American Companies Here Bullish On Thailand

[george]

AmCham bullish on Thailand

BANGKOK: -- The Thai economy will continue to perform positively this year according to 90 per cent of respondents in a recent survey of American Chamber of Commerce Thailand members.

Six Asean American chambers participated in the third AmCham Outlook, an annual business confidence survey of chamber members in the region.

“The outlook for Thailand continues to be bullish among AmCham Thailand members,” the chamber’s president Tab Cuddyre said.

“US companies see investing in Thailand as being profitable,” Cuddyre said.

According to the survey, 76 per cent of the members expect profits to increase this year, up from 56 per cent in 2003.

Seventy-eight per cent of Thailand members expect their businesses to expand during 2004.

Potential for growth in the Thai market is the single largest reason they gave for that expansion. More than 80 per cent indicated they would expand in Thailand.

Expansion plans for Thailand increased from 2003, whereas those for China, Vietnam and India fell.

Only 9 per cent of members said they had planned business reductions or closures here, a significant drop from the 26 per cent in 2003.

Continuing the trend, 63 per cent of members said they expected to hire more workers, up from 42 per cent a year ago.

“AmCham members appear to be satisfied with their investment opportunities in Thailand. Corruption, protectionism, customs, personal security and the tax structure are still issues, but there is improvement over last year,” Cuddyre said.

Chamber members indicated a trend towards more satisfaction when asked to rate their satisfaction with factors that could affect their business in Thailand.

The availability of trained personnel emerged as a significant area of strength for 2004, with up to 54 per cent of members expressing satisfaction, up from 21 per cent in 2003.

Other factors that have improved from 2003 included personal security, labour costs, housing costs and raw materials, the survey said.

Concerns about corruption showed a major drop from last year, down to 62 per cent from 86 per cent in 2003. Members said they were not happy with laws and regulations and tax structures.

Immigration procedures are bringing increased joy along with the Board of Investment and the Central Bank, which top the list of government agencies members are satisfied with.

Customs and the Revenue Department were highlighted as areas that need improvement.

AmCham Thailand represents the American business community, which stands for US$21 billion (Bt851 billion) in investment.

--The Nation 2004-07-08

[Jeff1]

How do I get a list of these company's ?

I would like to work for one.