Expansion Management

US Companies Optimistic About Doing Business in Thailand

Sept. 12, 2014

Business expansion remains high with 62% of the respondents saying they expect their companies in Thailand to expand, a dip since last year’s 75%, but the profit outlook remains strong with 82% expecting increased profits.

Adrienne Selko

As 2015 and the establishment of the ASEAN Economic Community (AEC) approaches, U.S. companies are keeping an eye on opportunities offered by the regional economic integration.

Most respondents to a survey, released late last month by the U.S. Chamber of Commerce and the American Chambers of Commerce in ASEAN member countries, don’t believe that the goals of the AEC will be reached until 2020 or later. However, three quarters of the respondents in Thailand indicate that their company’s level of trade and investment in ASEAN has increased in the past two years.

The survey indicates that even more expect this trend to continue in the next five years.

Overall, 78% of business executives based in Thailand regard ASEAN integration as important to helping their companies do business in the region.

“Thailand’s economic fundamentals are strong and our members report that it’s ‘business as usual’ for them and they are going forward with their expansion plans,” said Darren Buckley, president of AMCHAM’s Board of Governors, attending the ASEAN Economic Ministers Meeting held on August 25 in Nay Pyi Taw, Myanmar.

“As the political situation stabilizes, businesses are experiencing higher degrees of optimism and foreign investors’ confidence return," Buckley added.

Adrienne Selko | Senior Editor

Focus: Workforce, Talent

Follow Me on Twitter: @ASelkoIW

Bio: Adrienne Selko has written about many topics over the 17 years she has been with the publication and currently focuses on workforce development strategies. Previously Adrienne was in corporate communications at a medical manufacturing company as well as a large regional bank. She is the author of Do I Have to Wear Garlic Around My Neck? which made the Cleveland Plain Dealer's best sellers list. She is also a senior editor at Material Handling & Logistics and EHS Today.

Editorial mission statement: Manufacturing is the enviable position of creating products, processes and policies that solve the world’s problems. When the industry stepped up to manufacture what was necessary to combat the pandemic, it revealed its true nature. My goal is to showcase the sector’s ability to address a broad range of workforce issues including technology, training, diversity & inclusion, with a goal of enticing future generations to join this amazing sector.

Why I find manufacturing interesting: On my first day working for a company that made medical equipment such as MRIs, I toured the plant floor. On every wall was a photo of a person, mostly children. I asked my supervisor why this was the case and he said that the work we do at this company has saved these people’s lives. “We never forget how important our work is and everyone’s contribution to that.” From that moment on I was hooked on manufacturing.

I have talked with many people in this field who have transformed their own career development to assist others. For example, companies are hiring those with disabilities, those previously incarcerated and other talent pools that have been underutilized. I have talked with leaders who have brought out the best in their workforce, as well as employees doing their best work while doing good for the world.