Despite a slow economic recovery, Saha Group, Thailand's biggest consumer goods conglomerate, is set to invest in various joint venture projects this year, including tour services with a Malaysian partner and interior design in Myanmar.
The group also wants to put more energy into seeking business opportunities in e-commerce to capitalise on the government's digital economy initiative.
Boonkiet Chokwatana, chairman of the executive committee of I.C.C. International Plc, Saha's marketing arm for fashion and cosmetics, said the group is seeking greater investment opportunities in Thailand and the Asean region.
Four joint venture projects will take shape at the 20th Saha Group Fair, to be held at Queen Sirikit National Convention Center from June 30 to July 3.
Thai President Foods Plc, the maker of Mama instant noodles, will form a joint venture with a Japanese ramen producer to open a restaurant in Bangkok.
Saha Pathana Inter-Holding Plc, Saha's investment holding company, will enter a joint venture with a Malaysian partner, Mayflower Group, to offer comprehensive tour services.
Saha Group will sign an agreement with World Co, a luxury apparel maker in Japan, to establish World Saha Fashion Co as a marketer of luxury fashion apparel in Thailand.
Thai Arusu Co, a Saha subsidiary, will partner with MK Group, a conglomerate in Myanmar, to establish Arusu Myanmar to expand its interior design business there.
Mr Boonkiet said the partnerships would strengthen know-how at Saha, which is ready for further international growth.
"Consumer spending power has gradually improved, as indicated from better sales of food under our group," he said. "The government is on the right track but it should execute its infrastructure megaprojects faster."
Saha Group chairman Boonsithi Chokwatana expressed his optimism regarding the company's growth plans.
"I believe in the potential of the Thai economy, which is better than other countries," he said. "We are ready to allocate our budget and other resources in a cautious and efficient manner."
Mr Boonsithi said the tour service venture marks the first time the group has teamed up with a Malaysian partner to expand inbound tour services and draw more visitors to Thailand.
He added that prospects are bright for interior design in Myanmar because many foreign companies plan to develop properties in the country.
Apart from the joint ventures, Mr Boonsithi said the company seeks to expand its textile business at its industrial estate in the Special Economic Zone in Mae Sot district, Tak province, to further capitalise on Myanmar's labour force.
"Though it has shown some signs of economic recovery, we will invest cautiously as there will be unexpected factors at home and abroad," Mr Boonsithi added.