overview of Thailand e-commerce by Pawoot Pongvitayapanu

1. Lazada’s “One Stop Shop”
A Thriving E-Commerce Success
e-commerce in thailand skyrocketsNEW BOI POLICIES CREATE A DYNAMIC
INVESTMENT CLIMATE FOR INVESTORS
PRIME MINISTER PRAYUT CHAN-O-CHA PLEDGES FULL
SUPPORTTOBOI'SNEWINVESTMENTPROMOTIONPOLICIES
thailand board of investment
www.boi.go.th
Thailand Investment Review
November 2015
vol. 25 no. 11
PMPrayutstressestheneedtoboostThailand'sinvestmentcompetency
amid accelerating regional integration
manufacturer
e
manufacturer
g
institutes
cluster
b
government and
research
private organizations
centers
b
ggoovovveerrnmm
prrriivvavaattteee orrg
ananuufacfactactactactcttfaf urureurerurerurerrererr
ggg
manufacturer
f
manufacturer
d
manuanunuum factfactfactfactf urureurerurerrercccct
ee cccclllcccclccccclllccccrr
cccccccccccccccc
manufacturer
c
institutes
government and
private organizations
research
centers
manufacturer
a
manufacturer
b
pp
institutes
cluster
c
research
government and
private organizations
centers
pp
manufacturer
i
manufacturer
h
mananufaaufactuctuctucturrerrerrer
g
privpp
mmmmmamanufacturer
i
ccenterte ss
manufacturer
J
government
development
developmentincentives
support
cluster
a
mmanufacturer
a
mamanuunufafafafafaafaccctctctcttururururururureeeerr

2. THAILAND INVESTMENT REVIEW02
NOVEMBER
2015
TIR
boi net application (jan - sep 2015)
BY ECONOMYBY ECONOMY
BY target sector
TOTAL INVESTMENT
758 Projects
4,363 m
Digital
67 Projects
25 M
logistics
n/a
n/a
human resource
2 Projects
1 M
environment
2 Projects
14 M
value-added
agriculture
12 Projects
209 M
Intl. Business Hub
71 Projects
41 M
tourism
2 Projects
6 M
science, tech
& innovation
46 Projects
115 M
Alternative Energy
24 Projects
422 M
Other target sectors : 3 projects (28 M)
TOTAL Foreign
INVESTMENT
408 Projects
2,095 M
usa
14 projects
189 m
netherlands
10 projects
61 m china
42 projects
339 m
thailand
singapore
67 projects
497 m
malaysia
10 projects
32 m
indonesia
2 projects
441 m
hong kong
23 projects
83 m
TAIWAN
21 projects
63 m
JAPAN
118 projects
358 m
SOUTH KOREA
21 projects
49 m
page
Cover Story :
Prime Minister Prayut Chan-o-cha Pledges Full Support
To BOI’s New Investment Promotion Policies 03-04
Special Issue :
New BOI Policies Create A Dynamic Investment Climate For Investors 05-06
Industry Focus :
E-Commerce in Thailand Skyrockets 07
Company Interview :
Lazada’s “One Stop Shop” : A Thriving E-Commerce Success 08-09
News Bites 09
BOI’s Missions and Events 10
Thailand Economy-At-A-Glance 11
About BOI 12
Unit : US$ (US$ = 35.70 THB )
Note: Investment projects with foreign equity participation from more than one country are reported in the figures for both countries /
Statistics on net applications are adjusted whenever applications are returned to applicants due to insufficient information.
CONTENT
TIR
NOVEMBER 2015

3. THAILAND INVESTMENT REVIEW 03
NOVEMBER
2015
TIR
cover story
PrimeMinisterPrayutChan-o-cha
Pledges Full Support To BOI’s New Investment Promotion Policies
In a recent seminar entitled
“Thailand Moving Ahead with
Cluster Development,” more than
2,000 foreign and Thai nationals
gathered at the Queen Sirikit National
Convention Center to hear Prime
Minister General Prayut Chan-
o-cha’s discourse. Affirming the
Government’s willingness to boost
the country’s economy and level of
development ‘from within,’the Prime
Minister also offered his support to
the BOI’s new investment policies
geared towards attracting foreign
investors to establish
new businesses in
Thailand.
A p a n e l
of experts
discussed the
BOI’s latest
investment
promotion
package and
welcomed questions from the public.
Its members included Minister of
Industry Dr. Atchaka Sibunruang,
BOI Secretary General Mrs. Hirunya
Suchinai, Deputy Secretary General
of National Science Technology and
Innovation Policy Office Mr. Kitipong
Promwong and Deputy Director-
General of the Fiscal Policy Office
Dr. Warotai Kosolpisitkul.
Following up on his visit to
the 27
th
ASEAN Summit in Kuala
Lumpur, General Prayut emphasized
the on-going process of regional
integration, particularly the symbolic
establishment of the ASEAN
single market. He stressed
its possible implications
for Thailand’s economic
architecture and the need
to enhance the country’s
investment competency.
The prospects
appear hopeful.ASEAN’s
single market and production base
characterized by the less restricted
movements of goods, services and
labor is projected to bolster foreign
investment in the years to come.
The cluster policy is expected to
play a crucial role in helping Thailand
keep up with the fast-paced socio-
economic development happening in
its neighboring nations. Not only will
the policy facilitate the businesses of
existing and new investors inThailand,
but it is also expected to benefit the
locals living in investment areas and
raise their standard of living.
For now, implementation is
key. That will require many related
Government agencies to collaborate,
with the Ministry of Industry acting
as the principle coordinator.As these
agencies lay the foundation for the
policy to be realized, the long-term
expectation is that these investment
promotion schemes will operate
General
Prayut called the BOI’s
cluster development policy
‘the biggest change in
the nation’s investment
promotion measures
in twenty years.’

4. THAILAND INVESTMENT REVIEW04
NOVEMBER
2015
TIR
smoothly regardless of whoever
comes into power after the elections.
The Prime Minister highlighted
Thailand’s key competencies, such
as its strategic location at the center
ofASEAN and its abundance of local
resources, especially agricultural
products, that could greatly benefit
from more research and the integration
of advanced technologies. The cluster
development policy along with the
border-focused special economic
zones (SEZs) is expected to play
a critical role in creating a favorable
atmosphere for further investment,
aided by advantageous tax and non-
tax incentives wherever applicable.
General Prayut also reiterated the
Government's efforts towards making
it easy for investors to start businesses
in Thailand, with the assistance of the
One Start One Stop Investment Center
(OSOS) that helps with expediting
the necessary procedures.
In 2015, 1,923 projects were
approved by the BOI from January
to October, with a total capital
investment of 693,637 million baht
(USD 19,539 million). The amount
is expected to significantly contribute
to the betterment of both the public
and private sectors.
Emphasizing the plan to move the
country forward to a more prominent
global position through investment
acceleration, General Prayut stated
that the Government would not leave
anyone behind in the process
and that all interconnected
sectors would share the
benefits.
General Prayut’s
opening remarks and
keynote speech was
followed by a lively
panel discussion on
the topic ‘Cluster
Development Incentive
Packages.’ Four panelists
briefly elaborated their respective
strategies and shared their personal
views with the public on their
approach to implementing the various
investment promotion packages.
The panel members identified three
important objectives of the cluster
development policy - strengthening
industrial value chains, attracting
value added investments and creating
more business opportunities. The
Minister of Industry Dr. Atchaka
Sibunruang, expressed a strong desire
to specifically promote nine provinces
that fall under the Super Cluster
package.
Investors are encouraged to focus
on these industries, to boost the
standing of individual provinces and
bolster internal connectivity.
The Secretary General of the BOI
Mrs. Hirunya Suchinai, summarized
the advantages of various incentives
for the industrial cluster. Investors
whose projects qualify to be
under the Super Cluster
will enjoy an 8-year
corporate income tax
exemption and an
additional 5-year
tax reduction of
5 0 % . D e p u t y
Director-General of
the Fiscal Policy Office
Dr. Warotai Kosolpisitkul,
also indicated the ministry’s
willingness to grant 10-15 years of
Super Cluster
includes automotive
and parts, electrical
appliances, electronics and
telecommunication equipment,
petrochemical and eco-friendly
chemical products, digital
cluster, food innopolis and
medical hubs.
corporate income tax exemption.
The ministry can additionally offer
personal income tax exemption of
15% that applies to both Thai and
foreign renowned specialists.
The Deputy Secretary General
of National Science Technology
and Innovation Policy Office Mr.
Kitipong Promwong, also took this
opportunity to highlight the benefits
of the Talent Mobility Program. This
project aims to mobilize researchers
in Government agencies and higher
education institutions towards
industrial sectors, giving them the
authority to work either full-time or
part-time. Up to now, around 117
researchers and 86 research assistants
have been mobilized into 56 projects
in 54 companies. Not only does this
advance their academic careers but
it also upgrades their technological
know-how, ultimately boosting
Thailand’s competitiveness.
Thailand’s future prospects will
focus on mutually beneficial projects
and investment acceleration that
raises industry standards overall.
Existing and future investors that take
advantage of this golden opportunity
can avail all the tax benefits that the
BOI offers until December 2016.

5. THAILAND INVESTMENT REVIEW 05
NOVEMBER
2015
TIR
special issue
New BOI Policies
Create A Dynamic InvestmentCreate A Dynamic Investment
Climate For InvestorsClimate For Investors
B2
B1
a4
a3
a2
a1 1. Competitiveness
enhancement
2. decentralization
3. industrial area
development
activity-based incentives merit-based incentives
+
Recently the BOI and the
foreign chambers of commerce
in Thailand met to discuss the
BOI’s latest promotion policies.
Mr. Stanley Kang, Chairman of the
Joint Foreign Chamber of Commerce
in Thailand was present along with
Mrs. Hirunya Suchinai, Secretary
General of the BOI and Deputy
Secretary Generals, Ms. Ajarin
Pattanapanchai, Ms. Duangjai
Asawachintachit and Mr. Chokedee
Kaewsang. The officials discussed
the impact of the new BOI policies that
aim to inject new life into Thailand’s
investment climate, effective from
January 2015 to 2021.
The BOI’s major thrust with
these new policies, is to support
the Government’s efforts towards
creating a more progressive economy,
by awarding numerous benefits to
investment projects based on the level
of technology involved. To that end,
the BOI aims to promote activities
that greatly benefit the country while
reducing labor intensive and low value
projects.
To entice more investors, the
BOI has split its tax incentives into
Activity-based incentives and Merit-
based incentives and made them more
attractive. For instance, projects under
theA1 category involving knowledge-
based activities focusing on research
and development (R&D) will gain
the most incentives.Activities in the
other categories will get appropriate
benefits depending on whether they
call for infrastructure development,
advanced technologies, or if they’re
important to the value chain.
Investors can also apply for Merit-
based incentives if they are willing
to get involved in specific activities.
For instance, investments that involve
research, technology development and
innovation will gain an additional cap
of 200%. Businesses will also benefit
if they happen to be in one of the 20
identified poorest provinces. Any
projects located in industrial estates
will gain additional year of corporate
tax exemption.
An exciting development here
is the abolishment of zone-based
promotions in favor of planned special
economic zones (SEZs) that consider
the potential and needs of each area.
Border SEZs aid logistic businesses
and labor-intensive businesses that
utilize raw materials sourced from
border areas or countries close by.
Ten such SEZs have been identified,
scattered along the border of Thailand.
Not only will developing these
SEZs boost the local economy and
establish a better economic bond
with neighboring countries, but it is
also expected to smoothen Thailand’s
entry into ASEAN.
Cluster-based SEZs are the second
category, involving businesses
located inland and future-industries
that incorporate minimum labor,
advanced technologies and R&D.
By concentrating investments in the
targeted clusters, the BOI hopes to
make the most of an area’s regional
potential while strengthening the
value chain.Acombination of an area
approach and a sector approach is
used to identify Cluster-based SEZs;
these can further be subdivided into
2 types, Super Clusters and other
clusters.

6. THAILAND INVESTMENT REVIEW06
NOVEMBER
2015
TIR
Applications for gaining approval for the BOI cluster package
incentive need to be submitted to the BOI by the end of 2016, with
revenue generation being demonstrated by the end of 2017. Businesses
don’t have to complete their entire investment by the end of 2017, but
they do need to have their first invoice by that time.
These activities have major tax
incentives such as an import duty
exemption on machinery and an 8-year
corporate income tax exemption as
well as an additional 5-year reduction
of 50%. International specialists hired
to work in these areas can also look
forward to being exempted from
personal income tax.
Agro-processing, textiles and
garments will fall under other clusters
category. They qualify for a
3-8 year corporate income
tax exemption and an
additional 5-year
reduction of 50%.
By promoting
cluster development,
the BOI hopes to
encourage the use of
advanced technologies
and eco-friendly technologies.
Non-tax incentives for both cluster
types generously includes granting
permanent residence to important
specialists as well as giving permission
for foreigners to own land.
TogainapprovalfortheBOICluster
incentive packages, businesses will
have to qualify under the classified,
eligible BOI categories. For example,
to fall under the automotive and parts
cluster, a project has to involve the
manufacture of automobile engines,
automobile tires, engine parts and
motorcycles (except less than 248
cc engine displacement). Secondly,
it’s important for the project to be
physically located in the designated
province for that cluster. Continuing
with the automotive cluster example,
the project would need to be in one of
7provinces –Ayuttaya, Pathumthani,
Chonburi, Rayong,
Chacheongsao,
Prachinburi,Nakorn
Ratchasima.
Businessescan
also co-operate
with academic
and research
institutions in the
designated areas.
Options include
participating
in mutually
beneficial programs
like work-integrated
learning, talent
mobility, co-operative
education, research
and more. For instance,
the talent mobility
program aims to mobilize
qualified researchers from the
public sector to the private sector for a
certain period of time, in order to solve
the issue of inadequate manpower in
the science and technology fields.
Businesses that utilize this program
will be able to borrow the right experts
for a few years, to work in their own
R&D projects, establish production
standards or solve technical problems.
Those choosing the option of
work-integrated learning can provide
long-term training to appropriate
schools within a factory setting. By
doing this, businesses will not only
upgrade the skills of the Thai work
force but they will also be providing
the industry with manpower that
possesses the right skills.
It’s also possible for interested
investors to apply for investment
acceleration measures. If investors
are willing to speed up
their investment,
they can expect to
gain an additional
1-4 years of tax
holidays. The
number of years
granted depends
on how quickly
the investment is
made within a certain
period of time. Businesses
that want to qualify for this
measure, will have to submit their
applications before June 30, 2016,
begin operations and obtain an income
within 2017.
The BOI laid out all this and more
to the Chamber members present at
the event. JFCCT officials expressed
a desire to see more tax incentives
for service-based companies,
especially when compared to the
benefits enjoyed by companies
in the manufacturing sectors.
Mrs. Hirunya Suchinai, pointed out
that service-oriented companies were
already quite favored, given that
service-related activities comprised
16 to 20% of the existing categories.
At its heart, the new BOI policies
encourage the use of advanced,
alternative energy-based and
environment-friendly technologies
that establish a spirit of innovation
and create value. The BOI expects its
comprehensive investment strategy to
usher in a fresh and more dynamic era
in Thailand’s investment atmosphere.

7. THAILAND INVESTMENT REVIEW 07
NOVEMBER
2015
TIR
industry focus
WHY INVEST IN THAILAND
ATTRACTIVE SEGMENTS
Thailand is ranked first in theASEAN countries in B2C.
Its e-commerce value reached 11.7 billion USD in 2014
Source: EDTA
Source: NECTEC, DAAT
Source: EDTA
[Billion USD]
[Billion USD]
1
2
3
ACCOMMODATION SERVICES
MANUFACTURINg
NEWS INFORMATION & COMMUNICATION
17.5
12.3
7.4
E-commerce industry overview
E-COMMERCE INDUSTRY VALUE 2015
KEY DRIVERS
40.8%
of Thailand’s population had access
to the internet in 2014
44.6 million
mobile internet users in 2015
Development in e-commerce infrastructure
e.g. e-payment and e-logistics
[Billion USD]
The business-to-business category was the largest
contributor to e-commerce sales in 2015, followed by
business-to-consumer and business-to-government sales.
b2bb2c
b2g
19.1 %
21.5
57.0 59.0
22.5 %
58.4 %
Source: EDTA (2014, 2015)
and NSO (2013)
Note: Exchange rate 1USD = 35.7 THB
2013 2014 2015 (p)
ABOUT THE INTERVIEWEE
Mr. Pawoot Pongvitayapanu is the President
of Thai E-commerce Association and also
the founder and Managing Director of
Rakuten TARAD.com Co., Ltd., the biggest
e-commerce service in Thailand.
e-commerce in thailand skyrockets
2015p
ThedotcomindustryinThailandiscurrentlyexperiencing
unprecedented growth. In this issue, successful e-commerce
entrepreneur, Mr. Pawoot Pongvitayapanu, shares his vast
expertise on this emerging market. The president of the
Thai E-commerceAssociation expressed his confidence
in Thailand’s e-commerce progress and elaborated on the
key drivers spurring this exceptional growth.
Thailand’s e-commerce business is expected to reach
59 billion USD this year alone, greatly exceeding figures
reached in previous years. Some of the key drivers of
Thailand’s e-commerce growth include a rapidly expanding
Thai population coming online, a higher adoption of
smartphones and the development of e-commerce
infrastructures. The use of smartphones as shopping devices
is a relatively new trend in Thailand (m-commerce) and
the availability of affordable devices has led to a higher
number of internet users which has in turn facilitated
online trading. Members of the older generation are
turning to the internet too, increasing the overall number
of Thai internet users.
Mr.PongvitayapanualsosharedhisthoughtsonThailand’s
infrastructure development and the various business
opportunities in the e-commerce industry. The development
of e-commerce infrastructure has greatly contributed
towards expanding the industry. Thailand saw a rapid
growth in broadband users after the introduction of
third-generation (3G) wireless broadband and their numbers
are only expected to increase with the introduction of
fourth-generation (4G) wireless broadband.
1 thailand 11.7
2 malaysia 9.6
3 singapore 3.45
4 vietnam 2.97
5 indonesia 2.6
Additionally, the emergence of new logistics providers
in Thailand and the greater variety of electronic payment
(e-payment) options not only facilitates the buying
process but also enables consumers to shop online more
conveniently. Mr. Pongvitayapanu also highlighted
the presence of large business gaps in e-commerce
infrastructure that include logistics and fulfillment services,
such as storage and delivery services. These gaps have
to be filled to help the e-commerce industry become
more robust.

8. THAILAND INVESTMENT REVIEW08
NOVEMBER
2015
TIR
Company interview
LAZADA’s
“One Stop Shop”“One Stop Shop”
A Thriving E-Commerce SuccessA Thriving E-Commerce Success
WhenonlineretailcompanyLazada
first entered Bangkok in 2013
to take advantage of Thailand's rapidly
growing e-commerce segment, little
did they expect to become Thailand’s
number one online marketplace with
sales figures skyrocketing through
the roof.
It's an impressive track record,
especially when you consider that
99% of the population in South East
Asia still prefer to shop offline. Lazada
has made shopping simple and fun for
the Thai consumer with a customer
friendly website and an easy-to-use
mobile application.
ASuccessfulBusinessModel
Their unwavering focus on
customer convenience is central to
why they expect to see e-commerce
jump to 4% to 5% of total shopping in
a country where only about 1% of the
population shop online. By leveraging
their core competencies, Lazada has
grown to be an e-commerce tycoon,
gradually expanding their online
business in Thailand, Indonesia,
Malaysia, Philippines, Singapore
and Vietnam. The entire South East
Asian market represents a massive
customer base of over 550 million
people and it’s a market that’s still
largely untapped.
To take advantage of this growing
customer base, Lazada has wisely
modeled itself after dot-com giants like
Amazon andAlibaba, minimizing their
processing times while maximizing
"Last year,
Lazada had around
1,200 SMEs on their site. In
July, the number spiked to 6,000.
A current forecast predicts over
10,000 SMEs joining the platform
by the end of 2015."
customer convenience.Their unique
“One Stop Shop” leverages their
key strengths, displaying more than
800,000 diverse products online.
They also offer their customers
a 24/7 shopping arcade, a high
security payment system and a solid
guarantee of customer satisfaction.
Moving onwards to new
horizons, Lazada is looking
forward to being the leading
e-commercesolution in
targetedcountriesas
well as being the
primary online
platform of
choice for on-
line sellers.
J u s t l i k e
any other
online retailer,
Lazada's key
strategic growth
direction involves
steadily attracting more
online customers. They've
implemented initiatives to not
only widen their product range, but
to also make their online platform
more reliable in order to promote
customer confidence. As more
and more customers gravitate to
shopping online, Lazada stands
to benefit by being an early player
in the entire e-commerce space.
E-commerce Industry
Potential in Thailand
In addition to providing
a convenient shopping window for
consumers, the burgeoning online
market presents a whole host of
exciting opportunities for various Thai
Small and Medium-Sized Enterprises
(SMEs). Numerous startups have
experienced dynamic success online
by offering a wide range
of products, but their
logistic services fall
short. If SMEs
were to offer
a professio-
nal platform
similar to
Lazada, they
could poten-
tially expect
their path to
success to be
smooth sailing.
Currently, Lazada
has partnered with 8 logistics
providers throughout Thailand,
with Thailand Post being one of
their key supporters. They're also
taking dynamic measures to ensure
their future success, such as utilizing
a case study of Amazon's processes.
They aim to improve their processing
time from 2 days to 2 hours to match
Amazon’s standards and also plan

9. THAILAND INVESTMENT REVIEW 09
NOVEMBER
2015
TIR
Lazada Co., Ltd.is owned
by the German company called
Jade 1326 GmbH & Co Vierte
Verwaltungs KG, a subsidiary
of European e-commerce giant,
‘Rocket International GmbH’.
Lazada’s online e-commerce store
provides a viral marketplace for
common consumer goods such as
CDs, online games, movies, music
& software, books & magazines,
electronics & computers, home,
garden & tools, grocery, health &
beauty, toys, kid & baby, sport &
outdoor, automotive & industrial,
clothing, and shoes & jewelry.
G e t t i n g T o K n o w
‘Lazada’
Lazadahas
experienced a tenfold
growth in sales since its
inception. Presently, it offers
over 800,000 products on
its online platform.
to enhance their warehouse and
packaging processes.
Similar to the “Fulfillment by
Amazon” measure, sellers will be
able to pool their products in Lazada’s
warehouse. This central
platform will help Lazada
package and deliver
goods to customers
in a reliable and
timely fashion.
It's not only
S M E s t h a t
stand to benefit
from the largely
unexploited
e - c o m m e r c e
space in Thailand.
Tremendous job
opportunities have opened
up in Thailand's local dot-com
industry. Lazada has been rigorously
engaged in recruiting personnel,
through both online channels and
roadshows at Universities. Given
the exceptional growth potential that
exists in e-commerce in Thailand,
experienced professionals can expect
to play an important role in driving
the entire industry forward.
Toencourageforeign
investors, the
Thailand Board
of Investment
plans to offer
numerous
attractive
incentives
to support
t h e r a p i d
growth of this
industry. The
businesses could be
poised to make use of these
advantages, and can expect toemerge
as one of the key players inThailand's
budding e-commerce space.
Draft Cooperation Framework On Thai-Chinese Railway Development Project
The Thailand cabinet approved a draft cooperation on November 17, 2015 for the Thai-Chinese railway
development project. It covers the construction of 1.435-metre standard gauge railways along two routes,
namely the Nong Khai-Nakhon Ratchasima-Kaeng Khoi route and the Bangkok-Kaeng Khoi-Map Ta Phut
route. Collectively, the routes will cover a total distance of 867 kilometers and totally cost 350 billion THB.
Thailand and China plan to take six months to analyze the project and evaluate the worthiness of the investment
before submitting the project for Cabinet approval. Construction is tentatively expected to start in May 2016.
Infrastructure Project Approvals Under Fast-Track PPP
The Government has put five infrastructure projects worth 334 billion THB on the front burner, under the
fast-track public-private partnership scheme. The projects include three mass-transit development routes in
Bangkok, costing 194 billion THB and two inter-city highways with a combined 140 billion THB price tag.
A recently issued mandate requires these public works to commence in the second half of 2016.
NEWS BITEs
Dr
Th
Let The BOI Support Your Online Success
Lazada Co., Ltd. has been supported by the new investment promotion measures (2015-2021) under the
activity 5.8 E-Commerce Business, which is in the B2 category of activity-based incentives. BOI measures
granted include non-tax incentives, e.g. permission to bring in skilled workers and experts to work in projects,
permission for majority or total foreign ownership, etc.
For further information and support, please contact Office of the Board of Investment.

10. THAILAND INVESTMENT REVIEW10
NOVEMBER
2015
TIR
BOI missions and events
BOI Secretary General, Mrs. Hirunya Suchinai and
the Mayor of Hamamatsu City, Mr. Yasutomo Suzuki,
signed the MOU on cooperation to promote and support
investment between the BOI and Hamamatsu City. The
MOU signing ceremony was held on 19th
October 2015
at the OSOS in the presence of Thailand’s Minister of
Industry, H.E. Dr. Atchaka Sibunruang and the President
of JETRO’s Bangkok office and Chief Representative for
ASEAN and South Asia, Mr. Masayasu Hosumi.
BOI Deputy Secretary General, Ms. Duangjai
Asawachintachit, welcomed the Deputy Premier ofTasmania,
Mr.Jeremy Rockliff and the Thailand Trade Mission from
Tasmania,Australia on 19th
October 2015 at the OSOS and
gave a presentation on the new BOI investment policy.
BOI Deputy Secretary General, Ms. Duangjai
Asawachintachit, welcomed Senior Trade Commissioner,
Mr. Greg Wallis and the Australian Trade Commission
Delegation (Austrade) on 3rd
November 2015, at the BOI
headquarters and gave a presentation on the new BOI
investment policy.
BOI Executive Director of the Eastern Region
Investment and Economic Centre, Mr. Chanin Khaochan,
together with BOI Mumbai Director, Ms. Kanokporn
Chotipal and Thailand BIOTEC representative,
Dr. Panit Kitsuban, led a mission to Bangalore, India, from
21st
- 26th
September 2015. The mission’s activities included
seminars and visits to Indian companies in pharmaceutical,
biotechnology as well as automotive industries.
H.E. Minister of Industry, Dr.Atchaka Sibunruang, along
with BOI Secretary General, Mrs. Hirunya Suchinai and
BOI executives, exchanged views with entrepreneurs in
various fields such as automotive and parts, electrical and
electronics, petrochemical and environmentally friendly
chemicals, and digital economy, about the new investment
promotion policy on cluster development at the One Start
One Stop Investment Center (OSOS), Chamchuri Square,
from 2nd
– 13th
November 2015.

11. THAILAND INVESTMENT REVIEW 11
NOVEMBER
2015
TIR
thailand ECONOMY-AT-A-GLANCE
population (2014) asean population (2014) minimum wageliteRacy rate
67.7 million 96 % 300 baht/day625 million
gdp by sector 2014
TOP 10 EXPORTS (JAN-SEP 2015)thailand export value
gdp/capita 2014
gdp growth
(%yoy)
$ 224.8 billion
TOTAL EXPORT VALUE
(2014)
$ 24.6 billion
TRADE
BALANCE (2014)
58.8%
CAPACITY UTILIZATION
(SEP 2015)
2.5 ± 1.5 %
HEADLINE
INFLATION (2014)
$ 15.4 billion
CURRENT ACCOUNT
BALANCE (2014)
$ 157.1 billion
INTERNATIONAL
RESERVES
(2014)
86.8%
MANUFACTURING
PRODUCTION INDEX
(SEP 2015)
107.26
HEADLINE
CONSUMER
PRICE INDEX (2011=100)
corporate income tax withholding tax value added tax
2014 2015
(Projected)
10 - 20 % 1 - 10 % 7 %
$ 5,519.4
0.9 %
3.5 %
-
4.5 %
¥$
35.70
thb
39.56
thb
55.30
thb
0.30
thb
5.68
thb
€ £
1. Motor cars, parts and accessories (24.5%)
2. Computer parts and devices (16.6%)
3. Precious stones and jewelry (11.0%)
4. Plastic beads (8.0%)
5. Refined fuels (7.9%)
6. Electronic integrated circuits (7.3%)
7. Rubber products (6.7%)
8. Machinery and parts thereof (6.6%)
9. Chemical products (6.3%)
10. Iron and steel and their products (5.0%)
1
2
34
5
6
7
8
9 10
$ 72.8
billion
demographics
gross domestic product
export figures
other economic indicators
average exchange rates ( as of 2 nov 2015 ) tax rates
$ 373.8
billion
12 %
45 %
43 %
agriculture industry
services
$
Source : The Revenue Department
Source : Bank of Thailand, Ministry of Commerce and World Bank
Source: WTO, Ministry of CommerceNote: *2009-2014 CAGR, 2015(P) figure projected by NESDB
Source : World Bank, NESDB
Source : World Bank
Source : Bank of Thailand
0.25
2010 2011 2012 2013 2014 2015 p
0.20
0.15
0.10
0.05
-
10.35 %*
[ TRILLION USD ]
total investment growth
(%yoy, first 9 months)
2014 2015
-4.4 % 3.7 %

12. THAILAND INVESTMENT REVIEW12
NOVEMBER
2015
TIR
about boi
boi overseas offices
HEAD OFFICE, OFFICE OF THE BOARD OF INVESTMENT
555 Vibhavadi-Rangsit Road, Chatuchak, Bangkok 10900 Thailand
Website : www.boi.go.th Email : head@boi.go.th
The Office of the Board of Investment (BOI) is the principal government agency that operates under the Prime Minister's Office
for the purpose of encouraging investment in Thailand. We at the BOI serve as the professional contact points for investors,
providing them with useful investment information and services. We offer business support and investment incentives to
foreign investors in Thailand, including tax and non-tax incentives.Afew non-tax incentives include granting land ownership
to foreigners and facilitating visas and work permits. Besides serving the needs of overseas investors, we also offer consultation
services to Thai investors who are interested in investment opportunities abroad.
Beijing
Thailand Board of Investment,
Beijing Office
Royal Thai Embassy
No.40 Guang Hua Road.
Beijing, 100600, P.R.China
Tel. : +86 10 6532 4510
Fax : +86 10 6532 1620
Email : beijing@boi.go.th
New York
Thailand Board of Investment,
New York Office
7WorldTrade Center, 34th
FL.,Suite F
250 Greenwich St., New York, NY
10007 USA
Tel. : +1 212 422 9009
Fax : +1 212 422 9119
Email : nyc@boi.go.th
Stockholm
Thailand Board of Investment,
Sweden Office
Stureplan 4C, 4th
Floor,
114 35 Stockholm, Sweden
Tel. : +46 8 463 11 58
+46 8 463 11 72
+46 8 463 11 74-75
Fax : +46 8 463 11 60
Email : stockholm@boi.go.th
Frankfurt
Thailand Board of Investment,
Frankfurt Office
Bethmannstr 58, 5.OG
60311 Frankfurt am Main
Federal Republic of Germany
Tel. : +49 69 9291 230
Fax : +49 69 9291 2320
Email : fra@boi.go.th
Osaka
Thailand Board of Investment,
Osaka Office
Royal Thai Consulate-General, Osaka,
Bangkok Bank Bldg. 7th
Floor
1-9-16 Kyutaro-Machi, Chuo-Hu
Osaka 541-0056 Japan
Tel. : +81 6 6271 1395
Fax : +81 6 6271 1394
Email : osaka@boi.go.th
Sydney
Thailand Board of Investment,
Sydney Office
Level 1, 234 George Street, NSW 2000,
Australia
Tel. : +61 2 9252 4884
Fax : +61 2 9252 2883
Email : sydney@boi.go.th
Guangzhou
Thailand Board of Investment,
Guangzhou Office
Investment Promotion Section
Royal Thai Consulate-General,
No. 36 Youhe Road, Haizhu District,
Guangzhou, P.R.C. 510310
Tel. : +86 20 8385 8988 ext. 220-225
+86 20 8387 7770 (Direct Line)
Fax : +86 20 8387 2700
Email : guangzhou@boi.go.th
Paris
Thailand Board of Investment,
Paris Office
Ambassade Royale de Thailande
8, Rue Greuze
75116 Paris, France
Tel. : +33 1 5690 2600-1
Fax : +33 1 5690 2602
Email : par@boi.go.th
Taipei
Thailand Board of Investment,
Taipei Office
Taipei World Trade Center, 3rd
Floor,
Room 3E40,No.5, Xin-yi Road, Sec.5
Teipei 110, Taiwan, R.O.C.
Tel. : +88 6 2 2345 6663
Fax : +88 6 2 2345 9223
Email : taipei@boi.go.th
Los Angeles, USA.
Thailand Board of Investment,
LosAngeles Office
Royal Thai Consulate-General
611 North Larchmont Boulevard, 3rd
Floor,LosAngeles,
CA90004 USA
Tel. : +1(0) 323 960 1199
Fax : +1(0) 323 960 1190
Email : boila@boi.go.th
Seoul
Thailand Board of Investment,
Seoul Office
#1804, 18th
Floor, Daeyungak Tower
25-5, 1-KA, Chungmu-Ro, Chung-Ku,
Seoul, 100-706, Korea
Tel. : +82 2 319 9998
Fax : +82 2 319 9997
Email : seoul@boi.go.th
Tokyo
Thailand Board of Investment,
Tokyo Office
Royal Thai Embassy, 8th
Floor.,
Fukuda Building West, 2-11-3Akasaka,
Minato-ku,Tokyo 107-0052 Japan
Tel. : +81 3 3582 1806
Fax : +81 3 3589 5176
Email : tyo@boi.go.th
Mumbai
Thailand Board of Investment,
Mumbai Office
Royal Thai Consulate-General,
Express Tower, 12th
Floor, Barrister Rajni
Petel Marg, Nariman Point, Mumbai,
Maharashtra 400021
Tel. : (91 22) 2204 1589-90
Fax : (91 22) 2282 1525
Email : mumbai@boi.go.th
Shanghai
Thailand Board of Investment,
Shanghai Office
Royal Thai Consulate General
2nd
Floor, 18 Wanshan Road, Changning
District,Shanghai 200336, P.R. China
Tel. : +86 21 6288 3030 ext. 828, 829
Fax : +86 21 6288 3030 ext. 827
Email : shanghai@boi.go.th
los angeles
new york
stockholm frankfurt
paris
mumbai
tokyo
osaka
guangzhou
shanghai
sydney
beijing
seoul
taipei
thailand
headquarterS