Thailand Board Of Investment Adopts New Resiliency Strategy For Thai Economy

Thailand Builds on Successful Record of COVID Response to Bolster Economy

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Sep 09, 2020, 10:00 ET

BANGKOK, Sept. 9, 2020 /PRNewswire/ -- Today, the Thailand Board of Investment's New York Office announced the country's new THINK RESILIENCE, THINK THAILAND campaign. Thailand is leveraging its lauded management of the pandemic to look forward and build its economy for a more resilient future. The resiliency campaign focuses on four core pillars: Diversity, Ecosystem, Location and Supply Chain.

Thailand is promoting the diversity of its industry sectors and economy, which are bolstered by its investment friendly ecosystem of tax incentives and government support. The next two pillars focus on its location at the heart of the ASEAN market and its contribution to global supply chains, as Thailand looks to fill supply gaps with its robust manufacturing base and status as the second largest economy in Southeast Asia.

"The resiliency approach will lead the Thai economy to a full post-pandemic recovery," said Vorawan Norasucha, Director of the New York office of the Thailand Board of Investment, "Our business friendly regulatory environment, combined with our core value proposition, make Thailand an excellent location for foreign investors and an excellent manufacturing partner for foreign companies."

Thailand has been globally recognized for its management of the global pandemic. The World Health Organization is currently developing a documentary featuring Thailand, examining how the country approached the pandemic and how the Thai Government was able to successfully minimize the spread of the virus. Early on, Thailand was predicted to be a front-runner in pandemic management. In early 2020, The Global Heath Security Index ranked Thailand 6th in the world for Pandemic Preparedness, ahead of Sweden, Denmark, Finland, and South Korea.

Recently, the Bloomberg Misery Index 2020 ranked Thailand as having the least miserable economy in its annual evaluation of 62 countries. A combination of low inflation and low unemployment contributed to Thailand's top ranking in the study.

Thailand's success at managing the COVID-19 emergency has helped minimize damage to its economy. The government's resiliency strategy will ensure the Thai economy rebounds and is further strengthened by attracting more foreign direct investment and manufacturing contracts for Thai suppliers. As part of the initiative to secure international contracts for Thai manufacturers, the Thailand Board of Investment is supporting the manufacturing matchmaking program, SUBCON Thailand, with the addition of an online matchmaking platform for the manufacturing exhibition taking place on September 23-26.

To register for SUBCON Thailand 2020, visit www.subconthailand.com

ABOUT THAILAND BOARD OF INVESTMENT NEW YORK OFFICE
The Thailand Board of Investment New York (BOI New York) is one of 16 BOI overseas offices. The BOI New York team works with U.S. and Canadian companies, to facilitate foreign direct investment and to provide support services to companies investing in Thailand. BOI's services are free of charge and customized to help foreign businesses succeed in Thailand.

For more information, please visit www.boi.go.th and www.thinkasiainvestthailand.com

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SOURCE Thailand Board of Investment