy. Thailand’s corporate environment is internationally oriented and open, with exports accounting for 60% of its GDP.
Suitable Business Environment
Thai society, particularly the business sector, is extremely hospitable to foreign investment and businesses looking to set up shop in the country. Businesses doing business in Thailand will find the infrastructure and processes they need to get up and running quickly.
Diverse Manufacturing Sector
Thailand’s manufacturing industry is extensive and busy, producing a wide range of products such as toys, seafood products, rubber, furniture, and jewellery. Thailand has become a regional trade and commerce leader thanks to its strengths in manufacturing and fast-moving consumer goods (FMCGs).
Investor-friendly Government Policies
The Royal Thai Government is a forward-thinking, innovative institution that actively promotes the development and socioeconomic progress. Thai authorities strongly welcome foreign investment, both financial and in the local workforce. The government’s actions over the previous decade have created a more welcoming atmosphere for international enterprises and organisations.
Large, Adaptable and Cost-Efficient Manpower
Thailand’s workforce is huge and flexible. Literacy rates in Thailand are 94 per cent for males and 90 per cent for women. Based on this fact, the Thailand BOI ensures that international investors will find a skilled workforce with room for growth. The Thai labour, in addition to being adaptable and well-educated. It is also economical and cost-effective with an average daily wage of 203 THB (about US$6) in Bangkok.
Your Take!
Thailand is a welcoming, pleasant, and developing country where long-term commercial and financial bonds can be formed. Thai people have integrity and a strong will to succeed, and their culture is rich in tradition and history. Thailand has become a very desirable location for doing business as a regional centre for trade and manufacturing.
After you arrive in Thailand, all you need is proper legal counsel. We understand that it is not possible for a foreigner to understand the legal standpoints and government regulations speedily. Write us a mail at [email protected] so that we can help you register your business in Thailand.
