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Bangkok Times or Time to Avoid Bangkok
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Bangkok Times or Time to Avoid Bangkok
Do you remember the best selling song about Bangkok?
Where were you when you first heard it? Who sang it? (answer to the questions at the end along with a little surprise)
When I first visited Bangkok in 1986 , as a twenty something international business student studying at the International Institute of Studies and Training “IIST” in Shizuoka, Japan, Bangkok was part of our extra-curricular Asian studies.
At the time, the Japanese makers (Toyota, Nissan, Isuzu, Matsushita, Hitachi) were spending millions expanding their global production facilities with an aggressive Asian wide expansion plan. Japan was still growing into their role as the economic dynamo and visiting Bangkok gave me a perspective of what could happen when people and businesses might take their successes to extremes.
For us students, it was fascinating to explore Bangkok in 1986, as it was known as a city of cheap copies, the city where you could buy a knock off Rolls Royce if you like and where fake watches, shoes, bags, golf clubs, and clothing was readily available on most street corners.
Bangkok was the place where dreams were realized and the shopping illusion was made a reality for anyone who wanted to play the game. It was a Disneyland for Adults, especially adults of the consumer generation.
I was blown away by the number of folks that were involved in the industry and i rationalized much of my shopping for fake watches, tailored suits, shirts, and shoes (my feet were thrilled), and numerous human experiences as a ways and means to support and assist this developing nation.
Let’s fast forward to 2007, I was in Bangkok as the key speaker for the XL Entrepreneur Life Shift program and yes my priorities have shifted to an area called social entrepreneurship (www.soe.org.sg). In walking the streets of Bangkok (it was my 30th time in Bangkok), I was wondering how is Thailand doing towards their Millennium Development Goals (MDGs)?
The MDGs are eight goals to be achieved by 2015 that respond to the world’s main development challenges. The MDGs are drawn from the actions and targets contained in the Millennium Declaration that was adopted by 189 nations-and signed by 147 heads of state and governments during the UN Millennium Summit in September 2000.
The 8 MDGs break down into 18 quantifiable targets that are measured by 48 indicators. For details about the UNDP activities inThailand please visit http://www.undp.or.th/mdg/index.html
Goal 1: Eradicate extreme poverty and hunger
Goal 2: Achieve universal primary education
Goal 3: Promote gender equality and empower women
Goal 4: Reduce child mortality
Goal 5: Improve maternal health
Goal 6: Combat HIV/AIDS, malaria and other diseases
Goal 7: Ensure environmental sustainability
Goal 8: Develop a Global Partnership for Development
Despite what most people might think about Thailand, Thailand is doing rather well, for example, having already reached the international MDG target of halving the proportion of people living in poverty between 1990 and 2015, Thailand has set an MDG-plus target of reducing the proportion of people in poverty to below four percent by 2009. If successful, this will represent a stunning four-fifths reduction in poverty since 1990.
MDG-plus targets have also been set for education, health, gender equality and the environment. It appears that the Thai government, with the support of UNDP and the World Bank, are on track in Thailand and it is being used as an example of how the MDG framework can be successfully adapted to a middle income country.
On the one hand, well done Thailand and on the other hand, what can be done to work more collaboratively with entrepreneurs to shift the entrepreneurial spirit into action throughout Thailand.
During the Entrepreneurship weekend in Bangkok, more than 60% of the participants noted that the upcoming election and the health of the King are the two big uncertainties for Thailand.
In discussions,
1) Government make it easier for entrepreneurs to establish businesses and make the “rules of the game” easier to follow – key question – what can we learn from Singapore about transparency, technology, blending the two in our governmental operations?
2) Attracting Talent – middle managers and upper executives are not keen to make the move to Thailand creating a vacuum for top level talent – key question – what are Hong Kong, China, India, Singapore and even Dubai doing to make themselves attractive for talent?
3) Volatility & Market Opportunities – the only thing that we can be certain about in Thailand is the uncertainty and the potential for higher volatility in the next twelve months. Recommendation is to look for investment opportunities selectively in Thailand and with investment horizons that can be stretched without undue pain or agony. Risk premium up and eyes and ears open.
Answers to quiz, I was in Toronto, selling cars and dreaming of doing my MBA and moving to Tokyo, Japan
Originally released 1984 by Murray Head – One Night in Bangkok
http://www.youtube.com/watch?v=Vgg2Aj9vfiM
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