Thailand Defence & Security 2018
Defence spending in Thailand will continue to grow apace. This comes amid a commitment to increased levels ofmilitary spending in terms of GDP by the military junta and continued threats both internally and in the South East Asia region. Themilitary, even if eventually relinquishing power, will continue to hold great sway over the political process, ensuring continued highexpenditure on defence. The local defence market remains underdeveloped and unable to supply Thailand with modern militaryhardware, meaning the nation is reliant on international suppliers for new acquisitions. Multiples orders of new hardware – coveringeach branch of military – ensures that Thailand will remain a market with great potential for international defence companies.Nevertheless, continued issues surrounding corruption and opaque procurement procedures mean that the business landscape inThailand will remain less attractive over our forecast period. Political uncertainty poses the greatest current risk to those wishing todeal with Thai firms or Thai institutions; the repeated postponement of democratic elections has the potential to lead to significantsocial unrest if not resolved satisfactorily.
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