thailand
SS
NeM/4
10
What's NewS Issue 5 May 1996
FACT FILE - THAILAND
I
Land surface
514.000 km-
Population
59 min
Unemployment
4.7%
(1992 est.)
GDP (per capita)
2,652
GDP (sector)
agriculture
16.5%
industry
37.7%
services
45.8%
Real GNP growth
7%
Exports
53,415 min
Imports
63,988 min
Source: Rabobank Economie
Research Department.
Figures in USD and percentages
are estimates for 1995.
Uawithya has been in banking
all her working life. '1 was
with Chase Manhattan before
I joined Rabobank,' she says,
'so I'm used to working in big
international banks.' But she
also admits that launching a
rep office is a different
proposition from working in
an established branch. 'I think
the Rabo style is different,
too,' she says. The idea in
everything we do here is aimed
at trying to build relationships.
1 think Thai people appreciate
that approach. People here are
eager to do business, but they
also want to know who they
are doing business with. Our
role as support staff is to take
on as much of the day-to-day
organization so that Tjepke
can get out there.'
CAREFUL
APPROACH
According to
Nawijn, Kanitta
actually does a lot
more than that.
'Every market has
its own culture and
Thailand is not
different. What she
does is make sure
I'm alert to how
things are done
here. You know, you
have to be very careful when
you enter a new market. You
can't afford to make mistakes
because that can really damage
your reputation. Kanitta is
great in that way. She's very
upfront about how you should
handle people, what you
should and shouldn't do.
That's a tremendous help when
you're going into a new
company.'
SINGAPORE SUPPORT
While Nawijn considers
himself fortunate with his
team, he remains heavily
dependent on account-office
support from the Singapore
branch. 'We rely on the branch
not only for account
management assistance, but
also for operations and so on.
In the near future, we hope to
find a local account manager
to join our team here in
Bangkok. We're looking hard
now for the right person.'
EXPANDING CLIENT
BASE
As a rep office, Bangkok's role
is to bring in business which is
currently booked in Singapore.
'In this start-up phase, much of
what we do is building
goodwill. Singapore had
worked this market before we
set up, so there is an existing
cliënt base. What we have to
do is expand that base. A lot
of the work you do brings in
Tjepke Nawijn
Krung Thongchan
no immediately visible results.
For example, we've been
involved recently in an
introductory work for Dutch
companies interested in doing
business here. You bring
people together, mediate
contacts. That's not exactly
money in the bank for us as
Rabobank. But it is an
investment that is highly
appreciated and is likely to
have pay-offs in the longer
term, especially when we can
offer products ourselves.'
COOPERATIVE INTEREST
This brings us neatly to
Bangkok's application for a
banking licence. 'The last time
I spoke to the authorities, they
actually volunteered the
information that things are
looking very positive for
Rabobank. I think the ministry
people had been impressed by
meeting Rabobankers like
ITenk Visser and Hanno
Riedlin at our official opening.
They are extremely interested
in the cooperative concept of
banking. And we've followed
up on that interest by trying to
provide them with insights into
how a cooperative can be
structured. I've also suggested
our RIAS people could play a
useful role here in Thailand in
developing the right kind of
structure. Again, activities like
this don't immediately lead to
tangible transactions. But they
are tremendously productive in
establishing the bank as a
major international financial
institution.
UNIQUE EXPERTISE
By taking things slowly, and
doing their homework
thoroughly, the Bangkok team
is gradually building up the
Rabobank name and
reputation. 'There is a
willingness in this country to
meet with you and talk,'
Nawijn has discovered. 'But
even though people are very
friendly and open, they are
also very careful. Because this
is such a flourishing growth
market, there are countless
banks willing to lend money
here. Of course, Rabobank
does that too. But it's not the
whole picture. Our task is to
convince the business
community we are a
relationship bank with unique
expertise in food and
agribusiness and that we're
very much here to stay.'
Investing in China is the title of
a dedicated seminar organized
by the bank in cooperation
with Moret Ernst Voung and
Sedgwick. Practical experiences
of major corporates, including
Philips and Heineken, which
have already moved into the
People's Republic of China
(PRC) form the body of the
meeting with a political and
economie overview as
background. Chairman Herman
Wijffels opens the Dutch-
language seminar at 3.30 pm
on 9 May in headoffice, but
simultaneous English
translation will be provided, not
least because PRC ambassadors
to both the Netherlands and
the UK will be present. For
more info, contact: Maarten van
den Bergh, marketing services,
+31 (0)30 216 2331.
accountmanagement en operations ondersteuning. Voor de start van het kantoor in Bangkok werd deze markt al bewerkt vanuit
Singapore. Om het klantenbestand uitte breiden kijkt Tjepke Nawijn nu uit naar een lokale accountmanager. Over een eigen
banklicentie wordt met de overheid gesproken en de kansen lijken goed, mede als gevolg van de coöperatieve structuur.Thailand
is in deze structuur zeer geïnteresseerd en RIAS zou hierin dan ook een rol kunnen spelen.
