A World of Our Making: Smart City and Iot Technology

Vol. 30 l August 2020

A WORLD OF OUR MAKING: Smart City and IoT Technology BOI NET APPLICATION January - June 2020 Total Foreign BOI Net Application 02 Total Investment Investment 754 Projects 459 Projects US$ 5,087.69 Million Cover Story 03 US$ 2,430.41 Million Smart City Living Marks Another Milestone of Thailand 4.0 FOREIGN INVESTMENT BY TARGET SECTORS Industry Focus 05 Smart City: First S-Curve New S-Curve The World of Our Making Electronics Biotechnology Short Article 07 63 Projects l 730.00 M 3 Projects l 8.61 M Thailand’s Smart Airports Embody the Digital Revolution Agriculture Digital & Food Processing 51 Projects l 12.01 M Company Interview 08 18 Projects l 123.57 M Rayong Engineering & Plant Service Co., Ltd. : An Innovative Driver of Machinery Automotive Aerospace and Factory Engineering Solutions 40 Projects l 408.13 M 2 Projects l 7.81 M

BOI’s Missions 10 Petrochemicals Medical & Chemicals and Events 18 Project l 46.53 M 26 Projects l 111.08 M

Thai Economy 11 Automation At-A-Glance Tourism & Robotics 4 Projects l 59.75 M 2 Projects l 3.55 M About BOI 12

FOREIGN INVESTMENT Netherlands Republic of Korea BY MAJOR 50 Projects 9 Projects Japan ECONOMIES 316.20 M 32.79 M 99 Projects Switzerland 724.82 M 12 Projects United States 45.82 M 16 Projects China 49.25 M 95 Projects Hong Kong 559.11 M 27 Projects 153.44 M Taiwan THAILAND 28 Projects 267.44 M Singapore 55 Projects 340.19 M Indonesia 3 Projects 81.40 M

Unit: US$ (US$=31.23 as of 14 Aug 2020) 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. For more details, please visit www.boi.go.th

02 Thailand Investment Review COVER STORY COVER

SMART CITY LIVING MARKS ANOTHER MILESTONE OF THAILAND 4.0

As Thailand progresses towards its goal of sustainable development of broadband internet (5G) for full under the Thailand 4.0 model, the smart city is front and center in commercial use in late 2020. The arrival the country’s action plan. Leveraging cutting-edge ICT technology of 5G will further accelerate the adoption and new generation platforms, such as the cloud computing that of IoT thereby enabling Thailand’s smart enables on-demand computing, mobile, AI, and big data analytics, city endeavors to become a reality more Thailand’s smart city plan centers on providing innovative services easily1. to citizens, businesses and tourists in the form of social, business Thailand’s smart city development and environmental solutions. is also aimed at better serving both tourists and meetings, incentive travel, Through sensor-based devices and their services such as connected traffic conventions and exhibitions (MICE) visitors, ubiquitous connectivity enabled by novel lights that control vehicle flows more with these two groups accounting for ICT infrastructure such as 5G ultra-high effectively, smart bins that inform the 40 million2 and 1.27 million3 visitors in speed internet, cities around the world right people when they need to be 2019 respectively. This, together with are adopting the smart city concept to emptied, better integrated public mass the new investment required in system address many of the challenges arising transit systems and more robust cyber development, will also help stimulate from urban expansion, such as traffic security. Smart technology is even the overall Thai economy. congestion, waste management, air applied to monitor the crops growing pollution, and security, while also meeting in the fields and to predict machinery Moving Towards business objectives and improving maintenance schedules to enhance Smart City Reality people’s quality of life. business efficiency. Smart city developments are materializing As future technology continues to The COVID-19 pandemic is adding across Thailand, with a focus on blending evolve into today’s reality, Thailand has to the relevance of smart city technology a traditional sense of culture with basic placed a priority on developing urban as Thailand and its neighbors adopt infrastructure that provides residents with landscapes that encompass connected more stringent healthcare precautions greater convenience in transportation, sensors, connected vehicles, smart which require efficient data analytics of energy efficiency, and digital technology. meters and smart homes, along with people’s mobility and connectivity. To qualify for the incentive program of a more flexible, mobile and effective With the robust cooperation between the government and Thailand’s Board of level of connectivity. While preserving the public and telecommunication Investment (BOI), eligible projects must green and community areas as well companies, Thailand is poised to be meet at least two of seven development as the local cultural identity, the new the first country of the ten-membered aspects with smart environment being way of life in Thailand’s big cities is Association of Southeast Asia Nations one of them. The seven categories and characterized by more efficient city (ASEAN) to roll out the fifth generation their criteria include: 1 https://www.bangkokpost.com/tech/1864284/5g-is-about-to-be-real 2 https://www.tatnews.org/2019/12/tat-targets-3-18-trillion-baht-in-tourism-revenue-for-thailand-in-2020/ 3 https://intelligence.businesseventsthailand.com/en/page/mice-statistics 4 https://smartcitythailand.or.th/face/images/card/1559721572.pdf Thailand Investment Review 03 Smart Environment: minimizing six provinces in addition to Bangkok have and smart agriculture. The Phahon environmental impacts from urban begun the process of transformation Yothin Smart Mobility Center is one of living into smart cities. Bangkok’s smart city projects. Its aim Smart Economy: using digital Phuket, a popular resort island in is to develop the Bangsue Train Station technology to create added value Southern Thailand, and Kon Kaen, the into a transportation hub connecting to the economy largest city in Thailand’s northeastern Bangkok not only with the central,

COVER STORY COVER Smart Mobility: developing region, are regarded as the cities northern, and northeastern regions of connected and environment- which have made the most significant the country but also the ASEAN region friendly transportation systems progress on the road to becoming and China. The project also includes the Smart Energy: enhancing energy smart cities. development of MICE and commercial management efficiency Kon Kaen’s transformation was led facilities. The Eastern Economic Corridor, Smart People: facilitating life-long by the private sector, with the emphasis the country’s new Eastern Seaboard learning opportunities for residents on smart mobility through the development economic development zone, which spans Smart Living: maximizing the of Light Rail Transit (LRT) and Transit Chonburi, Rayong and Chachoengsao health, safety and quality of life of Oriented Development (TOD) mass transit provinces, is gearing towards Smart residents systems around the city’s train station to Mobility, Smart People and Smart Economy Smart Governance: improving improve the commercial viability of the aspects of smart city development. The people’s trust in public services area. The USD 730-million LRT project, public and private sector are driving covering a 26-kilometer route, is at the the launch of ASEAN’s most advanced Proposals must include details heart of the city’s plan to stimulate the digital centers and academies, known on the financial management of the economy of the Kon Kaen province and as Thailand Digital Park. investment, which can be conducted support the growth of the city’s MICE through the Public-Private Partnership and healthcare industries, while also Deepening ASEAN’s approach. The Digital Economy Promotion avoiding air pollution. With its focus on Connectivity Agency (DEPA)’s Smart City Office, the transportation, Kon Kaen’s smart city Launched in 2018, the ASEAN Smart Ministry of Energy, and the Office of development is forecast to increase Cities Network (ASCN) is a collaborative Transport and Traffic Policy and Planning employment by nearly 20% and reduce platform for cities across ASEAN to work will assess all proposals and action plans traffic on the province’s main highway together towards the common goal of for smart city developments as well as by 10%. sustainable smart city development. their digital infrastructure. Upon receiving Meanwhile, Phuket’s smart city As part of a process for building a final approval, the cities or municipalities development has been driven by the people-centered ASEAN Community, will be allowed to use the designated private sector and local municipalities the ASCN has the goals of raising “Smart City” logo while also becoming with a focus on the development of a the quality of life of people in ASEAN entitled to tax and non-tax investment data platform for integrating data from all through technology and innovations and incentives from the BOI as well as sources such as Wi-fi service points, car solving the problems arising from rapid financial and technical assistances from license plate registrations, and CCTV urban growth such as city congestion, the DEPA. for analytics to improve understanding poor water and air quality, and disparity To date, the Smart City Development of people’s mobility on the island. between urban and rural society. Steering Committee has received Phuket also aims to install more CCTV The ASCN’s pioneer batch in 2018 proposals for evaluation from 39 cities units along the island’s beaches and comprised 26 diverse cities from across across the country, out of which 10 cities entry points to maximize tourist safety. the ASEAN region, which were nominated have already been approved in seven Another smart tourism project launched by their national governments. In Thailand, provinces, namely Bangkok, Phuket, by Phuket involves tourists wearing these cities include Bangkok, Chonburi Kon Kaen, Chiang Mai, Rayong, Chonburi smart wrist bands when they go diving and Phuket. The ASCN aims to synergize and Chachoengsao. The DEPA targets so that their position can be monitored its development efforts, sharing best achieving 100 smart cities spread across and alerts can be activated if they stray practices and fostering a network of all of the country’s 76 provinces by 2022. too far from their boats. The city also smart city developments across the plans to install air and water quality and region. Kon Kaen and Phuket flood monitoring systems. Showcases Pilot Projects Other smart cities have different Of the total 39 cities that have already focuses, based on the needs and submitted proposals, 12 are municipalities, participation of the locals. Among including seven city municipalities, four them, Chiang Mai, the largest tourism are town municipalities and one is a destination in the Northern region, has subdistrict municipality. So far, cities in placed its focus on sustainable tourism

04 Thailand Investment Review SMART CITY: FOCUS INDUSTRY THE WORLD OF OUR MAKING

the challenges of environmental and From an environmental and aesthetic healthcare threats. perspective, more trees will be planted The Smart City concept is a core and electric wires placed underground. pillar of the Thailand 4.0 policy that the The NCT expects the efforts to be country is pursuing under its 20-year focused on creating economic hubs The COVID-19 pandemic has provided national development plan. The country and developing run-down areas into a timely demonstration of the extent to aims to lift the digital capacity of the smart blocks. which digital technology could become whole ecosystem of city management The development of smart blocks entrenched in a city to support health while preserving Thailand’s unique is already underway in 6 out of thirteen precautions and effective infection social fabric and enhancing the quality municipalities: Chiang Mai, Nakhon Sawan, control. Sensor connectivity and the of life of its urban residents. Moreover, Udon City, Khon Kaen, Rayong City, and Internet of Things have been used to the plan looks to encourage the local Patong City. facilitate the screening for and tracking participations of cities in their future Thailand’s smart city development of infections while also enabling the development. will not only accelerate investment delivery of contactless services in the As part of Thailand’s efforts to and create employment across various new normal of people’s daily lives. push smart city development forward, modern industries, notably in IoT, Thailand has successfully implemented the National Charter of Thailand (NCT)1, Artificial Intelligence, Big Data and smart a smart tracking system called “Thai the organization tasked with the sustainable grid energy management, but also in Chana” that allows residents to check in development of the cities, has developed related city management businesses and out when visiting public spaces. By a blueprint for creating “smart blocks” such as waste to energy plants, smart tracking people’s visits to public places, or experimental zones of 0.25 square energy, design and smart construction. this system is able to recommend a test kilometers in communities where physical and/or quarantine via a notification to infrastructure will be set up in an attempt Turning the Future users who visited a specific place at the to win public approval and make way for into Reality same time as a person who was later the introduction of digital technology. Driven primarily by consumer-related found to be infected. These experimental zones will see all-in- needs, the IoT market in Thailand is As the latest ICT technologies and one “smart poles” and complete streets forecast to reach a value of US $2.19 next-generation data platforms become placing priority on pedestrians, followed billion by 2030. From a baseline of US realities, Thailand and its fellow ASEAN by cyclists, public transport users, $120 million in 2018, this represents a members remain committed to enhancing and finally private car users. Personal CAGR of more than 27 percent. This the use of technology to improve the vehicles will not be banned, but they rapid growth, the highest among all quality of city services and address rank fourth in order of importance. Smart Electronics segments, makes the

1 https://www.nationalcharter.co/ Thailand Investment Review 05 IoT market an area of huge opportunity. progressed relatively quickly. The country in shaping the future of smart cities in A recent Asia IoT Business Platform concluded bidding on its 5G license Thailand. survey ranked Thailand highest among auction in February this year. The NBTC Government agencies are actively all ten ASEAN countries for corporate auctioned off 700-megahertz, 2600MHz stimulating investment in smart city IoT implementation. and 26-gigahertz, raising more than 100 projects through pilot city policy-making One of the key features of the Smart billion Baht. AIS, a top spending phone mechanisms, an infrastructure-incubated City vision is the connectivity among devices, operator in the bidding, launched its ecosystem, Smart City applications, places, and transportation infrastructure. first 5G trial in early March, allowing and the development of personnel and INDUSTRY FOCUS INDUSTRY To enable such communication to take users in inner Bangkok to experience human resources. Tax incentives are place, reliable baseline technology like the very latest in wireless connectivity. also being offered through the BOI for sensors, cloud computing, and Wi-Fi Thailand’s achievements in its digital investors in smart city projects. Other are required. Thailand’s potential for infrastructure opens up many potential benefits include exemption of tax on IoT is reflected through the country’s innovations and developments as 5G imported machinery and corporate income competency in its electronics and provides 100 times faster connections tax benefits robotics sectors. In the past recent than 4G and will enable users to download Following the Smart City Development years, the unit price of sensors has fallen data more quickly, robots to work faster, Committee’s meeting in May, the BOI significantly from $10 to $2, providing and cars to drive themselves. has enhanced the investment incentives a convincing argument for companies To facilitate Thailand’s transition into for smart city development. At present, and the governmentto adopt IoT services a smarter society, the government has the BOI offers incentives for business into their business activities2. established the nation’s first IoT Institute activities in smart city area development, At the same time, internet penetration under the supervision of the Digital smart city system development and smart is relatively high in Thailand compared to Economy Promotion Agency (DEPA). industrial zones. Development of smart its neighbors. As of 2019, more than 75% Located in Digital Park Thailand within city area and system are entitled to 8 of the Thai population had access to the Eastern Economic Corridor (EEC), years of Corporate Income Tax (CIT) the internet, according to the National the institute is tasked with providing the exemption. For smart industrial zone Broadcasting and Telecommunication necessary infrastructure, digital ecosystem, development, the same length of CIT Commission (NBTC). This high percentage and business matching service to bring exemption will be granted if all seven is partly due to the government’s mega large tech companies and startups criteria are met. projects under its Thailand’s 4.0 initiative together. Covering more than 60,000 In order for a project to be eligible to develop digital citizens. The country sqm, the state-of-art facility will include for the BOI incentives, it must include a has invested in building a nationwide 5G lab, cloud innovation lab, AI design plan for the development process as well digital infrastructure through a village lab, and data analytics center. as digital technology infrastructure, along internet project called “Net Pracharat,” with Smart City system services and which has made high-speed internet Government environmental regulations. A participation available for 75,000 villages across and BOI Incentives meeting for the project must be organized Thailand. Through tax and non-tax incentives, the BOI to receive the Smart City Steering Beyond home broadband connectivity, and government agencies are helping Committee’s approval to receive the 5G development in Thailand has also the private sector to play an active role incentives. Beyond the tax incentives, the BOI also provides land ownership rights, and foreign workers can also enjoy the expedited route of entering the country through the BOI’s smart visa scheme, which grants a maximum 4-year permission to stay with exemption from the work permit requirement and entitlement to additional privileges.

2 https://www.bangkokpost.com/business/ 1772229/iot-adoption-set-to-surge-on-lower- costs

06 Thailand Investment Review SHORT ARTICLE SHORT

THAILAND’S SMART AIRPORTS EMBODY THE DIGITAL REVOLUTION For many travelers, a city’s aerodrome is the setting for their The plan initially focuses on overhauling the digital first encounter with a new country. Whether they are tourists, capacity of the services and airport and aviation security business travelers, expatriates, or permanent settlers, the in Suvarnabhumi International Airport and Don Muang airport is the place where they get their first glimpse of the alien International Airport in Bangkok as well as in airports serving environment in which they have just landed. The subsequent key business and tourism destinations including Chiang experience of traversing through the wide-open spaces of Mai, Chiang Rai, Phuket, Songkhla, Krabi and the Eastern these airports can offer a deeper look into the culture of the Economic Corridor (EEC). city and the spirit it wishes to represent. As a strategic economic zone supporting the government’s In cities across the country, the capacity of Thailand’s Thailand 4.0 policy, the EEC is served by U-Tapao International airports is expanding. Powered by 5G ultra-high speed Airport. U-Tapao is equipped with ICT facilities that have the internet, emerging technologies like AI, sensors and data capacity to support the mobile applications, video analytics, management serve as the central underlying workhorses that computer and communication systems that can enhance allow these so-called “smart airports” to provide ever higher the effectiveness of many services and improve the visitor numbers of passenger with a seamless and contactless experience overall. airport experience. Among the initiatives for U-Tapao International Airport, The COVID-19 pandemic has also added impetus to which is expected to serve 2-2.3 million visitors per year, the deployment of technology such as robotics, biometrics, is the plan to introduce WiFi6 technology, the latest Wi-Fi temperature scanners and UV disinfection systems to ensure standard with the fastest speed. Connected to the airport’s effective healthcare management at the airport. security management system, thermal scanners will be used The Ministry of Transport’s Department of Airports, Airports to screen passengers’ temperatures, while robots will be of Thailand Plc, the National Broadcast and Telecommunication utilized to perform various tasks. The airport will also deploy Commission, and the country’s top ICT operators have all played the smart video analytics and biometrics solutions which will a part in ushering in the 5G network and the technological enhance the terminal management with intelligent image solutions that improve both service capacity and security in analysis and processing technology to improve the passenger the country’s main airports. Regarded as a priority action, experience and security standard. With its 5G network, the these technological developments support Thailand’s aim of airport will be able to serve mobile applications and artificial enhancing the digital capacity of its overall economy and the intelligence robots that allow passengers to access aviation capacity of the country’s airport ecosystem. These initiatives services and airport information in one app. The 5G network form part of the government’s plan to raise the standard of will also enable the airport to integrate the data management Thailand’s transportation system, not only to meet the changing of its Radio Frequency Identification (RFID) equipment to needs of an increasing number of MICE and tourism visitors, enhance the efficiency of services such as luggage tracking but also to support the country’s aim of becoming a hub of and management, the airport cloud parking system and the modern industries in ASEAN, especially serving the CLMV automatic locker system. countries (Cambodia, Lao PDR, Myanmar and Vietnam).

Thailand Investment Review 07 RAYONG ENGINEERING & PLANT SERVICE CO., LTD. AN INNOVATIVE DRIVER OF MACHINERY AND FACTORY ENGINEERING SOLUTIONS COMPANY INTERVIEW COMPANY “ BOI incentives have the potential to fundamentally change the landscape of Thailand’s machinery and factory maintenance industry. By incentivizing automation, costs will inevitably reduce, An Innovator in In recent years, as part of its thereby resulting Technology-Based continued drive towards technological in improved Solutions advancement, Rayong Engineering & First registered in Thailand in October Plant Service has made a significant outputs for 2001, Rayong Engineering & Plant Service contribution to the changing face of is the engineering and maintenance factory machine maintenance. This has factories across arm of leading business conglomerate primarily taken shape in the form of Thailand.” the Siam Cement Group (SCG). Drawing analytics and predictive maintenance, upon SCG’s decades of extensive a process that has resulted in many Charoenchai Prathuangsuksri, Managing Director global and regional experience, Rayong businesses fundamentally changing the Rayong Engineering & Plant Service Engineering has become known across way they approach maintenance and the region for providing innovative operating standards. technology-based solutions for factory As a result of the growing domestic and machine maintenance. This ongoing and international interest in predictive pursuit of innovation is reflected in a machine maintenance, Rayong Engineering number of advancements that have & Plant Service has witnessed strong been made in system integration, the financial performance in recent years. utilization of data analytics, and the For example, in 2018, the company saw development of sensors to detect and net sales revenue increases of 4.56%, monitor machinery erosion. with an associated total asset growth of 4.96%.

08 Thailand Investment Review Delivering Sustainable focus to the application of analytics What does the future Industrial Solutions to determine contingencies, and to look like for Rayong Rayong Engineering & Plant Service has avoid any costly repairs before they are Engineering & Plant a belief that - similar to any business needed. Service? sector - there can be no ‘one size fits all’ Throughout Asia, factory and machine approach for developing industrial What support has automation is becoming more prevalent, mechanical solutions. Instead, it is Rayong Engineering & with South Korea, Japan and Singapore incumbent upon businesses to identify Plant Service received accounting for three out of the world’s top and implement their own tailored from the BOI and four countries with the highest density solutions, i.e. a strategy that addresses the Thai Government? of robot workers. In 2017, in South Korea the needs of their specific business Since Rayong Engineering & Plant alone, there were approximately 710 INTERVIEW COMPANY model. Service was established nearly twenty installed robots for every 10,000 To this end, Rayong Engineering years ago, it has benefitted from an employees. In Singapore, the number & Plant Service has established itself as assortment of Board of Investment was 658 out of every 10,000 employees. a leader in research and development (BOI) tax and non-tax incentives. Such In Thailand, however, the interest for machine analytics. This technology benefits include exemptions of import in technological mechanical adaptations has been developed so that mechanical duties on raw materials used for export has yet to mature fully. This means that, problems can be identified and addressed production, an exemption of import at present, there remains a high reliance before they occur. As such, no longer duties on machinery, and finally, an on physical labor. Such a low uptake of is it necessary for factories to store array of non-tax incentives such as mechanical aขutomation can primarily data across numerous hard and soft assistance in facilitating the hiring of be attributed to the significant upfront platforms, but rather everything can foreign labor. costs involved with robotics, a financial now be brought under a single system. To date, the support given by the hurdle that many companies are not This can reduce the disjointed nature BOI has provided Rayong Engineering willing to invest in at this point in time. of existing data, and instead, provide & Plant Service with the ability to ‘push As a well-respected industry leader, a cohesive body of information for the boundaries’ when it comes to Rayong Engineering & Plant Service analytics. In addition to creating an improvements to machine automation plays an essential role in the future overview of the machine and what and maintenance processes. This ability development of Thailand’s machine needs to occur, this advancement can to innovate has resulted in both SCG automation and maintenance sector. also pre-empt any serious issues that and other Thai companies operating at Through a range of measures such may force a machine to be suspended ever-increasing levels of automation. as knowledge sharing and capacity from operation, thus avoiding costly This has resulted in a subsequent building, Rayong Engineering & Plant delays to production. reduction of operating costs, thereby Service seeks to act as a catalyst for As this technology has developed, creating the opportunity for increased increased competition for both the Rayong Engineering & Plant Service has profit margins and growth. With continued domestic and international markets. taken a proactive approach to providing investment in machine automation by This will, in turn, spur further demand services to a range of business sectors the BOI, in particular in the research for the company’s services, and propel including petrochemical, power generation and development fields, it is anticipated Thailand forward as an innovator within and food manufacturing. This support that the sector will continue to develop the burgeoning machine automation extends far beyond general servicing and provide a strong platform for future sector. and maintenance, but rather shifts the growth.

Thailand Investment Review 09 BOI’S MISSIONS AND EVENTS continued investmentandaswiftrecovery. and the responsive measures implemented to ensure Thailand’s effective response to the public healthchallenge Research Center.Duringthewebinar,panelistsdiscussed Dr. CharlKengchon,Executive ChairmanofKasikorn Policy Bureau, Fiscal Policy Office, Ministry of Finance; and Dr. PisitPuapan,Executive DirectorofMacroeconomic Ms. Duangjai Asawachintachit, Secretary General of the BOI; August. Thesessionfeatured entitled “SupportMeasuresfor Economic Recovery” on 5 10 August toDecember thisyear. Selected participantswillgothrough intensivetrainingfrom support andstrengthen Thailand’s outboundinvestments. experienced entrepreneurs. The BOIhostedtheseminarto was attendedby55selectedThai investors,alongwithmany empowering Thaiinvestorsin foreignmarkets, theseminar Thailand inthemidstofongoingcrisis. pandemic andtheopportunitiesthatthisprovidesto of robotics and automation worldwide due to the global the discussionshighlightedoverall surge intheadoption incentives tosupporttheroboticsandautomationsector, meeting agendafocusedonthedirection of investment of the Center of Robotic Excellence(CoRE). Whilethe Thai-German Institute;andMr.RungsakNawong,Director Industry; Mr. Somwang Boonrakcharoen, President of the Dr. Julapong Taweesri, Deputy Permanent Secretary of Secretary General, hosted ameetingof5August with together withMr.NaritTherdsteerasukdi, BOI’sDeputy Ms. DuangjaiAsawachintachit,BOI’sSecretary General, 2020: 5 August Thailand Investment Review distinguished panelists including distinguished panelistsincluding hosted anonlinewebinar Commerce inThailand(JFCCT), the JointForeign Chambersof The BOI,incooperationwith 2020: 5 August Ms. Duangjai Asawachintachit, Ms. DuangjaiAsawachintachit, 2020: 8 August Center on 8August.Aimedat Overseas InvestmentSupport at aseminarheldtheThai delivered the opening remarks the BOI’sSecretary General,

Japan. support thedigitalindustryandecosysteminThailand the present situation and the measures implemented to from Thailand andJapan,thewebinar’spanelhighlighted Asia PacificCo.,Ltd.Addressingmorethan590participants Development R&D Center, Panasonic Automotive Systems Kawase,GeneralManageroftheSoftware and Mr.Kazushi Mr. Yutaka Ueno,Director of JMNCSalesNTTThailand; Director of the Ministry of Economy, Trade and Industry; by Mr.YoshitakaThe webinarwasalsojoined Yamamuro, industry inThailand”atthevirtualinvestmentwebinar. “Current situationandsupportmeasuresforthedigital General, deliveredhispresentationonthetopicof Mr. Chokedee Kaewsang, the BOI’s Deputy Secretary 31 July2020: healthcare services fortheelderly. industry as a robust foundation forthe development of medical both partieshighlightedthestrength ofThailand’s accommodate the aging economy. During the meeting, product andservicedevelopment canbesteeredto discussed ways in which the business direction of Thailand’s headquarters forameetingon14August.Theparticipants Vice PresidentofThaiCaregivers Association to the BOI the SeniorHealthServiceandTradeAssociation welcomed Dr. Kengpong Tangarunsanti, President of General, andmembersoftheBOI’smanagementteam Mr. NaritTherdsteerasukdi, theBOI’sDeputySecretary 2020: 14 August

THAI ECONOMY AT-A-GLANCE Key Economic Figures Unemployment Investment Growth (2020*) Market Profile GDP 2020* (2019) US$ 493.7 Billion 2019 2020* 2.1% -2.1% Population (2020*) 66.56 GDP per Capita Million US$ 7,103.2 / Year 1%

GDP Growth Headline Inflation Export Value of Goods Growth 2020* Minimum Wage 2019 2020* 2019 2020* THB 313 - 336 2.4% -5% -0.54% 3.2% -8% US$ Approximate US$ 9.7 - 10.4 Note: *Estimated value l Source: NESDC (Data as of May 2020) Source: National Statistical Office Source: Ministry of Labour, BoT

Top 10 Export Markets (January - June 2020)

Rank Value Share (US$ million) United State 16,396.40 14.34% China 14,595.80 12.76% Japan 11,173.00 9.77% Export Figures Hong Kong 5,819.10 5.09% Vietnam 5,262.00 4.60% Export value (USD million) Singapore 5,172.90 4.52% Jan - Dec 2018 : 252,956.98 Indonesia 4,839.70 4.23% Jan - Dec 2019 : 246,244.51 Australia 4,505.60 3.94% 81,620.30 Jan - April 2020 : Switzerland Year-on-year Growth : 1.19% 4,136.20 3.62% Malaysia 3,837.10 3.36%

International Top 10 Exports Competitiveness Value E-Government Goods / Products (US$ million) Share Development Index 2018 : 73rd 2020 : 57th 1: Precious Stones and Jewelry 10,077.84 8.81% 2: Motor Cars and Parts 9,312.21 8.14% 3: Computers and Parts 8,806.82 7.70% Global Competitiveness 4: Rubber Products 5,437.80 4.76% Business 2018 : 38th 2019 : 40th 5: Plastic Beads 3,798.74 3.32% 6: Electronic Integrated Circuits 3,444.05 3.01% 7: Chemical Products 3,276.60 2.87% World Digital 8: Machinery and parts 3,075.23 2.69% Competitiveness Ranking 2018 : 39th 2019 : 40th 9: Refined Fuel 2,855.90 2.50% Time to set up business : 4.5 days 10: Air Conditioners and parts 2,841.59 2.49% Source: World Bank, WEF and IMD Source: Ministry of Commerce

Exchange Rates Tax Rate (Data as of 14 August 2020) Corporate Income Tax: 0 - 20% Personal Income Tax: 5 - 35% THB 31.23 THB 41.01 THB 37.04 THB 29.43 THB 4.54 VAT: 7% Witholding Tax: 1 - 15% USD GBP EUR JPY CNY Source: the Revenue Department Source: Bank of Thailand (Data as of May 2020) ABOUT BOI The Office of the Board of Investment (BOI) is the principle goverment 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 incentive to foreign investors in Thailand, including tax and non-tax incentives. A few 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.

BOI OVERSEAS OFFICES

Beijing Shanghai Seoul Tokyo Osaka Taipei Guangzhou Hanoi Jakarta

Tokyo Beijing Thailand Board of Investment, Thailand Board of Investment, Head Office, Office Of The Board Of Investment Tokyo Office Beijing Office 8th Floor, Fukuda Building West, No.21 Guanghua Road, 555 Vibhavadi-Rangsit Road., Chatuchak, Bangkok 10900, Thailand 2-11-3 Akasaka, Minato-ku, Chaoyang District, Beijing, Tokyo 107-0052 Japan P.R. China 100600 Tel: (+66) 2553 8111 Fax: (+66) 2553 8315 Email: [email protected] Tel: +81 3 3582 1806 Tel: +86 10 85318755-57, Fax: 81 3 3589 5176 +86 10 85318753 E-Mail: [email protected] Fax: +86 10 85318758 E-mail: [email protected] Los Angeles Frankfurt Seoul Thailand Board of Investment, Thailand Board of Investment, Thailand Board of Investment, Sydney Los Angeles Office Frankfurt Office Seoul Office Thailand Board of Investment, Royal Thai Consulate-General, Investment Section, th 611 North Larchmont Boulevard, Royal Thai Consulate-General #1804, 18 floor, Koryo Daeyeongak Center, Sydney Office 3rd Floor Bethmannstr. 58,5.0G 60311 97 Toegye-ro, Jung-gu, Seoul, 100-706, Suite 101, Level 1, 234 George Street, Los Angeles CA 90004, USA Frankfurt am Main Republic of Korea Sydney, NSW 2000, Australia Tel: +1 323 960-1199 Federal Republic of Germany Tel: (+82)2 319 9998 Tel: +61 2 9252 4884 Fax: +1 323 960-1190 Tel: +49 (069) 92 91 230 Fax: (+82)2 319 9997 E-mail: [email protected] E-mail : [email protected] Fax: +49 (069) 92 91 2320 E-mail: [email protected] Email: [email protected] Jakarta New York Taipei Thailand Board of Investment, Thailand Board of Investment, Paris Thailand Board of Investment, Jakarta Office New York Office Thailand Board of Investment, Taipei Office Royal Thai Embassy, 7 World Trade Center Paris Office Taipei World Trade Center Room:3E40 Jl. DR Ide Anak Agung Gde Agung 250 Greenwich Street, Suite 34F 8 Rue Greuze 75116 Paris, France No.5 Xinyi Rd., Sec.5, Taipei110 Kav. E3.3 No.3 (Lot 8.8), New York, NY 10007, USA Tel: 33(0)1 56 90 26 00-01 Taiwan R.O.C. Kawasan Mega Kuningan, Tel: +1 212 422 9009 Fax: 33(0) 1 56 90 26 02 Tel: (886)-2-2345-6663 Jakarta 12950, Indonesia Fax: +1 212 422 9119 E-mail: [email protected] FAX: (886) 2-2345-9223 Email: [email protected] E-mail: [email protected] E-mail: [email protected] Mumbai Hanoi Stockholm Thailand Board of Investment, Guangzhou Thailand Board of Investment, Thailand Board of Investment, Mumbai Office Thailand Board of Investment, Hanoi Office Stockholm Office Royal Thai Consulate-General Guangzhou Office 26 Phan Boi Chau Str., Hoan Kiem, Stureplan 4C, 4th Floor 12th Floor, Express Towers, Royal Thai Consulate-General Hanoi, Vietnam 114 35 Stockholm, Sweden Barrister Rajni Patel Marg, Nariman Point No.36 Youhe Road, Haizhu District, Tel: (84) 24 3823 5092-4 Tel: +46 8 463 1158, +46 8 463 1174 Mumbai 400021, India Guangzhou 510310 P.R. China Email: [email protected] Fax: +46 8 463 1160 Tel: +91-22-2204-1589 Tel: +86-20-8385-8988 ext. 220-225, [email protected] +91-22-2204-1590 +86-20-8387-7770 (Direct Line) Fax: +91-22-2282-1525 Fax: +86-20-8387-2700 Email: [email protected] E-mail: [email protected]

Osaka Shanghai Thailand Board of Investment, Thailand Board of Investment, Osaka Office Shanghai Office Royal Thai Consulate-General Royal Thai Consulate General, No. 18, Bangkok Bank Building, 7th Floor Wanshan Road, Changning District, 1-9-16 Kyutaro-Machi, Chuo-ku Shanghai 200336, P.R. China Osaka 541-0056, Japan Tel: +86-21-5260-9876, Tel: (81-6) 6271-1395 +86-21-5260-9877 Fax: (81-6) 6271-1394 Fax: +86-21-5260-9873 www.boi.go.th E-mail: [email protected] Email: [email protected]