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Christina Burke

on 4 May 2014

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Transcript of THAILAND

"Temple of Dawn"
Sports & Leisure Activities
Play many instruments
Buddhist Temples have community centers for sports and social club
Temple fairs with entertainment/food
Soccer and Takraw (using wicker ball)
Golf has become popular
Bangkok International Airport has 18-hole golf course
Thais like to jog, wind surf, big game fish, dive and kite fly (most popular)
Kite flying contests

Thai Boxing (Muay Thai)
Very popular traditional sport
means of self-defense
Orchestra seated by ring
plays traditional Thai instruments
Attire like western boxers
12-16oz boxing gloves, boxing shorts, gloves
Social System
Hierarchical Society
Believes in Karma and previous lives
Eldest is highest ranking and receives most respect
The village is the unit
Monastery serves as main place for education
Malaysian/ Indian influenced
Known for fresh herbs and fish sauce
Do not differ between breakfast, lunch, dinner
Jasmine Rice
Staple component (fragrant)
Typical Thai meal has 4 main seasonings
Salty, Sweet, Sour, Spicy
Meat, fish, veggies, noddles, and soup are common when ordering out
Dessert: fresh fruit or rice cakes, fried pastries
Spring rolls, chicken/beef satay
Food presentation is important/eloquent
5 Major periods

Nancho (650-1250 A.D.)
Thai people founded kingdom called Sukhotai around 1238

Sukhothai (1238-1378 A.D.)
Independence from Khmer and Mon Kingdoms
Called "The Dawn of Happiness" (Golden Era)
Ruled by King Ramkhamhaeng the Great

Ayutthaya (1350-1767 A.D.)
Ayutthaya overthrew Sukothai
Dominated most of southern/centrail Thailand

Thon Buri (1767-1772 A.D.)
Burmese captured Ayutthaya
Phya Taksin, Thai general, drove Burmese out

Rattanakosin (1782- Present)
General Chakri- first king of Chakri Dynasty

1800s- Europeans colonized:
- Burma/ Malaysia = British
- Vietnam = French
- Thailand, however, fended off colonization
1932: Military forces staged coup d'etat
- Transformed country to Constitutional Monarchy

Colin Cooper
James Hagan
Jefferson Brown
Christina Burke

Thailand: 198,000 sq. miles
Borders: Myanmar (Burma), Laos, Cambodia, Malaysia
Highest Point: Doi Inthanon (8,415 feet)
Climate: Tropical monsoons with rainy season (June -Oct)
Dry season ( November)
Avg temp: High (100 F)
Low (66 F)

Capitol: Bangkok (8 million)
Population: 66.79 million (2013)
Major Cities: Nonthaburi (265,000)
Chiang Mai (1.6 mil)
Pak Kret (175,000)
Language: Thai
Minority Languages
Government: Constitutional Monarchy
Prime Minister: Yingluck Shinawatra (2011)
Religion: (95% Buddhism)
(4.5% Muslim)
Current Prime Minster: Yingluck Shinawatra (first female and youngest to rule)
Type: Constitutional Monarchy
Constructed by system of centralization
Constitution= highest law
Legislative Power
Approves all matters of nat'l policy
Judicial Power
Law courts with 3 levels
Court os First Instance
Court of Appeal
Supreme Court
Executive Power
Exercised through Cabinet by Prime Minister
Head of armed foces/upholder of religion
Thai Etiquette

The Wai
Traditional form of greeting- given by person of lower status to higher status person
pressing palms together at chest & bowing head slightly
Hello, Thank you, Goodbye
Gift Giving
Bring a small gift for anyone who works for you regularly. Items such as books, special food items and pens are appropriate.
Give a gift with your right hand and receive a gift with your right hand. You should also offer a wai.
Do not open a gift you've been given unless invited to do so. Thais generally do not open a gift in front of the giver.
For the hostess give: Fruit, flowers, cakes, brandy/liquors, candy.
In business, give Brandy, liquors, American crafts, books and desk attire are appropriate gifts.
Table Manners
Business Briefing
-Newly industrialized nation

-Heavily export-dependent

-Mixed economy (government and private sector)

-GDP of $366 Billion

-Second largest economy in southeast Asia

-GDP grows by about 5% annually

-Agriculture is main source of employment
The Greeting:

Business Briefing
Economic Freedom - freedom to choose how to produce, sell, and use your own resources, while respecting others' rights to do the same

-According to the 2014 Index of Economic Freedom Thailand ranks #72 throughout the world

-Low score due to declines in labor freedom, control of government spending, and increase in corruption

Top individual income tax rate = 37%

Top Corporate tax rate = 20%

Other taxes include VAT (value added taxes) and property tax

Tax system is very complicated and paying taxes is difficult
-Export driven country

-Major exporter of industrial goods

-Most exports are manufactured and processed, whereas imports are mostly raw materials and machinery

-Top exports include: computer parts, rubber, petroleum, trucks, and sugar

-Political unrest has caused a decrease in foreign investment recently

-Part of the ASEAN group (Association of Southeast Asian Nations) which aims to remove trading barriers
-Has worked through ASEAN to remove trade barriers but old regulations still make it difficult to trade

-Import licensing is required for most products entering the country

-Export taxes on goods are required to prevent domestic shortages and to benefit the environment/public health

-Subsidies have been eliminated on most exports to promote international sales

-Tax advantages for foreign investors to increase foreign investment
Costs of Doing Business
-Reserve a company name online =
1 day

-Deposit paid in capital in bank =
1 day

-Obtain a corporate seal =
4 days

-Get approval for memorandum of association, apply to register the company as a legal entity (final registration) and also submit company work regulations =
22 days

OVERALL COST = At least 9,000 Thai Baht ($280)
Costs of Doing Business
-Construction permits = 8 steps with up to 160 day wait

-Getting electricity = 4 steps with up to 35 day wait

-Registering property = 2 steps with up to 2 day wait

Thai Etiquette (continued)
Business Etiquette

Prefer doing business with respected people
May take several meetings to build trust
Formal communication
Rank is respected
Hard for Thai's to say no
Body language is crucial
Business Meeting Etiquette
Appointments are necessary
Punctuality is important
Send agenda prior to meeting in English and Thai
Patience is key
Business cards
Given out after greeting
Use right hand to deliver
Acknowledge card for a few seconds
Dress Etiquette
Attire is conservative
Men = Dark business suits
Women= Conservative business attire
Thai's judge people's clothing
Popular Thai Food
Tom Yam Goong
Chicken Pad Thai
Gai Med Mamuang
(Cashew Chicken)
Som Tam
(Papaya Salad)
Thai Family Structure
Strong family ties compared to western culture
Several generations have lived in one place
Parent's house is given to youngest daughter
Oldest man is patriarch
Thai man must meet whole family of bridge before engagement

Thai Food (continued)
Current News







-Currently facing political unrest
The elections went awry
Anti-government protests lead by The People's Democratic Reform Committee started becoming violent in February '14
Leader, Suthep Thaugsuban, has called for peaceful protests but that has not been the case
92 of 375 constituencies reported voting related incidents
Laksi, a part of the Bangkok district, postponed voting for about 87,000 voters due to violent/gun related protests
This unrest began during the Prime Minister's (Yingluck Shinawatra) campaign in November
Yingluck's brother was the previous Prime Minister but was overthrown in a military coup and is now living in exile but the opposition believes he is still running politics from afar
He fixed a Government auction so he could buy some land
95% of population is Theravada Buddist (official)
Compassionate and tolerant religion
aim to alleviate suffering
no "god" only spiritual beliefs
monks visit new homes and "bless" them

Wat (temple) hosts majority of festivals/events
community center
Thai are respectful to non-Buddhists
Welcome visitors to learn about religion
Some wats allow visitors to talk with monks
practice meditation as a means of self- reflection

Chaing Mai
largest monastery (more than 300 temples)
famous for cool climate, beautiful scenery, and handicrafts
Ranked as one of the best places to retire in world

only 4% of Thai's are muslim
Other religions
Hinduism, Confucianism, Taoism, and Christianity (mostly in Bangkok)
Chang Mai Flower Festival
Feb 1-3
Held to promote flowers growing
colorful floats and parades
Maghia Puja Day
Full-moon day of 3rd Thai Lunar Month (Feb 25)
Holiest Buddhist holy days
"Day of Love"
Songkran Festival
April 13-15
Traditional Thai New Year
honors elders with parades
Loi Krathong (Festival of Light)
Full-moon day of 12th Thia lunar month (Nov 17)
Lanters released on water to bring luck and fulfill wishes
Why Do Business In Thailand?
Current News
Yingluck is also under scrutiny for other issues
Illegally demoted the head of The National Security Council
The rice subsidy program she initiated had success in the beginning but has gotten her in trouble now
Thai gov't bought farmers' crops at prices up to 50% higher than world prices
The program lead to a severe decrease in rice exports (over $4.4 billion)
Thai government has recently stopped paying subsidies, big cause of protests
20 deaths since November
Yes and No
-Corruption in the government will make things difficult
-Thailand's marketplace is not nearly as expansive as many other countries

-Thailand wants to expand business as mentioned tax breaks for foriegn investment
-Bangkok is a cultural hub and workspace can be found for much cheaper than other places

Final Conclusion
You can make an investment to do business here but it may not pay off for a while.

B2B companies have been very successful. If you were to open a company I would look at that as opposed to B2C

Not an instant success in this marketplace, costs will be lower but with time you can grow a decent company
Colin with sunglasses
Takraw Video
Full transcript