Siemens expects high growth in Thailand, Asean CEO says
The largest industrial manufacturer in Europe, Siemens, expects substantial growth in Thailand, especially in green energy and sustainability, the company’s Asean CEO, Thai Lai Pham, said in a recent interview with Krungthep Turakij.
“Siemens eyes substantial growth in Thailand with investments in existing businesses, personnel development, and finding partners to expand into new businesses related to green energy and sustainability,” Pham said.
He said that Siemens’ current business plan in Thailand focuses on digital industries and smart infrastructure. The company aims to sell more of its technology products in the Thai market, he said, adding that Siemens invested 5.6 billion euros (201.5 billion baht) in research and development during its last fiscal year.
The key to Thailand’s success will be upgrading its digital infrastructure, Pham said.
Thailand’s location is attractive, he added, explaining that the country is in the heart of the Asean where investments in technology and manufacturing are growing rapidly.
“Global investors are interested in every country in the Asean region thanks to high investment in infrastructure and supply chains,” he said. “The Thai government must focus on upgrading the country’s infrastructure, especially its digital [infrastructure] to attract investors, boost competitiveness, and improve people’s quality of life.”
Pham added that investments in education and staff training are as important as investing in high-value industries.
“All investment projects must contribute to the development toward sustainability by finding the path that is most suitable for Thailand to achieve the goals,” he said.
“I’m not saying Thailand is currently doing it wrong. But the country needs to improve upon what it has achieved in several aspects, to be even more efficient and ensure the fullest use of FDI,” he said, referring to foreign direct investment.
Sustainability will be the biggest challenge for all businesses, he said, noting that Thailand has pledged to achieve carbon neutrality in 2050 and zero greenhouse gas emissions in 2065.
The effective adaptation of technology to suit business objectives and real-world applications will always be the answer for businesses aiming to increase their productivity and prevent losses amid the shift towards greater sustainability, he said.