Danish subsidiaries in Thailand created 19.269 new jobs from 2007 to 2009. The most significant growth was seen in the ”transportation and telecommunication” sector. A 110% growth rate is shown, according to Statistics Denmark.
In the year 2007 the number of Danish subsidiaries was 51 with a total of 30.583 employees. Two years later, there were 55 subsidiaries with a total of 49.852 employees. In other words, each subsidiary now employs more than 900 people in average.
Viking Lifesaving-equipment is one of the successful Danish subsidiaries in Thailand.
”Viking in Thailand has doubled the number of employees over the past three years. We are very happy to have our production facilities here as the Thais are a good workforce. They are well-educated and the cost of production is quite stable compared to other countries in Asia, like China as example”, says Morten Halfdan Petersen, Managing Director at Viking Lifesaving-equipment, Thailand.
Also the finance and industry sectors showed double digit growth rates, while less growth were found in ”hotels, restaurants and trade” with a 9% growth rate.
Statistic Denmark defines a Danish subsidiary as a company fully owned or controlled by a Danish company. If controlled, the Danish ownership will in most cases exceed 50% of the ownership.
The huge number of employees in the “business services” category can be partly explained by the presence of two large Danish daughter companies here, ISS Facility Services and G4S Security Services. According to the Member Directory of Danish Thai Chamber of Commerce these two companies alone employ together 23.000 Thai people.