Business sector gearing up for Apec CEO Summit
published : 12 Jul 2022 at 04:42
newspaper section: Business
The Thai business sector is gearing up for the hosting of the Apec CEO Summit in Bangkok this year, expecting the meeting to lead to business insights post-pandemic and a boost in economic activity during the three-day summit in mid-November.
It is the first time since Covid-19 broke out in 2020 that key business leaders from the 21 members of the Asia-Pacific Economic Cooperation (Apec) will join a face-to-face meeting in Bangkok, said Poj Aramwattananont, chairman of the Apec CEO Summit and a member of the Apec Business Advisory Council (Abac) Thailand.
The Apec CEO Summit is held as part of the annual Apec Economic Leaders' meeting, which is scheduled to take place between Nov 18-19 in Bangkok.
"The [Apec CEO] summit marks an opportunity for us to showcase the Thai economy, which is ranked second in terms of GDP after Indonesia," said Mr Poj.
Thailand's GDP is currently valued at around US$500 billion, with export, manufacturing and service sectors playing a key role in driving the economy.
"We are also good at food processing, earning us the status of a country with food security," said Mr Poj.
Topics to be discussed among the Apec CEO Summit's participants include the circular economy in practice, digital economy and inclusive growth.
A circular economy is part of the bio, circular and green (BCG) economic development model, which is being promoted by the Prayut Chan-o-cha government.
A circular economy involves upcycling processes to make value-added products.
BCG has gained interest from Abac Thailand as a way to support economic development, along with efforts to protect the environment, including decarbonisation plans.
Chadatip Chutrakul, chief executive of Siam Piwat Co, which runs Iconsiam, said the Apec CEO summit, which is set to be held at this riverside mixed-use complex, will also benefit businesses operating near the venue.
Hoteliers, tourism service providers and boat operators will all take advantage of the event, set to be held from Nov 16 to Nov 18.
- Apec CEO Summit