The Thai government aims to develop its startup industry by taking inspiration from Singapore’s successful initiatives, which have made it a leading hub for entrepreneurs.
Singapore, ranked sixth in this year’s global startup ecosystem index by StartupBlink, is considered the top Asian economy in this field. In contrast, Thailand ranks 52nd globally. Thailand faces various obstacles in supporting entrepreneurs, including complex paperwork, a lack of investors, and a shortage of skilled talent.
Key Takeaways
- Thailand plans to boost its startup industry by providing tax-free capital gains to investors in specific sectors.
- Singapore’s success in fostering thriving startups can be attributed to factors such as low corruption, ease of doing business, and no taxation on capital gains.
- Although Thailand has taken steps to develop its startup ecosystem, challenges remain, including the presence of oligopolies, a shortage of investors, and a complex bureaucracy.
- Thailand’s startup ecosystem is still in its early stages, but it holds significant potential for growth and advancement.
