Foreword

This OECD Investment Policy Review of Thailand uses the OECD Policy Framework for Investment to present an assessment of the investment climate in Thailand and to discuss reform opportunities that support Thailand’s development ambitions and contribute to the Sustainable Development Goals (SDGs). After describing Thailand’s development path and future development strategies, the Review provides a snapshot on Thailand’s competitive edge to identify where challenges may lie and policy efforts are needed. It further studies trends and qualities of FDI and discusses how investment contributes to Thailand’s inclusive and sustainable development. The Review examines a broad range of policy areas including investment promotion and facilitation, the domestic and international legal framework for investment, policies to promote and enable responsible business conduct and green growth, and efforts to promote outward foreign direct investment. While the global COVID-19 crisis could slow the speed of progress towards Thailand’s ambitions, policy recommendations provided in this Review should be considered as possible investment climate reform priorities for an inclusive and sustainable recovery.

The Review was prepared in close collaboration with the Ministry of Foreign Affairs of the Kingdom of Thailand (MFA), in consultation with an inter-ministerial taskforce created for the Review. The Review has also benefited from consultations with OECD Investment Committee Delegates, representatives from OECD country embassies in Thailand as well as stakeholders from international organisations, the private sector, civil society and academia. The Review is implemented as part of the OECD-Thailand Country Programme.

The Review was prepared by Martin Wermelinger, Fares Al Hussami, Alessandra Celani, Fernando Mistura, Letizia Montinari, and Baxter Roberts from the Investment Division, and Naeeda Crishna Morgado, external consultant, under the overall guidance of Stephen Thomsen, Head of Investment Policy Reviews. The RBC chapter was authored by Tihana Bule from the OECD Centre for Responsible Business Conduct as part of the broader project on Responsible Supply Chains in Asia funded by the European Union. Silvia Appelt from the Directorate for Science, Technology and Innovation provided substantive inputs. Edward Smiley helped prepare the report for publication. Angèle N’Zinga provided administrative assistance. Secretariat comments were received from Ana Novik, Head of Investment Division, David Gaukrodger, Senior Legal Advisor, and Alexander Böhmer, Malory Greene, and Tiyarat Niamkohphet-Cader of OECD Global Relations.

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