Tycoon says Thailand needs five million skilled foreigners to boost economy
Thailand is in need for at least five million talented foreigners to create an economy that can deal with the challenges of the 21st century, Thai billionaire Dhanin Chearavanont told local media outlets.
“Thailand needs around five million world-class talents to teach and lead Thais,” Dhanin, who is senior chairman of agriculture and retail conglomerate Charoen Pokphand Group and Thailand’s richest man with a fortune of around $15.4 billion, said.
His statements were carried in interviews last month on his views on ways to beat the economic downturn in Thailand induced by the coronavirus crisis, published in business news outlets such as Longtunman and ThaiPublica (both in Thai language).
He said that the government should open the doors to foreign expertise despite the current massive job losses in the country since the skill levels in many economic areas in Thailand were not up to date, let alone capable of launching enough new innovative businesses to restart the pandemic-hit economy.
Thinking about incentives
To attract “great brains,” the government should incentivise them, for example by giving them Thai nationality or at least reduce red tape for work permits and visas and do away with the 90-day reporting regulation for foreigners, Dhanin, who has occasionally been talked about to become the country’s prime minister, suggested.
“Smart people from abroad” should do work in areas Thai people can’t do, so to not give the impression they would take away jobs from Thai people, he said, giving the example if his own company would rely only on Thais, it would not be able to expand to foreign countries. Thailand also needed more innovative companies in the green energy sector and more people writing “intelligent software,” he noted.
“The business world is changing,” Dhanin said.
“Therefore, if Thailand wants to become an economic center, we need talented people to work here. When they come and teach Thais, businesses and investors will follow. But the law must be ready to allow smart people to live here,” he noted, adding that “Thais should not be selfish but open-minded.”
He gave historic examples when Thailand used expertise from the British in the second half of the 19th century to build up its military and let Chinese people develop international trade.
Restarting the economy
Dhanin further urged the Thai government to open the economy rather sooner than later.
“We don’t know when the pandemic will end, but we also can’t wait for it while the economy is going downhill,” he said.
The analysis department of his group found that Thailand is losing about 15 million baht per day ($482,000) in production value due to the coronavirus lockdown, which has added up of about 32.5 per cent of GDP so far.
Dhanin noted that the world after the Covid-19 crisis will change “enormously.” Online education and online shopping will become much more common, while the use of paper money will be reduced.
With regards to Thailand, the government should particularly focus on the revival of tourism, strengthening and modernisation of the agricultural sector and support the healthcare sector. Businesses should be provided with low-interest loans to support their working capital in the restart phase.
Thailand is in need for at least five million talented foreigners to create an economy that can deal with the challenges of the 21st century, Thai billionaire Dhanin Chearavanont told local media outlets. “Thailand needs around five million world-class talents to teach and lead Thais,” Dhanin, who is senior chairman of agriculture and retail conglomerate Charoen Pokphand Group and Thailand’s richest man with a fortune of around $15.4 billion, said. His statements were carried in interviews last month on his views on ways to beat the economic downturn in Thailand induced by the coronavirus crisis, published in business news outlets...
Thailand is in need for at least five million talented foreigners to create an economy that can deal with the challenges of the 21st century, Thai billionaire Dhanin Chearavanont told local media outlets.
“Thailand needs around five million world-class talents to teach and lead Thais,” Dhanin, who is senior chairman of agriculture and retail conglomerate Charoen Pokphand Group and Thailand’s richest man with a fortune of around $15.4 billion, said.
His statements were carried in interviews last month on his views on ways to beat the economic downturn in Thailand induced by the coronavirus crisis, published in business news outlets such as Longtunman and ThaiPublica (both in Thai language).
He said that the government should open the doors to foreign expertise despite the current massive job losses in the country since the skill levels in many economic areas in Thailand were not up to date, let alone capable of launching enough new innovative businesses to restart the pandemic-hit economy.
Thinking about incentives
To attract “great brains,” the government should incentivise them, for example by giving them Thai nationality or at least reduce red tape for work permits and visas and do away with the 90-day reporting regulation for foreigners, Dhanin, who has occasionally been talked about to become the country’s prime minister, suggested.
“Smart people from abroad” should do work in areas Thai people can’t do, so to not give the impression they would take away jobs from Thai people, he said, giving the example if his own company would rely only on Thais, it would not be able to expand to foreign countries. Thailand also needed more innovative companies in the green energy sector and more people writing “intelligent software,” he noted.
“The business world is changing,” Dhanin said.
“Therefore, if Thailand wants to become an economic center, we need talented people to work here. When they come and teach Thais, businesses and investors will follow. But the law must be ready to allow smart people to live here,” he noted, adding that “Thais should not be selfish but open-minded.”
He gave historic examples when Thailand used expertise from the British in the second half of the 19th century to build up its military and let Chinese people develop international trade.
Restarting the economy
Dhanin further urged the Thai government to open the economy rather sooner than later.
“We don’t know when the pandemic will end, but we also can’t wait for it while the economy is going downhill,” he said.
The analysis department of his group found that Thailand is losing about 15 million baht per day ($482,000) in production value due to the coronavirus lockdown, which has added up of about 32.5 per cent of GDP so far.
Dhanin noted that the world after the Covid-19 crisis will change “enormously.” Online education and online shopping will become much more common, while the use of paper money will be reduced.
With regards to Thailand, the government should particularly focus on the revival of tourism, strengthening and modernisation of the agricultural sector and support the healthcare sector. Businesses should be provided with low-interest loans to support their working capital in the restart phase.
