Promising Destination: Thailand is the world’s 51st largest country by area, 20th largest country by population and the 32nd largest country in the world by economic size.
Open Market Economy: Thailand boasts of a strong open market economy and has emerged as one of the fastest growing countries in ASEAN region.
Hub of ASEAN: Thailand has the potential to be the regional logistic hub due to its strategic location in ASEAN with easy access to the Greater Mekong sub region (GMS).
Emerging Economy: The Economic Intelligence Center of Siam Commercial Bank (SCB) has predicted that Thailand’s economy will grow at 3.1% in 2019.
Rise of the LED: Thailand is moving full steam ahead towards the use of LED lighting. The lighting market in Thailand is worth about $1 Billion and is witnessing huge year-on-year growth. The Provincial Electricity Authority in Thailand is also working on a project to completely replace Thailand’s streetlights with energy-efficient LEDs.
Strong Government Support: Laws and regulations work in favour of companies, especially in areas such as starting new businesses, requests for approvals/permissions, tax payments and the facilitation of visas and work permits to support an investment environment.