According to the Law on Foreign Trade in Thailand, certain types of activities are reserved only for Thai citizens. As a result, foreign entities or firms who wish to do business in Thailand in one of the prohibited classes of business, have to obtain a foreign business license. “The Foreign Business Act (FBA), B.E. 2542 (1999) is enacted to govern business operations and activities involving foreign nationals and entities”.
The Thai government has approved measures to encourage investment in special economic zones (SEZs). The purposes for developing the SEZs include the acceleration of border trade, increasing border security, promoting the greater distribution of income, and enhancing Thailand’s competitiveness in the ASEAN Economic Community.
In 2021, Thailand is the world’s 53rd-largest country by area, 20th-largest by population, and the 28th-largest in the world by economic size. With a newly industrialized emerging market economy, international investors know the country for its robust growth rates that are being driven by a rapidly expanding population and growing exports around the world.