by Teuvo Tuomi | Jun 24, 2024 | Bangkok, Infrastructure, Investment, News, Thailand, Tourism
Thailand’s Cabinet has asked the Interior Ministry to amend the Condominium Act by increasing the foreign ownership limit from 49% to 75% and to amend the Land Act by allowing foreigners to lease land for 99 years, up from the current 50. However, although...
by Teuvo Tuomi | Jun 23, 2024 | Taxation, Imports, Manufacturing, News, Shipping, Thailand, Trade
Thailand’s Finance Ministry will begin collecting value-added tax (VAT) on all imported goods, including those priced below 1,500 baht. The ruling is effective from 5 July until the end of the year, according to the Royal Gazette. The reason for collecting VAT...
by Teuvo Tuomi | Jun 22, 2024 | Thailand, Digitalization, Environment, Infrastructure, News, Reports
Phuket has been ranked the top province-based smart city in Thailand. At the same time, the Wang Chan Valley in Rayong province was named the leading city-based smart area in the country, according to the Thailand Smart City Competitiveness Index 2023. The index...
by Teuvo Tuomi | Jun 20, 2024 | News, ASEAN, OECD, Thailand, Trade
The OECD Council has unanimously decided to commence the accession process with Thailand. Thailand has now attained the status of an OECD Accession Country. Joining the 38-nation group would enable Thailand to play a more prominent role on the global stage and elevate...
by Teuvo Tuomi | Jun 12, 2024 | Business, Manufacturing, News, Thailand
KKP Research reports that Thailand’s manufacturing production index declined over 15 months between December 2022 and March 2024, despite a global trade recovery. The number of factory closures in the country has been rising since the second half of last year....
