T-AB August Issue

T-AB

INSIDE THIS ISSUE:

THE FUTURE OF SUSTAINABLE BEVERAGES: TRENDS AND INSIGHTS

ROUNDTABLE MEETING WITH SECRETARY GENERAL OF EEC

AAP 2023 WASHINGTON DOOR KNOCK

WHEN THE WASHING IS STILL GREEN

THAI-AMERICAN

FOR THE LOVE OF thriving,

AMCHAM BOARD OF GOVERNORS 2023

PRESIDENT

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

VICE PRESIDENTS

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

Piangruetai Sivaratana, Seagate Technology

BOARD ADVISORS

David Lyman, Tilleke & Gibbins

AMCHAM President in 1975, 1986

EXECUTIVE DIRECTOR

Gallant

Dear Members, I hope all of you have enjoyed your summer holidays and are as excited as we are to launch into a busy fall.

In July, AMCHAM representatives attended the annual Washington D.C. Doorknock together with

the AmChams of the Asia Pacific (AAP) delegation, where we met with legislators on Capitol Hill and other policymakers to discuss trade issues and advocate on behalf of businesses operating in this region.

We also partnered with the Bangkok Metropolitan Administration (BMA) to launch the Sustainable Digital Classroom project together with Google for Education. AMCHAM members have already raised their hands to donate used laptops which will be refitted by Google and put to much needed use in public classrooms throughout Bangkok. You’ll be hearing more about this initiative from us in the coming months, and I encourage anyone who is interested in participating to contact us.

As we wait for the new government to form, our Government Affairs team is keeping busy with steady level of engagements with government agencies and keeping members updated through our Friday news briefings. Our AMCHAM Councils are drafting a number of recommendation papers, with the aim to be ready to share these as soon as the new administration is settled. If you are interested in these activities, the team and I are at your service to help you get involved.

As always, I encourage you to keep a close eye on our calendar. Over the next few months, we’ll host our Golf Tournament, AGM, Corporate Social Impact Award Ceremony, Eggnog Party, Member Luncheons and Governor’s Table dinners, but we will also have some new things for you to enjoy. Watch for our email to see us collaborating with other business associations, giving members an even wider pool of executives to add to their network.

Sincerely,

Heidi Gallant

Executive Director

The Future of Sustainable Beverages: Trends and Insights

By Khachiphan Bunsiri, Harmless Harvest

With the rising awareness of health and wellness across all generations, beverages are considered completely discretionary. People now prioritize clean drinking water for hydration and avoid beverages that contain unnecessary sugar, additives, or flavorings. Therefore, it is crucial for beverages to offer meaningful functionality along with excellent taste. For instance, natural coconut water provides hydration and refreshment, kombucha promotes digestive health, and herbal shots can offer immune support. In the United States, some recently successful functional beverage brands, such as Olipop, Vive, and Suja have transitioned from niche to the mainstream market. To develop new products and stay on top

of the latest trends, beverage companies need to be vigilant in staying up with emerging trends at the right time.

In addition to product innovations, consumers are increasingly demanding sustainable brands and considering the societal and environmental impact of their purchasing decisions. This has led to a recent business trend across various sectors, where companies strive to develop profitable brands that also address social and environmental problems.

One key sustainability trend that captures the attention of beverage consumers is the shift away from plastic. Consumer research conducted by companies reveals that plastic packaging consistently ranks among the top consumer complaints. Since packaging is an integral part of the product that consumers directly experience and compare with other products on the shelf, beverage companies must stay updated on sustainable packaging innovations that align with their products.

Another global sustainability priority for beverage companies revolves around climate change. The food and beverage industry alone accounts

for more than one-fourth of global emissions1. When breaking down the emissions from food and beverage production, major sources include agricultural commodities, waste management, energy consumption, transportation and distribution, and packaging. Moreover, the detrimental impact of climate change poses a significant threat to food security and livelihoods of farmers around the world.

Regenerative Agriculture for Sustainable Food Production

Since the Green Revolution, conventional agriculture has proved its efficiency in highyield production to feed the growing population. However, it also leads to other issues such as GHG emissions, soil degradation, loss of biodiversity, and environmental contamination which hinder long-term food security.

The recent sustainable farming movement in the US introduces ‘regenerative agriculture’ which was built upon organic farming principles. The concept focuses on restoring soil health, promoting local biodiversity, and recycling of farm resources. Key practice in regenerative farming includes minimizing soil disturbance, keeping soil covered, maintaining living roots all year-round, integrating animals, and maximizing species diversity. When implemented robustly, regenerative

farming systems not only enhances a farm’s climate resiliency but also has the potential to reverse climate change2 through soil carbon sequestration. Due to the wide range of environmental impacts, many large food and beverage companies are embracing regenerative agriculture to achieve corporate carbon reduction and sustainable sourcing.

Partnerships for Change in Thai Agriculture

The increasing demand of organic and sustainably sourced products together with the warning from scientists on the El Niño event could impact Thailand’s future agricultural trade. Conventionally farmed products, especially those targeting US and EU markets, may lose their competitiveness while farms and agricultural supply chains may be vulnerable to disruptions caused by severe drought and extreme heat.

In order to confront these market and climate challenges, farmers and agricultural businesses in Thailand must adapt and prepare. Regenerative agriculture could be a crucial solution to support the country’s agricultural sector. Nonetheless, the majority of Thai farmers still practice conventional farming methods and lack awareness of the concept of regenerative farming. An effective campaign is needed to prompt immediate change among Thai farmers, encouraging them to adopt regenerative farming practices and restore their farm ecosystem before the adverse effects of climate change become irreversible.

Business, development organizations, and the government need to align their policies and business strategy and effectively communicate the shared message to farmers. Companies could consider establishing formal partnerships to strengthen their commitment to promoting positive change in the industry and engaging a wide range of stakeholders such as academy, relevant government units, international experts, community leaders to identify suitable approach and solutions for different stages of project implementation. Each partner’s expertise and funding can provide necessary support to farmers, such as knowledge packages and farm inputs, ultimately leading to transformative changes on the farms. An example of such an initiative is the Regenerative Coconut Agriculture Project (ReCAP), which introduces regenerative farming concept to coconut farmers in central Thailand, promoting sustainable practices such as cover cropping, integrating stingless bees, or producing compost from farm residue.

An essential approach to successfully convincing smallholder farmers to adopt or invest in new practices is to share successful case studies from their peers or farmer influencers. Companies can identify farmer leaders or pioneer farmers and support them with knowledge and necessary input to test the new practices. While it may take a few years to see the successful outcomes, these farmers can serve as influential advocates, speaking from their own experiences and effortlessly convincing other farmers to follow suit.

Conclusion

Food and beverage companies need to adapt to consumers’ trends, which are leaning towards

healthier and more environmentally friendly products. While at the same time they want to remain competitive while working with farmers to promote sustainable farming, ensuring it’s a longterm supply chain of agricultural raw materials, and reducing their environmental footprint. Regenerative organic agriculture, which is a new trend among the food and beverage sector could be the solution to both marketing and climate challenges. However, the slow adoption of sustainable farming practices by farmers poses a threat to the industry. Therefore, a cross-sector partnership and the inclusion of a wide range of stakeholders are needed to transform Thai agriculture and ensure resilience in the sector.

References:

• Our World in Data. (2022) Emissions by Sector, accessed May 27, 2023

• Rodale’s Institute. (2020) - Regenerative Agriculture and the Soil Carbon Solution [White paper].

• The Nation - (January 20, 2023) Thailand is now the world’s 13th largest exporter of agricultural products. [accessed July 17, 2023]

Khachiphan (Wawa) Bunsiri is a sustainability manager at Harmless Harvest leading corporate sustainability strategy and regenerative agriculture partnership project.

HIGH DENSITY FOR HYPERSCALE

Sustainable Growth: Electrification and the Rise of ESG in Thailand’s Manufacturing

By Dennis Meseroll and Sarah Urtz, Tractus

Recent years have witnessed a trend of corporations prioritizing environmental, social and governance (ESG) factors in their operations. This has propelled ESG into the spotlight as a framework for companies seeking to align their business practices with sustainability and social responsibility. Thailand finds itself significantly impacted in the environmental realm, as its leaders, businesses, and consumers increasingly seek to address climate change and foster a more sustainable future.

Manufacturing is Prioritizing the “E” in ESG

Thailand’s industrial sector, a key force of the country’s economy and a major contributor to greenhouse gas emissions, plays a pivotal role in accelerating the country’s adoption of sustainable practices. As companies look to integrate sustainability into their business operations and investment decisions, the country’s manufacturing landscape is undergoing considerable change.

Until recently, industrial site selection decisions have relied on evaluating options based on traditional factors such as workforce availability, quality of local suppliers, level of bureaucracy, and “ease of doing business” issues, as well as investment and operating costs and risks. However, as sustainability gains prominence, ESG considerations have emerged as a focal point in manufacturing location decisions. Responding to shifts in government policy and consumer demand, boards and executive leadership are more frequently requiring that manufacturing locations support the achievement of their sustainability and ethical business practice objectives. Environmental factors, such as the renewable energy composition of the existing electrical grid, the ability to invest in wholly owned and co-located solar power generation, and wastewater treatment options that fully meet local requirements, have become particularly critical in site selection decisions.

Manufacturers across sectors are also making incremental investments in existing operations to meet sustainability goals, incorporating renewable energy sources where possible, and taking advantage of government subsidy and incentive programs that promote improved energy efficiency and sustainability investments across their supply chains. As a key example, Thailand’s export-driven automotive industry is witnessing change, not only in where large players are locating their investments, but also in the sustainability of the investments themselves, as major original equipment manufacturers (OEMs) begin to shift their existing production capacity from internal combustion engines (ICE) to electric vehicles (EVs) and invest in new Greenfield EV assembly plants.

Accelerating the Sustainability Shift through Effective Policy

Government regulations and incentives have played a crucial role in driving this change. Last year, the Thai government announced an ambitious goal to cut emissions by 30-40% by 2030, on its path to achieving carbon neutrality by 2050. It also revised its Long-Term Low Greenhouse Gas Emissions Development Strategy

to further guide efforts in addressing emissions and promoted the development of its Bio-CircularGreen (BCG) economic model. In industrial zones specifically, the Ministry of Natural Resources and Environment is implementing stricter air-emission standards.

In addition to policy changes, Thailand heavily relies on incentives to spur sustainable investment. To support the implementation of the BCG model, the country’s Board of Investment (BOI) offers a range of incentives to new investors and existing businesses, such as tax exemptions and reductions and other non-tax privileges. These incentives encourage companies to adopt sustainable practices, invest in green technologies, and contribute to Thailand’s vision of becoming a model economy for green energy and sustainability. These incentives include exemptions or reductions on corporate income tax for up to ten years, import duty exemptions on capital equipment and raw materials, and even utility benefits and other cost subsidies for eligible companies. Furthermore, non-tax incentives such as a streamlined process for approving work permits for foreign nationals, the ability to own freehold title to land, and simplified procedures for remitting dividends are also available.

Bio-Circular-Green (BCG) Model

Thailand Has Begun to Transition the Automotive Industry to EVs

While current incentives have already begun to stimulate more sustainable investment, the most effective packages for achieving Thailand’s goals will combine eco-friendly manufacturing sites with environmentally sustainable industries, a concept that is particularly salient for the numerous players in the Kingdom’s robust automotive industry. Already Southeast Asia’s leading car manufacturing location and the 10th largest automotive-producing country in the world, Thailand aims to become a regional hub for EV production.

In addition to other sustainability incentives, the BOI offers attractive incentives to both manufacturers and consumers in the automotive industry to support this transition towards EVs. Tax and non-tax incentives across the entire EV value chain are aimed at lowering the cost of EVs for both manufacturers and consumers while stimulating demand. Qualified businesses may receive exemptions on corporate income tax for up to eight years, while buyers of EVs can qualify for subsidies of up to 150,000 Baht (4,545 US dollars) per vehicle.

Numerous companies are already planning to take advantage of these incentive programs, with leading global EV producers announcing plans for large-scale investments in Thailand.

Finding the Right EV Assembly Site Can be Challenging

As Thailand positions itself as a hub for EV production its strength as a major global ICE vehicle manufacturing location has given it a significant head start. Outside of the automotive sector it remains an attractive option for many advanced manufacturers looking to diversify their investments outside of China.

However, challenges including limited availability of mega-sites in Thailand’s Eastern Economic Corridor (EEC) and time constraints for new industrial estate development must be addressed to meet companies’ investment needs and schedules. Mega-sites suitable for automotive assembly operations should provide room for

firms interested in investing in their own solar power generation capacity and be zoned to permit both activities to be co-located. Additionally, ensuring adequate water supply for production is becoming a challenge, as the EEC’s rapid industrial development and corresponding population growth propels demand for this resource. While Thailand continues to tackle these issues and remains at the top of the list of countries to be considered as an EV assembly location, the devil in any site location decision is in the details.

Regardless of the industry, investors must gain a thorough understanding of how they can maximize government support and leverage the benefits provided by BOI to accelerate change, meet Thailand’s climate and EV goals, and ensure their investments are positioned for long-term success.

is the

Asia and leads location strategy and site selection services, helping clients decide where to locate manufacturing, services, and headquarters across Asia.

Dennis Meseroll

Executive Director of Tractus

Sarah Urtz is the Senior Research Analyst at Tractus Asia and provides market research, B2B matchmaking, and services for clients across industries

Science is the way forward

Empowering Learners to Become Change Makers Through Sustainability Education

By Ashley Durdle, VERSO International School

A growing trend over the years in professional learning communities in education is a focus on developing “leaders of tomorrow” as a primary goal. This endeavor can seem somewhat daunting at the outset, as our rapidly evolving global landscape no longer provides the same discrete indicators of what a successful career might mean in the years ahead as it did in earlier decades. Learners need less concrete, technical knowledge now that most information is available at the click of a button. Instead, transferable skills are needed that foster quick turnaround and innovative people who view obstacles as inevitable, necessary steps on the path to their future success.

Given many of the challenges facing our world stem from a consumerist lifestyle - bigger, better, more, disposable, and so on - sustainability education is increasingly recognized in the field of education as the answer we seek. It provides an alternative pathway to a healthy, bright, and holistic future. Sustainability education no longer solely entails learning about the environment; it now encompasses a broad range of topics, including environmental science, social responsibility, ethics, advocacy, economics, and global citizenship. In essence, it focuses on systems thinking, prioritizing addressing the root cause rather than superficial

symptoms, while developing an intrinsic attitude of stewardship above all else.

So how do we introduce sustainability education that goes beyond disseminating information on interesting facts and figures, ensuring that we make a sustainable impact on our learners? This is a current challenge for many educators who recognize the importance and necessity of integrating sustainability into project-based learning. To achieve genuine impact through this type of education, it is crucial to prioritize development of the mindset itself, which includes and fosters empathy as a core skill, as well as

critical thinking, problem solving, perspective shifting, and decision making through the lens of closed loop thinking. Furthermore, more subtle but valuable skills such as collaboration, creativity, and resilience naturally emerge as byproducts of incorporating sustainability education into any curriculum.

Considering the increasingly entrepreneurial nature of many of our learners, adopting a closedloop systems approach makes economic sense. By eliminating waste, we create an opportunity to make sustainability education tangible and accessible to our learners. Returning to the “old school” values of sharing, repairing, reusing, and recycling disrupts the consumerist mindset that has prevailed since the post-war industrial era, which significantly boosted the wealth of nations around the world. What was once considered ‘waste’ now becomes a valuable resource for creating something new, thus fueling an industry projected to be worth 4.5 trillion US Dollars by 2030.

In a world facing environmental crises, most learners have already done projects in some form or another on climate change, deforestation, plastic pollution, and resource depletion. This approach equips individuals with the knowledge to understand the interconnectedness of our environmental, social, and economic systems and empowers learners to recognize the consequences of their actions. In the end, they feel empowered to make informed decisions that consider long-term sustainability and are directly responsible for advocating for and shaping the world in which they choose to live. A continued focus on the circular economy organically leads to

the formation of collaborative business networks, which is a significant shift in our perspectives on achieving balance in our approaches to the future. By creatively integrating these principles into our educational systems and fostering a sense of responsibility for the environment and society at large in our learners, we take the first step towards lasting change. This sense of cultivating responsibility for the immediate community and resources in our learners’ lives creates a template for addressing the systemic obstacles they face in creating lasting change in the world.

Learners are taught to challenge prevailing norms and seek innovative solutions by actively maintaining their divergent thought processes. This challenges them to examine the multi-faceted implications of their choices and asks them to find ways to minimize the harm that results from the process. Engaging with certified B Corporations or B Corps, for example, provides learners with a firsthand understanding of how stakeholders are demanding higher standards of social and environmental performance, transparency, and accountability from companies. With the motto “People & the Planet before Profits,” this is a simple, tangible concept that learners can fully comprehend. They learn that their voice, their time, and money are powerful tools to bring about lasting, sustainable change in our world - real People Power!

Sustainability education emphasizes the importance of social justice and equity by

encouraging learners to examine the unequal distribution of resources and opportunities, empowering them to advocate for fairness and inclusivity. This often leads to a feeling of frustration and apathy as an inevitable part of the learning process as learners grasp the extent and variety of issues afflicting our planet. By nurturing empathy and understanding and guiding learners on how to overcome these difficult and deeply human emotions, with the knowledge that the solutions lie within reach, they learn to overcome these struggles and become true future leaders dedicated to constructing a more just and sustainable society. We must educate learners on

peer-to-peer processes and establishes a collaborative business network.

The concept of “grit” is well-known, and nothing better equips learners with mental and emotional resilience required for important tasks than engaging in meaningful sustainability practices. By directly integrating sustainability education into all our curricula, we are actively cultivating empathy, social responsibility, and global citizenship. Let us seize this opportunity to meet the genuine needs of our learners and prepare them for the world they will inherit. In doing so, we empower them to become the changemakers and leaders our world will always need - this kind of agency and presence

When the Washing is Still Green: A Perspective on Environmental Lip Service

By Dr. Paul Crosio, Silk Legal

Trillions of dollars have been poured into funds touting their green credentials via various voluntary disclosures as the world economy seeks to accelerate its low-carbon transition. More than 90 nations, representing an estimated 80% of global emissions, have pledged to commit to reaching net zero, according to the World Resources Institute (WRI), a think tank.

Despite growing global momentum to curb greenwashing, financial and green analysts say the fact there are no uniform Environmental Social Governance (ESG) and sustainability standards mean that even defining the problem, let alone finding consensus on it, is difficult.

This lack of uniform standards may change. The European Union and the U.S. have drafted respective corporate disclosure rules, and the G20-backed International Sustainability Standards Board (ISSB) in February announced it would support two sets of rules - one on climate and one on sustainability - to form a “global baseline” beginning in 2024. ESG advocates said this could compel - and incentivize - companies to put climate at the core of their operations, and signal that greenwashing will not go unchecked.

In the interim it is essential for companies to have a clear view of what it means to claim to be

“sustainable”, “100% recycled” or “environmentally friendly”. Overall, transparency and credibility in ESG reporting is crucial to avoiding being shamed because of “green sheen” marketing.

A recent event in Australia has thrown a spotlight on the increasing risks of greenwashing - when companies make misleading claims about their environmental credentials. In February this year, the Australian Securities and Investments Commission filed a high-profile lawsuit claiming substantial damages against a pension fund, for alleged greenwashing regarding the sustainability of its investment options. It was decided by the courts that their investment options, including companies still involved in high carbon fuel extraction and processing, was misleading and insufficient care was taken in making these “sustainable investment” assertions. The courts drew a nexus between greenwashing and fraud and had little difficulty in awarding damages to the Commission.

Following suit, last month, the Australian Competition and Consumer Commission revealed that over half of the 247 companies reviewed online for potential greenwashing had made “concerning claims” about their environmental credentials. In a statement, the watchdog noted that companies are obligated to substantiate any

green or sustainable assertions with evidence such as reliable scientific reports, transparent supply chain information, and reputable thirdparty certification. The Commission said it is taking steps to name these companies and demand they rectify their misleading assertions.

ESG in Thailand: A Wilting Revolution?

It has been widely reported that it is becoming increasingly difficult to breathe in Thailand due to smoke from fires in northern Thailand, and motor vehicle pollution rising in Bangkok causing respiratory issues for many individuals. For at least seven days straight in April 2023, Chiang Mai ranked as the world’s most polluted city according to the Air Quality Index (AQI).

The fires are readily tracked using NASA satellites with imagery available to the general public. A number of the fires have been attributed to farms, and these farms supply some of Thailand’s biggest companies. The farmers complain that without assistance from the government, they are unable to afford the machinery to avoid burning the excess bio matter.

Research clearly indicates that addressing air pollution and environmental degradation has significant benefits for the climate, economy, and people. It seems that the environmental components of ESG initiatives are still evolving in Thailand. How any ESG initiatives progress will largely depend on the way stakeholders and regulators hold Thai companies accountable for their actions and claims.

On a positive note, there have been several initiatives taken by both the Thai government and the private sector to promote ESG standards and reporting, including the Thailand Sustainable

Investment (THSI) Initiative, launched in 2015, and the Bio-Circular-Green (BCG) economic model which aims to promote sustainable investment practices. Even the Stock Exchange of Thailand has introduced sustainability-related guidelines and reporting requirements, including the adoption of the Global Reporting Initiative (GRI).

ESG is slowly evolving in Thailand, but a lot will depend on the financial impact to companies for not adopting a credible ESG agenda. Thailand has come a long way since the days of open building sites which allowed concrete dust to blanket Bangkok. Thailand also recently adjusted the level of PM 2.5 ppm from 50 microns down to 37.5 microns, but meaningful change is required to really improve the air quality.

Companies may create change as they demand ESG and supply chain audits to assure they, themselves, can meet their more rigorous ESG reporting requirements. Time will tell whether this green sheen will last or if the dust from the bad air is already affecting its luster.

Paul Crosio is an experienced legal practitioner, who specializes in restructuring, ESG, CAM, and corporate law. He has worked with various multinational corporations across Asia-Pacific over the past 25 years. Paul holds a Master of Law and in Business Administration, along with degrees in Law, Economics, and Sharia Finance.

Investing in Thailand’s Future Through Education - 2023 AMCHAM/ FedEx Career Camp

On June 11-14, The American Chamber of Commerce Foundation (ATF) hosted a four-day Career Camp for AMCHAM Scholarship students. The program aimed to equip talented scholarship students with valuable life skills, including mock job interviews, effective communication tools, and networking tips to enhance their career prospects and foster their professional development.

The AMCHAM Scholarship program provides financial assistance and mentorship opportunities to outstanding students from diverse backgrounds throughout Thailand. The ATF Career Camp is organized as part of AMCHAM’s ongoing commitment to supporting the educational aspirations of high potential financially disadvantaged Thai youth. Over the course of four days, students engaged in a series of interactive workshops designed to broaden their understanding of various industries and career paths.

“The AMCHAM staff are very supportive. I have been able to practice my English skills since day one, starting with the Ice Breaker activity—learning to get to know myself and others—and meeting many new friends”, Pariya Khammoonbun, King Mongkut’s Institute of Technology Ladkrabang. Patcharapa Aeksiri, a fourth-year student from Kasetsart University added, “I would like to express my deepest gratitude to ATF and ATF sponsors for providing me the opportunity to continue my academic journey. Without the scholarship, I would not have a future. I have learned so much from the workshops like networking skills, work prioritization, and teamwork, which are essential.”

The Career Camp featured esteemed professionals and guest speakers from AMCHAM member companies, including 3M Thailand, Bank of America, Berkeley International School, Bitkub Capital, CES Holdings, ChangeWorks, Citibank, CoffeeWORKS, Dale Carnegie, FedEx, GP Strategies, Harmless

Harvest, Hilton Sukhumvit Bangkok, International SOS Services, JacksonGrant Recruitment, Kenan Foundation Asia, Lazada, Lim-Loges & Masters, Maersk, PepsiCo, ThoughtWorks, Takeda, Tilleke & Gibbins, and United Overseas Bank (UOB).

In addition to the informative sessions, the Career Camp fostered networking opportunities, allowing the AMCHAM Scholarship students to connect with ATF alumni who provided valuable tips based on their experience. During the ATF Certificate Ceremony, ATF graduating student, Wildan Muna, Taksin University delivered a speech, stating, “The AMCHAM Thailand scholarship provides more than just financial assistance. It connects me to a network of accomplished individuals who share similar visions and aspirations. This invaluable opportunity allows me to forge connections with successful professionals, mentors, and peers who can provide guidance, advice, and support along my journey. The ability to surround myself with

like-minded individuals who are passionate about making a positive impact in the world is truly inspiring, and I am excited to contribute to this community of change-makers.”

As the Career Camp concluded, ATF Vice President, Heidi Gallant, expressed the ATF’s commitment to providing ongoing career guidance to AMCHAM Scholarship students beyond the event. “It’s important to AMCHAM and the Foundation to form a bond with our scholars now and for the future. The orientation and career camps that we organize for them give us this chance to ensure we have a lasting relationship with these talented people whom we’ve guided into the local workforce.” The Foundation aims to empower these young talents to thrive in their chosen field and contribute to a community of impactful professionals. Special thanks to FedEx for sponsoring the event and to AIA for sponsoring the venue for the event.

A Letter from The Government Affairs Director’s Desk

Jen Meckhayai is AMCHAM’s Government Affairs Director.

Dear Members,

Environmental, Social, and Governance (ESG) principles have become increasingly important to regulators, investors, and businesses across all sectors. Many large companies prioritize ESG to establish their sustainable policies and incorporate ESG into their investment portfolio. Recently, the Stock Exchange Thailand published a guideline for Sustainability Disclosure and Reporting, and the Securities and Exchange Commission also has a guideline for Asset Managers regarding Climaterelated Risk Management.

Earlier this year, the government demonstrated its commitment to sustainable development by introducing two new draft regulations: (1) the draft Sustainable Packaging Management Promotion Act—also known as Extended Producer Responsibility (EPR), and (2) the draft Circular Economy Promotion Act (CE).

Based on our insight, Circular Economy (CE) is an overarching principle that governs EPR. Normally, CE should be enacted before introducing EPR as the principal act. However, lawmakers pushed through both acts simultaneously due to time constraints. These new acts share some overlaps in terms of defining a responsibility upstream, while CE was written more broadly to emphasize the industrial involvement in the process of waste management.

The Extended Producer Responsibility Policy will shift responsibility upstream toward the producer to take care of waste management. It aims to incentivize producers to consider environmental factors when designing their products and packaging.

The Draft Circular Economy Promotion Act aims to promote and develop the circular economy system to conserve resources, protect human health and the environment, and facilitate waste

management services. This act will affect people who develop, produce, carry out processes, treat, or distribute products. These stakeholders must consider environmental factors when designing their products to minimize waste.

Overall, it is encouraging to see the government taking steps to hold producers accountable for their product designs and involving stakeholders in waste management efforts. However, some regulations need clarification, and our members have some questions. The AMCHAM ESG Council is currently preparing to advocate for the draft Sustainable Packaging Management Promotion Act. If this act may impact your business and you wish to share your feedback, please reach out to our Government Affairs team.

Sincerely,

Jen Meckhayai

it’s only human to power a brighter future

We believe that the future of energy lies in reducing carbon emissions and mitigating greenhouse gases, thereby ensuring a sustainable and resilient world in all aspects.

Chevron Thailand Exploration and Production Limited is committed to advancing technology in reducing greenhouse gas emissions from operations while enhancing the utilization of renewable energy in our production processes to support Thailand's carbon neutrality target by 2050 and net-zero emissions by 2065.

Member Luncheon: The Investment Climate in Thailand Post Election

At the event, speakers delved into Thailand’s current investment landscape in comparison to other ASEAN countries in the post-Covid era. They provided insights on future investment trends and the potential of the Thai capital market. Additionally, they discussed the challenges, policy and political risks, regulatory complexities, and bureaucratic hurdles that hinder foreign businesses.

During the question-and-answer session, members sought insights on areas for revival and growth, BOI Incentives for business ease and skilled labor attraction, and the Eastern Economic Corridor (EEC).

It is worth noting the global shift from a goodsbased economy to a service-based one, with Thailand experiencing a slowdown in its manufacturing sector compared to other ASEAN countries. Tourism plays a significant role in driving Thailand’s economy, distinguishing it from the rest of the region.Dr. Santitarn emphasized the need for Thailand to import more labor, particularly foreign talent. He also highlighted the importance of improving digital skills.

These insights are relevant to both existing and new investors, considering the rise of Vietnam and other emerging countries in the region.

Roundtable Meeting with Secretary General of Eastern Economic Corridor Office of Thailand (EEC)

On June 7, 2023, President Ornkanya (Mook) Pibuldham of AMCHAM led representatives to meet with Dr. Chula Sukmanop, the newly appointed Secretary General of the Eastern Economic Corridor Office of Thailand (EEC), at the EEC Office.

During the meeting, AMCHAM President congratulated Dr. Chula on his official appointment as Secretary General of EEC. The discussion focused on the progress and development of various infrastructure projects within the EEC, including the High-Speed Rail Link, U-Tapao Airport (Aerotropolis project), the new smart city and financial center, and the EEC medical hub.

Dr. Chula emphasized that the EEC would continue to provide generous support to existing investors

in the area, treating them as neighbors, while also implementing special investment incentives to attract more investors. Additionally, the EEC is in the process of developing an “EEC Fundraising venue,” enabling investors to raise funds in US dollars and creating a more appealing ecosystem for investment in the EEC.

AMCHAM reaffirmed its commitment to collaborating with the government to attract more investment to Thailand, particularly in the EEC area. On behalf of all AMCHAM members, representatives also expressed their willingness to assist the EEC in enhancing the investment ecosystem to be business-friendly for all enterprises.

BMA Public Health Service Center Visit

AMCHAM healthcare members recently visited the Bangkok Metropolitan Administration (BMA) Medical Unit at Public Health Service Center 41, located in the Klong Toey district. The delegation met Dr. Suksan Kittisupakorn, Deputy Permanent Secretary of BMA, who delivered a welcome address to the AMCHAM representatives. Leading the delegation was AMCHAM Vice President Deborah Seifert of Pfizer, accompanied by a group of members from various healthcare-related industries.

Public Health Service Center 41, which serves approximately 100,000 individuals in the

surrounding communities, offers an array of vital healthcare services. These services include vaccinations, outpatient care, dental clinics, psychiatric support, ophthalmological care, family planning, and antenatal care, among others.

This visit was initiated as an action item resulting from a successful Roundtable Meeting held with the Bangkok Governor earlier in 2023. The objective of the visit was to explore opportunities for AMCHAM’s engagement in strengthening BMA’s healthcare services, improving overall service quality, and expanding community access to healthcare.

" O u r V i s i o n i s t o b e a L e a d i n g T e c h a n d

I n n o v a t i v e C o n g l o m e r a t e , P r o v i d i n g F o o d f o r

b o t h B o d y a n d M i n d , t h a t C r e a t e s S h a r e d V a l u e

a n d B r i n g s H e a l t h a n d W e l l - b e i n g f o r A l l . "

" M a k i n g T o d a y A B e t

BMA: Launching Sustainable Digital Classrooms

Program will improve teaching and learning at Thai schools in an environmentally friendly manner, by accepting donations of old computers which will be revived with ChromeOS Flex

Bangkok Metropolitan Administration (BMA) has joined forces with Google, the American Chamber of Commerce in Thailand (AMCHAM) and other private sectors to bridge the digital divide in education. Together, the partners will launch the Sustainable Digital Classroom initiative for BMA-affiliated schools, gathering donations of old computers from enterprises in Thailand and reviving them with ChromeOS Flex for use in the schools. AMCHAM is in charge of collecting donations from its members while Google will offer its ChromeOS Flex solution to convert the old computers into fast and secure devices. Google will also provide free product training for each school.

The goal is to collect 130,000 donated devices in the next four years. These donated computers

will be used to help create an active learning environment for students at 437 BMA-affiliated schools starting from Prathom 4 (Grade 4) to Mathayom 1 (Grade 7).

At this event, AIS and Ngern Tid Lor, as the first two donors, also announced their commitment to donate 300 devices to kick-start the donation drive. The companies plan to continuously donate their old devices over the next years to support this initiative.

The collaboration is part of Google Thailand’s commitment to Leave No Thai Behind, focusing on supporting education and bridging the digital divide so that Thais can experience all of the opportunities the internet has to offer. For the general public or enterprises wishing to donate computers that are no longer in use, please check out more details at https://digitalclassroom. bangkok.go.th/ and learn more about ChromeOS Flex at this LINK.

AAP 2023 Washington Door Knock

AMCHAM Thailand recently participated in the AmChams of Asia Pacific 2023 Washington Door Knock from July 16 to July 19, engaging in critical dialogues to promote trade and investment between the United States and the Asia Pacific region.

AMCHAM’s Executive Director, Heidi Gallant, emphasized the importance of the annual visit to Washington for collaborating with stakeholders in the US and congressional leaders on enhancing the regional economic leadership “Thailand holds strategic importance for the United States due to its strategic location, stable economy, burgeoning industries, and access to ASEAN. The AAP Doorknock serves as a platform for sharing valuable on-ground insights. Through these dialogues, AMCHAM supports the Indo Pacific Economic Framework(IPEF) that may lead to substantial improvements in doing business within the region”.

AMCHAM represents over 600 member companies and is committed to fostering shared economic prosperity between the United States and Thailand. During the three-day visit, AMCHAM Thailand actively participated in meetings with

the current US administration, Think Tanks, and opinion leaders.

The AmChams of Asia Pacific, an umbrella organization of 25 American Chambers of Commerce, commended the Administration’s efforts to maintain U.S. leadership in the region. AAP attendees, including AMCHAM Thailand representatives, benefitted from informative briefings at the America First Policy Institute, the Center for Strategic and International Studies, and the American Leadership Initiative. Delegates also attended a session to update them on the latest IPEF negotiations held in Busan, South Korea.

Founded in 1968, the AmChams of Asia Pacific represents the shared interests of US and international businesses, employing millions of people across the region, and their members include some of the world’s largest manufacturing and trading entities. The region’s trade and investment dynamics are rapidly evolving, prompting the U.S. to constructively work with partners to establish new rules ensuring a level playing field with robust labor and environmental standards.

Samitivej Sukhumvit Wins Clinical Service Initiative of the Year Award

Samitivej Sukhumvit wins the Clinical Service Initiative of the Year award at the Healthcare Asia Awards 2023 in Singapore for its Samitivej Preterm Prevention Program by Samitivej Sukhumvit Hospital.

Assoc. Prof. Boonsri Chanrachakul, M.D., Ph.D., M.Sc. (Medical Genetics), Project Chairman and Head of Samitivej Center of Excellence for Prevention of Preterm Birth received the award on behalf of Samitivej Sukhumvit Hospital.

The Healthcare Asia Awards highlights outstanding hospitals and clinics that have risen above the challenges and made a remarkable impact on their patients. This latest award comes in addition to the two awards from The Global Health Asia-Pacific Awards 2023:

• Hospital of the Year in Thailand 2023

• Genomic and Lifestyle Medicine Service Provider of the Year in Asia-Pacific

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Digital Economy Committee

How Data is Reshaping the User Experience – June 16

In today’s highly competitive business environment, “data” is considered a primary resource for every organization, enhancing both business growth and customer service. The AMCHAM Digital Economy Committee recently invited four experts to share their insights and experience in managing organizational data, revealing how data can optimize financial management, improve customer engagement, enhance sustainable agriculture, and facilitate property management. The discussion also explored the future implications of data for organizations. Jason Shipman, AMCHAM Digital Economy Committee Co-Chair and Managing Partner – Growth and Transformation of Tata Consultancy Services introduced the topic to initiate a discussion about the importance of data in modern organizations, as being crucial for effective business analysis and advancement.

Speakers: Assist. Prof. Dr. Sanphawat Jatupatwarangkul, Digital Practice Leader of Aurecon (Thailand); Lyn Kok, Founder and CEO of Mula-X; Dr. Rassarin Chinnachodteeranun, Cofounder and CEO of ListenField; Michael Chen, CEO and co-founder of Buzzebees

Moderator: AMCHAM Digital Economy Committee Co-Chair Waleeporn Sayasit and GM of TCC Technology. Waleeporn introduced the speakers as representatives from various sectors, including finance, marketing, agriculture, and real estate. They all utilize massive amounts of data to create business value in different ways. She encouraged discussion of how data is being used by different industries and the successes and challenges each has experienced in doing so.

How Can “Data” be Leveraged for Business Growth?

The enormous amount of data stored within an organization, when effectively organized and utilized, can increase opportunities to enhance the value of products and services. Lyn Kok, Founder and CEO of Mula-X, highlighted, “Financial institutions generally collect data that are selfdeclared by customers for their credit analysis such as income proof, address, demographic data, and credit bureau data for credit assessment. Apart from these traditional sources of data, there are new forms of data that can help to complement the traditional data sources such as psychometric

tests or phone metadata to better understand borrower’s financial profile and psychological behavior. Furthermore, these new methods can also help to provide more financial opportunities to customers traditionally underserved.” Additionally, Dr. Rassarin Chinnachodteeranun, Co-founder and CEO of ListenField, emphasized, “In the agricultural sector, collecting in-depth data about locations, the environment, and farmers is crucial for analyzing problems and enabling farmers to improve the quality of their product.” Meanwhile, in the real estate sector, Assist. Prof. Dr. Sanphawat Jatupatwarangkul, Digital Practice Leader of Aurecon (Thailand), added, “Applying digital technology data in the real estate sector adds a clearer perspective, such as on the use of buildings and infrastructure, which contributes value to the development of smart cities and more efficient property management.” Lastly, Michael Chen, CEO and co-founder of Buzzebees, stated, “The collection of customers’ personal data through creating a platform that fosters loyalty is crucial in improving the efficiency of data collection. Once the desired data is obtained, it can be analyzed for consumer behavior through a Customer Relationship Management (CRM) platform, enabling continuous business growth.”

Shared Experiences, Opportunities, and Challenges from Multiple Sectors in Utilizing Data

According to Assist. Prof. Dr. Sanphawat, “In the real estate industry, making efficient decisions requires accurate and precise information beginning from the initial design phase. Additionally, selecting and using data at the appropriate time can help to reduce mistakes, costs, and inefficient processes. An example is the utilization of technology to

convert buildings into data through Building Information Management (BIM) systems, which is a process of creating, assembling, and managing construction designs using three-dimensional data, to enable a clearer understanding of the structure and design possibilities in architectural engineering.” On the other hand, Lyn mentioned, “Legacy systems, multiple data sources stored on different operating systems, and data privacy regulations pose significant challenges in the efficiency of collecting and maintaining one single source of truth of the data for the financial services sector who use these data for credit analysis, marketing, and customer servicing purposes. Therefore, collaborating with financial institutions to implement newer cloud-based financial technology (Fintech) is essential for delivering quicker products to market and also a better user experience. An example of this is the Know Your Customer (KYC) process where newer technologies are utilized to enable this process to be done in a more secure, faster way via digital technology that fosters a positive impact on customer experience.” Furthermore, Dr. Rassarin emphasized the perspective from the agricultural sector, saying, “Various stakeholders in agricultural businesses, such as producers, consumers, and logistics providers, require diverse data for efficient outcomes. We must work together as an ecosystem to achieve sustainable agricultural production.” In the marketing industry, Michael added, “Data plays a crucial role in adding value to the business. In the past, the options for purchasing products were relatively limited compared to the present day, where customers can make purchasing decisions via various platforms like Facebook, Google, or YouTube. As a result, businesses now need to

prioritize continuous customer engagement, in which customers spend only 27 seconds making a decision.”

Upcoming Trends in Data Reshaping

The rapid development of AI technology will play a crucial role in decision-making and organization of data. According to Assist. Prof. Dr. Sanphawat, “AI can only assist in making work faster and more efficient, but it cannot replace human jobs.” Michael noted, “the significant role AI will play in various industries in the future, particularly in assisting in-depth data analysis and providing accurate insights about customer targets.” In conclusion, the discussion emphasized the many ways massive amounts of data can be used properly to create and enhance a positive impact on user experience. The event concluded with,

Peter Fischbach, President of ISM Technology Recruitment Ltd., moderating a short questionand-answer session, allowing the audiences to share their own experiences regarding utilization of data to enhance user experiences.

Source: This article was developed on behalf of the AMCHAM Digital Economy Committee including Jason Shipman, Managing Partner –Growth & Transformation of Tata Consultancy Services (Thailand) Ltd., Lyn Kok, Founder & CEO of Mula-X, Peter Fischbach, President of ISM Technology Recruitment and Waleeporn Sayasit, GM of TCC Technology. The above content is only a partial summary extracted from the event “How Data is Reshaping User Experience”, organized by the AMCHAM Digital Economy Committee. For more information, please visit https://youtu.be/ HiIX9LVEBlU

Life Cycle of a Start-Up Part 2 – Incubators – June 8

Speakers: Chris Aurand of Thai Union Group, Gagan Singh of WOWS Global, and Lloyd Vatanakovarun of Ananda Development

Moderator: AMCHAM SBE Committee Co-Chair Creighton Franz of Silk Legal

Organized by: Small Business & Entrepreneurs Committee

Event Highlights:

The SBE Committee’s second event of a four-part series focused on developing business beyond the drawing board. Experts shared valuable insights to help small businesses and entrepreneurs access mentorships, evaluate and/or measure business ideas by using incubators, and provide other support. The event was followed by an interactive question-and-answer session and open discussion.

SBE Committee

Joint SBE & Food and Agri-Business Committees

Life Cycle of a Start-Up Part 3 – Startup Growth and Expansion Strategy – July 27

Speakers: Kevin Bloom, Founder of MessageSpring Inc., and Nikon Gormley, Founder of Innerspark Group, and Super 7 Taekwondo, Co-Founder of Better Founders, and Managing Partner at Gormley Glass.

Moderator: AMCHAM SBE Committee Co-Chair Thathien Anujorbhand of Amazon Global Selling

Organized by: Small Business & Entrepreneurs Committee and Food & Agri-business Committee

Event Highlights:

The event focused on discussions on the challenges and opportunities during startup growth and expansion. Experienced entrepreneurs shared their insights and strategies, from attracting talent to securing investors. A post event networking session allowed attendees to engage in the exchange of ideas and perspectives on best practices, strategies, and nuances around growth and scaling.

AMCHAM Event

AMCHAM Networking & JUSMAG Open House – June 14

Event Highlights:

AMCHAM recently provided an exciting opportunity for members to visit the esteemed JUSMAG (Joint U.S. Military Advisory Group) facility and meet its officers. The event was followed by a delightful networking evening, where AMCHAM Board Governors, Committee and Council leaders came together.

During the event, Col. Kurt Leffler, the senior defense official and Defense Attaché to the Kingdom of Thailand, alongside the Chief of Joint U.S. Military Advisory Group (JUSMAG), presented the rich history of JUSMAG and introduced members to the officers stationed in Thailand. The session was engaging, featuring a vibrant question-and answer that offered valuable insights on JUSMAG.

DEI Committee

Driving DEI in Your Organization - Frameworks and First Steps to Begin the Inclusion Journey – July 12

Speakers: Angela Peacock of GP Strategies; Keunhae Kate Park of Leading Edge; Murali Mohan Kalvakalva of Philip Morris Trading; and Christopher Schultz of DKSH

Moderator: AMCHAM DEI Committee Co-Chair Cristopher Schultz of DKSH

Organized by: Diversity, Equity, & Inclusion (DEI) Committee

Event Highlights:

Speakers discussed strategies for fostering diversity, equity, and inclusion in organizations. They also highlighted the importance of intercultural awareness for harmonious collaboration across different perspectives, geographical boundaries, and organizational scales.

“Equity is different for each individual. We should focus on practicing the awareness of equity and creating an environment where equality can grow and thrive inclusively throughout the organization” - Angela.

HR Committee

Empowering Financial Wellbeing– Innovative & Engaging Strategies to Enhance Employee Financial Health – Jul 19

Speakers: Will Rainey, Award Winning Author and Program Manager, and Prabhav Rakhra, Co-Founder of Salary Hero.

Moderator: AMCHAM HR Committee CoChair Naraphorn Inthachuea of Willis Towers Watson Thailand

Organizers: Human Resources (HR) Committee

Event Highlights:

In this thought-provoking webinar on financial well-being, the significance of financial literacy from an early age to adulthood and its impact on employees’ overall productivity were highlighted. The session inspired attendees to embrace a path of financial well-being for a brighter future.

Manufacturing Committee Alliance Laundry Systems Factory Tour – July 21

Organized by: Manufacturing Committee

Event Highlights:

AMCHAM members visited Alliance Laundry Systems in Chonburi. The program began with a comprehensive safety briefing and an insightful introduction to Alliance Laundry Systems and its Thailand Operations. The members enjoyed a fascinating tour of the latest commercial laundry equipment. After the tour, members were pleasantly surprised with a thoughtful gift from Alliance Laundry- a group photo capturing the memorable moment just before the tour started!

Creative Economy Council

From Script to Screen: How a Movie is Made – Aug 2

Speakers: Aditya Assarat, a Film Producer

Moderator: AMCHAM Creative Economy Council Co-Chair Sarut Wittayarungruangsri of Netflix and Nattabhorn Juengsanuansit of Asia Group Advisors

Organized by: Creative Economy Council

Event Highlights:

AMCHAM’s members got an exclusive glimpse into the Thai film industry during a captivating event. Speaker Aditya spoke about the film production process from script to screen and its business model, including distribution and the industry’s potential with streaming platforms and global soft power. Following the main presentation, participants actively engaged in a question-and-answer session.

Welcome New Members

CORPORATE MEMBERS

Adfinity is a digital marketing agency that specializes in social media, paid search, display advertising, influencer marketing, and more.

Designate: Stuart Croft, Director

ITOCHU is involved in domestic trading, import/export, and overseas trading of diverse products., They also make business investment in Japan and overseas.

ITOCHU Thailand serves as the hub for the Indo-China area, Southeast Asia, and Oceania.

Designate: Yutaka Minemura, Deputy Group Chief Operating Officer

Remobie is involved in the recycling and distribution of used electronics for major carriers, retailers, and enterprises in Thailand. Circle is a social commerce platform that enables Small and Medium Enterprises (SMEs) and individuals to set up and expand their businesses.

Designate: Judy Mo, Co-Founder

Seven Peaks drives digital transformation, addressing modern business challenges of its clients, helping them survive and grow, through high-impact digital solutions that are made viable with robust strategies, through engaging user-centric design, via technical advisory and delivery.

Designate: Nyoman Mahardika, Managing Director

June 2023

Schenck Process is the global leader in material handling and processing technology for weighing, feeding, conveying, sifting, milling, and filtration. With over 140 years of experience, their solutions optimize processes in various industries around the world.

Designate: Dustin O’Farrell, Managing Director

Thai Summit Cable & Parts is a trusted leading manufacturer in the Automotive industry, providing quality products such as Automotive Cable, PVC Adhesive Tapes, Corrugate, and Vinyl Tubing.

Designate: Danaya Sontiwong, Director

Tinman matches candidates with top employees, who could be the most loyal, most productive, or most responsive staff. They utilize employability assessments to measure and make the best matches.

Designate: Simon Birkett, Co-Founder

TMX Global is an end-to-end supply chain consultant, dedicated to inventing the future rather than just planning for it. They create cutting-edge digital and supply chain solutions to help you go further and faster.

Designate: Dean Jones, Managing Director Asia

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