Express Visa And Incentives For Foreign Investors In Thailand

Embroidery is an old art that used to be a sign of wealth and status. However, instead of fading into oblivion, embroidery has become relatively popular particularly with the introduction of digital embroidery machines. The demand for embroidery supplies has dramatically increased because of the need to put embroidered designs on almost anything and not only clothing.

In order to boost investment and stimulate economic growth, Thailand is planning to make amendments to its business policies. The measures that are being considered by the country’s junta will hopefully attract foreign businesses and investments to the Eastern Economic Corridor, the special economic zone that focuses on developing high technology industries like bio-chemicals, petrochemicals, robotics, aviation and electric cars.

One of the measures being considered is the “smart visa” program that will provide express visa to selected applicants that the government deems vital to economic development. The measure hopes to attract more science and technology experts, senior executives, investors and start-ups.

The government of Thailand wants to send a clear signal to foreign businesses that investments will be facilitated. An additional come-upon to foreign investors is the implementation of tax breaks, 99-year land leases and fast investment approvals.

Ever since the government launched the Eastern Economic Corridor in 2017, 259 investment projects have been approved by the Board of Investment. The investments are worth $9.6 billion but the government sees more potential for new investment once existing laws are amended.

According to foreign investors, the outdated Foreign Business Act of 1999 is a big hindrance to investments in the logistics and tourism sectors. The law was passed to protect domestic businesses but it prevents foreign investors to have majority share in Thai companies. If the law is changed to become more open and flexible, foreign businesses can operate more smoothly. Thailand would also become a more competitive place for foreign investments.

If you are looking for embroidery supplies, your best option is a brand that has gained a good reputation for quality and good service through the years. In Bangkok, Thailand, you can find providers of embroidery supplies that uphold the values of innovative solutions and delivers quality products to customers abroad.