Thailand Offers Investors Comprehensive Services at One Location
Thailand’s investment promotion regime has long been among the most successful in Asia, due to consistent government policies that are committed to the private sector as the engine of growth, while government plays a supporting role.
To support private sector investment, the government regularly meets with investors to identify ways to improve the investment environment for all investors.
When the government of Abhisit Vejjajiva took office in January 2009, one of the urgent tasks it set was to enhance investor confidence. To accomplish this, his administration has made it a priority to address issues concerning investors. One of the issues raised by investors in a series of consultative meetings was how to facilitate investors in dealing with multiple agencies spread all across Bangkok.
To resolve this matter, the prime minister announced plans to establish a true one-stop service center for investors. On November 23, 2009, the One Start One Stop Investment Center, or OSOS, as it is now known, will be opened for business. The OSOS, which operates as part of the Board of Investment, consolidates staff from numerous investment-related agencies at a permanent location on the 18th Floor of the Chamchuri Square Building on Rama 4/Phayathai Road in Bangkok’s Central Business District.
For businessmen — Thai or foreign; big or small; BOI-promoted or not — interested in investing in Thailand, the One Start One Stop Investment Center offers investors a wide range of investment-related services.
To begin with, OSOS staff will help investors with various applications to make sure investors understand what is needed to register a company obtain investment promotion privileges, obtain a foreign business license, complete an environmental impact assessment, request permission to use land for industrial operations, obtain utilities, and etc.
In addition to assisting investors with procedural matters, staff from numerous agencies will be on hand to consult with investors on a range of topics. What this means is that if an investor has a question that requires an interpretation from more than one agency, rather than having to go from office to office in search of answers, the matter can be addressed by the various experts at the OSOS.
In addition, the highly successful One-Stop Service Center for Visas and Work Permits will move to the same location as OSOS on January 4, 2010.
Thailand has long understood that offering investors an attractive package of fiscal incentives is not enough. To remain attractive in the increasingly competitive investment landscape, it is necessary to provide investors with services, before, during and after an application is submitted. The establishment of the OSOS is the latest step that Thailand is taking to create an enabling environment for investors.