The people of Thailand will have a chance to put aside recent worries today when they celebrate the birthday of King Bhumibol Adulyadej, the world's longest-reigning monarch, who came to the throne in 1946.
It will be an occasion to forget for a while the effect of the floods that hit parts of the country earlier this year, and think instead of all the positives that continue to make Thailand one of Southeast Asia's strongest economies and a magnet for trade, tourism and foreign investment.
The attraction stems from the sense of social and political stability, exemplified by reverence for the Thai monarchy and widespread adherence to the teachings of Buddhism. It also relates to an interest in the kingdom's cultural diversity, scenic splendours, and tropical coastlines. For the international business person, the lure might be the opportunities offered by an open economy, where government agencies have tried to reduce restrictive red tape.
The Royal Thai Consulate-General in Hong Kong notes that the country's close to 67 million people enjoy the benefits of steady growth, strong exports and a vibrant domestic consumer market. Last year, gross domestic product hit US$317 billion, growing at a rate of 7.8 per cent. This year, GDP growth of 3.5-4.5 per cent is projected.
Underpinning this are abundant natural resources and a skilled, cost-efficient workforce. The country is one of the world's top producers of rubber, rice and sugar, as well as of hard disk drives, polymers and cars.
Thailand has the infrastructure and technology needed to support 21st century business. Airports and other transportation facilities are regularly upgraded, while telecommunications and IT networks keep pace with developments around the world. Industrial estates provide high-level amenities and appropriate support services for multinationals, smaller enterprises and start-ups.
Thailand's investment policies encourage free trade. Foreign investments, especially those that contribute to the development of skills, technology and innovation, are actively promoted.