The 5th December the people of Thailand celebrated the 80th birthday of their king with a public holyday. King of Thailand, H. M. Bhumibol Adulyadej is considered as the oldest king who enjoys complete support of his subjects. He was instrumental in the country’s democratization process which started in the 1990’s. His vision towards the economic growth of the country gained momentum during 1985-1997.
Today Thailand stands tall among the Association of South East Asian Nations (ASEAN) nations especially since 1999 due to policy change initiated by the Thai government. The country has emerged as an important destination for business and tourism. Nations across the globe have evinced great interest in doing business with Thailand is because the Free Trade Agreement (FTA) allows them to enjoy low customs duties ranging from 0% to 5%. Besides, the Board of Investment has not imposed any foreign equity restrictions to enable free flow of investments.
The opening up of business avenues in varied fields such as automotive, machinery, electrical and electronics, petrochemicals, agro-industry, bio-technology, renewable energy, fashion and supplementary services have beckoned investors of all sizes. Attractive investment incentives, supportive policies, availability of skilled workforce, fantastic infrastructure, further consolidates its place has a great investment location in the world. The monarch ability to be in his subjects’ shoes and dedication towards the nation’s needs has propelled Thailand the most sought after destinations in the world for best returns for one’s investment.