Issuu

Sept 2026

T-AB

THAI-AMERICAN BUSINESS

INSIDE THIS ISSUE: HOW DIGITAL ECOSYSTEMS AND PREVENTIVE WELLNESS ARE SHAPING THE FUTURE SHAPING HEALTHIER FUTURES: FROM EARLY NUTRITION TO HEALTHY LONGEVITY WHAT THE NEW NATIONAL POLICY MEANS FOR HEALTHCARE INVESTORS AMCHAM CHARITEE GOLF TOURNAMENT 2026

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Thai-American Business ISSN-T-A 0125-0191 Sept 2026

Contents LETTER 06

Executive Director

FEATURES 08

Redefining Healthcare: How Digital Ecosystems and Preventive Wellness Are Shaping the Future

Capable of More: The Hidden Capacity Gap Inside Thailand’s Companies

IN THE SPOTLIGHT 36

FOUNDATION 38

Hat Yai Celebrates Freedom 250 with a Kickoff Fair to Remember

IN FOCUS 18

Shaping Healthier Futures: From Early Nutrition to Healthy Longevity

LEGAL UPDATES 22

Thailand’s Medical Investment Hub: What the New National Policy Means for Healthcare Investors

Beyond the Thai Partner: Control and Accountability in Thai Telecommunications Licensing

SPECIAL UPDATE 28

AMCHAM ChariTee Golf Tournament Raises Over 550,000 Baht Toward Scholarships for 140 Thai Students

EVENTS 42

Topgolf Foreign Chambers Open 2026

Redefining Compliance: Turning Workplace Inclusion into Business Advantage

Creating with Confidence: Towards a Trusted IP for Creative Industries

Beyond the Basics – Redefining Benefits as a Winning Strategy

The Governors’ Table @ The Ritz-Carlton, Bangkok

INNOVATION 48

A Letter from the Government Affairs Desk

GOVERNMENT ENGAGEMENTS

Student Story - Sootthida (Anna) Lau

AMCHAM HIGHLIGHT

SPECIAL FEATURE 16

Laura Chevrier - General Manager for Thailand, Myanmar and Cambodia of Abbott

Bristol Myers Squibb to Build the Most Powerful AI Factory in Life Sciences with NVIDIA

MEMBER NEWS

Friends of Bangkok

Roundtable Discussion: Powering Growth with a Trusted Digital Ecosystem

JLL Thailand Celebrates AIA Connect Opening, Expands Partnership

Roundtable Discussion: Partnering for Resilient Food-Agri Supply Chains

Concentrix Wins the 2026 Globee Awards for Delivering Agentic AI Results

Digital Governance Council: August 2026

LINE Thailand Brings LIFELINE to Hug HeartYai, Promoting Digital Tools for Disaster Preparedness

Department of Intellectual Property’s Consultation Meeting on Intellectual Property Protection and Enforcement

NEW MEMBERS

Government Affairs Council: Licensing and Service Facilitation Act Updates

DISCOUNT

Welcome New Members

AMCHAM Affinity Program

The brightest minds help illuminate the way forward Pushing new ideas to solve energy challenges is progress at work. At Chevron, we’re applying technology in innovative ways to explore what’s possible. This includes developing cutting-edge software to analyze data more effectively, as well as partnering with universities and research institutions to help pioneer new solutions. All to fuel innovation that helps us meet the world's energy demands now and for many years to come. Learn more at Chevron.com CHEVRON, the CHEVRON Hallmark and THE HUMAN ENERGY COMPANY are registered trademarks of Chevron Intellectual Property L.L.C. © 2026 Chevron U.S.A. Inc.

Letter from the Executive Director Dear Members, AMCHAM BOARD OF GOVERNORS 2026 PRESIDENT Chatit Huayhongtong, Chevron

VICE PRESIDENTS Sondra Sutton Phung, Ford Motor Company Raymond Deidrick, Ingredion Incorporated Norachet Saetang, Seagate Technology Philip Bernard, Western Digital

TREASURER Winnie Wong, Mastercard

SECRETARY Ririnda Tangtatswas, Betagro Group

GOVERNORS Wiyada Srinaganand, 3M Thailand

AMCHAM’s greatest strength has always been the dedication of our volunteer leaders. Our Board Governors, Council and Committee Chairs, and countless member volunteers generously contribute their time, expertise, and passion to help strengthen our business community and advance Thailand’s competitiveness. This spirit of leadership is reflected throughout this month’s issue. As we explore the future of healthcare, healthy longevity, and innovation, we see how collaboration among business leaders, healthcare professionals, policymakers, and educators can drive meaningful progress. These same principles guide AMCHAM’s work every day through our Councils and Committees, where members come together to share insights, develop recommendations, and create opportunities for positive impact.

Narumon Chivangkur, Citibank Sasathorn Phaspinyo, FedEx Thailand Anothai Wettayakorn, IBM Thailand Charles Blocker, IC Partners Asama (Prae) Dumrongmongcolgul, Meta Idara Huang, Mondelez International Mark Kuo, Pfizer Thailand

EXECUTIVE DIRECTOR Heidi Gallant T-AB Magazine is a publication by The American Chamber of Commerce in Thailand. 101 True Digital Park, Griffin Building, Level 12A, Unit No.12A-06, Sukhumvit Road, Bangchak, Phra Khanong, Bangkok 10260 Tel: +66 (0)2 119 3350 www.amchamthailand.com Editorial Advisory Board: Heidi Gallant

Volunteer leaders play a vital role in shaping AMCHAM’s advocacy priorities, educational programs, networking opportunities, and community initiatives. Their contributions help ensure that our Chamber remains a trusted voice and an effective platform for engagement between the private sector and government. As we look ahead to 2027, I encourage members who are passionate about making a difference to consider a leadership role within AMCHAM. The annual call for Council and Committee leaders will open on October 14, providing an opportunity for engaged members to help guide the Chamber’s activities and priorities in the year ahead. I hope to see you soon!

Editors: Varsha Wadhwani Phenphitchaya Chapanon 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 Gallant Executive Director

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FEATURE

Redefining Healthcare: How Digital Ecosystems and Preventive Wellness Are Shaping the Future By Supakorn Phawanna, Phyathai Hospital Group and Paolo Hospital Group

For decades, the global healthcare industry was inherently reactive, built upon a model of treating symptoms only as they appeared. Hospitals were historically viewed as places people visited only when they were sick, injured, or requiring urgent medical intervention. Today, however, we are witnessing a profound paradigm shift across the medical landscape. Consumers no longer want to wait for illness to strike; they want to actively manage their health, stay ahead of potential risks, and optimize their overall well-being. This is not merely a fleeting consumer trend, but a significant macroeconomic shift where the future of medicine unequivocally lies in proactive, preventive healthcare. To achieve this new global standard, the industry is increasingly leveraging digital innovation to make health management effortless, highly accessible, and deeply personalized for every individual. 8

Understanding the Multi-Generational Health Mindset

To build a meaningful and sustainable healthcare ecosystem, industry leaders must first understand the distinct priorities and lifestyles of the diverse generations we serve. Health is no longer a onesize-fits-all concept, and consumer expectations

are rapidly evolving. Recent 2026 demographic studies reveal highly specific generational behaviors that dictate how care should be delivered: Gen Y: The Core Driver of Digital Health: Representing the largest online consumer base, Gen Y (aged 35–45) operates as the "Sandwich Generation". They carry a unique and heavy responsibility by simultaneously managing the health of their young children and their aging parents, all while navigating the peak years of their professional careers. Because their time is highly constrained, convenience is not just a luxury; it is a necessity. They rely heavily on digital health solutions to streamline appointments, buy health packages, and consult specialists without disrupting their daily routines. As the primary engine driving online healthcare growth, recent data confirms this demographic is currently the highest spender on health, relying almost entirely on digital access to manage their family’s medical needs. Gen Z: Mental Health & Aesthetic Wellness: For Gen Z, the definition of health extends far beyond the absence of physical disease. They are a proactive generation driving critical awareness around mental health, seeking accessible, stigma-free pathways to address holistic wellness early in life. There is exceptionally high engagement from this group regarding workplace stress management, emotional resilience, dermatology, and aesthetic care. They expect healthcare to be seamlessly integrated into their digital-first lifestyle.

Gen X: Proactive Management of Chronic Conditions: Gen X consumers are acutely focused on longevity, discipline, and preventing the onset or progression of chronic illnesses such as diabetes or cardiovascular diseases. Because key physiological metrics can fluctuate rapidly in this age group, they place immense value on regular monitoring and data-driven insights. They choose tailored packages that allow for multiple comprehensive health check-ups throughout the year to maintain their health and extend their active health span. Democratizing Ecosystems

Access

Through

Digital

A fundamental philosophy guiding this industrywide transformation is simple: healthcare should fit seamlessly into a patient's lifestyle, not the other way around. Patients should not always need to endure the friction of traveling to a physical hospital for routine care, basic consultations, or health package purchases.

By expanding integrated online health platforms and robust digital channels, we are effectively breaking down traditional physical and geographical barriers. Digital channels currently attract approximately 30% new customers, significantly outpacing traditional walk-in channels. Through an enhanced digital health ecosystem, the industry aims to push new customer acquisition via online channels to 40–50%. Whether offering accessible entry-level screening options or comprehensive personalized health packages, online platforms allow every individual to take control of their health anytime, 9

FEATURE anywhere, regardless of budget or location. This level of democratization ensures that high-quality care is always within reach. Thailand as a Premier Medical Hub for the Global Community

and highly accessible preventive care packages, the industry ensures that managing health in a new country is as effortless as it is at home. This strategic focus on digital accessibility empowers expats, international executives, and their families to proactively manage their well-being while residing in Thailand, transforming the country into a truly borderless wellness destination. Looking Ahead: Longevity

Vision

for

Accessible

Despite facing global economic headwinds, rising fuel costs, and ongoing market volatility, digital health performance continues to grow at exceptional rates. Consumers universally recognize that investing in health is non-negotiable, prioritizing wellness above all else. This growth trajectory extends far beyond our domestic borders. Thailand continues to be recognized globally as a "Safe Zone," a trusted, globally accredited hub for high-quality, reliable medical care. Recently, Thailand welcomed approximately three million foreign patients, a surge driven heavily by the escalating global demand for wellness, specialized treatments, and preventive healthcare. Across established networks, the industry is seeing significant momentum among the expatriate community and long-term international residents. This influx is propelled by strong demand from regional neighbors alongside steady increases from Europe and the United States. For expats working or building their lives in Thailand, navigating a foreign healthcare system can often be daunting due to language barriers, unfamiliar administrative processes, and insurance complexities. Much like how digital ecosystems address the unique time constraints of Gen Y or the monitoring needs of Gen X, these same digital platforms are proving to be a game-changer for international residents. To bridge this critical gap, leading healthcare providers are tailoring their digital ecosystems specifically to the needs of the expat market. By offering seamless digital health tools, multilingual platforms, transparent pricing, 10

As we target sustainable year-on-year growth, the ultimate mission remains inherently humancentric. The overarching goal of the modern healthcare sector is to build a seamless digitalto-physical ecosystem where every individual, regardless of generation, nationality, or background, has the integrated tools and support they need to live a longer, healthier, and more empowered life.

Supakorn Phawanna is the Asia Award-winning Executive Marketing Director of Phyathai Hospital Group and Paolo Hospital Group with over 30 years of empowering health, driving sustainable growth, and transforming healthcare and top industries through innovative marketing strategy and visionary leadership.

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FEATURE

Capable of More: The Hidden Capacity Gap Inside Thailand’s Companies By Tareef Jafferi, Happily.ai

Companies in Thailand face no shortage of visible constraints. Markets shift, costs rise, regulations change, technology advances, and talent remains difficult to find. Yet one important constraint is easier to miss: how much of the capability already inside an organization can actually be put to work. Every organization has potential capacity and usable capacity. Leaders set direction. Managers turn direction into daily behavior. HR builds systems that help people and teams become stronger. Employees execute. A hidden capacity gap appears when one of those links cannot fully perform its role. Talent exists, but the organization converts less of it into results. We examined 24 months of data from 6,069 employees across 117 organizations operating in Thailand, spanning manufacturing, services, and other industries. We tracked daily happiness, weekly stress, and the quarterly WHO-5 WellBeing Index, then divided the workforce into HR, Leaders, Managers, and Employees. 12

Figure 1 Share of responses in each metric’s at-risk category, most recent 90 days. Leader stress (26.0%) is nearly 2.4 times the Manager rate (11.0%). Where Capacity Gets Lost The company-wide WHO-5 mean improved by about six percent over the study period. At board level, that would sound encouraging. Yet the average concealed very different conditions

in the roles responsible for setting direction, strengthening teams, and doing the work. The first break can occur at the manager level. In a separate analysis of 424 managers across 24 companies, 46% of the variation in team behavioral engagement sat between managers within the same company. Company differences accounted for 54%. Two teams in the same organization could therefore have substantially different experiences. A second analysis, covering 782 leaders across 72 organizations, found reliable relationships between direct managers and their teams through the third management layer. Only the top leader reliably reached two levels down. When managers stopped giving recognition, team activity fell to 67% of its prior level by the second month, compared with 92% among continuing managers. When managers stopped replying to feedback, their teams wrote about 15% less feedback over six months. Together, these observational findings show how an inconsistent manager can become a practical ceiling on the team below. HR’s Strategic Capacity is Being Consumed

or AI work is the cause. It does suggest role sprawl: the function meant to build capability is struggling to protect capacity for that work. Leaders and Constraints

Employees

Carry

Different

Leaders reported the highest happiness in every month and, at the same time, the highest stress. In the most recent 90 days, 26% of Leader checkins were “very stressed,” nearly 2.4 times the Manager rate. Leaders can feel positive about the work while carrying sustained pressure where major decisions must be made. Employees made up 82% of the workforce studied. Their happiness and WHO-5 scores remained broadly stable, but their share reporting “very stressed” rose from 10.8% to 18.7% over 20 months, an increase of 73%. Managers looked healthiest in the current snapshot, yet their ”very stressed” share also rose by 3.3 percentage points. The execution layer is carrying more pressure even while the broad averages remain reassuring. Different Constraints Responses

Require

Different

The capacity chain also fails when every role is treated as if it has the same constraint. Alongside the weekly stress check-in, respondents were asked what was causing stress in their work. We coded 2,451 free-text responses in English and Thai. The differences by role were sharp. HR reported the lowest average happiness of any group in all 24 months. In the most recent 90 days, 25.8% of HR respondents scored below 50 on the WHO-5, a commonly used screening threshold for low well-being. That was roughly twice the rate among Managers and Employees. HR was not the most stressed group. The sharper signal was what consumed its attention. Workload appeared in 33% of responses and deadlines in 28%, both the highest rates of any group. Individual answers described routine work crowding out strategic work, responsibility for two teams, unfamiliar assignments, and building or onboarding teams. This does not prove that transformation

Figure 2 Top stress themes by role, based on 2,451 coded free-text responses over 24 months. Bars show the share of each group’s responses naming the theme; one response can match multiple themes. 13

FEATURE HR talked primarily about workload and deadlines. Leaders talked about life as much as work. Managers talked about targets and customers. Employees showed the widest mix of concerns. A single well-being program would therefore miss the operating problem in several groups. For Leaders, personal, family, and health concerns appeared in 25% of responses, the highest of any group, while financial and cash-flow pressure appeared in 14%. Support aimed only at workplace scheduling would overlook much of what senior leaders were carrying. For Managers, sales targets appeared in 12% of responses and client demands in 13%, both the highest rates observed, alongside teamperformance challenges. Their constraint was largely outward-facing, even though their behavior remained closely connected to the team behind them. Employee responses were the most diverse. No single theme exceeded 16%. Personal circumstances, customer demands, workload, deadlines, financial pressure, and skill gaps all appeared at similar levels. The largest group in the workforce therefore requires local diagnosis rather than one centrally chosen explanation.

priority or cultural expectation will pass through every management layer without reinforcement. Second, protect HR’s capacity to build stronger teams. Ask what is displacing strategic people work and whether transformation initiatives have been resourced or simply added to the existing load. Base the answer on the organization’s own workload evidence, not assumptions about HR. Third, treat role-specific pressure as an operating signal. Leader pressure can constrain decision capacity. Manager inconsistency can limit the team below. HR overload can crowd out capability building. Rising Employee stress can reduce the capacity available for execution. The appropriate response depends on where the chain is breaking. These observational studies do not prove that workforce strain causes underperformance. Together, however, they make the hidden capacity gap visible. A company may have the talent, strategy, and opportunity to do more while losing capacity where direction becomes management behavior, where HR should strengthen the system, and where employees execute. The average is a reporting number. The chain underneath determines how much organizational capability can actually be used.

Capacity is a Chain of Capabilities

Three practical implications follow organizations operating in Thailand.

for

First, strengthen the manager link. When team engagement varies almost as much between managers inside one company as it does between companies, consistency becomes part of operating capacity. Leaders should not assume that a 14

Tareef Jafferi is Founder and CEO of Happily.ai, a people analytics platform. His research at MIT and experience at Google shaped his focus on measuring workplace culture and helping organizations convert people capability into performance.

SPECIAL FEATURE

Hat Yai Celebrates Freedom 250 with a Kickoff Fair to Remember By U.S. Embassy Bangkok The American Fair has come to Thailand! The U.S. Embassy just wrapped up the first-ever American Fair in Hat Yai, bringing the sights, sounds, and spirit of Americana to Prince of Songkla University's Hat Yai Campus — all in celebration of 250 years of American independence. U.S. Ambassador Sean O'Neill kicked things off, inviting everyone to celebrate America’s 250th year with a great American tradition – the state fair – brought to life in Hat Yai. Fairgoers dove into classic American fun with trivia, spelling bees, pie-eating contests, art, and more, all set to an electrifying performance by Phuket-based rocker, Queen on Street. The Embassy’s American Citizen Services Unit, EducationUSA and the Drug Enforcement Administration hosted booths, and the U.S. Agricultural Service and our American agriculture partners served up a taste of America's finest food. Thank you to our many friends and partners, who worked with us to bring the fair to life, this would not have been possible without you! Up next: Korat (Oct 2–4), Chiang Mai (Oct 16–18), and Bangkok (Oct 23–25). For more details, please visit https://th.usembassy.gov/freedom-250/.

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IN FOCUS

Shaping Healthier Futures: From Early Nutrition to Healthy Longevity Dr. Panote Prapansilp, MD, DPhil (Oxon), is Regional Medical Director for ASEAN at Mead Johnson Nutrition.

“The highest-yielding infrastructure Thailand can build sits in the first two years of life.” In these two years, nutrition does more than help a child grow. It helps build the brain, the immune system, the metabolism. The core science is settled — early undernutrition impairs growth and cognition in ways that are hard to reverse. Newer work on the infant gut microbiome hints that the influence reaches further still, into immunity and perhaps neurodevelopment, though that science is still maturing. The central point is simple. Small gaps at the start widen into large ones later — in health, in learning, in earning power. It is compound interest, applied to human beings.

Thailand is aging faster than almost any of its neighboring countries, and its economy increasingly runs on knowledge rather than muscle. Dr. Panote Prapansilp argues that the competitiveness of the country's future workforce is being decided far earlier than most people realize — in the first 1,000 days of life. How does investing in early-life health support Thailand's goal of healthier lives across generations? Ask me where a child's future is decided, and I will not point to a school or a first job. I will point to the first 1,000 days — from conception to the second birthday. It is the most important window we have. It is also the most unforgiving. You cannot re-run it: miss it, and no amount of later investment fully compensates. 18

For Thailand, this is not a sentiment. It is economics. Our working-age population is projected to shrink from around 43 million in 2020 to 36 million by 2040, even as we become a “super-aged” society. We are growing old before we have grown rich. A country with fewer workers — each of whom must carry more — cannot afford for any of them to start life short-changed, in body or in mind. Seen that way, the highest-yielding infrastructure Thailand can build sits in the first two years of life. Globally, every dollar put into early nutrition returns around sixteen, and preventing childhood

stunting is linked to roughly 30% higher lifetime income. I struggle to name another investment on the table today that competes with that. What opportunities do you see for advancing healthy longevity and preventive healthcare in Thailand over the next decade?

We like to imagine that healthy longevity begins in middle age — the first cholesterol test, the first blood-pressure warning. It does not. The path to those diseases is often laid down in early childhood. This is why Thailand's “double burden” of malnutrition worries me. On one hand, undernutrition persists: about 13% of underfives are stunted nationally, and closer to 20% in parts of the South. On the other, childhood overweight and obesity have more than doubled in a generation — from roughly 6% to 13% among six-to-fourteen-year-olds — putting us among the most affected countries in ASEAN. Here is the uncomfortable part. It can be the same child. Stunted early, overweight later, a pattern we see most among the urban poor. A child undernourished in infancy and then raised on cheap, energy-dense food is quietly being enrolled in a future of diabetes and heart disease — the very conditions that will weigh on our health system as the country ages. The most powerful preventive medicine we have is not a screening program for adults. It is good nutrition, early.

“The most powerful preventive medicine we have is not a screening program for adults. It is good nutrition, early.”

How can the healthcare sector better support families in making informed health decisions? In my experience, the problem is rarely that parents do not care. It is that no one gave them clear, trustworthy guidance when it mattered. Consider one number: only about 29% of Thai infants are exclusively breastfed for the first six months — even though breastfeeding is the foundation of early nutrition. Or consider that a majority of Thai children fall short on key micronutrients — iron, zinc, calcium, vitamins — with anaemia found in more than half of infants in some studies. Many of these children are not hungry. Their families simply do not know what “good” looks like. That is the gap the healthcare sector has to close. Give parents, and the professionals who advise them, practical and science-based answers rather than marketing noise. Meet them where the decisions actually happen: in the clinic, at the kitchen table, and — more and more — on a phone screen.

“Give parents, and the professionals who advise them, practical and science-based answers rather than marketing noise.” How can digital health strengthen nutrition support and education for families and healthcare professionals in Thailand?

Digital health is the most powerful tool we have ever had for reaching families. It is also one of the most double-edged. Used well, it carries credible guidance into every province and helps busy 19

IN FOCUS clinicians stay current. Used badly, it floods those same parents with misinformation, often from influencers whose real aim is to sell something. Here is the hard part: to an exhausted new parent at two in the morning, the confident voice online sounds exactly like the qualified one. Thailand's task is to tilt that balance — to make trustworthy sources easier to find and easier to act on, and to invest in digital content that is scientifically grounded and professionally checked. Good information should not have to shout over the noise. We should help it win.

— the infant slipping toward iron deficiency, the toddler whose growth is faltering — early enough to change the story. Done right, personalization makes good nutrition more precise and more fair at the same time.

How could personalized nutrition support better health outcomes for children in Thailand? No two children are the same. They differ in how they grow, what they tolerate, their medical history, and what their families can realistically afford. Yet nutrition advice is still too often a single, generic script. Personalized nutrition means fitting the guidance to the actual child — and digital tools and AI-supported consultation are beginning to make that practical at scale. One caution: this is not about premium products for families who can pay. Its real power is the opposite. It helps us direct scarce attention to the children who need it most

“Personalized nutrition means fitting the guidance to the actual child — and digital tools and AI-supported consultation are beginning to make that practical at scale.”

LEGAL UPDATE

Thailand’s Medical Investment Hub: What the New National Policy Means for Healthcare Investors By Thanyaluck Thongrompo and Bhimukh Tiamsawet, Kudun & Partners

Healthcare has just been written into Thailand’s national investment blueprint as one of five priority strategies, and the incentives to back it are already live. Here is what that means for anyone building, manufacturing, or operating in Thai healthcare.

Available Investment Promoted Activities

The Policy Shift On July 31, 2026, Thailand’s Subcommittee on the Development of New National Investments, chaired by Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas, approved a fivestrategy framework to restructure the Thai economy. Medical is now a national growth engine, not a side benefit: the Government envisages a full medical ecosystem covering Research & Development, pharmaceutical manufacturing, medical devices, and high-value health products, while pulling Thai suppliers into global medical supply chains.

The Investment Privileges Zone: Yothi Medical Innovation District Projects in Thailand’s designated medical corridor on Rama VI and Yothi Road, Ratchathewi, Bangkok (2.26 km²) can receive an additional 50% CIT reduction for five years, stacked on top of the project’s base Board of Investment (BOI) incentive, subject to NIA-endorsed collaboration in both: (1) an academic partnership (for example, workintegrated learning or co-operative education) and (2) a clinical/research partnership with a hospital, medical institute, or government body developing deep tech such as MedTech.

Investment Momentum

Health establishment license — required before exercising the CIT exemption and before the full operation deadline. Professional & Ministry of Public Health standards — ongoing compliance obligations that outlast the BOI approval itself. Visas & work permits — foreign specialists, physicians and executives need status matching the promoted activity.

Regulatory Compliance Beyond BOI Approval A BOI promotion certificate grants eligible projects certain tax and non-tax incentives, but BOI approval alone does not constitute full regulatory authorization to operate the promoted business in Thailand. Each promoted project must separately comply with the laws, regulations, licensing requirements, and operational standards administered by the authorities responsible for its specific business activities, products, and personnel. Depending on the nature of the project, this may include requirements relating to immigration and work authorization, Thai FDA approvals, import and export controls, product registrations, sector-specific operating licenses, and other regulatory permits.

Thanyaluck Thongrompo is a partner with experience advising on corporate, commercial, regulatory, and investment matters in Thailand. Her expertise includes BOI and IEAT incentives, licensing, foreign ownership, commercial agreements, data protection, and regulatory matters. She has been recognized among Asia Business Law Journal’s Thailand Top 100 Lawyers since 2023.

This is particularly important for foreigninvested projects, which commonly involves the deployment of foreign capital, technology, intellectual property, machinery, and foreign specialists into Thailand. Accordingly, investors should approach BOI promotion and regulatory compliance as an integrated regulatory framework rather than separate compliance workstreams. The conditions attached to BOI promotion should be considered alongside immigration requirements, product and operational approvals, and licenses issued by the relevant authorities. Thai FDA registration — establishment license and product authorization, scaled to device risk class.

Bhimukh Tiamsawet is an associate in Kudun and Partners’ Corporate and M&A Practice. He advises on mergers and acquisitions, joint ventures, corporate reorganizations, and regulatory matters, including transactions and legal issues in the medical and healthcare sectors. His expertise includes tax structuring and entire business transfers.

LEGAL UPDATE

Beyond the Thai Partner: Control and Accountability in Thai Telecommunications Licensing By John Formichella and Naytiwut Jamallsawat, Formichella & Sritawat Attorneys at Law

In Thai telecommunications, satellite, gateway, cloud-connectivity, IoT, and digital-infrastructure projects, foreign operators often question whether they can do this through a Thai partner.

infrastructure provider, or service contractor be properly assessed. The legal analysis must follow the operating model, not merely the corporate chart.

A Thai partner may be commercially useful, operationally necessary, or legally required. The partner might hold a license, own infrastructure, contract with customers, act as a reseller, handle regulatory filings, provide local support, or participate in a joint venture.

According to Thailand’s Telecommunications Business Act, the licensing framework distinguishes between Type I, Type II, and Type III licenses. That distinction matters because the analysis often turns on what the operator does and whether it owns, possesses, manages, or controls relevant network elements.

The existence of a Thai partner, however, does not answer the regulatory question. What matters is what each party actually does. “Partnership” Is Not One Structure It might mean a joint venture company, project SPV, Thai licensed operator working with a foreign technology provider, reseller, distributor, representative, facilities-hosting arrangement, equipment lease, wholesale model, white-label service, managed-services structure, or purely contractual cooperation with no jointly owned entity. These structures are not interchangeable. The Wrong Starting Question Many projects begin with the question: can we work through a Thai partner? The better first question is: what regulated activity is being performed, and who is performing it? Only after answering that can the role of a Thai partner, licensee, reseller, representative, 24

Commercial Labels Do Not Decide Regulatory Characterization Commercial contracts often allocate roles with precision. A document may describe a Thai company as the “partner,” “reseller,” “gateway provider,” “service provider,” or “local operator.” Those labels are relevant but not conclusive. The regulator may still ask whether that company actually performs the role assigned to it. Nor is a foreign party automatically the regulated operator simply because it supplies technology, equipment, software, or technical support. Foreign technical support and Thai regulatory responsibility can coexist. The issue is where the foreign party’s role crosses from support into control of the regulated activity in Thailand. Ownership Is Not the Only Question A Thai regulated operator does not always need to own every asset outright. What matters is

whether the Thai entity has a lawful right to use the relevant equipment, sufficient possession or access to perform its role, and the ability to operate, supervise, or control the Thailand-based network elements for which it is responsible. Look at the Whole Operating Model That means looking at the corporate structure, commercial agreements, equipment rights, technical design, customer journey, revenue flows, operating procedures, support arrangements, information rights, and the ability of the Thai entity to comply with regulatory directions. The relevant questions will vary by structure. In many cases, they include the following: who has use of the facilities or equipment; who has dayto-day operating authority; who determines service rules and policies; who supervises relevant personnel; who pays key operating obligations; who receives the economic benefit of the service; who can activate, suspend, restrict, or terminate service; who decides which customers may use the service; and who controls the operating schedule. No single factor is usually decisive. Taken together, however, these factors may show whether the Thai entity is carrying out the licensed role or whether another party is exercising control in substance. The regulator may not stop at the corporate chart, the license holder, or the contract title. It may look at the totality of the arrangement and ask whether the legal allocation of responsibility matches the operational reality. Reasonable Restrictions Are Different from Operational Control Modern infrastructure requires technical and security discipline. A foreign supplier may need to protect software integrity, cybersecurity controls, export compliance, intellectual property, network security, maintenance quality, equipment housing, service levels, and operational safety. Likewise, a Thai licensee can use specialized vendors for maintenance, accept servicelevel requirements, follow upstream technical standards, and restrict access to sensitive components for security reasons. None of those

arrangements, by itself, means the Thai entity lacks regulatory responsibility. The harder question is whether the restrictions prevent the Thai entity from performing its licensed role in substance. There is a material difference between reasonable technical or security controls and arrangements that leave the foreign party with control over customer selection, operating schedules, activation, suspension, or service output. The Thai Licensee Must Be More Than a Nameplate A Thai licensee does not need to perform every technical function itself. It may rely on foreign technology, outsourced support, vendor systems, managed services, wholesale arrangements, cloud infrastructure, or specialized equipment suppliers. The licensee still needs a substantive role. It should understand the service, have access to information needed for compliance, possess appropriate contractual rights against suppliers and partners, and be able to respond to NBTC inquiries with authority over the Thailand-facing activity. A telecommunication license is not a decorative feature. It is permission granted to a specific legal person to conduct a regulated activity. When the Thai entity functions only as a contracting shell, billing intermediary, passive conduit, or formal interface with the regulator, its presence may not solve the regulatory issue. Foreign Ownership and Foreign Domination The regulated-operator question often intersects with foreign ownership, foreign business restrictions, and the NBTC’s foreign-domination framework. Even where a Thai entity sits in the contractual chain, the Foreign Business Act analysis may still need to consider the foreign party’s actual activities, revenue flows, control rights, and role in the Thailand-facing service. A telecommunication license does not, by itself, resolve every foreign ownership issue. 25

LEGAL UPDATE In Type II and Type III licensing, the NBTC’s foreigndomination review may look beyond formal shareholding to contractual rights, financing arrangements, management authority, technology dependence, information flows, reserved matters, operational control, and economic benefit. A formal Thai structure or license-holding entity may therefore be insufficient if the wider arrangement gives the foreign party control over the licensed activity in substance.

and foreign operation of the regulated service in Thailand. If the NBTC asks who is responsible for the service in Thailand, the answer should be credible both as a matter of contract and as a matter of operational fact. The Structure Must Match Reality

What a Defensible Structure Usually Shows A defensible structure usually shows alignment between legal responsibility and operational capability. The Thai licensee or regulated entity should have an identifiable operating function. It should understand the service, have a lawful right to use the relevant equipment or infrastructure, have access to information needed for compliance, and possess authority over the regulated activity assigned to it. The foreign party’s role should also be described accurately. If it provides technology, capacity, equipment, software, platforms, maintenance, or support, the structure should say so. It should distinguish between foreign technical support

A Thai partner may be necessary in a telecommunications project. It may be commercially valuable. It may even be legally required. The question is whether the entity presented as the Thai regulated operator can actually perform and answer for the role assigned to it. That question should be answered before the commercial structure is finalized, not after the regulator begins asking it. A Thai partner may be essential, but the structure must still show who is doing the regulated work, who has authority to do it, and who can answer for it in Thailand.

John Formichella is a founder of Formichella & Sritawat, focused on the telecommunications industry and international business. He is a past Co-Chair of the Information and Communications Technology Committee of AMCHAM Thailand. He is rated as Leading Individual by Legal 500 and ranked Band 1 by Chambers and Partners.

Naytiwut Jamallsawat is a partner and a recognized legal advisor in Thailand’s telecommunications, media, and energy sectors. He represents leading companies in complex legal and regulatory matters, with a focus on high-compliance industries.

Better Health, Brighter Future Takeda is a global, R&D-driven biopharmaceutical company committed to discovering and delivering life-transforming treatments and vaccines that have a lasting impact on society. Since our founding in 1781 in a market stall in Osaka, Japan, our values endure by putting patient needs first, building trust with society, strengthening our reputation, and developing the business - in that order. Established since 1969 , Takeda Thailand was the second local office outside of Japan. We bring innovations to Thai patients in GI & Inflammation, Rare Diseases, Oncology, Vaccines , Plasma-Derived Therapies and Neuroscience.

www.takeda.com

SPECIAL UPDATE

A Letter from the Government Affairs Desk Economic and Social Development Plan, the Office of the National Economic and Social Development Council highlighted value-based healthcare as an important area. It also includes other topics that reflect AMCHAM’s broader advocacy priorities, such as Extended Producer Responsibility.

Dear Members, As Parliament considers the final government budget for the coming year, public health funding has become an important topic of discussion. This is closely connected to the work of the AMCHAM Healthcare Council and its Whitepaper, Advancing Healthy Longevity in Thailand Through Innovation, Access, and Sustainable Healthcare Partnership. The Whitepaper presents practical recommendations developed with industry experts from AMCHAM member companies. It calls for cost-effective healthcare solutions, access to innovation, stronger prevention and early diagnosis, and wider use of value-based healthcare. Together, these recommendations aim to improve health outcomes for people in Thailand while supporting the long-term sustainability of the country’s healthcare system. The Council’s recommendations support the government’s future policy direction. During a public hearing on the draft 14th National 28

Beyond developing policy recommendations, AMCHAM Councils engage directly with government agencies to share member perspectives and explore opportunities for cooperation. On June 19, the Healthcare Council and the Food, Beverage & Agribusiness Council met with the SecretaryGeneral and senior executives of the Thai Food and Drug Administration. During the meeting, AMCHAM introduced itself as a resource that can support the Thai FDA in achieving its goals. Council leaders also recognized the agency’s efforts to support business operations during challenging periods, including improvements to the Fast Track process, and discussed areas for future collaboration. More recently, on September 8, Healthcare Council leaders participated in the Department of Intellectual Property’s consultation on intellectual property protection and enforcement. They shared observations on patent examination efficiency, counterfeit healthcare products, and parallel imports. The Department provided an update on its work to amend the Patent Act in line with international frameworks and to improve the efficiency of business operations. These activities demonstrate how AMCHAM Councils serve the broader membership. As business conditions and regulatory issues evolve, AMCHAM Councils leverage the expertise of member companies, foster dialogue with government agencies, and transform industry insights into practical, constructive recommendations for policymakers. Sasitorn (Tong) Mongkolsuebsakul Government Affairs Manager

GOVERNMENT ENGAGEMENT

Friends of Bangkok On August 14, AMCHAM Vice President Raymond Deidrick of Ingredion Incorporated attended the Friends of Bangkok event, organized by the Bangkok Metropolitan Administration (BMA). Bangkok Governor Dr. Chadchart Sittipunt delivered the opening remarks outlining his administration’s vision to develop Bangkok into a livable city for all, supported by an ecosystem conducive to investment and business growth. The Governor underscored the importance of public-private collaboration, inviting foreign partners such as AMCHAM, to help translate these ambitions into action. AMCHAM remains committed to partnering with the BMA across priority areas, including ease of doing business, tourism and hospitality, and the creative industries, helping build a more dynamic, inclusive, and globally connected Bangkok

Digital Governance Council: August 2026 On August 18, the AMCHAM Digital Governance Council welcomed the U.S. Chamber of Commerce’s AI delegation at its first in-person meeting. The meeting discussed updates on the Thai government’s digital agenda, regulatory developments, and the outcomes of the Roundtable Discussion on Powering Growth with a Trusted Digital Ecosystem, held during the Thailand–U.S. Trade & Investment Summit 2026. Participants exchanged insights on the draft AI Act, draft Platform Economy Act (PEA), and draft Amendments of Cybersecurity to strategize the council’s advocacy efforts.

GOVERNMENT ENGAGEMENT

Roundtable Discussion: Powering Growth with a Trusted Digital Ecosystem

On August 17, at the Thailand–U.S. Trade and Investment Summit 2026, the afternoon roundtable discussion on Powering Growth with a Trusted Digital Ecosystem, moderated by Jiradej Jaturavith, Government Affairs and Public Policy Lead for Google Cloud, Asia Pacific, brought together representatives from MDES, ETDA, BDI, DEPA, NCSA, TCCT, the Ministry of Energy, ERC, and EGAT, alongside privatesector perspectives. The discussion focused on promoting responsible AI adoption, strengthening investor confidence, and creating a predictable regulatory environment that balances innovation, transparency, safety, and competitiveness. Participants also highlighted the need for coordinated investment in AI and digital infrastructure, including reliable, affordable, and renewable energy, power grid reliability, water supply management, cloud connectivity, and data centers. Gaps in developing an AI-ready workforce and advancing practical public-private partnerships were also identified as key priorities for building a trusted, resilient, and globally competitive digital ecosystem. 32

Roundtable Discussion: Partnering for Resilient Food-Agri Supply Chains On August 17, at the Thailand–U.S. Trade and Investment Summit 2026, the afternoon roundtable discussion on Partnering for Resilient Food-Agri Supply Chains, moderated by Dr. Kirida Bhaopichitr, Vice Minister for Commerce, brought together representatives from the Customs Department, DITP, OAE, and NXPO, alongside private-sector and other stakeholders. The discussion explored how Thailand and the United States can deepen cooperation to address growing pressures facing agri-food systems, including resource scarcity risks associated with extreme climate conditions. Drawing on U.S. experience in applying advanced technologies to agriculture, participants discussed how solutions can be adapted to Thailand’s farming context and underscored the importance of practical public-private-academic collaboration to ensure regulations keep pace with innovation, support responsible commercialization, and unlock opportunities for a more resilient, competitive, and sustainable food-agri sector.

GOVERNMENT ENGAGEMENT

Department of Intellectual Property’s Consultation Meeting on Intellectual Property Protection and Enforcement On September 8, the AMCHAM Healthcare Council leaders represented AMCHAM members at a consultation meeting on intellectual property protection and enforcement led by Mrs. Auramon Supthaweethum, Director General of the Department of Intellectual Property (DIP). The meeting brought together representatives from the public and private sectors, diplomatic missions, and industry associations to exchange views on intellectual property issues in Thailand. AMCHAM shared healthcare industry perspectives on strengthening Thailand’s intellectual property ecosystem, including patent examination efficiency, enforcement against counterfeit and parallel imports on healthcare products. AMCHAM also reaffirmed the importance of a predictable IP framework that supports innovation, patient safety, investment, and Thailand’s ambition to become a regional healthcare and life sciences hub.

Government Affairs Council: Licensing and Service Facilitation Act Updates On September 9, the AMCHAM Government Affairs Council hosted a session featuring Nattha Parchaiyut, Deputy Secretary General at the Office of the Public Sector Development Commission (OPDC), who shared key developments under the revised Licensing and Service Facilitation Act, including measures to streamline government services, extend license validity, enable automatic renewal and super licenses, and advance electronic one-stop services. The session also covered Thailand’s progress under the World Bank’s Business Ready initiative. The meeting was followed by updates on AMCHAM’s ongoing advocacy initiatives related to emerging government regulations and policies.

IN THE SPOTLIGHT Laura Chevrier is the General Manager for Thailand, Myanmar and Cambodia of Abbott and serves as an AMCHAM Healthcare Council Co-Chair.

“The most impactful public-private collaborations tend to be where both sectors can combine their unique strengths to address shared health priorities.” As a Co-Chair, what do you see as key opportunities for closer collaboration between the public and private sectors to improve health outcomes? The most impactful public-private collaborations tend to be where both sectors can combine their unique strengths to address shared health priorities. Governments bring scale, policy leadership, and deep understanding of population health needs, while the private sector contributes innovation, technology, expertise, and global best practices. I think there is opportunity to work together on prevention, early diagnosis, health education, digital health solutions, and equitable access to care. As CoChair, this is where I see AMCHAM play an important role to foster dialogue, share best practices, and support solutions that improve health outcomes in Thailand. How can digital health technologies and AI expand access to quality care across Thailand? Health technologies can help expand access to quality care by bringing healthcare services closer to patients, particularly in underserved and remote areas. Tools such as telemedicine, remote monitoring, digital diagnostics, and AI-supported decision-making have the potential to improve access, support earlier intervention, and enable more efficient use of healthcare resources. To realize these benefits, however, strong infrastructure, data governance, interoperability, and stakeholder trust are essential. When integrated effectively, digital technologies can help build a more connected, equitable, and sustainable healthcare system in Thailand. How is the shift from longevity to health span shaping Thailand’s approach to healthcare? As Thailand becomes an increasingly ageing society, the focus is shifting from extending life expectancy to helping people live longer in good health. This is driving a more preventive approach to healthcare, with greater emphasis on early detection, health education, vaccination, nutrition, and effective management of chronic conditions. It is also encouraging greater collaboration across the healthcare ecosystem, with government, healthcare providers, communities, and the private sector working together to support healthier ageing and long-term well-being.

From platforms that screen over half of the world’s blood supply, to wearable sensors that track glucose levels without blood, life-changing technology from Abbott helps people live healthier, fuller lives.

FOUNDATION

Meet Sootthida (Anna) Lau A curious learner, coffee lover, and AMCHAM Thailand Foundation Scholarship student who is always ready to embrace new challenges and create a positive impact in her community. Through the AMCHAM Scholarship Orientation Camp, Sootthida gained practical skills, confidence, and inspiration that she later applied during her internship experience.

“The AMCHAM Thailand Foundation Scholarship has been much more than financial support... it has given me the confidence to believe in my potential and prepare for the opportunities that lie ahead.”

My name is Sootthida Lau, and I am an AMCHAM Thailand Foundation scholar and an accounting student at the School of Management, Mae Fah Luang University. I have always been interested in business and enjoy challenging myself to grow. Outside the classroom, I love exploring new restaurants and keeping my daily life organized. Studying accounting has given me both theoretical knowledge and practical skills for my future career. However, my educational journey has not always been easy. One of the most challenging moments came when my family was affected by severe flooding in Hat Yai. Although I was away at university, the disaster placed both financial and emotional strain on my family. This experience strengthened my determination to work hard and create a better future for us. I applied for the AMCHAM Thailand Foundation Scholarship to ease my family's financial burden and continue pursuing my education. Receiving the scholarship gave me peace of mind and allowed me to focus on my studies with greater confidence. One of the most valuable experiences through the scholarship was participating in the Orientation 38

Camp. The workshops equipped me with practical workplace skills that I later applied during my internship. From communicating effectively with colleagues, identifying errors in documents to asking thoughtful questions, or managing my workload, I found myself becoming more confident and professional. I also learned to approach challenges with a positive mindset, viewing mistakes as opportunities to learn and improve. Looking back, the AMCHAM Thailand Foundation Scholarship has been much more than financial support. It has helped me grow academically, professionally, and personally. Most importantly, it has given me the confidence to believe in my potential and prepare for the opportunities that lie ahead.

AMCHAM THAILAND FOUNDATION (ATF) ABOUT US Education has been a core value for AMCHAM since the very beginning of the Chamber. Over the last three decades, AMCHAM has provided over 3,200 scholarships and supported over 890 primary schools.

In 2004, AMCHAM formally registered the American Chamber of Commerce in Thailand Foundation (ATF) to carry out its charitable activities. The ATF is recognized by the Ministry of finance as a Public Charitable Organization (number 632) and donations are deductible in Thailand.

AMCHAM FOUNDATION SCHOLARSHIP PROGRAM Each year ATF enables disadvantaged Thai university and vocational students to complete their higher education studies through targeted scholarships. Our Community Engagement Council works directly with universities and vocational colleges to identify hard-working and motivated students enrolled in programs championed by AMCHAM member companies.

HOW YOU CAN SUPPORT THESE PROGRAMS Sponsor university scholarship. Provide speakers and goodie bag items for Orientation/Career Camp. Join the Community Projects Council.

For further information, contact foundation@amchamthailand.com. 39

AMCHAM HIGHLIGHT

AMCHAM ChariTee Golf Tournament Raises Over 550,000 Baht Toward Scholarships for 140 Thai Students

Funds raised will support scholarships for Thai university and vocational students from disadvantaged backgrounds. The American Chamber of Commerce in Thailand (AMCHAM) raised over 550,000 baht at its annual AMCHAM ChariTee Golf Tournament on September 18. The funds will support the American Chamber of Commerce in Thailand Foundation (ATF) and its goal of providing scholarships to 140 Thai students pursuing university and vocational education this year. Held at Alpine Golf Club, the tournament brought together members of Thailand’s international business community to raise funds for students who might otherwise face financial barriers to continuing their education. “The AMCHAM ChariTee Golf Tournament is more than a fundraiser—it is a cornerstone event that generates crucial funds for our scholarship program while bringing the AMCHAM community together in a spirit of unity and purpose,” said Heidi Gallant, AMCHAM Executive Director and Vice President of the ATF. “The participation and support of our members underscore the international business community’s dedication to investing in Thailand’s future workforce.” This annual event was made possible through the generous support of sponsors, including Air Canada, Boonrawd Brewery, Constant Energy, Delta Air Lines, EVA Air, Ford Motor Company, LawtonAsia, Mastercard, Minor International, Nichada Properties, Pacific Prime Thailand, Phyathai Hospital, RMA Group, STARLUX Airlines, The Siam Beverage Collective, TOS Group, and Vantive Healthcare.

PACIFIC P RIME Simplifying Insurance

EVENT AMCHAM Partner Event

Topgolf Foreign Chambers Open 2026 – Aug 27 Event Highlights: AMCHAM, in partnership with AustCham, BCCT, CanCham, and NTCC, hosted the 2026 Foreign Chambers Open 2026 at Topgolf Megacity. Filling almost the entire second floor of TopGolf, seasoned golfers and those brand new to the game, joined the fun yet competitive tournament. Following all the games and challenges, everyone gathered for open networking to socialize, expand networks, and create good memories. Congratulations to the AMCHAM team for taking home the trophy this time!

Inclusion Committee

Redefining Compliance: Turning Workplace Inclusion into Business Advantage – Sept 4 Speakers: Passaran Boonsiriseth of Citibank; Termsap (Paul) Khemapukpong of Ford; and Pathanin Sornchangwat of Tilleke & Gibbins Organized by: Inclusion Committee Event Highlights: The AMCHAM Inclusion Committee organized a roundtable session bringing together legal, HR, and inclusion practitioners to discuss how workplace inclusion can drive business advantage. Attendees explored how recent legal and regulatory shifts can reduce legal and insurance exposure, strengthen retention, and build a safer, more resilient workplace culture.

EVENT Joint Councils

Creating with Confidence: Towards a Trusted IP for Creative Industries – Sept 4 Speakers: James Cheatley of the Motion Picture Association (MPA); Chayapach Sangtabtim of the Thai Entertainment Content Trade Association (TECA); Athistha (Nop) Chitranukroh of Tilleke & Gibbins; and Chakrit Pichyangkul of the Creative Economy Agency (CEA) Organized by: Creative Economy Council and Legal Council Event Highlights: The AMCHAM Creative Economy Council and Legal Councils jointly hosted a virtual meeting on building a trusted IP ecosystem for Thailand’s creative industries. Speakers shared perspectives on a range of topics, including the economic contributions of content industries and CEA’s initiatives; the upcoming draft AI law and its implications for content creation; and current IP-related issues in the film and music industries. The speakers also discussed how Thailand’s IP ecosystem could be strengthened to support the creative economy amid the rise of AI. Clear and fair IP protection frameworks, industry IP awareness, and cross-sector collaboration were highlighted as key priorities.

Human Capital Committee

Beyond the Basics – Redefining Benefits as a Winning Strategy – Sept 8 Speaker: Thira Laulathaphol of Mercer Organized by: Human Capital Committee Event Highlights: The AMCHAM Human Capital Committee hosted an exclusive session on the latest trends and market benchmarks, shaping employee benefits. Guest speaker, Thira Laulathaphol, revealed new market data and insights from the latest Thailand Mercer Benefits Monitor Survey. Attendees, including HR professionals, explored how the employee benefits landscape has evolved and learned innovative real-world practices adopted by leading organizations around the globe.

EVENT AMCHAM Singnature Event

The Governors’ Table @ The Ritz-Carlton, Bangkok – Sept 10 Speakers: Chatit Huayhongtong of Chevron Thailand; Sondra Sutton Phung of Ford Motor Company; Norachet Saetang of Seagate Technology; Philip Bernard of Western Digital; Raymond Deidrick of Ingredion Incorporated; Ririnda Tangtatswas of Betagro Group; Wiyada Srinaganand of 3M Thailand; and Anothai Wettayakorn of IBM Thailand Event Highlights: AMCHAM hosted its signature Governors’ Table at The Ritz-Carlton, Bangkok, featuring an elegant dinner and stunning views of the Bangkok skyline. The evening brought together distinguished leaders from across the business community, providing senior executives and Board Governors with a platform to exchange perspectives, cultivate meaningful connections, and engage in forward-looking discussions.

Health is everything .

At Johnson & Johnson, we blend heart, science, and ingenuity to lead the future of healthcare where complex diseases are prevented, treated, and cured, treatments are smarter, and solutions are personal. Learn more at https://www.jnj.com/ 47

INNOVATION

Bristol Myers Squibb to Build the Most Powerful AI Factory in Life Sciences with NVIDIA By Bristol Myers Squibb

Bristol Myers Squibb (NYSE: BMY, “BMS”), announced it will expand its compute infrastructure to deploy an NVIDIA DGX SuperPOD with DGX Vera Rubin NVL72 systems, giving BMS the most powerful and energy-efficient singleowned NVIDIA infrastructure in life sciences. The expanded Vera Rubin infrastructure will give BMS’s scientific and computational teams a step-change in computational power and efficiency, with the Vera Rubin architecture delivering up to ten times greater performance per megawatt than its predecessor. This will enable BMS to pursue larger and more sophisticated AI workloads without a proportional increase in energy consumption. The investment builds on nearly three years of collaboration that began when BMS first deployed NVIDIA DGX SuperPOD infrastructure to support its Research and Development activities. It marks the next step in expanding that foundation to match the growing scope and sophistication of BMS's AI-driven scientific programs across oncology, hematology, cardiovascular, immunology, and neuroscience. 48

“BMS has made a deliberate bet on AI, and we are beginning to see it pay off in our pipeline and operations,” said Greg Meyers, Chief Digital and Technology Officer at Bristol Myers Squibb. “We're committed to translating AI into real outcomes for patients which requires infrastructure built to match that ambition. Expanding our compute capabilities with NVIDIA gives our researchers and teams across the business the scale they need to keep BMS at the leading edge of what AI can do for drug discovery & development.” BMS’s investment in AI-powered research has already begun to change how the company discovers and develops medicines, with early results spanning multiple areas of drug discovery. For example, AI agents that automate target identification and validation save BMS scientists weeks of manual work, freeing them to focus on hypothesis testing and the highest-value scientific decisions. Through the company’s “Predict First” approach, a methodology where AI-generated predictions inform experimental design before work begins at the bench, AI informs the design of every small molecule program and the majority of the company’s large-molecule programs. These

are just two examples of BMS’s broader approach: building an integrated, AI-powered learning system that spans target identification through clinical proof of concept, helping scientists make higher-confidence decisions at every stage.

on domain-specific capabilities from BioNeMo, NVIDIA's platform for biological AI, It will also power agentic workflows that allow researchers to evaluate hypotheses at a scale that would have been unachievable just a few years ago.

“Drug discovery is a sequence of decisions made under uncertainty, and better decisions come from better evidence, faster,” said Robert Plenge, Executive Vice President and Chief Research Officer at Bristol Myers Squibb. “This infrastructure lets us learn from every experiment and every clinical readout to sharpen the next hypothesis, allowing BMS scientists to spend less time on manual work and more time on the questions that require human judgment. The goal isn't speed for its own sake; it's raising the probability that each program we advance is the right one.”

“BMS has built decades of extraordinary scientific knowledge across some of the most complex areas of human disease,” said Rory Kelleher, Senior Director of Business Development, Healthcare and Life Sciences at NVIDIA. “With NVIDIA Vera Rubin and BioNeMo Agent Toolkit, BMS has the ability to transform that enterprise scientific data into proprietary intelligence and give agents domainspecific tooling that help scientists explore biology, design molecules, and evaluate hypotheses at unprecedented scale — reinventing how medicines are discovered and developed.”

The expanded agreement advances BMS’s vision of hybrid intelligence, a model of scientific work where AI co-scientists and human researchers operate in close coordination. AI systems handle the execution of complex, data-intensive tasks while scientists focus on direction, interpretation, and decisions that require deep human expertise. The Vera Rubin cluster will serve as the computational backbone for this vision, supporting the development of next-generation foundation models trained on BMS's decades of proprietary data and, where the science calls for it, drawing

Cautionary Statement Regarding ForwardLooking Statements This article contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, the research, development and commercialization of pharmaceutical products and the strategic agreement with NVIDIA. For more information, please visit the website.

AFFINITY PROGRAM Member-to-member Discounts

Amplify your brand's visibility through AMCHAM's Affinity Program by offering Member-to-Member discounts on your products and services. Contact membership@amchamthailand.com www.amchamthailand.com

MEMBER NEWS

JLL Thailand Celebrates AIA Connect Opening, Expands Partnership office space above a five-storey retail podium spanning approximately 4,500 square meters. The development offers an integrated worklife environment with cafés, fitness facilities, convenience retail, and essential services, supporting demand for high-quality workplaces that prioritize employee wellbeing, flexibility, and connectivity. AIA Connect has achieved pre-certification under LEED Gold, WELL Gold, and WiredScore Platinum standards. JLL Thailand (NYSE: JLL) joined AIA Thailand in celebrating the opening of AIA Connect, a mixeduse development that reinforces AIA Thailand's commercial property portfolio and introduces a premium workplace experience in Bangkok's emerging northern CBD. Located on Ratchadaphisek-Rama 9 Road, AIA Connect comprises 27 floors of premium

The development strengthens AIA Thailand's commercial real estate portfolio, which includes AIA Capital Center, AIA Sathorn Tower and AIA East Gateway. JLL Thailand will oversee building operations, engineering and maintenance, sustainability initiatives, tenant engagement programs, and technology-enabled operational solutions designed to support long-term building performance and occupier satisfaction.

Concentrix Wins the 2026 Globee Awards for Delivering Agentic AI Results Concentrix Corporation (NASDAQ: CNXC) recently announced that its iX Suite earned multiple honors in the 2026 Globee Awards for Technology, including two “Best of Category” recognitions. The awards highlight Concentrix’s leadership in applying agentic AI to real-world business operations. Concentrix received awards for iX Hero, its agentic AI platform designed to support humanAI collaboration, and iX Hello, its customer-facing conversational AI that automates routine requests end-to-end while recognizing the moment a case needs human judgment. The company was also honored for excellence in B2B sales enablement and revenue operations. 50

iX Hero was named Best of Category in Collaborative AI (Human-AI Teaming), while iX Hello earned Best of Category recognition in Conversational AI and Next-Generation Chatbot Solutions. These awards add to previous recognition for the iX Suite, which helps several brands move from AI ambition to operational reality.

LINE Thailand Brings LIFELINE to Hug HeartYai, Promoting Digital Tools for Disaster Preparedness LINE Thailand raises awareness of disaster preparedness through “LIFELINE: Ready Before Crisis.” The initiative joined Hug HeartYai, a festival supporting Hat Yai’s recovery after the flood crisis, to bring practical knowledge and tools to the local community, helping turn lessons from past emergencies into better preparation.

and emergencies are becoming more frequent and closer to our everyday lives. Preparing in advance is important because having the right information can help reduce panic and allow us to make better decisions when an emergency happens.”

Through an educational exhibition, visitors learned how to access timely information and alerts through LINE ALERT OA, use LINE Safety Check to share and check safety status during an emergency, and prepare essential items in advance through “PromptPack.” LINE Thailand also hosted a panel discussion on the importance of preparing ahead, encouraging people to move from responding to a crisis to being ready before they happen. Nicharass Archyasithiwat, Chief Marketing Officer of LINE Thailand, said “Today, disasters Click here to register

YOUNG PROFESSIONALS COMMITTEE

WORKPLACES THAT WORK SHAPING CAREERS, CULTURE, AND GROWTH

JAVIER GOMEZ Director, Real Estate and Workplace Services Agoda

RACHEL STEVENS Senior Manager, Real Estate and Capital Projects Agoda

STEPHEN TAYLOR Managing Director, PDS Projects Jones Lang Lasalle

OCTOBER 27, 2 - 4:30 PM AGODA THAILAND, ONE BANGKOK

NEW MEMBERS

Welcome New Members CORPORATE MEMBERS Founded in 1983, Alvarez & Marsal (A&M) is a global professional services firm known for guiding organizations through complex challenges toward sustainable growth. With over 12,000 professionals in over 40 countries, A&M blends deep operational expertise with handson execution, often stepping into interim leadership roles to deliver results. In Thailand, the firm pairs global know-how with local market insight, helping multinational and local businesses drive transformation, improve performance, and navigate complex transactions to compete successfully at home and abroad. A culture technology platform that helps organizations build happier, healthier, higher-performing workplaces by combining AI with behavioral science. Through pulse surveys, continuous feedback, and recognition tools, it delivers real-time insights into engagement, team dynamics, and organizational health, helping leaders spot issues early and reinforce positive behaviors. Beyond technology, Happily.ai offers workshops, leadership development, and advisory services, working with organizations across Asia and globally to turn engagement strategies into daily habits that drive lasting performance.

A doctor-led longevity and regenerative medicine center in Ekkamai, Bangkok, founded in 2025 under Longrich. Led by co-founding physicians Dr. Sarassawadee Suwanjinda and Dr. Napat Hunsajarupan, it delivers physician-supervised, data-driven programs addressing metabolic, hormonal, inflammatory, gut, and cellular health. Serving individuals and corporate teams across Asia, the U.S., and Europe, the center offers precision diagnostics and advanced therapies, including stem cells, exosomes, peptides, and NAD+ infusions, for sustained performance and vitality.

A leading Thai life (MTL) insurer committed to financial security and confidence at every life stage, reflected in total premiums of 70,978 million baht. MTL develops innovative, accessible products and leverages digital platforms to enhance customer experience, while investing in operational excellence and talent. Guided by strong governance and ESG principles, the Company takes a customer-centric approach to create long-term value, promoting stability, growth, and happiness as a trusted lifelong partner. 52

September 2026 A Bangkok-based, full-service event management company specializing in weddings, corporate events, MICE conferences, and exhibitions across Thailand, with over 15 years of experience and more than 300 events delivered. Meaning "miracle" in Thai, Niramit manages every detail, from concept and venue sourcing to in-house design, production, and execution. Trusted by global brands and destination-wedding couples alike, the company is known for creating seamless, immersive experiences with professionalism and creativity.

Founded in Singapore in 2009 and listed on the NYSE (SE), Sea aims to improve lives of consumers and small businesses through technology. Operating across digital entertainment, e-commerce, and digital financial services via Garena, Shopee, and Monee, Sea is a leading consumer internet company in Southeast Asia. In Thailand, it drives the digital economy by connecting consumers, entrepreneurs, and businesses, enabling commerce, entertainment, and financial access while supporting innovation and sustainable growth.

Established in 2014, STT GDC is one of the world's fastest-growing data center providers, delivering secure, scalable solutions worldwide. Built on scale, spirit, and operational excellence, it combines global expertise with local insight for reliable, always-on infrastructure. In Thailand, STT GDC supports digital transformation through world-class facilities and strategic partnerships, upholding strong ESG standards while enabling long-term value creation for businesses and communities across the region.

Corporate Membership is available to all companies registered in Thailand. If you are interested in joining AMCHAM Community, please contact us at membership@amchamthailand.com.

AFFINITY PROGRAM

AMCHAM Member-To-Member Offers

Exc lusive Pr ef e r e nti a l Ra t e s for V is a & Wo rk Per m i t Ad mini s tr a ti v e Se r v ice s f ro m A d e cc o Co n su lt i ng

E xcl u s iv e U p t o 1 5% D i sc ou n t on D i n in g , S p a & L i f e st yl e Pr i v i l e g e s

Es c a p e t o P a ra d i s e wi th an Ex cl us iv e AM C H A M D a y P as s a t A va n i + Kh a o L a k R es ort

10% Disco unt on Foo d and No n-Al co ho l ic Beverag es

M eet & C r ea te : E x clu si v e M e e ti ng Pac kag e at A s co tt Em ba s sy Sa th or n B an g ko k

Special Pri vileg es up to 20 % of f f rom Ba ngkok Hos p ital

E n jo y a Re l axi ng Es ca pe at C ap el la Ba n g k ok w ith an Ex c lu si ve 15% Savin g o n W eekday a nd We eke nd Ra te

2 0% O f f P r em i u m Ta l en t S o l u t i o n & U l tr a Fa s t 7 T a l e n t S o l ut io n

E n j o y T wo Co m p li m e n t ar y B en e f i t s f r o m Co a c h o lo g y to S t r e n g t h e n Y ou r O r g a n i z a t io n

E xc l u s i ve 15% d i sc o u n t on a ll R eg ene ra tive & R e co v er y T rea t m en t s

P r e mi um U ni ver sity Ad miss io ns S up p o r t P ac ka ge

E n jo y 1 0% D i ni n g P r iv i l e g e s f o r A MC H A M M em be r s

D a y Pa ss & St a y Pr ivile ges at L e M ér idie n Ph uke t B each R eso rt

E x c l us i v e 3 0 % D i sc ou n t a t the ON YX A f f i l i a t e d Ho t e l s

Ex c lu s iv e U p t o 50 % D i s co u n t a t t h e D i n i n g & B e a c h C lu b

Buy 4 S hi rts G et 1 C omplime nt a r y S h i r t

S H ot e l s & R e s o r t s T h a i l a n d R e s i d en t s R a t e Sp e c i a l

S pe c i a l 1 , 5 0 0 TH B D i s c o u n t fo r F er til ity Ch e c k - u p f o r A M CH A M M e mb ers

1 5 % Di sc o un t On Sh ort- an d Lon g - T er m St or a g e S e r vi c e s In Sa nta F e Re l oca tion S to r ag e

Special O f f er : E nj oy 1 0% O f f Food At S to ke R es ta ur an t

1 5 % D i s co u n t F o o d a n d B e ve r a ge fo r A M C H A M M em be r s !

En j o y 1 5 % A ' L a r C a r t e Di s h e s , an d B e ve r a ge

10% D isco un t on Me di ci n e & In - H ou s e La b ( OPD & IPD ) & ICU an d C CU Roo ms 2 0% Disc ou n t on R oom Ra te ( IP D)

R ec ei v e a Su i t e o f Pr em i u m B e n e fi t s a t t h e W o r l d ’s F i n es t P ro p e rt ie s fo r A M C H A M M em be r s

Jo i n u s! F o r M e mb e r - to - M e mb e r Off e r s , a g re a t o p p or tu n i ty to a mp li fy Enjo y e xc l usi v e e ye ca r e p r ivi le g e s w it h dis cou nt s up t o T H B 5, 00 0 f or A M C HA M m e m b e rs

F ull Re gist ration Fee Waiver & 10% Tuit ion D iscount at XC L ASB Sukhumvi t f or AM CHAM M ember s

y ou r b r a n d v i s ib ili t y.

Members must present AMCHAM member card to receive promotions or discounts. If you have not received your member card, please contact the AMCHAM office. For more information please visit www.amchamthailand.com. 55

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