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Sunday, Apr 06, 2025

Thai Chamber of Commerce Promotes Investment in the US Amid Global Economic Challenges

Thai Chamber of Commerce Promotes Investment in the US Amid Global Economic Challenges

New Chairman Poj Aramwatananont outlines strategic initiatives for Thailand's economic growth and global competitiveness.
Poj Aramwatananont, the newly appointed Chairman of the Thai Chamber of Commerce, has emphasized the need for resilience and innovation in navigating the challenges posed by rapid changes in the economic, social, and geopolitical landscape.

In his policy address, he designated 2025 as a year that would require concerted efforts across all sectors to foster stable and sustainable growth for Thailand's economy.

The Chairman reaffirmed his dedication to continuing the initiatives of predecessors, particularly highlighting the 'Connect the Dots' initiative introduced by former Chairman Sanan Angubolkul, which seeks to enhance collaboration among the government, private sector, and public to bolster Thailand’s economic sustainability.

Aramwatananont aims to expand upon these efforts with the introduction of the 'Unlocking New Growth' strategy, a key approach set to enhance Thailand’s global competitiveness over the next two years.

In a bid to modernize its operational framework, the Thai Chamber of Commerce has been restructured to adapt to the dynamic needs of the contemporary economy, increasing its operational pillars from three to five.

These pillars include:

TRADE AND INVESTMENT – Encompassing both domestic and international trade, including border trade.

AGRICULTURE AND PROCESSED FOOD – Fostering smart farming initiatives, promoting the Halal industry, and integrating technology within the food sector, with the aim of positioning Thailand as a global food hub.

TOURISM AND SERVICES – Shifting focus from mass tourism to enhancing high-quality tourism offerings.

AI, ROBOTICS, DIGITAL TECHNOLOGY, AND INNOVATION – Encouraging the adoption of digital technologies within businesses to enhance operational efficiencies and support the startup ecosystem, particularly within deep tech sectors.

SUSTAINABILITY – Leading Thai businesses toward a Net Zero Economy by embedding Environmental, Social, and Governance (ESG) principles, renewable energy solutions, and climate action strategies into business operations.

Aramwatananont expressed a commitment to proactive collaboration with the government to navigate diverse global trade scenarios and safeguard Thailand’s production capabilities amidst shifting dynamics.

He acknowledged the direct impact of current global uncertainties, such as geopolitical conflicts and ongoing trade wars, on Thailand’s trade, investment climate, and industrial sectors.

To effectively respond to these challenges, Thailand has established cooperative frameworks with several key international partners, including Thailand-China, Thailand-US, Thailand-EU, and Thailand-Japan.

A dedicated task force has been created in conjunction with the government to monitor global trade developments, accelerate Free Trade Agreement (FTA) negotiations, and broaden economic partnerships with strategic allies.

These efforts are designed to support Thai investments abroad while also attracting foreign direct investments, working closely with entities such as the Board of Investment (BOI).

Poj highlighted the complexities of attracting foreign investments into Thailand, particularly in light of evolving relations with the United States.

He noted the necessity of achieving a balance where both countries can meet each other’s expectations in terms of investment inflow and product exports.

From May 9 to 14, the Chairman will lead a delegation from the Thai Chamber of Commerce, in partnership with interested business members, to participate in the SelectUSA Investment Summit.

This event, which invites foreign businesses to consider investments in US states, serves as a strategic opportunity for Thailand to explore expansion prospects and convert challenges into potential opportunities against the backdrop of US trade policies implemented during the Trump administration.
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