Essay about Research in Thailand

Submitted By jsmith261
Words: 1738
Pages: 7

November 25, 2012
BUSA 3000

The country of Thailand continues to flourish economically with the extensive positives the country possesses within their economy. The country lies within the heart of Asia, which is currently the largest growing market within the world. The country also offers convenient trade with China, India and the countries of the Association of Southeast Asian Nations, and easy access into the Greater Mekong sub-region, where newly emerging markets offer great business potential, (CIA, 2012). Additionally, Thailand has gained a well-deserved reputation throughout the world for its gracious hospitality. The friendliness of its people and the diverse nature of Thai culture make those who do business with the country feel secure and at home in Thailand.
By expanding to Thailand utilizing Foreign Direct Investment, the United States would greatly benefit economically. Additionally, by receiving Foreign Direct Investment from the United States, Thailand will also benefit greatly economically. Thailand can build and capitalize on their already great economy if they continue to promote the ideals that have already allowed them to progress their economy to the level that it is currently. With a government that promotes great foreign direct investment initiatives, Thailand should increase the amount of Foreign Direct Investment within the country, especially from the United States. Additionally, Thailand should continue to promote exportation from the United States because of the strong effect it has on the country. Lastly, with bettering a vast infrastructure that the country encompasses, it could help propel the country’s economy to new heights. With all of these measures taken, Thailand can eventually emerge as one of the most economically powerful countries not only in Asia but the entire world. This is why the United States, as well as the country of Thailand would greatly benefit if the United States expanded to Thailand
The Foreign Direct Investment to Thailand has allowed the country’s economy to remain within a formidable position along the top economically prosperous countries within Asia. If the United States were to allow a multitude of Foreign Direct Investment into the Thailand economy, both economies would grow extensively. Much of the FDI that occurs within the country is due to the policies that the Thailand government has held in place, which has allowed the FDI within the country to be very profitable. Thailand’s Board of Investment states, “The country's well-defined investment policies focus on liberalization and encourage free trade. Foreign investments, especially those that contribute to the development of skills, technology and innovation are actively promoted by the government,” (BOI of Thailand, 2012). Looking at the history of FDI within Thailand, one can see that the country has always profited from FDI.
In a report from the Broker Group, they note how not only FDI to Thailand has allowed the country’s economy to grow extensively, but other countries have benefitted as well. Specifically the report states, “FDI inflows into Thailand increased substantially in the second half of the 1980s after the Plaza Accord, which resulted in currency appreciation in Japan and NIEs such as Taiwan, Hong Kong and Korea,” (Brimble, 2002). The report continues to note that the FDI to Thailand has significantly grown the Thai economy over time and been a great asset to the countries that have chosen to give the FDI to Thailand. What’s significant about FDI is that it has directly affected the people of Thailand in a direct manner making life in Thailand a lot easier.
For example the report states, “FDI has made important contributions to the Thai economy beyond by simply generating new employment. It saved many jobs during the (economic) crisis by helping to capitalize failing local industries,”(Brimble, 2002). Additionally the report states, “Other benefits include bringing in new