BOI Investment Conference 2019
The overdue boost for Thai-Spanish investments and business relationship started today
The business relationship between Thailand and Spain are grossly disproportionate to the relevance to both countries in its respective region. Thai inbound foreign direct investments consist mainly of 36 Spanish companies, while outbound foreign direct investments count three Thai companies (Indorama Ventures, CP group, Minor) investing in Spain only. It is the intention of Thailand’s Board of Investment as well as the Ambassador of Spain to the Kingdom of Thailand to promote and encourage investments in both directions to give both countries the due place in the FDI statistics.
Driving force in doing so is the Spain ASEAN Business Association, the organizer and promoter of the investment seminar “How to do business in Thailand and Spain” which took place on May 21, 2019 at the Offices of the Board of Investment in Bangkok. This milestone event has been kindly supported by the BOI as well as AVCO Legal, an international law firm and cooperation partner of PUGNATORIUS Ltd.
Outbound foreign direct investment opportunities for Thailand’s industry
The event had been inaugurated not only by high-ranking officials of the BOI but also by H.E. the Ambassador of Spain to the Kingdom of Thailand. Business opportunities in Spain have been outlined by the Economic and Commercial Counselor of Spain at the Embassy of Spain in Bangkok. The former Ambassador of the Kingdom of Thailand to Spain presented her personal perspective. Various Spanish and Thai companies, as well as the Federation of Thai Industries, added their valuable perspective on Thai-Spanish business relations. PUGNATORIUS Ltd. gave a presentation regarding the legal, tax and regulatory framework for Thai outbound investments abroad.
Bangkok hosts the conference ‘How to do business in Thailand and Spain’
Not only Thailand’s well-known public companies act as a global player when investing in foreign companies as a joint venture partner or financial investor. Even international conglomerates use their Thai affiliate company as the perfect vehicle for outward foreign direct investments. Also, Thai wealthy families and individuals are keen to invest abroad to mitigate the risk profile in their investment portfolio.
The government is marketing Thailand as an emerging investor in business abroad via outbound direct investment and quickly follow words with deeds: With the introduction of investment promotion for outbound projects in 2015, the attractiveness of foreign investments has risen for Thais. While the rules and policies are generally designed for Thai companies, foreign investors with a Thai corporation or multi-national enterprises with an affiliate in Thailand should seriously consider investing abroad through their Thai entity.
Thai outward investments will gain in importance not only for Thailand’s economy but also for foreign companies, looking for an investor in their industry, property, and people. Solid knowledge regarding the do’s and dont’s will be the key to success.
Thanks to our friend Antonio Vinal of AVCO Antonio Viñal & Co. Abogados in Madrid, Spain as well as ASEMPEA Spain-Asean Business Association, for organizing the event and being part of its success!
Professional support on Thai OFDI for Thai companies and foreign targets is further explained at “Thailand goes abroad: Thai outbound investment support.”