Thailand Property Investments  Business News

The Board of Investment (BOI) has accepted 300 billion baht worth of projects for consideration in the service, automobile, chemical product, electrical and electronic product and transport sectors. The BOI expects that requests from investors’ projects will reach 700 billion baht this year. The number of investors arriving in Thailand had risen compared to the same time last year as investors were focusing on long-term fundamentals instead of political issues.

 

Thailand ranked 18 on the World Bank’s list of top 20 places to do business in the world; Singapore remains number 1 in the world and the only other ASEAN country in the list, Malaysia was number 6. Thailand ranked 6th in Asia and 3rd in ASEAN as being most convenient. The list assessed the ease with which companies can start and run their businesses, employment and contractual issues, protecting investments, paying tax, trading across borders and other regulations and protection of property rights.

 

The Tourism Authority of Thailand has teamed up with three Thai insurance companies to provide travel insurance to tourists who come to Thailand but can’t get travel insurance in their home countries because of martial law. The three companies, Muang Thai Insurance, Chao Phaya Insurance and Siam City Insurance, will seek approval from the Office of Insurance Commission before selling policies to tourists. The target date to offer the 650 baht policy online is July 15 and it will offer one million baht coverage of accident, health, baggage loss or delay and airport closure. The TAT will be promoting the policies at 27 overseas offices to help restore tourist confidence in Thailand.

 

Thailand continues on the path to be the hub of research and development in the automotive industry in ASEAN. Thailand continues to be the top country in ASEAN in production, with the capacity to produce around 2.4-2.5 million units annually. Thailand is also taking the lead in R&D as many major automobile producers, including Nissan and Honda, have already launched R&D investment projects.

 

The heads of two budget air carriers, Air Asia and Jetstar Asia, suggested that the Airports of Thailand (AoT) consider reducing charges and adding incentives for airlines to help reduce costs and boost tourists to Thailand. Suggestions include lowering aircraft landing and parking fees and passenger service charges, citing Singapore’s Changi Airport’s recent across the board reduction of fees including rebates on parking fees as well as introduce a new package of incentives over the next 12 months that will reward airlines for growing transfer traffic at Changi. However, the AoT which runs Thailand’s six key airports wants to raise the foreign passenger charge from 700 baht to 800, and the domestic charge from 100 baht to 150.

 

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