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NTCC Newsletter August 2009 Thai Competitiveness continues to rise BOI reports that despite the ongoing political turmoil in the country, Thailand continues to have one of Southeast Asia’s most competitive economies. Thailand rose one place to 26th in the latest IMD World Competitiveness Yearbook (WCY), a ranking of the world’s 57 most competitive economies. Thailand’s improved ranking in the WCY comes on the heels of the “2009 World Bank Ease of Doing Business Report”, in which Thailand moved up two spots from 15th to 13th. This is consistent with the IMD ranking, for ease of doing business is a key factor in a country’s competitiveness. Full report at: http://www.boi.go.th:8080/issue_content.php?issueid=53;page=85
Dutch Investors keen on investing in Thailand Like our NTCC Bangkok Director Bert Cesar keeps pointing out, now BOI also reminds us that with so much negative news around nowadays, we tend to forget some of the great stories investors in Thailand have to tell. Several world market leaders from the Netherlands have chosen Thailand as their main base in Asia, and they continue to grow and invest in Thailand. Included are some major brand names, such as Philips, ING and Heineken. But smaller and medium-sized companies also contribute significantly to Thailand’s economic growth. Please check the BOI article at: http://www.boi.go.th:8080/issue_content.php?issueid=54;page=91
H.E. Mr. Abhisit Bevjajiva speaks at JFCCT Seminar Last July 23rd Prime Minister Abhisit delivered an opening speech at the seminar titled ‘Thailand’s Investment Environment: Looking Forward’. He stressed that the overall situation in Thailand has improved and the positive changes that have been taking place to face the challenging economic crisis. He mentioned the numerous laws and international agreements that Parliament has recently approved and the stimulus packages that have been successfully implemented. In his speech he explained how Thailand wants to serve as a gateway to other Southeast Asian countries and beyond and the vital role of the BOI. The opening remarks are available on our homepage.
Worldbank Thailand Economic Monitor 2009 The Worldbank’s May – June 2009 outlook projects a mixed picture. Market indicators confirm Thailand’s relatively strong financial position, which would be supportive of a recovery. The labor market response has been primarily through a reduction in the quantity of labor, leading to increases in unemployment and reduced number of hours worked. The social impact of the global financial crisis is expected to be felt primarily by the urban informal sector. Returning to a high growth rate is essential for poverty reduction as well as the sustainability of fiscal policy. Positioning Thailand for the post-crisis environment will be vital to a resumption of robust long-term growth. A solid financial armor could not protect Thailand against the impact of the global financial crisis on its real economy. Despite some recent signs of improvement, real GDP is projected to contract by 2.7 percent in 2009 as the global outlook remains negative and the shock to external demand propagates to the domestic economy in a negative multiplier effect. Thailand’s immediate prospects depend primarily on an improvement in external demand. Fiscal policy has become expansionary and will help mitigate the impact of the crisis. Recent data suggests a possible bottoming out of economic activity, but it is unclear whether the pick-up can be sustainedTo download the full report go to:
http://www.worldbank.or.th/WBSITE/EXTERNAL/COUNTRIES/EASTASIAPACIFICEXT/THAILANDEXTN/0,,contentMDK:22241515~menu PK:333302~pagePK:1497618~piPK:217854~theSitePK:333296,00.html Nam Thuen 2 Energy Production successfully tested The Nam Theun 2 Hydropower Project in Laos, achieved a significant milestone last week, when initial synchronization of one of the turbines was completed and the first test energy was delivered to the Electricity Generating Authority of Thailand (EGAT). The test delivered a total of 60 Megawatts (MW), through the transformer bay and substation, to the 500 Kilovolts (KV) transmission line that exports electricity to Thailand. For more information on the project, please visit http://www.worldbank.org/laont2 or http://go.worldbank.org/SBAUA1JBR0
Solutions to Cultural Clashes Thailand's cross-cultural workplaces need expatriates to invest more in personal relationships and Thais to be more straightforward with foreign colleagues, according to a survey by the coaching firm 1-2-win. The company worked with the Netherlands-Thai Chamber of Commerce in surveying 120 companies and interviewing 28 Thai and foreign business leaders. The results are for sale as well as a DVD with the interviews and comments of leading CEO’s. You can contact 1-2 win through their website: http://www.1-2-win.net/index.html
Asia’s Turning Point This recent publication claims to be an introduction to Asia's Dynamic Economies at the Dawn of the New Century. It considers the current global crisis a display of Asia’s new structural strength, that has accelerated the shift of economic and financial power from the West to the East. The East Asian miracle – as heralded by the World Bank in 1993 – was a period where East Asian countries were steadily enhancing their role in the world economy, opening enormous trade and investment opportunities. Led by Japan, they created a unique model of capitalism, much different from the Western model, and characterized by the state-led industrial growth, dominance of family-owned conglomerates (or corporate shareholders in Japan) with weak corporate governance, and family-like pattern of labor relations. The 1997/98 Asian financial crisis put an end to this region’s “economic miracle” – in exposing the weaknesses in its Japan-inspired model of capitalism, the need to implement far-reaching change became even more evident. Asia’s Turning Point combines innovative concepts with lively descriptions of Asia’s economic, business and everyday life. For more information or to order this new publication: http://eu.wiley.com/WileyCDA/WileyTitle/productCd-0470823607.html
Thailand Grand Festival ‘09 The Royal Thai Embassy in The Hague and the Thai Community in the Netherlands again organise the Thailand Grand Festival in Amsterdam on September 5 and 6. The event will take place at Beursplein in Amsterdam from 11:00 till 20:00 hours on both Saturday and Sunday. Come and see the Royal Projects Products and Exhibition, enjoy traditional dances and music, authentic Thai cuisine, tropical fruits and an Elephant Sculpture Parade. Free admission. More details at: http://www.iamsterdam.com/en/productions/365871DF-C5A4-E29B-BADEAD40176FAB25/thailand-grand-festival
Reminder Thailand Reunion 2009 Please be reminded that this year’s Thailand Reunion for former expats from the Netherlands and Belgium in Thailand will be held on Sunday September 27th in Amsterdam. For registration (before September 6th) and details please contact Ton and Marianne Lokhorst at 023 5625166 or 06 49409745.
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