Integrity Legal - Law Firm in Bangkok | Bangkok Lawyer | Legal Services Thailand Back to
Integrity Legal

Legal Services & Resources 

Up to date legal information pertaining to Thai, American, & International Law.

Contact us: +66 2-266 3698

ResourcesCorporate and Tax AdvisoryThailand Corporate LawThailand Noted as Best Country in the World for Business Startup

Thailand Noted as Best Country in the World for Business Startup

Transcript of the above video:

In this video, we're going to be discussing well exactly what the title says. Thailand was recently voted, noted whatever you want to call it, as being the best country in the world to set up a business, to start a business. I'm quoting this from www dot Thai Visa dotcom - the Thai visa website and they are going ahead and quoting Chang Mai City news which under the city news section.

The article is entitled “Thailand best country to start a business in the world.” To quote directly, “Thailand was awarded the best country to start a business in 2017” by US News. Further quoting, “It is the second year in a row for Thailand to win the first place as world's best countries to start a business and Thailand. Also ranks overall of 26 for best countries in the world.” Further quoting, “they basically used a five equally weighted attributes to make this determination. The attributes were and I quote ‘affordable bureaucratic, cheap manufacturing costs, connected to the rest of the world and provides easy access to capital.’ Something in there that I thought was rather interesting was that it noted cheap manufacturing cost. So it seems to me that they're specifically talking about manufacturing companies here in Thailand. So things like factories, obviously just manufacturing concerns.

Thailand is the manufacturing hub. It's becoming more and more of a manufacturing hub. It's very much an export-based economy as well and there is something to note with respect to them singling out manufacturing. I think it should be noted that although I find Thailand to be quite a rewarding place to do business and to live with respect to smaller concerns, manufacturing tends to be sort of larger outlay of capital. More jobs are associated with manufacturing entities here in the Kingdom whereas smaller enterprises for small business owners that want to do business in Thailand, I'm not going to say it's not easiest or best, I'm going to say that “Look, there are certain obstacles that need to be overcome legally and from a capital standpoint, from a financial standpoint, from a physical presence in the Kingdom standpoint, a bureaucratic standpoint, there's various things that need to be overcome in order to do business here in Thailand as a small business operator.

And in many cases those who operate as a small business operator are generally operating in sort of a service capacity. They're not really operating in like a large manufacturing consortium capacity. So it's something to keep in mind with respect to this recent announcement that it's well, it's great to hear and I'm really a very proud of Thailand for being voted this. And I think it's well warranted especially in the manufacturing route because I think it is fairly straightforward to get a good manufacturing concern started here in the Kingdom. With respect to smaller enterprises and more service minded enterprises, the issues associated with getting up and going with respect to those are markedly differently when compared to them to the bigger sort of more manufacturing based endeavors here in the Kingdom.