T-AB June-July 2024

June-July

Chevron is committed to supporting Thailand's energy security. We work tirelessly 24/7 to be a force driving the progress of the country.

For over 60 years,

we have a vital role to play in meeting growing demand for affordable, reliable, and ever-cleaner energy, which continues to enable human progress. We are the human energy company.

Table at The Athenee Hotel

ASEAN Webinar Series: Malaysia & Indonesia

Site Visit to COBRA International

Site Visit to Harley-Davidson Motor Company

AMCHAM BOARD OF GOVERNORS 2024

PRESIDENT

Ornkanya (Mook) Pibuldham, Bank of America N.A.

VICE PRESIDENTS

Wiyada Srinaganand, 3M Thailand

Chatit Huayhongtong, Chevron

Peerasak Gamonsugosol, Honeywell Systems

Charles Blocker, IC Partners

TREASURER

Simon Denye, Harmless Harvest

SECRETARY

Eliot Delunas, Nitro Labs

GOVERNORS

Lena Ng, Amata Corporation PCL

Eddy Harinasuta, Amazon Web Services (Thailand)

Narumon Chivangkur, Citibank Ravi Bordia, Kenvue

Asama (Prae) Dumrongmongcolgul, Meta

Ririnda Tangtatswas, Minor International

John Evans, Tractus

BOARD ADVISORS

David Lyman, Tilleke & Gibbins

AMCHAM President in 1975, 1986

EXECUTIVE DIRECTOR

Heidi Gallant

T-AB Magazine is a publication by The American Chamber of Commerce in Thailand.

101 True Digital Park, Griffin Building, Level 12A, Unit No.12A-06, Sukhumvit Road, Bangchak, Phra Khanong, Bangkok 10260

Tel: +66 (0)2 119 3350 www.amchamthailand.com

Editorial Advisory Board: Heidi Gallant

Editorial Team:

Varsha Wadhwani, Gawinnart Phupianlert, Aphirak Klayna, Nutcha Sangthai, Phenphitchaya Chapanon, Pailinsiri Gronphet

Any opinions expressed in articles in this magazine do not necessarily reflect the views of the Chamber.

T-AB Magazine welcomes contributions from AMCHAM members. Articles may be reproduced with acknowledgement, except those taken from other sources.

Letter from the Excutive Director

Dear Members,

Our Thailand-U.S. Trade & Investment Conference at the end of May was a great success for both the private sector and government stakeholders who attended. Together with our

partners, the Thai Chamber of Commerce, and the U.S. Chamber of Commerce, we are committed to making this an annual flagship event. A huge thank you to our AMCHAM sponsors, speakers, and guests for your contributions to this special event.

Over the next couple of months, our team is working hard on advocacy initiatives, including a white paper on ease of doing business for start-ups and SMEs; an updated Tourism and Hospitality white paper; and recommendations and requests for clarification on new regulations regarding sustainable packaging, climate change, marketing food and beverage to minors, foreign sourced income, global minimum tax, digital platforms, AI and more. Please contact our Government Affairs team for more information.

In other news, we are collaborating with eight other foreign chambers on the first Foreign Chambers Open, a fun evening at Topgolf on August 22nd. It will be a great chance to connect with executives from other business networks in a relaxed indoor/outdoor setting with plenty of food and drink. No prior experience is needed to enjoy this event!

Coming up is the annual property update at our Member Luncheon on August 21st, where you’ll also meet our scholarship students visiting for their career camp. The career camp brings to Bangkok, 30 of our AMCHAM Thailand Foundation graduating university scholarship students for site visits, workshops, and mock interviews with our member company HR teams.

August will also feature a webinar series with the U.S. Embassy, where you’ll hear directly from Embassy representatives about topics like business visas, American citizen services, voting, and more.

As always if you have any questions or need our help, the team and I are always delighted to hear from you!

Sincerely,

Heidi Gallant

Executive Director

EXCLUSIVE TIER MEMBERS 2024

S

Tailored Policy Design and Collaborative Action: Keys to Thailand’s Packaging Circularity

By Ignace Corthouts, ThaiNamthip

Introduction

Addressing post-consumer packaging issues is a global challenge, and Thailand is no exception. The Thai Government, alongside key stakeholders, has been actively devising packaging policies to enable genuine circularity. Tackling this challenge requires navigating the complex landscape of waste management, taking into consideration the unique contexts of Thailand. While the overarching goal of achieving packaging circularity is universal, strategies and implementation methods must be adaptable and context-specific to effectively address diverse challenges and uniqueness.

Deep Dive into the Uniqueness of Thailand’s Context

One distinctive feature of Thailand’s waste management system is its vibrant informal sector driven primarily by individuals, often known as “saleng,” who scour the streets, landfills,

waterways, households, and businesses for recyclable materials. They significantly contribute to waste reduction and resource recovery. The “saleng” sector comprises small-scale independent collectors and larger recycling businesses. Independent collectors typically operate in specific neighborhoods, collecting materials door-to-door or from designated points, while larger recycling businesses manage sorting and processing facilities, handling higher volumes and selling materials to recycling companies.

Thailand also excels in proactive government and industry participation in driving Extended Producer Responsibility (EPR). In recent years, we have seen significant momentum toward EPR policy development. Noteworthy initiatives include the formation of the Packaging Recovery Organization Thailand Network (PRO-Thailand Network), which unites seven leading companies in a pilot collection model. A voluntary collaboration to drive and promote sustainable post-consumer packaging management by implementing the EPR principles, especially the PRO-model. It focuses on managing the entire lifecycle of packagingfrom design to collection, recycling or upcycling including disposal as well as educating the general public on proper waste segregation to increase collection for recycling or recovery. Additionally, the successful establishment of the National EPR Committee underscores a collaborative effort to shape EPR policy, involving knowledge exchange, research endeavors, and testing of post-consumer packaging collection models. These actions represent crucial steps and highlight the strength of Thailand’s policy ecosystem in driving effective packaging policies.

Activating Circular Packaging: The Power of Teamwork & Collaborative Action

Beyond grasping Thailand’s unique context, which profoundly influences practical policy, it is crucial to recognize that vibrant engagement from all stakeholders across the value chain emerges as the key to achieving packaging circularity. There are three key focus areas, each with distinct roles for different actors:

Eco-Design:

Producers and government sectors are pivotal at this stage. Producers play a crucial role in designing packaging that is easily recyclable or reusable. Years ago, plastic wraps were commonly used over water bottle caps, but manufacturers have voluntarily phased them out in favor of more eco-conscious designs. More recently, several initiatives have emerged to promote sustainable packaging. Consumer goods brands such as Namthip and Minute Maid have innovated by reducing the use of virgin plastic and incorporating liquid nitrogen to strengthen their bottles. Also, manufacturers across Thailand are exploring ways

to minimize virgin plastic usage and transition to lightweight packaging. Opting for clear plastics to increase recyclability is a packaging innovation, for example, Sprite switched from green to clear bottles to facilitate easier recycling and incentivizing collectors and recyclers with the increase in value. Furthermore, to reduce waste at the source, many leading brands are developing label-free packaging, further contributing to environmental conservation. Notably, in 2023, leading brands in Thailand launched rPET bottles made from recycled plastics, showcasing a commitment to sustainability. These innovations are possible only thanks to the government sector’s involvement in easing regulatory constraints, further enhancing Thailand’s readiness to adopt greener packaging designs.

Consumption:

Consumers play a critical role in household waste management, influencing the quality of postconsumer packaging feedstock and creating demand for sustainable alternatives. Continuous initiatives have been launched by the government, NGOs, and the private sector to raise awareness about waste segregation and shape consumer behaviors. Recycle Me Campaign is a good example of how brand owners, retailers, and recyclers collaborate to make recycling more accessible. The program, launched in 2021, encourages waste sorting from the start and offers prizes to participants, making recycling fun and engaging, suitable for Thai consumers’ preferences.

Post-Consumption:

Effective management of packaging during the post-consumption phase is crucial. This involves the collection, recycling, and disposal of post-consumer packaging materials, requiring

collaboration among multiple stakeholders. Collectors gather discarded packaging, while recyclers transform these materials into new products. The government supports this phase through robust regulatory and policy frameworks providing the necessary structure and oversight.

At this stage, producers also unite to support the collection of high-quality post-consumer packaging from the environment. Closing the loop requires financial assistance. One of PRO-Thailand Network’s goals is to test a practical collection model for Thailand to increase the collection of three types of post-consumer packaging, namely PET, beverage cartons, and multi-layer packaging by providing financial support to maximize collection and recycling rates. PRO-Thailand also strives to elevate recycling awareness and engagement among the public.

Moreover, NGOs play significant roles in promoting community engagement, while industry associations support policy advocacy and foster collaboration that benefits both businesses and the environment.

Conclusion

Several stakeholder groups have been making great efforts to drive packaging circularity across the value chain by gradually learning and crafting

models and initiatives to fit the specific context as much as possible. Tackling post-consumer packaging in Thailand requires a unique approach tailored to the country’s specific context. Collective effort is essential to creating sustainable packaging solutions that meet the demands of today and the challenges of tomorrow.

Ignace Corthouts is the President of ThaiNamthip Corporation, a bottling partner of The Coca-Cola Company and the leading beverage producer in Thailand since 1959. Ignace has extensive experience working in the beverage industry across continents. Under his leadership, ThaiNamthip has continued to grow its business, with an unwavering focus on customers, product portfolio, people development, and sustainability.

FEATURE Cutting Food Waste: How Mindful Leadership Transforms Hospitality

By Benjamin Lephilibert, LightBlue Consulting

It is 2024 and if you are in the hospitality and Food and Beverage business, you know food waste is more than just leftover scraps—it is a missed opportunity knocking at your door.

Understanding and addressing this issue is not merely a commendable practice; it is imperative for any forward-thinking leader.

Numbers Speak Louder: Understanding the Impacts

Did you know that only 3% of hotels and restaurants actively track their food waste? That is it. Here is why it is a problem: food waste can make up somewhere between 6-14% of your food revenue. Imagine saving up to 200,000 US dollars a year just by cutting food waste by about 3-5%. In an era where every penny counts, that is not just a change; it is a change that makes business sense.

Now, add to this the hefty price our planet pays. Agriculture contributes to 30% of man-made

greenhouse gas emissions with food waste accounting for its fair share of 8%. To put this into perspective, aviation accounts for 2.5% of CO2 emissions.

So, when someone asks, “Why bother reducing food waste?” the real question is, “Why not?” And here is why:

Data: Your Secret Weapon Against Waste

Do you think buffets are your biggest waste problem? Think again. Over five years of data collection, the study reveals that only 10-15% of waste comes from buffets. Most of the damage happens during the preparation phase and consumer plate. This is where good data can change the game. By tracking how much, when, where, why, and what is being wasted, you can pinpoint what the exact challenges are and address them accordingly. This is the kind of proactive action that sets leaders apart in this rapidly changing landscape.

Let us take a quick world tour—from Bali to Spain.

In an industry-wide experiment involving four hotels in Bali, a significant reduction in food waste was achieved: 98,621 kg of food was saved within just nine months. This initiative not only conserved resources but also led to financial savings of 340,815 US dollars. More impressively, it resulted in the prevention of 246,553 kg of CO2 emissions, underscoring the environmental benefits of food waste prevention strategies.

Similarly, in Spain, the experiment at one of the hotels led to a remarkable 27% reduction in food waste. This translated into savings of 123,149 US dollars and prevented 75,404 kg of CO2 emissions. Beyond the financial and environmental impacts, these experiments fostered a shift in workplace culture, enhancing team cohesion and raising awareness about the importance of sustainability.

These successes demonstrate the potential for scalable solutions in food waste management within the hospitality sector. The efforts also helped strengthen local consultancy groups, vital in spreading knowledge and skills related to sustainable practices. This collaborative approach not only enhances the capabilities within the local regions but also contributes to a global movement towards more sustainable hospitality management.

In discussions with hospitality leaders, it often becomes evident that many are not fully aware of the significant losses incurred from food waste. These experiments demonstrate that reducing waste is not merely about cost savings, it is

about contributing positively to the community and environment, aligning with the values of today’s conscientious consumers seeking responsible dining options.

Wrapping Up

Mindful leadership is not just about making decisions; it is about making sound business and sustainable decisions that drive tangible change. In the hospitality industry, tackling food waste through informed, proactive measures is not just an option; it is the future. It is leaders, like you, who can make that future a reality.

So, let us lead the change and make an impact that is as good for your business as it is for our planet.

Benjamin Lephilibert is the CEO of LightBlue Consulting & co-founder of The PLEDGE, a renowned food waste hacker leading global initiatives to prevent food waste in the hospitality industry.

Sustainable Practices in Thailand’s Culinary Scene

Daniel Bucher is the Executive Chef and Food Sustainability Manager at Topgolf Thailand.

Q1: How do you see the adoption of sustainable culinary practices evolving within Thailand’s hospitality industry?

“Thailand’s Culinary Evolution: A Sustainable Path Forward”

When considering the adoption of sustainable culinary practices in Thailand’s hospitality industry, it is essential to acknowledge the nuances within each practice. Over the past decade, we have witnessed a remarkable shift in the Thai culinary landscape regarding local ingredients.

“Thailand holds a unique position within Asia as a leader in tourism and hospitality.”

The movement to use homegrown produce over imported goods, championed by influential chefs and culinary figures, is gaining momentum and shows no signs of slowing down.

Waste management, however, presents a more complex challenge. It demands significant infrastructural changes to achieve widespread adoption of sustainable practices. Currently, tackling waste is a formidable task, requiring immense effort and substantial financial investment to make a meaningful impact. A major transformation in this area is likely years away without an aggressive policy intervention to accelerate the development.

Although there was promising progress in reducing plastic packaging, the pandemic led to a concerning setback. There has been a shift back towards convenient and disposable options. Nonetheless, sustainability remains a global buzzword, and Thailand is no exception. A considerable portion of spending in the hospitality sector comes from international travelers, particularly in the luxury segment. They often inquire about sustainability practices and ethical considerations.

Whether it is an independent eatery or a largescale MICE operation, the ability to address these concerns is paramount. The high-end market often sets the tone and dictates trends within the industry. Given the increasing demand for sustainable practices, I believe we will continue to see a shift towards more eco-conscious operations. Apparently, this is not a fleeting trend but a fundamental change in how the hospitality industry is conceptualized, planned, and executed.

Q2: What unique challenges and opportunities does Thailand present in terms of implementing and promoting sustainability in food services?

“Thailand: A Culinary Crossroads and Sustainability Catalyst”

Thailand holds a unique position within Asia as a leader in tourism and hospitality. This prominence presents both challenges and opportunities when it comes to advancing sustainability in the culinary realm. Our successes can pave the way for neighboring countries, demonstrating the viability of eco-conscious practices.

One significant challenge is the need for governmental support through financial incentives. Providing these incentives can help quantify the return on investment for initial sustainability efforts, encouraging broader adoption based on clear financial benefits. Without such support, many businesses may find it difficult to justify the upfront costs associated with sustainable practices.

Moreover, Thailand’s exceptional opportunity lies in its deep-rooted appreciation for good food. Few cultures place such a significant emphasis on culinary traditions and the sheer enjoyment of eating. This passion is coupled with a closeknit community of food producers, chefs, and restaurateurs who genuinely care about the impact of their choices on the environment, communities, and individual well-being.

Q3: How can the reduction of food waste in the hospitality industry significantly impact both the environment and business profitability?

“Reducing Food Waste: A Recipe for Environmental and Financial Success”

There are two main paths to a more sustainable business: reducing waste and extending the lifespan of investments. However, prioritizing longer shelf life in the food industry can compromise freshness and quality. This leaves us with one clear path: reducing waste.

The UN Environment Programme (UNEP)’s food waste hierarchy provides a framework for understanding waste reduction, but from a business profitability standpoint, it boils down to a simple principle: anything we do not buy, does not cost us money.

While diverting organic matter from landfills through composting, donations, and animal feed is important, the most significant impact on a business’s bottom line is reducing the amount of food purchased in the first place. This requires a deep understanding of what our customers truly value.

Often, businesses default to industry standards or ingrained habits, offering choices that may not resonate with their clientele. This is where a tailored approach comes in. By carefully analyzing our menu offerings and pricing, we can strategically determine what to offer and what to charge, ensuring both customer satisfaction and profitability.

Remember, hospitality is about understanding and serving our guests. For me, this means

focusing on what truly delights them, while eliminating anything that merely adds bulk or the illusion of choice. As a diner, I prefer restaurants that specialize in a specific cuisine or preparation, offering thoughtfully crafted, memorable dishes.

Think about the best meal you have ever had. Was it the sheer quantity of food, or was it the quality, the experience, the flavors that left a lasting impression? Ultimately, reducing food waste is not only an environmental imperative but also a recipe for creating a more profitable and fulfilling culinary experience for everyone involved. This is not another job on the Executive Chef’s table. It means strategically understanding the very core of what we offer in our specific business and supporting this mission wholeheartedly from the top down.

Q4: How do you foresee these trends shaping the future of the industry?

“The Future of Hospitality: A Sustainable Feast”

The reality of climate change is already impacting the food industry. From soaring cocoa prices triggered by crop failures in West Africa to skyrocketing vegetable costs due to extreme heat in Thailand, these events highlight the vulnerability of our food supply. We can expect these challenges to intensify, forcing both businesses and consumers to adapt.

Organizations like the Michelin Guide, with their introduction of the Green Star, are already recognizing and rewarding restaurants leading the charge in sustainability. As these considerations become more integrated into hospitality business models, the pace of change will accelerate.

Thankfully, we are not starting from scratch. Numerous innovative solutions have been developed, tested, and are ready for implementation. The false notion that we lack the knowledge or tools to address these issues must be dispelled. The hospitality industry possesses a unique superpower: the ability to understand and cater to human desires.

Our challenge is to leverage this skill to make sustainable choices that are not only viable but also desirable. No one enjoys being lectured or restricted, but everyone appreciates feeling cared for and having their needs met. By offering delicious, thoughtfully prepared food that aligns with ethical and environmental values, we can satisfy our guests’ desires while fostering a more sustainable food system.

Restaurants that embrace this ethos today are positioning themselves for success. They are the ones forging strong relationships with small producers, building resilient supply chains based on biodiversity, and crafting narratives that connect their customers to the origins of their food. By sharing these stories honestly and transparently, we can inspire trust and encourage consumers to embrace sustainable solutions.

The future of hospitality lies not in denying pleasure but in redefining it. It is about showcasing that sustainable choices can be just as—if not more— delicious, satisfying, and ultimately rewarding.

BOI Incentives for BEV Manufacture

By Kowit Somwaiya and Kanyapat Ratanawilas, LawPlus

To support Thailand’s transition towards a clean economy and development of an electric vehicles (EV) manufacturing hub, the Board of Investment (BOI) offers incentives for investment projects aimed at manufacturing battery electric vehicles (BEV) and BEV platforms in Thailand (Category 3.8).

Key Conditions

1. The investment proposal must be submitted as a comprehensive package covering the manufacture of batteries (either by the applicant or a third party), a plan to develop charging stations and battery swapping stations, and a plan to support local Thai suppliers through technology training and technical assistance.

2. BEVs sold in Thailand must comply with the relevant standards and specifications stipulated by the BOI.

3. Within three years from the date of promotion certificate issuance, the manufacture of BEVs and BEV platforms must commence, alongside the

manufacture of batteries from cell manufacturing process (for example, module or battery pack manufacturing).

4. One of the following key components must be manufactured within three years from the date of commencing BEV/BEV platform production: traction motor, battery management system, or driving control unit.

Key Incentives

1. For projects with a total investment capital (excluding land costs and working capital) of at least five billion baht

1.1 8-year corporate income tax (CIT) exemption, capped at 100% of total investment capital (excluding land costs and working capital).

1.2 Import duties exemption on machinery.

1.3 1-year import duties exemption on raw materials and essential materials for products manufactured for exports.

1.4 Non-tax incentives (such as permission to own land, bring in skilled workers and experts, and remit funds abroad in foreign currency).

2. For projects with a total investment capital (excluding land costs and working capital) below five billion baht

2.1 3-year CIT exemption, capped at 100% of total investment capital (excluding land costs and working capital).

• An additional 1-year CIT exemption per part if additional key components for BEV and/or BEV platforms (except batteries) are manufactured within three years of commencing BEV/BEV platform manufacture.

• An additional 1-year CIT exemption if the actual production of BEV and/or BEV Platforms exceeds 10,000 units/year within three years of commencing BEV/BEV platform manufacture.

2.2 Import duties exemption on machinery.

2.3 1-year import duties exemption on raw materials and essential materials for products manufactured for exports.

2.4 Non-tax incentives (such as permission to own land, bring in skilled workers and experts, and remit funds abroad in foreign currency). BEV manufacturing projects are also eligible for additional CIT exemptions under the BOI’s merit-based incentives.

With the Thai government’s goal of having zeroemission vehicles constitute up to 30% of the country’s total vehicle production by 2030, it

is expected that the BOI will continue offering investment incentives for EV manufacturing in Thailand for the foreseeable future.

Kowit Somwaiya is the Founder and Managing Partner of LawPlus Ltd. He has been ranked as a leading lawyer in Thailand and recommended by the Legal 500 and many other international legal profession publications for intellectual property, corporate, commercial, M&A, FDI, TMT, and data privacy.

Kanyapat Ratanawilas is a Senior Associate at LawPlus Ltd. She specializes in laws on technology, e-commerce, corporate and commercial, and employment matters.

A Letter from the Government Affairs Director’s Desk

Dear Members,

AMCHAM’s Government Affairs team concluded the first half of the year strongly by maintaining and establishing new and sustainable relationships with several government agencies. This success would not be possible without the support of our members. For the second half of the year, we plan to focus on high-level government engagement, including roundtable meetings with Ministers or Directors-Generals, and publishing the advocacy papers that several councils are currently working on.

The Thailand–U.S. Trade & Investment Conference held on May 30 and 31 was a great success. The Prime Minister acknowledged that AMCHAM’s Five to Thrive aligns with the Government’s policy and vision to stimulate economic growth. With his Ignite Thailand Vision, he emphasized that “Thailand is open for business, and there is no better time to do business or invest in Thailand right now.”

Prof. Dr. Surakiart Sathirathai followed the Prime Minister’s keynote address by alluding to the longstanding partnership between Thailand and the US. Despite many challenges, he highlighted five disruptions that Thailand is facing and how we can overcome these with our partnership. These disruptions include Technology Disruption, with AI potentially supplementing the workforce; Demographic Disruption, as Thailand enters an aging society; Pandemic Disruption, with lingering questions on access to medical treatment and health security; Environment Disruption, as we grapple with climate change; and Geopolitical Disruption, where economic war and trade competition foster uncertainty.

Prof. Dr. Surakiart asserted that these disruptions can be overcome with a strong partner like the US. The US’s advancements in technology can help elevate Thailand to a new level, especially in

the education sector with initiatives to reskill and upskill. He concluded his speech by stating that Thailand and the US must strive together amidst global turmoil.

AMCHAM is planning several high-level government engagements with the Ministry of Tourism & Sports, Ministry of Foreign Affairs, Ministry of Interior, Ministry of Finance, and more. We encourage you to share your feedback or concerns in the upcoming council meetings.

Jen Meckhayai Government Affairs Director

Meeting with Attorney Advisor at the Commercial Law Development Program (CLDP)

On May 27, AMCHAM Vice President Wiyada Srinaganand of 3M, along with AMCHAM Government Affairs Council Co-Chairs, Vanina Sucharitkul of Rajah & Tann and Kengkran Louvirojanakul of Diageo Moet Hennessy Thailand, as well as AMCHAM Government Affairs Director, Jen Meckhayai welcomed Esha Kamboj, an Attorney Advisor at the Commercial Law Development Program (CLDP) in the Office of the General Counsel of the U.S. Department of Commerce.

AMCHAM and the Attorney Advisor discussed advocacy strategies regarding cooperation with the Thai government, US businesses, and stakeholders to raise awareness and share knowledge about the significance and benefits of arbitration in Thailand.

Virtual Membership Meeting with the FDA

On Jun 10, AMCHAM Food & Agri-business Council Co-Chair Siradapat Ratanakorn of Tilleke & Gibbins together with AMCHAM members, joined a Virtual Meeting with the Food and Drug Administration (FDA), Jiraratana Thesasilpa, Food and Drug Technical Officer, Senior Professional Level. The purpose was to learn about the four new notifications from the Ministry of Public Health related to nutrition labeling, guideline daily amounts, health claims, and food supplements.

Officer Jiraratana provided comprehensive details on the four notifications, aiming to enhance food safety and security in Thailand.

Interested members can find presentation slides on MIC.

Virtual Membership Meeting with the Excise Department

On June 11, the AMCHAM Customs and Excise CoChairs led AMCHAM members in a virtual meeting with Nutthakorn Utensute, Principal Advisor on Excise Control System Development at the Excise Department.

Advisor Nutthakorn’s presentation covered the foundations of the potential Thai carbon tax structure. The presentation also included the three scopes of carbon emissions: direct emissions, indirect electricity emissions, and value chain emissions, which will be key sources of carbon tax for Thailand going forward. It is expected that the new carbon tax law will come with a grace period for industries to adjust.

In addition to the carbon tax, Advisor Nutthakorn provided brief updates on the current excise tax

structures for petroleum and petroleum products, alcoholic beverages, tobacco products, nonalcoholic beverages, and new automobiles.

The session concluded with a question-andanswer session.

Interested members can find the presentation slides on the MIC.

C.P. Group ranked in Top 5% of the world in the Sustainability Yearbook 2024 by S&P Global for the 3rd consecutive year

C.P. Group has been ranked in the top 5% of the wor internationally recognized by S&P Global, placing 2nd overall in the Industrial Conglomerates sector. The Group excelled in environmental leadership, and achieved the highest scores in 7 categories. This global recognition reflects the company’s continuous commitment to deliver sustainable development and value to all stakeholders.

Committed to advance its sustainability agenda, C.P. Group is determined to achieve three main objectives:

Leading the organization towards Carbon Neutrality (Scope 1 and 2) by 2030, and Net Zero by 2050.

Ensuring Zero Waste to Landfill.

Supporting 50 million people to receive quality education.

Roundtable Meeting with the Ministry of Industry

On Jun 13, AMCHAM met with representatives from the Office of Industrial Economics, Department of Industrial Works, and Office of Permanent Secretary under the Ministry of Industry. The meeting was led by AMCHAM President Ornkanya (Mook) Pibuldham of Bank of America and AMCHAM manufacturing co-chairs.

The Ministry of Industry representatives provided insights into Thailand’s industrial development and the transition to Industry 4.0 under the national plans. They discussed the Ministry’s collaborations with the public and private sectors to promote the transition and attract foreign direct investment, the compliance of factories with nuisance laws, and promotional measures to support Thailand’s Net Zero goal, such as the new Recycle Real Estate initiative. AMCHAM highlighted its commitment to supporting the Ministry, including providing high-technology and knowledge transfer, and expertise for the regulation formation process. The meeting concluded with potential future collaborations and action items to further these initiatives.

Member Luncheon with the Ministry of Industry

Speakers: Chalee Khansiri, Director of International Industrial Economics Division, Office of Industrial Economics, Ministry of Industry and AMCHAM Vice President Peerasak Gamonsugosol, Chief Commercial Officer-Asia and President Thailand and Vietnam of Honeywell.

Event Highlights:

In a Fireside chat at the June member luncheon, Director Chalee and Khun Peerasak discussed policies that the Ministry of Industry has been implementing to drive Thailand’s Industrial Transformation. They also discussed the Ministry’s pivotal role in IPEF negotiations and achieving regional and global supply chain resilience. A roundtable meeting preceded the luncheon.

AMERICAN CHAMBER OF COMMERCE IN THAILAND FOUNDATION (ATF)

ABOUT US

Education has been a core value for AMCHAM since the very beginning of the Chamber. Over the last three decades, AMCHAM has provided over 3,200 scholarships and supported over 890 primary schools.

In 2004, AMCHAM formally registered the American Chamber of Commerce in Thailand Foundation (ATF) to carry out its charitable activities. The ATF is recognized by the Ministry of Finance as a Public Charitable Organization (number 632) and donations are deductible in Thailand.

AMCHAM FOUNDATION SCHOLARSHIP PROGRAM

Each year ATF enables disadvantaged Thai university and vocational students to complete their higher eductation studies through targeted scholarships. Our Community Engagement Council works directly with universities and vocational colleges to identify hard-working and motivated students enrolled in programs championed by AMCHAM member companies

HOW YOU CAN SUPPORT THESE PROGRAMS

Sponsor university scholarship

Provide speakers and goodie bag items for Orientation/Career Camps Join the Community Projects Council

For further information, contact foundation@amchamthailand com

Peerasak Gamonsugosol is the Chief Commercial Officer of Honeywell Asia and the President of Honeywell Thailand, Vietnam & Indochina, and serves as AMCHAM’s Vice President on the Board of Governors.

What are your goals for 2024 as an AMCHAM Board Governors?

My primary goal is to facilitate the development of commerce between the U.S. and Thailand. I would also like to leverage Honeywell’s expertise in Aerospace & Defense, Automation and Smart Cities Building, Refining and Petrochemical Technologies, Retail Solutions, especially Sustainable Technology Solutions, combining them with the capabilities of the members’ companies to elevate the US company contributions for Thailand’s success as a leading country in Southeast Asia.

Why is ESG commitment important in business, and what are one challenge and one benefit within the Thai business context?

ESG commitment is crucial in business for several reasons, for instance, risk management, longterm sustainability, investor attraction, reputation enhancement, innovation and efficiency,

and compliance & legal requirements. ESG commitment is not just about meeting societal expectations; it is also about creating a sustainable and resilient business model that can thrive in a rapidly changing world.

Investors are placing greater emphasis on sustainability, fairness, and transparency, creating opportunities for ESG-focused nations. Thailand as a country that relies on FDI can attract more investment with strong ESG practices. We can be seen as a lower-risk country that is a more responsible steward of resources.

What is your favorite part of being a part of the AMCHAM leadership?

Networking, learning from other great AMCHAM leaders, and playing my part in helping to drive the success of Thailand, AMCHAM, and its member companies.

HELPING MAKE SUSTAINABLE MORE ATTAINABLE NOW

We are ready now with an array of solutions ranging from sustainable aviation fuels to battery energy storage systems

LEARN MORE

Meet Nattawut (Netflix) Preechachan

“The AMCHAM scholarship represents far more than just financial aid; it serves as the beacon guiding my journey towards a brighter future, igniting within me a fervent dedication to education and community empowerment.”

Hello, I am Nattawut Preechachan, a fourth-year student at Prince of Songkhla University, majoring in Aviation Industry and Hospitality Management. Currently, I am on an enriching journey as an international exchange student at the University of the Philippines Diliman.

My dream journey stems from my unique background and diverse experiences. My ultimate aspiration is to give back to the society meaningfully, envisioning myself as a professor at a Thai university. I am deeply grateful for the scholarships that have supported my journey. The path to becoming a professor has been challenging, instilling in me a profound sense of responsibility and purpose. For me, being a professor goes beyond imparting knowledge; it is about nurturing and developing students to reach their fullest potential. I aim to leverage my skills and experiences to foster environments where the students can thrive and excel.

The AMCHAM scholarship is not just a scholarship but serves as a beacon of hope for my future, igniting within me a fervent dedication to education and community empowerment. Over the course of three years as a recipient of the prestigious AMCHAM scholarship, I have diligently pursued academic excellence while actively engaging in initiatives aimed at enhancing and uplifting my community.

As an AMCHAM scholarship recipient, I had the chance to participate in the Career Camp, a valuable opportunity for students in their final year. This program aimed to prepare us for the transition into the workforce upon graduation, offering a comprehensive array of experiences. Firstly, we visited AMCHAM member companies, gaining insights into their operations and valuable hands-on experience through interactions with industry professionals. Secondly, we attended

a resume workshop, where representatives from prominent companies guided us in crafting effective resumes tailored for job applications. Thirdly, the workshop sessions include guest speakers sharing exclusive insights and advice to help us navigate our future careers. The interview preparation session conducted by AMCHAM member companies left a lasting impression on me. As job interviews can be challenging, this session provided us with invaluable tips and techniques to boost our confidence and readiness for the job market. Overall, the Career Camp played a significant role in enhancing our preparedness and confidence as we embarked on our professional journeys.

In addition to my academic pursuits, I have taken on various leadership roles, including serving as a UNICEF volunteer leader, President of the Academic and International Language Club, and Vice President of the International Culture Exchange Club. Moreover, I have consistently participated in projects organized by numerous non-governmental organizations, focusing on environmental conservation, social welfare, and education. I take great pride in my ability to contribute meaningfully to the betterment of society, leveraging my scholarship as a platform to extend assistance and opportunities to others in need.

Finally, I want to share a message with everyone: “Effort never betrays you.” Success may not come today or tomorrow, but with persistent effort, you will achieve your goals one day. Every effort you put in shapes you into a better version of yourself, even when you may not realize it.

Thailand-U.S. Trade & Investment Conference 2024

On May 30-31, the Thailand - U.S. Trade & Investment Conference 2024, hosted by the American Chamber of Commerce in Thailand (AMCHAM), the Thai Chamber of Commerce, and the U.S. Chamber of Commerce, brought together a diverse audience of decision-makers from U.S. investors and leading Thai corporations, along with key counterparts from Thai and U.S. government agencies.

“Thailand is open and ready to be your trusted economic partner,” announced Prime Minister H.E. Srettha Thavisin in his keynote address. “My government is committed to proactively engaging with the U.S., bilaterally and through Indo-Pacific Economic Framework, to bring more partnerships and investment, and to address modern challenges for our mutual interest.” Following his remarks, U.S. Deputy Secretary of State Kurt Campbell and Chargé d’Affaires Gwendolyn Cardno from the U.S. Embassy in Bangkok both addressed the audience, underscoring the importance of the strategic partnership between the two nations. Former Deputy Prime Minister and Minister of Foreign Affairs Professor Dr. Surakiart Sathirathai energized the audience with a keynote speech covering AI, climate change, and human development.

The conference facilitated in-depth discussions on policy and investment opportunities, emphasizing digital innovation, energy transition, sustainability, and human resources development. Networking sessions allowed participants to forge valuable connections and collaborate on future initiatives.

This conference reinforced the strong economic ties between Thailand and the U.S. and laid the groundwork for future cooperation and investment.

Signature Event

Governors’ Table at The Athenee Hotel – May 16

Hosts: Chatit Huayhontong of Chevron; Peerasak Gamonsugosol of Honeywell Systems; Asama (Prae) Dumrongmongcolgul of Meta.

Event Highlights:

The AMCHAM Board of Governors hosted an executive dinner for AMCHAM members at the Governors’ Table, connecting leaders from diverse business sectors and building relationships during the leisurely dinner at The Athenee Hotel.

Joint

AmCham

Event Opportunity ASEAN Webinar Series: Malaysia & Indonesia – May 16

Speakers: Siobhan Das of AMCHAM Malaysia and Lydia Ruddy of AmCham Indonesia

Event Highlights:

AMCHAM Thailand hosted the first Opportunity ASEAN Webinar, featuring investment opportunities from AMCHAM Malaysia and AMCHAM Indonesia. Siobhan Das of AMCHAM Malaysia and Lydia Ruddy of AMCHAM Indonesia discussed their countries’ social and economic landscapes, highlighting key industries for investment. They emphasized the alignment with national strategic plans and government collaboration to enhance business environments. A detailed question-and-answer session provided further insights into economic opportunities and how AmChams’ support US businesses in the region.

SERENITY AWAITS AT

KOH LANTA

Manufacturing Committee

Site Visit to COBRA International – May 17

Organized by: Manufacturing Committee

Event Highlights:

AMCHAM members participated in a factory visit to COBRA International Company Limited. The program started with a comprehensive safety and protocol briefing and an insightful introduction to COBRA International Company Limited. Afterwards, members were guided on a fascinating tour, providing them with an up-close look at operations and technologies used to create surfboards, wind surfs, and eFoils.

Manufacturing Committee

Site Visit to Harley-Davidson Motor Company – May 17

Organized by: Manufacturing Committee

Event Highlights:

AMCHAM members participated in a factory visit to Harley-Davidson Motor Company located in Rayong. The program started with a safety briefing and an insightful introduction to Harley-Davidson. Members were taken on an exciting tour, giving an exclusive look at the latest Harley-Davidson motorcycle model.

Joint Committees

Auto EV Industry Updates & Thailand’s Talent Readiness for the EV Sector – May 17

Speakers: Asst. Prof. Dr. Nayot Kurukitkoson of EEC; Krisda UtamoteKrisda Utamote of BMW Group Thailand; and Dr. Al Damrawy of Alternative Mobility (“E & H2”. Automotive Technology)

Organized by: Auto Council, HR Committee, and Manufacturing Committee

Event Highlights:

The AMCHAM Auto Council, HR Committee, and Manufacturing Committee hosted an event Auto EV Industry Updates & Thailand’s Talent Readiness for the EV Sector with industry experts. Speakers did a dive into practical strategies for EV conversion and global trends in sustainable transportation. They shared insights on human development within the Eastern Seaboard, highlighting how educational reforms and government support are shaping the region’s future.

This allowed participants to gain a deeper understanding of the industry while establishing meaningful connections with fellow participants. Click

Signature Event

Multi-Chamber Eastern Seaboard Networking Hosted by AMCHAM – May 17

Event Highlights:

The American Chamber of Commerce in Thailand (AMCHAM) hosted the Multi-Chamber Eastern Seaboard Networking event at Hilton Pattaya, in cooperation with AustCham, BCCT, BeLuThai, CanCham, FTCC, GTCC, ITCC, NTCC, SATCC, and STCC. The event provided members from Bangkok and the Eastern Seaboard a valuable opportunity to expand their networks and establish business connections.

Prior to the networking event, the AMCHAM Auto Council, HR Committee, and Manufacturing Committee hosted the Auto EV Industry Updates & Thailand’s Talent Readiness for the EV Sector.

Corporate Social Impact Committee

2024 AMCHAM Corporate Social Impact Awards Information Session

– June 7

Organized by: Corporate Social Impact Committee

Event Highlights:

AMCHAM hosted the Corporate Social impact Awards information Session. The program was designed for the members to gain a deep understanding of the 2024 Corporate Social Impact Award’s themes and special awards categories, submission process and questionnaires, and judging criteria.

Joint Committees

Preparing Students for Skills of the Future – Jun 12

Speakers: Matthew Greenburg of Agoda; Supathra Kuratana of JacksonGrant; and Krishaan Phlaphongpanich of Bangkok Patana School

Organized by: HR Committee and Education Committee

Event Highlights:

AMCHAM HR and Education Committees hosted a panel discussion on preparing students for future skills, covering both soft and hard skills required for Thailand’s future workforce. Key topics included communication, critical thinking, a growth mindset, emotional intelligence (EQ), the vocational school pathway, and the importance of STEM-oriented education. The question-and-answer session addressed how AI can enhance educational skills and the future workforce, along with the role of Thai socio-cultural awareness in shaping future skilled labor.

TAGTHAi Launches Chao Phraya River Pass to Promote the Growth of Tourism in Thailand

TAGTHAi, in collaboration with its corporate alliances, unveils the Chao Phraya River Pass, bolstering culture-based tourism along the Chao Phraya River in alignment with the domestic tourism market stimulus program.

Integrating land and water travel, the pass facilitates seamless exploration of landmarks

around Koh Rattanakosin, enhancing visitors’ convenience. Thiratida Kuvantrarai, CEO of Thai Digital Platform Social Enterprise Company Limited, underscores the company’s commitment to supporting Thailand’s tourism sector, aligning with the Tourism Authority of Thailand’s goal of attracting 35 million tourists.

Key activities include visit to landmarks around Koh Rattanakosin, such as the Grand Palace, the Temple of the Emerald Buddha, the City Pillar Shrine, the Golden Mount, and Metal Castle via Tuk TukHop. Visitors can learn cultural experiences by the river and have the opportunity to wear Thai dresses for photo shoots at Wat Arun.

TAGTHAi is a collaboration platform between the Thai Government and the private sector aimed at making travel in Thailand simple, convenient, and responsive to the needs of various types of the travelers including lifestyles, preferences, and languages based on locals’ recommendations.

IBCP at Bangkok Patana

Bangkok Patana School will offer the IB Careerrelated Programme (IBCP) alongside the IB Diploma Programme (IBDP) starting August 2024. This addition enriches their offerings for Years 12 and 13, enabling students to delve deep into subjects they are passionate about. The inaugural IBCP cohort will focus on a specialized Visual Art pathway comprising two IB courses, a BTEC International Level 3 Diploma in Art and Designand the IBCP core curriculum. This marks the beginning of a broader range of pathways and specializations aimed to be introduced through the IBCP in the future.

Bangkok Patana School is eager to continue building links to the world of Art and Design, either in Thailand or further afield to enhance their program.

EXPERIENCE THE QUINTESSENCE OF LUXURY

With an unrivalled blend of sophistication, indulgence and unbeatable convenience, The Okura Prestige Bangkok caters seamlessly to the discerning needs of both corporate jet-setters and holidaymakers.

Situated in the heart of the city, The Okura Prestige Bangkok is an ideal choice for both business and leisure travelers, providing direct access to Bangkok SkyTrain (BTS) – Phloen Chit station and just a few steps away from Central Embassy, one of Bangkok’s most luxurious retail landmarks, and close to the embassies of the United States and Japan.

The hotel’s esteemed Michelin one-star restaurant, Elements, inspired by Ciel Bleu, has held this distinguished honour with pride since 2018.

Welcome New Members

CORPORATE MEMBERS

Manufacturing and export of Parle brand biscuits, cookies, and crackers. Parle Products has been India’s largest manufacturer of biscuits and confectionery, for almost 90 years. Makers of the world’s largest-selling biscuit, Parle-G, and a host of other very popular brands, the Parle name symbolizes quality, nutrition, and great taste.

APP Estate stands for Architectural and Property Projects, aimed to provide comprehensive service for property development under a certain scale while accommodating the dynamic demands of future growth. The team has expertise in architectural, interior, and landscape design, as well as structural and M/E design engineering, with a keen perspective on green design.

For more than 90 years, Baxter International has been operating at the critical intersection where innovations that save and sustain lives meet the healthcare providers who make it happen. With products, digital health solutions, and therapies available in more than 100 countries, Baxter’s employees worldwide are now building upon the company’s rich heritage of medical breakthroughs to advance the next generation of transformative healthcare innovations.

Grab is Southeast Asia’s leading super app, offering a suite of services consisting of deliveries, mobility, financial services, enterprise, and others. Grabbers come from all over the world, united by a common mission: to drive Southeast Asia forward by creating economic empowerment for everyone.

In the vibrant city of Khon Kaen, Thailand, Joy and Vic have established ‘JoyandVic Petshop’ – a pet emporium that is more than just a business; it is a passion project. The store offers a carefully selected range of premium pet food and toys to cater to the needs of furry companions.

June 2024

The company was established in 1994 and has been operating longest among Japanese-affiliated recruitment agencies in Thailand, specializing in job placement for Japanese and Thai candidates. They maintain longstanding relationships with many clients and assist in recruiting with a focus on the future of both the client companies and the job seekers.

Rilco Manufacturing Company is a world leader in the development of preinsulated supports and components for piping. The company began as a small pipe insulation facility in 1972 and has experienced exponential growth due to the high quality of products, consistent on-time deliveries, and innovative designs from their engineering department.

Techsauce is a leading source of all tech and business news in Thailand and Southeast Asia. The company combines expertise in media, events, and community. With a mission to drive Southeast Asia’s startup ecosystem, they are also creating the first global startup summit, Techsauce Global Summit.

Corporate Membership is available to all companies registered in Thailand. If you are interested in joining the AMCHAM member network please contact us at mew@amchamthailand.com

Thailand’s Largest Homegrown Coworking Space, The Urban Office, Expands Further in the Heart of Asoke

Award-winning Thai-owned premium coworking brand builds on its rapid success, launching its 4th hybrid coworking space at the beautifully appointed Quant Sukhumvit 25 Grade A, low rise building in bustling Asoke

The Urban Office, Thailand’s homegrown powerhouse in the nation’s fast expanding coworking scene, builds upon the rapid success of its first three locations with the launch of its latest premium space at Quant Sukhumvit 25 With expansive glass perspectives floor to ceiling, the newest addition to The Urban Office family provides startups, SMEs, and even larger companies an unparalleled and integrated view of Bangkok’s bustling central business district amidst the superior comfort and quality of ergonomic design built to the highest

g space in the development occupying the entire sixth floor, The Urban Office at Quant Sukhumvit 25 is designed to support at every stage of a company’s growth journey in Thailand. Aligned with the brand’s promise to deliver more than just a ‘place to work,’ visitors and members of The Urban Office at Quant Sukhumvit 25 will enjoy shared coworking spaces, instant serviced offices, virtual office solutions, on demand meeting room rentals, cozy breakout lounges and private phone booths all supported by advanced IT network infrastructure, blazing-fast WiFi, VoIP telephony services and a suite of flexible workspace, and enterprise solutions.

Further, members of The Urban Office gain exclusive access to a comprehensive suite of support services to aid in company setup and power ongoing growth From essential legal and accounting services for company formation, to more complex admin support, and even business partnership assistance through networking events and a strong community of startup entrepreneurs, members are fully supported to launch successful ventures and scale them to the next level.

Strategically situated close to BTS Asoke and MRT Sukhumvit, Quant Sukhumvit 25 offers unparalleled access to a neighborhood of nationally and internationally renowned companies. This location is also a key transit hub with nearby freeways, major banks, luxury shopping and premium hotels, as well as Asoke's famed dining and entertainment scene

This latest strategic expansion marks a significant milestone for both The Urban Office and the burgeoning startup ecosystem in Bangkok In 2023, Thailand's startup ecosystem experienced a significant surge, welcoming over 1,000 new startups onto the scene. As of this year, Thailand has around 2,100 startups in both pre-seed stage and ready-to-go stage Speaking to the growing needs of the market, The Urban Office’s Co-Founder and Managing Director, Ms Trinh Danh, said, "With new startups launching at a rapid rate, emerging businesses seek more than just office space They need an environment that fosters innovation, as well as access to potential clients, investors, partnerships, business events, networking opportunities, and other startup resources – and that is the vision that The Urban Office was built on ” The Urban Office offers flexible workspaces that adapt to changing lifestyles With four locations in Bangkok’s Central Business Districts, The Urban Office offers a tech-infused coworking community that was voted as the Best Coworking Space Startup in Thailand in 2019, 2022 and 2023

How important is mangrove conservation for carbon sequestration efforts?

Initiated by Dow Thailand, in collaboration with the Department of Marine and Coastal Resources, and private and NGO partners, the Dow & Thailand Mangrove Alliance addresses climate change and marine debris by restoring and conserving mangrove forests along the Thai coastline starting in Rayong area and extending to other provinces. By planting trees, promoting sustainable practices and eco-tourism, and collecting waste from the mangrove area, the project aims to reduce global warming, stop plastic waste from entering the environment, and engage youth and local communities in environmental protection.