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Learning to manage a business “Thai style”

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Learning to run a business “Thai style” can prove trying for foreign entrepreneurs new to the Land of Smiles. A study carried out in 2008 by Dutch and French Chambers of Commerce showed that on average, an executive takes 13 months to be totally comfortable and effective in a Thai environment.

“The intercultural aspect represents an extremely heavy hidden cost for businesses”, according to Jean-François Cousin, business coach from Bangkok-based company 1-2 WIN. “Especially since the managerial staff generally changes here every three to four years.” At times, intercultural factors alone can block or considerably slow down the carrying out of projects.

“It took me months to understand that a study wasn’t moving forward because of a faux pas,” recalls an employee of a Bangkok-based French distribution company. “I made the mistake of criticising the work of a Thai colleague in public.” While training and accompaniment are necessary, the Thai Chamber of Commerce (TCC) feels that this task is not its domain. “We do not deal with individual difficulties,” states the TCC’s President, Dusit Nonthanakorn.

via Learning to manage intercultural affairs | Commerce International.

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Corporate

The environmental case for remote working

Anyone searching for a silver lining to the pandemic should look to the clear, blue skies above them. A reduction in pollution worldwide has been an unintended benefit of the lockdowns and stay-in-place orders imposed to control the spread of COVID-19.

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During the pandemic, the environmental and societal benefits of working at home quickly became apparent. How can businesses protect these benefits in the future?

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Investment

Thailand Q1 Investment Applications Soar 80% as FDI More Than Double says BOI

The top three source countries of FDI applications during the first quarter were South Korea, China, and Singapore, with similar levels of investment. Korean investment soared due to a large-scale joint venture in the medical sector, Ms Duangjai said.

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The Thailand Board of Investment (BOI) said today that in the first quarter of 2021, investment applications rose 80% from the year earlier period to a total value of 123.4 billion baht (USD3.9 billion), led by projects in the medical and electric and electronics (E&E) sectors, as foreign direct investment (FDI) applications more than doubled.

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