Joint Chambers of Commerce in Thailand briefs foreign media on business prospects amidst current situation

 

On 10 June 2014, the Joint Foreign Chambers of Commerce in Thailand (JFCCT) organized a press conference on “Confidence in Thailand” at Grand Hyatt Erawan Bangkok to express opinions of the foreign business community in Thailand on trade and investment in the country during the current situation. Panelists include Mr. Stanley Kang, Advisor of the Board of Trade of Thailand and Chairman of the JFCCT, Mr. Brian Sinclair-Thompson, Vice Chairman of the JFCCT, Mrs. Vibeke Lyssand Leirvag Conselvan, President of Thai-Norwegian Chamber of Commerce, and Mr. Yeap Swee Chuan, President of Malaysian-Thai Chamber of Commerce. A number of key figures representing various chambers of commerce such as Indian, Russian, Indonesian, Hong Kong and Korean Chambers of Commerce in Thailand also attended the press conference.

 

The panel agreed that the business ambience in Thailand has not significantly changed since the establishment of the NCPO. Mr. Sinclaire-Thompson articulated that any negative effect on the economy has resulted from ongoing conflicts originated years ago. However, the focus is now shifting towards recovery and it is expected that business will boost in the next months to come. This is chiefly because Thai economy is resilient to crises and Thailand has strong infrastructure to continue facilitating for businesses. In addition, Mr. Chuan asserted that Thailand still provides a safe environment for business to continue as usual.

 

As for the way forward in regaining confidence from the international community, Mr. Sinclair-Thompson suggested that Thailand must step up its efforts to invite tourists and business persons alike to come see the situation first-hand. Developments of existing infrastructures and commodities, such as airport and transportation facilities, are also needed to meet the demand of foreigners. Mrs. Conselvan stressed also that it is essential for Thailand to encourage proper understanding of the current situation among foreigners and companies currently doing businesses in the country, as they can play a key role in communicating with prospective foreign investors.

 

Overall, the panel agreed that the current development has little negative impact on business dealings in Thailand, and they are looking forward to strong recovery as the situation has now stabilized.

Confidence in Thailand, it is emphasized, can be effectively promoted through words-of-mouth of existing business community as well as through a comprehensive communication with the press. The panel also encourages Thai people, together with foreign businesses in Thailand, to come together and to work as a team in pushing forward the recovery Thailand deserves.