Thrive in Thailand

Thailand is now the second largest economy in Southeast Asia, which is emerging as a key player in the South-east Asian Market attracting significant foreign investments and businesses. Thailand along with Vietnam are two of the ASEAN region’s biggest Business hub of South-east Asia, by offering abundant opportunities for international corporations to establish. Thailand has progressively turned into a business center in Southeast Asia, offering a great market to companies and business entrepreneurs hoping to grow their market presence. Thailand’s market evolved post COVID-19 into a skill-based market therefore a reduced labour cost and an amazing strategic location, excellent infrastructure and deep-sea ports, would provide the business amazing opportunities. In 2019, itself at least 50 business companies expanded to Thailand with major Indian groups of Companies, namely The Tata Group, The Aditya Birla Group, Dabur, Lupin, Lloyd Group and others.

In the year 2020, Thailand secured the 21^st position out of 190 countries in the World Bank’s Ease of Doing Business rankings, making it a hub for Foreign Direct Investment (FDI). In 2023, The Thailand Board of Investment (BOI) reported a surge of 43% in the investment applications as compared to the previous five years. The growth rate of Thailand accelerated from 1.9% in 2023 to 2.4% in 2024. With, the focus of International Business Companies on Thailand because of their easy set-ups, tax regime, benefits, a growth rate of 2.8% is expected in 2025. Thailand is located right at the heart of Southeast Asia, making it the perfect location for businesses hoping access to the ASEAN (Association of Southeast Asian Nations) that comprises of nearly 600 million consumers. Thailand is a part of Free Trade Agreements (FTAs) which provides tons of incentives to business companies such as low trade barriers, less tariff, less taxes. Closer to markets like India, China  and other ASEAN nations, Thailand is welcoming businesses from every part of the world with a promising outlook of dynamic business environment and success.

Thailand has also been observing digital transformation, with a blossoming tech sector and start-ups in the field. The Government has been supporting such growth by launching various initiatives such as the Thailand 4.0 Initiative, for advancements in Artificial Intelligent (AI), robots, and tech. This is surely a benefit for any business, as the improvement in the Digital infrastructure of Thailand will make communication, delegation of world, and running of a business even smoother as compared to earlier. So, Thailand is a new hub for businesses where prosperity and welfare are pledged, allowing innovative ideas find their home for execution.

We, Biswajit Sarkar, Advocates- IP Attorneys, a leading Intellectual Property Law Firm based in India and operating globally, are coming to Thailand as The Bengal Chamber of Commerce and Industry (BCCI), has exclusively invited our senior advocate to attend the 2nd Edition of the Global Business Connect Summit held at Bangkok and enlighten the summit on “IPR protection on business growth in the global market”. We are also extending our IP services in Thailand as we perceive that the new growing businesses who are extending to Thailand especially Indian companies would require some aid on the IP laws in Thailand, and our firm being associated with several business associations in Thailand is committed to provide the best services to everyone.