Business in Thailand

As being one of the founding members and hub of ASEAN /Association of Southeast Asian Nations/. Thai products are within easy reach of about 500 million people from the region. Thailand, with its perfect strategic location in the heart of Asia, offers great business potentials. Thailand has amazing uninterrupted political and social stability. From economical point of view, business in Thailand can be characterized by steady growth. Being the country with the world’s highest growth rate from 1985 to1995 with almost 9 percent annually played a trick and in 1997 Thailand business was in crisis due to speculative pressure.

In 1999 Thailand entered recovery stage and the reason for this was the strong exports which increased 20 % in 2000. The government of Thailand has made resources in order to support and help investors. Thai government emphasizes on 5 major sectors: electronics, automotive, food and tourism and fashion. Total labor force is about 52 % /33.4 million/ of the population. Division of labor is: Agriculture – 54%; Government and services – 31%; Industry – 15%; Top export products are – computers, transistors, seafood, clothing and rice. Top imports are – capital goods, raw materials, consumer goods and fuels.

As in more countries there are three types of business organizations in Thailand: limited companies, partnerships and sole proprietorships.