As we explain how SUPA International in Thailand, acted as a driving force behind many clothing brands shifting to Thailand, it is imperative to consider the context. A study conducted by a Japanese research organization more than 10 years ago clearly indicated that the best location for establishing a production or sales base within the next decade was without a doubt Thailand. This was even before China became problematic, as is the case now. Today it is very easy to find reasons why Thailand is a sensible choice for any investor seeking a lucrative market with an excellent return on investment. In the first place, the education system in Thailand is of a high standard. Most people in the country are cooperative and extremely friendly. As far as healthcare is concerned, the workforce is benefits from an ever-improving system. Thailand is also doing a satisfactory job at keeping their workforce more productive. Research has also shown that of all the countries in Asia Thailand has the best sustainable growth – they weathered the previous recession rather well. It is therefore not surprising that Thailand is now receiving a lot of attention from a wide variety of foreign investors.
A respected, leading nation in Asia with so much appeal:
Thailand has established itself as a strong economic leader as can be seen by the fact that it has one of the fastest-growing economies in the entire Asian region. Some Internet research will quickly point out the fact that travelers find Thailand one of the cheapest locations in the region. Thailand has always enjoyed very strong business relationships with China. Expats who do business in Thailand also love living in the country as there is so much to do.
As many business people know the country has an excellent infrastructure and for those companies who are looking for warehousing in order to store their products, they certainly find Thailand to be the perfect place to do just that. For an incoming manufacturing company who will require housing for their employees, housing in Thailand is considerably cheaper than many other countries. Not only is it possible to purchase the property but there are also excellent rental prospects. In recent years there has been a lot of government spending in an attempt to attract larger numbers of tourists – boosting the quality of accommodation.
The tax benefits in Thailand
For private investors there is no capital gains tax and ongoing taxes are also low compared to other countries. This is great when business assets increase in value – and make it worth spending several years there. Remember that besides making a profit on any activities, the sheer increase in valuation of property values (according to the Starbucks and Mc Donalds investment philosophies) – certainly applies to any business investing in Asia. Thailand has a very favorable policy towards foreigners who are always welcomed by the government because of the possibility of foreign investment.
One of the strongest points in favor of Thailand as a manufacturing choice is the fact that it is perfectly located and is basically lying in the center of Asia – in a region which is widely considered to be one of the fastest growing economic markets on the planet. The country is known to many people in the region as the gateway to Southeast Asia and also to the Mekong sub-region where there are many emerging markets which is providing investors with lucrative opportunities. Several countries are within easy reach of Thailand such as India and China.
This reputable textile manufacturer has been one of the leading companies in Thailand for many years where it has been benefiting from the infrastructure and the economy. But it is give and take as SUPA convinced so many brands that Thailand is key to their future strategy, thereby contributing to the Thai economy.
SUPA International has also helped many other manufacturing companies to establish themselves in Thailand. The company has been based in Thailand since 2001 and from the start, the primary mission was to establish a manufacturing base which would be utilizing the latest technology in order to provide a superior product to the consumer and yet at a most competitive price. One of the primary strategies of this company has always been to ensure that it understands the needs of the customer. This is why good, transparent communication between the company and customers has always been encouraged by the leadership. It is also the reason why everyone on the management team is able to speak English fluently, as it is essential in order to better accommodate those markets. This company has gained a tremendous amount of experience which has not only helped the company to expand and to provide high-quality clothing but they have also used the expertise to provide the companies with quality advice – so that they also could become established in and around Bangkok. The evolution of SUPA international to date, enable them to pass on competitive advantage to any clothing brand they get involved with. (Read more about the company here)
A force to be reckoned with
SUPA international now reached the point where they are producing more than 200,000 clothing items every month. These products are exported all across the globe and also to the consumer base in the US, UK, Europe, Canada, and Australia. Most of the customers buying from the company are fashion brands but SUPA international has also worked with corporate clients that were looking for work wear for their employees. Most of these items were polo shirts, sweatshirts and a wide variety of customized T-shirts. SUPA international always endeavor to deliver a high-quality product and they also maintain their policy of providing those products at the most competitive price possible. This is exactly why SUPA international is in a unique position to assist other manufacturing companies who are looking into the possibility of moving their manufacturing base into Thailand. They are intimately knowledgeable about the local conditions, the currency, the culture the financial systems and many other things which are essential for prospective investors to know about.
Political and social stability
Most of the people in Thailand belong to the Buddhist religion and therefore they are peaceful people always ready to welcome the stranger. The country has always been committed to allow democratic processes to thrive. That, combined with the peace-loving nature of the people of Thailand, as well as the deep respect for the monarchy of that country, makes this country an excellent location to establish a manufacturing base. Even though Buddhism is the primary religion, there is complete tolerance for other religions and his Majesty the King has made his position very clear on this matter. There are many government agencies which will go out of their way to support investors and they even have a board of investment where the government offers a variety of tax incentives and other support services. This can really help to attract and retail foreign investors. For those manufacturing companies that are dealing with things which are considered priority products there are import duty concessions available. There are absolutely no foreign equity restrictions as far as the manufacturing sector is concerned and in fact, everything is done in compliance with WTO regulations.
Companies like SUPA international are making history in Asia. As the world’s most competitive and prosperous region, Asia is attractive for many reasons. Thailand, it seems, will only gain in popularity and competitiveness in years to come.