Thai private sector gets ready for AEC now

[webfact]

Private sector gets ready for AEC now



BANGKOK: -- The Thai private sector is now getting ready for the ASEAN Economic Community (AEC) formation at the end of the year with the country's retail giant expanding outlets at border areas to welcome more visitors, and call to speed up fourth generation mobile licence auctions.

Central Group has progressed on with its plans to officially open branches along the border areas to usher in the AEC formation.

Meanwhile the private sector also urges speedy auction of the fourth generation mobile phone licence or 4G so as to push the country to digital economy faster.

These were raised at the AEC Highlight 2015 seminar held yesterday by the Department of Business Development about the economic trend of the country.

Chief executive officer of Central Group, Tos Chirathivat, said the domestic economy is improving this year, while the spending power is also increasing, as tour groups from China has increased over 40 percent during the just passed Chinese New Year festival.

Moreover, developments in various sectors have completely kicked off ahead of the launching of the AEC, and the Central Group expected more spending power within the ASEAN grouping to increase as well.

He said Central Group would be officially opening five new malls in border areas with high potentials, including Chiang Rai province, Mukdaharn province, Hat Yai district of Songkhla province, Udon Thani province, and Mae Sot district of Tak province.

The group would further increase its online businesses from 50,000 to 150,000 within the year as well.

Meanwhile the director of the Economy and Business Forecasting Centre of the University of the Thai Chamber of Commerce, Thanawat Polwichai, also revealed a survey conducted on 1,300 entrepreneurs from 77 countries showing Thailand is the second most attractive investment destination in ASEAN.

The country ranks the fourth in the world, thanks to the Digital Economy policy which has received positive feedback from investors, and the signs of global economic recovery in the second half of 2015.

He said that the government should take this opportunity to push forward the 4G mobile networks as soon as possible, as well as working with the neighbouring countries to establish special economic zones and encourage the investment in the neighbouring countries to take advantage of the EU’s Generalised Scheme of Preferences (GSP).

He stated that if the country failed to adapt to the situation, the Thai economy will fall behind Malaysia and the Philippines in 2050, or in 35 years time.

The high rankings were due to the government’s policy in pushing the country into the digital economy system, in which the international community saw as a right move, he said.

Regarding the request from the private sector on the amendment of the tax structure for SME owners from the flat rate 20 percent to the 2-15 percent ladder system, Dr Thanawat said that the corporate income tax payment will help the business sector to better manage the costs, rather than paying the value added tax (VAT).

This will help the SMEs to enter the correct tax system within 3-5 years time, he said.

Source: http://englishnews.thaipbs.or.th/private-sector-gets-ready-aec-now


-- Thai PBS 2015-02-24

[otherstuff1957]

The fuss about the AEC is much ado about nothing.

Remember that only 7 professions will be able to "move freely" between countries. Of those 7 professions I predict only Tour Guides and Nurses will really take advantage of this in any significant numbers. However, even though they can "move freely" between countries and their professional certifications will be cross-recognized, they will still have to get the proper visas and work permits.

[clockman]

Thainess will form part of the equation! No hope.

[Gunna]

The fuss about the AEC is much ado about nothing.

Remember that only 7 professions will be able to "move freely" between countries. Of those 7 professions I predict only Tour Guides and Nurses will really take advantage of this in any significant numbers. However, even though they can "move freely" between countries and their professional certifications will be cross-recognized, they will still have to get the proper visas and work permits.

Thailand just wants their workers to be able to be employed in other countries, but not allow other countries workers to work in Thailand

( because they have better education systems, are better English speakers and hard workers ) and take jobs from Thais

[Phuketboy]

You will find that once people realise that it's not the same for those coming to Thailand to work as it is for Thais going to neighbouring countries, the complaints will start and that will be another embarrassing blow for Thailand. The rules need to be the same. If a Thai can go to Malaysia, Vietnam or Phillipines for example and free to work the same should be for those coming here. It won't be and and this will lead to tensions between countries, probably with the end result being Thailand kicked out because it can't offer anything to AEC. A shame really, because if done right, it would boost Thailand 10 fold.

[Plowman]

Competition will destroy many protected businesses and businessmen in this country. Thailand ain't ready, won't be until their is opens (read democracy).

[colspeed]

But they still don't give a sh&*^*t about speaking English, which is the "LinguaFranca" of Asean.

[Srikcir]

"the Thai economy will fall behind Malaysia and the Philippines in 2050, or in 35 years time."

Sorry, but the timeline will be in 5 year's time or less if the Thai military can't keep their hands off the throats of Thai People's rights and liberties.

[IsaanUSA]

The fuss about the AEC is much ado about nothing.

Remember that only 7 professions will be able to "move freely" between countries. Of those 7 professions I predict only Tour Guides and Nurses will really take advantage of this in any significant numbers. However, even though they can "move freely" between countries and their professional certifications will be cross-recognized, they will still have to get the proper visas and work permits.

Free trade. You will be able to buy products from neighboring countries more easily, but realistically, people in neighboring countries will be able to buy Thai goods more easily. I'm excited for the beer selection that will be expanding in Thailand.

[otherstuff1957]

The fuss about the AEC is much ado about nothing.

Remember that only 7 professions will be able to "move freely" between countries. Of those 7 professions I predict only Tour Guides and Nurses will really take advantage of this in any significant numbers. However, even though they can "move freely" between countries and their professional certifications will be cross-recognized, they will still have to get the proper visas and work permits.

Free trade. You will be able to buy products from neighboring countries more easily, but realistically, people in neighboring countries will be able to buy Thai goods more easily. I'm excited for the beer selection that will be expanding in Thailand.

I predict that free trade will be anthing but! At the last minute Thailand will have some Boon Rawd influenced legislation that will keep high import duties on alcoholic beverages.

[IsaanUSA]

The fuss about the AEC is much ado about nothing.

Remember that only 7 professions will be able to "move freely" between countries. Of those 7 professions I predict only Tour Guides and Nurses will really take advantage of this in any significant numbers. However, even though they can "move freely" between countries and their professional certifications will be cross-recognized, they will still have to get the proper visas and work permits.

Free trade. You will be able to buy products from neighboring countries more easily, but realistically, people in neighboring countries will be able to buy Thai goods more easily. I'm excited for the beer selection that will be expanding in Thailand.

I predict that free trade will be anthing but! At the last minute Thailand will have some Boon Rawd influenced legislation that will keep high import duties on alcoholic beverages.

http://www.asean.org/communities/asean-economic-community/category/asean-free-trade-area-afta-council

Here is a link to the tarriffs : http://www.asean.org/news/item/annex-2-tariff-schedules

Thailand is at 0% and Vietnam is at 5%.