1. www.scbeic.com E-mail : eic@scb.co.th : +662 544 2953 0505Houseview EIC Online Update E-mail

2. Executive summary SMEs SMEs SMEs ... SMEs SMEs ? SMEs 4 - 7 8 - 10 11 -17 18 - 25 26 - 39 40 - 50 51 - 55 56 - 70 71 - 73 SMEs global trend ? AEC SMEs ?

3. 4 EIC l Economic Intelligence Center AEC SMEs ? SMEs ? SMEs 300 SMEs (labor- intensive industry) (turnover rate) (AEC) SMEs AEC (direct effect) (indirect effect) 300 8% 100% 100% 3% 4% SMEs 10-15

4. 5 EIC l Economic Intelligence Center (skillmismatch) SMEs (labor productivity) SMEs SCB EIC SMEs SMEs 1-2 300SMEs 12% EIC 8% SMEs SMEs

5. 6 EIC l Economic Intelligence Center AEC SMEs AEC AEC SMEs SMEs AEC SMEs global trend (border trade) SMEs SMEs SMEs (global trend) SMEs (social network) SMEs emerging markets (niche market) ... SMEs global trend SMEs AEC SMEs SMEs CLMV

6. 7 EIC l Economic Intelligence Center Focus group SMEs (SCB Yong Entrepreneur Program YEP) 12 SCB EIC SMEs SMEs AEC SMEs

7. 8 EIC l Economic Intelligence Center (business environment) SMEs 300 SMEs SMEs (labor-intensive industry) SMEs SMEs1 300 1 : SCB EIC SMEs 13.1 12.5 12.9 6.0 12.6 16.0 8.6 6.1 Small Medium 300 : % 300 : %

8. (turnover rate) SMEs SMEs SMEs SMEs (AEC) SMEs AEC SMEs 3 9 EIC l Economic Intelligence Center 2 : SCB EIC SMEs 7.5 15.6 12.1 2.0 11.2 10.8 8.9 16.0 Small Medium sector : % : %

9. (non-tariff barriers) ( ) SMEs supply chain SMEs SMEs SMEs SMEs (craftsmanship) SMEs 10 EIC l Economic Intelligence Center (labor productivity) SMEs 3 : SCB EIC SMEs global trend : 200,000 250,000 300,000 350,000 400,000 450,000 500,000 550,000 600,000 650,000 700,000 2005 2011 CAGR 5% CAGR 4% Overall SMEs :

10. 300SMEs (direct effect) (indirect effect) (cost pass-through) SMEs (direct effect) 2% -- (hospitality) SCB EIC 30% 80% 10% hospitality 30% 40% 11 EIC l Economic Intelligence Center (direct effect) 4 : SCB EIC 1/2010 (Labor Force Survey 1Q/2010) Input-Output table 2005 (NSO) 2 (direct effect) 2 : % hospitality = 5.0% 4.0% 3.4% 2.1% 5.2%

11. (indirect effect) (supply chain) 100% 8%100% 12 EIC l Economic Intelligence Center 100% 8% 5 : SCB EIC 1/2010 (Labor Force Survey 1Q/2010) Input-Output table 2005 (NSO) 2 = 100% : % : 7.6% 2 = 100% : %

12. 100% (long-run cost pass-through) 25-35% 5 100% 2 1. (base case) 5 10% 50% 30% 2. (high pass-through case) 5 30% 70% 50% 20% (systemic shock) 13 EIC l Economic Intelligence Center

13. 14 EIC l Economic Intelligence Center 6 : SCB EIC 50% 70% + 40% 60% 30% 50% - 20% 40% 10% 30% 1 2 - 20% 40% - 20% 40% 50% 70% -hospitality - 20% 40% 30% 50% 10% 30% - 30% 50% - - 30% 50% - - 30% 50% 3G 30% 50% 30% 50% 30% 50% + 40% 60% - 20% 40% 1 2

14. 100% 3% 100% hospitality pass-through 20% 23% 20% hospitality 15 EIC l Economic Intelligence Center

15. 16 EIC l Economic Intelligence Center 100% (indirect effect) 7 8 : SCB EIC 1/2010 (Labor Force Survey 1Q/2010) Input-Output table 2005 (NSO) : SCB EIC 1/2010 (Labor Force Survey 1Q/2010) Input-Output table 2005 (NSO) : % (indirect effect) : % : % (indirect effect) : % : 2.6% : 3.2%: 2.6% : 3.2%

16. 100% 2 100% SCB EIC Input-Output table 2005 ( ) 2.3-2.4 3.3-3.4% GDP 2005 (margin) 4% hospitality margin 17 EIC l Economic Intelligence Center 9 : SCB EIC 1/2010 (Labor Force Survey 1Q/2010) Input-Output table 2005 (NSO) : % (margin) 100% (margin) 100% : %

17. SMEs SMEs (labor productivity) 10-15 2005 2011 10-15 10-15 18 EIC l Economic Intelligence Center SMEs 3 10-15 10 : SCB EIC NESDB APO Productivity Database 2012 2011 : 0 1 2 3 4 5 6 0-4 5-9 10-14 15-19 20-24 25-29 30-34 35-39 40-44 45-49 50-54 55-59 60-64 65-69 70-74 75-79 80+ 10-15 10-15

18. 4,900 2011 ( 2000) (2005-2011) 1.4% 2000-2005 3.8% 1.4% 2005-2011 12,000 2011 ( 2000) 10% (middle-income trap) 19 EIC l Economic Intelligence Center 11 : SCB EIC World Bank 176.2 210.0 Real GDP 2005 Real GDP 2011 -1.5 18.2 (1% ) 17.1 33.8 (2% ) 2005-2011 : 2005-2011 :

19. 12,000 2011 ( 2000) 1,700 5,000 40%46%14% 4,900 middle-income trap 20 EIC l Economic Intelligence Center 12 : SCB EIC IMF World Bank ( 2011) : 2000 : %CAGR 0 10,000 20,000 30,000 40,000 50,000 60,000 -4% -2% 0% 2% 4% 6% 8% 10% 12% 1990-1995 1995-2000 2000-2005 2005-2011

20. BOX: ? SCB EIC 103,000 3 260,000 21 EIC l Economic Intelligence Center 13 : SCB EIC 14 15 23 25 2005 2011 36 39 1.5% 1.1% 20,000 15,000 12,000 9,000 : , %CAGR :

21. (skill mismatch) World Bank 30% AEC 22 EIC l Economic Intelligence Center Skill mismatch 14 : SCB EIC () : -300 -200 -100 - 100 200 300 2005 2006 2007 2008 2009 2010 2011 . . -300 -200 -100 - 100 200 300 2005 2006 2007 2008 2009 2010 2011 () :

22. skill mismatch 1 1 3-7 . . 90% SMEs SMEs hospitality 23 EIC l Economic Intelligence Center

23. SMEs SMEs 24 EIC l Economic Intelligence Center 15 : SCB EIC CEIC 2010 : (nominal price 2010) 32,275 22,26417,889 9,66817,399 2,3300 5,000 10,000 15,000 20,000 25,000 30,000 35,000

24. 300 SMEsSMEs SMEs layout 3 (productivity) 300 outsource outsource (value-added) (white labeling) quantity discount (differentiation and uniqueness) BOX: SMEs 300 25 EIC l Economic Intelligence Center

25. 26 EIC l Economic Intelligence Center SMEs 300 (AEC) SMEs SMEs SMEs SMEs 1 1-2 300 13% 1-2 SMEs SMEs SMEs 9% AEC SMEs 4 SMEs 1-2 16 : () 1-2 : SCB EIC 1 SMEs 37 308 9% 2% 7% 8% 13% 11% 10% 9% 0% 2% 4% 6% 8% 10% 12% 14% 1-2 1-2 : % 1-2 : %

26. SCB EIC SMEs SMEs 2 300 (AEC) 300 SMEs 12% 300 (indirect effect) 6-7% SMEs 12% SMEs 8% ( 2 ) SMEs 27 EIC l Economic Intelligence Center SMEs 300 17 : 300 % : SCB EIC 4% 4% 6% 8% 6% 7% 7% 6% 10% 11% 13% 14% 0% 5% 10% 15% : 12% 300 : % 38% 45% 50% 44% 62% 55% 50% 56% (unskilled) (skilled) () 235 296 133 59 (%) 20% 16% 10% 10% SMEs : %

27. 28 EIC l Economic Intelligence Center SMEs 17% 22% 14% 11% SMEs 16% 27% 24% SMEs 18 : : SCB EIC 0% 20% 40% 60% 80% 100% ( 20%) (20-50%) ( 50%) 100% 3 (%) 22% 20% 14% 11% 17% SMEs : % SMEs 47%53% 59% 41% 70% 30% 56%44% SMEs : % SMEs

28. 29 EIC l Economic Intelligence Center SMEs 19 : : SCB EIC : % 0% 5% 10% 15% 20% 25% 30% 21% 11% 10% 27% 24% 16%

29. SMEs SMEs SMEs SMEs SMEs SMEs 3 8% 3% 8.4% 30 EIC l Economic Intelligence Center SMEs SMEs 20 : : SCB EIC SMEs : % SMEs 26% 74% 0% 50% 100% = 20% 51% 49% 0% 50% 100% = 40% 63% 37% 39%61% SMEs SMEs

30. 31 EIC l Economic Intelligence Center SMEs 21 : % 3 : SCB EIC 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 1-5% 5-10% 10-20% 20% 3 : % SMEs (%) 7.2% 7.8% 8.2% 8.4% 3 : % SMEs

31. SMEs SMEs 35% 1% SMEsSMEs SMEs (Economies of Scale) SMEs SMEs 32 EIC l Economic Intelligence Center SMEs 22 : 300 : SCB EIC 1% 4% 14% 20% 26% 35% 72% 28% SMEs 300 : % SMEs SMEs 300 : % SMEs

32. 33 EIC l Economic Intelligence Center SMEs SMEs SMEs SMEsSMEs SMEs SMEs SMEs SMEs SMEs 23 : 300 : SCB EIC 22% 21% 17% 0% 20% 40% 60% 80% 100% Small Medium Large 300 : % SMEs 33% 32% 28% 17% 0% 20% 40% 60% 80% 100% 67% 68% 72% 83% 78% 79% 83% 300 : % SMEs

33. AEC SMEs 60% AEC AEC SMEs AEC 57% AEC 85% SMEs AEC 45% AEC SMEs AEC SMEs AEC SMEs AEC 34 EIC l Economic Intelligence Center SMEs AEC AEC 24 : (AEC) AEC AEC : SCB EIC 5% 52% 41% 2% AEC AEC AEC 28% 45% 57% 32% 15% 23% 85% 68% 15% 32% AEC AEC : % SMEs: % SMEs: % SMEs

34. 35 EIC l Economic Intelligence Center AEC SMEs AEC AEC 53% SMEs 1 4 1-2 52% AEC SMEs AEC 49% 70% SMEs AEC 25 : AEC : SCB EIC AEC : % SMEs 35% 39% 28% 52% 53% 39% 47% 36% 12% 22% 25% 11%

35. 36 EIC l Economic Intelligence Center AEC SMEs AEC26 : AEC : SCB EIC AEC : % SMEs 50% 56% 61% 54% 31% 26% 14% 36% 19% 18% 25% 10% / 46% 34% 16% 5% 23% 18% 22% 26% 15% 26% 17% 23% 15% 8% 24% 36% 13% 21% 10%

36. 37 EIC l Economic Intelligence Center SMEs AEC 72% 57% SMEs SMEs SMEs AEC AEC SMEs AEC 201527 : AEC : SCB EIC SMEs AEC : % SMEs 8% 16% 20% 24% 32% 7% 17% 21% 26% 28% SMEs 72% 28% 57% 43%

37. 38 EIC l Economic Intelligence Center AEC SMEs SMEs SMEs 5% SMEs 17% 3 SMEs CLMV SMEs SMEs SMEs 28 : 3 : SCB EIC 13% 14% 15% 17% 20% 20% 36% 6% 8% 24% 27% 27% 31% 5% 17% 95% 83% 3 3 SMEs 3 SMEs SMEs SMEs : % SMEs

38. SMEs 26% SMEs SMEs SMEs 2 44% 42% SMEs SMEs 12% SMEs 11% 3 SMEs SMEs SMEs SMEs 39 EIC l Economic Intelligence Center

39. 40 EIC l Economic Intelligence Center 1-2 4 80% (border trade) 20%YOY 3-5% 4 (CLM) 80% border trade 4 70 30 .. SMEs 5 29 * : SCB EIC * 2011 () : : % 2011 () : % * : 2009 2010 2011 833 1,007 1,147 76.7% 77.3% 78.4% 23.3% 22.7% 21.6% 7.8% 12.3% 17.5%62.3% 100% = 899.8 % CAGR (2009-2011) 8.5% 12.1%

40. 2 3 98% - 41 EIC l Economic Intelligence Center 4 30 : SCB EIC - - - - - - - - - - -

41. 42 EIC l Economic Intelligence Center CLM 5 CLM 2,400 2 50% - 20,000 90%YOY

42. - - AEC - - - 27%YOY 1 45% (brand recognition) 60% 43 EIC l Economic Intelligence Center CLM 60% 31 : SCB EIC , , , , , , , , , , , , , , , (96.0%) (1.5%) , , ,

43. SMEs - - 3 (business model) - - 2 30% 2012 - 2015 - - ( ) SGS () 44 EIC l Economic Intelligence Center

44. - - 80% 500,000 L/C (direct quote) - - AEC 3 SMEs 3 6 3 47,499 3% 45 EIC l Economic Intelligence Center

45. 2 () AEC (MOU) 2011 3 (perishable goods) 46 EIC l Economic Intelligence Center

46. (special economic zone) 3 SMEs SMEs (expat) 47 EIC l Economic Intelligence Center 6 3% 32 : SCB EIC 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 2009 2010 2011 1H 2011 1H 2012 : 73,495 94,885 92,362 46,015 47,499 3.2% YOY :

47. 48 EIC l Economic Intelligence Center 33 : SCB EIC 2,100 (sister cities) . ACMECS 2 1,600 AEC / / 6,000 - (export processing zone) (supporting industries) 100%

48. 49 EIC l Economic Intelligence Center 34 () 2011 2012 () ..-.. 10 2011 (%YOY) 2012 ..-.. (%YOY) () 2011 2012 () ..-.. 10 2011 (%YOY) 2012 ..-.. (%YOY) 5,075.2 2,453.95.2 -28.1 2,531.3 1,945.920.7 18.3 2,500.1 1,960.956.1 32.9 2,375.7 2,232.98.0 21.7 2,310.6 2,053.743.7 38.5 2,073.8 1,289.8-10.4 -5.3 1,936.5 1,534.2-0.6 13.8 1,767.4 1,080.060.5 27.3 1,716.1 1,681.31.7 49.3 1,658.3 1,781.5-2.1 48.3 35,120.3 30,150.416.9 29.8 59,065.3 48,164.515.6 23.6 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10 13,916.7 7,792.8 4,932.1 3,411.1 3,029.1 2,518.6 2,261.9 1,960.0 1,850.6 1,804.9 37,646.9 81,124.8 40.1 19.3 36.0 -14.8 12.4 60.8 19.7 326.3 121.4 -20.1 24.2 26.5 11,879.9 7,824.2 3,597.7 2,901.3 2,830.4 1,448.2 1,878.8 1,325.7 5,353.8 908.7 33,694.0 73,642.7 27.6 64.5 9.3 64.1 43.9 -8.0 31.0 16.3 474.6 -25.4 39.6 42.9

49. 50 EIC l Economic Intelligence Center 35 () 2011 2012 () ..-.. 10 2011 (%YOY) 2012 ..-.. (%YOY) () 2011 2012 () ..-.. 10 2011 (%YOY) 2012 ..-.. (%YOY) 7,360.1 4,793.110.4 -6.7 3,631.3 2,595.051.1 16.7 3,312.6 3,333.939.3 64.0 3,232.6 3,190.847.0 53.5 2,926.2 936.333.7 -59.7 2,696.7 1,919.621.8 14.1 1,836.5 1,294.8-5.0 2.8 1,719.3 865.778.8 -39.7 1,646.8 1,286.2-9.4 34.9 1,521.4 1,218.719.1 21.1 30,715.7 24,184.814.6 18.4 60,599.3 45,618.919.2 12.5 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10 207,324.4 29,780.0 25,908.2 12,387.1 8,104.1 6,118.0 6,069.5 4,948.2 3,992.7 3,710.0 71,022.0 379,364.2 45.7 -21.1 5.7 38.0 -9.8 13.9 5.5 -30.4 -12.7 -22.0 1.0 18.4 98,811.9 13,853.9 17,027.4 8,557.7 4,864.2 4,323.5 3,123.9 4,203.4 1,220.0 2,578.6 50,706.0 209,270.4 -30.3 -25.9 -3.9 16.1 -15.1 7.6 -33.2 19.7 -58.3 2.0 4.7 -18.7

50. (globalization) SMEs lifestyle SMEs business model (social network) SMEs social network Facebook Twitter digital media SMEs Facebook Facebook 11 16 ( 2012) digital lifestyle SMEs SMEs like SMEs Facebook like fan page 1 like like 6 ! TNS International 20-45 1,200 30 1 iResearch 10,730 (51,611 51 EIC l Economic Intelligence Center SMEs global trend ?6

51. )70%4-5 30% 37,240 (184,710 ) SMEs (going green) SMEs eco-products SMEs eco-design recycle eco-shop SMEs (recycle) 52 EIC l Economic Intelligence Center 3 201536 : SCB EIC 2010 6,360 10,730 37,240 2011 2015F CAGR 69% CAGR 28% :

52. tableware SMEs (niche market) nichemarketing lifestyle SMEs (demographic change) Emerging markets SMEs (China Brand Association) (snack food) 3,000 20% SMEs BRICS ( ) 53 EIC l Economic Intelligence Center

53. (aging society) SMEs elderly care business - SMEs 54 EIC l Economic Intelligence Center 2 37 : SCB EIC 2009 0.9 1.1 1.7 2.4 20 : % 40-59 60 20-39 : %

54. (health-conscious consumers) 2007 1.4 2012 2.2 54% SMEs SMEs 100% Organic Thailand 2003 (USDA) SMEs fish oil SMEs 2-3 100% 5 global trends SMEs 55 EIC l Economic Intelligence Center

55. SMEs CLMV SMEs AEC SMEs SMEs 98% 85% 10 CLMV 30% 45% 28% SMEs AEC 30,000 5,000 56 EIC l Economic Intelligence Center SMEs ?7 SMEs 38 * SMEs ASEAN SMEs : SCB EIC Economic Research Institute for ASEAN and East Asia (ERIA), (.), IMF, Department of Statistics Malaysia, General Statistics Office Of Vietnam National Institute of Statistics of Cambodia SMEs* (%) SMEs(%CAGR 2000-2007) 99.7 84 37 97.3 59 32 97.0 85 39 95.7 83 N/A 99.9 97 58 99 88 76 28.5 11.9 44.7 28.2 3.3 3.0 21.3 8.3 N/A N/A -1.1 -1.7

56. SMEs SMEs SMEs2007-2011 SMEs 6% 2% 2.6 SMEs SMEs AEC SMEs SMEs CLMV SMEs SMEs SMEs CLMV CLMV non-residential residential SMEs 2012 25-30% 1.5 80% 2012 3 - - 57 EIC l Economic Intelligence Center

57. SMEs SMEs 58 EIC l Economic Intelligence Center CLMV 39 * - ** m3 minimum charge non-residential company 4.8 10 m3 0.6 m3 : SCB EIC CEIC, World Bank, ASEAN Centre for Energy ASEAN Secretariat ( 2011) () 69.5 5 29 0.08 0.5 254 625 750 28.8 4 6 0.07 0.44 297 450 435 242.3 8 45 0.06 0.36 167 644 660 87.8 9 44 0.05 0.3 96 580 670 6.2 7 93 0.07 0.6 75 1,880 2,035 14.3 9 85 0.21 0.4 61 732 872 48.3 N/A 90 0.06 1.05 65 N/A N/A (USD/) (USD/container) (USD/container) () (USD/kWh)* (USD/m3)**

58. CLMV SMEs 26% 2000-2010 20%2005-2010 CLMV SMEs 59 EIC l Economic Intelligence Center SMEs 40 * 2009-2011 2000-2010 : SCB EIC National Institute of Statistics Cambodia Ho Chi Minh City Statistical Office : % CAGR* () () 5% 18% 1% 0% 5% 3% 14% 11% 11% 22% 23% 26% : % CAGR* () () 5% 18% 1% 0% 5% 3% 14% 11% 11% 22% 23% 26% () () : % CAGR*

59. SMEs SMEs partner SMEs SMEs CLMV 40-50% SMEs SMEs (joint venture) 60 EIC l Economic Intelligence Center SMEs 41 : SCB EIC Economic Research Institute for ASEAN and East Asia (ERIA), (.), General Statistics Office Of Vietnam National Institute of Statistics of Cambodia SMEs : % SMEs 18% 21% 23% 8% 4% 13% 26% 1% 50% 40% 15% 41% 4% 6% 6% 2% 8% 8% 5% 1% 16% 8% 22% 46%

60. CLMV SMEs CLMV 18% 24% 2000-2011 1 2012 30%YOY 2012 100% 1.5 CLMV CLMV 1 1,500 1 250 1 5,000 18% 39% 2000-2010 SMEs 61 EIC l Economic Intelligence Center CLMV 42 : * : SCB EIC CEIC 7% 10% 18% 24% 4% 0% 5% 10% 15% 20% 25% 30% 0 5 10 15 20 25 () %CAGR 2000-2011 () : : 248 1,444 1,571 893 2,276 * : :

61. SMEs (value chain) CLMV 10 20% SMEs CLMV SMEsCLMV SMEs CLMV CLMV SMEs (production network) subcontract (MNCs) SMEs 62 EIC l Economic Intelligence Center SMEs 43 : SCB EIC CEIC Enterprise Survey International Finance Corporation : % 92 86 99 92 95 87 95 94 94 85 7 13 4 7 4.7 4 0 3 1 1 0.5 4 0 6 1 2 6 13 SEs MEs SEs MEs SEs MEs SEs MEs SEs MEs 11% 11% 19% 18% 20% 17% : % (CAGR 2000-2010) : % (CAGR) 2000-2011 : %

62. 2012 85% SMEs 30% SMEs joint venture SMEs 1% 2000 8% 2010 63 EIC l Economic Intelligence Center 44 : SCB EIC CEIC General Statistics Office Of Vietnam SMEs : % 36% 20% 3% 4% 11% 7% 6% 13% 5% 7% 8% 8% 31% 41% 2000 2007 ( ) 22% 22% 16% 18% 22% 15% 18% 15% : %CAGR (2000-2010) SMEs : % : %CAGR (2000-2010)

63. SMEs AEC SMEs CLMV Economic Research Institute for ASEAN and East Asia (ERIA) Business Environment and Enterprise Performance Survey World Bank SMEs SMEs CLMV SMEs CLMV 64 EIC l Economic Intelligence Center

64. SMEs CLMV CLMV 10 SMEs (subcontract) 4 (labor-intensive industry) 40% 2.0 8.5 4 (productivity) 4 4 : 65 EIC l Economic Intelligence Center

65. 1. 1 10 2. DoingBusiness (2012) 2 21 652 8152 66 EIC l Economic Intelligence Center 4 4 45 : SCB EIC World Bank 1 2 365 42 2.0 : USD/ 8.4 : GDP 2000 (USD)/ 1,083 4,816 : USD/ : GDP 2000 (USD)/

66. 5 6.5% 67 EIC l Economic Intelligence Center 46 : SCB EIC World Bank : : (x) (8) (21) 652 157 35 183 (4) (4) (x) : :

67. BOX: 1 1 180 (1) 40% (2) 30% (3) 30% 1,000,000 400,000 300,000 300,000 15% 80% 68 EIC l Economic Intelligence Center : SCB EIC 1 2 169 64 180 47 : 400,000 620 180 424,000 95,200 519,200 30,000 300,000 330,000 1,000,000 1,149,200 1 : 180 : 1 1

68. 1 180 400,000 95,200 4 4 800 2 10 69 EIC l Economic Intelligence Center 2 4

69. BOX: SMEs (.) 2012-2013 AEC 70 EIC l Economic Intelligence Center SMEs 48 : SCB EIC SMEs 100 2010 9 8 50 ( 1 / 100 ) (unwind hedging) . money changer/ money transfer agent (nonresident: NR) / NR (underlying) 500 NR (direct loan) NR

70. SMEs SMEs SMEs SMEs SMEs SMEs SMEs 40% SMEs SMEs SMEs SMEs SMEs SMEs SMEs (supplier) SMEs SMEs (labor productivity) AEC SMEs8 71 EIC l Economic Intelligence Center

71. 4D Dirty ( ), Dangerous (), Difficult () Demeaning () () SMEs middle-income trap SMEs 75% SMEs AEC SMEs business matching SMEs (rehabilitation program) 72 EIC l Economic Intelligence Center

72. 12% 8% AEC CLMV SMEs AEC SMEs SMEs SMEs partner business model 73 EIC l Economic Intelligence Center

73. . 2553 Chief Economist (SCB EIC). . (IMF), ING, Booz, Allen, Hamilton . (Kings Scholarship) Harvard University Massachusetts Institute of Technology (MIT) . 20 AsiaSociety2550 10 The Boston Consulting Group A.T. Kearney () Kellogg SchoolofManagement,NorthwesternUniversity 10 7 () University of TexasatArlington . Chief Economist : 74 EIC l Economic Intelligence Center

74. () 7 : Investment Banking J.P.Morgan 2553 Portfolio (Kings Scholarship) Yale University LondonSchoolofEconomics(LSE) . . () Policy Economics, University of Illinois, Urbana-Champaign World Bank London School of Economics AppliedEconomicsandManagementCornellUniversity : . : 7 () : 2551 10 () MBA (AIT) : () : 75 EIC l Economic Intelligence Center

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76. . Chief Economist sutapa.amornvivat@scb.co.th Macroeconomics kasemsook.thaksadipong@scb.co.th . chinnawut.techanuvat@scb.co.th tanakorn.limvittaradol@scb.co.th . phacharaphot.nuntramas@scb.co.th sophon.vijitmethavanich@scb.co.th . athiphat.muthitacharoen@scb.co.th Knowledge Management & Networking . anyarat.boonnithivorakul@scb.co.th napat.srichamorn@scb.co.th wanitcha.nateesuwan@scb.co.th vipasara.arpaskundait@scb.co.th atchara.glinprakod@scb.co.th Sectorial Research teerin.ratanapinyowong@scb.co.th kaweepol.panpheng@scb.co.th kaittisak.kumse@scb.co.th chakramon.nitibhon@scb.co.th jaturon.umpai@scb.co.th chanita.suwanna@scb.co.th chotika.chummee@scb.co.th nutchaya.arakvichanun@scb.co.th tubkwan.homchampa@scb.co.th pranida.syamananda@scb.co.th lalita.thienprasiddhi@scb.co.th vithan.charoenphon@scb.co.th . sivalai.khantachavana@scb.co.th amornrat.kritsophon@scb.co.th alisa.tamprasirt@scb.co.th SCB Economic Intelligence Center () E-mail:eic@scb.co.th : +662 544 2953 77

77. NOTES

78. NOTES