Business News

Business News

Sunbelt Asia Business News

The Thai government began accepting applications for the new Smart Visa this month, more details on Sunbelt Asia here: https://www.sunbeltasia.com/thailand-4-year-smart-visa.

Thailand was the least miserable economy in the world according the latest Bloomberg "Misery Index" which relies on the idea that low inflation and unemployment generally illustrate how good an economy's residents should feel. Thailand had the lowest ranking in 2017 and is predicted to maintain that in 2018. Thailand's low unemployment rate and low inflation are key contributors. The Bank of Thailand reported that the country's inflation rate was low at 0.66% last year while the country's unemployment rate was 1.04%. Singapore was next for 2017 followed by Japan, Switzerland, and Iceland. For the 2018 predictions Singapore again came second followed by Japan tied with Switzerland and Taiwan.

Suvarnabhumi International Airport expects a 3.7% increase of inbound passengers during the period from February 10 to 23 as over 2.6 million tourists arrive at the airport during the Chinese festival during February 10-23, or 191,000 a day. During the 14-day Chinese New Year period, there will be a total of 14,700 flights, or 1,055 flights a day, up 3.5%. Regular airlines also sought 420 additional chartered and special flights during the period.

The government has told the BOI to change some of their promotion policies to allow for factors such as disruptive technologies, pollution reduction, environmental impact reduction and support for the country's aging society. The Deputy Prime Minister also wants the organization to come up with a policy that clearly differentiates between priority sectors. He added that the BOI should ensure privileges for investing in special economic zones are attractive enough, support the agricultural and agro-tourism sector, and to play a leading role in incubating new entrepreneurs, especially tech startups and community businesses. At the BOI board meeting last week they approved measures to support entrepreneurs affected by a shortage of skilled workers, the government's daily minimum wage hike, and those who want to improve production through automation. Those entrepreneurs are now eligible for a three-year corporate income tax exemption on existing projects for up to 50% of their total investments, excluding land costs and revolving funds while eligible businesses can also receive a 200% deduction on corporate income tax if they organize training programs to boost the digital abilities of staff. The Board also approved measures for agricultural businesses; they cut the minimum capital requirement for small-scale Thai entrepreneurs who invest in farm-related business to 500,000 baht from 1 million, can utilize used machinery, and are eligible for a corporate income tax exemption for 5-8 years on value not exceeding 200% of their investment costs.

The Customs Service at Laem Chabang will be utilizing the e-Customs system which allows exporters and importers to file documents and process requests in the electronic system. From 1 March firms may file pre-arrival processing online for cargoes transported by ships 24 hours in advance, they will also be able to submit the necessary documents and make payments electronically. The office has also implemented the e-Import paperless document processing system to help speed up the procedures. The port handled 7.67 million containers in 2017 with a 5 percent annual growth

Business News

Feb 18 2018 >> Thailand is the Least Miserable Economy in the world
Feb 11 2018 >> Bangkok voted Best Destination City in Asia Pacific
Feb 3 2018 >> Thailand first in top countries to do business
Jan 26 2018 >> New business registrations reach 5 year high in 2017
Jan 20 2018 >> Applications for new 4 Year Smart Visa begin on February 1
Jan 14 2018 >> Thailand expects 400,000 Chinese tourists during Chinese New Year
Jan 6 2018 >> Consumer Confidence Index at 35 month high
Dec 30 2017 >> New 4 year professional Smart Visa expected to take effect this month
Dec 23 2017 >> Business registrations jump, exports reach 6 year high
Dec 17 2017 >> Applications for BOI priviliges in EEC rise
Dec 9 2017 >> E-commerce tax to be enforced for overseas companies
Dec 2 2017 >> New Minister of Tourism and Sports to focus on local communities
Nov 25 2017 >> BOI applications up, BOI privileges extended for the EEC
Nov 19 2017 >> Construction of first leg of high speed rail to Nong Khai expected to start next month
Nov 12 2017 >> Thai government plans to implement more reforms to ease doing business
Nov 4 2017 >> Thailand jumps to 26th in the World Bank's Ease of Doing Business report
Oct 28 2017 >> Women now make up 52% of visitors to Thailand
Oct 21 2017 >> Sunbelt Asia joins the nation in mourning HM King Bhumibol Adulyadej
Oct 14 2017 >> Low cost carriers expanding, tourist arrivals up
Oct 8 2017 >> New smartphone app for BOI work permit applicants
Oct 1 2017 >> Bangkok most visited city in the world
Sep 24 2017 >> International tourist arrivals up over 8 percent in August
Sep 16 2017 >> Pattaya tourism up 15 percent from last year
Sep 10 2017 >> Low cost carriers to expand routes once ICAO red flag lifted from Thai carriers
Sep 2 2017 >> New excise taxes to take effect September 16
Aug 27 2017 >> New Immigration auto-gate entry for Singaporeans at Suvarnabhumi
Aug 19 2017 >> Cabinet approves new 4 year visa for skilled professionals and investors
Aug 12 2017 >> Report ranks Thailand best country to start a business
Aug 5 2017 >> Economy grew in June due to export, tourism growth
Jul 29 2017 >> FPO predicts 3.6% GDP growth, 4.7% export growth
Jul 23 2017 >> Employment office to consider relaxing restricted occupations
Jul 14 2017 >> Thailand 3rd most competitive country in ASEAN
Jul 9 2017 >> New regulations for migrant workers delayed 6 months
Jul 1 2017 >> PM urges measures to soften strict new punishments on illegal foreign workers
Jun 25 2017 >> New 10 year retirement visa takes effect
Jun 10 2017 >> New forex regulations to ease investment overseas and FET requirements
Jun 2 2017 >> BOI announces two new categories for special promotion
May 27 2017 >> Thailand in top ten worldwide for social media use
May 20 2017 >> No VAT rise government confirms
May 14 2017 >> Tax deadline for in person payment May 30
May 7 2017 >> Thailand 4.0 and the food industry
Apr 30 2017 >> Bangkok most visited city in Asia Pacific
Apr 22 2017 >> DBD withdraws over 5,000 juristic persons from database
Apr 15 2017 >> Cabinet announces two new public holidays
Apr 8 2017 >> BOI promotions for EEC include 50 percent corporate income tax reduction
Apr 1 2017 >> BoT revises 2017 GDP upward
Mar 24 2017 >> Government considering 50 year property leases for foreigners
Mar 17 2017 >> Food exports up 6 percent year on year
Mar 11 2017 >> Consumer Confidence up for 3rd month in a row
Mar 3 2017 >> Government moving to clear patent back log in 3 months

Email Newsletter

Register Unsubscribe

Back To Top