EXECUTIVES of major Thai companies with a
presence in other Asean countries yesterday shared their views and the lessons
they have learned from doing business in the region.
Banpu
director Chanin Vongkusolkit said companies must carefully study the investment
rules of Asean countries.
If
possible, they should seek collaboration with big Thai companies in the markets
they want to operate in, he said. They should also seek ways to contribute to
the communities they will locate to.
Chanin
made these observations at a "Thailand Overseas Investment Forum"
co-hosted by the Board of Investment (BOI) and consulting firm Bolliger &
Company (Thailand).
Indonesia
is the main overseas revenue contributor to Banpu.
Roongchat
Boonyarat, executive director of juice and canned-fruit producer Malee Group,
said picking the right partner was one key to success.
She said
that when selecting a foreign business partner, a company must find out a lot
about it first, such as its ethics and its ways of doing businesses. Malee puts
great weight on these factors when considering a partnership.
She added
that companies should not set up businesses overseas for the sole purpose of
saving export costs to those markets.
They
might find later that the raw materials in those countries are costlier than in
Thailand.
Malee
made its first move into the Asean market last year by establishing a joint
venture with Monde Nissin Corporation of the Philippines to offer its product
lines to Filipino consumers.
Malee has
been responsible for product development and manufacturing, which are its key
strengths, while Monde Nissin has handled marketing, sales, distribution and
logistics in the Philippines.
Roongchat
said many Filipinos were open-minded about trying foreign products.
Sompop
Mongkolpitaksuk, chief operating officer of Charoen Pokphand Foods, said
Myanmar, Cambodia, Laos and the Philippines were the rising-star markets,
thanks to their rising purchasing power.
Myanmar,
Cambodia and Laos still need investment to upgrade their production of
agricultural products to cater to rising demand for local consumers and for
export.
If Thai
companies are ready to enter this agricultural business arena, they should do
so now. If they are too late, they will lose the opportunity to Chinese
companies, Sompop warned.
Before
entering those three countries, companies should make sure they have their own
innovations and technologies to ensure their cost competitiveness, and ensure
they have management with the skills to grow their businesses there.
Meanwhile,
the BOI plans to open offices in Yangon and Hanoi next year and one in Jakarta
in 2018.
Sirivish
Toomgum
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