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Build Your Success Today and For the Future
You need confidence the region you’re expanding into has a bright future - Southeast Asia will remain an economic hotspot for years to come. Here are three reasons why:
A Growing Middle Class
Population in the Association of Southeast Asian Nations (ASEAN) is rapidly urbanizing, the middle class is growing, and demand is off the charts. Since the population here is younger than in the US and Europe, these new consumers will remain an opportunity for years to come.
A Vibrant Online Economy
Southeast Asia is at the forefront of digitalization, with Thailand and Vietnam leading the way. Internet speeds and e-commerce stats here top global rankings**:
Thailand
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Over 77.8% of the population in Thailand are internet users.
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The country ranks #1 globally for online shopping.
Vietnam
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1% of the population uses the internet.
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Internet speeds have risen 17.2% in the past year alone, and are currently at 80.27 Mbps.
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Mobile connections number 161.6 million - Over x1.5 the total population!
** - Stats sourced from Hootsuite 2022, Ookla Speedtest 2023 and local telecom data.
Open for Business
Thailand and Vietnam have 15 free trade agreements in effect to support local business collaboration.
The ASEAN Trade in Goods Agreement (ATIGA) signed in 2009 has led to an elimination of nearly 99% of tariffs between the participating countries to facilitate even more trade and growth in the region.
Finally, the cherry on the cake is the Regional Comprehensive Economic Partnership (RCEP)* - This agreement between ASEAN, South Korea, China, Japan, Australia and New Zealand, is the world’s largest free trade zone:
- Covers 2.3 billion people - 30% of global population.
- $25.8 trillion in global GDP.
- Facilitates trade valued over USD12.7 trillion.
Infrastructure for the Future
Thailand
The Eastern Economic Corridor (EEC) development plan is reshaping over 13,000 square kilometers in three provinces, with the goal of turning them into a national economic powerhouse. It includes major developments such as:
- The U-Tapao Airport
- Seaports of Map Ta Phut and Laem Chabang
- Advanced rail networks.
All together this program encompasses more than 77 infrastructure projects. with a total committed investment of USD 9 billion from public and private investors.
Vietnam
In April 2021 the Vietnamese Transport Ministry unveiled its 2030 transportation goals blueprint, budgeted at over USD 65 billion:
- Construction plans for over 5,000 kilometers of expressways.
- A state-of-the-art deep water port in Hai Phong.
- High-speed rail lines along major routes.
- The completion of Ho Chi Minh City’s Long Thanh International Airport.
Clearly, Southeast Asia is on the move, and the future looks promising.
Automotive Manufacturing & E-Mobility
Thailand has been a global automotive manufacturing hub for decades - As Southeast Asia's top, and the world's 9th biggest car producer, Thailand produced 1.88 million cars in 2022.The country ranked 5th globally in motorcycle production with 2.01 million units. Additional stats are:
- 16 car and 7 motorcycle manufacturers.
- 9 EV car and 3 EV motorcycle assemblers.
- A vast network of suppliers: 690 Tier 1 and 1,700 Tier 2 & 3 suppliers.
Plans for the future are even more ambitious:
- Production targets of 1.9 million cars for 2023.
- Tax perks for EV makers and buying subsidies for consumers.
- 30% of locally made vehicles to be zero-emission by 2030.
Drop us a line today to find out how you can tap into the potential of Thailand’s booming automotive sector.
E&E - Electrical and Electronics
Thailand's electrical and electronics (E&E) sector is buzzing with growth and opportunity thanks to government incentives that include up to 8-13 years of tax breaks, as well as support for midstream and downstream manufacturers. Industry stats to consider are:
- 2022’s E&E exports surpassed US$45 billion in value.
- By June 2023 sector exports rose 3.93% over the previous year.
- Integrated circuits top electronics production volume with +3.15 billion pieces.
Reach out to us now to discover how your business can benefit from this sector's expansion.
In Sanskrit, ‘Amata’ means ‘Eternity’
“...AMATA is committed to growing commerce and economies in Thailand, Vietnam, Myanmar and Laos, while preserving the harmonious existence between industry and surrounding communities. Based on rigorous social and environmental responsibilities – under the ALL WIN philosophy – we are driven by a sustainable management approach, true to the spirit of the ‘Smart City’, embracing global changes and facing the challenges of the future..."
Vikrom Kromadit, Chairman
Data Centers
With 32 operational colocation data centers 7 more planned, and enhanced connections with China, Japan, Singapore, and Taiwan,
Thailand is well positioned to become the region’s primary data center hub.
Government policies and social changes such as digital transformation, remote work, adoption of 5G services. and cloud solutions, and a variety of tax breaks and incentives, are hastening the process. According to the 3rd edition of the Thailand Data Center Market by 2028 Thailand’s data center market should have:
- A value of USD 764 million.
- A capacity of 56MW.
With its purpose built Data Center parks strategically situated within the Eastern Economic Corridor (EEC) and near the Sriracha and Rayong undersea cable stations, AMATA is already the destination of choice for industry leaders such as ST Telemedia Global Data Centers, TCC Technology Group, CAT Telecom, Symphony Communication, NTT, and many more.
Reach out to us today for more data on harnessing the potential of this high-growth sector.
Healthcare & Pharma
With its expertise, infrastructure, and continued development, Thailand is already a dominant player in Asia, and runs 9% of the global healthcare market. Key strengths are:
- The highest number of private hospitals in Asia.
- Early adoption of Joint Commission International accreditation.
- Top-notch healthcare and modern technology at competitive prices.
The country’s ambitions don’t stop there. and the government is implementing strategies such as one-year medical visas in order to become a global healthcare and medical hub and set the gold standards for the sector.
Contact us today to learn how your company can capitalize on the growth in the healthcare sector