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Think Italian... Invest Thailand
Transcript of Think Italian... Invest Thailand
export oriented, focused on
textile and clothing Thai exports continue to drive the economy:
Thailand's recovery from the Asian financial crisis of 1997-1998 was primarily dependent on exports
Exports of goods and services account for more than half of GDP (75%) Seregni Federica
Bergna Martina Why should you invest in Thailand? THAILAND'S TOP TEN ADVANTAGES Gateway to Asia Hub of ASEAN Social and
stability Growing economy World-class infrastructure FDI policies Government support
and incentives Target
industry Long-established and newly emerging industries Friendly and rich culture Education and healthcare services 76 provinces 2 special govern districts 75% Thai 3% Malay Population 8% Minority groups and hill tribes Territory Thailand facts Capital: Bangkok Economic Growth President
Mr. Lino Geretto Vice President
Mr. Sawang Pracharktam Commercial Services Directory and information on local importers, exporters and distributors Market research One of the world’s most important electronics manufacturers:
Thailand's → high-technology products are now leading Thailand's growth in exports Research on potential business partners for
joint ventures Organization
of individual meetings with potential industrial and/or financial partners A traditional agricultural country major exporter
of rice and major
producer of rubber
in the world Marketing and Communication Advertisement on TICC website, magazine and other channels of communication Promotion and assistance for Thai investments in Italy and/or Italian investments in Thailand Seminar and conference organization in Thailand and Italy Other Services Assistance for patent and trade mark registration Latest news about fairs and exhibitions in Thailand Meeting room and office for lease THE MAIN PURPOSES To provide insights and advices between Italy and Thailand To organize bilateral events to promote interaction To keep close contact with the Thai authorities To support, represent, and protect the interests of the Members Get Together Population: 70 million Language: Thai Religion: 95% Buddhism Literacy rate: 92.6% 1 Baht: 0.02 cent Euro Global financial crisis of 2008-09 severely cut Thailand’s exports in→ 2009, the economy contracted to 2.8%
In 2010 economy recovered up to 7,8%
Open foreign investment policy → Foreign Direct Investment (FDI) makes up 28.7% of GDP. The GDP value of Thailand 0.56 percent of the world economy The industrial and the service sectors serve as the two main sectors in the Thai gross domestic product SERVICES
ranges from tourism to banking and finance INDUSTRY
A newly industrialized country,
Tourism, textiles and garments, agricultural processing, beverages, tobacco, cement, jewelry and
electric appliances, computers and
parts, integrated circuits, furniture, plastics, automobiles and automotive parts
Tourism, in addition to export, is a major industry (6% of economy). Revenues from tourism make up the largest single component of Thailand’s export earnings 14% Chinese Thailand's economy has developed
over the past 30
years --> one of the most
in South-East Asia 70's: foreign investments,
development of a strong
industrial sector based
on import of
equipment needed 90's: high tecnology sector
(electronics, high tecnology
parts of automobiles)
economy prosperity To assist companies to do business in Thailand Best sectors to invest in Industrial country that needs to improve its efficiency Need to import large amounts of energy Huge damage caused by floods ENVIRONMENTAL TECHNOLOGIES AND MODERN MACHINERIES MODERN WATER SYSTEM AGRICULTURE
Thailand's biggest employer
60% of the total Thai population is dependent upon agriculture.
Rice, cassava (tapioca), rubber, corn, sugarcane, coconuts, soybeans Thailand is the largest exporter in the world rice market ALTERNATIVE ENERGIES (solar, bioenergy, biofuels, wind, water...) (for more infos about the 2011 flood, see
http://en.wikipedia.org/wiki/2011_Thailand_floods) "Certainly, there’s room for expansion.
We believe that the ASEAN region has a very bright economic future and we think that Thailand is a very good springboard for our presence in this area. So, we are trying to attract the attention of Italian businesses about the opportunities offered by Thailand."
Italian ambassador in Thailand] Manufacturing industries (jewellery, heavy construction…)
Food services, eno-gastronomic, design and luxury
Italcementi, Danieli, Assicurazioni Generali, Ducati, Polysun...
Italian fashion brands (Fendi, Ferragamo, Max Mara, Diesel...) ITALIAN PRESENCE IN THAILAND THAI PRESENCE IN ITALY Ensure firstly that the company is 51% Thai owned FIRST STEPS ECONOMY 1. As a foreigner, can I do business in Thailand? Yes, however foreigners are restricted from doing certain business as prescribed in the Foreign Business Act (FBA). 2. What do I need to set up a company in Thailand?
If you want to exercise a restricted business activity under the
form of a foreign majority you will need to apply for a
FOREIGN BUSINESS LICENCE (Ministry of Commerce)
If an activity is promoted by the BOI then the BOI promotion will override the FBA.
You invest together with a Thai partner into a
JOINT VENTURE. FIRST STEPS FIRST STEPS Reserve your proposed company name
File a Memorandum of Association
Convene a statutory meeting
Tax registration Thai Limited Company LOCAL SUPPORT AND INCENTIVES
The type, amount and recipients of State Incentives are decided by the BOARD OF INVESTMENTS (BOI)
There are two main categories:
Fiscal incentives (custom duties riduction, exemption on imported machinery or raw materials and corporate income tax exemption)
Non-fiscal incentives (permission to import foreign staff, to own land...) LOCAL SUPPORT AND INCENTIVES IEAT OSMEP (Small and Medium Sized Enterprises Promotion) is a semi-governmental agency that offers support to small and medium enterprises. Its goals are to help companies eliminate their weaknesses, expand on strengths, add value to their products, and gain global competitiveness. OSMEP The Industrial Estate Authority of Thailand is a state enterprise under the Ministry of Industry that supports Industrial development.
The IEAT created the OSS (One Stop Services for Foreigners), which gives you the possibility to have all the information about the incentive programs and to obtain the licenses and permits that all business require in one single office. ITALIAN SUPPORT AND INCENTIVES In Italy support services can be offered by:
The TICC (Thai Italian Chamber of Commerce)
Sportello Unico (Ufficio commerciale dell’Ambasciata,
Istituto Per il Commercio Estero)
SIMEST (Company supporting business in all phases of
development with Eu and non-EU Countries). CONTACTS
Tel. +662 2854090/1/2/3, +662 2854433, +662 2854434
ISTITUTE FOR FOREIGN COMMERCE in Bangkok
Tel. +662 6338491, 6338355,
THAI ITALIAN CHAMBER OF COMMERCE
Tel. +662 253.9909 or 255.8695
Tel. +662 278-8800
Tel. +662 253 0561,
E-mail: email@example.com 21
Tel. +662 537-8111-55, 2537-8555,
E-Mail: firstname.lastname@example.org WEBSITES
Ministry of Commerce Thailand
National Economic and Social Development Board www.nesdb.go.th
Istituto per il Commercio Estero
Economist Intelligence Unit (EIU)
Interactive: Thailand Business and Legal Solutions www.interactivethailand.com
Chaninat & Leeds
www.thailand-lawyer.com http://www.luxos.com/news/la-rinascente-sold-to-thai-retail-operator-crc#close "Thai company Central Retail Corporation purchased 100% of the quota capital of
La Rinascente, for €260 million." May 30th, 2011 http://www.thaitch.org/news/central-retail-la-rinascente-milano/ LIMITS & RISKS LIMITS TO OVERCOME Nationalism Work permits Legal advice Business Registration Language Women ACTIVITIES Business Luncheons Seminars & Workshops Special Events B2B Meetings For more infos visit http://www.thaitch.org/members/activities/ You must maintain a 4:1 ratio of Thais to foreigners in terms of fulltime employment Think Italian... Invest THAILAND Università IULM - Interpretariato e comunicazione
Economia delle Aziende e dei Mercati Internazionali
A.A. 2012/2013 Foreigners found to be working without work permits could be imprisoned up to five years and/or fined between 2,000 and 100,000 Thai baht (approximately US$60 to US$3,000) Federica Seregni Gaia Poggi Kristina Vermanis Corinne Biasizzo Clarissa Rebaudo Barbara Zerbini Martina Bergna To accept bribes is a normal part of doing business People planning to invest in Thailand are advised to obtain qualified legal advice The foreign business license has to be approved by the Director-General of Department of Business Development at the Ministry of Commerce Everything that is submitted to the government is in Thai Even a loyal Thai women partner could eventually lead to an unintentional damage for your business http://www.thebigchilli.com/1/post/2013/04/italian-connection-in-thailand-built-on-artistic-foundations.html A minimum of 2 Million THB (about $60,000) registered capital. The company must be "majority owned" by Thais, in terms of shareholders. Corruption To Start a Business
in Thailand Constitutional monarchy
King Rama IX (House of Chakri) Global Ranking 35th largest global economy 33rd largest global exporter 19th largest global manufacturer 2nd largest economy
in the 10-nation ASEAN One of the 'Asian Tigers' economies, based on the principles of free trade with a well-developed infrastructure and a free-enterprise economy (second only to Indonesia) The Association of Southeast Asian Nations