business groups built on the basis of family ownership have been a crucial agent both for economic growth and the upgrading of Thailand's industrial structure.
Alter the Government accelerated liberalization of the financial sector and industrial investment towards the end of the 1980s, these business groups speedily responded to new policies and activity expanded their business bases from agro-industry and traditional export-oriented industries,such as textiles and garment, to new growing industries such as telecommunications, petrochemicals, steel and machinery,and modern retail business.