Issue 56

Austrian investors are looking forward to investing in Thailand as a gateway to the wider ASEAN region.

In 2015, exports from Thailand to Austria were worth 560 million euros, with 280 million euros passing the other way. Now, Austria is keen to attract new business partners in Thailand and across the region. Its Federal Economic Chamber, known as ‘Advantage Austria’, operates more than 110 offices in around 80 countries providing intelligence and business development services for both Austrian companies and their international business partners. One of its offices is in Thailand.

Gunther Sucher, commercial counsellor at the Austrian Embassy and representative of Advantage Austria in Thailand, has served in Colombia, Hong Kong, Hungary and Ireland before coming to Bangkok.

“The organisation offers market research and market entry support, identifying concrete business partners and arranging b2b meetings,” says Sucher. “We organise trade events, business missions and Austrian stands at trade fairs in Bangkok. We also assist Austrian importers to source products from Thailand.”

Sucher reveals that 90% of Austrian exports to Thailand are industrial goods, mainly in special purpose machinery, environmental technology, paper products and chemicals. The country is also well-known for its high quality food and drink, including wine.

“Thai exports to Austria are mostly vehicles, auto parts, electronics, leather, textiles, glass products and jewelry, especially Swarovski jewelry,” he says.

Swarovski is a major Austrian investor in Thailand with several factories in the country employing approximately 10,000 workers. Another is Voestalpine Railway Systems. “They will start producing railway turnouts in Thailand in autumn this year and deliver to the whole region, reflecting the high potential of railway construction in the ASEAN market,” says Sucher.

The Thai-Austrian Technical College in Sattahip, established with Austrian support almost 50 years ago, is another fine example of the excellent cooperation between the two countries. The college offers specialised courses, including railway maintenance, an area in which Austria has great experience.

This year, besides holding special wine tastings, Advantage Austria will organise sector-specific trade events in security and disaster prevention. Next year it will focus on engineering, and, in 2018, medical technology.

According to Sucher, the CLMVT region (Cambodia, Laos, Myanmar and Vietnam and Thailand) can create mutual benefits if it works together, especially in terms of the exchange of skilled labour. As for Thailand, it should build upon its strategic advantages.

“Thailand’s strengths are that it has a well-developed infrastructure and its geographic location offers both excellent sea and air connections,” he says, adding that it is for these reasons that more Austrian companies are considering setting up business in Thailand. “Austrians evaluate the future development in Thailand as being positive and stable, there are some new big investments at the moment, which prove that we trust in the future of Thailand.”

For more information, visit www.advantageaustria.org/th

Words by Pimsirinuch Borsub