Monthly Archives - January 2017

Thailand: The World’s New Medical Destination, for Services and Investment

The economy of Thailand boasts a thriving, robust medical industry that both leads Southeast Asia and is renowned across the world.  From the world’s leading medical tourism sector to growing sectors in pharmaceuticals, medical devices and implants, and academic research, the Thai medical sector presents a wealth of opportunities, for Thai and foreign patients, as well as entrepreneurs and investors looking for global growth opportunities in the medical field. Relative to its Asian neighbours and compared to global leaders, Thailand [...]

On 2017 and 2018 Public Tenders of Transmission Lines in South of Thailand

On May 2015, The National Energy Policy Committee approved the Power Development Plan for 2015 to 2036 introducing significant changes in different aspects such as on national economy with a less impact on people cost of living, energy security with less dependent on natural gas, environment releasing 37% less carbon monoxide (low carbon society in 2050) and on regional integration with more solid commitment with Asean region. The energy consumption is increasing fast in the South of Thailand but the [...]

Electronics and Electrical Appliances:  The State of Thai Industry

Thailand has long been accelerating into the pack of world leaders in high-technology industries.  Although world leaders like Japan and South Korea currently enjoy advantages in the tech sector, their growth has created space for other countries to move ahead, and Thailand has been pivoting to take advantage of this opportunity.  Being able to provide a highly skilled workforce at a competitive price level, and further occupying a strategic location for global imports and exports, Thailand enjoys several fundamental [...]

VC and Thai Corporations: Navigating Local Law

As the venture capital (VC) market continues to grow, Thai start-ups are a natural focus for VC firms interested in Southeast Asian investment. Start-ups making use of new technology have a need for initial capital, are interested in disrupting existing markets, and offer potentially large equity returns on investment – a perfect asset for the investment portfolio of many VCs, which have the available capital to seed new ventures and bet on the next new thing, rather than financing [...]

Check Legal Issues First for Thai Cash Pooling Option

Since the global economic downturn, cash pooling has become an increasingly relevant option for multinational corporations (MNCs) as a cash management technique. In general, cash pooling is used when MNCs wish to reduce their external financing needs and allow one company, a “corporate treasury centre”, to manage inter-group financing. As each group company normally has its own accounts, these separate accounts are “pooled” together and managed as one net account, allowing group companies to operate under a single financial policy. [...]

Jose Herrera Joins Silk Legal

Silk Legal is pleased to announce that Jose Herrera has joined the firm as a partner. Jose brings with him a wealth of international legal experience from practice in Thailand, South East Asia, East Europe and Spain. His practice concentrates on Foreign Direct Investment in the automotive, infrastructures and energy sectors.

Challenges and Regulatory Trends for the Automotive Sector in Thailand

Although the vast majority of global cars manufacturers have already a corporate presence in the Kingdom of Thailand, the three largest manufacturers originally come from Japan: Toyota, Isuzu and Honda. The automobile industry in Thailand as a whole account for 12% o GDP and employ more than 550,000 workers. Due to the economic importance of the automotive sector, Thailand enforces Tax and Non-Tax Incentives under the Board of Investment (“BOI”) scheme as seen in Section 4: Metal products, machinery and [...]

2017 Thailand FinTech Predictions

2017 is positioned to be an exciting year for the development of Fintech in Thailand.  Over the past year, we have seen several key indicators that lead us to believe that a FinTech revolution will start this year. We have identified six areas to watch closely: Thailand 4.0 – The Thai government has placed substantial resources in developing Thailand into a digital economy.  Creativity and Innovation in this digital economy is the main drivers of this initiative.  We predict that [...]

Doing Business in Thailand

As global business continues to grow, mature, and evolve, increasing numbers of international businesses and entrepreneurs enjoy the option of pursuing their business from an international location.  This opportunity can also be expressed as a challenge:  With such a wide variety of potential overseas locations, growing firms need to choose one that provides the best possible fit for the optimal chance at succeeding in an increasingly competitive marketplace. Thailand’s national Board of Investment (BOI) has collected a host of useful [...]

Bank of Thailand Public Hearing on Guidance to Participate the Regulatory Sandbox

Thailand’s FinTech regulation is evolving and 2017 will be an exception year for financial innovation within Thailand.  The Bank of Thailand (“BOT”) has published consultation papers on how the proposed regulatory regime using a “Sandbox” approach will function.  This regulatory sandbox will allow FinTech firms and financial instructions the ability to test their products in a system that will allow real world trials, while providing consumer protection. Silk Legal is pleased to provide an unofficial English translation of the most [...]