Ajarin Pattanapanchai, Roger Winkles, Lew Cramer, Sheila Steiner
The Thailand Board of Investment (BOI) greeted over 40 Utah business representatives at the recent information and networking breakfast. After a warm welcome from Brett Heimburger, Regional Director for Asia, Governor’s Office of Economic Development, Ms. Anjarin Pattanapanchai, Senior Investment Advisor of the BOI outlined many significant advantages to launching or expanding your business in Thailand. She noted that her country has earned the World Bank rank of 12
th “ease of doing business” in the world. In addition, she noted that Thailand has established a national policy to promote renewable energy with the specific target of 20% by 2022.
Next, Mr. Roger Winkles, Executive Program Manager, Worldwide Manufacturing for Microchip Technology, Inc., presented his company’s experience of the partnership with the Thailand BOI and their reasons for investing in Thailand. Most significant for Microchip Technology Inc. has been the tax based incentives as well as the unique opportunity to bring in foreign workers, own land and utilize foreign currency. As an example of the significant value of the partnership with the BOI, Mr. Winkles noted that during the 2009 multi-day closure of the Bangkok airport, BOI arranged for Microchip to utilize the military airfield and re-route their shipments through Malaysia, such that no time whatsoever was lost in distribution.
In an effort to improve services to foreign investors, Thailand BOI has developed the One Start One Stop Investment Center to facilitate investment of both new and existing businesses. The OSOS offices include services for business license application, numerous tax registrations, visas and work permits, and various government offices.
Facts about Thailand
Area – 198,115 sq mi
Population – 2010 estimate – 63,723,953
GDP (PPP) 2008 estimate
– Total $547.060 billion (24th)
– Per capita $8,239 (86th)
GDP (nominal) 2008 estimate
– Total $273.313 billion (33rd)
– Per capita $4,116 (92nd)
