Aussies mean business

Dr. Iain Corness
Following the success of its first Australian Business Forum (ABF) gathering in Bangkok, AustCham hosted the first ABF luncheon on Thailand’s Eastern Seaboard last week.
The ABF is a new Chamber initiative, supported by the Australian Government’s Asian Century Business Engagement Plan.
The inaugural Eastern Seaboard ABF luncheon was addressed by two top-profile presenters.
The first was David Chuter, Executive General Manager of Futuris Automotive (Thailand). From a supplier of seats and automotive components exclusively for the Australian car industry, Futuris has burst into international supply chains to become a key provider to some world’s leading car brands. It is one of the companies that comprises what the Australian Financial Review (AFR) refers to as “the new heart of Australian manufacturing” right here on Thailand’s Eastern Seaboard. The same article calls Futuris a “manufacturing pioneer” for its vision in expanding rapidly into high-growth Asian markets.
The second speaker was the Australian Ambassador to the Kingdom of Thailand, H.E. James Wise. James Wise has been Ambassador to Thailand since August 2010. This is his second posting to Thailand. From 1995 to 1998 he was Deputy Head of Mission at the Australian Embassy in Bangkok and Permanent Representative to ESCAP.
ABF luncheons follow a standard agenda of:
1. Briefing on business strategy by an Australian-related or Australian-Thai related business;
2. An update by the Australian Embassy; and
3. An opportunity for open discussion/knowledge-sharing.
The ABF is an important forum for anybody interested in the Australian-Thai business relationship, and business in Thailand more broadly. It facilitates business discussions, networking and knowledge-sharing.
It is hoped that these ABF meetings will act as a conduit to Australia and interest manufacturers down under to look at the business possibilities in Thailand.

Thailand’s GDP forecast lowered to 3.7% for this year

The Finance Ministry has adjusted Thailand’s gross domestic product (GDP) for this year from 4 percent to 3.7 percent and predicted 5.1 percent growth next year thanks to the Bt2 trillion investment on infrastructure development.
Somchai Sujjapongse, director of the Fiscal Policy Office, said this year’s GDP would not reach 4 percent unless the government speeds up the 2014 budget spending.
He predicted a delay in investment budget for next year pending a decision by the Constitution Court regarding implementation of the 2014 budget.
A budget of Bt86 billion from the total Bt600 billion must be injected into the system before the end of this year, he said, adding that the government has yet to spend Bt7 billion in financial incentives to state officials for 2011 and 2012; Bt2.5 billion budget for official workshops and seminars to be held in secondary tourist attraction provinces; and spending for road repairs.
He said the targeted 4 percent GDP was based on an assumption of export growth at 1.8 percent, or US$20 billion per month.
The GDP of Thailand’s 14 trading partners expanded by 3.3 percent while the short-term interest rate set by the Monetary Policy Committee would be fixed at 2.5 percent until next year.
Inflation is at 2.3 percent and Dubai oil price is at US$109 per barrel.
Somchai said the economic assessment for this year does not include impact from flooding in 25 provinces.
The Finance Ministry predicted next year’s GDP growth at 5.1 percent, within a possible range of 4.6-5.6 percent, thanks to strengthening economy among trading partners and an estimated spending of Bt60 billion on infrastructure development. (MCOT)

Minor Food Group returns to PEACH for a successful manager conference

Vitanart Vathanakul, executive director of Royal Cliff Hotels Group warmly welcomes renowned guest speaker and managing director of Genius Creator, Vanessa Race, with a bouquet of flowers at Pattaya Exhibition And Convention Hall.

The Minor Food Group held their Manager Conference 2013 from September 10 -12 at the Pattaya Exhibition And Convention Hall (PEACH).
Almost 900 managers from different outlets located in several regions of Thailand converged at PEACH to spend three productive days packed with team building activities, insightful seminars and breakout meeting sessions. Fun and productive activities promoting camaraderie and encouraging active problem-solving was also part of the 3-day event together with key presentations from invited renowned speakers.
One of them was the managing director of Genius Creator and author of the best-selling “Atchariya Saang Dai” (“Genius Can Be Created”), Ms. Vanessa Race.
“We are honored to once again host the Minor Food Group Manager Conference 2013,” Vitanart Vathanakul, executive director of Royal Cliff Hotels Group said.
Attendees were also treated to various entertainment and a lavish welcome dinner party by the poolside.
“It is a delight to welcome back this year the wonderful delegates of Minor Food Group,” Michael Goh, resident manager of Pattaya Exhibition And Convention Hall said.
Royal Cliff Hotels Group General Manage, Christoph Voegeli was also in attendance to present the ‘Tree Planting Certificate’ to Paul Kenny, CEO of Minor Food Group. The certificate is awarded to organizations that opt to have their event at the Royal Cliff Hotels Group and PEACH. Flame trees would be planted in vital tree planting locations on behalf of these organizations.
Minor Food Group Public Company Limited is one of the largest quick service restaurant operations in Asia, with over 1,100 restaurant outlets in Thailand, the Middle East, Singapore and Australia.

Finance Ministry objects to gold trading controls

Thailand’s Ministry of Finance does not agree with a central bank proposal to control gold trading in the domestic market, Deputy Prime Minister Kittiratt Na-Ranong said last week.
The concurrent finance minister said the Finance Ministry years ago revised domestic gold trading regulations in accord with the global market and it would not be necessary to revise the controls again.
Gold is an asset equivalent to currency and its price scales up when currencies weaken, said Kittiratt.
The Bank of Thailand, in its proposal to the Finance Ministry, expressed concern about gold speculation which could negatively impact currency exchange and the country’s trade balance, leading to a current account deficit.
Kittiratt said a big import of gold could strengthen the baht but it did not frequently happen, and free trade of gold should be allowed as some people buy gold as their savings.
Regarding a proposal to set up a futures market for gold, he said related agencies would have to discuss the issue since gold trading is conducted in many different forms and locations.
The public sector is willing to support and look after investors, he said. (MCOT)

Thailand’s telecom operators reduce 3G 21GHz package service fees 15%

Thailand’s three telecommunications operators are honoring a price reduction requirement for their 3G services on the 2.1 gigahertz (GHz) spectrum, a senior official of the National Broadcasting and Telecommunications Commission (NBTC) said last week.
Thakorn Tantasith, NBTC secretary general, said the three companies were instructed to lower fees for voice and non-voice services at no less than 15 percent, as imposed in the licenses granted to them on December 7 last year.
The three operators are Advanced Wireless Network (AWN), DTAC Network (DTN) or TriNet, and Real Future (RF).
Thakorn said AWN and RF lowered their 3G service fees on 2.1 GHz at 15 percent while DTN offered price reduction up to 29 percent.
In August, fees for voice service were Bt0.58-0.72/minute, a reduction from the required rate of Bt0.82/minute, or about 10-27 percent, while internet or non-voice service were set to Bt0.15-0.26/minute, lower than the required rate of Bt0.28/minute, or about 7-46 percent.
He said the 15 percent fee decrease for voice and non-voice services are applied only to users of 3G mobile phones on 2.1 GHz spectrum. There are currently 11 million 3G on 2.1 GHz users from a total of 90 million users nationwide. Those using 2G and 3G services are not entitled to the price incentives. (MCOT)