4 - Doing Business in Thailand

Summary

SUCHART LIENGSAENGTHONG

I will begin with an overview of Thailand focusing on the economy and then discuss exports and imports.

Thailand is a country of approximately sixty-three million people and so provides a large market which offers very good opportunities for business. Thailand is also in the centre of Southeast Asia and we consider ourselves to be the gateway to the Mekong region which is comprised of Myanmar, Laos, Northern Thailand, Cambodia and Vietnam. This region has a total population of about 250 million people. The size of the market is therefore even bigger because Thailand shares borders with all of these countries.

Thailand is also a rising economic star in Asia since we are ranked number two, only after China. Thailand is now the twentieth largest exporter in the world and Thai exports are expected to reach US$100 million in the year 2006. International agencies now view Thailand in a very positive light compared with Thailand during the Asian economic crisis. UNCTAD, for example, has just released a study of Thailand and, in terms of investor confidence and of direct investment from overseas, Thailand is ranked fourth after China, India and the United States.

Turning to the political environment in Thailand, I have seen some one-sided comments from people who have studied Thailand from overseas but who do not really know about Thailand, so I would like to refer briefly to a few issues. Earlier speakers discussed the Thai Government's campaign against drugs and we referred to the killing of many people in Thailand. In fact there are many perspectives on that issue. This government takes drug issues very seriously when compared to the past. They are trying to bring Thailand forward, trying to suppress and trying to uproot the drug syndicates that have been operating behind the scenes for such a long time.