Situated in the Southeast Asian peninsula, and once known as the Kingdom of Siam, modern Thailand has enjoyed a thousand-year history of independence and integrated cultural development.

Despite a reputation for tranquility, rooted in its Buddhist heritage, Thailand has been living a dramatic period of economic growth. Over the past decade, real GNP increases have reached as high as 10% per annum, and today, while Europe and the United States struggle to rebound from recession, growth is expected to be at least 8%.

The open nature of its society and economy, a still comparative advantage in raw materials and labour, together with a fast-upgrading physical infrastructure (Bangkok has become a city of construction cranes and crews) comprise important ingredients to attract foreign investment. The country merits the description "Open Society, Dynamic Economy" which are indispensable ingredients for long-term, sustainable development.

The private sector is responsible for most of the present economic growth phenomenon in Thailand. Its investment overall is currently five times that of the public sector. Many companies are reconsidering their structure and approach, and attaching more importance to technology as a factor in competitiveness. Technology licensing and transfer from abroad are speeding up, a crucial trend which will increase with the strengthening of intellectual property laws, a legislative reform now underway.