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Thailand has seen tremendous growth in its technology sector in recent years and is now increasingly regarded as one of the industry leaders in South-east Asia. The government recognises the benefits that a vibrant ICT sector can have for the wider economy and plans to push ahead with a series of ambitious legacy projects. The state’s objectives for the sector are based around its Thailand 4.0 programme, which incorporates interlinked initiatives such as the Eastern Economic Corridor, the establishment of 100 Smart Cities nationwide and the transition from 4G to 5G technology. While these initiatives present tremendous opportunities for both local and foreign companies, there remain challenges to overcome. This chapter contains interviews with Teeranun Srihong, Chairman of the Board of Commissioners, Digital Economy Promotion Agency; and Ariya Banomyong, Managing Director, LINE Thailand.

After a few challenging years that saw air safety rating downgrades and delays in major infrastructure projects, Thailand’s transport sector is beginning to regain momentum. Significant progress has been achieved with the construction of rail and road networks, and issues around meeting international standards are being resolved as the country lays the groundwork to become a regional transport and logistics hub. Meanwhile, with the Asia-Pacific region set to be the fastest-growing market for commercial aviation over the next 20 years, Thailand is seeking to strengthen its aviation infrastructure, particularly its maintenance, repair and overhaul segment, targeting it as a high-value industry with significant growth potential. This chapter contains interviews with Arkhom Termpittayapaisith, Minister of Transport; Jin Liqun, President, Asian Infrastructure Investment Bank; and Pierre Jaffre, President, Airbus Asia Pacific.

Although the construction industry contracted somewhat in 2017 following a strong performance in the previous two years, the prospects for the sector remain broadly positive. Work progressed on many fronts, despite a few projects not launching as planned. Commuter rail initiatives advanced, double tracking works on intercity lines began, high-speed rail track was laid, and plans for the transformational Eastern Economic Corridor were promoted. The real estate market in Thailand is becoming one of selective opportunity. In the residential segment, international investors are still active in the high-end market and healthy uptake is evident in the mid range. In all property categories, resilience is seen in assets that are located near related infrastructure, such as transportation routes and schools, as well as those that offer unique features. This chapter contains interviews with Anutin Charnvirakul, Former President, Sino-Thai Construction; and Visit Malaisirirat, CEO, Magnolia Quality Development Corporation.

While Thailand has been successful in expanding access to education, the sector faces some challenges. The country is falling behind in the quality of provision, and policy has been slow to adapt to global labour market trends. Nevertheless, there are signs that this is changing: the government has set about pursuing an education strategy with clear goals, and efforts are under way to streamline administration and assessment. Thailand has been reaping the benefits of an expanding global health care industry, as its large number of internationally accredited hospitals and qualified practitioners continue to attract clientele from both developing and developed countries. At the same time, the universal coverage framework has succeeded in providing health care to nearly the entire population. This chapter contains interviews with Teerakiat Jareonsettasin, Minister of Education; Pailin Chuchottaworn, Former Chairman of the Council, Vidyasirimedhi Institute of Science and Technology; and Gordon Cameron, Vice-president, Asia-Pacific Area, Takeda Pharmaceuticals International.

This chapter navigates Thailand’s tax regime, offering a guide to navigating tax laws relevant to businesses. It also explains key corporate duties and regulations as well as tax holidays and incentives on offer for investment. This chapter contains an interview with Andrew Jackomos and Paul Ashburn, Co-Managing Partners, BDO in Thailand.

This chapter examines Thailand’s legal framework, focusing on work done by the Board of Investment to promote various sectors. It also explains the policies outlined for non-citizens in the Foreign Business Act, tax and non-tax incentives for international companies and other key subject areas. This chapter contains a viewpoint from David Lyman, Chairman and Chief Values Officer, Tilleke & Gibbins.