INSIDE THIS ISSUE:
GENERATIVE AI: HOW CHATGPT COULD CHANGE YOUR BUSINESS
ASK BETTER QUESTIONS - THE IMPACT OF AI ON EDUCATION
ROUNDTABLE MEETING WITH BANGKOK GOVERNOR
AMCHAMS OF ASIA PACIFIC BUSINESS SUMMIT 2023
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THERE IS A HUNGER THAT CAN NEVER BE FULFILLED ONLY ON APR 8
PRESIDENT
Ornkanya (Mook) Pibuldham, Bank of America N.A.
VICE PRESIDENTS
Jeffrey Nygaard, Seagate Technology
Arpaporn (Gift) Samabhandhu, Johnson & Johnson
Deborah Seifert, Pfizer
John Evans, Tractus
TREASURER
Kaveepan Eiamsakulrat, The K.E. Group
SECRETARY
Eliot Delunas, Nitro Labs
GOVERNORS
Wiyada Srinaganand, 3M
Jamie Brennan, Amazon Global Selling
Chatit Huayhongtong, Chevron
Tanapot Parksuwan, Citibank N.A.
Simon Denye, Harmless Harvest
Rachel Davidson, Hilton & DoubleTree Sukhumvit Bangkok
Charles Blocker, IC Partners
Aileen Chew, Mastercard
BOARD ADVISORS
David Lyman, Tilleke & Gibbins
AMCHAM President in 1975, 1986
EXECUTIVE DIRECTOR
Heidi Gallant
Editorial Advisory Board: Heidi Gallant
Editorial Team:
Varsha Wadhwani, Gawinnart Phupianlert Any
Letter
As we come back from our break and look back on the first quarter, we are really excited about how 2023 is going. Our AMCHAM volunteer leadership has been incredibly active planning events and meetings, and our members have responded with enthusiasm.
Over 40 new members have joined the AMCHAM community in 2023, more than I’ve ever seen coming on board in the first quarter. We are back to our full range of in-person and online event programming – in fact, Q1 saw 73 events on the AMCHAM calendar, significantly more than our usual 50 or so.
A few of our councils are now meeting monthly, bi-monthly or quarterly and these more regular meetings mean we hear about changes that will affect your businesses much more quickly than before.
AMCHAM representatives have met with the Thai Chamber and the Federation of Thai Industries in both high level board meetings and staff level working meetings and we are forming a much closer relationship with our Thai private sector partners. As expected, their business concerns are very similar to those of AMCHAM members, and we are looking forward to more collaboration. We’re following the election very closely in order to line up engagements with the new government.
Coming up in May, we’ll be hosting a Meet the Embassy event at the Ambassador’s residence, the Governor’s Gala on May 27, the AMCHAM Academy in a new residential format, and the return of the Women on Board series on May 15. This is all in addition to Governor’s Tables, Insight Exchanges, AMCHAM Business Today calls, Member Luncheons, Committee speaker presentations and Council meetings! We have a lot to do before the summer holidays and we can’t wait to see you soon!
Sincerely,
Heidi Gallant Executive Director
Generative AI and other foundation models are changing the AI game, taking assistive technology to a new level, reducing application development time, and bringing powerful capabilities to nontechnical users.
In the spirit of this article’s topic, we asked ChatGPT—a generative AI language model that can create original content in response to a user prompt—how it would set the context. Our prompt to the system:
Write the opening paragraph for an article about how transformative generative AI will be for business, in the style of McKinsey & Company.
The rise of generative AI has the potential to be a major game-changer for businesses. This technology, which allows for the creation of original content by learning from existing data, has the power to revolutionize industries and transform the way companies operate. By enabling the automation of many tasks that were previously
done by humans, generative AI has the potential to increase efficiency and productivity, reduce costs, and open new opportunities for growth. As such, businesses that can effectively leverage the technology are likely to gain a significant competitive advantage.
For us and many executives we have spoken to recently, entering one prompt into ChatGPT, developed by OpenAI, was all it took to see the power of generative AI. In the first five days of its release, more than a million users logged into the platform to experience it for themselves.
Products like ChatGPT and GitHub Copilot, as well as the underlying AI models that power such systems (Stable Diffusion, DALL·E 2, GPT-3, to name a few), are taking technology into realms once thought to be reserved for humans. With generative AI, computers can develop blogs, sketch package designs, write computer code, or even theorize on the reason for a production error.
Generative AI promises to make 2023 one of the most exciting years yet for AI. But as with every new technology, business leaders must proceed with eyes wide open, because technology today presents many ethical and practical challenges.
More than a decade ago, we wrote an article in which we sorted economic activity into three buckets—production, transactions, and interactions—and examined the extent to which technology had made inroads into each. Machines and factory technologies transformed production by augmenting and automating human labor during the Industrial Revolution more than 100 years ago, and AI has further amped up efficiencies on the manufacturing floor. Transactions have undergone many technological iterations over approximately the same time frame, including most recently digitization and, frequently, automation.
Until recently, interaction labor, such as customer service, has experienced the least mature
technological interventions. Generative AI is set to change that by undertaking interaction labor in a way that approximates human behavior closely and, in some cases, imperceptibly. That’s not to say these tools are intended to work without human input and intervention. In many cases, they are most powerful in combination with humans, augmenting their capabilities and enabling them to get work done faster and better.
These models are in the early days of scaling, but we have started seeing the first batch of applications across functions, including the following (not exhaustive):
• Marketing and sales—crafting personalized marketing, social media, and technical sales content creating assistants aligned to specific businesses, such as retail.
• Operations—generating task lists for efficient execution of a given activity.
• IT/engineering—writing, documenting, and reviewing code.
• Risk and legal—answering complex questions, pulling from vast amounts of legal documentation, and drafting and reviewing annual reports.
• R&D—accelerating drug discovery through better understanding of diseases and discovery of chemical structures.
The awe-inspiring results of generative AI might make it seem like a ready-set-go technology, but that is not the case. Its nascency requires executives to proceed with an abundance of caution. Technologists are still working out the kinks, and plenty of practical and ethical issues remain open. Here are just a few:
• Like humans, generative AI can be wrong. ChatGPT, for example, sometimes “hallucinates,” meaning it confidently generates entirely inaccurate information in response to a user question and has no built-in mechanism to signal this to the user or challenge the result. For example, we have observed instances when the tool was asked to create a short bio and it generated several incorrect facts for the person, such as listing the wrong educational institution.
• Filters are not yet effective enough to catch inappropriate content. Users of an imagegenerating application that can create avatars from a person’s photo received avatar options from the system that portrayed them nude, even though they had input appropriate photos of themselves.
• Systemic biases still need to be addressed. These systems draw from massive amounts of data that might include unwanted biases.
• Individual company norms and values are not reflected. Companies will need to adapt technology to incorporate their culture and values, an exercise that requires technical expertise and computing power beyond what some companies may have ready access to.
• Intellectual-property questions are up for debate. When a generative AI model brings forward a new product design or idea based on a user prompt, who can lay claim to it? What happens when it plagiarizes a source based on its training data?
In companies considering generative AI, executives will want to quickly identify the parts of their business where the technology could have the most immediate impact and implement a mechanism to monitor it, given that it is expected to evolve quickly. A no-regrets move is to assemble a cross-functional team, including data science practitioners, legal experts, and functional business leaders, to think through basic questions, such as these:
• Where might technology aid or disrupt our industry and/or our business’s value chain?
• What are our policies and posture? For example, are we watchfully waiting to see how technology evolves, investing in pilots, or looking to build a new business? Should the posture vary across areas of the business?
• Given the limitations of the models, what are our criteria for selecting use cases to target?
• How do we pursue building an effective ecosystem of partners, communities, and platforms?
• What legal and community standards should these models adhere to so we can maintain trust with our stakeholders?
Meanwhile, it is essential to encourage thoughtful innovation across the organization, standing up guardrails along with sandboxed environments for experimentation, many of which are readily available via the cloud, with more likely on the horizon.
The innovations that generative AI could ignite for businesses of all sizes and levels of technological proficiency are truly exciting. However, executives might want to remain acutely aware of the risks that exist at this early stage of the technology’s development.
This article has been edited for brevity for T-AB magazine. Read the full article here
ChatGPT, an online tool developed by OpenAI, was released in November 2022 to the public, creating an unprecedented wave of curiosity, excitement, and fear within the education community. As enthusiastic leaders in education, we may have a propensity for hyperbole and excitement for new technology. Despite this, ChatGPT (and the vast array of other similarly powerful Artificial Intelligence (AI) apps and websites) has truly changed education forever, catching many of us off guard.
ChatGPT is a language model which generates human-like text, effortlessly completing basic tasks like language translation, essay structuring, and modelling answers. The early adopters are now really beginning to understand its power, finding that it can solve complex mathematical equations, write sophisticated essays, and even generate computer code.
The possibilities of this technology seem to be limitless, and it is freely available to our students today.
Educators have long talked about being ‘futureready’, but when it comes to AI, the future has well and truly arrived, forcing us to consider the impact in our schools today. Here are five points that educators have been considering:
Academic Integrity
With the advent of AI writing, academic integrity has become a primary concern to many. However, we need to quickly move beyond this as a source of worry and ensure we are promoting ethical learning environments that prioritize honesty and integrity, rather than reacting to the latest technology. Schools must educate their staff and students on how to use AI technology in an ethical and responsible manner. A wonderful line of enquiry with students is to philosophically discuss whether AI writing is an extension of spell check or an editor function!
To ensure a positive culture around AI technology, staff must be well-trained and confident. Leaders should outline the expected culture and empower their staff to use AI tools. In a school setting, this can help teachers reduce their workload by automating routine tasks such as creating resources, grading work against a rubric, and providing real-time feedback. Staff need to know that this is acceptable, and be encouraged to use it, allowing them to prioritize delivering high-quality instruction and engaging with their students on a more personal level.
As history has shown, opposing technology is rarely successful. When calculators first entered the classroom, many teachers were afraid of the impact on mathematical learning. The reality has seen students access higher and more complex problems.
By encouraging students to use AI technology for legitimate purposes, such as receiving instant feedback and suggestions on how to improve their essays, or developing innovative solutions to complex problems, we can accelerate student learning so that they can achieve their potential. Schools must encourage their teachers to set healthy parameters for its use and help students to understand how to use it in a responsible and ethical manner. This is where magical outcomes can be achieved.
AI technology provides the best outcomes to those who ask the best questions. This is also true of education itself. Teachers who ask better
questions of their students, shifting away from traditional recall-centric problems, will allow their students to access higher-order thinking skills such as problem-solving, critical thinking, and creativity.
Traditional homework tasks appear to become meaningless when considered through this lens. Is asking students to complete ten quadratic equations a good use of anybody’s time? Would it be better to ask students to use AI technology to learn how they can solve quadratic equations, encouraging them to generate their own increasingly challenging questions and learning how to structure their answers, so that they deepen their understanding, ready to present their findings to their peers in the next lesson?
The role of traditional examinations is likely to be a debate that rages amongst educators, parents, and students over the coming years. Whilst our understanding of high-quality teaching and learning has evolved beyond all recognition, the format of examinations has not changed much since the 19th century. As we discover how to harness AI technology, it is likely that educators
will first ‘double down’ on tests as an assessment tool. After all, what better way is there to guarantee authenticity than sitting in exam conditions? In a world where technology has made information and modelling more readily available than ever before, it is suspected we will soon start asking ourselves why on earth are we setting these tasks in the first place.
A wonderful challenge awaits educators to develop new assessment methods that measure students’ ability to apply knowledge in real-world situations and that reward creativity and innovation. The future of education is exciting and full of potential, and we must embrace this new technology to prepare our students for the challenges that lie ahead.
We must ask better questions.
Matt Seddon is a forward-thinking educational leader who currently serves as the Secondary Principal at Bangkok Patana School. Passionate about student well-being and social development, Matt believes that by prioritizing these areas, students can thrive and make a meaningful impact in our world. His core values of community, empathy, hope, and perspective guide his approach to education and leadership.
By Jamie Brennan, Amazon Global Selling Thailand
Thinking of getting into selling online or looking for ways to boost online sales? There are plenty of options for selling online. Some sales channels can help you sell used items and gear, while others will consign or sell on your behalf. Selling online on a channel like Amazon is ideal if you want to sell new products, build a business, and reach a vast pool of customers.
In this article, we will offer general tips on things to consider before you start selling.
What products will sell best online? What niches would be most profitable for you? To determine what online business ideas are right for you, explore your interests and zero in on your strengths.
One way to get product ideas is to see what is already performing well for other online sellers by visiting the Best Sellers list. What makes these top products enticing to buyers? For example, take a close look at:
• Price: Is there a specific range these fall within, showing affordability (low price), or great value (higher price)?
• Reviews: What are buyers saying about the product—negative and positive? Take notes on what to do and not do.
• Seasonality: Are these products seeing higher purchases because it is the holidays, wintertime, or summer (for example, bathing suits, winter coats, and more)?
• Size: Is this product large and/or heavy? If so, it might be costlier to ship, cutting into your profitability or salability (if your price too high to cover shipping rates).
Use this information to identify products that sell well and interest you.
Who will the product appeal to? As you think about your ideal audience, you might find yourself drawn toward a particular niche, such as home decor
or pet supplies. The more specific the niche, the more specific your audience. This can bring clarity and help simplify your product selection process. Keep in mind, the smaller the niche, the higher the chance you might not reach as wide an audience. You might also be limited in the amount and types of products you can offer, as you become more specialized.
Check out this guide for tips on validating product ideas. You can also get inspiration from this list of business ideas. You will hear from over 40 entrepreneurs who have found success across different niches.
Once you have zeroed in on products you might want to sell, the next step is to figure out how you will procure them.
You might build or craft products from scratch or work with a manufacturer to design items according to your specifications. Some sourcing methods, such as wholesale, might require you to keep track of inventory, while others, like dropshipping and print on demand, can allow you to operate without a dedicated space for storage.
If you want to work with a supplier, here are a few things to consider:
• Quality: Make sure the supplier you choose is reliable and provides quality products. Check customer reviews, ask for samples, and read through their terms and conditions.
• Price: Compare prices between different suppliers to get the best deal. Do not forget to factor in shipping costs, as well.
• Delivery times: Find out how long it takes for the supplier to deliver orders. This will help you set realistic expectations for customers.
• Customer service: Check to see if the supplier offers customer service and how responsive they are to inquiries.
• Returns policy: Ask if they accept returns or if you have to handle this on your end. If they do, determine if there is a restocking fee.
• Inventory: Can the supplier handle large inventory loads? Ensure they can scale with you.
• Shipping: Find out what shipping methods they offer and how much it will cost you to ship orders to customers.
• Packaging: Check to see if the supplier offers custom packaging options, such as branded boxes or bags.
• Branding: See if the supplier offers any branding options, such as custom labels or tags.
• Bulk discounts: Ask if the supplier offers any bulk discounts for larger orders.
Take the time to research suppliers and compare offerings to make sure you are getting the best deal possible and providing customers with quality products.
What are you trying to sell? Who are you trying to reach? Your answers can help determine which channels to use to best reach customers.
You might want to use your own website, set up shop on an established selling website or do both!
You can design and build an ecommerce store from scratch, or use a tool like the Stores builder to create a custom, immersive ecommerce website experience. An Amazon storefront comes along with built-in infrastructure for processing payments, managing customer reviews, and more. It also gives you an analytics dashboard so you can track sales, reviews, prices, and other key performance metrics.
Social media can also be a great sales channel, if your audience spends a lot of time on sites like Facebook, Instagram, or Pinterest. Live-stream destinations can even allow you to engage with shoppers in real-time for product reveals, personalized product recommendations, and other interactive sales methods.
Some sellers focus on a single sales channel, while others use a mix of both. Experiment to see what works best for your needs, based on your business model. Do not discount local sales channels like classifieds and advertising on radio or television. What you do offline can help boost your business online.
Businesses interested in cross-border e-commerce can visit https://sell.amazon.co.th/ (in Thai) or https://sell.amazon.com/global-selling (in English).
Thailand has an extensive network of double tax agreements (DTAs) with 61 countries, including many major economies, such as the United States, United Kingdom, Singapore, France, China, Australia, and Hong Kong.
DTAs can offer Thai and foreign investors significant benefits when planning a cross-border investment. In this article, we will discuss some of the salient features of Thailand’s DTAs.
A DTA is a bilateral agreement between two countries to eliminate double taxation. The benefits of a DTA can help Thai and foreign investors plan a cross-border investment or transaction.
DTAs provide the following benefits:
• A reduction or exemption on withholding taxes (WHT) on certain income, including royalties, dividends, and interest.
• Allocate the taxing right on capital gains on the sale of shares between countries.
• Provide methods for the elimination of double taxation.
• Deal with issues of dual residency for companies and individuals.
• Provide a mechanism for the resolution of tax disputes.
• Provide permanent establishment thresholds for the taxation of business profits, including the cross-border provision of services.
Taxation of Cross-Border Payments under Thai Domestic Law.
Section 70 of the Thai Revenue Code prescribes that any payments made from or in Thailand (either by an individual or corporate entity) to a foreign recipient are subject to WHT at the following rates:
• Dividends – 10%
• Interest, royalties, and service fees – 15%
• Capital gains may be subject to tax of 15%
The table above shows the withholding tax rates under the DTAs between Thailand and the Unite.
For example, if a US company enters into a licensing agreement with a Thai entity for the right to use the US company’s software in Thailand, royalty payments under a licensing agreement from the Thai entity would normally be subject to withholding tax at the rate of 15% under Thai domestic law. However, Article 12 of the DTA between Thailand and US provides a reduced WHT rate of 5% on the royalty for the right to use the software.
In this case, the Thai entity can withhold tax at the rate of 5% instead of the 15% usually applicable under Thai law. As a result, the US company benefits from the lower rate of withholding tax on licensing its software to Thailand.
In the above example, the reduction in the WHT applied to royalty payments from Thailand to the United States. However, this could also apply to other forms of income, such as interest on loans, payments for services, and capital gains on the sale of shares. Thai resident companies can also benefit from the reduction in WHT on payments of income from a foreign jurisdiction in the same manner.
If the WHT rates provided under the DTA are higher than those under a country’s domestic law, the lower domestic rate will usually be applied. Therefore, the DTA will not increase the amount of taxation due under domestic law.
In Thailand, applying DTA benefits is automatic, and taxpayers do not need to apply to the Revenue Department to apply for the benefits under a DTA. However, this is not the case in some Asian countries, where taxpayers must apply for approval from the tax authorities before applying a benefit under the DTA.
Foreign companies without a legal presence in Thailand carrying on business and deriving income in Thailand can be subject to tax under the Thai Revenue Code. However, under a DTA with Thailand, the profits of a foreign company carrying
on business in Thailand are only taxable in Thailand if carried out through a permanent establishment in accordance with the DTA between Thailand and the country of residence of the foreign country.
For example, for a US company that provides services through its employees in Thailand, Article 5 (3) of the US- Thailand DTA provides that a US company providing services in Thailand will create a PE in Thailand if the activity within Thailand continues for more than 90 days within any 12 months. Therefore, where US company does not have a PE in Thailand, it will not be subject to Thai corporate income tax on profits derived.
Thailand deposited its instrument of ratification with the Organization for Economic Cooperation and Development (OECD) for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) in April 2022. The MLI entered into force in Thailand in July 2022 and is effective from January 2023.
The MLI introduced several changes to Thailand’s DTAs, with countries also signing and ratifying the MLI. Such changes include the introduction of a new anti-tax avoidance rule called the Principal Purpose Test (PPT).
It is unclear at this stage how the Thai Revenue Department may apply the changes in the future.
However, taxpayers should closely monitor these developments and take professional advice on transactions involving benefits under Thailand’s DTAs.
C . P . G r o u p s e l e c t e d a s m e m b e r o f
T h e S u s t a i n a b i l i t y Y e a r b o o k 2 0 2 3
f o r 2 n d c o n s e c u t i v e y e a r a s T O P 5 % i n t h e w o r l d .
C h a r o e n P o k p h a n d G r o u p i s c o m m i t t e d t o s u s t a i n a b l e b u s i n e s s o p e r a t i o n s b a s e d o n e c o n o m i c , s o c i a l , a n d e n v i r o n m e n t a l r e s p o n s i b i l i t y , b y r e c o g n i z i n g a n d g i v i n g i m p o r t a n c e t o m i n i m i z i n g i m p a c t s f r o m t h e b u s i n e s s e s o p e r a t i o n s , p r o d u c t s , a n d s e r v i c e s . T h e G r o u p s t r i v e s t o c r e a t e s u s t a i n a b l e b e n e f i t s f o r t h e c o u n t r y a n d s o c i e t y t h r o u g h t h e i n t e g r a t i o n o f i n n o v a t i o n a n d t e c h n o l o g y w i t h t h e s k i l l s a n d e x p e r i en c e s o f o u r h u m a n r e s o u r c e s .
The AMCHAM Thailand Board, Councils, Committees, Members and Team successfully led our member organization in returning to normal in 2022. This year we welcomed back our signature in-person programs, such as the Governors Gala, the CSR Awards Dinner, two Charity Golf events, membership luncheons, Trivia Nights, social dinners, speaker presentations and the Festive Holiday Party. We also continued to build a strong virtual program of regular industry meetings and capacity building seminars that members can easily attend without fighting the increasing traffic congestion. We continued two online monthly networking meetings that have proven very popular; the AMCHAM Business Today and the Insight Exchange. The result was a year with the most events AMCHAM Thailand has ever hosted, with a total of 226 functions for members.
Our strategic focus continues to be: 1) enhance membership services and government engagement, 2) expand and connect our member network, and (3) give back to community in Thailand. The Chamber excelled this year in each of these target areas and enjoyed deepening access to the Royal Thai Government for shaping public policy that affects our members.
AMCHAM expanded our wealth of relationships with the Royal Thai Government, hosting 40 membership meetings and round tables throughout the year in both in person and virtual settings. Our Government Affairs team now has experienced policy officers working with various Committees and Councils so that advocacy initiatives run seamlessly with capacity building programs for members. This team produces our weekly email of news and regulatory updates, which has become one of our most valuable offerings for many members.
We have also continued our close engagement with the U.S. Embassy and were honored to be among the first to welcome Ambassador Godec upon his arrival in Thailand. Members had the opportunity to meet the Ambassador at our AGM luncheon and CSR awards dinner last year, as well as at our Holiday Festive Party. We were also pleased to offer three events jointly with the Embassy’s Consular Section last year, as well as welcome U.S. Embassy participants at our events and meetings.
AMCHAM focused on sharing who we are and what we do with the wider community this year,
prompting increased press coverage in key publications like the Bangkok Post and the Nation. Our LinkedIn activity and visibility has also grown, with organic engagement from our leadership and members helping to amplify AMCHAM presence throughout the business community.
AMCHAM Thailand is financially secure with ample reserves and the ability to provide many complimentary in-person and virtual programs for our members while also maintaining generous CSR and scholarship programs. We continue to upskill the AMCHAM team in order to provide the changing services required by our members.
Many In 2022, AMCHAM Thailand had a net gain of 28 corporate members. We lost only 53 existing members – but signed on 81 new members. We look forward to continuing this trend in 2023 and are hopeful for a return to pre-Covid membership numbers by the end of 2023.
Member engagement is extremely high, with members finding more avenues than ever before to engage with AMCHAM and utilize our services.
With the return of many in-person events, members have relished the chance to socialize with our community again. More members are also seeking ways to become more active with AMCHAM, and as a result we have over 90 volunteer leaders for our committees and councils in 2023.
Finally, our chamber remains committed to improving the lives of Thai people through the funding of scholarships and the building of schools. We have 60 students in our scholarship program this year and we built two new school buildings in Ubon Ratchathani province. Our 2022 annual AMCHAM CSR Excellence Awards program had the largest number of awardees ever, showing that even in difficult times, our members support the communities where we live and work.
I am very proud of what we have accomplished together this past year. It has been an honor to serve this distinguished network of executives along with my fellow board governors. As I pass the torch to a new AMCHAM President, I thank you all for your commitment to AMCHAM’s success.
Jeffrey Nygaard 2022 President AMCHAM Thailand
The American Chamber Of Commerce In Thailand
Annual Financial Statements And Audit Report Of Certified Public Accountant For The Year Ended December 31, 2022
The AmChams of Asia Pacific Business Summit 2023, hosted by the American Chamber of Commerce in Thailand (AMCHAM Thailand) in partnership with Trade Winds ASEAN and the U.S. Commercial Services, recently took place over three days. This highly anticipated event was the largest U.S. Government trade mission, with over 100 American businesses participating, offering numerous opportunities for networking, business development, and one-on-one meetings with the U.S. Foreign Commercial Services Department to gain insights on investing in the region.
“The AmChams of Asia Pacific Business Summit 2023 brought together key players in the American and Asian business communities for a three-day event that provided valuable insights into the latest trends and challenges in the region. We are proud to have hosted our summit in conjunction with the largest U.S. Government trade mission, which showcased the significant interest and commitment of American businesses in exploring opportunities in the Asia Pacific region”- said AMCHAM Executive Director Heidi Gallant.
The summit’s agenda featured several keynote speeches and plenaries that delved into important topics such as the Growth Mindset: U.S. Business Perspective on New Markets, doing business in Thailand, doing business in the Asia Pacific region, and a regional outlook on supply chain and digital transformation. These discussions were particularly insightful and informative for the attendees, providing them with valuable insights and knowledge to help them navigate the current business landscape.
Notable attendees included Prime Minister Prayut Chan-o-cha, U.S. Ambassador to Thailand, Robert Godec, Under Secretary of Commerce for International Trade Marisa Lago, along with AMCHAM members and the Executive Directors of AmChams from across the Asia Pacific region. Overall, the AmChams of Asia Pacific Business Summit 2023 was a resounding success, serving as a catalyst for further collaboration and growth between American and Asian businesses.
On Mar 9, AMCHAM President Ornkanya (Mook) Pibuldham, led representatives to meet with Bangkok Governor, Dr. Chadchart Sittipunt, Deputy Governors Dr. Tavida Kamolvej and Mr. Sanon Wangsrangboon, and Chairman of Governor’s Advisory Team Torsak Chotmongkol at Bangkok City Hall.
The discussion covered topics of importance to companies operating in Bangkok from education, promoting the creative economy, healthcare, to tourism and hospitality. AMCHAM Thailand affirmed its readiness to collaborate with Bangkok Metropolitan Administration (BMA). Both parties
agreed to set up working groups to work closely on future collaboration. The Governor welcomed active support from AMCHAM’s business community to advance Bangkok as a livable city for all.
AMCHAM is planning several future engagements with the Governor including a tree planting activity with our AMCHAM Thailand Foundation Scholars and AMCHAM members in mid-June to celebrate Independence Day. In the lead-up to this event, AMCHAM will be calling for member support for the BMA’s Saturday School program.
On Mar 16, 2023, AMCHAM representatives met with John Leonard, Deputy Executive Assistant Commissioner, US Customs and Border Protection (CBP), and his team during his trip to participate in the Tradewinds at the Board Room of True Digital Park.
The meeting was informative and insightful, covering updates of the US immigration process to CBP’s trade mission. The Forced Labor Prevention Act enforcement was also brought up to the discussion table. He further mentioned the implementation of CBP’s Green Trade Strategy
on its core values in complementing other US environmental trade crimes missions.
Before closing the meeting with a productive question-and-answer session, Brandon Lord, Executive Director of the CBP Trade Policy and Programs, elaborated on the CBP initiative called Global Business Identifier Pilot to Increase Supply Chain Visibility as an innovative solution to increase transparency and to comply with the due diligence concept.
Find CBP live updates on the Twitter @CBP.
On Mar 22, AMCHAM Manufacturing committee leader, Frank Timmons of Tractus, along with AMCHAM members, welcomed Deputy SecretaryGeneral Ekanit Romyanon of the Thai Industrial Standards Institute (TISI), Ministry of Industry, to the AMCHAM Virtual Membership Meeting.
Deputy Secretary-General Ekanit delivered an insightful presentation covering the role that TISI plays in providing standardization and
certifications for the private sector as well as the overarching mission to protect consumers and enhance Thailand’s competitiveness and economy.
At the end of the meeting, AMCHAM members had opportunities to learn how to contact TISI, plans to introduce standardizations for sustainability, and more.
Mula-X, a Thai fintech focused on improving financial inclusion for underserved communities in Southeast Asia, has been recognized with two prestigious accolades at The Global Economics Awards.
Mula-X was presented with two awards during the ceremony at Avani+ Riverside Bangkok Hotel recently:
• Best New End-to-End Digital Lending Platform –Thailand 2022
• Most Innovative Digital Ecosystem for Underserved – Thailand 2022
Mula-X has developed an end-to-end digital lending and learning platform underpinned by alternative data, AI/ML credit scoring methods and world-class infrastructure technologies that enables instant access to earned wage, employee benefit schemes, personal loans, and knowledge access. It aims to use these technologies working with employers to create an enabling financial ecosystem for the
underserved population to access financial services quickly, easily, and cost-effectively thus reducing financial stress and ultimately increasing employee engagement and productivity.
The accolades support Mula-X’s mission to be the best financial ecosystem in Southeast Asia for the underserved. Whilst Thailand serves as the fintech’s pilot market, it has ambitious plans to expand across the region in the future.
MedPark IVF is now open and provides consultation and treatment for couples using assisted reproductive technologies such as In Vitro Fertilization (IVF), intracytoplasmic sperm injection (ICSI), and artificial intelligence (AI) embryo selection to treat complex reproductive disorders and increase the chances of successful pregnancy.
Their devoted team of obstetricians and genecologists have extensive clinical experience,
and all are board certified subspecialists in reproductive endocrinology. Additionally, the hospital also has fertility preservation for patients receiving cancer treatment detrimental to the reproductive system, such as chemotherapy.
The IVF Center provides one-stop service and is equipped to treat patients 24/7 for any emergency case.
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Speakers: Pornapa Luengwattanakit of Baker & McKenzie Yi Jaywon of Baker & McKenzie Nat Uawithya of Legal Concept Law Office, and Thanyaluck Thongrompo of Kudun and Partners.
Moderator: AMCHAM Legal Committee Co-Chair Douglas Mancill of Legal Analytics & Advocacy (Thailand)
Organized by: Legal Committee
Event Highlights:
AMCHAM welcomed guest speakers to provide updates, insights, and in-depth understanding on three key legal highlights from 2023 including the Foreign Business Act, Thai anti-corruption law, and longterm resident visa. (LTR)
The presentations were followed by a meaningful question-and-answer session on how members can adapt developments and restrictions to both individuals and companies.
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The Governors’ Table: Eastern Seaboard – Mar 2
Hosts: Wiyada Srinaganand of 3M Thailand, Charles Blocker of IC Partners, and John Evans of Tractus Asia.
Event Highlights:
Board Governors were delighted to welcome members to our Governors’ Table on the Eastern Seaboard, where leading executives were able to connect over a leisurely dinner. AMCHAM members enjoyed face-to-face networking with the premiere business community at the Hilton Pattaya.
Speaker: Dr. Drew B. Mallory of Sasin School of Management
Moderators: DEI Committee Co-Chairs Christopher Schultz of DKSH, Steph Galera of Agoda, Max Simpson of Steps Community, and Trent Rooks of Schaeffler.
Organized by: Diversity, Equity, & Inclusion (DEI) Committee
Event Highlights:
AMCHAM’s new Diversity, Equity, and Inclusion Committee kicked off its first event “coming out”, that explored the current state of DEI in Thailand. Dr Drew of Sasin provided insights on how organizations can encourage diversity in leadership roles and create a more inclusive workplace. The presentation was followed by a break-out session for members to share their ideas for subjects the committee can address in the coming months.
Speaker: Allan Schulte of Bain & Company
Organized by: Tourism & Hospitality Committee and Aerospace Council
Event Highlights:
Guest speaker Alan focused on recent trends and the forward-looking outlook for return of air lift capacity in the APAC region, with a particular focus on ASEAN and Thailand. The presentation was followed by a general free flow discussion on the state of the Thai and regional aviation industry.
The event was hosted in hybrid format with members joining both online and in-person.
Moderators: Young Professionals Committee
Co-Chairs Haripoom Prasutchai of Vriens & Partners, Joshua Yang of Kudun & Partners, and Sarah Urtz of Tractus Asia
Organized by: Young Professionals Committee
Event Highlights:
“Where there’s a will, there’s a win!” The AMCHAM Young Professionals Committee hosted a rousing Trivia Night. The event was a fun-filled evening where members had the opportunity to showcase their trivia knowledge, network with other young professionals, and support the AMCHAM Thailand scholarship program for disadvantaged Thai students, which is where all event proceeds were donated. A big shout-out to Tractus Asia for their generous sponsorship of this successful night.
Audience IQ is a full-service digital consultancy agency for today’s data driven digital companies. At AiQ, they provide both services and technology, allowing data driven advertisers a One Stop Solution.
Designate: Russell Keith Conrad, Managing Director
Edison Motors was founded by two engineers who wanted to create better urban mobility technology for all - where users do not need to compromise to ride electric. In 2019, the company launched its first all-electric model Edison Volta, for a comfortable and powerful ride.
Designate: Vikram Ahuja, Managing Director
Focused on delivering better everyday health with humanity and creating initiatives that raise the bar to support health professionals, patients, and everyday health.
Designate: Jean Francois Couve, General Manager
A group of experienced consultants who are ready to bring expertise to help businesses achieve their goals. The current playing field for businesses poses several challenges. With years of experience, MCG consultants are trusted by organizations of various natures, including multinational corporations, governments to non-profit organizations.
Designate: Raiwin Kiatkwankul, Partner
OCTOBUS is designed for small and medium-sized enterprises (SMEs) to visualize, monitor, evaluate, and analyze their data, empowering them to continuously improve their business processes. The platform is versatile and serves a wide range of industries. The perfect tool for companies looking to kick-start their digital transformation initiatives immediately.
Designate: Egils Rubenis, Chief Executive Officer
One of the world’s largest manufacturers and distributors of candies and chewing gums in more than 150 countries worldwide. Their global brands Mentos, Chupa Chups, Alpenliebe, Fruittella gratify, lollypops, refresh, inspire consumers of all ages around the globe.
Designate: Michele Gherardini, Group regulatory and External Affairs Senior Manager
Pionero Co. Ltd. is a Bangkok-based business consultancy firm providing innovative public affairs and communications services to companies seeking to thrive in today’s fast-changing world. We are committed to providing top-tier services that cover a wide range of business needs.
Designate: Archawat Chareonsilp, Director
A young and energetic digital performance marketing agency in Southeast Asia, with offices in Australia, Singapore, and Thailand. They have one focus, to help businesses reach the people looking for their product or services at the right moment, location, and device through different channels.
Designate: Antonio Lui Fernandez Alcobas, Chief Executive Officer
Resecurity is an American cybersecurity company with headquarters in Los Angeles, California that delivers a unified platform for endpoint protection, risk management, and threat intelligence for large enterprises and government agencies worldwide.
Designate: Peter Mills, Business Development Manager
Robertshaw is a global design, engineering, and manufacturing company that sells product solutions in the white goods industry and leverages this portfolio and technology into adjacent markets and after-sales channels.
Designate: Marc Spiegel, Vice President Asia
Chevron Enjoy Science is divided into two phases. The first five years of the project were focused to adapting STEM education models successfully implemented in other countries to the development of teachers and education professionals in Thailand, both within and outside of the classroom and in academic and vocational domains. SEAMEO STEM-ED implemented the second phase, which built on the success of the first phase and focused on enhancing the competency of government agencies and related parties in order to sustainably improve the quality of education. Throughout the course of the project, STEM education has been successfully integrated into 835 schools, benefiting over 3,300,000 people.
engineering, and mathematics—or STEM, in a full-scale and measurably successful manner in Thailand, the ‘Chevron Enjoy Science’ project initiated by Chevron Thailand Exploration and Production, Ltd. has been an exemplary ‘public-private partnership’ program aiming at strengthening Thailand’s capability through STEM education. With a total budget of more than US$35 million, the project intends to lay a solid foundation for the development of the country's competitiveness and innovation. Southeast Asian STEM Education Fair and Exposition 2023, organized by the Southeast Asian Ministers of Education Organization Regional Centre for STEM Education (SEAMEO STEM-ED) with Chevron as a major sponsor, serves as a platform for showcasing the initiative's significant achievements and paves the way for the advancement of STEM education at the national and regional levels. The event was attended by over 500 participants, including government o cials, policymakers, curriculum developers, the project’s partners from many sectors, and youth from both Thailand and neighboring
For such endeavor at the regional level, Chevron Eurasia-Pacific Exploration and Production Co., Ltd. has agreed to contribute US$ 850,000 for the development of STEM teachers through the STEP program, which aims to help improve professional teachers so that they stay up to date of changes in the modern world. Five countries cover Thailand, Kazakhstan, Indonesia, and two other countries in EurasiaPacific. The funding will also support research and policy-making by helping to strengthen the network of researchers, improve their competencies, and advocate for their work to be recognized in national and regional policy.
Chatit Huayhongtong, president of Chevron Thailand Exploration and Production, Ltd., reiterated the determination to contribute to the country’s socio-economic sustainability, saying that “from the very beginning of Chevron Enjoy Science in 2015, we aimed to make the project sustainable, so we have been running it for eight consecutive years. We have purposefully become part of the e ort in bringing society to a better future with the long-running project in collaboration with our like-minded partners. Our culture believes in the ‘power of human energy’, so we are committed to human development through education reform and improvement. Throughout the past few decades, we have been supporting a multitude of educational initiatives. We are determined to advance the body of STEM knowledge and integrate that into the Thai education system, thereby contributing to the foundation upon which socio-economic strengths are built.”
"the Ministry of Education is set on developing the body of knowledge for STEM education by building a robust network of collaboration with several agencies to be able to prepare young people for the ever-changing world disrupted by technology and unforeseen circumstances. We push for the implementation of policy for how to provide STEM education in educational institutions, as well as monitoring and assessing their progress and performance. We also devise STEM education curriculums for all schools in the country and strive to increase the capability of new generation of teachers, with an emphasis on the importance of providing coding lessons for all school levels in Thailand, as well as 'unplugged coding'. The latter is to do with the development of critical thinking skills and systematic problemsolving, and the promotion of lifelong learning and self-development in all Thai people regardless of age. In preparing Thai people for the 21st century, we also emphasize the integration of the 'arts of life', 'arts of living', and 'arts of working together' into the provision of STEM education, resulting in STEAM.
