True Digital Park joins forces with the BOI to accelerate the attraction of foreign investors, aiming to double Foreign Direct Investment (FDI) in 2025. The partnership highlights the strengths of a complete startup ecosystem, offering a One-Stop Service to streamline processes, and features perspectives from international embassies, underscoring Thailand’s potential despite currently lagging in FDI within ASEAN.
Bangkok, Thailand – Thailand is facing a significant challenge in attracting Foreign Direct Investment (FDI), with a recent ASEANstats report revealing that Thailand ranks 6th out of 10 ASEAN countries in terms of FDI value, and its growth rate continues to decline. In 2024, Thailand’s FDI amounted to approximately US$4.5 billion, down from US$11.2 billion in 2023, amid intense competition in the ASEAN region.
To address this situation, True Digital Park (TDPK), the largest tech and startup hub in Southeast Asia, has announced a collaboration with the Board of Investment (BOI) to drive Thailand’s mission to become a destination for international businesspeople, investors, and startups. The goal is to double the value of FDI in Thailand by 2025.
TDPK International Service Center: A Gateway to Business Opportunities in Thailand
The core of this effort is the TDPK International Service Center, a one-stop service designed to facilitate foreign nationals who wish to invest, do business, or reside long-term in Thailand. The center’s services cover every step, from legal consultation, various visa applications (including Long-Term Resident Visa – LTR Visa, Thailand Privilege Card, SMART Visa, and Destination Thailand Visa – DTV), company registration, business networking, office rental, to connecting with lifestyle services such as fitness centers, spas, restaurants, and international schools.
Dr. Tarit Nimmanwudipong, General Manager of True Digital Park, stated, “True Digital Park has been collaborating with the BOI for over 6 years to jointly build a strong network of partners to attract foreign nationals to invest and do business in Thailand.”
Under this partnership, TDPK has been appointed by the BOI as a Certified Agent, authorized to assist foreign nationals in applying for LTR Visas and provide support services for entering the Thai market.
A Comprehensive Startup Ecosystem: TDPK’s Strength
What sets TDPK apart from other service centers is its integration into a complete startup ecosystem, comprising global tech companies, leading private organizations, educational institutions, government agencies, and emerging tech entrepreneurs and startups across various business sectors. This strong network of over 5,800 partners enables TDPK to connect foreign investors with diverse business opportunities and reduce the complexities of starting a business in Thailand.
“True Digital Park’s robust and comprehensive ecosystem can effectively address and mitigate the obstacles to doing business and residing in the country,” Dr. Tarit emphasized.
“Thailand Fast Track”: Building Investor Confidence
In addition to the services of the TDPK International Service Center, True Digital Park also organized the “Thailand Fast Track” event to build a collaborative network with international partners and reinforce confidence in Thailand’s investment promotion policies. The event featured representatives from several embassies who shared their perspectives on doing business and investing in Thailand.
The event included a panel discussion on “Global Perspectives on Doing Business and Investing in Thailand,” featuring representatives from the embassies of Japan, the United Kingdom, and Luxembourg:
- Mr. Kajiwara Toru: Minister and Chief of the Economic Section, Embassy of Japan
- Mr. Zak Lawton: First Secretary Technology & Head of Investment, Embassy of the United Kingdom
- Mr. Eric Lauer: Trade and Investment Advisor, Embassy of Luxembourg
This panel discussion reflected the international interest in investing in Thailand. Although Thailand faces challenges in competing with neighboring countries, it still possesses attractive strengths, such as a lower cost of living compared to Singapore and an appealing lifestyle.
Challenges and Opportunities Ahead
Dr. Tarit acknowledged that Thailand still faces challenges in creating clarity and ease of understanding in various processes for foreign nationals wishing to do business or invest.
“The presence of multiple Visa Agencies and various channels can lead to confusion and uncertainty,” Dr. Tarit said.
However, Dr. Tarit is confident that the TDPK International Service Center can help address these issues by consolidating information and services in one place, making it easy for foreign nationals to access the information and services they need.
“We are trying to reach the international community…The problem now is that if you want to make it, information, it needs to be international. It can not be just about making sweets and worrying about unfair competition. When you invite me and I come, it needs to be serious,” Dr. Tarit said on the importance of international collaboration.
An Ambitious Goal: Doubling FDI
True Digital Park has set an ambitious goal of doubling the number of foreign investors and businesspeople entering Thailand through the TDPK International Service Center in 2025.
“We are committed to attracting foreign investors and businesspeople to Thailand through the TDPK International Service Center, doubling the number in 2025, by focusing on providing comprehensive and high-quality services, along with creating an ecosystem conducive to business growth and innovation,” Dr. Tarit concluded.
The efforts of True Digital Park and the BOI represent a significant step in driving Thailand’s economy to grow sustainably amid fierce competition in the ASEAN region. Attracting foreign investment not only creates jobs and increases national income but also brings in technology, knowledge, and new innovations, which will help enhance Thailand’s competitiveness in the long run.
#TrueDigitalPark #BOI #FDI #ForeignInvestment #Startups #DigitalEconomy #ThailandFastTrack #TDPKInternationalServiceCenter #LongTermResidentVisa #LTRVisa #ASEAN #Investment #Thailand #Visa #IndustrialEstate #WHA #Economy #EconomicNews
