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Bangkok Bank builds on the success of its AEC Business Leader Program with the launch of its second class, focused on doing business in Cambodia
February 09, 2017
Bangkok Bank this week launched the second class of its ‘AEC Business Leader Program’ which will focus on doing business in Cambodia. Forty-five people have been selected to attend the nine-week course, which will build on the success of the first class and continue the program’s commitment to preparing and empowering Thai entrepreneurs with the skills they need to operate confidently within the AEC.
Bangkok Bank Executive Vice President Chaiyarit Anuchitworawong, the program’s director, said the first class of the ‘AEC Business Leader Program’, an intensive workshop for Thai business owners and entrepreneurs who want to enter the AEC market, was a success. The program will continue to support executives and entrepreneurs from Thai companies which have the potential and vision to expand in fast-growing markets in ASEAN, which is also becoming a key global manufacturing base.
In designing the course, Bangkok Bank drew on its deep knowledge and extensive experience of doing business across the region to enhance the skills of Thai entrepreneurs wanting to enter markets in neighboring countries. The Bank is also leveraging its relationships with successful regional business leaders to create a network of business partners for Thai companies and provide them with greater insights into the vision and viewpoints of businesses across ASEAN.
Each class of the AEC Business Leader Program concentrates on a specific ASEAN country. The first class focused on Myanmar, while the second class will focus on Cambodia and its promising high growth economy. The World Bank has predicted Cambodia’s economy will grow by 6.9% this year and by 6.8% in 2018. The Cambodian government is also improving trade and investment policies to facilitate international investors and develop its manufacturing sector with a focus on low-cost and labour-intensive products. The government is also promoting the growth of Cambodian SMEs.
Mr. Chaiyarit said the AEC Business Leader Program focuses on increasing the potential of business owners and entrepreneurs doing business within the AEC. The program also helps reinforce organizational management in line with the Thai government’s Thailand 4.0 policy, and strengthens marketing strategy, brand building and the development of management skills to develop a new generation of ASEAN business leaders who can prosper within the region’s changing business and trade environment. This will equip them with the knowledge and practical skills to run businesses at the country, regional and global levels.
The program also has a team function, where groups of participants create a business plan after receiving training and visiting regional trade and investment markets. A winning business plan will be selected by a panel of leading local and international businesspeople from various fields.
Places for the program’s second class were oversubscribed. The Bank selected 45 high-level executives and business heirs to join the program. Training for the program’s second class will take place every Saturday for nine weeks from February to April, 2017. The participants will visit Sihanoukville, a coastal city in Cambodia with high economic potential, where the government is developing a world-class sea port. This port will help strengthen Cambodia’s trade with the US, Europe, Hong Kong, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Thailand and Vietnam.
“Thai businesses are becoming more interested in investing and doing business in ASEAN, especially the CLMV (Cambodia, Laos, Myanmar, and Vietnam) countries,” said Mr. Chaiyarit. Doing business in ASEAN may have advantages in terms of lower costs and wages, but each country is different. To become an AEC business leader, participants must understand these differences and gain in-depth knowledge of local markets, economic conditions, policies, regulations and transportation routes, as well as build a sound understanding of each country’s people.
“Bangkok Bank is confident our well-designed courses will enable a new generation of entrepreneurs to confidently and successfully enter and operate within AEC markets,” Mr. Chaiyarit said.
The bank organizes the AEC Business Leader Program twice a year, in every first and fourth quarter. Interested people can find more information at www.bangkokbank.com or contact AEC Connect at 0-2230-1507 and 0-2230-2758 or email to AECconnect@bbl.co.th.