Page 56 - ELITE PLUS MAGAZINE VOL4

DIPLOMATIC AFFAIRS‘There is potential for Thailand in renewable energy and electronics. There is a successful Thai-German SME partnership in solar energy’housewives, are well integrated into German society. There can be a big culture gap when they emigrate from Thailand to Germany, and some are not able to adjust. So we work through a network of Thai women’s organisations as well as some Thai volunteers to provide some skills training and consulting services for various Thai communities in Germany.Is there room for Thai businesses to grow in Germany?Absolutely. Germany still has a strong economy compared to other countries in the EU. Thai business owners should look for opportunities to invest on different continents. Beyond ASEAN and Asia, Germany is one of the locations with the greatest potential. In particular, if they partner54 Elite+with German businesses they will have access to some incentives and loans. Investment in Germany can also mean benefiting from local innovative technology and know-how. Employment might be costly due to high wages and strong labour laws, but there are still a number of successful Thai businesses investing in Germany. Some do not employ many workers and focus on the high-technology sector.What types of businesses might thrive in Germany?There is potential for Thailand in renewable energy and electronics. There is a successful Thai-German SME partnership in solar energy. So a business can start in a partnership with a local company. Later when you learnmore about the market you can figure out what to invest in. The benefit is not only the strong market in Germany but also access to markets all over Europe. When you export your products from Germany, they will be stamped “Made in Germany”. The issue of trust in quality is important for European consumers. It’s better to think of new things rather than only rely on exports, which will always go up and down depending on economic conditions, market sentiment or competition from other suppliers in Asia. But if you locate your investment in Germany or nearby and focus on the European market, that could be a good strategy for the future.Is there a particular location Thai businesses should look to invest in?