Doing Business in Thailand :: GCSE Business Marketing Coursework

Doing Business in ThailandThailands thriving economy has encouraged me to lead astray a new business birth with a highly recognized Thai company. I manufacturer a line of products for the sugar processing industry. I recently signed a one-year contract with Thai Chemiclas and Engineering Co. Ltd., located in Bangkok, to be my exclusive representative in the Thailand ara. Thai Chemicals and Engineering will elicit my product line and get it into the all the sugar mills in the area. They will purchase two containers per month for which we have negotiated a congenial price. The containers will be shipping out of Savannah, Georgia with a final destination of the port of Bangkok. The shipping terms will be CIF Bangkok. I decided to use a local company to represent my product line for various reasons. First of all, I need someone that knows the culture and business environment who has an established relationship with other locals. Once my products die known, I would l ike to establish a factory in Thailand. Therefore, I found it necessary to gather all the information required to begin a new business in Thailand. Establishing Business or a FactoryAlthough business can be 100 % owned by foreign investors, some are reserved for 51 % Thai ownership. battalion of any nationalities can participate in ownership to varying degrees finished sole ownership, a modified company /corporation, an ordinary partnership, a limited partnership, or a branch of a foreign corporation. The Ministry of Commerces Department of commercialised Registration is directly in charge of company registration. The Stock exchange of ThailandThe Stock Exchange of Thailand (SET) is a well-developed financial institution which welcomes foreign investment.tax incomeCorporate income tax rate is 30%TransportBangkoks modern get into Muang International Airport can easily serve your arrivals or connections. Thailand is outfit with an extensive and ever-developing transpo rt infrastructure and an extensive state-run rail system. There are numerous shipping ports including Bangkoks Klong Toey Port and the Eastern Seaboards Mab Ta Phut and Laem Chabang deep-sea ports indoors 200 kilometres of Bangkok. Working HoursTypical business hours are for banks and financial institutions, Monday - Friday 930 a.m. - 330 p.m. Government offices, Monday -Friday 830 a.m. - 430 p.m. (closed noon - 1 p.m.) private business, Monday - Friday from 830 p.