On January 14 the past. The Embassy of the United States of America in Thailand held a forum “SelectUSA: Helping Thai Companies Go Global” by inviting the Thai private sector with a role in foreign investment to exchange views. And experience in doing business in the United States At the House of the US Ambassador to Thailand It is also open for viewing online discussions.
On this occasion, Mr. Boonchai Opas Iamlikhit Business President – USA Charoen Pokphand Group Join the discussion on “Case Studies of Global Expansion – Lessons Learned” to take the lessons of the expansion of the Thai private sector towards global investment. The panel was attended by Mr. Alok Lohia, Group Chief Executive Officer of Indorama Ventures Public Company Limited, Mr. Chartsiri Sophonpanich, President of Bangkok Bank Public Company Limited, Mr. Chanin Wongkusol. Kij Chairman of the Board of Directors of Banpu Public Company Limited Mr. Thiraphong Chansiri, Chief Executive Officer of Thai Union Group Public Company Limited, hosted by Mr. Michael George DeSombri, United States Ambassador to Thailand.
Mr. Michael said Many Thai businesses have expanded their investments abroad. And one of the key markets is the United States In which this event It is an invitation for Thai businesses that are successful, have a vision and play a global role. Attend a seminar to bring useful information of the Thai private sector to drive business on a global scale. As well as exchange views of the Thai businesses that have adapted to the post-COVID-19 situation To jointly develop businesses that go hand in hand with mutual sustainability With the expectation that it will seek out opportunities And hope together in this year 2021
Mr. Boonchai said that The number of investments of Thai businesses abroad from 2006 to 2019 increased continuously from US $ 16 billion to US $ 200 billion per year. This is a good sign for Thai companies to explore global business opportunities. The United States has many states with different rules and regulations. It is a matter that investors need to pay attention. Because it brings to the investment expansion effectively
Mr. Boonchai said From CP’s experience in diversifying investments in 23 countries around the world With more than 350,000 employees, it is important to analyze the necessary pre- and post-investment worldwide. The vision of the organization must be consistent with the expansion of investment in foreign businesses as well, the CP Group chose to invest in the United States for the main reasons: 1. The US is the country with the most GDP in the world and has resulted in a market World’s largest consumer 2. When looking at the food industry which is CP’s core business This is consistent with the Middle East areas of the US where corn is grown. And so much soy Which is the main raw material for CP food industry 3. The US has advanced technology. CP places emphasis on driving business using technology and is one of the corporate vision.
“CP has invested in the US by Charoen Pokphand Foods Public Company Limited or CPF to acquire 100% stake with 38 billion baht of Bellisio Fooding Company (Bellisio), the leading The largest and fastest growing ready-to-eat food production in the United States in 2016 to support the growing global frozen food trend. It is a significant investment for CP. And is one of the goals of Kitchen of The World that CP Group Senior President, Thanin Chearavanont announced since the year 1999 ″ President of Business – USA, CP Group
Mr. Boonchai said In addition to acquisitions CP also created two new businesses in Texas and Florida. The CP’s business model in the United States focuses on understanding the American way. Understand behavior American attitude and culture In order to understand the American business. Like in the case of Bellicio CP employs a total of 2,000 American nationals, of which only 5 Thai people. Once we have a deeper understanding of the American way, The team will be able to help us build a new business or Greenfield Business.
“CP’s overseas investment model has been adapted from prior experience in Thailand. By expanding the business to grow, then accelerate the speed to achieve rapid and efficient market expansion. By adhering to the philosophy of 3 benefits, namely, to create benefits for the country in which we do business The next step is to benefit the people of that country. And finally, it is beneficial to the organization, ”said Boonchai.
Mr. Chartsiri said Bangkok Bank understands the rules for investing in the United States. And there are many bank customers who want to invest in the US. Especially technology-related businesses, although the investment rules in the US are complex. Which Bangkok Bank Has closely monitored and studied thus giving us an understanding of the context behind various rules And able to explain to those interested in investing in the United States have the correct understanding to build confidence in investing as well.
While Mr. Chanin said Banpu Company has established a model for investing in the United States, starting with small steps. By focusing on building relationships and engagement with stakeholders at the community level to build confidence in the organization. As a result, investors and local governments in the states in which we invest gain confidence in the organization and open to companies to invest, with strong support from both financial institutions and US local governments.
Mr. Teeraphong said that The US has a very large trading market. In view of business expansion, it is a country that should not be overlooked. It was the first choice of TUF with the overturning of the Local Partnership at that time, which was bankrupt. We decided to acquire and manage. From experience, the US is a very competitive market, so players have to be strong and have the potential to survive in the market, with TUF building a competitive advantage in low-cost manufacturing. Which is our main strength
Mr. Al-Lok said Indorama Ventures Company It has expanded its acquisitions in the US in many ways. This underscores the continued development of companies looking to invest in the United States, along with research and development. This acquisition will enable us to enter a niche market around the world. And industries that meet consumer needs The company sees expanding investments in the US and other countries as an opportunity for supply chain integration that will also reduce corporate expenses.
In addition, some interesting perspectives from the participants were presented by Dr. Sethaput Suthiwatnaruput. The governor of the Bank of Thailand said that the investment of Thai businesses abroad has grown rapidly in the past 15 years, where foreign investment regulations have become more flexible. Allowing Thai private companies to continue to expand their investment in the United States. Especially in large private sector groups Which he sees as an important thing that the large private sector needs to do Especially this year, to lead the turbocharged and small businesses in Thailand to grow in line with investment expansion.
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