Thai business operators urged to be ready for AEC

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The Thailand Development Research Institute (TDRI) encouraged Thai business operators to prepare for a new environment under the ASEAN Economic Community (AEC).

In a seminar on the future of Thai industries after the formation of the AEC held in Bangkok this morning, TDRI Chairman Somkiat Tangkitvanich said Thai industrialists had to expand their perspectives to the regional level. He urged them to consider ASEAN as both markets and production bases.

He also said that Thai businessmen were expanding their operations to neighboring countries and their businesses were either wholly owned enterprises or joint-ventures using local manufacturers’ services.

The TDRI chairman commented that there were challenges in ASEAN connectivity including import tariffs especially in relation to Cambodia, Laos, Myanmar and Vietnam, certificates of origin, the readiness of border checkpoints and corruption among border checkpoint staff.

Vasin Vanichvoranun, executive vice president of Kasikornbank, said Thailand’s competitiveness ranks 37th among 148 countries, a position showing moderate competitive capacity.

He said Thailand lagged behind several Southeast Asian countries and many other nations which an edge for their innovation.

Mr Vasin urged Thailand to improve the efficiency of its workers, technological readiness, finance and its capabilities of education and advanced training.