At the end of March this year I met with the Executive Director of the Thailand Board of Investment, Mr. Chanin Khaochan, at the Impact Event and Exhibition Centre in Bangkok.
The BOI is a government agency reporting directly to the Prime Minister’s Office. Its core tasks and responsibilities are to promote (foreign) investment in Thailand and investment by Thailand abroad. The BOI:
- advises and informs on investment opportunities and the prerequisites for possible investment subsidies,
- establishes contacts to Thai companies for investors, and
- supports the industrial networking and procurement of local suppliers.
Mr. Khaochan has worked for the BOI in various countries abroad, including 3 years at the Thai Consulate in Frankfurt and Japan. In Germany he has gained experience with German investors who are interested in the Thai market. Especially in Thailand, he has a qualified network to various industries and branches of industry, including Small and Medium Enterprises (SME).
Communication is a key factor
From Mr. Khaochan’s point of view, communication is one of the key factors when it comes to bringing together businesses from the culturally very different countries of Thailand and Germany. In Thailand, foreign businesspeople are first of all regarded as guests who need to be won at a human level. Only then does the question of business cooperation arise. While the Thai market holds some challenges, it appreciates German products and know-how and is interested in contacts to German companies.
The facts that there is a fundamentally strong interest in expanding economic relations and that the Thai government supports investments are also shown by the new large event and exhibition centre Impact in Bangkok near Don Mueang airport. Unlike in Germany, trade fair events in Thailand are not only perceived from the economic aspect of establishing contacts: It is often possible to get free access to the trade fair events by using free tickets on various platforms on the Internet. A visit to a trade fair in Thailand thus also serves as leisure entertainment and offers interesting opportunities for companies to make direct contact with end customers.
International Desk for Investors
The law firm Zimmermann offers an international desk and also cooperates with local companies in Thailand. If you would like to invest in Thailand, get in touch with us, and we will be pleased to assist you in building a strong contact network.