Issuu

March 2022

T-AB

THAI-AMERICAN BUSINESS

INSIDE THIS ISSUE: THAI PDPA COMPLIANCE: GLOBAL PLATFORM SERVICE PROVIDERS ARBITRATION CLAUSES IN EMPLOYMENT CONTRACTS IN THE SPOTLIGHT: DEBORAH SEIFERT OF PFIZER WELCOME NEW MEMBERS

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Thai-American Business ISSN-T-A 0125-0191

Contents

March 2022

LETTERS 06

Executive Director

FEATURES 08

Thai PDPA Compliance: Key International Players and Global Platform Service Providers

Linking Salary to Skills: How to Reward and Retain Talent in the New World of Work

LEGAL UPDATES 14

Arbitration Clauses in Employment Contracts: the US vs. Thailand

Minority Shareholder Protection in Thai Companies

GOVERNMENT ENGAGEMENT 18

Senior Bureau Official Harry Kamian from the US Bureau of Energy Resources Meets Long-Standing American Investors in Thailand Virtual Membership Meeting with Creative Economy Agency

FOUNDATION 20

Meet AMCHAM Foundation Scholar Oranuch Songsirichai, Class of 2015

IN THE SPOTLIGHT 22

Deborah Seifert of Pfizer

MEMBER NEWS 24

Organon Prioritizes Women’s Health on IWD

ERM Recognized in New ESG Strategies Report

EVENTS 26

Thailand’s BCG Strategy and the National Determined Contributions

Thailand Tourism Forum 2022

Member Luncheon: Thai Property Market Update 2022

The Governors’ Table @ The Sukothai Hotel

NEW MEMBERS 32

Welcome New AMCHAM Members

DISCOUNTS

18 4

AMCHAM Affinity Program

AMCHAM BOARD OF GOVERNORS 2022 PRESIDENT Jeffrey Nygaard, Seagate Technology VICE PRESIDENTS Ornkanya Pibuldham, Bank of America N.A. Tibor Pandi, Citibank Charles Blocker, IC Partners Arpaporn Samabhandhu, Johnson & Johnson TREASURER Aileen Chew, Mastercard SECRETARY

Letter from the Excutive Director Dear Members, I hope that you and your teams have experienced a great first quarter of 2022 and are looking forward to a festive Songkran season. In my conversations and meetings with members, I can feel the buzz of activity as we emerge from under the shadow of the pandemic and focus on business recovery and new opportunities.

Eliot Delunas, Nitro Labs GOVERNORS Viboon Kromadit, AMATA Nara Decharin, Baxter Healthcare Jeff Lehrmann, Chevron Rachel Davidson, Hilton & DoubleTree Sukhumvit Bangkok Deborah Seifert, Pfizer Kaveepan Eiamsakulrat, The K.E. Group Noah Shepherd, Stanley Black & Decker John Evans, Tractus PAST PRESIDENT Greg Wong, Agoda BOARD ADVISORS David Lyman, Tilleke & Gibbins AMCHAM President in 1975, 1986 Harold Vickery, Jr., Prem Tinsulanonda International School AMCHAM President in 1984 EXECUTIVE DIRECTOR Heidi Gallant T-AB Magazine is a publication by The American Chamber of Commerce in Thailand. 7th Floor, GPF Witthayu Tower A 93/1 Wireless Road, Bangkok, 10330 Tel: +66 (0)2 254-1041 Fax +66 (0)2 251-1605 www.amchamthailand.com Editorial Advisory Board: Heidi Gallant, Harold Vickery, Jr.

AMCHAM is always here to help with connections and information sharing, both online and face to face. Our signature boutique in-person events, such as our Governors’ Table dinners and our newly introduced Factory Tour, have consistently booked out due to popular demand. We’ve noticed, however, that members are cautious about attending larger functions at the moment and have been more enthusiastic when those events were offered in an online format. At AMCHAM, we are ready and eager to offer our full range of events, but we are constantly monitoring our members’ sentiment to ensure we meet your needs. We have three new AMCHAM officers to introduce to you this month. Khun Ing, Arpaphat Amatah-Archachai is our new Membership Officer, Khun Graffy, Tirin Kaewlaiad, is our new Communications and Committee Officer, and Khun Jan, Gawinnart Phupianlert, our new Junior Communications Officer. Please join me in welcoming them to the team as they begin their career journey with AMCHAM. Finally, I hope you will join us for the first of our two Annual General Meetings in 2022, where we are welcoming the Minister of Natural Resources and Environment. At this meeting, we’ll also give members an update on our AMCHAM’s financial position, and ask for your approval on our 2021 Audit and 2022 Auditor. Please click here to register for the virtual AGM. I hope to see you then if not before!

Editorial Team: Varsha Wadhwani Any opinions expressed in articles in this magazine do not necessarily reflect the views of the Chamber. T-AB Magazine welcomes contributions from AMCHAM members. Articles may be reproduced with acknowledgement,

except those taken from other sources.

Sincerely, Heidi

FEATURES

Thai PDPA Compliance:

Key International Players and Global Platform Service Providers By Kraisorn Rueangkul, Ng Woan Na, and Yada Hongchayangkool, DFDL

After nearly two decades in the making, the Personal Data Protection Act B.E. 2561 (PDPA) was published on May 27, 2019. Ostensibly inspired by the EU General Data Protection Regulation, the PDPA was slated to go fully effective in June 2022 following a two-year delay due to Covid-19 outbreak. Being a consolidated law governing the protection of personal data of data subjects, the PDPA applies to both data controllers and data processors who are in Thailand, whether a natural person or juristic entity, regardless of whether the collection, storage, usage, disclosure, or processing of personal data takes place inside or outside of Thailand. In the event where the data controller or data processor is located outside Thailand (for example, key international players and global platform service providers), and collects, uses, or discloses personal data of a data subject who is a Thai resident, such data controller or data processor will similarly be subject to the PDPA if their activities relate to: 8

• •

offering of goods or services to a data subject in Thailand, irrespective of whether the data subject is required to make a payment; or monitoring of data subject’s behavior as far as his/her behavior takes place in Thailand.

Trust is indeed an essential ingredient in managing data, including facilitating its exchange. Businesses and individuals need to trust the online platform as a means of transmitting and providing access to confidential and often sensitive information; they also need to trust that the systems which protect that data are safe, secure, and reliable. Accordingly, many companies, both local and foreign, have placed efforts in taking good data privacy practices to gain competitive advantage. Legal Basis for Collection and Processing of Personal Data Under PDPA, the collection, usage, or disclosure of personal data requires explicit consent from data subjects or having a legal basis for data processing as provided under the PDPA (for example, prevention or suppression of danger to

data subject’s life, body or health, performance of contract, or legitimate interests of the data subject). PDPA places additional restrictions on treatment of sensitive personal data (for example, race, ethnic origin, political opinions, and religion of data subject). Given its vulnerability, the collection and use or processing of sensitive personal data generally requires explicit consent from the data subject, unless exempted by exceptions prescribed under the PDPA (for example, legal claims, vital interest, substantial public interest, or made by data subject). Obligations of Data Controller Upon collection of personal data, the data controller is obliged to notify the data subject of the required particulars (for example, purpose of personal data collection, legal basis of collection, retention period, disclosure, or transfer of personal data to third parties and rights of the data subject). In addition, the data controller is required to comply with operational requirements, including to put in place security standards and measures to

protect personal data from unauthorized access, prevent unauthorized use, or disclosure of data by person/entity to which the data is disclosed, put in place a system to erase or destroy personal data, and notify any data breach to the Personal Data Protection Commission (PDPC) and/or data subject. Cross-Border Data Transfer Cross border transfer of personal data requires implementation of sufficient security measures by the destination country and such security measures shall be in accordance with criteria and conditions as prescribed by the PDPC, unless being exempted by certain circumstances under the PDPA. As of submission deadline for this article, the PDPC has yet to announce the prescribed criteria, conditions, and details of overseas data security measures which they see as sufficient for protecting the data subject’s personal data. In principle, PDPA requires that for transfer of personal data outside of Thailand, the destination country must have adequate personal data protection measures. Based on the draft implementing regulations by the PDPC (as of February 2021), the PDPC has the power to announce a list of destination countries or

international organizations which are considered to have adequate protection measures and the list could be reviewed every four years.

overseas data controller, the PDPC has authority to impose relevant penalties on that designated representative in Thailand.

In case the destination country does not have adequate protection measures, the transfer of personal data may be permissible if the data controllers put in place the data protection policy commonly used within a group of companies which has been reviewed and approved by the PDPC. The draft provides the list of minimum requirements for the policy. For example, the contact details of responsible persons in the group, the types of personal data, purpose of processing, assessment of impact to data subjects, and details of destination countries. It also considers contractual obligations and commitments with respect to personal data protection effective between entities in the group and third parties which align with the PDPA, implementations for data subjects to exercise their rights under the PDPA, compliance monitoring mechanisms with respect to the personal data protection policy, cooperation mechanisms with the regulator to inform on changes to the policy, inspection and audit, and robust trainings for personnel in the group.

The Draft Royal Decree on the Digital Service Platform

Representative of Overseas Data Controller If a data controller is located outside Thailand and involved in either of the following activities: (i) offering of goods or services to data subject in Thailand; or (ii) monitoring data subject’s behavior in Thailand, the PDPA prescribes that an overseas data controller is required to designate a representative in Thailand in writing. Upon any commission of an offence under the PDPA by the

Kraisorn Rueangkul is Partner at DFLD with specialization in public private partnerships and experience in crossborder mergers. 10

In parallel, Thailand has also put in place a Draft Royal Decree regarding regulation of digital service platforms (Draft Royal Decree on the Digital Service Platform), which specifically governs operators of digital platforms that act as a medium between users and business operators, and where exchange of goods, services, or intangible assets occurs on the platform. The extraterritorial scope of the Draft Royal Decree on the Digital Service Platform extends to any digital platform operator overseas, provided that such digital platform includes particulars such as having certain or all contents in Thai or accepting payment in Thai baht. Any digital platform operator which falls within this legislation shall have the duty to notify its operation to the relevant authorities prior to operation in Thailand, submit annual reports, and comply with operational requirements prescribed thereunder. Any violation of obligations under the Draft Royal Decree on the Digital Service Platform constitutes an authority of the relevant authorities to suspend such platform’s operation in Thailand. Although the Draft Royal Decree on the Digital Service Platform has only been recently approved, there is expectation that the legislative body will push this bill forward given that many industries have pivoted online and hurtle headlong into an increasingly digitalized society.

Ng Woan Na is a Regional Senior Legal Adviser and a China Desk representative. Her practice areas are corporate and commercial.

Yada Hongchayangkool is a Legal adviser with experience working on corporate and commercial, mergers and acquisitions.

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FEATURES

Linking Salary to Skills:

How to Reward and Retain Talent in the New World of Work By Juckchai Boonyawat, Mercer The disruption caused by Covid-19 has reshaped the future of work where flexibility is the new arrangement – in terms of location, time, and rewards. Almost 90% of organizations are planning to implement post-pandemic changes to flexible working, with 74% intending to permanently shift to more remote work, according to Mercer’s global surveys. As companies worldwide evolve their workforce strategies, Thai organizations are facing similar pressures in talent management during this new era of flexible work. With a shrinking talent pool due to an ageing population, Thai labor force participation has declined by more than 1.2 million people between 2012 and 2019. This means companies need to do more with less manpower, with a greater emphasis on keeping the workforce agile and relevant with up-to-date skills. Central to this challenge is how companies reward and retain their employees, a priority that is especially pertinent in view of the rapidly changing business and work environment. How can Thai companies cater to a more flexible workforce as well as develop the skills they require for future success? A vital solution lies in implementing a skills-based reward strategy. Employees will be motivated to upskill and enjoy clear career progression in this age of flexible work, paving the way for better business outcomes. The Great Work Disruption The pandemic has accelerated the need for a new way of working due to greater digitalization and shifts in economic interests. 12

But every crisis comes with a silver lining with the reinvention of business and work models to increase employee engagement and work performance. The physical workplace is now replaced with a new hybrid style of working. The workweek is also being redefined to fit employees’ schedules – perhaps spelling the end of the nine-to-five routine and the 40-hour workweek. Studies show that weekend work is spiking, with a 200% increase in team chats on Saturdays and Sundays. Such flexibility results in what we call a “globalization of work” where jobs are no longer geographically bound. It means people no longer travel for work, but work relocates for people – with employers having access to a wider pool of talent from all over the world. This new world of work requires new factors for success: Agility and resilience are considered more critical traits, with skills emerging as the new compensation currency. The Great Rewards Review Faced with this new way of working, there is a need

to rethink how employees are rewarded – with a greater focus on skills that drive employee as well as business growth. One approach is to prioritize rewards for skills that are scarce, in-demand, and bring the most business value. For example, there could be a base pay premium of up to 20% for employees with skills in emerging technologies such as machine learning. Such pay premiums could encourage employees to upskill for the future as rewards do motivate behavior. Over time, the focus on skills-based rewards and how the employee impacts business performance should be the key decision for compensation design. This requires a more holistic, data-driven approach towards compensation, such as AI-powered solutions that integrate consulting, technology, and data to give you the information and insight you need to advance skills-based talent and pay practices across your company. The Not-so-Great Pay Rise in Thailand As companies review their rewards strategy, they also must grapple with the prolonged pandemic that has taken a toll on salary adjustments. The average all-in-industry merit increase in Thailand

is projected to be 4% for 2021 – a decrease from 4.3% in 2020. It is, however, likely to rebound to 4.5% in 2022 as growth recovers, led by the life sciences and related high-tech industries. Across different industries in Thailand, there is a disparity in compensation, with related hightech industries expected to pay 32% more in base salaries compared to average wages while some labor-intensive industries such as automotive industry pay less than average benchmark. One way to make sense of salary trends is to get access to market data to assist with compensation planning. Such tools allow companies to take a longer-term view on reward packages that will fit the new world of flexible work, even as cost pressures mount. Yet, one thing is constant: Skills should drive the transformation of talent and reward structures as companies seek to thrive in the future of work. Juckchai Boonyawat is the CEO for Mercer Thailand. He has experience in the financial services industry, asset management, and group employee benefits.

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LEGAL UPDATE

Arbitration Clauses in Employment Contracts: the US vs. Thailand Douglas Mancill, Legal Analytics & Advocacy

The Wall Street Journal reported earlier this month (February 2022) that: “The United States (US) Senate passed legislation barring companies from forcing employees into arbitration proceedings to address sexual-assault and harassment complaints, a significant change to workplace practices in the wake of the #MeToo movement”. According to the Wall Street Journal, the US Chamber of Commerce: expressed concerns about the bill saying in a letter that the legislation was overly broad, and that arbitration provides a “fair, effective means of disputes compared to going to court”. This may help explain the surprise US lawyers and managers have when they encounter Thai law protections for employees for the first time. The arbitration clauses typically found in US employment contracts are almost always unenforceable in Thailand. Adopting US human resources practices and policies in Thailand is very risky. For example, there is no “at will” employment in Thailand. Absent extraordinary circumstances, terminated employees in Thailand are entitled to generous mandatory statutory severance pay. The grounds on which an employer can terminate an employee without incurring an obligation to pay statutory severance are very limited. It is often unclear if 14

such grounds exist. Performance issues are rarely sufficient. Moreover, when an employee reaches the age of 60, she or he can retire as a matter of right. When an employee retires at or above the age of 60, the employer is obligated to pay mandatory statutory severance. An employee with 20 years or more of service is entitled to statutory severance equaling 400 days’ pay. If an employer intentionally fails to pay statutory severance, that employer has committed a crime. (Mandatory statutory severance should not be confused with damages for wrongful or unfair termination, which can be awarded on top of statutory severance in certain cases). If the public prosecutor does not file criminal proceedings, the employee, through his or her counsel, can do so directly. Douglas Mancill is a dual Thai-US national, a lawyer qualified to practice law in California and a co-chair of AMCHAM’s Legal Committee. He is now the managing and founding partner of Legal Analytics and Advocacy.

LEGAL UPDATE

Minority Shareholder Protection in Thai Companies Mike Doyle, Sathima Chintanaseri, and Pakdeenad Supradit N Ayudhya, Seri Manop & Doyle

Under Thai law, many categories of business activities are reserved for majority Thai held companies only. Therefore, one key issue for foreign investors in such companies is how to adequately protect their rights as a minority shareholder. Every company needs to be able to operate as efficiently as possible to be competitive in the marketplace which normally means majority rule decisions in shareholders and board of directors’ meetings. However, from the standpoint of a foreign minority shareholder, it is also very important that mechanisms and safeguards are in place in order that their rights are adequately protected against a potentially overreaching majority shareholder. A degree of statutory protection is already afforded to minority shareholders holding 25% or more of the total shares of the company by way of requiring a super majority (75% share approval) for company actions. The matters required by law to be passed by a super majority are as follows. (Section 1194 of Thailand Civil and Commercial Code, hereinafter CCC) • To alter the provisions of memorandum for a company. • A reduction/increase of a company’s share capital. • A merger/consolidation of a company. 16

Winding up of the company.However, in addition to the above statutory protection, many times foreign minority investors will also attempt to implement additional protections as follows. These rights can be categorized into two types: Economic Right Rights of shareholders related to exit from a company, such as tag-along right. If controlling shareholders wish to transfer their shares to a third-party purchaser, those of non-controlling shareholders will be entitled to collectively sell their respective shares on a pro-rata basis on the same per share price as the majority shareholder. This mechanism is in place to protect minority shareholders from being the remainders when those with controlling interests make the transition of ownership to other business. In the absence of tag-along right, the selling price of the minority shareholder would be pressured at substantially lower than their actual value. Control Right The shareholders’ meeting has control of the Board of Directors, meaning that the company’s directors may be removed by virtue of the resolution of the shareholders’ meeting at any time. Minority shareholders should attempt to secure a right in the company articles of association to nominate

at least one director as their representative in a key executive position such as the Chief Financial Officer (CFO). As far as the approval quorum is concerned, the presence of minority shareholder at the shareholders’ meeting is recommended to constitute the meeting quorum. Moreover, it is vital that a resolution of significant matters should require affirmative votes of minority shareholders, for example, the reserved matter shall be passed by not less than 80% to 100% of the total votes of shareholders present at the meeting. Such significant matters shall be stipulated in the company’s articles of association and/or shareholder agreement. The highlight of the reserved matters is, for example, any matter

that requires special resolution as prescribed by the CCC, such as borrowing, or obtaining credit facility, entering into any transaction that causes a company to incur indebtedness, engaging in high value transaction, sale, or transfer, revoking the license in operating company’s business, and any procedures or transaction that might cause the proportion of the minority shareholder’s shares to being diluted. In addition to providing minority shareholder additional protection, the above stated minority protection mechanisms may also have the additional benefit of increasing the company’s ability to raise capital due to its good corporate governance and boosting investor confidence.

Mike Doyle is a U.S. attorney Sathima Chintanaseri is a and a senior partner. He partner at Seri Manop and represents multinational Doyle. Her expertise includes companies, private equity and corporate and commercial law, funds. estate planning and succession.

Pakdeenad Supradit N Ayudhya is an associate specializing in commercial law and litigation. She advises on business formation.

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GOVERNMENT ENGAGEMENT

Senior Bureau Official Harry Kamian from the US Bureau of Energy Resources Meets Long-Standing American Investors in Thailand

Bureau of Energy Resources Senior Bureau Official Harry Kamian met with executives from the energy sector to advance United StatesThailand energy policy dialogue, at a luncheon hosted by the American Chamber of Commerce (AMCHAM) in Thailand. The attendees included business leaders from energy and infrastructure industries such as Chevron, Seagate, Black & Veatch, Honeywell, General Electric, along with US Embassy officials and the AMCHAM President and Executive Director. The meeting provided an opportunity business community to interact with the of Energy Resources Senior Bureau Harry Kamian and hear directly about 18

to the Bureau Official the US

Administration’s priorities and strategic goals for climate and energy cooperation in the IndoPacific region. The meeting also highlighted the important role of the Thai and US private sectors in the region’s energy future and in achieving global climate goals. AMCHAM member companies continue to invest in energy infrastructure development and technology transfer for sustainable development in the Kingdom. The business leaders appreciated the administration’s support towards clean energy transitions, talked about their projects, and reiterated their commitment towards driving growth in Thailand’s renewable energy sector.

Virtual Membership Meeting with Deputy Director Pichit Virankabutra, Creative Economy Agency

On March 9, 2022, the American Chamber of Commerce in Thailand’s (AMCHAM Thailand) Creative Economy Council hosted a virtual membership meeting between Mr. Pichit Virankabutra, the Deputy Director of the Creative Economy Agency (CEA), and AMCHAM members. The meeting was led by the three Creative Economy Council leaders: Michael Bäk, Head of Public Policy, Meta; Sarut Wittayarungruangsri, Head of Public Policy, Netflix; and Nattabhorn Juengsanguansit, Director and Thailand Country Representative, Asia Group Advisors. The meeting started with the introduction by Michael, where he expressed appreciation for the opportunity to learn about the CEA’s policies and priorities, its notable annual projects and activities, as well as collaboration opportunities with the private sector. During the meeting, the Deputy Director provided in-depth information on CEA’s visions and missions, the economic contribution of the creative economy sector to the country’s overall economy, and the four main creative economy categories, including creative originals, creative content and media, creative services, and creative goods and products. In addition, the Deputy Director

presented further detail on projects and activities to achieve its four missions to promote creative economy, creative people, creative businesses and industries, and creative districts, which feature its well-known Bangkok Design Week. During the Question and Answer session, AMCHAM members had an opportunity to receive information on the agency’s work relating to sustainability, cultural tourism, knowledge transfer programs, and the agency’s approach to the creative economy innovations such as the Metaverse. The CEA’s Deputy Director welcomed the members’ inquiries and looked forward to continuing collaborations with foreign businesses in Thailand. Finally, Nattabhorn delivered AMCHAM’s appreciation for the Deputy Director’s time to meet with AMCHAM’s members and to provide comprehensive and insightful information on the CEA’s missions and activities. This is beneficial to the private sector as it provides understanding of the direction for the creative economy development and opportunities for the private sector to offer assistance and collaborations to achieve the shared goal of enhancing the country’s competitiveness in the creative economy sector. 19

AMCHAM FOUNDATION

Meet Oranuch

Oranuch Songsirichai is a recipient of the AMCHAM Thailand Foundation’s Student Scholarship program, which provides scholarships for exceptional underserved students. Since 1976, AMCHAM continues to invest in the future of Thailand by providing scholarships and helping these students build a better career. I was a student of the AMCHAM Thailand Foundation (ATF) Scholarship program from 20122015. The scholarship helped me a lot with tuition fees, meals, dormitory costs, and it also lightened the financial burden on my parents. This motivated me to concentrate on my studies. It gave me the opportunity to do public activities and to see the value of skills training and economic trades. The ATF Career Camp allowed me to meet new people, including being interviewed by AMCHAM members in-person. It provided me with valuable experiences to prepare for real job interviews.

“ The ATF Scholarship gave me my opportunity and bachelor’s degree to pursue my dream of becoming a flight attendant.”

Oranuch Songsirichai, 2012-2015 AMCHAM Foundation Scholarship Recipient 20

During my internship in my fifth year at Janjawa Wittayakom School, Chiang Rai, I started gathering information on how to apply for a job as a cabin crew for career. I enrolled in a cabin crew preparation course in Chiang Mai. Every Friday evening, I rode a motorcycle from school back to the Korean dormitory near the university and then took a bus at night to Chiang Mai to study for my Saturday’s preparation course.. On Sunday, I would commute an hour on my motorcycle to my internship school to continue learning again. This continued for nearly two months until the end of the course. I was also preparing for a TOEIC certificate exam in Bangkok. The certificate gave me confidence, a requirement for many jobs. When I saw openings for cabin crew recruitment, I continued applying to fulfil my goal. Although none of my interviews resulted in a job, I gained valuable lessons and experiences. I had not struggled enough to give up yet.

I took a different approach to enhance myself by applying for a job in the service industry, working as a hotel receptionist. It gave me experience in customer relations, handling translation services for international guests, and customer services. My next job was with a major airline as a Passenger Service Agent. This job gave me a lot of experience in terms of work, attitude, vigilance, communicating with passengers in resolving problems in emergency cases such as sick children, unwell passengers, and some with severe symptoms. According to the airline rule, any of these passenger examples would be denied for boarding due to health and safety concerns, leading to an emergency onboard and putting all other passengers at risk. As a matter of fact, inflight diversion is also a great risk to the sick passenger. In handling these complicated issues while minimizing flight delays was a

challenging task to learn; being proactive was essential. After my work experience in Lufthansa Services Thailand handling for Etihad Airways at the Suvarnabhumi International Airport, and in part gaining knowledge on airline field operation, I applied for a Thai Lion Air cabin crew position and cleared all interview rounds, finally getting my dream job. I have always believed that if we have clear ambitions and no matter how many obstacles we face, just do not give up. Failure is always a step closer to success, keep faith and be positive, despite the hard work you have contributed, someday we will be able to follow our dreams. Finally, I would like to say thank you to the ATF scholarship for supporting me during my four years of study; it really gave me my opportunity and bachelor’s degree to pursue my dream of becoming a flight attendant.

IN THE SPOTLIGHT Deborah Seifert is the Country Manager of Pfizer and has played a key role in bringing vaccines to Thailand. She also serves on the AMCHAM Board of Governors and is the Board Liason for the AMCHAM CSR Committee.

How did you first get involved in AMCHAM? I became involved with AMCHAM soon after arriving in Thailand last year through Pfizer’s corporate membership. Even though in-person events were very limited, I appreciated AMCHAM’s commitment to virtual engagement and was able to participate in several events. I was inspired to run for the board as I felt that Pfizer as a USbased company, was playing an important role in the pandemic recovery and that I could work well with other business leaders to collectively support a strong recovery effort in Thailand. How has Covid-19 changed global healthcare? Covid-19 has shone a spotlight like no other on 22

the importance of public-private partnership to manage the most significant public health crisis in our lifetime, and to spur investment in innovation as healthcare and digital ecosystems are converging. Looking ahead, one area that presents an opportunity for greater collaboration is increased investment in infectious disease control and preparedness. • •

Spending on health care should be seen as an investment. Building more resilient health systems will require prioritization of investment in areas that can provide substantial value to vulnerable populations, such as prevention and vaccination.

Another opportunity area for increased collaboration is digital health. As a result of the pandemic, the whole healthcare system has been forced to seek new ways of operating and most people have gotten used to more digital forms of communication. This shift presents an opportunity to consolidate the behaviors learned through the pandemic to establish new ways to deliver healthcare that drive a new efficient way to deliver better outcomes and improved patient experiences. How do you foster diversity and inclusion at work? At Pfizer, one of our core values is Equity and it brings me great pride to be part of an organization that values the idea that every colleague deserves

to be seen, heard, and cared for. Personally, in any meeting I try to ensure that I draw out all participant’s point of view. As an outsider, I want to ensure that I am gaining the full benefit of the expertise that exists in my team. I also have the honor of serving as the Emerging Markets Asia regional lead for Pfizer’s Diversity Equity & Inclusion Council. In this capacity I get to focus on providing our leaders support across the region to ensure that our policies, talent engagement strategies, and leadership conversations foster a diverse, equitable, and inclusive environment. Your favorite AMCHAM event I am particularly inspired by the AMCHAM CSR Awards; it is amazing to see the collective impact that companies operating in Thailand are making in the community.

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MEMBER NEWS

Organon Prioritizes Women’s Health on IWD By Organon

On March 8, Organon shed light on the growing health disparities women face that have been exacerbated by the Covid-19 pandemic. Since its inception, International Women’s Day has focused on accelerating gender parity. This year’s theme, #BreakTheBias, invites everyone to act for gender equality and to reinforce that health should be a critical part of this. As the only women’s health company of its kind, Organon believes healthy women are the backbone of a thriving, stable, and resilient societywhen she is healthy, she prospers and so does her community, and her society, for generations to come. Yet, a recent study found that 44% of older women said they waited until a health symptom became urgent before scheduling an appointment – and that number jumps to 62% for women aged 20-34. Organon gave nearly 9,500 employees around the world, including 135 employees in Organon

Thailand, the day so they could attend to their own health needs and the health of the women in their lives. The goal was to bring forth the need for every woman to prioritize her health. While not every organization or company is able to do this, they can make meaningful change that puts her first. Visit for more information.

ERM Recognized in New ESG Strategies Report By ERM-Siam

ERM has been highly rated for their commitment to achieve net zero emissions by 2025 in the recent Environmental Analyst report Consultancies in the race to net zero. The report assesses where the top-flight environmental and sustainability advisers and professional services firms are on their climate commitment and leadership journeys, as well as the complex challenges and motivations for consultancies to move further and faster on net zero as they encourage their client organizations to do the same. ERM’s expedited climate action programs were 24

highly rated in the report, which found that 21 of the Global 25’ E&S consulting leaders have now pledged to achieve a science-based net zero target or equivalent. ERM’s Global Sustainability Program Director Linden Edgell commented “Now in the decade of action, the ambition to reach 1.5°C is critical and net zero targets backed by clear and integrated transition plans are becoming a minimum requirement. As a sustainability consultancy and trusted ESG advisors, it is critical that we remain aggressive in our own commitments and transparent in our progress while we continue to support the world’s leading organizations in doing the same.”

EVENTS Thailand’s BCG strategy and the National Determined Contributions – February 18 Speakers: Dr. Wijarn Simachaya, President of Thai Environment Institute, the Secretary-General of Thailand Business Council for Sustainable Development (TBCSD), a Chairman of PPP Plastics. Organizers: Sustainability Committee Event Highlights The session introduced Thailand’s BioCircular-Green (BCG) Economy model, especially the circular economy – the impact to business and how business can help Thailand to achieve its goal. “We are facing the resource scarcity, over consumption, and pollution – Circular economy will maximize resource efficiency, reduce pollution, minimize global climate change impact and at the same time, create new economy opportunity.” - Dr. Wijarn Simachaya

Thailand Tourism Forum 2022 – March 1 Speakers: Bill Barnett, Managing Director, C9 Hotelworks; Clarence Tan, Senior Vice President Development, Hilton Hotels and Resorts; Charles Blocker, CEO, IC Partners Limited; Jesper Palmqvist, Area Director – Asia Pacific, STR; Chakkrit Chakrabandhu Na Ayudhya, EVP, JLL Hotels & Hospitality Group; Pitinut Pupatwibul Robbins, Senior Vice President, JLL Hotels & Hospitality Group; Ingo Schweder, Founder & CEO,GOCO Hospitality; Nikhom Jensiriratanakorn, DirectorThailand, Horwath HTL; Bodintorn Juangroongruangkit, CEO, Real Asset Development; Natapree Pichaironarongsongkram, Managing Director, Supatra Real Estate ‘Hybrid Spaces – Jumping Out of the Box’; Catherine Monthienvichienchai, Brand Strategy Leader, QUO; Akalarp Yimwilai, CEO (Thailand) and Co-Founder, Zipmex; Viona Zhang, Assistant Vice President, C9 Hotelworks; Nattawut Chawinkul, Head of Sustainability and Partnership, Find Folk; and Wimintra Raj, Editor in Chief, Hotel Intel Co-Host: Nantanittaya Sesaweech, Assistant Managing Director, Horizon Village & Resort Event Highlights 500 participants from Thai tourism and hospitality sector gathered at Conrad Hotel Bangkok for the Thailand Tourism Forum 2022, under the theme #ThaiTourismUnited with the aim to establish a new strategic direction for Thai tourism. The forum kicked off with the Thailand Tourism Leadership Summit which saw tourism leaders jointly sign the Thailand Tourism Pledge. 26

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EVENTS Member Luncheon: Thai Property Market Update 2022 - February 24 Speakers: Mark Nosworthy, Chief Executive Officer of Kaidee Property; Barnaby Swainson, Head of Investment and Land of CBRE Thailand; and Shun Wong, Senior Vice President - Strategy & Business Development at Central Pattana Public Company Limited (CPN). Moderator: Tysen Kamin, Deputy Managing Director of Colliers Thailand and AMCHAM’s Business Economics Committee Co-Chair. Organizers: Business Economics Committee Event Highlights Industry experts had an interactive panel discussion and provided insights to 60 AMCHAM members on the present market dynamics and future of real estate and property development in Thailand. Shun discussed trends shaping the future of workplaces and the retail sector in Thailand. He spoke about the growing demand for community and co-working spaces and how we can fill gaps with omnichannel retailing. Mark did a deep dive into the current state of the Thai residential real estate market as well as trends and an outlook for 2022. Barnaby provided insights on the impact of Covid on the hotel sector, land and investment in Thailand, and market dynamics that will drive the future of international investors coming back to Thailand. At the start of the discussion, AMCHAM President Jeff Nygaard of Seagate presented on chamber business and welcomed new members.

EVENTS The Governors’ Table @ The Sukhothai Hotel- March 11 Hosted by AMCHAM Board Governors: Tibor Pandi of Citibank, Rachel Davidson of Hilton and DoubleTree Sukhumvit, Deborah Seifert of Pfizer Thailand, and Kaveepan Eiamsakulrat of K.E. Group. Event Highlights AMCHAM’s first in-person Governors’ Table of the year was warmly welcomed. Hosted by Board Governors, The Governors’ Tables offer a great opportunity to connect with leading executives over leisurely dinners. AMCHAM’s Members enjoyed face-to-face networking with the premiere business community at The Sukhothai Bangkok, Thailand.

NEW MEMBERS

Welcome New Members February 2022 CORPORATE MEMBERS Progression Equipment provide the world’s best equipment to adventurers pushing their limits and fueling progression. Designate: Josh Morris, Founder

FHI 360 is an international non-profit working to improve the health and well-being of people in the United States and around the world. They partner with the private sector, governments, and civil society to bring about positive social change and to provide lifesaving health care, quality education, and opportunities for meaningful economic participation. Designate: Jacqueline McPherson, Regional Director

Pegleg puts client interests first, not just in words but in deeds. They provide tech-based, effective, and affordable solutions in areas where they can deliver value, quality, and affordability to their clients. Designate: David Lawrence, Managing Partner

Smart Build Tech was founded in Thailand but supplies the latest in building technology to Asia Pacific. Their products focus on energy conservation, indoor air quality and security, and they provide responsible consulting services to building owners, operators, and facility management companies. Designate: Jon Pickford, Managing Director

Visit the AMCHAM Member Directory https://connect.amchamthailand.com/list/ to Learn More About AMCHAM Member Companies.

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AFFINITY PROGRAM

18 •

American Chamber Of Commerce In Thailand

AD AAM 2013 Size: 190 x 260 MM

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