Preface Large amounts of companies seize the opportunities in Thailand. Located in the heart of Asia, Thailand lends itself as the gateway into South-East Asia, China, and even Australia and New Zealand. With over 67 million inhabitants, it is one of the largest economies in South-East Asia. Costs of labor are low, the population’s spending power increases, and the Thai Board of Investments pursues an active stimulation policy, making Thailand a prosperous site for companies from all over the world. During the past months a group of 24 carefully selected students has put all its effort into gaining insight into a wide variety of promising sectors in the Thai economy. During this research stage we have enjoyed the support of several major institutions like RSM Erasmus University, the Netherlands-Thai Chamber of Commerce, the Embassy of the Kingdom of the Netherlands in Thailand and the Royal Thai Embassy in the Netherlands. All these factors have helped us to become the strong and professional team we aspire to be. Like our predecessors – under the name of International Business Study – have done for the last 25 years, Erasmus Consultancy Project Thailand 2013 is ready to offer you its services. We look forward to serve you Thailand’s unrevealed golden opportunities with professional, tailor-made research on a non-proﬁt basis. We sincerely hope that this brochure will convince you of Thailand’s potential. Sincerely yours,
Marleen Verweij Chairman Erasmus Consultancy Project Thailand 2013
Bangkok is usually referred to as “Krung Thep” by the Thai people, which means City of Angels
Philips Healthcare (ECP 2010 Chile) “We are more than satisﬁed by the research performed by the ECP team for the Home Healthcare Markets in Chile and Argentina. The detailed reports they send to us, the professionalism showed on it and the positive comments we received from some of our interviewed customers overfulﬁlled our expectations. For sure we will use their data and their recommendations to plan our future strategy in these territories. I hope to have the opportunity to work together again with them in the future.” Javier M. A. Libré Healthcare Senior Manager Philips Healthcare - Latin America
What is ECP? Erasmus Consultancy Project is a project of STAR, Study Association of RSM Erasmus University. Every year, ECP offers companies and non-proﬁt organizations tailor-made contract research in an emerging market.
The participating organizations will be provided with high-quality research on which they can make well considerd decisions. The Erasmus Consultancy Project has over 25 years experience in performing research for Dutch companies in emerging markets. The destination this year will be Thailand, an emerging market with golden opportunities.
Whether your company is considering expanding to Thailand or are allready established there, ECP can provide you with unique business solutions. Our multi-faceted research services and market insights tailored to your speciﬁc needs will help you put the market opportunities in Thailand into perspective and will consult you in what actions need to be taken. ECP offers various kinds of consultancy services concerning investment opportunities. In cooperation with your company, we compose tailor-made research. We are able to research anything from a compettitor analysis to commercial activities. The possibilities are unlimited. These are some of the services we offer: • Market research • Entering strategy analysis • Value chain analysis • Feasability analysis • Supplyer analysis
The ECP research will be carried out by a select group of 24 (international) Business Administration and Master students of the RSM Erasmus University. The group consists of both international and Dutch students. The project itself runs from October 2012 until October 2013 and consists of three stages:
Starting in October, a preliminary general research of the country is conducted. The aim of this research is gaining insight into the Thai market by analysing interesting sectors. This will be our base knowledge and will be used in further research.
In this phase companies are offerd tailor- made contract research. After a non- comittal contract, we will provide your company with a research proposal. Once this proposal is accepted we will conduct desk research for several months, followed by three weeks of ﬁeld research in Thailand.
In September and October the research will be ﬁnalized and we will present our recommendations to your company.
“Thailand continues to be in the top 20 Countries in the Ease of Doing Business” The World Bank: October 23, 2012
Hybris AG (ECP 2011, Brazil) “When I decided to engage the ECP STAR team to do a research in Brazil, I was not sure of what exactly to expect. I had a very good impression, had very good feedback from the references provided, but was not sure about what results they would be able to show. Very quickly the team showed that they can deliver real business results, ﬁrst by quickly identifying the main players relevant for my company and then by actively engaging them. The team was able not only to map the competitive landscape in Brazil, but also to get very precise information on what the market expects of a new entrant as well as to open many doors at potential partners, potential customers and industry inﬂuencers. I wholeheartedly recommend working with ECP STAR.” Daniel Couto, PMP, MBA Regional Manager South America / Director Consulting EMEA
Why Thailand? Thailand is an emerging market that offers unique business opportunities to companies prepared to take a serious interest in this dynamic market.Traditionally, the Netherlands has been one of the most important trading partners of Thailand, with reciprocal trade ever increasing.
Thailand has always been an attractive investment country due to its relatively low labor costs, ﬂexible labor laws and an active stimulation policy from the Thai Board of Investments. The country has a well-developed infrastructure, a free-enterprise economy and welcomes foreign investment. Thailand is one of the fastest growth markets in Asia. Its economy is greatly emerging, with an expected GDP growth of 7.5% in 2013 according to IMF. Thailand is the second largest economy in the ten-nation ASEAN. It is an export dependent economy, with exports accounting for almost 70% of the GDP. According to the World Bank, Thailand ranks 20th in the world when it comes to trading across borders.
Thailand’s growth is especially interesting for Dutch companies as the Netherlands has always had a prosperous economic relationship with the country: the Thai export to the Netherlands in 2010 accounted for €2.8 billion while imports reached €806 million during the same year. Thailand has many competitive advantages, one of the most important is its strategic location at the heart of Asia, thereby lending itself as a gateway into the ASEAN and Asia-Paciﬁc markets. Furthermore, its relatively sophisticated business environment, backed up by advantageous governmental support, making Thailand a leading country for Foreign Direct Investment.
Our general research showed numerous sectors in Thailand with potential for foreign investments. The ones listed below are among the most promising: • • • • • • • • • • • •
Animation Software Clinical Trials Consumer Electronics Distribution Logistics Food Processing Medical Tourism Mobile App Development Renewable Energy Shipbuilding Tourism and Recreation Water Management Yachting Industry
“In the ﬁrst eight months of 2012, Dutch investments in Thailand have grown with 250 percent” The Dutch Ministry of Economic Affairs
Koninklijke Zeelandia B.V. (ECP 2012, South Korea) “It was my pleasure to work with the consultants of the Study Association Rotterdam (STAR) of the Erasmus University Rotterdam on a research project aimed on the identiﬁcation of a business partner for Zeelandia on the S. Korean market. In the short time of 3 months the students have been able to rank potential partners and present a shortlist of 7 companies interested in a cooperation with Zeelandia while at the same time providing valuable information about the S. Korean market for bakery products. We are impressed by the good communication and by the speedy reporting and quality of the research results. The study has proofed to be valuable for our company.” Jef Snijders Director Asia Paciﬁc of Koninklijke Zeelandia B.V.
Why academic research by ECP? We provide you with high quality research at both a practical and academic level. Because of the nature of the project, ECP gives you access to valuable and unique information on which to base successful business decisions.
Unbiased research is guaranteed throughout the project as ECP has no personal interest in any particular business or political area.
In comparison to professional consultants, ECP offers an excellent price-quality ratio. This is mainly due to the non-proďŹ t basis the project is conducted on.
The quality of the research will be guaranteed by academic feedback from the expertise provided by professionals of the RSM Erasmus University. Members of the teaching staff, called mentors, provide input of knowledge, network and experience in the process. Two mentors will accompany the group during the research trip. The project is also supported by an extensive Board of Recommendation and a number of High Counsellors.
Access to information
ECP has access to a vast number of information resources, including databases, experts, information from our professional support group and information provided by ECP contacts. In addition, ECP will obtain unique information and local knowledge during the ďŹ eld research in July. Furthermore ECP has the time, skill and resources to review the large amounts of information available.
The people behind ECP
Marleen Verweij Chairman Waling Koning Treasurer Ralph Pijls Comissioner of Research Bob Verbakel Comissioner of Commercial Relations Mathijs van der Knaap Commissioner of Marketing Maaike Gerritse Programme Coordinator
Sinan Al-Mansour Emely de Andrade Bastiaan Boelhouwer Karin Bongers Bojan Brkic Julia Hagemann Lorenz Hercher Mark de Koff Roderik Kusters Caroline Massart Esther Plagmeijer Evelien Post Gurbe Scheenstra Manon Straten Anja Ugedahl Arie van Weelden Sabine Zagers Leonie de Zeeuw
Professors: Vlado Kysucky Jatinder Sidhu
Board of Recommendation Giljam Aarnink Managing Partner Ernst & Young Accountants
Frans van Houten Chief Executive Ofﬁcer Philips N.V.
Henk Schmidt Rector Magniﬁcus Erasmus University Rotterdam
Ahmed Aboutaleb Mayor Rotterdam
Pieter Jongstra Chief Executive Ofﬁcer Ernst & Young Netherlands
Robert Swaak Chief Executive Ofﬁcer Pricewaterhouse Coopers
Harry Brouwer Chief Executive Ofﬁcer Unilever Deutchland GmbH
Henk-Cor van der Kwast Deputy Head of Mission NTCC
Steef van der Velde Dean and Professor RSM
Alexander Hagemann Chief Executive Ofﬁcer Schaffner Holding AG
Erik van der Meijden Chief Executive Ofﬁcer Exact Holding N.V.
Jaqueline Zuidweg Managing Director Zuidweg & Partners
Theo Halders Vice President NXP Semiconductors Thailand
Jan Nooitgedagt Chief Financial Ofﬁcer AEGON N.V.
STAR Study Association RSM Erasmus University Room T04-53 Postbox 1738 3000 DR Rotterdam
Room T5-53 Burgemeester Oudlaan 50 3062 PA Rotterdam
T: +31 (0) 10 408 24 85 E: email@example.com W: www.ecpresearch.nl