Our first issue of TFCC News is out. Please, read the latest news from TFCC and its members!
THE FULL NEWSLETTER IS HERE – June 2019
On June 6, 2019, The Embassy of Finland and TFCC organized “Waste-to-Value” Business Opportunity Validation Workshop, the goal of which was to present some identified market opportunities suitable for the Finnish companies working in this sector, and get comments and suggestions from participating companies on how to tap into these opportunities. The event also provided a perfect platform for the key players, which have already established their operations here, for exchanging ideas and experiences, related to issues associated with waste management.
In total, 39 participants (representatives from Finnish and Thai businesses, Thai state officials and University scholars) shared their views on existing opportunities and barriers which slow down the business development in this sector.
The participants identified the following challenges for Finnish companies which impede winning the deals from ongoing and upcoming local projects:
1) Understanding the real needs of customers and decision-making criteria;
2) Understanding the local culture and conditions for participating in the upcoming bids; (Very often the participation process is non-transparent and the bids are won by those, who are in close connection with the decision-maker);
3) Price-quality ratio; (Finnish companies usually have to master so-called “value selling”, as they are hardly ever the cheapest solutions. The stress should be made on the unique value they offer to the local customer);
4) More commitment from the Finnish side; (Selling the products/services via local partners without active participation in terms of investment will not lead to a successful business in Thailand);
5) Project financing; (Finns should offer competitive financing. Otherwise, it is very difficult to win deals against competitors from Japan, South Korea, China as well as from other western countries, which sometimes offer their solutions with a set of complete financing instruments);
The participants agreed on the following possible ways to overcome these barriers:
1) The TFCC and the Embassy could open the doors to government and high-level decision –makers. Just talk to us!
2) TFCC can help in finding reliable local partners (this is a service which helps the companies to find the best possible expert to develop the Value Proposition and engage successfully with the right partners in the right sales channels);
3) TFCC can help sharing the knowledge and information. The Chamber offers a “mentoring service” which connects the newcomers to the industry experts and “product champions”;
4) Organization of seminars, market updates and workshops (where participants can further exchange their experiences and interact with each other).
How investment policy is promoted and supported in Thailand? Is it getting easier for foreign companies to start the business here? Which industries are in high priority for investment? What are the incentives for the new companies to step into the Thai market? How much investment has been already attracted within Thailand 4.0 program? The answers to these and other investment related issues can be obtained at the joint Nordic Chambers seminar, which will take place on June 20, 2019, at 16:30 – 18:30, at the Embassy of Denmark. The main speaker is the Secretary General of Board of Investment, Khun Duangjai Asawachintachit.
TFCC would like to welcome our newest Corporate member, Peikko Group.
Peikko is a family-owned international company founded in 1965. It is headquartered in Lahti, Finland. Peikko supplies a large selection of concrete connections and composite beams for both precast and cast-in-situ solutions in a wide variety of applications. Peikko’s innovative solutions make your construction process faster, safer, and more effective. Peikko’s network covers local offices in 34 countries and certified own production in 10 countries worldwide.
Our aim is to serve you locally with leading solutions in terms of quality, safety, and innovation. Peikko has a clear focus on regularly introducing new, tested innovative solutions and services.
P.O.Box 104, Voimakatu 3, 15101 Lahti
Tel.: +358 20 707 511
Name: Mr. Triaskin Dmytro, Business Development Manager