The American Chamber of Commerce in Thailand (AMCHAM) honored its members’ best corporate social responsibility (CSR) programs at a ceremony presided over by U.S. Embassy’s Charge D’affaires Patrick Murphy. The eighth annual AMCHAM CSR Excellence (ACE) Awards recognized 52 companies for their exemplary CSR programs and their dedication to improving their communities.
To qualify for an ACE recognition, a company’s CSR program must receive high marks in four categories: (1) Attention to business objectives and societal needs; (2) Creation of long-term economic and social gains; (3) Communication and sharing of best practices; (4) Program sustainability.
Patrick Murphy congratulated the honorees and lauded their innovative programs aimed at bolstering the communities in which they operate. “Year after year, you partner on the community level on education, health, environment, nutrition, financial literacy, and your commitment to your communities is really impressive,” he said.
AMCHAM Board President Darren Buckley also highlighted the importance of giving back: “This Thursday is Thanksgiving Day in America, a time for reflection, gratitude and sharing. What would be a more appropriate time of the year than now to recognize AMCHAM member companies’ commitment to their employees, communities and society in Thailand?”
Special designations were given to firms that have received the ACE award for five consecutive years (Gold Award), three consecutive years (Silver Award), firms with excellence in creativity and innovation (Creative Partnerships), and recognition for small and medium-sized businesses (SMEs). Click here for a list of award recipients.
AMCHAM CONCERNED ABOUT RUMORED CHANGES TO FOREIGN BUSINESS ACT
In reference to news media reports that the Royal Thai Government is preparing a draft bill to amend the Foreign Business Act BE 2542 (“the FBA”), the American Chamber of Commerce in Thailand (AMCHAM), whose member companies have invested over U.S.$50 billion in Thailand, would like to highlight that it welcomes an opportunity to review and provide input to any proposed amendments to any local laws that may impact the foreign business community in Thailand as part of a thorough and transparent consultative process.
However, at a time when Thailand’s exports, tourism, and domestic economy are struggling, and when Thailand’s competitors in ASEAN and Asia are firmly set on a liberalizing track, any amendments that are protectionist or more restrictive in nature, as well as being retroactive in application, will only further damage foreign investor confidence, likely lead to a significant reduction in foreign private investment, and harm Thailand's regional competitiveness.
“We sincerely hope the Royal Thai Government will not rush to enact restrictive and damaging amendments that will adversely impact the Thai economy,” says Darren Buckley, President of AMCHAM’s Board of Governors.
AMCHAM believes that the current government, as repeatedly stated by the Prime Minister to the foreign community, is sincere in its commitment to support and encourage further foreign investment, and we stand ready to assist in amending current restrictive and outdated legislation and regulations for the benefit of Thailand and foreign investors alike.
A list of new members and member updates can be viewed and downloaded for your records. Please update your records monthly!
Thank you to all Ordinary Members who exercised their right to vote in the Board Election. The voting was closed at AMCHAM's Annual General Meeting which was held on October 28. The following candidates were elected to serve two-year terms on the Board:
AMCHAM congratulates the newly-elected Board members.
U.S. companies in ASEAN expect investment expansion, workforce growth, and profit increases in 2015 according to the ASEAN Business Outlook Survey. The survey was designed and implemented by the U.S. Chamber of Commerce and the American Chambers of Commerce in ASEAN member countries and included 588 business executives representing small, medium, and large U.S. companies in all ten ASEAN countries.
Respondents in Thailand have a positive outlook on the current business climate with the majority not facing significant financing constraints nor seeing higher cost of borrowing. Business expansion remains high with 62% of the respondents saying they expect their companies in Thailand to expand, a dip since last year’s 75%, but the profit outlook remains strong with 82% expecting increased profits.
On September 18, AMCHAM Myanmar celebrated the addition of its 100th member, Procter & Gamble Myanmar. This milestone event, which took place in Park Royal Hotel's new Club 5, was sponsored by CEA Project Logistics Myanmar and Park Royal Hotel Yangon. For more information and photos from the event click here.
The Thai-U.S. Creative Partnership was created to build on more than 175 years of successful political alliance between the United States and Thailand, by leveraging American strengths in support of Thailand’s creative industries. To learn more about the variety of activities that define this initiative, visit the Creative Partnership at www.creativepartnership.org
AMCHAM is making a targeted effort to extend its membership base and activities outside of Bangkok. If your company is located outside of Bangkok in one of the designated areas, you may be eligible for AMCHAM membership at reduced rates. Click Greater Thailand AMCHAM Membership Brochure or Join AMCHAM for more information, including eligibility requirements.
Intellectual property rights (IPR) encourage the innovation and creativity that is fundamental to sustained economic growth. Unfortunately, the growing global trade in pirated and counterfeit goods threatens innovation, workers' livelihoods, health, and safety. Fake products - such as CDs, DVDs, software, electronic equipment, clothing, pharmaceutical products, and auto parts - account for an estimated 5 to 7 percent of global trade. This trade costs legitimate rights holders around the world billions of dollars annually.
The Strategy Targeting Organized Piracy (STOP!) is a comprehensive program to stop trade in pirated and counterfeit goods. www.StopFakes.gov provides information about obtaining and enforcing intellectual property rights.