Category: Nachrichten

As President-Elect Trump prepares to resume office, global trade dynamics continue to evolve and businesses worldwide are seeking ways to adapt and thrive. The United States tariffs on Chinese goods continue to affect supply chains, presenting both challenges and opportunities for businesses. For Chinese businesses and investors, these shifting landscapes present both challenges and opportunities. Thailand has emerged as a strategic and attractive destination for foreign direct investment (FDI), offering advantages such as proximity, robust infrastructure, and a supportive economic environment.

The enduring U.S. tariffs on Chinese goods have underscored the need for businesses to diversify their supply chains and reduce costs. Many Chinese manufacturers, especially those with export markets in the United States and Europe, are reconfiguring operations and exploring new production bases. Thailand, with its established industrial ecosystem and favorable policies, stands out as a key choice for such strategic realignment.

In addition to its logistical and economic advantages, Thailand’s Free Trade Agreement (FTA) with China further strengthens its appeal. This agreement facilitates reduced tariffs and streamlined trade between the two nations, enabling Chinese businesses to integrate seamlessly into the Thai economy while enhancing their competitiveness in global markets.

Thailand’s Competitive Advantage for Chinese Investors

Thailand offers a range of compelling benefits for Chinese businesses seeking to expand or relocate operations.

Key factors include:

•Robust Industrial Infrastructure: Thailand is home to a well-established industrial sector, including specialized zones like the Eastern Economic Corridor (EEC), which supports high-tech industries such as electric vehicles, electronics, and renewable energy.

•Government Incentives: Thailand’s Board of Investment (BOI) offers attractive investment packages, including tax exemptions, streamlined permits, and access to critical resources. In 2022, the BOI reported a 42% year-on-year surge in investment applications, reaching a decade- high of $21.7 billion—a testament to the country’s growing appeal.

•Strategic Location: Located in the heart of ASEAN, Thailand offers easy access to regional markets and serves as a gateway to the broader Southeast Asian economy.

•China-Thailand Free Trade Agreement: The FTA between the two countries facilitates preferential trade terms, enhancing market access and reducing costs for Chinese businesses operating in Thailand.

The Eastern Economic Corridor: A Hub for High-Tech Investment

The EEC, covering the provinces of Rayong, Chon Buri, and Chachoengsao, has become a focal point for high-tech industries and foreign investment. Chinese enterprises, in particular, have shown growing interest in this area, leveraging its cutting-edge facilities and proximity to ports and global markets.

The EEC’s emphasis on industries like electric vehicles, robotics, and biotechnology aligns well with the goals of Chinese companies looking to expand into high-value sectors. Compared to other regional destinations, Thailand also boasts a skilled workforce, reliable energy infrastructure, and comprehensive government support—key factors for long-term success.

Partnering for Success in Thailand

Thailand’s strategic advantages, combined with the economic collaboration fostered by the China- Thailand FTA, make it a prime destination for Chinese investors navigating today’s global challenges.

Blumenthal Richter & Sumet’s China Desk specializes in guiding Chinese businesses through the complexities of investing in Thailand. From securing BOI incentives to ensuring full regulatory compliance, our team of experienced Thai and Chinese lawyers provides tailored turn-key support for establishing and expanding operations in the country.

By leveraging Thailand’s unique position in the global economy and the expertise of a trusted legal partner, Chinese investors can position themselves for sustained growth and success in a dynamic global economy.

Chinese automakers have disrupted Japan’s dominance of the Thai automotive market by introducing affordable electric vehicles, which cater to a growing demand for EVs in Thailand. Brands like BYD, Great Wall Motor, and SAIC Motor Corporation have made significant advances, offering fully electric models at competitive prices.

At the recent 2nd China New Energy Vehicle Industry Conference in Bangkok, Blumenthal Richter & Sumet (BRS) Senior Partner Andreas Richter delivered a highly regarded presentation, sharing strategic insights into Thailand’s EV sector for manufacturers and suppliers. Andreas outlined Thailand’s regulatory framework, compliance requirements, environmental standards, and key supply chain and labor considerations. He also provided guidance on risk mitigation in this competitive, rapidly evolving market.

The conference, which brought together over 350 Thai and Chinese officials, industry experts, and investors, created a platform for impactful exchanges aimed at strengthening the electric vehicle ecosystem in a country with a well-established automotive industry. Supported by BRS’s Head of China Desk, Akemi Xie, Andreas emphasized Thailand’s strong growth prospects for EVs as the nation advances towards sustainable transportation. He noted that this shift offers significant opportunities for foreign manufacturers to lead the industry transition.

The BRS China Desk, alongside the firm’s expert foreign direct investment team, is well-positioned to assist multinational companies in establishing a successful presence in Thailand’s dynamic EV sector.

Blumenthal Richter & Sumet is delighted to announce its recognition as a Notable Firm in Mergers and Acquisitions (M&A) by the IFLR 1000 directory. This esteemed recognition highlights the firm’s excellence in managing complex cross-border M&A transactions in Thailand and the region.

This accolade follows Senior Partner Andreas Richter’s distinction as a Highly Regarded Individual in the same directory, reflecting his leadership and the firm’s dedication to providing outstanding M&A legal services. The firm’s Foreign Direct Investment team, led by Andreas, with the support of Partners Stefan Riedl and Ekkarat Ritthiplang, has been instrumental in executing high-profile cross-border transactions. Their combined expertise ensures the seamless structuring and negotiation of deals, particularly those involving European and North American  entities.

Blumenthal Richter & Sumet’s China Desk and Japan Desk have also been vital to the firm’s success, offering specialized guidance to clients from these markets as they navigate the intricacies of foreign direct investment in Thailand.

Andreas remarked, “We are honored to be recognized as a Notable Firm in M&A by the IFLR 1000. This accolade reflects the hard work and dedication of our entire team. I extend my thanks to Stefan and Ekkarat for their invaluable contributions. We look forward to continuing to deliver exceptional service to our clients as they pursue their international M&A objectives.”

Senior Partner Andreas Richter Distin

Blumenthal Richter & Sumet’s Senior Partner Andreas Richter has been distinguished with a Tier 1 ranking as a Highly Regarded Individual in the prestigious IFLR (International Financial Law Review) 1000 directory. This accolade underscores Andreas’ exceptional contributions to the field of Mergers & Acquisitions (M&A) and his leadership in facilitating cross-border transactions, particularly of European and North American companies in their acquisitions of businesses in Thailand. 

Andreas has also played a pivotal role in establishing Blumenthal Richter & Sumet’s China Desk and Japan Desk, providing tailored services to clients from these key markets. Over the past three years, these initiatives have successfully supported clients in expanding their presence in Thailand through mergers, acquisitions, joint ventures, and other forms of foreign direct investment.

The IFLR 1000 is renowned for its rigorous evaluation process, recognizing leading practitioners and firms that have steered clients through the region’s most significant legal transactions. Andreas Richter’s recognition as a Highly Regarded Individual in the M&A sector is a testament to his innovative approach, deep expertise, and impressive track record in delivering high-stakes transactions and complex corporate deals.

“I am deeply honored to receive this recognition from the IFLR 1000,” said Andreas Richter. “I extend my sincere gratitude to my highly capable team as well as to our clients for placing their trust in us as we guide them through the challenges of a cross-border acquisition.”

Blumenthal Richter & Sumet (BRS) is thrilled to announce that we have achieved an unprecedented five recognitions in the International Tax Review (ITR) World Tax 2025 Rankings. This marks the firm’s highest achievement in the prestigious rankings to date.

The ITR World Tax guide is widely recognized as the most comprehensive resource for identifying leading tax firms and practitioners globally. Covering over 155 jurisdictions across every continent, it provided invaluable insights based on feedback from more than 29,000 clients and 5,400 practitioners in this year.

In this year’s rankings, Blumenthal Richter & Sumet has been awarded a Tier 2 Ranking for General Corporate Tax marking our 4th year being included in this practice area, as well as a Tier 3 Ranking for Customs marking our first year being included in the Customs area. These distinctions underscore the firm’s continued leadership in the field of tax and customs law as a trusted partner to high-net-worth individuals, investors and corporations both domiciled within Thailand and engaging in business in the country.

On an individual level, two of the firm’s lawyers have been recognized for their exceptional contributions. Sumet Mingmongkolmitr, Head of Tax & Customs Practice, has been acknowledged as a Highly Regarded Individual in General Corporate Tax for several years and in Customs for the first year. This accolade highlights his sustained impact and leadership in the industry.

Moreover, Senior Associate Sudarat Jirakietwattana has earned her first recognition as a Rising Star in General Corporate Tax. This honor marks a significant milestone in her career, distinguishing her as one of the youngest lawyers to be celebrated by the directory as an up & coming talent in the field.

Under the guidance of Sumet Mingmongkolmitr and the support of his team, Blumenthal Richter & Sumet’s Tax & Customs Practice has experienced remarkable growth.

Ride the global trends with Blumenthal Richter & Sumet.

Join us at Asean Legal Alliance & Warwick Legal Network World Business Forum: Riding Global Trends.

Enhance your knowledge of leveraging Thailand as a springboard to global markets, business under the ESG era and technology & world revolution at this exciting conference with executives, decision-makers and lawyers across the public and private sectors across South East Asia.

In conjunction with Thailand Board of Investment, Global Trade & Technology Council (India) and Prompt Legal, we are delighted to support this event, featuring prominent speakers and distinguished guests.

Speakers from the public sector will include Mr. Danucha Pichayanan, Secretary – General, Office of the National Economic and Social Development Council; Mr. Narit Therdteerasukdi, Secretary – General, Thailand Board of Investment and Dr. Chula Sukmanop, Secretary – General, Eastern Economic Corridor. Speakers from the private sector will include Mr. Jirayut Srusisopa, Bitkub Capital Group Holdings Co; Ltd.

A gala dinner will follow the conference.

Mark your calendars for Friday, 27 September 2024 at the Pullman Bangkok King Power, Thailand.

Please email [email protected] for reservation and further information.

Blumenthal Richter & Sumet (BRS) proudly announces the addition of Partner Ms. Promboon Sookatup and her team to the firm’s Tax & Customs and Mergers & Acquisitions Practice. With several recent senior attorney hirings across various practices, BRS now boasts over 40 fee-earners and eight partners.

 Promboon, with over a decade of experience, specializes in tax disputes, M&A transaction related tax structures, and complex corporate setups across a variety of  industries. Her active role in shaping Thailand’s tax policies through positions on key governmental and private sector committees further bolsters her impressive profile. Promboon holds an LL.B. from Thammasat University, an LL.M. in International Commercial Law from Queen Mary University of London, and an MBA from Chulalongkorn University.

Sumet Mingmongkolmitr, Senior Partner and Head of BRS’s Tax & Customs Practice, expressed enthusiasm: “Promboon and her team’s arrival is a significant addition to our firm’s continued growth within the Tax & Customs sector.” Returning to BRS, where she began her legal career, Promboon shared her excitement: “BRS’s commitment to diversity and its global approach to delivering legal services align perfectly with my client needs. I am very excited to rejoin and contribute to strengthening the firm’s Tax and M&A portfolios.”

Promboon’s move underscores BRS’s strategy to enhance corporate, M&A, and tax services for Thai and foreign clients in Thailand and the region. Leveraging BRS’s extensive resources and global reach through Interlaw, IR Global, and the firm’s  well-established Japan and China Desks, will enable Promboon to better serve her existing clients and contribute to BRS’s continued growth as one of Thailand’s premier corporate law firms. Joining Promboon are Senior Associate Chawin Luangpattarawong and Associates Thitisuda Katanyuphada, Chatchawan Phocharoen, and Prachaya Thongpradap.