The strong growth potential of emerging economies, such as those within the Association of Southeast Asian Nations (ASEAN), continues to attract attention from global businesses.
As automotive manufacturers around the world continue to grapple with stagnating or declining sales in their traditional markets, a strong strategy for geographic diversification becomes increasingly urgent.
Thailand continues to be the dominant hub within South East Asia, with the best automotive supply and logistics chain as well as impressive production figures for domestic and export markets. Whilst the industry has suffered significantly in recent years, the underlying trend suggests that the industry is close to being back on a growth path. As with other markets, Thailand is moving towards eco-cars and SUVs, but the country’s industry is still dominated by one-ton pick-up trucks.
Thailand is expecting to be the leader. Over the past 3 years, medical device companies in Thailand performed well from both revenue and net profit perspective. Thailand is expecting to be the leader of Healthcare and medical device market in ASEAN.
Thailand has an ambitious plan to be the “kitchen of the world” and thereby secure its future as one of the most important food exporters globally. The country has a market leading position in areas such as rice and sugar cane.
