Issue 52

 

 

Established in 1976, the Joint Foreign Chambers of Commerce in Thailand (JFCCT) is where 33 chambers of commerce and business associations join forces to increase the ease of doing business in Thailand.

“Our mission is to promote trade and investment in Thailand,” says Stanley Kang, chairman of the JFCCT. “We are also working closely with the Thai private sector to assist Thai businesses expand to foreign countries.”

According to Kang, the JFCCT works with the Royal Thai government and various government agencies from the Board of Trade, Board of Investment to the Federation of Thai Industries to offer advice and offer recommendations to foreign governments for the benefit of the Thai economy.

“If the Thai economy benefits and grows, so too will all those who are part of it,” adds Kang.

With over 90,000 members, the JFCCT hosts meetings for various committees, such as Education & Skills, Employment, ICT, International Trade, SMEs and Tourism to develop initiatives to promote trade. The various committees work with various chambers of commerce and embassies to discuss free trade agreements and other trade negotiations, to develop workforce skills in technology, software, hardware and FinTech (financial technology), to advise on policies for inbound and outbound tourism, and to pursue vocational training initiatives.

“One of our latest missions for the SME Committee was to connect between the startup network in Taiwan and those in Thailand,” said Kang. “In Thailand, over 90% of businesses are SMEs, and our committees work to make sure that the competitiveness of SMEs in Thailand is sustainable. We hope to see Thailand become a more open society and believe that we will be able to attract more talent and business opportunities.”

With the opening of the ASEAN Economic Community (AEC), Kang sees a chance for the ten countries to become stronger together by gaining more negotiating power on international platforms. Additionally, the region has the potential to become an important magnet for foreign investment.

Kang adds that in the near future there will be greater competition within the AEC.

“This is a good opportunity for Thailand to make more friends, help neighbouring countries and gain more negotiation power as part of the AEC,” he says. “Thailand also has soft power, where influence and culture are both important.”

He believes that many Thai sectors have the opportunity for sustained growth. “The strength of Thailand is that there is no superstar industry; they are very well-balanced,” he says. “Thailand is very beautiful and you can invest in anything.”

Over the forthcoming years the JFCCT will continue to give its advice to the Thai government.

“We’re committed to being a part of Thailand and will continue to keep an open dialogue with government agencies, working together to make a better future,” says Kang.

Words by Pimsirinuch Borsub