Page 7 - ELITE PLUS MAGAZINE VOL5
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Private companies, government offices and academic institutes have been debating the opportunities and challenges of the ASEAN Economic Community (AEC) for years. Indeed, the community would have already launched at the start of this year had it not been pushed back to December 31 by unprepared member states.
The AEC will ease some of the restrictions on regional trade and make movements across borders easier for capital and professionals in various sectors, with the intended benefit of spurring growth ASEAN-wide. It is too late to ask if Thailand is ready or not; the more relevant question is what Thai companies and the government need to do now.
It is too late to ask if Thailand is ready for the AEC; the more relevant question is what Thai companies and the government need to do now
According to Boonkiet Chokwatana, president and executive chairman of ICC International PCL, a distributor of consumer products under the Saha Group, Thailand has to improve innovation and resourcefulness in order to keep up. He sat down with Elite+ for an exclusive interview on a variety of business topics.
“Real estate is the most prepared sector for the AEC,” Mr Boonkiet said. “Some companies have been buying property in Thailand and neighbouring
countries to gain an advantage.” Hotel construction projects are being stepped up to receive more tourists expected to use Thailand as a transit hub for travel in the region. Foreign demand for condominiums is increasing. And Thai companies have invested in property development businesses abroad. Major hotels in Myanmar and Cambodia are being developed through Thai investment. Vikrom Kromdis of Amata Group developed an industrial estate in
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