Foreign investors still have confidence in Thailand but there is a need to strengthen hospitality in regard to foreign businesses and tourists already here, as the latter in particular would be able to spread the word about the country when they return ho
Yeap Swee Chuan, president of the Malaysian-Thai Chamber of Commerce and president of AAPICO Hitech, said he currently felt safe about doing business in the Kingdom.
He said he believed in Thailand’s resilience since in every crisis in the past, the country had always been able to come back stronger and faster than anyone had expected.
“Thailand is very resilient. If the country goes down by 10 per cent, in my experience it will come back 15 per cent. If it goes down by 50 per cent, it will come back 75 per cent and, if it goes down by 100 per cent, it will rise 150 per cent. The bigger the problem, the faster they challenge the problem,” he added.
Chuan said he had absolute confidence that Thailand would continue to lead the automotive sector in the region – and more widely across Asia – because of its infrastructure, the quality of local parts manufacturing, and its ability to meet the global standard in almost every part of the manufacturing process.
He also said he had not heard that any foreign automobile operators would move their operations elsewhere, since auto industries here still attract manufacturers that want to use the country’s infrastructure to make their products for export.
Regarding tourism, Brian Sinclair-Thompson, vice chairman of the JFCCT and president of the Board of Airline Representatives, said the decline in tourism had begun well before the military coup due to the prolonged political situation.
He believes that the job Thailand had both before the coup and now is one of recovery and restoring the confidence of tourists.
He said there was an urgent need to address the negative tourism picture by ensuring that those international tourists and foreign businesses already here are well looked after.
Tourists in particular are the ones currently enjoying Thailand’s hospitality – and it is they who will go back to their home countries and help promote the Kingdom by telling others of their experiences here, he added.