Despite unclear political prospects, Anglo-Dutch consumer goods maker Unilever Thai Trading Co is committed to continuing its heavy investment in the Thai market this year.
Robert Candelino, chief executive of Unilever Thai Group of Companies, said the group will maintain local investment, including for the digital economy, marketing activities and new product development.
"We don't have any policy to withdraw our investment from Thailand, as indicated by our launches of new natural products and capsule detergents," Mr Candelino said. "These new products require investment. It is a risk, but we have tried to sustain our growth in the long term."
He did not disclose investment figures.
The fast-moving consumer goods (FMCG) segment was valued at 800 billion baht in 2018, trying to parallel rapid technological and lifestyle changes.
Consumers are looking for a healthier lifestyle and possess sustainability awareness. Their access to product choices is changing to making more online purchases via mobile and e-commerce platforms, Mr Candelino said.
"We expect a very good year this year, making a bigger footprint and a real impact in the FMCG industry," he said. The company has redefined its goal to be a "purpose-led, future-fit" company, standing firm and surviving business challenges in any market circumstances.
Mr Candelino said business in the first five months of this year was better than expected. Unilever believes its sales growth will surpass Thailand's GDP growth this year.
The Commerce Ministry reported that sales of Unilever in Thailand reached 41 billion baht in 2018 with a net profit of 2.32 billion.
Mr Candelino said the company will focus on sustainability and health-related issues such as environmental and water problems.
Unilever is committed to reducing plastic waste by promoting awareness of plastic waste reduction and moving towards using recyclable, reusable and compostable plastic packaging for Unilever products.
"Within 2025, 100% of Unilever products worldwide will be in recyclable, reusable and compostable plastic packaging," Mr Candelino said.
Unilever is the market leader in seven product segments: laundry detergent, haircare, skin cleansing, body care, rice porridge, ice cream and dishwashing soap.
