The AEC was created to gain potential benefits from creating a single market (Plummer, 2006). As the AEC's road map includes a significant milestone in December 2015, understanding the views of some of the SET50 companies from Thailand adds a perspective on the work that has been done to date and that required in the future.
Large Thai firms are aware of the AEC, but most of them do not have specific strategies for the AEC. Some of these firms have already entered ASEAN markets while some of them look further beyond the AEC. It seems that most executives in large Thai firms perceive the AEC as an opportunity for companies rather than a threat. However, they also believe that more in-depth AEC integration is required in order to fully utilize its benefits.
Firms in different industries seem to look at the AEC from a different point of view. For example, firms in the financial industry seem to support the AEC as long as it does not go too far, for example, adopting a single currency. Firms in the oil and gas business seem more ready for AEC integration than firms in other industries. Firms in the property sector are more concerned about protectionist laws on land ownership in ASEAN countries, limiting cross-border property development to local, indigenous companies.
In conclusion, although the AEC has targeted implementation by the end of 2015, its current form only suits government to government and state-owned to state-owned businesses. It is the start of a journey and a comprehensive roadmap for the removal of regulations. A significant amount of work is left to be done in terms of the free flow of capital, labor, and services in order to satisfy the business community at the large corporate level.