Dear Friends and Members of the Stcc
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MAY 2015 | SWISS-THAI CHAMBER OF COMMERCE | E-NEWSLETTER #58 TOP NEWS SUPPORTED BY Deutsche Bank: Challenge to revive dormant demand DFDL: Geo-centric Thailand drives trade Interview: Martin Biedermann School News: Opening of the Rak Samong exhibition School News: Khlong Toey Charity Day THE PRESIDENT’S MESSAGE DEAR FRIENDS AND MEMBERS OF THE STCC Khun Prommin Kantiya, Direc- tor of the Accident Prevention Network asked the meaningful SERVICE question “Thai people should think about what we want and STCC CALENDAR how we want to promote the Thu, 14th May 2015: image of our country. Do we STCC Stamm at Amari Bou- want to be known as the hub of levard Hotel, 18:00, Special the water party with booze and Cheese-Fondue Event [on pri- high death toll? Or do we want or registration only], drop in to be known for a beautiful and late registration: “Zuerig- culture that no one else has?” schnetzeltes mit Roeschti” (source Bangkok Post 2014). Tue, 19th May 2015: SSB Hoeck at Grottino Res- BRUNO G. ODERMATT, PRESIDENT It is a fair question and when taurant, 18:00 you look at the carnage of the Firstly we wish all our mem- “seven dangerous days”, as this Sat, 23rd May 2015: bers and their families a Happy period is commonly called, the SSB Boat Trip Pattaya and Songkran and a blissful happy police generals are well aware Evening Dinner in Winecellar Thai New Year. As we are mov- of the situation and try their Pattaya (Guest at Dinner: HE ing into the hot season of this best to implement crackdowns Christine Schraner Burgener) year, the Songkran Festival, a against drunk driving, speeding Thu, 11th June 2015: really unique part of Thai tradi- and the like. Last year the death STCC Stamm at Amari Boule- tion, allows the people to cool toll of that period was 322, and vard Hotel, 18:00, Buffet as off whilst splashing each other this year it was 364, whereby usual with water and to spend time 3,225 people got insured last with their families and friends. year and 3,559 this year (source For above events please wait The traditional water pouring is Road Safety Directing Centre). for the invitation-mail or get a symbol of washing away all Different organization tracking it from www.swissthai.com, sins and bad luck, and the word road deaths produce slightly click on “events”. derives from Sanskrit meaning different fatality figures, but “passing” or “approaching”. most would agree that Thailand 1 MAY 2015 | SWISS-THAI CHAMBER OF COMMERCE | E-NEWSLETTER #58 THE PRESIDENT’S MESSAGE SUPPORTED BY is one of the worst countries for you consider that from Singa- fatalities on the road. The World pore’s independence in 1965 Health Organization places Lee Kuan Yew built up this Thailand fourth, with 38.1 road nation from a small mosquito fatalities per 100,000 citizens, infected trading post without right after Eritrea, Dominican any natural resources into an Republic and Libya, with total economic powerhouse, then death toll per year of 26,312 you have to pause and pay true (data from 2010, source WHO). respect. With only human cap- This works out to an average ital to work with, he needed to of 506 deaths per week, and build jobs to sustain the daily the true shocking conclusion is lives of people and expand the that this year’s Songkran Festi- economy beyond its port and val, believe it or not, was one trade. of the lesser deadly weeks on Thailand’s roads. Furthermore, Today Singapore has a GDP per 74% of all deaths are either capita of 55,182$ (source World drivers or passengers on mo- Bank), a world class education torcycles and it is obvious that system, the 2nd largest port in this segment of driversAdhesive should the world, & a Sealantpremium airline TechnologiesTRINA be targeted for massive traffic and 80% of citizens own their INTERNATIONAL education and compliance with own homes through their Hous- law enforcement rules. As long ing and Development Board. as road safety is not considered Of course, one can debate his a high item on the political one party rule, but his track agenda, we will be faced with record is hard to beat by any MS Hybrid Polymer further carnages in the future other politicians these days. I and this waste of human life am currently reading his latest best performing will become unbearable to so- book “one man’s view of the window, door ciety one day. world” and it is truly insight- ful to understand his thinking and facade On some sad news for Asia, on on Asian modelled democracies SERVICE 23 March the founding prime and the emerging role of Chi- sealant. minister of Singapore, Lee Kuan na as a world power, amongst MEMBER DETAIL Yew, passed away after a short others. He argues that West- SoutheastUPDATES Asia Link Co., Ltd. illness. I have heard of this vi- ern-styled democracies, such Dowww.seal-ast.com you have changes among sionary leader the first time in us the one man one vote sys- your delegatesT: 0 2732 or changes 2092 to my business school, and when tem, may not necessarily be the your e-mail, mobile, telephone, I passed through Singapore in right recipe for governments or fax numbers? the early seventies for the first in developing countries, sort Please send all updates to time, I understood the meaning of “one shirt fits all”. For many [email protected] of Singapore’s vision “Intelli- Thais he will be remembered for gent Island”. These were just his strong support to Thailand two simple words, but when during the conflict with Cam- 2 MAY 2015 | SWISS-THAI CHAMBER OF COMMERCE | E-NEWSLETTER #58 THE PRESIDENT’S MESSAGE bodia in the 1980s. A true gem The JFCCT met with the Chairman your business associates to use in this book are the extracts of of the Board of Trade (BOT) and this venue to interact with oth- his conversations with his old Thai Chamber of Commerce (TCC), er business minded people. This friend, former Chancellor of West Khun Isara Vongkusolkit, and his month we will have our yearly Germany, Helmut Schmidt, and it leadership team, to discuss the “STCC Fondue Stamm” and I can is enlightening to see how these economic outlook in Thailand assure you that this is always two elderly statesmen view the and the strategic initiatives of the highlight of our calendar of world. the BOT and TCC. On the agenda events. So do not miss it! was also an issue close to our On some local positive news, His hearts, mainly the ease of doing With the best wishes Majesty the King, endorsed a re- business and Thailand’s compet- quest of Prime Minister Prayut itiveness as an investment hub, Bruno G. Odermatt Chan—o-cha to revoke martial such as reprocess for work per- President law throughout the country. It mits and visas and the new in- is good news for the tourism vestment promotion strategy of *** sector, as tour operators will the BOI. According to the BOT, Contact the President: now be able to obtain travel Thailand has implemented 72% Bruno G. Odermatt insurance coverage and it lifts of the AEC blueprint and they President STCC the image of Thailand. The lift- feel positive about the efforts to [email protected] ing of martial law paved the way prepare Thailand for the AEC. It Tel: +66 2 652 1911 for the PM to Section 44 of the was an open discussion and we interim constitution, which the will update you on further devel- Prime Minister, as he said, would opments on our newsletter. use constructively and only se- Last but not least, our monthly lectively. It is definitely good Stamm, held every 2nd week of step forward. the month at the Amari Boule- vard, is just a great networking event and I encourage you and 3 MAY 2015 | SWISS-THAI CHAMBER OF COMMERCE | E-NEWSLETTER #58 ECONOMY REPORT BY DEUTSCHE BANK CHALLENGE TO REVIVE DORMANT DEMAND • Economic outlook: Thailand remains mostly sus- den, explaining their lack of Pace of recovery remains ane- pended in stagnation. Domestic response to stimulus measures mic, with little support from spending, whether stemming in the recent years. The high public spending, trade, and from households, businesses, debt level is a key complicat- private sector investment. or the public sector appears ing factor in BoT’s inflation and Tourism has however begun to to have flattened in recent growth objectives. pick up, and recent removal months. The agriculture sector of martial law should help im- has continued to face head- Ratings agencies continue to prove the flow of tourists fur- wind from declining rice and find the high household debt ther. The economy, especially rubber prices, pushing down figures a key risk to the banking the current account, continues farmers’ income and spending system in particular and overall to benefit from low oil prices. power. In the industrial sector, economy in general. Attempts weak exports demand contin- to revive the economy could be • Main risks: ues to dampen production. Of hampered if banks begin facing Despite the official removal of particular disappointment is asset quality issues and become martial law, the political situ- the investment environment, balance sheet constrained, ation remains tense and un- where despite attempts by the leading to tighter credit condi- certain. Rising household debt government to get large scale tions. and real interest rates have infrastructure spending going, made BoT’s task challenging. progress has been slow and pri- Bank of Thailand is also finding Failure to revive the investment vate sector interest limited.