Foreign investment jumps 74% to THB112 billion, with largest share from Japan
FRIDAY, DECEMBER 16, 2022
Thailand saw foreign investment worth over 112 billion baht in the first 11 months this year, up 74% from the same period last year, Deputy Commerce Minister Sinit Lertkrai said on Friday.
He said the biggest investor was Japan, with 39 billion baht from 137 entities. Japan also accounted for 26% of the total 530 foreign investors registered between January and November.
China was the second-largest foreign investor at 22.6 billion baht – despite having the fewest number of investors among the top five countries/territories with 25 (5%).
Singapore ranked third with 11.9 billion baht from 85 investors, said Sinit, citing data from the Department of Business Development.
Hong Kong was fourth with 8.4 billion baht from 38 investors while the US was fifth with 3.3 billion baht from 70 investors.
Foreign investment projects in the first 11 months are expected to create 5,008 new jobs in Thailand, Sinit said.
The number of investors rose from 500 last year to 530 this year – a 6% increase.
Most of the foreign investment was in projects related to infrastructure development and supporting industries, according to the deputy commerce minister. They included subcontractors for an electricity plant for U-Tapao Airport, upgrading Map Ta Phut Industrial Port, design and development of electric vehicle charging stations, international goods distribution centres, and software and digital data services.
Thailand refutes US determination of solar panel ‘dumping’
FRIDAY, DECEMBER 16, 2022
The Commerce Ministry has refuted the United States’ preliminary determination that solar panels imported from Thailand are evading US anti-dumping measures.
US authorities published a determination on December 8 that solar cells and modules imported from manufacturers in Thailand, Vietnam, Malaysia and Cambodia are using parts from China. This shows an intention to evade US anti-dumping and countervailing duty measures against China, the determination said.
“In this preliminary determination, the US has chosen only two Thai exporters to question about the origin of their materials. These two are only a fraction of all exporters of solar panels in Thailand,” said Ronnarong Phoolpipat, director-general of the ministry’s Foreign Trade Department.
Ronnarong added that US representatives will visit Thailand to investigate solar panel businesses before completing the final determination on anti-dumping practices on May 1, 2023. He urged the businesses to cooperate with US representatives by providing full details of products and materials, adding that the Foreign Trade Department will help prepare Thai businesses for the inspection.
In the meantime, Thai manufacturers can still export solar panels to the US tariff-free under a presidential order that exempts import tax on solar products from the four countries until June 9, 2024.
In the first 10 months of 2022, Thailand exported solar panels worth over US$940 million (32.9 billion baht), up 3% year on year. Thailand’s other major markets for solar panels are Vietnam, India, Taiwan, Turkey and China.
Thailand’s economy to grow by 3.6% in 2023, riding on tourism recovery: UTCC
FRIDAY, DECEMBER 16, 2022
The country is likely to see 3.6% economic growth in 2023 thanks to the performance of the tourism sector, despite the nation’s export growth slowing down, according to University of the Thai Chamber of Commerce (UTCC).
The president of the UTCC and adviser to the university’s Centre for Economic and Business Forecasting, Thanavath Phonvichai, said the number of tourists visiting Thailand is expected to increase from 11 million this year to 22 million people in 2023, while the nation’s exports are slowing down due to a decline in trade partners’ purchasing power.
“Exports are expected to recover by the third quarter of next year,” he said. “In addition, investment from the public sector is also a factor that will bolster Thailand’s economy as production bases are shifted to several Asean countries, including Thailand.”
He said the nation’s economy was predicted to grow by 3.3% this year, driven by the tourism sector after Covid restrictions were eased, which has brought an influx of tourists to the country, while exports continue to thrive.
UTCC has forecast that in 2023, Thailand’s export and import growth will be 1.2% and 2.2% respectively while investment from the public sector will expand by 3.2%.
He said inflation in the country would increase by 3% if the global and national economy follow these conditions: global trade volume rises by 2.5%, the global economy grows by 2.7%, 22-24 million people visit Thailand, currency rate stays at 35.95 baht to the US. dollar, crude oil from Dubai remains at US$92.50 per barrel, and the policy interest rate stays at 1.25-2%.
“The relief in the Covid-19 situation in the country, the return of tourists, improvement in the agricultural sector, and especially the election scheduled to take place next year will all help generate revenue for the country,” he said.
However, he said there is uncertainty about the conflict between Russia and Ukraine, rising energy and commodity prices, central banks’ interest rate hike to deal with inflation, volatility in financial markets and global economic recession, which could pressure Thailand’s economic growth.
“Singha” launches 100% biodegradable packaging as the first company in Asia
THURSDAY, DECEMBER 15, 2022
“Singha” launches “Singha Sustainable Pack” by changing from plastic to paper that is 100% biodegradable and eco-friendly for the first time in Asia. Furthermore, using soy-based inks on the packaging, which are not harmful to animals, strengthens the brand’s social responsibility and environmental consciousness.
Mr Thitinand Chumpani, Marketing Director for Alcohol Business, Boon Rawd Trading Co., Ltd. revealed that Singha is always aware of the priority of combining business operations with environmental protection, following the policy of Mr Bhurit Bhirombhakdi, CEO of Boon Rawd Brewery Co., Ltd. by increasing production to reduce the impact on the global environment and making the best use of resources. Recently, Singha launches new packaging “Singha Sustainable Pack” by changing from using Shrink Film to using 100% biodegradable paper, starting with 3 SKUs in the beverage line, including Singha Cancollar: size 320 ml., packed in 4 cans, and size 320 ml., packed in 6 cans, and including Singha Basket, size 490 ml., packed in 4 cans.
The new packaging is made from Virgin Fiber, which can be disposed of in a landfill or left in nature. It is 100% biodegradable and does not contain a white coating that makes the paper difficult to degrade. Besides, the ink used to print the messages on the packaging is made from soybean oil instead of petroleum, which is more environmentally friendly and will not harm animals or plants if the packaging falls into a river or sea. It also contains Volatile Organic Compounds (VOCs), which reduce air pollution and make it easier to separate ink from printed matter and recycle packaging. Although the packaging is plastic-free, the product retains its weight even if it is stored in the refrigerator or an environment with high humidity for a long time.
Furthermore, Singha has also collaborated with GEPP Sa-Ard, a team specializing in waste management and recyclable materials to bring technology to support managing waste more conveniently by organizing the “One pack one piece” campaign. This campaign stands for Eco-friendly packaging. When a customer buys 1 pack of a product, Singha will donate to an organization that manages waste from Thailand for recycling, and each pack is labeled with a QR code to track waste collection. Singha aims to reduce the amount of plastic waste by 2 million pieces per year. This is equivalent to a decrease in greenhouse gas emissions of 30,930 kilograms of carbon dioxide equivalent (kgco2e) per year. Those who are interested can follow the details of the campaign “One pack one piece” at https://www.singha.com/singha-experience/experience-thainess/1pack1piece
In the past, Singha has concentrated on environmental activities, including the development of production as well as marketing promotion activities that use more eco-friendly materials such as Singha Food Festival 2022, which did not use Single-Use Plastic, but instead used paper plates and cups. However, as for the plan to reduce environmental impact in the future, Singha will expand into the food business, waste management, using natural materials, and eliminating single-use plastic to achieve the goal of zero waste.
Giant fruit juice company from Taiwan visits PM80, head office of longan beverage ‘P80 Longa’
THURSDAY, DECEMBER 15, 2022
Chairman Prayudh Mahagitsiri, President of PM80 Co., Ltd., recently welcomed Mr Pat Yang, President and CEO, Mr Anderson Yang, Marketing Director, and management team of Chia Meei International from Taiwan.
Other PM80’s executives including Mr Chalermchai Mahagitsiri, Chief Executive Officer, Mr Kamolsut Dabbaransi, COO, Mr Jirawat Dechasathien, Managing Director, and Mrs Pranee Wittayaphasit, Supervisor senior management, were also present.
The Taiwanese manufacturer giant has over 40 years of global juice manufacturing and supplying experience. In addition to the core business, the company extends its expertise in juice and beverage through a newly established company, Yun Ding Food & Beverage Co., Ltd., to target emerging global beverage trends such as functional beverages, healthy juices, and Taiwanese bubble (boba) tea.
Today, Yun Ding Food & Beverage offers juice customization, beverage distribution and white-labelling services, bringing healthier and innovative food products to the market. The Taiwanese company’s visit in Thailand entails inspection and validation of the production process of the longan-extract essence (P80 Essence) and longan-based soda (Longa). Both parties formed a memorandum of understanding to expand PM80’s innovative products throughout Greater China and ASEAN regions. Senior executives and sales teams from both companies were seen taking a tour throughout Thailand’s vast number of distribution channels, where the company’s products are currently available for sale.
Mr Sorakrit Wannalak, Senior Advisor and Public Communication to PM80, revealed that the Company’s series of food and herbal products all derive from the original longan extract concentration, which holds many health benefits supported by international medical institutions. There are currently 6 products expected to be released in the market soon.
In most recent news, the management team, led by Mr Monsut Dabbaransi (COO), flew to Vietnam to thank and officially launch the company’s PM80 products via Sapua, Vietnam-based beverage distributor, who will be jointly selling Longa in the first lot, totaling to an export of over 10 million bottles.
DBS launches new buildings and world-class auditorium
THURSDAY, DECEMBER 15, 2022
DBS Denla British School announced the official launch of the two new senior school buildings and the Araya Hall, a world-class auditorium with over 600 seat capacity.
These new facilities are equipped with international standard innovative technologies to support the senior school’s expansion and shore up the development of students with well-rounded skills essential for their success in the future.
This is in accordance with the British Independent School Curriculum which not only focuses on academic aspects but also encourages students’ self-discovery skills and uncovers their talents at a young age as well as develops self-learning skills that will be with them for the rest of their lives.
Arn Pandejpong, the Chairman of DBS Denla British School
During the “Araya Hall Grand Opening”, Arn Pandejpong, the Chairman of DBS Denla British School and Jonny Liddell, the Headmaster of DBS Denla British School, together the others jointly launched the official opening ceremony of the new senior buildings and the Araya Hall at DBS Denla British School, Nonthaburi.
Arn Pandejpong mentioned that the opening of the new senior school buildings and the Araya Hall certified with international standards will accelerate the potential of our students and the teaching quality and allow the students to excel in their knowledge and skills and further develop into limitless success in the future.
“ We built these facilities with our heart especially for the students, not for myself, but for them since I want to see the seeds from DBS grow, be successful and become great global leaders”, revealed Arn.
Jonny Liddell, the Headmaster of DBS Denla British School
Jonny Liddell added that DBS will use these amazing conditions for the perfect journey of self-discovery for all children to become great global leaders in whatever they choose to do, and as they go through their time at DBS on a journey of self-discovery. With access to amazing facilities, they will achieve amazing things through the identification and nurturing of their passions and ensure that they burn brightly so that they do marvellous things both in school and beyond.
Additionally, DBS students impressed audiences with performances, such as the choir of 300 students on “Zadok the Priest”, classical music, live art and design shows, and many more. These shows proved to everyone the reputations of DBS students on their potential and well-rounded skills. Guests, parents and the press were taken on the school tour to witness the new building, the Araya Hall and all the facilities that were delicately selected for the students.
“Building for the best didn’t finish when we built these new facilities. It was just the end of the beginning. The real building starts now in the hearts and minds of our students to whom we dedicate what we do every day. We have built for the best because they are the best”, closed Liddell .
CP teams up with Toyota, Hyundai, and MG to promote sustainability in transportation industry
THURSDAY, DECEMBER 15, 2022
To form an alliance of global forces in the transportation sector to push for carbon neutrality, Toyota and Thailand’s Charoan Pokpand Group (CP) have agreed to work together and they welcome other manufacturers with similar objectives because they believe that working together will move the aim closer to realization.
Akio Toyoda, Chairman of Toyota Motor Corporation, Mr. Hiroki Nakajima, President of Commercial Japan Partnership Technologies, Mr. Noriaki Yamashita, President of Toyota Motor Thailand, together with Mr. Soopakij Chearavanont, Chairman of Charoen Pokphand Group and Mr. Kachorn Chiaravanont, President of True Leasing Co., Ltd. went on the stage recently to unveil the cooperation on the occasion of Toyota’s 60th anniversary of business operations in Thailand at the Queen Sirikit National Convention Center.
The collaboration in lowering global warming is open to businesses from every industry, according to both parties’ announcements. Currently, CP also collaborates with renowned automakers from other nations, such as MG from England and Hyundai Motor Company from South Korea.
Toyoda also highlighted the importance of the private sector for Thailand to achieve carbon neutrality by 2050 and net zero by 2065. CP and Toyota have jointly announced the open partnership cooperation to achieve the carbon neutrality goal in Thailand, whilst inviting companies from all sectors who share the same goal to jointly help reduce global warming.
“I believe that this joint initiative utilizing the strengths and existing resources of both companies will lead to the acceptance and create change in society both in Thailand and at the global scale. Both companies which are concerned about Thailand and the world agree to work together and take action today,” Mr. Toyoda said.
In addition, Toyota is ready to share the CASE technology because the environmental issues are not for competing about, but rather a motive to cooperate and codevelop technologies.
“We have to start today with what we have and work together. The fact that CP has partners besides Toyota in the automotive industry is good; we look forward to collaborating with other parties under this project. We strive to make each year better than the year before, so that we can witness concrete results.
The reason why I initiated the project in Thailand first is because I have always wanted to repay my gratitude towards Thailand. We will bring in environmentally friendly vehicles and we are open to allies from China and South Korea to jointly make the world a better place. I hope that the project will happen soon and that we can expand to other countries in the future,” he added.
Dhanin Chearavanont, Senior Chairman of CP Group, said earlier that “What President Toyoda and I have in common is the desire to repay Thailand. I am pleased that both companies have the opportunity to collaborate towards carbon neutrality especially in Thailand and we welcome allies from all sectors to join the alliance to achieve this goal.”
Soopakij Chearavanont, Chairman of CP Group said at the press conference that this collaboration was founded on the mutual environmental goal aiming to be carbon neutral by 2030 and net zero by 2050. Currently, CP has several ongoing joint studies with global automotive players such as Hyundai Motor Company from South Korea and is conducting electric vehicle (EV) tests with Hyundai Glovis in our logistic business, and also collaborating with MG from England and Foton from China to find sustainable transportation solutions.
The Chairman of CP added that CP’s intention to cooperate with Toyota is to do good things for the society, the world, and Thailand. Not only are our goals aligned with Toyota, but the Chairman also appreciates Toyota’s openness to partnerships with other automotive players to achieve carbon goals faster.
Mr. Kachorn Chiaravanont, President of True Leasing Co., Ltd., said that CP has been a partner with Toyota for more than 20 years since 1998. Toyota has joined hands with CP to help the Thai people in times of crisis, such as the flood situation and is always regarded as good friends.
For this cooperation with Toyota, CP has assigned True Leasing to study ways to reduce carbon dioxide emissions. Since both parties have agreed that the transportation sector is very important and the alliance should be open to partners from both public and private sectors to achieve the goal. CP’s policy to become a Carbon Neutral organization by 2030 and achieve the Zero Carbon goal by 2050 is aligned with Toyota’s direction.
The CP Sustainability Report states that CP has projects related to sustainability and to reduce carbon emissions such as reducing energy consumption through energy saving projects, reforestation, using solar and wind energy.
CP is also working with government sectors such as the Greenhouse Gas Organization to try to achieve the goal of becoming a Carbon Neutral organization by 2030 and achieving the Zero Carbon goal by 2050. Although challenging, CP is determined to succeed and ready to open up to partners to achieve the sustainability goals.
CP and Toyota will also explore social implementation via True Leasing in the following three areas. With these actions being linked with each other, the two companies will proceed with what can be done today to consistently reduce CO2 emissions throughout the entire supply chain.
There are three main collaboration areas: 1. Study on hydrogen production using biogas derived from farm waste in Thailand. (Specifically in Special Economic Zones) 2. The use of fuel cell electric vehicles (FCEV) in True Leasing’s activities (Providing a variety of approaches such as BEV and FCEV based on travel distance and payload) and 3. Studying effective transport collaboration using connectivity technology to optimize True Leasing’s delivery routes.
Toyota also plans to begin considering the participation of Hino Motors, Ltd and its group companies in the Commercial Japan Partnership Technologies Corporation (CJPT), which includes ISUZU Motors Limited, SUZUKI Motor Corporation, DAIHATSU Motor Co., Ltd. and TOYOTA).
CJPT was established with the purpose to help solve the challenges faced in the transport sector and achieve carbon neutrality through the dissemination of the CASE technology. Furthermore, as carbon neutrality should be tackled by all people and industries, CP and Toyota are willing to welcome any partners who share the same view towards carbon neutrality.
C.P. Group launches second annual corporate Human Rights Report on Human Rights Day
THURSDAY, DECEMBER 15, 2022
Charoen Pokphand Group publishes its second annual Human Rights Report, developed based on the United Nations Guiding Principles Reporting Framework (UNGPRF). The report is officially released on December 10th, the Human Rights Day. By publishing the report, the Group seeks to emphasize transparency in its business operations and respect for human rights within the Group’s businesses and throughout its value chain.
Mr Suphachai Chearavanont, Chief Executive Officer of C.P. Group, states that Charoen Pokphand Group is committed to conducting business ethically and with respect to human rights. This Human Rights Report presents the Group’s commitments and goals in line with the 3 Benefits Principle of putting the needs of the country and the people ahead of the Group’s business interests.
“Today, Charoen Pokphand Group employs more than 450,000 people across 21 countries and economies. As the Group continues to grow, it becomes ever more important that the protection and promotion of human rights is embedded within corporate culture, so as to ensure that employees at all levels of our business recognize and mitigate human rights risks which exist within our value chain. This year’s human rights report is our second, representing our continued dedication to enhancing and developing our ability to manage human rights issues within our operations and value chain, as well as our efforts to work with our peers and other stakeholders to enact local and even global transformations,” said Mr Suphachai.
Furthermore, Charoen Pokphand Group has reviewed and updated existing and announced new policies regarding human rights issues, such as: Human Rights and Labor Practices; Migrant Workers Recruitment; Diversity, Equity, and Inclusion; Discrimination and Harassment Prevention; Personal Data Protection; and more.
In addition, the report explains the measures the Group has taken against the increased risks of cyber threats, including both digital and physical security. To protect against these risks and complex digital threats, the Group established the Cybersecurity Center of Excellence to act as the center of digital security operations. This allows for a more comprehensive management of risks and threats, while also developing and disseminating best practices for all the Group’s subsidiary businesses and supply chain.
The report also emphasizes the importance of working with stakeholders to address global issues and drive respect for human rights within local communities, groups, and all stakeholders throughout the supply chain. By listening to diverse ideas and voices, the Group is able to promote human rights in more effective ways, driving change in cooperation with both local and international stakeholders.
The Group reports all its efforts, clearly and transparently, in this year’s Human Rights Report. This reinforces the Group’s commitment to respecting human rights in the move towards sustainable and stable growth for society, communities, and all stakeholders.
Marriott anticipates its milestone 50th hotel opening in Thailand in 2023
THURSDAY, DECEMBER 15, 2022
On the heels of Thailand celebrating its milestone of 10 million tourist arrivals in 2022, Marriott International, Inc., announced on Tuesday plans that it expects to reach 50 hotels in the country by mid-2023, including adding an anticipated eight hotels in 2023.
With these openings, the company also expects to debut two new brands – Autograph Collection Hotels and Moxy Hotels – in the country.
“Our growth in Thailand signifies the trust hotel owners and franchisees have in Marriott International and their overall confidence in Thailand’s tourism industry. Leveraging Thailand’s strong hospitality sector, the Thailand Government’s spotlight on the industry and Marriott’s commitment to excellence, we remain laser-focused to continue to meet the increasing travel demand with our expansion plan,” said Jakob Helgen, Area Vice President of Thailand, Vietnam, Cambodia & Myanmar, Marriott International.
Premium Brands Continue to Grow in Thailand Marriott International continues to strengthen the presence of its existing premium brands in Thailand, including Sheraton Hotels & Resorts, Marriott Hotels, Marriott Executive Apartments, Westin Hotels & Resorts, Le Méridien Hotels & Resorts and Renaissance Hotels. The company anticipates adding its first Autograph Collection Hotels property in Thailand with Madi Paidi Bangkok, Autograph Collection expected in mid-2023. A diverse portfolio of independent hotels championing individuality, Autograph Collection Hotels properties are selected for their inherent craft and distinct perspective on design and hospitality.
More Options for Extended Stays With the rise of digital nomads and the fusing of business and leisure travel, the company expects to expand its extended stay portfolio with the anticipated opening of three properties under the Marriott Executive Apartments brand in Bangkok’s Sukhumvit Area. Marriott Executive Apartments Bangkok, Sukhumvit 101; Marriott Executive Apartments Bangkok, Sukhumvit 50; and Marriott Executive Apartments Bangkok Townhall Sukhumvit are all set to offer hotel services for longer stays, with all the comforts of a home-away-from-home.
Select Service Brands on the Rise New slated openings from Courtyard by Marriott and Moxy Hotels are expected to add to the country’s existing select service portfolio. Each hotel offers distinct value for travellers with streamlined services and amenities, paired with casual, convenient dining options and warm hospitality — all at an approachable price point.
Two Courtyard by Marriott hotels located at Suvarnabhumi Airport and in Bangkok’s Sukhumvit area, a well-known downtown commercial district, are anticipated to open in 2023. Courtyard by Marriott offers a sophisticated yet comfortable environment for domestic and international travellers—from savvy business travellers to leisure travellers, no matter the purpose of their trip.
The company also expects to unveil its first Moxy hotel in the country, Moxy Bangkok Ratchaprasong on Ratchadamri Road, bringing a playful, stylish and unconventional hotel experience to the heart of Bangkok’s lifestyle district. With more than 500 rooms, the hotel will provide a spirited, fun and affordable option for young-at-heart travellers looking to discover Bangkok’s bustling nightlife, enticing culinary experiences, and retail delights.
“Thailand offers an all-around unique travel experience—from beaches, and historical and cultural sites to exquisite dining experiences to a vibrant nightlife. Our 2023 expected openings in Thailand reflect the strong demand from both local and international travellers, to discover new and different facets of the Thai Kingdom,” added Jakob Helgen.
Marriott International’s growing presence in Thailand augments its current operation of properties across 14 brands in more than 10 destinations in the Kingdom from Bangkok, Phuket, Chiang Mai, Khao Lak, Koh Samui and more.
Thai economy will buck the global trend and fully recover next year: seminar
THURSDAY, DECEMBER 15, 2022
Nongluck Ajanapanya
Economists and business leaders are optimistic that Thailand’s economy will fully recover next year, thanks to foreign tourist inflows, but more transformation is required for the kingdom to achieve resurrection rather than just survive the recession.
They were speaking at the “Go Thailand: Recession or Resurrection” seminar on Wednesday, which was sponsored by Nation Group’s Thansettakij.
The opening speech was delivered by Fabrizio Zarcone, World Bank country manager for Thailand. The outlooks for the global economy and Thailand are moving in opposite directions, he said.
The global economy is expected to enter a recession next year, particularly in major economies such as the United States, Europe, and Japan, but East Asia and the Pacific, including Thailand, are showing signs of recovery.
The recovery of Thailand’s tourism sector and strong private spending are driving this expansion, Zarcone said.
In order to sustain the country’s growth and resilience, Zarcone said four initiatives are necessary: fiscal consolidation, increasing social assistance to the most vulnerable groups, investing in human capital, and making the tax collection system fairer and more efficient.
Win Phromphaet, Krungsri executive vice president and head of the high net-worth division at Bank of Ayudhya, agreed with the World Bank’s forecast for the global economy.
Win Phromphaet
Win advised Thai retail investors to diversify their investments across multiple assets. Bonds and debt instruments should account for more than half of the investment portfolio, with a small portion allocated to alternative assets such as gold and real estate, he said.
Equities still have a chance to profit, but investors must study them carefully before investing, Win added.
Meanwhile, high inflation, household debt, and domestic politics will be major concerns in the coming year.
Somchai Lertsutiwong
Somchai Lertsutiwong, executive vice president and marketing at Advanced Info Service, encouraged businesses of all sizes to undergo digital transformation.
Digital and advanced technology will add more value and efficiency to the country’s products and services and help Thailand remain globally competitive, Somchai said.
Yuthasak Supasorn
Yuthasak Supasorn, governor of the Tourism Authority of Thailand, said the tourism industry would be the country’s hero for the foreseeable future.
However, Thailand’s tourism industry will no longer prioritise quantity. As a result, all industry participants must upgrade their services and products by incorporating new technology and implementing the Bio-Circular-Green economic model.
“Our target tourists will be high quality and high spending,” Yuthasak said.
Wallaya Chirathivat
Wallaya Chirathivat, deputy chief executive officer of Central Pattana, listed three factors that will propel retail businesses: business transformation, urbanisation, and sustainability.
She defined transformation as keeping businesses up to date on consumer trends so that they can meet the needs of all customer segments. The goal of urbanisation is to achieve equitable income distribution and to improve employee skills. Sustainability, she said, is showing kindness to local communities and the environment.
Thanathip Supapradit
Thanathip Supapradit, CEO of Thonburi Healthcare Group, stated that a good strategy for doing business in the healthcare sector is to plan for expansion in growing markets while supporting people in slowing markets.
He noted that doing so not only helps to sustain its business and employees, but also wins the hearts and brand loyalty of patients.
Although he is confident that Thailand will remain the top healthcare hub in Southeast Asia and one of the top in the Asia-Pacific region, the country’s healthcare sector faces a lack of skilled workers.
He called for more investment in human capital and digital technology.
Somporn Suebthawilkul
Somporn Suebthawilkul, managing director at Dhipaya Insurance, said that global uncertainty was encouraging more businesses to see the importance of both life and non-life insurance.
The insurance industry will have a good year next year, he said.
Arn Pandejpong, the Chairman of DBS Denla British School
Jonny Liddell, the Headmaster of DBS Denla British School
Win Phromphaet
Somchai Lertsutiwong
Yuthasak Supasorn
Thanathip Supapradit
Somporn Suebthawilkul
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