On 5 October the Thai-Swedish Chamber of Commerce arranged what seemed to be a slightly new networking concept: ‘TSCC Business Talks’. The attending members and other guests of TSCC were in good company as Business Sweden as well as Nordea Private Banking, represented by Vlad Månsson and Fredrik Lager respectively, were the speakers for the evening (held at Landmark Hotel in Bangkok).
The topic was ‘Capture the business opportunities in the new Mekong growth markets’ where Vlad Månsson gave a highly interesting teaser of a forthcoming report from Business Sweden. He pointed out how Business Sweden helps Swedish companies reaching their full international potential and it is in that setting that growth markets in Southeast Asia is of relevance.
He presented the emerging market Myanmar as characterized by a large population, high growth and rapid development.
Other than that he focused on the Mekong growth market, where Business Sweden’s research show that Sweden is behind Nordic and European peers in exports and FDI. Meanwhile, Swedish industry matches well with the investments going into the Mekong region. And there is in particular high demand for modern and qualitative transport solutions.
The food and beverage sector is another growth market. World leading F&B companies have been present for years and are ramping up investments.
Investment in the Mekong countries however does not come without business challenges that should not be underestimate, Vlad pointed out and mentioned for instance rampant corruption and the challenge in finding the right local business partner.
Fredrik Lager, Nordea Private Banking Singapore’s new General Manager focused on highlighting the new regulations that are coming fully into effect in 2018 in a number of countries, the so called Common Reporting Standard, CRS, by the OECD countries – to which most countries have already signed up. The CRS means that all banks will have to report on all account holders to the tax authorities. The information will then be shared with the country where one is a registered tax resident.
After the presentations the evening continued with beneficial discussions over drinks and canapés.