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SURVEY
PwC's CEO survey ranks Thailand No 4
Sasithorn Ongdee
The Nation

BANGKOK: -- Thailand is ranked fourth this year, up from sixth in 2014, among the countries best positioned for economic growth over the next 12 months, according to the latest survey of chief executive officers conducted by PricewaterhouseCoopers. The survey excluded the BRICs, comprising Brazil, Russia, India and China.

"Thailand's ranking rose thanks to the sound fundamentals of Thai listed companies, the baht's stability and a low inflation and interest-rate environment," said Sira Intarakumthornchai, CEO of PwC Thailand.

He added that personally he thought it was because Thailand looked relatively good in the region, buoyed by the prospect of opportunities of the upcoming Asean Economic Community, which will be fully implemented by the end of this year. Thailand has an advantage in that it is located at the centre of the region.

Sira said Indonesia and Mexico remained first and second for the second year in a row, while Vietnam moved up to the sixth from seventh last year.

PwC Thailand, part of the world's biggest network of corporate audit, tax and consulting firms, yesterday revealed the findings of PwC's 18th annual global CEO survey, titled "A Marketplace without Boundaries? Responding to Disruption".

The survey was conducted between September and December 2014, and covered 1,322 CEOs and industry leaders in 77 countries, including interviews with leading companies in Asean nations, such as Singapore, Thailand, Vietnam, Indonesia, Malaysia and the Philippines.

Sira said Asean CEOs were more upbeat than their global counterparts on the economy and corporate revenues this year though there were concerns over geopolitical uncertainty, tax burdens, and over-regulation.

According to the survey, only 37 per cent of executives worldwide believed that global economic growth would improve this year. Even worse, 17 per cent of the CEOs expected world economic growth to slow further this year.

In Asean, 49 per cent of the CEOs suveyed were more optimistic that the global economy would recover in the next 12 months, said Sira, adding that 47 per cent were confident about revenue growth during that period. Some 71 per cent believed in the growth prospect of their businesses over the next three years.

Sira said Asean CEOs believed that business opportunities in the next three years existed most in cross-sector competition (58 per cent), technology (36 per cent), and retail (25 per cent), while the threats were corruption (79 per cent) and shortage of talent (79 per cent).

Reinforcing this business optimism, 67 per cent of Asean CEOs expect to increase their headcount this year, compared with 50 per cent globally. Only 13 per cent plan job cuts, versus 21 per cent across the world.

Global CEOs, however, gave importance to using technology, partnering, and managing diversity of talents as key factors for their future businesses, said Sira, adding that about 80 per cent said they used technology on mobile phones.

Global CEOs gave most importance to technology while Asean CEOs were more concerned about partnering, he said.

Meanwhile, they ranked China (46 per cent), the US (38 per cent) and Indonesia (21 per cent) as the most important overseas growth markets for investment this year.

Asean companies are seeking to develop and retain a broader mix of talent, the survey found. This includes investing in learning and mobility programmes and recruiting staff with diverse skills, by using multiple channels including online platforms and social networks.

Source: http://www.nationmultimedia.com/business/PwCs-CEO-survey-ranks-Thailand-No-4-30254284.html


-- The Nation 2015-02-18

[rametindallas]

Thailand is ranked fourth this year, up from sixth in 2014, among the countries best positioned for economic growth over the next 12 months

How many anti-Prayut posters on this forum have been claiming that the Junta is driving the Thai economy into the ground? Double-tracked freight service is already in early construction phase, tax laws are being rewritten to offer growth incentives, and the PM is taking advantage of Thailand's position to grow the economy despite the damage from the thieving of the last government.

Edited February 18, 2015 by rametindallas