Power of Thai' put to work

The flood crisis has created an opportunity to turn business rivalry into a partnership for the common good, say business leaders.

The heads of 12 of Thailand's biggest corporations yesterday announced a plan to pool their resources to help put the flood-ravaged kingdom back on its fleet.

Their "Power of Thai" campaign aims to raise 100 million baht over eight months, with education as the priority.

The programmer was the brainchild of Thapana Sirivadhanabhakdi, the president and CEO of Thai Beverage Plc. Other participants are Advanced Info Service, True Corp, Central Group, GMM Grammy, Muang Thai Life Assurance, ICC International, Bangkok Bank, Major Cineplex, Thai Union Frozen Products, BTS Group Holdings and Mitr Phol Sugar.

"Every time we meet Khun Paiboon (Damrongchaitham) of Grammy or Khun Sara (Lamsam) of Muang Thai Life, we always talk about our businesses and bluff each other," said Sudhitham Chirathivat, executive chairman of Central Group of Companies. 

This is a new dimension. We're not talking about business. What we're doing together is a common attempt to revive Thailand."

Mr Thapana said each business would contribute seed money and fund activities to raise more funds, including producing one million Power of Thai wristbands to be sold at 100 baht each. 

They intend to raise more funds through sales of products bearing the Power of Thai logo.

Isara Wongkusolkij, president of Mitr Phol Sugar, said education was chosen because a better educational system would be essential to building the future.

Apart from sharing resources, the businesses are optimistic about economic growth next year, spurred by heavy government spending on rehabilitation as well as private sector revival efforts.

Sompol Chaisiriroj, vice-president of ICC International, the Saha Group apparel flagship, said businesses would move ahead very quickly with rehabilitation because otherwise they would risk losing opportunities.

This will create more new employment and production.