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Economy Thrives Amid Political Challenges World Eye Reports World Eye Reports Thailand ISSNISSN 0289-1956 0289-1956 114114THTH YEAR YEAR NO. NO. 39,920 39,920 ©THE©THE JAPAN JAPAN TIMES, TIMES, LTD., LTD., 2010 2010 Saturday,Saturday, JuneJune 26, 26, 20102010 明治30年3月22日第3種郵便物認可 B1B1 Economy thrives amid political challenges eBOX The Bank of Thailand implements monetary policies that ensure lthough the domestic un- ity education and state-of-the-art the stability of the Thai economy and safeguard it against external rest in Thailand has domi- medical care (which even employ shocks. Led by Tarisa Watanagase, the central bank has kept key nated the news around the Japanese translators). The Thai lending rates low to encourage economic growth at a time when A the economy has just started to recover from its worst recession. world, the country can still look people are very hospitable,” says forward to positive growth due to Japanese Ambassador Kyoji Ko- www.bot.or.th its prudent economic policies and machi. well-supported industries. “Japan’s new growth strategy The Thai–Japanese Association was formed in 1935 to promote While the capital Bangkok may advocates the Free Trade Area of better relations between the two nations. Currently, it has 200 mem- have suffered from the politi- the Asia Pacific by 2020, wherein bers made up of local and Japanese companies and individuals. It cal standoff, in other parts of the ASEAN plays a very important organizes economic and social activities aimed at fostering closer country, it is business as usual. role. Japan has invested so much friendship between the two countries. www.thai-japanasso.or.th Thailand boasts among the in Thailand. And Thailand is like- world’s strongest electronics, au- ly to be Japan’s biggest investment The Technology Promotion Association, established in 1973 by tomotive, petroleum, agriculture recipient in Asia,” Komachi adds. Japanese alumni and Japan-trained Thai professionals, provides and tourism sectors and benefits With more than 1,300 Japanese various services ranging from management seminars and training from an abundant supply of rice, BANK OF THAILAND companies in Thailand that em- to lending expertise in producing academic journals on technology sugar, rubber, tungsten and tin. Bank of Thailand Gov. Tarisa ploy more than half a million local and quality. www.tpa.or.th Last year, the country emerged Watanagase workers, the country possesses the largely unscathed from the global percent), after China and the U.S. right conditions for increased in- Thai National Shippers’ Council, which celebrates its 15th an- financial downturn and generated “Japan and Thailand enjoy vestment from Japan. niversary this year, was set up to promote the Thai shipping indus- a gross domestic product (GDP) of one of the oldest relationships in “There is a huge concentration try and increase the efficiency and global competitiveness of the $538.6 billion thanks to its robust Asia. We have had 123 years of of Japanese businesses here and country’s ocean transportation industry. It also advises interested trade with all its Asian neighbors, good diplomatic relations and it the infrastructure is already well small- and medium-size Thai exporters on matters pertaining to including Japan, its top trading has been 600 years since the two paved for the Japanese. There are shipping costs and logistics. www.tnsc.com partner. countries first had contact. Thai- many opportunities for Japanese Thailand is the third-largest land can offer all the needs of the businessmen in this country,” the WER The Thai Bankers’ Association, set up in 1958, brings together exporter of goods to Japan (at 10 Japanese people: good food, qual- ambassador explains. Following the political turmoil that damaged parts of Bangkok, the government has shown a strong commitment the country’s top domestic banks and leads collaboration with the to rebuild the city and revive the tourism industry that generates millions of dollars in revenue. country’s economic agencies to promote the interests of the do- mestic banking industry. The TBA also facilitates information ex- Aside from tensions in the po- among them the fallout from the highest court suspended 65 large- change among member banks as a way to raise productivity and litical sphere, Thailand faced so-called Map Ta Phut Case. scale industrial projects in the competitiveness in the sector. www.tba.or.th other serious challenges this year, Last December, the country’s high-capacity port of Map Ta CONTINUED ON PAGE B2 IRPC builds hope for ‘greener’ Thailand RPC, the only fully integrated re- The Phoenix project is focused on in- growth and expansion of investments fining and petrochemical complex vestments in 19 projects that will start and developing specialty- grade prod- Iin Thailand, has seen many changes operations between now and 2014 and ucts for added value. under the leadership of recently ap- is expected to enhance the economic “IRPC has a lot of land. With the pointed President Dr. Pailin Chuchot- value of the company and further in- government’s approval, we started an taworn. crease returns of investment. eco-industrial estate earlier this year As a leading producer of petrochem- This year, IRPC’s initiatives are fo- and we are developing another one in icals (specifically olefins, aromatics, cused on reaching operational excel- Rayong. We are looking for partners polymers, polyols and acetylene carbon lence, increasing production efficiency with expertise to help us maximize the black), IRPC’s activities also include and energy conservation, achieving op- development of this land,” Pailin says. services in petroleum, infrastructure, timum returns in production and sales As one of the largest petrochemical product refining, as well as in-port and and increasing inventory management companies in the country, IRPC was asset management. efficiency. not immune to the global financial “Our vision is to become the top- And from 2011 to 2014, the Phoenix crisis last year. But it successfully sur- quartile integrated petrochemical com- project will involve investing in utiliza- mounted the downturn by implement- plex in Asia by 2014. We have a five- tion and growth of existing businesses, ing a strategy that focused on custom- year plan called Phoenix wherein we developing deep-sea ports for commer- ers, cash, credit, cost reduction and revamped our company’s mission and cial use, increasing operating returns speed. corporate culture. Since I took over the for raw materials, finished goods and “In today’s high-tech world, speed is reins in January 2009, we’ve changed storage tanks and developing vacant very important. IRPC continues to be how we do business and we started no land to achieve the highest benefit and a forerunner in technology. Our clients less than 19 new initiatives,” Pailin ex- utilization. were able to trade over $6 million via plains. From 2015 onward, it will focus on CONTINUED ON PAGE B2 ‘As a petrochemical company, IRPC remains focused on its green initiatives and environmental responsibility.... Our company was able to reduce our carbon emissions by 400,000 tons last year.’ IRPC IRPC President Dr. Pailin Chuchottaworn Daikin enjoys 20 years Kulthorn Kirby stays of success in Thailand ahead of the competition stablished in 1990 as a production facility for room air condition- ncouraged by a government ers and later expanding to package air conditioners, Daikin Indus- program in 1977 to lessen Etries Thailand (DIT) has become one of the leading air condition- Edependence on imported ing manufacturers in the country over the last two decades by providing goods and develop a wide range of products that meet the homegrown industries, Thai busi- various needs of its cli- nessman Sumeth Simakulthorn ents. formed partnerships with Austra- “DIT has an extensive lia’s James N. Kirby and other ap- and diverse range of pliance manufacturers three years products developed with later that consequently made his our customers’ needs in company a leading producer of mind. Daikin’s technol- compressors. ogy can be found in a Since then, Kulthorn Kirby’s wide range of environ- founder and chairman has formed ments, from stores and other joint ventures that have offices to homes and brought world-class technology hotels,” says President to the country and made Thailand Satoru Kadoya. among the largest manufacturers “We have just manu- of compressors. factured our 10 mil- Among its partnerships is with lionth unit (both indoor Tecumseh, a leading U.S. manu- and outdoor units) here facturer of hermetic compressors in Thailand,” adds Ka- for refrigeration and air condition- KULTHORN KIRBY doya. ing products. Kulthorn Kirby Founder and Having reached those Its other joint ventures include Chairman Sumeth Simakulthorn major milestones, DIT Thai Compressor Manufacturing Industries, and Kulthorn Premier looks to the future with or THACOM (with Mitsubishi (with Premier Group), which pro- WER a new set of objectives, Heavy Industries of Japan), which duces reciprocating compressors Daikin Industries Thailand President Satoru which include greener produces rotary compressors un- under license from Sanyo of Ja- Kadoya CONTINUED ON PAGE B2 der license from Mitsubishi Heavy CONTINUED ON PAGE B2 Researched and written by Melissa Tinitigan and Robert Kerwin in Bangkok. Produced by World Eye Reports. If you would like further information, including annual reports, from any of the companies featured in this business supplement, please send an e-mail message to [email protected] indicating your name, mailing address and specifi c information requested. We will make sure that the companies concerned get your requests and comments. PAGE:PAGE: 11 B2 THE JAPAN TIMES SATURDAY, JUNE 26, 2010 Special Economic Reports (1) 第３種郵便物認可 www.worldeyereports.com Thailand Thailand www.worldeyereports.com Economy thrives amid political challenges CONTINUED FROM PAGE B1 Mektec finds the perfect partner Betagro exports a taste of Phut due to their failure to complete environ- tomed out in the first quarter of 2009 and Ricoh does it right mental and health impact assessments before recovery has been quite solid in 2010.
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