Issue 64

Thai entrepreneurs are encouraged to turn to Cuba for trade and investment opportunities, DITP General-Director Malee Choklumlerd said on March 2.

According to the Thai Trade Centre in Miami, Cuba is seeking to import various types of agricultural and industrial products to meet the needs of its expanding economy. It also requires capital and technology worth approximately US$3.5 billion from foreign investors to support the country’s development.

“There are investment opportunities for Thai entrepreneurs such as tourism-related products and services, hospitals and rehabilitation centres,” Thai Trade Centre, Miami Director Nithima Siriphokakij said. “Products such as construction and agricultural machinery, construction materials and automobile parts are all much sought after in Cuba.”

Siriphokakij advised Thai entrepreneurs to join major trade fairs in Cuba such as the Feria Internacional De La Habana (FIHAV) to promote Thai products and search for business partners. This year, FIHAV will be held from October 30 to November 2 in Havana.

Issue 64

DITP and other government agencies, together with several private companies jointly organised the Bangkok International Digital Content Festival 2017 (BIDC 2017) to showcase the work of leading Thai digital companies from March 20 to 24 at Centara Grand at Central World Hotel, Bangkok.

Event highlights included seminars, workshops, the BIDC Awards and business matching activities for Thai businesses and companies from the US, Canada, the UK, France, New Zealand, Japan, South Korea, China, Singapore and Malaysia.

The event is expected to generate more than US$24 million (850 million baht) in business deals.

Issue 64

Data from the DITP’s AEC Business Support Centre shows that Thai entrepreneurs are especially interested in expanding their business into ASEAN countries, DITP Director-General Malee Choklumlerd said on March 23.

In the 2016 fiscal year, 6,611 Thai entrepreneurs contacted various AEC Business Support Centres for information regarding trade and investment opportunities in ASEAN countries.

Established in May 2013, the AEC Business Support Centre has nine branches in Thailand and one in each of eight other ASEAN countries (except Brunei). Staff have assisted almost 30,000 Thai entrepreneurs, a figure that is expected to rise to 35,000 by the end of 2017.

The centres provide in-depth information on trade and investment, offer consulting services, coordinate and organise business matching activities, and provide support and facilitation for Thai businesspeople in ASEAN countries.

Issue 64

The Thai Trade Centre in Seoul has signed a Memorandum of Understanding (MoU) with Homeplus, the second largest hypermarket in South Korea, to organise an event to promote Thai agricultural and food products in 142 Homeplus branches from March 1 to 31.

The products included chilled and frozen shrimps, baby octopus and Namdokmai mango.

“We received an overwhelming response from Korean consumers,” DITP Director-General Malee Choklumlerd said. “The event is expected to generate sales worth approximately US$540,000 (19 million baht) for chilled and frozen shrimp, US$ 210,000 (7.6 million baht) for baby octopus and US$171,000 (6 million baht) for Namdokmai mango.”

Issue 64

The DITP held a seminar entitled Cambodia Connect: A New Business Opportunity 4.0 at Bangkok Chada Hotel on March 20.

The purpose of the seminar was to enhance the competitiveness of Thai entrepreneurs and encourage them to expand into the potentially lucrative CLMV (Cambodia, Laos, Myanmar and Vietnam) market.

“Cambodia requires all kinds of consumer products and is developing its basic infrastructure, therefore, it is a great opportunity for Thai entrepreneurs to expand their business and invest in cities like Phnom Penh, Siem Reap and Sihanoukville,” said DITP Assistant Director-General Matyawongse Amatyakul.

Issue 64

The DITP brought delegates from Thailand’s game and animation industry to join in the first Thailand-Canada Game Industry Partnership event, held in Vancouver, Canada on March 10.

Thirty Canadian businesspeople from British Columbia met with Thai delegates from four companies including Magic Box Asia, Infinity Levels Studio, Sanook Games and Yggdrazil Group.

“Thailand’s game industry is growing rapidly and is attracting increased interest from foreign investors. We received positive feedback at the event and hope it will lead to increased business between the two countries later,” said DITP Director-General Malee Choklumlerd.

Thailand’s game industry was worth US$254 million (8.89 billion baht) in 2015 and is estimated to grow by 13.5% in 2016 and 22.3% in 2017. The value of game exports amounted to approximately US$29 million (1.04 billion baht) in 2015.