Kriengsak Tantiphipop, Siam Paragon Development's managing director, revealed the group's strategic ambition of creating a shopping street along Sukhumvit, Phloenchit and Rama I roads by integrating the flopped Bangkok Fashion City project initiated by the ex-government with its own goal of a Bangkok International Fashion Week.

The budget will be Bt30-40 million per year, he said.

Four shopping malls will join hands for the project: Siam Centre, Siam Discovery, Siam Paragon and the Emporium Shopping Complex, along with Media Enterprise, a sister company of the Nation Multimedia Group.

"Bangkok Fashion City was a good project and I'd like to see it continue," Kriengsak said.

"It was a complete strategy to build human resources, the city and the business all in one. It was tough, and took time and cooperation, and also required a huge investment. It was not easy to conceive and execute so soon."

In the fashion cluster, textiles, leather goods, and jewellery industries will be promoted. Together, they make billions of baht in exports every year.

"Once the World Trade Organisation deal is signed, I'm afraid for the fashion industry's future," Kriengsak noted.

 "In the world of fashion, without brands to enhance value creation index, the competition gets tougher. The risk is not merely being unable to compete with international brands, but also for Thai brands being unable to take larger volumes because of higher investment on materials, and unskilled labour."

"For us, the fashion city has already been awakened since the Bangkok Fashion Extravaganza parade in 2004. To further contribute to the Bt1.8 billion we spent on the Bangkok Fashion City project, we must emphasise more confidence in our local brands and the country's image," he added.

"As far as distributor and shopping outlets are concerned, think about Hong Kong and Singapore. Why do people say these two countries are developed? Their country image is built from trade and shopping index, the shoppers and tourists.

"In the downtown areas of both countries, shopping is the main business. Thailand has such a high potential to be successful but somehow we are not quite there yet," the executive commented.

Amid government dithering over the future of the fashion project, the private sector, like Siam Paragon Development, see the hosting of the Bangkok International Fashion Week as the key to the industry.

"Fashion week is not all about fashion shows, but the introduction and showcasing of talented Thai designers, local brands, and the trade. We have many glamorous shopping malls with international super brands, which have partially upgraded Thai brands in the stores," he said.

Kriengsak added he understood the government and the private sector had the same vision to develop the country - but they just had different priorities. Hence, they would both like to do what they can in their own way.

Kupluthai Pungkanon

The Nation