Thailand

Famous as one of the world’s premier tourism destinations with a thriving domestic and export economy, Thailand is also one of the most advanced manufacturing sites in Southeast Asia.

Famous as one of the world’s premier tourism destinations with a thriving domestic and export economy, Thailand is also one of the most advanced manufacturing sites in Southeast Asia.

Doing Business in Thailand

Located at the centre of Southeast Asia, Thailand serves as a regional hub with a growing network of transportation and communication infrastructure connecting numerous other destinations. The country is also seen as the physical centre of the ASEAN Economic Community. Success here is often a matter of having the best Thailand market entry services.

Between Thailand’s population of nearly 70 million and the roughly 4 billion people currently residing within the AEC, the potential market for business is massive and growing. This provides ample opportunities for firms looking at the country on a standalone basis or as part of a broader regional strategy.

It should be noted that the Thai population is increasingly sophisticated with a burgeoning middle class. It boasts a strong mobile penetration rate, and consumers here are well-informed and digitally savvy.

Yet, some hurdles, including the country’s notorious bureaucracy, remain before you can start operations in the country. That makes Thailand market entry services vital. The right partner will ensure you avoid issues and achieve success in the Kingdom.   

Why Thailand?

The Thai Board of Investment offers several promotional schemes to encourage foreign investment, including lengthy taxation holidays. Additionally, Thailand has one of the lowest corporate tax rates in the region.

The country boasts free trade agreements with much of Asia-Pacific, allowing for the free movement of materials and supplies. Thailand has close to 70 well-functioning industrial estates with a wide range of manufacturing and logistics facilities available.

Thailand market entry services from Asian Insiders

Simply put, you’re going to need assistance reaching the market. Thai regulations are complex and local relationships are critical. You’ll need market research, an entry plan, and partners who are experienced in how things work.

With an experienced team that deeply understands the local business landscape, Asian Insiders is here to help you connect, engage, and achieve success in Thailand. Our Thailand market entry services help you navigate the local business culture as well as thoroughly understand the differences between your home country and other regional economies.

Click here to take our Readiness Check to see if you’re ready to enter Thailand

Asian Insiders offers four core services in Thailand – Market Entry, Operational and Support Services, Supply Chain Management and In-Country Representation.

Market Entry Services
Thailand

Operational and Support Services
Thailand

Supply Chain Management
Thailand

In-Country Representation
Thailand

Key Features of the Thai Market

Thailand remains a preferred destination for overseas businesses, given its central location in Southeast Asia and worldwide connections. Here are some key market features foreign businesses should know about as well as a SWOT analysis of Thailand. To better understand if you’re ready to enter the market, click here to take our Readiness Check.

  • Robust consumer market with 70 million people and further access to ASEAN population of 600 million.
  • Second largest economy in Southeast Asia, third largest export base in ASEAN.
  • Total of 13 FTA’s with AFTA, ASEAN, Australia, China, Chile, the EFTA States (Iceland, Liechtenstein, Norway and Switzerland), India, Japan,  New Zealand, Peru and South Korea as well as RCEP. Negotiations are currently ongoing with the European Union.
  • Thailand’s top export categories are: electronics; machinery; cars and automotive parts; rubber products; polymers of ethylene and propylene; and precious stones and jewellery.
  • Thailand is known as the “Detroit of Asia” with nearly 2 million cars manufactured by all major brands, including Mercedes and BMW.
  • Building on the success of the Eastern Seaboard, the Thai government continues developing the Eastern Economic Corridor (EEC), a flagship megaproject that aims to become the ASEAN-leading economic zone for industrial, infrastructure, and urban development.
  • Superior service sector used as the gold standard in hospitality around the world.
  • Thailand is repeatedly ranked as the most favoured country to live as an expatriate with value for money in terms quality of living, superior infrastructure, international standard hospitals and schools; superior holiday destinations and restaurants from all the world’s kitchens.
  • Bangkok is one of the best connected cities in Asia with direct flights to all major cities in Europe, Asia, and Australia. Ideal place to locate a regional headquarters for Asia.

SWOT Analysis Thailand

Strengths

  • Geographic position in the centre of ASEAN
  • Thailand’s home market 70 million with easy access through FTAs to the ASEAN+ markets
  • Leading automotive producer, all major brands produced in Thailand
  • Highly skilled workers. Precision
  • One of the most attractive countries to live as an expatriate

Weaknesses

  • Government bureaucracy, especially for visa/work permits and licencing
  • Educational system with few outstanding students
  • Very hard to get access to financial capital
  • Lack of language competence
  • Focus on OEM products with few own brands.
  • Overreliance on foreign labour for low paid jobs

Opportunities

  • Ability to expand production base into neighbouring countries
  • Growing middle class with economic strength
  • Thailand’s status as “Kitchen of the World”
  • FTAs being implemented with the EFTA States and negotiated with the European Union
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Threats

  • Rising production costs
  • Country stuck in the middle income trap
  • Income inequality
  • Political instability with threats of military intervention even if this does not affect businesses
  • Overexploitation of tourism destinations in regard to environment

How Asian Insiders Can Help You

Asian Insiders is a network of highly experienced market entry and channel development consultants. With Partners operating in most Asian markets and Associate Partners around the world, Asian Insiders offer clients a vast body of knowledge, expertise and experience in introducing western companies into Asia, and supporting their performance when there.

Asian Insiders offers clients a broad, comparative view across all Asian markets and deploys a set of proprietary service modules that allows for consistent service across the region. From first point of contact, we learn our client circumstances and objectives, then develop their recommended business strategy in Asia. We connect with government officials, Chambers and business associations, industry networks and sector media. Asian Insiders connects and engages for maximum strategic advantage and impact.

Asian Insiders Thailand: Our Team

We offer operative services from our offices located in Bangkok’s CBD District. We have been in business since 2007 and since opening, we have over 300 completed client assignments in both Thailand and Myanmar including projects for governments, industry associations, events management, delegation and group familiarisation tours along with hundreds of individual assignments, visits and reports. We deliver comprehensive operational and support services in Thailand.

Our team includes seasoned executives along with seven full-time staff working with diverse fields from aviation to recruitment.  In addition, we  often work closely with sector specialists on specific client cases.

Frequently Asked Questions

Asian Insiders specialises in market entry and expansion services for companies looking to enter the Thai market. Our services include:

  • Distributor Analysis: We help you select the right distributor for Thailand based on market research, financial stability, and network relationships.
  • Sales Channel Review: We optimise your sales channels, both online and offline.
  • Outsourced Sales: We select and manage external expertise to strengthen your sales efforts.
  • Operational services: We support you managing your ongoing operations, administration or participate in strategic representation.

Understanding the Thai market allows you to focus on the correct part of the market, design sales channel related to it and support your local partner(s) efficiently.

Selecting the right distributor ensures efficient market penetration and successful market entry into Thailand. A reliable distributor can help you navigate cultural nuances, logistics and regulatory compliance.

We conduct in-depth market research to understand customer behavior, trends, competitors and opportunities in the Thai market. Our insights guide your market entry strategy.

Outsourcing sales reduces costs, allows you to focus on core business activities, and expands your global reach. Work with us to manage your sales and leverage our understanding of business in Thailand to your benefit. When working with us, you don’t need to worry about company establishment, employee costs, office space, nor staffing. You also have access to an extended team, instead of a single sales representative.

Establish a subsidiary in Thailand is fairly simple, but it is essential to do the right things from the start. Usually, receiving finalised, signed, and notarised required documentation from client headquarters takes longer than the process in Thailand. Alternatives to subsidiary are a branch office or a representative office, both which come with some benefits and restrictions compared to a subsidiary. Once subsidiary is established, banking, accounting and taxation related registrations are required.

We have solved operational issues (such as administration, HR, accounting, etc.), supported directing sales processes (major investment projects, equipment, and consumable sales) successfully and managed full operations for our clients in Thailand. Our experts can guide you through any issues you might have in your current operations.

Our Experience

  • Close to 20 years experience in executing projects in many sectors from industrial to FMCG sectors
  • Representation of high profile foreign companies in Thailand
  • Senior partner has 40 years experience in Thailand and is multilingual

Our Reach

  • Wide network in many industries
  • Senior partner is the past president of the Norwegian Chamber of Commerce and a past board member of Thailand’s Board of Trade in addition to having started a sector wide trade association.

Our Core Services

  • Market Entry
  • Market Expansion
  • Corporate Representation
  • Recruitment
Managing Partner – Thailand

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