Enterprise with Integrity

Productivity and Skills: What can Thailand and Australia do in the Asian century Dr. Bandid Nijathaworn President and CEO, The Thai Institute of Directors

Enterprise with Integrity  Asia will need Australia as much as Australia will need Asia  Next to commodities, Asia offers ideal market for Australia’s services industry to grow  Australia as Asia’ dependable voice on global issues  Australia can be Asia’s partner in development Australia in the Asian century: My view 3

Enterprise with Integrity  Asian century is a historic opportunity  Australia must seize the opportunity through continued improvements of productivity and build capabilities.  Support greater role for Asian countries in a rule- based regional and global order.  Strengthen Australia’s deep and broad relationships across the region at every level. Australia in an Asian century--AAC 4

Enterprise with Integrity  Slow growth in Labor productivity  Stagnant real wage growth  Over-qualified labor and mismatching of skills  Declining labor force due to aging population Thailand’s Productivity Problem 5

Enterprise with Integrity  More investment in new technology  Skills-training  Closer cooperation between industry and university  Better education How to improve Thailand’s productivity 6

Enterprise with Integrity  More investment by Australian companies  Expand Australia’s vocational training systems to build Thai workforce’s productive capacity  Develop complementary skills and qualification assessment and recognition  Strengthen networks between Australia’s industry councils and Thai counterparts  Australian Universities and schools to have a presence and exchange arrangement in Thailand How does Thailand fit in the AAC 7

Enterprise with Integrity  Thai IOD and AICD are already collaborating.  Both can do more for Australian board members to have deeper experience in and knowledge of Asia and in providing Asian cultural competency training  Authorities and businesses can collaborate on reporting on business practices and on governance issues. Corporate boards and the AAC 8

Enterprise with Integrity 9 “If Opportunity doesn’t knock, build a door” Milton Berle

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