ABAC campaign aims to raise Thai people's awareness on role in boosting the economy
The Asia Pacific Economic Cooperation (APEC) Business Advisory Council 2022 (ABAC 2022) has launched a campaign to raise Thai awareness of their role and the importance of each involved party in driving the country's economy both locally and regionally in the Asia-Pacific.
The campaign's concept is "Business of the People”, which includes two important components. The first are survey results from the business sector, also known as the "Business of the People Poll”. The second is a short film that follows the development of a community enterprise.
Kriengkrai Thiennukul, president of the Federation of Thai Industries (FTI), said at the press conference on Wednesday that the campaign would emphasise the importance of the APEC CEO summit to the country and its people.
Furthermore, it would be another example to inspire Thai people to participate in the event, said Kriengkrai.
Sanan Angubolkul, chairman of the Thai Chamber of Commerce (TCC), noted that the summit would allow Thailand's small and medium-sized enterprises (SMEs) to learn from the other 21 APEC member economies, which will boost their confidence and potential to the next level.
The institute polled 451 Thai entrepreneurs nationwide about the factors, challenges, and possibilities of future business growth in order to gain a better understanding of the facts and perspectives driving the economy from the participant's perspective.
The poll revealed the business sector's confidence for the next 5 to 10 years. The business community believes that the economy will recover and that opportunities will grow and expand.
Factors thought to aid recovery include the use of technologies and digitalisation to support consumer behaviour adaptation, the importance of sustainability, and the application of the Bio-Circular-Green economic model.
Similarly, recommendations from the business sector have been received, and these recommendations will be included in the policy proposals that will address such pressing issues.
The majority of respondents agree that the government and private sector collaboration to improve multi-level business cooperation to create environmental sustainability, such as green economy, is important.
Respondents also want the government to make it possible for communities to monitor product and ingredient cost per market mechanism, as well as monetary assistance, such as money for business recoveries and cost control.
They also advocate the reduction of bureaucracy in the public and government sectors, as well as political stability and policy regarding laws that benefit businesses.
Meanwhile, Kriengkrai described the ABAC short film as encapsulating ABAC's mission: encourage people to work together to drive the economy and achieve a comfortable life for all.
He said that ABAC has decided to use a case study of a community enterprise in Nam Chun, Lom Sak, Phetchabun province.
It follows Nipon Pila, a former designer who decided to become a next-generation farmer. His story demonstrates that by improving, elevating, and driving the business to adapt to the changing social landscape, anyone can succeed.
It also demonstrates Nipon's success, which results from collaborating within his community to build collective strength by moving forward together.
Sanan noted that economic growth is everyone's responsibility and duty. That is why, through the film, ABAC would like to present the success story of a small entrepreneur who was able to integrate and achieve a sustainable business through drive and persistence.
The APEC Business Advisory Council consists of representatives from three groups: the Federation of Thai Industries, the Thai Chamber of Commerce, and the Thai Bankers’ Association. These three sector groups are also known as the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB),
This year, the Thai private sector will chair the APEC Business Advisory Council and host the ABAC meeting from November 14 to 16, and the APEC CEO Summit 2022 under the theme “Embrace, Engage, Enable”.
The main summit will be held from November 16 to 18 at the Athenee Hotel, a Luxury Collection Hotel Bangkok.
