Month: July 2020

AI Healthcare Industry In Thailand

There are lots of technologies available in the world today that used for a different purpose. Different size of business gets excellent benefits with the help of technology. Start the business with the best technology is a significant aspect of many startups today.

You can choose the right location and start action immediately for business. Thailand is the most preferred destination to start the business. Individuals must understand Thai ethics and culture that ideal for business. The Healthcare industry is the most popular economic driver in Thailand. You can start a business in Thailand to adopt the best technology.

 

Artificial intelligence is the best technology that gains immense popularity among many businesses in the present time. It provides excellent support for purchasing, researching, and execute the right tools in the healthcare industry. It acts as a unique solution for different healthcare organizations in Thailand.

The country can meet the demands and needs of patients very quickly with the best solution. The industry can keep up in touch with the latest offering and modern tools. It is a challenging component of the healthcare organization. It is a great way to improve workflow demands and service lines in the business.

 

Deploy The Right Technology:

The healthcare industry in Thai gains is promising benefits with artificial intelligence. If you are interested in doing business in Thailandyou can opt for this technology to cater to the healthcare needs of Thai people. You can carefully deploy this one in an organization and measure every process. An entrepreneur should make a perfect plan for when, how, and why to add AI for operational and clinical pathways. You can carefully monitor impact in the industry. The country follows a perfect key component for changing the landscape of the healthcare industry. This will helps you to make changes in the healthcare environment.

The government of Thai fulfills healthcare challenges and objectives with the support of this technology.  It is useful for strengthening the medical hub and provides healthcare service to the patient in a quick way. The Thai business covers from hospital equipment to diagnostics. The healthcare sector is the main priority of the entrepreneur to invest money.

It is great for an excellent return on investment. The startups can try to attain the goal with ideal services like incubation, accelerate program, and funding. The government can conduct an exhibition that shows a wide range of healthcare and medical innovation with state of the art diagnostic and imaging equipment.

A discussion with the business consultants in Thailand may be fruitful to Startup in Thailand

 

Transform Healthcare To AI:

Over the past few decades, artificial intelligence widely adopts by a different organization. The government of Thai wishes to integrate artificial intelligence for healthcare transformation. It is the best option to enhance sanitation and public health. Ministry of public health of Thai puts effort into deploying AI to keep track of data of patients.

It is advantageous for the healthcare industry to identify the health risk of people and disease hotspots quickly. The digital transformation is ideal for social good and expands the capability of government. It creates a positive impact on every citizen of Thai.

The startup Asia gives you a great chance to build perfect business qualities. Thailand is a possible destination for those who start the healthcare organization. You can understand what type of technology used by the already existing organization in Thai. You can know more about them and make the right decision to start the business.

You can meet country requirements for doing business. This type of technology is suitable for smart healthcare services. The Thai government can keep up the smart healthcare sector. It begins with enhanced public sanitation and hygiene. The industry can find out public risks in advance and provide service based on their needs.

 

Save Money On Medical Expenses:

The medical industry relies on using the best solution to enhance service. The country provides a wonderful chance for foreigners to invest money in this sector. The entrepreneurs are Starting a business in Thailand in the healthcare field to receive an excellent advantage. You can understand the rules and regulations managed by the healthcare department in Thai. You can realize government policy to run a business and provide service to people. The technology aids the healthcare sector to prevent the substantial cost.

 

Enhance Productivity:

Artificial intelligence is a better platform for the healthcare sector to supports patients make use of innovative features easily. It is the fastest-growing sector in the Thai country. You can follow country rules to do business. The startups visit the official site of Thai and gain proper information about the different sectors. In this way, you can get an idea of how to start a business in Thailand.

You can gain massive benefits of using such technology in the organization. It is the most respected platform for the healthcare industry for enhancing productivity, security, and satisfies patient needs.

The healthcare sector uses technology as a service to gain an excellent user experience. The industry makes sure real-time analytics and provides a stunning facility to the patient. It is advantageous for healthcare provides to follow appointments.

The Thailand healthcare sector ensures a prominent position to speed up the digital transformation journey. It is excellent for hospital workforce measurement, nurse and doctor appointments, patient schedule processing, and others. Both public and private hospitals can implement this technology for growth purposes.

The healthcare industry can take massive benefits from fast and better processing of patient, doctor, and nurse schedule regularly.

 

Excellent For Better Insights:

The country wants to provide better business value to the entrepreneur with predictive analytics. The industry needs to use an ideal platform that better for patients to receive medical service. The healthcare sector can create a perfect model that demanded service. The healthcare industry makes use of AI as an efficient tool. The healthcare sector can get great benefits from government efforts to provide healthcare services globally. It is the best option for the organization to increase patient numbers and offers treatment on time.

 

Great For Imaging Analytics:

Artificial intelligence imaging analytics is suitable for the medical industry to know pattern recognition and pixel by pixel examination of great resolution. It is a better solution for pathology slides and imaging studies. It provides clinical decision support utilizing the radiology support tool. It is a beneficial tool for radiologists to move quickly via low complexity cases. The healthcare providers put effort into challenging patients of a great level of expertise. It is a promising platform in the healthcare industry. It helps the organization to know features and identifies concerns accurately.

 

Great Tool For Workflow Optimization:

Workflow optimization is a top concern for different sizes and types of healthcare organizations. The Thai government takes the immediate step to minimize the frustration of the healthcare sector. With the use of artificial intelligence, the organization can automate the administrative task and manage proper workflow. If it executes properly, a natural language processing tool enables the organization to improve the voice to text dictation and summarize documents simply. It delivers the relevant data elements from text free documentation for analytical concern.

 

Good For Medication Safety And Reconciliation:

The Thai government highly needs to use such a platform for medication safety and reconciliation. It is incredible for patients and healthcare providers. Now, the majority of subscribing moves to an online system. Data about medication is necessary for analytics. It is the best time for opening a business in Thailand and gain a good outcome.

The technology is ideal for the industry to access dosage error and find out the potential negative interaction. It is a great way to limit opioid abuse and make sure that patients gain the right treatment for high-risk conditions.

 

Enhance Global Reach:

The country focuses on the right way to help the healthcare industry and engage them moves to the next level. The government of Thailand welcomes foreign investors to make a significant investment in this sector. It increases the interest of investors in the healthcare business. The country provides full support to entrepreneurs for setting up a business in ThailandThe country wants to capitalize on the development of medical tourism. Thailand can shift the public policy towards a developing environment that better for medical tourists.

The main country plan is to become a global medical hub that better to minimize visa restrictions and develop smart visa options. The artificial intelligence platform improves the treatment options and keeps track of the attention of patients with the best medical facility and treatment. It is the best opportunity for the healthcare sector to develop the service. AI is a great solution to match up the service, similar to a developed nation.

 

Precision Medicine And Clinical Trial:

The medical industries are very excited to use this platform to achieve potential growth. They are wondering about incorporating AI for the process of treatment pathway guidance, drug recovery, clinical trial matching, and others. It is a stunning tool for the medical sector to minimize the time, expense, and the failure rate of getting new drugs.

It supports healthcare providers to work with patients effectively and prefer the best treatment option. Matching the patient becomes easier with this tool. The clinical trials smoothly accelerate and engage physicians to provide treatment to the patient. So, it is a perfect tool for the healthcare industry for patient management and engagement. The country allows foreign nations to enjoy the healthcare journey. It brings access to the patient for getting a future improvement plan.

Contact the Startup Specialists for doing business in Thailand

Some more Interesting Reads : 

Top 10 Business Opportunities in Thailand

What makes Thailand a great startup hub   

Global Economic growth of Thailand 

Thailand Digital Scenario 

How can a Startup Consultant Help you to Run your Business

Initial Steps for Starting a business in Thailand

The post AI Healthcare Industry In Thailand appeared first on StartUp in Thailand.

Source: Asian Correspondent

Know The Top 15 Profitable Business In Thailand In 2020

Thailand is the 2nd largest economy in Southeast Asia. Thailand is equipped with the widest range of the industrial sector along with the service sector. World Bank also recently recognized Thailand as “one of the great development success stories” for its massive developments as well as social indicators.

Many people are looking for how to Startup in Thailand to gain a better business reputation. Of course, starting a business in Thailand becomes one of the high-end aspects and suitable for easily saving your money. When you are looking for the best business opportunities in Thailand, then below are some of the most top 15 business options that would give you more reputation and business success in 2020.

 

Tourists’ Guide Services:

Thailand is one of the most beautiful southeastern Asian countries, also widely known for its Tourism. Thai economy normally relies on tourism as it would generate more business opportunities as well as investments for the foreigners and locals. Tourism in tourism is at peak these days. When you are well versed in most of the famous tourist spots in the country, then you can also create jobs with generating more economy.

When you are opening a business in Thailand on this basis, it would definitely be helpful for quickly attracting more business. Starting as a tourist guide for the foreigners and locals would be a much easier option. Most of the tours would be hiring tourist guides to avoid unexpected situations.

 

Tourism Agency:

According to the Ministry of Tourism and Sports, the tourism industry in Thailand has mainly contributed to about 17.7% share in the GDP in 2019. In fact, the Tourism Authority Thailand or the TAT also forecasted that tourism revenue in the country has mainly increased to more than 3.1 Trillion Baht. When you are setting up a business in Thailand based on the tourism agency, then it is important to make appropriate advertisements.

Finding a good business location based on the preference is quite important, and you can easily deal with the customers. It is easier for choosing tourist places along with offering tourism packages. Starting the travel agency business is most easier way in Thailand, and you could also make the travel arrangements for the tourists. Providing a thorough service-based business would be giving you a better option for making money.

 

Restaurants In Thailand:

Thai people love traditional food. They also fond of food from across the world. When you are starting a business related to the restaurant, then you could easily gain more customers. Since tourism in Thailand is higher, you could opt for starting the restaurant in the important spots. Fast food culture in Thailand has been highly popping out so that it would be a much more efficient choice of gaining more profit. People do not have time in the kitchen in the busy world, and they are looking for the best restaurant to enjoy the meal.

 

Starting Hotels:

Most of the foreigners visiting Thailand prefer to enjoy their stay in the well-reputed and spacious hotels. When you are fond of opening the hotels, then choosing Thailand is a wonderful spot. Most of the people prefer to pick the affordable apartments in hotels for living in. When you are looking for the right investment than opening the hotel for the tourist would be the finest way.

Renting the rental income becomes a more excellent choice in Thailand, and it is one of the right investments, with more number of features and amenities, you could easily attract many numbers of tourists. Letting extra house rooms for the tourists would be a much more efficient choice. It is also the best option to use online facilities for allowing customers to book hotels.

 

Baby Care Business:

in the modern-day, parents were busy earning money and do not have time to look after their babies. Many numbers of parents in Thailand are looking for the best baby care for easily letting their infant while they were busy in their jobs. Therefore starting the baby care business in Thailand would be a much more efficient choice for easily earning more money. Parents also want their babies to be in the hands of the safe hands. Make sure that you have the best caring professional hired for looking after the babies.

 

Photography Business:

When you are deeply passionate about photography, then it is best to start a unique idea of business in Thailand. It is an easier option to start a business in Thailand under this niche. It is quite a profitable business across the world. Thailand is a beautiful country filled with natural sceneries and culture. To get started on opening the photography business, you can also buy the best DSLR Camera. Having the website along with the phone, email and many others would be a much more efficient choice. Choosing the right location or the business would be a much more effective choice for easily attracting more number of customers.

 

Creating Delivery Business:

Thailand is one of the most developing countries in the world. With its GDP rising every year, more number of businesses have been created and the perfect location for gaining more. Numerous startup consulting firms also could be seen in this beautiful country. A Service-based industry in Thailand also holds the top position across all the sector.

Varied types of delivery businesses have been gained immensely across the world. This business helps save more time in the process. When you are Thai citizens or foreigners, then you can consider the delivery business in Thailand. This business has gained more popularity in recent years as many people could order everything from their homes.

 

Creating A Digital Marketing Agency:

With the growth of the internet facilities in Thailand, everyone could easily access information, business products, and service even from their home. Of course, marketing the business through the digital medium becomes the most significant choice. Starting the digital marketing business in Thailand would be the most effective way of easily gaining more lucrative opportunities. These become the most trending phenomenon. When you have the appropriate knowledge and experience, then you could also easily gain more profit in the field. Opening a digital marketing agency of your own is not a recommended choc, so it is best to choose the startup consulting services for knowing better tactics.

 

Freelance Business In Thailand:

With the modern trend on the freelancing have been increased in 2020, most of the people especially love to earn money from their home. Of course, it is considered as one of the effective ways for easily ranging more money instead of visiting the traditional offices. Now you have a better option for exploring yourself with a wide number of freelancing services available online.

 

Export-Import Business:

Thailand is also a member of the WTO or World Trade Organization, ASEAN Free Trade Area (AFTA), and many others. Thailand also has acquired the free-trade agreements. The economy of Thailand is mainly based on the export-dependent so that it also paved wide reasons for the gross domestic product.

Starting the import and export business in Thailand for foreigners would be a much more efficient choice; in fact, it is easier for saving your time and managing everything. Starting this business also requires the legal paperwork which you need to be aware of.

 

Graphic Designing:

Are you interested in starting a business in Thailand? Are you looking or new business ideas on small business investment in Thailand? Choosing Graphic Designing would be a much more effective choice of easily gaining a better solution. When you are an innovative and creative person with knowing more about the basics in graphic design. With the increase in the need for the most attractive business campaign, you can easily promote with more advertisements. Some of the major factors to be considered as the

 

IT Or Software Firms:

Normally, the Top tier countries would be outsourcing the IT-related tasks to other companies for reducing their task. When you are an expert in the IT sector and have more knowledge, then you could easily open the company in Thailand. Creating a software house mainly gives you a better option for increasing sales. It is also easier for opening another service such as

 

Starting Ecommerce Website:

In Thailand, most of the people especially prefer to buy the products online. With the increased way of online shopping, it would be a much more efficient way of creating the eCommerce website. Of course, it is one of the best business trends of 2020 with more number of people have been acquiring a greater option for easily implementing a new strategy. Starting the eCommerce website for selling the products to the customers is one of the effective choices.

Buying A Franchise:

When you are starting a business in Thailand from scratch, it would be quite a hectic situation. The main reason is that it involves more knowledge, hard work, and experience. It is also most important for working hard for developing the business along with introducing it in the modern market. When you like to avoid all these, then you can easily contribute to buying the franchise in the country.

 

Real Estate In Thailand:

Most foreigners find it difficult for purchasing the land in Thailand for their business purposes. When you are a native with having the sound experience in the real estate, then it would be a much more efficient choice for handling it. In fact, you could also easily start your real estate consultancy by providing various services under it. It is also easier for attracting foreign and local clients towards the business.

Buying and selling land in Thailand becomes a much more efficient choice when you have experience in the field. In fact, you can easily make money from your business with extensively taking the commissions for the land you purchased as the agent. When you are native, then it would not be any problem. When you are a foreigner, then you could easily start consulting startup in the country as it would easily attract more number of people across the varied sector.

With the wide number of above business opportunities along with the small business ideas, you could easily gain more profit by implementing the right strategy. With lots of opportunities as well as startup ideas, it is easier to start in Thailand. You could easily need business research as well as a better way of planning with executing the idea.

Contact the Startup Specialists for doing business in Thailand

 

Few more interesting reads : 

 

  1. How to obtain financing for your business in Thailand
  2. Business in Thailand – How Different it is from Rest of the World
  3. Brand development is crucial in the early stages of a startup business
  4. How to tackle initial Business Startup Challenges 
  5. How to ensure growth for your startup 

 

 

The post Know The Top 15 Profitable Business In Thailand In 2020 appeared first on StartUp in Thailand.

Source: Asian Correspondent

10 Tech Trends In Thailand Startup For 2020-21

In a fast-moving world, the professional leader has to embrace emerging technologies for discovering many new opportunities in Thailand’s digital transformation economy. Nowadays, everything comes to digitized with snowballing in every industry; Thai business persons digitally enhance offerings, relationships from 2019 to 2022.

 

Since innovation will continue to disrupt all the business so that every industry leader should focus on the advancement of technologies that allows them to enables outcomes with ease. If you need to establish your business or to try to maximize your existing one in Thailand, It is the right time to allowing the digital industry to grow.

Now the business startup consultant services are available for making everything simple and easy. If you need to get professional support for starting a business, you should approach the professional’s startup company. Almost every person foresees steady growth in the acceptance of advanced technologies in Thailand. This country is continuously experiencing modify, and it is famous for its high-tech innovations.

 

Many organizations also demonstrate the ability to maximize as well as visualize how the markets will experience changes because of improving trends. Even these organizations also reinvent themselves to respond in a better way.

 

If you are new to the professional world, it is better to get help from startup consulting services as well as get advice from the stakeholders through modern as well as emerging technologies, capabilities to cover all your needs and models.

 

Over the last decade, almost every occupational person adopting Digital Transformation trends to begin their investment journey calmly. Adapting to new technology is essential for starting a collective digital transformation journey, 2020; of course, this will be defined by current new technologies that may surprise you.

 

If you have a dream of starting a new company or prefer to expand your existing one in Thailand, you must go through further, here thee list of top ten Trends which can be useful for starting a business in Thailand for 2020. There is plenty of business in thailand for foreigners, but before going to initiate anyone, it can be essential to get in-depth knowledge related to the Thailand market.

 

  1. Advanced Wi-Fi Technology For The Faster Moving World

 

WiFi 6 and 5G are not similar; each technology comes with its benefits. Both techniques bring a lot of benefits to us; usually, the business people are expecting stable connection speeds in 2020 for startup asia. Many companies will put efforts to bring the advancement in technology and put efforts into bringing an end-to-end combination of fast connectivity for both offices as well as home.

 

The needs of ultra-fast internet connectivity are always increasing, so it can be the right platform for anyone to achieve their goals with the right kind of occupational plan. Now starting a business in thailand is not a complicated thing. Come out from hassle; it is necessary to create a suitable method as well as need to have appropriate knowledge about the new standard’s value.

 

2. SG Technology

 

There are a plethora of business opportunities in thailand, to take pleasure in it; it is essential to utilize advanced technologies. In general, 2020 will be the year of 5G. Now the famous companies in telecommunications bring some advancement. The global 5G deployments stay on pace, and the best Android handset makers releasing 5G phones will be hit the ground running in 2020.

 

Adopting into new technology is essential to stay top on the market. Of course, IoT-intensive techniques hungry for 5G, and the value should not be limited to phones. It can vary based on the transformation of daily lives, and due to the changing technology evolution, we will experience limitless changes in telecommunication. The startup consulting firms committed to offering proper consulting services and guidelines for anyone to start their profession with ease. If you are the one and looking for friendly support for starting your occupation in Thailand, then you must approach the experts.

 

3. AI And Machine Learning

 

In the digitalized world, AI and Machine Learning play an essential role in data analytics. Investing in analytics and AI, machine learning is the right choice for making a massive difference in the future. In general, the value of AI, as well as machine learning to data analytics, has three value propositions, such as convenience, speed, scale. Still, many business people take advantage associated with AI and machine learning because this will be useful to get rid of difficulties related to complex data sets. When it comes to starting a business in thailand you should analyze in a fraction, now computer becomes better and AI as well as machine learning algorithms becomes popular choices for profession promotion.

 

Without a doubt, analysis plays an essential role in the business, and it also scaled in the cloud. Unlike any other traditional data analysis tools of yore, it is better to take the benefits of AI and machine learning to make them intuitive. First of all, these are easy to use tools and also reliable when compared to many other options. The speed and accuracy of the analytic tools will be expected to improve significantly in 2020. To start business in thailand you need to have a strong foundation in the machine or artificial learning.

 

  1. Analytics Is A Competitive Advantage

 

In the modern world, most companies are also investing in analytics. Simple, it can be a valuable choice; in this process, customer data to be collected as well as processed into insights for any company because this will be essential to stay on the competitive edge.

Now, profession people are making use of modern analytics tools for taking the benefits of more extended viable options. Are you wondering how to start a business in thailand? You must get help from consultancy services and prefer to take the benefits of leveraging sophisticated analytics tools because this will be useful in identifying various problems and brings the right solutions for ay issues.

 

The consolidation of analytics in the tech world is essential to sort out any problem. Even it considered a real-time processing method as well as it also examined as the dominant focal point, which plays a critical role in the digital transformation in 2020. Professional startup business consultant services available for making everything simple and straightforward, to overcome difficulties in startups, it is better to approach experts for seeking help.

 

5. Blockchain Moves Away From Crypto

 

Blockchain is the popular option among the traders, and it overhyped in the last year, but in the upcoming year, it can utilize for some meaningful use. Of course, we also are known for the advancements and factors of blockchain technology with their subscription. Most global leaders involved in this space as well as started to take real use of technology beyond payments as well as for cryptocurrencies.

 

This platform brings a new range of opportunities to the newcomers and experts. Before going to doing business in thailand, it is essential to watch how blockchain will use in food safety, royalties, real estate, intellectual property, asset management, etc. Without a doubt, blockchain is one of the most popular options, and 2020 could be the start of the blockchain, so try to stay updated with the recent advancements and technology related to it.

 

6. RPA:

 

We all know. Robotic Process Automation is an advanced technique, and it will make significant changes in the industry. Yet it is considered a trendy topic in every industry. RPA leads the way for the new investments even still it continues to grow. Of course, RPA is ideal, as well as considered as a trustworthy option. In 2020 everyone will be making use of RPA investments.

 

Money being pouring into companies, and most companies are already using RPA because this will be useful to create wiggle room to upskill. Additionally, it is an innovative choice for improving the existing workforce to reach the winning formula quickly. The consulting startup services play a crucial role in the development, now most of them taking the features associated with the consultancy services for making everything possible.

 

 7. Acpcs Make Impacts In Laptop Market :

 

Nowadays, we are related to the internet and get support from technology to do different things. ACPCs with embedded 5G, as well as LTE connectivity, plays an important role. First of all, this will play a crucial role in smart, professional partnerships. Whether you are starting a small business in thailand or prefer to form the largest one, it is essential to pay close attention to the ACPCs. It will allow you to enjoy near-full-day battery life and truly helpful for experiencing a lot of changes in our occupation functionalities.

 

 

  1. Xaas, UX/CX

 

Currently, technology makes everything possible, and the technology-adjacent Digital Transformation changes itself. Of course, these factors almost change the tools that enable it. When it comes to setting up business in thailand, you need to highlight the technology-adjacent trends because this will be essential for Digital Transformation discussions and digital privacy.

 

  1. AI Becoming A Rightful Interface

 

In the modern world, we are still experiencing some kind of technical issues when it comes to opening a business in thailand. Yet, the conversational AI becomes useful in the software side. Now it can be utilized in more number of projects, including Microsoft Conversational AI. It will be working incredibly for building a hassle-free platform. Apart from that, this can be useful to follow complex conversations as well as supports you in understanding the nuances of emotion.

 

Due to the increasing needs, this will improve over time. Currently, the smart devices are becoming more popular as well as these are good at isolating human voices from accurately processing natural language as well as noisy backgrounds. First of all, it can offer real-time benefits to users. Before that, it can be necessary for approaching accessible asia business consulting services for getting proper guidelines to start any profession with ease.

 

With technology advancements, we will experience some kind of radical improvements in 2020. It is the right start as well as considered as the great foundations for next-generation conversational AI because this will solidify in the coming year. Are we looking for business for sale in thailand?  You must get in-depth knowledge and experience in advancements to bring some new trends to attract targeted people in the business destination.

 

  1. Digitized Employee Productivity

 

Due to technological advancements, most of the companies are altering traditional and office-based hierarchical companies or organizations. The result of software development will be helpful to structures where innovation, as well as insights, can come. It will be a comfortable choice, with the help of these employees work from anywhere. Still, many of them searching business for sale Thailand online for starting their investment journey, obviously it can be the right choice for making profits with less investment.

 

The advanced software will play an important role and helps many companies map conversations. It would be happening naturally as well as this can be useful for businesses to continue their functionalities as well as conventional processes with minimal interruptions.

 

The usage of advanced technology allows anyone to create a particular interest group; this will be useful in facilitating collaboration, to update all employees related to the new improvements within the organization. If you still have confusion, it is better to get suggestions from the startup consulting services, and the specialists help you throughout the process.

The post 10 Tech Trends In Thailand Startup For 2020-21 appeared first on StartUp in Thailand.

Source: Asian Correspondent

Thailand – The Logistic Hub of ASEAN

As far as the situation stands now, Thailand is located centrally in the mainland of South-east Asia, making it a key in ASEAN logistics and transport hub. The country is emerging as a regional supply chain management hub and overseas companies have already discovered or found new opportunities in the logistics market of the country. The number of Thai provinces sharing boundaries with Laos, Cambodia, Myanmar and Malaysia exceed 30. As costs of production are already increasing in China, lots of foreign manufacturers are trying to set up posts in countries where production costs are lower.

Starting a business in Thailand would most definitely be affected by these factors.

 

The most suitable area as of present is the Greater Mekong Sub-region. Myanmar and Vietnam are the countries that investors had been eyeing and now everyone is turning to Thailand as the next logistics hub for ASEAN Region. The search for alternative bases continues, with Thailand occupying the position as the regional manufacturing powerhouse. It fulfills its role as the key logistics hub for the region. More than half of Thailand’s GDP is earned through exports. The manufacturing industry accounts for more than 80% of the total exports of the country. Thailand is not just the largest automotive producer for ASEAN, the country is also responsible for being the trade bloc’s largest leading supplier of components and electronic equipment. These parts then go to other countries for further processing in the Asian or ASEAN Region.

 

In addition to supplying raw materials to other countries, Thailand is also a major producer of electrical appliances. As a matter of fact, electronics form the largest export category for Thailand. The output consists of computer parts mainly, leading to a huge growth in Thai business. There are integrated circuits and other similar materials for electrical items. Thailand has a key role to play in the sophisticated regional supply chain as the second largest exporter in ASEAN. One of the main challenges is to maintain the rising demands of cross-border logistics services. This includes transporting machinery with components and parts, in addition to the management of supply chain functions, from the source to distribution.

 

In the period of 2014 – 2019, exports from Thailand grew by an annual average of 12% to the other ASEAN countries. The rate of growth was much more rapid to the neighboring countries – Cambodia, Laos and Myanmar, which expanded by 20% annually in the same period. Looking at the opportunities in the logistics industry of Thailand, a lot of foreign logistics companies like UPS, DHL and Kerry Logistics from Hong Kong made their way into the inner reaches of Thailand. As the political situation of the country stabilized in 2015, the prospects of the country in terms of market diversification have improved in recent years. Startup Consulting services can help to grow a business in these scenarios.

 

Regional connectivity and improved Logistics Infrastructure

 

The transport infrastructure development and improvement of customs efficiency in the country have been continuous. This has really brought down the cost of logistics in Thailand over the past decade. According to the Logistics Performance Index of the World Bank in 2014, Thailand ranked 35 among the 160 countries and ranked 3rd among the countries in ASEAN. Thailand had outperformed most of the other ASEAN countries, namely Cambodia, Myanmar and Laos. Thailand has shown very significant growth in the sub-indicator of trade and the infrastructure related to transport throughout the previous 2012 LPI. Setting up a business in Thailand can be quite competitive in these scenarios, where consultancies can offer their insights.

 

The logistics sector of Thailand is dominated by road transport which is about 80% of the total volume of the freight. The most developed mode of transport in Thailand is its roadways. As much as 98% of the highways in the country are paved. If you are to consider the ASEAN highway network, there are 13 highways that connect Thailand with its neighbors, which is the highest for any ASEAN country. At present, the major highways that link Thailand to the other GMS countries are the routes within the East-West Economic Corridor, the Southern Economic Corridor and the North-South Economic Corridor. These corridors make up the backbone of the GMS transportation infrastructure.

 

The major routes that connect Thailand to the other GMS countries include the North-South Economic Corridor, connecting Thailand, Laos, and China, extending over 2000 km, the East-West Economic Corridor, connecting Myanmar, Thailand, Laos, and Vietnam with a total length of 1,320 km and the Southern Economic Corridor, connecting Thailand, Cambodia, and Vietnam, extending 1030 km. The most frequently used corridor used by the cross-border logistics companies in the East-West Economic Corridor, which runs from Mawlamyine Port in Myanmar through central and north-eastern Thailand to the eastern port city of Danang in Vietnam. If you are looking at business opportunities in Thailand, you can use the help of these logistics growth.

 

Such an extensive route allows faster and easier access to the seaport in Vietnam from the regions of Thailand and Laos. This reduces transportation costs as it allows land-sea multimodal transport. Thailand spans about 800 km of the East-West Economic Corridor and more than half of it, is a 4-lane highway and is maintained in very good condition. These conditions are certainly responsible for the tremendous growth of the logistics industry.

 

Opportunities are developing from further Regional Integration

 

Since Thailand is very close to the emerging manufacturing bases in ASEAN, the country is a major source of components, parts and assembly plants that are scattered all over the place. The country exports the most automotive parts among the ASEAN countries. The country has automobile parts, numbering more than 2300 throughout the country. Half the out these suppliers’ offer is exported to the other production bases in south-east Asia. All of these factors combined offer a significant contribution to the development of Thailand as a logistics hub. Getting some positive insight from Startup Consulting firms can prove to be very helpful for businesses.

Thailand is the most developed among the GMS economies. The capital of the country, Bangkok, is one of the key metropolitan cities and a center for commerce in south-east Asia. The city has earned a lot of popularity as a very good sourcing platform for lifestyle products and has attracted a host of international traders that target the regional consumer market. The leading logistics companies have mentioned that a lot of ASEAN and Chinese buyers and exporters prefer to conclude the sourcing deals in Bangkok, especially those from Myanmar, Laos, and Vietnam. The logistics companies can be conveniently appointed to manage the shipments to the markets in the region.

There are increasing chances of subsequent regional integration through the ASEAN Economic Community (AEC) who would create more business opportunities for everyone. The AEC would create a single production base and market in ASEAN. This will allow the free flow of capital, services, goods and skilled labor. There will be tariff cuts too to remove the barriers that exist between the trade routes. Along with the more harmonized and simpler customs procedures, the AEC will boost trade between Thailand and other countries.

Due to the intra-regional trade patterns and industrial development which are becoming more complex, the demand for sophisticated and integrated logistics services is growing. This is especially true for the MNCs who are expanding their reach to the ASEAN markets. Hong Kong logistics companies might find growing opportunities in offering customized supply chain management for exporters and foreign manufacturers who are targeting the ASEAN markets.

 

Trade with neighboring countries continue to flourish

 

There has been an increased level of manufacturing activities. Customer markets in the GMS are also growing, fostering trade between GMS neighbors and Thailand. The border trade of the country with its neighbors contributes highest to its GDP in terms of volume. Malaysia accounts for about half of the border trade with Thailand. The next countries in order are Myanmar at 21%, Laos at 15% and Cambodia at 11%. These cross-border trades have become an important part of the logistics industry of Thailand. There are plenty of companies that are offering acute services in these areas.

The economic liberalization of Laos and Myanmar is expected to continue in the coming years. It is expected that the Thai border trade with these countries will continue to flourish due to these very reasons. There are some companies that are trying to expand the border trades in the north and north-east of Thailand in order to capitalize on the opportunities that arise from the economic integration of Laos and Myanmar. It is a development that will certainly stimulate the cross-border logistics industry. Considering all of these facts, the logistics services in Thailand are booming and having an effect on the ASEAN economy.

 

Thailand will be turned into AEC Logistics Hub

 

There is an undergoing plan to mold the country into a key logistics hub by improving the transportation infrastructure of the country. It will become the key logistics hub of the ASEAN Economic Community when the projects end around 2022. The main goal of this huge project is to develop the logistics services and integrate every transportation platform – air, road, rail, and water, which even stretches beyond the borders of the country. This is because some of the projects form a part of the plan that links the transportation system of the country with that of the neighboring countries.

 

Developing 10 rail routes surrounding Bangkok and the suburbs are being given the highest priority. This should be done at the end of the year. These lines would contribute to the inner-city transportation system and the expansion of the city from the heart of Bangkok to its suburbs. Crowding would be reduced in the central business districts through this effort. As the next part of the investment, the wider transportation system would be improved.

 

The link between Thailand and the neighboring countries through rail would be improved, deploying a double-track system. Investments in this crucial plan would vastly develop the logistics industry. Construction under the project had started in 2015 and it is targeted to be completed in the upcoming 2 years. The double-track routes will help Thailand become the key strategic gateway to the AEC and this will come into effect next year.

 

The infrastructure investment planned for the capital will keep it from being an overcrowded city by keeping residential areas beyond the central business districts and into the suburbs. The listed residential developer would expand the investment in the peripheral provinces of Bangalore. With all these developments underway, Thailand is on its way to becoming the key to the logistics industry for ASEAN. The slow transformation of the country into a thriving economy can be attributed to this factor.

Take a FREE Online Consultation here or get essential tips by downloading this e-Book  on how to Startup in Thailand

Contact the Startup Specialists for doing business in Thailand

 

Few More Interesting Reads : 

The post Thailand – The Logistic Hub of ASEAN appeared first on StartUp in Thailand.

Source: Asian Correspondent

Thailand Is The Logistic Hub For ASEAN – How True Is That ?

As far as the situation stands now, Thailand is located centrally in the mainland of South-east Asia, making it a key in ASEAN logistics and transport hub. The country is emerging as a regional supply chain management hub and overseas companies have already discovered or found new opportunities in the logistics market of the country. The number of Thai provinces sharing boundaries with Laos, Cambodia, Myanmar and Malaysia exceed 30. As costs of production are already increasing in China, lots of foreign manufacturers are trying to set up posts in countries where production costs are lower.

Starting a business in Thailand would most definitely be affected by these factors.

 

The most suitable area as of present is the Greater Mekong Sub-region. Myanmar and Vietnam are the countries that investors had been eyeing and now everyone is turning to Thailand as the next logistics hub for ASEAN Region. The search for alternative bases continues, with Thailand occupying the position as the regional manufacturing powerhouse. It fulfills its role as the key logistics hub for the region. More than half of Thailand’s GDP is earned through exports. The manufacturing industry accounts for more than 80% of the total exports of the country. Thailand is not just the largest automotive producer for ASEAN, the country is also responsible for being the trade bloc’s largest leading supplier of components and electronic equipment. These parts then go to other countries for further processing in the Asian or ASEAN Region.

 

In addition to supplying raw materials to other countries, Thailand is also a major producer of electrical appliances. As a matter of fact, electronics form the largest export category for Thailand. The output consists of computer parts mainly, leading to a huge growth in Thai business. There are integrated circuits and other similar materials for electrical items. Thailand has a key role to play in the sophisticated regional supply chain as the second largest exporter in ASEAN. One of the main challenges is to maintain the rising demands of cross-border logistics services. This includes transporting machinery with components and parts, in addition to the management of supply chain functions, from the source to distribution.

 

In the period of 2014 – 2019, exports from Thailand grew by an annual average of 12% to the other ASEAN countries. The rate of growth was much more rapid to the neighboring countries – Cambodia, Laos and Myanmar, which expanded by 20% annually in the same period. Looking at the opportunities in the logistics industry of Thailand, a lot of foreign logistics companies like UPS, DHL and Kerry Logistics from Hong Kong made their way into the inner reaches of Thailand. As the political situation of the country stabilized in 2015, the prospects of the country in terms of market diversification have improved in recent years. Startup Consulting services can help to grow a business in these scenarios.

 

Regional connectivity and improved Logistics Infrastructure

 

The transport infrastructure development and improvement of customs efficiency in the country have been continuous. This has really brought down the cost of logistics in Thailand over the past decade. According to the Logistics Performance Index of the World Bank in 2014, Thailand ranked 35 among the 160 countries and ranked 3rd among the countries in ASEAN. Thailand had outperformed most of the other ASEAN countries, namely Cambodia, Myanmar and Laos. Thailand has shown very significant growth in the sub-indicator of trade and the infrastructure related to transport throughout the previous 2012 LPI. Setting up a business in Thailand can be quite competitive in these scenarios, where consultancies can offer their insights.

 

The logistics sector of Thailand is dominated by road transport which is about 80% of the total volume of the freight. The most developed mode of transport in Thailand is its roadways. As much as 98% of the highways in the country are paved. If you are to consider the ASEAN highway network, there are 13 highways that connect Thailand with its neighbors, which is the highest for any ASEAN country. At present, the major highways that link Thailand to the other GMS countries are the routes within the East-West Economic Corridor, the Southern Economic Corridor and the North-South Economic Corridor. These corridors make up the backbone of the GMS transportation infrastructure.

 

The major routes that connect Thailand to the other GMS countries include the North-South Economic Corridor, connecting Thailand, Laos, and China, extending over 2000 km, the East-West Economic Corridor, connecting Myanmar, Thailand, Laos, and Vietnam with a total length of 1,320 km and the Southern Economic Corridor, connecting Thailand, Cambodia, and Vietnam, extending 1030 km. The most frequently used corridor used by the cross-border logistics companies in the East-West Economic Corridor, which runs from Mawlamyine Port in Myanmar through central and north-eastern Thailand to the eastern port city of Danang in Vietnam. If you are looking at business opportunities in Thailand, you can use the help of these logistics growth.

 

Such an extensive route allows faster and easier access to the seaport in Vietnam from the regions of Thailand and Laos. This reduces transportation costs as it allows land-sea multimodal transport. Thailand spans about 800 km of the East-West Economic Corridor and more than half of it, is a 4-lane highway and is maintained in very good condition. These conditions are certainly responsible for the tremendous growth of the logistics industry.

 

Opportunities are developing from further Regional Integration

 

Since Thailand is very close to the emerging manufacturing bases in ASEAN, the country is a major source of components, parts and assembly plants that are scattered all over the place. The country exports the most automotive parts among the ASEAN countries. The country has automobile parts, numbering more than 2300 throughout the country. Half the out these suppliers’ offer is exported to the other production bases in south-east Asia. All of these factors combined offer a significant contribution to the development of Thailand as a logistics hub. Getting some positive insight from Startup Consulting firms can prove to be very helpful for businesses.

Thailand is the most developed among the GMS economies. The capital of the country, Bangkok, is one of the key metropolitan cities and a center for commerce in south-east Asia. The city has earned a lot of popularity as a very good sourcing platform for lifestyle products and has attracted a host of international traders that target the regional consumer market. The leading logistics companies have mentioned that a lot of ASEAN and Chinese buyers and exporters prefer to conclude the sourcing deals in Bangkok, especially those from Myanmar, Laos, and Vietnam. The logistics companies can be conveniently appointed to manage the shipments to the markets in the region.

There are increasing chances of subsequent regional integration through the ASEAN Economic Community (AEC) who would create more business opportunities for everyone. The AEC would create a single production base and market in ASEAN. This will allow the free flow of capital, services, goods and skilled labor. There will be tariff cuts too to remove the barriers that exist between the trade routes. Along with the more harmonized and simpler customs procedures, the AEC will boost trade between Thailand and other countries.

Due to the intra-regional trade patterns and industrial development which are becoming more complex, the demand for sophisticated and integrated logistics services is growing. This is especially true for the MNCs who are expanding their reach to the ASEAN markets. Hong Kong logistics companies might find growing opportunities in offering customized supply chain management for exporters and foreign manufacturers who are targeting the ASEAN markets.

 

Trade with neighboring countries continue to flourish

 

There has been an increased level of manufacturing activities. Customer markets in the GMS are also growing, fostering trade between GMS neighbors and Thailand. The border trade of the country with its neighbors contributes highest to its GDP in terms of volume. Malaysia accounts for about half of the border trade with Thailand. The next countries in order are Myanmar at 21%, Laos at 15% and Cambodia at 11%. These cross-border trades have become an important part of the logistics industry of Thailand. There are plenty of companies that are offering acute services in these areas.

The economic liberalization of Laos and Myanmar is expected to continue in the coming years. It is expected that the Thai border trade with these countries will continue to flourish due to these very reasons. There are some companies that are trying to expand the border trades in the north and north-east of Thailand in order to capitalize on the opportunities that arise from the economic integration of Laos and Myanmar. It is a development that will certainly stimulate the cross-border logistics industry. Considering all of these facts, the logistics services in Thailand are booming and having an effect on the ASEAN economy.

 

Thailand will be turned into AEC Logistics Hub

 

There is an undergoing plan to mold the country into a key logistics hub by improving the transportation infrastructure of the country. It will become the key logistics hub of the ASEAN Economic Community when the projects end around 2022. The main goal of this huge project is to develop the logistics services and integrate every transportation platform – air, road, rail, and water, which even stretches beyond the borders of the country. This is because some of the projects form a part of the plan that links the transportation system of the country with that of the neighboring countries.

 

Developing 10 rail routes surrounding Bangkok and the suburbs are being given the highest priority. This should be done at the end of the year. These lines would contribute to the inner-city transportation system and the expansion of the city from the heart of Bangkok to its suburbs. Crowding would be reduced in the central business districts through this effort. As the next part of the investment, the wider transportation system would be improved.

 

The link between Thailand and the neighboring countries through rail would be improved, deploying a double-track system. Investments in this crucial plan would vastly develop the logistics industry. Construction under the project had started in 2015 and it is targeted to be completed in the upcoming 2 years. The double-track routes will help Thailand become the key strategic gateway to the AEC and this will come into effect next year.

 

The infrastructure investment planned for the capital will keep it from being an overcrowded city by keeping residential areas beyond the central business districts and into the suburbs. The listed residential developer would expand the investment in the peripheral provinces of Bangalore. With all these developments underway, Thailand is on its way to becoming the key to the logistics industry for ASEAN. The slow transformation of the country into a thriving economy can be attributed to this factor.

Take a FREE Online Consultation here or get essential tips by downloading this e-Book  on how to Startup in Thailand

Contact the Startup Specialists for doing business in Thailand

 

Few More Interesting Reads : 

The post Thailand Is The Logistic Hub For ASEAN – How True Is That ? appeared first on StartUp in Thailand.

Source: Asian Correspondent

How To Setup An Education Institute In Thailand

Thailand is a lucrative place to start any kind of business. The infrastructure is developed and there is a huge potential for the country to show even more rise in the economy in the coming years. If you are planning to start a business in Thailand then you have a lot of different opportunities which you can give it a try. However, business-related to education can be a real game-changer in Thailand. The country has a high literacy rate with more than 90% of the people literate. Therefore, people are really interested in getting themselves educated under good educational institutions.

So, if you are planning to start a business related to education, then Thailand can be a really prosperous ground to do so. Providing education is a really noble work that you will be engaged in and the Thai government will help you in different ways. However, there are certain plans and regulations which you will need to follow. We have mentioned all the important details that you will need to consider below if you want to set up an educational institution in Thailand.

 

Things To Consider While Setting Up An Educational Center in Thailand

Here are the important details and points that you will need to keep in mind while establishing an educational center in Thailand.

 

Construction of the building

These are the vital information related to the construction of the building.

 

 

Information related to the Licensee

Here is some important information that is related to the Licensee of the educational center.

 

Physical person

If the owner of the educational institution is any physical person, then there are some vital norms that need to be followed. Here are they –

 

Company

However, if the institute is managed and owned by a company, then the norms and requirements are more or less different to some extent. Have a look at them in this segment –

Legal Assistance in Thailand is available for you on demand.

Teachers & Lecturers

You must hire a teacher who has the teacher qualification license and has never been previously canceled or have been prohibited from attributes for a professional teacher under the laws of the Teacher Council and educational personnel.

The age of the lecturer should be at least 18 years old and as knowledge as required by the rules along with friendly and good behavior with everyone. The person must never have been acquitted of any criminal offense or has never served in prison due to any major crime. The lecturer should also have never been fired from any government position previously.

 

Final Words

Running an educational institution in Thailand can be the turning point of your life. Not only will you be able to make a lot of revenue if you can run the institute well, but you will also be able to provide the most important teaching and education to the people who want to educate themselves and ensure that they can achieve their ambitions. Setting up a business in Thailand is not the easiest task as of now but it is not impossible at the same time.

Take a FREE Online Consultation here or get essential tips by downloading this e-Book  on how to Startup in Thailand

Contact the Startup Specialists for doing business in Thailand

More Interesting Reads : 

The post How To Setup An Education Institute In Thailand appeared first on StartUp in Thailand.

Source: Asian Correspondent

Freight Forwarding Business In Thailand

With the face of the world-changing over these recent decades, the number of global shipments continues to increase. One of the most widely used methods of international transport for personal and business use is freight forwarding. There are large freight forwarding companies that coordinate the shipment of goods from one destination to another with the help of a range of carriers. This business is booming in Thailand mostly because of the fact that the country is turning into a business and production hub in recent years. If you are doing business in Thailand you can take advantage of this development.

 

Shipping abroad is complex. Sometimes the investment of building and expanding the logistics team of a company becomes undesirable. This is mostly because the cost is too high. Most companies like to focus on keeping the business running. A freight forwarder is a business that helps to organize the shipments for corporations as well as individuals. They send the goods from the manufacturer to a customer or the final point of distribution. Freight forwarders specialize in lowering costs and facilitates the logistics of transportation. You can take help with this from a startup business consultant too.

These freight forwarders have become pretty common in Thailand due to the market conditions that exist now. They act as an intermediate between the shipper and the final point of distribution. Though the forwarder does not move the freight itself, they arrange the various transportation services, like road transport, ocean shipping, and air transportation. You would need to find more about them if you start a business in Thailand. They use their relationships with carriers – trucking companies, air freighters, and ocean liners to negotiate the best possible price to move the goods along the established trade routes through bids. They choose the most optimized path and reliability.

Freight forwarders take advantage of Thailand’s unique supply chain management as Thailand is emerging as a regional supply chain management hub. This means that the transport business is booming in the country. This is definitely a great place for the freight forwarders to move in and help manufacturers and supply markets to connect to each other. Even overseas companies are finding great opportunities in Thailand. Thailand gains a lot of help due to its wonderful position. It sits in the center of South-East Asia and has become one of the key ASEAN logistics and transport hubs. Business opportunities in Thailand are definitely booming at the moment.

Production costs are surging in China and the other developed ASEAN countries. Foreign manufacturers are looking to set up bases in the countries that have lower production costs, like Vietnam and Myanmar. Many companies are looking for manufacturing bases in South-East Asia. Thailand is offering that opportunity and with the development of production bases, the freight forwarding business in Thailand is becoming more and more prominent. Thus, Thailand is becoming a regional manufacturing powerhouse and fulfilling the role of a key logistics hub. A consulting startup can help you spread your business here.

More than half of the GDP of Thailand is from exports. The manufacturing sector in the country offers more than 80% of the exports from Thailand. Setting up a business in Thailand has proven very profitable for a lot of businessmen and traders, but there is tough competition too. The services include transporting parts, machinery, and components, in addition to the supply chain functions. Even the country is putting in a lot of effort to improve the present transportation system. There is a huge plan in place which is expected to be completed in the coming 2 or 3 years, which will improve the road and railways from its capital, Bangkok to the other areas in the country.

Thailand is the second-largest exporter in the ASEAN Region. The exports from Thailand to other ASEAN countries have increased by 12% on an average during 2009-2014. There has been a more rapid growth in exports to the neighboring GMS (Greater Mekong Sub-region) countries. Exports to these countries have increased by about 20% annually. Thailand has become the largest exporter of electronics. It exports mainly computer parts, along with integrated circuits and other related electrical items. Trade and commerce in the country are boosting and it is investing to further straighten out the transportation system.

Many foreign logistics companies like UPS, DHL, and Kerry Logistics have made it into Thailand to take advantage of the emerging opportunities in the country. The political situation of the country has also stabilized. This has improved the prospects of Thailand as a destination for market diversification and market expansion. Thus, situations are improving gradually. The freight forwarders are taking complete advantage of the situation to further improve the scenario for them. Hence, the logistics industry and transportation are growing very rapidly in the country.

Improved  Logistics Infrastructure and good Regional connectivity 

With continual development in the transport infrastructure and the efficiency of the customs, the cost of Logistics in Thailand has come down over the last few years. Thailand was ranked at 32 on the Logistics Performance Index of the World Bank. It ranks second among the ASEAN countries and outperforms most ASEAN peers, like neighboring Malaysia, Laos, Cambodia, and Myanmar. Thailand has shown significant improvement in trade and transport-related infrastructure over the previous years.

The logistics sector of Thailand is dominated by road transport. It accounts for about 80% of the total freight volume. The roadways in Thailand are very developed. About 98% of the highways in Thailand have been paved. There are 13 highways that connect Thailand to its neighboring countries, which is the highest among the ASEAN highway network. At present, the major highways that link Thailand to the other GMS countries are the Southern Economic Corridor, the North-South Economic Corridor, and the East-West Economic Corridor. These corridors are the backbone of the GMS transportation infrastructure.

The route that is most frequently used for the cross-border logistics companies in the East-West Economic Corridor. The network is very highly appreciated as it helps to connect the other countries. The freight forwarders make very intense use of the logistics and transport services in the region to ensure a good point of trade and commerce here. This corridor connects the port city of Danang in the east to that of Mawlamyine in Myanmar in the west. The corridor also passes through north-eastern and central Thailand.

The route allows very fast access to the port cities of Vietnam from Laos and Thailand. This offers freight forwarders with a great way to improve the business and these are the reasons why the business has boomed so much in recent times. With advancements in technology, transportation and logistics in the country have been fine-tuned. The East-West Economic Corridor stretches for about 800 kilometers in Thailand. More than half of this stretch is a 4-lane highway and it has been maintained in very good condition. This is very ideal for every business and can help you too for your business in Thailand.

Opportunities that arise from regional integration

Since Thailand is very close to the emerging manufacturing hotspots in the ASEAN Region, Thailand has become a major source and hub of components and parts. These are supplied for manufacturing in assembly plants situated throughout the place. Thailand is the largest exporter of automotive parts in ASEAN. The country has more than 2300 suppliers of such parts. No doubt the freight forwarding business is so popular in the country. About half of the output that the suppliers generate is shipped to production bases in different countries in South-East Asia.

Thailand is the most developed country among the GMS nations. The capital of the country – Bangkok – is a huge commercial center and a key metropolis in South-East Asia. The city has earned a lot of popularity in terms of lifestyle products. Thus, the market attracts a lot of international traders that target this regional consumer market. The leading logistics companies say that an increasing number of ASEAN and Chinese businesses and exporters – mainly from Laos, Myanmar, and Vietnam prefer the deals to end in Bangkok. This is because it would be very convenient for the freight forwarders to manage shipments to this market.

Also, extensive regional integration by the ASEAN Economic Community or the AEC would ensure a lot of fresh business opportunities. It had been completed a few years ago. The main aim of the AEC is to create a single production base and market in the ASEAN Region. Once this is done, there can be a free flow of capital, services, goods, and skilled labor. Not only this, but there would also even be tariff cuts for Laos, Cambodia, Vietnam, and Myanmar. So, these barriers have already been removed. The freight forwarders use this to their benefit and help manufacturers to connect to suppliers and consumers. Along with simple customs procedures, the AEC would be boosting trade between Thailand and other countries in the association.

With the help of these intra-regional trade patterns and industrial development, the demand for logistics services is increasing too. The freight forwarders in Thailand manage this by connecting with multiple shipping services and helping to ship products at the minimum prices. This helps manufacturers to reach their customers easily, maintaining a good demand and supply chain. The MNCs are expanding their reach to the ASEAN countries. The freight forwarders are doing a great job by providing opportunities in offering customized supply chain management.

The freight forwarders contributors to trade with the neighbors

The high level of manufacturing processes and the ever-increasing customer markets in the region are boosting the trade between Thailand and its neighbors. Border trade is very common in Thailand as the freight forwarders prefer road transport. The well-built road network in Thailand helps to boost the trades. Malaysia is the largest trade partner of Thailand among the border countries and accounts for half of all border trades done by the country. The countries that follow are Myanmar, Laos, and Cambodia. The logistics industry plays a huge role in this trading industry.

As Myanmar and Laos continue to be economically liberated, the border trade of Thailand with these countries is expected to flourish further. The formation of the AEC is helping many distributors and retailers to expand border trades in the north and north-eastern parts of Thailand. This would help the country capitalize on the great economic integration of Myanmar and Laos.

Considering all of this, it can be said easily that the freight forwarding business is competitive but very well-developed in Thailand. There are lots of such companies – both domestic and foreign – that are taking benefit of suitable trading conditions and flourishing production and businesses.

Contact the Startup Specialists for doing business in Thailand

Startup in Thailand  is the only company in Thailand to provide a single-window solution for all business startup and expansion requirements: Startup Consulting | Thailand Market Entry | Legal assistance | Serviced Office | Factory Setup | Representation | Recruitment Services | Accounting | Operations | Buying & Sourcing | Distribution | Sales & Marketing | Regional Business Development | Management

Interesting Reads : 

The post Freight Forwarding Business In Thailand appeared first on StartUp in Thailand.

Source: Asian Correspondent

How Is The Freight Forwarding Business In Thailand ?

With the face of the world-changing over these recent decades, the number of global shipments continues to increase. One of the most widely used methods of international transport for personal and business use is freight forwarding. There are large freight forwarding companies that coordinate the shipment of goods from one destination to another with the help of a range of carriers. This business is booming in Thailand mostly because of the fact that the country is turning into a business and production hub in recent years. If you are doing business in Thailand you can take advantage of this development.

 

Shipping abroad is complex. Sometimes the investment of building and expanding the logistics team of a company becomes undesirable. This is mostly because the cost is too high. Most companies like to focus on keeping the business running. A freight forwarder is a business that helps to organize the shipments for corporations as well as individuals. They send the goods from the manufacturer to a customer or the final point of distribution. Freight forwarders specialize in lowering costs and facilitates the logistics of transportation. You can take help with this from a startup business consultant too.

 

These freight forwarders have become pretty common in Thailand due to the market conditions that exist now. They act as an intermediate between the shipper and the final point of distribution. Though the forwarder does not move the freight itself, they arrange the various transportation services, like road transport, ocean shipping, and air transportation. You would need to find more about them if you start a business in Thailand. They use their relationships with carriers – trucking companies, air freighters, and ocean liners to negotiate the best possible price to move the goods along the established trade routes through bids. They choose the most optimized path and reliability.

 

Freight forwarders take advantage of Thailand’s unique supply chain management as Thailand is emerging as a regional supply chain management hub. This means that the transport business is booming in the country. This is definitely a great place for the freight forwarders to move in and help manufacturers and supply markets to connect to each other. Even overseas companies are finding great opportunities in Thailand. Thailand gains a lot of help due to its wonderful position. It sits in the center of South-East Asia and has become one of the key ASEAN logistics and transport hubs. Business opportunities in Thailand are definitely booming at the moment.

 

Production costs are surging in China and the other developed ASEAN countries. Foreign manufacturers are looking to set up bases in the countries that have lower production costs, like Vietnam and Myanmar. Many companies are looking for manufacturing bases in South-East Asia. Thailand is offering that opportunity and with the development of production bases, the freight forwarding business in Thailand is becoming more and more prominent. Thus, Thailand is becoming a regional manufacturing powerhouse and fulfilling the role of a key logistics hub. A consulting startup can help you spread your business here.

 

More than half of the GDP of Thailand is from exports. The manufacturing sector in the country offers more than 80% of the exports from Thailand. Setting up a business in Thailand has proven very profitable for a lot of businessmen and traders, but there is tough competition too. The services include transporting parts, machinery, and components, in addition to the supply chain functions. Even the country is putting in a lot of effort to improve the present transportation system. There is a huge plan in place which is expected to be completed in the coming 2 or 3 years, which will improve the road and railways from its capital, Bangkok to the other areas in the country.

 

Thailand is the second-largest exporter in the ASEAN Region. The exports from Thailand to other ASEAN countries have increased by 12% on an average during 2009-2014. There has been a more rapid growth in exports to the neighboring GMS (Greater Mekong Sub-region) countries. Exports to these countries have increased by about 20% annually. Thailand has become the largest exporter of electronics. It exports mainly computer parts, along with integrated circuits and other related electrical items. Trade and commerce in the country are boosting and it is investing to further straighten out the transportation system.

 

Many foreign logistics companies like UPS, DHL, and Kerry Logistics have made it into Thailand to take advantage of the emerging opportunities in the country. The political situation of the country has also stabilized. This has improved the prospects of Thailand as a destination for market diversification and market expansion. Thus, situations are improving gradually. The freight forwarders are taking complete advantage of the situation to further improve the scenario for them. Hence, the logistics industry and transportation are growing very rapidly in the country.

Improved  Logistics Infrastructure and good Regional connectivity 

With continual development in the transport infrastructure and the efficiency of the customs, the cost of Logistics in Thailand has come down over the last few years. Costs went down significantly from the 2001-2008 period at a rate of about 16% – 18% of the GDP and at a rate of about 14% -15% for the 2009-2012 period. Thailand ranked at 35 of the 10 countries on the Logistics Performance Index of the World Bank. It ranks third among the ASEAN countries and outperforms most ASEAN peers, like neighboring Laos, Cambodia, and Myanmar. Thailand has shown significant improvement in trade and transport-related infrastructure over the previous years.

 

The logistics sector of Thailand is dominated by road transport. It accounts for about 80% of the total freight volume. The roadways in Thailand are very developed. About 98% of the highways in Thailand have been paved. There are 13 highways that connect Thailand to its neighboring countries, which is the highest among the ASEAN highway network. At present, the major highways that link Thailand to the other GMS countries are the Southern Economic Corridor, the North-South Economic Corridor, and the East-West Economic Corridor. These corridors are the backbone of the GMS transportation infrastructure.

 

The route that is most frequently used for the cross-border logistics companies in the East-West Economic Corridor. The network is very highly appreciated as it helps to connect the other countries. The freight forwarders make very intense use of the logistics and transport services in the region to ensure a good point of trade and commerce here. This corridor connects the port city of Danang in the east to that of Mawlamyine in Myanmar in the west. The corridor also passes through north-eastern and central Thailand.

 

The route allows very fast access to the port cities of Vietnam from Laos and Thailand. This offers freight forwarders with a great way to improve the business and these are the reasons why the business has boomed so much in recent times. With advancements in technology, transportation and logistics in the country have been fine-tuned. The East-West Economic Corridor stretches for about 800 kilometers in Thailand. More than half of this stretch is a 4-lane highway and it has been maintained in very good condition. This is very ideal for every business and can help you too for your business in Thailand.

 

Opportunities that arise from regional integration

Since Thailand is very close to the emerging manufacturing hotspots in the ASEAN Region, Thailand has become a major source and hub of components and parts. These are supplied for manufacturing in assembly plants situated throughout the place. Thailand is the largest exporter of automotive parts in ASEAN. The country has more than 2300 suppliers of such parts. No doubt the freight forwarding business is so popular in the country. About half of the output that the suppliers generate is shipped to production bases in different countries in South-East Asia.

 

Thailand is the most developed country among the GMS nations. The capital of the country – Bangkok – is a huge commercial center and a key metropolis in South-East Asia. The city has earned a lot of popularity in terms of lifestyle products. Thus, the market attracts a lot of international traders that target this regional consumer market. The leading logistics companies say that an increasing number of ASEAN and Chinese businesses and exporters – mainly from Laos, Myanmar, and Vietnam prefer the deals to end in Bangkok. This is because it would be very convenient for the freight forwarders to manage shipments to this market.

 

Also, extensive regional integration by the ASEAN Economic Community or the AEC would ensure a lot of fresh business opportunities. It had been completed a few years ago. The main aim of the AEC is to create a single production base and market in the ASEAN Region. Once this is done, there can be a free flow of capital, services, goods, and skilled labor. Not only this, but there would also even be tariff cuts for Laos, Cambodia, Vietnam, and Myanmar. So, these barriers have already been removed. The freight forwarders use this to their benefit and help manufacturers to connect to suppliers and consumers. Along with simple customs procedures, the AEC would be boosting trade between Thailand and other countries in the association.

 

With the help of these intra-regional trade patterns and industrial development, the demand for logistics services is increasing too. The freight forwarders in Thailand manage this by connecting with multiple shipping services and helping to ship products at the minimum prices. This helps manufacturers to reach their customers easily, maintaining a good demand and supply chain. The MNCs are expanding their reach to the ASEAN countries. The freight forwarders are doing a great job by providing opportunities in offering customized supply chain management.

 

The freight forwarders contributors to trade with the neighbors

The high level of manufacturing processes and the ever-increasing customer markets in the region are boosting the trade between Thailand and its neighbors. Border trade is very common in Thailand as the freight forwarders prefer road transport. The well-built road network in Thailand helps to boost the trades. Malaysia is the largest trade partner of Thailand among the border countries and accounts for half of all border trades done by the country. The countries that follow are Myanmar, Laos, and Cambodia. The logistics industry plays a huge role in this trading industry.

 

As Myanmar and Laos continue to be economically liberated, the border trade of Thailand with these countries is expected to flourish further. The formation of the AEC is helping many distributors and retailers to expand border trades in the north and north-eastern parts of Thailand. This would help the country capitalize on the great economic integration of Myanmar and Laos.

 

Considering all of this, it can be said easily that the freight forwarding business is competitive but very well-developed in Thailand. There are lots of such companies – both domestic and foreign – that are taking benefit of suitable trading conditions and flourishing production and businesses.

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Source: Asian Correspondent