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7 March 2022
 
Upcoming events
 
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MAZARS IN THAILAND
 
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HANSEN BECK
 
Economy
State advised to address the rising cost of living
Retailers are calling on the government to speed up budget disbursement and state spending, cap energy prices for as long as possible as well as continue consumption stimulus measures to boost consumer spending.(Bangkok Post, 02/03/2022) More 

Fiscal and monetary policy to help ensure full recovery in 2024
The Ministry of Finance has said the nation’s fiscal and monetary policy are still operating together to achieve 4% economic growth this year and ensure a full economic recovery. (NNT, 28/02/2022) More

Ministry mulls options for diesel
The Ukraine-Russia conflict has led to rising global oil prices, raising concerns the Finance Ministry will have to inject additional funds to keep the retail price of diesel below 30 baht a litre, says a ministry source who requested anonymity.(Bangkok Post, 28/02/2022) More 

Russia-Ukraine conflict bodes ill for Thailand, say FTI, shippers
Higher inflation and a sluggish economy are looming this year following the Russian invasion of Ukraine, says the Federation of Thai Industries (FTI).(Bangkok Post, 28/02/2022) More 

Media spending set to grow 12.8% this year
Media spending is expected to rebound to growth of 12.8% in 2022 as people are getting back to normal life after two years of the pandemic, says Media Intelligence Group (MI).(Bangkok Post, 24/02/2022) More 

Thailand presses on with IP measures
Thailand vows to move ahead with plans to tackle intellectual property (IP) infringements even as the US recently announced it will exclude Thailand from its Notorious Markets List both for physical and online markets. (Bangkok Post, 24/02/2022) More 

Recovery lures foreign fund inflows
Thailand's bullish economic recovery is attracting high volumes of foreign fund inflows into Thai bonds and stocks, pushing the baht to a seven-month high, making it the strongest currency in Asia year-to-date. (Bangkok Post, 22/02/2022) More 
 
Economic Factsheet
UPDATE Magazine
Legal services: Mazars in Thailand
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GTAI
Markets Germany Newsletter (GTAI, February 2022) More 

China erobert Thailands Märkte
Ein Viertel der Importe stammt inzwischen aus China. Westliche Länder und Japan verlieren Marktanteile.(GTAI, 18/02/2022) Mehr
 
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GTCC BUSINESS WOMEN NETWORKING "VOICE IT OUT" 
 
Companies & Industrial Sectors
Bitkub funds Loremboard for BKC Port
Bitkub Ventures, a subsidiary of Bitkub Capital Holding Group, is investing in Loremboard, a digital asset portfolio platform, to develop BKC Port, a data analytics tool on Bitkub Chain to help customers manage portfolios. (Bangkok Post, 05/03/2022) More

Delivery service sector rises
The Department of Business Development (DBD) has revealed that the document and parcel delivery service sector grew exponentially in 2021 from 2020. The department attributed the success to the rise in popularity of online shopping. The segment saw 560 new businesses registered in 2021, more than 200% from 2020. (NNT, 04/03/2022) More
 
True unveils all-in-one healthcare app
True Digital Group, a subsidiary of telecom operator True Corporation Plc, has introduced an all-in-one smart healthcare platform linking online and offline health services through an upgraded version of the MorDee mobile app.(Bangkok Post, 03/03/2022) More 

Sansiri banking on lower-end condos
Sansiri Plc will launch lower-end condo projects for sale a month before construction is completed and work with banks to ensure the transfer of units with lower mortgage loan rejections.(Bangkok Post, 10/03/2022) More 
 
GLAND, Huawei to advance innovation
Grand Canal Land Plc (GLAND) and Huawei Technologies (Thailand) Co have signed a memorandum of agreement (MoA) on a strategic partnership to develop a world-class smart city of the future. (Bangkok Post, 25/02/2022) More 

Thai Lion Air to launch new hub at Suvarnabhumi
Thai Lion Air (TLA) intends to launch a new hub for international flights from Suvarnabhumi airport, with the first route to Jakarta set to launch before Songkran and the introduction of other overseas destinations by the end of the second quarter. (Bangkok Post, 25/02/2022) More 

CPN launches B120bn expansion drive
Central Pattana Plc (CPN) plans to invest 120 billion baht from 2022-2026 to expand its business. (Bangkok Post, 23/02/2022) More 

New company to push Utapao plan
The Eastern Economic Corridor (EEC) Policy Committee has approved the setting up of a new company to expedite the development of U-tapao airport.(Bangkok Post, 22/02/2022) More 

AirAsia prepares regional routes to spur intra-Asean travel
AirAsia aims to spur intra-Asean travel with new regional routes, while Thai AirAsia hopes the Red War football match in July will drive demand from neighbours to Thailand. (Bangkok Post, 22/02/2022) More 
 
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GTCC MEMBERS EXCLUSIVE SITE VISIT TO BROSE (THAILAND)
 
Thailand & ASEAN
Banpu adds to green energy portfolio
Banpu Plc paid US$14.5 million for a stake in Solar Esco Joint Stock Co, a Vietnam-based rooftop solar panel provider, as it continues to expand its renewable energy business.(Bangkok Post, 05/03/2022) More 

Prayut, Ismail set $30bn trade target
Thailand and Malaysia have agreed to target bilateral trade of US$30 billion (973.5 billion baht) by 2025.(Bangkok Post, 26/02/2022) More 
 
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THAI-GERMAN TECHNOLOGY CONFERENCE
 
Green Technology
Tesla Gets Approval to Start EV Production in Germany
Tesla Inc. has secured local approvals in Germany to formally begin electric-vehicle productions at its new plant outside Berlin, a key pillar of chief executive Elon Musk's push to rapidly boost output and sales.(Bangkok Post, 07/03/2022) More 

EVLOMO preps charging station network
US-based EVLOMO Technologies Co will start expanding a network of electric vehicle (EV) super-fast charging stations countrywide this year after securing an investment budget worth US$210 million (around 6.7 billion baht).(Bangkok Post, 22/02/2022) More 

EV market powers up
Six million electric vehicles (battery electric and plug-in hybrid) will be shipped in 2022, up from 4 million in 2021, according to a new forecast by Gartner Inc. (Bangkok Post, 22/02/2022) More 
 
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Visiting HANNOVER MESSE 2022 and Exclusive Site Visits: 27 May - 05 June, 2022
 
Bilateral Business
Thailand saw six-year high in FTA requests among exporters in 2021
The Department of Foreign Trade (DFT) is helping Thai exporters to minimize taxes and tariffs, after the Kingdom saw a surge in the number of free trade agreement (FTA) applications from local businesses in 2021. (NNT, 05/03/2022) More
 
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GTCC ORDINARY GENERAL MEETING 2022
 
Legal / HR / CSR / Education
ETDA preps courses for digital era
The Electronic Transactions Development Agency (ETDA) is set to provide six major digital training courses from March to help organisations learn necessary skills to prepare them for the digital era. (Bangkok Post, 26/02/2022) More 

Cabinet pushes through EV customs and excise duty cuts
The cabinet approved a package of customs duty and excise tax measures to promote the electric vehicle (EV) industry and reduce carbon monoxide emissions. (Bangkok Post, 23/02/2022) More 

Long-stay visa to waive personal income tax
The cabinet has approved waiving personal income tax for three foreign groups of taxpayers: high-income earners, retirees and those who want to work remotely from Thailand, said Finance Minister Arkhom Termpittayapaisith. (Bangkok Post, 22/02/2022) More 
 
Important update on Covid-19
Medical reimbursements change under new rules
The National Health Security Office (NHSO) has adjusted reimbursement claims for Covid-19 outpatients with mild symptoms following the Department of Medical Services' decision to adopt new treatment guidelines. (Bangkok Post, 07/03/2022) More

Positive sentiment predicted for SongKran fest
Tourism operators expect improving domestic sentiment for the upcoming Songkran holiday despite a sagging economy and virus outbreak that continue to derail growth in the sector. (Bangkok Post, 07/03/2022) More 
 
Call to scrap PCR tests Thailand Pass
Hoteliers want to scrap the RT-PCR testing requirement along with the Thailand Pass because the Russian invasion of Ukraine has darkened the tourism outlook to such an extent that the industry might attract only 10% of the pre-pandemic arrival numbers. (Bangkok Post, 02/03/2022) More 

For more updates, please follow us on Facebooktwitter, LinkedIn and website
 
GTCC News
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GTCC's 60th Anniversary: Our 60 facts #4
Diplomatic relations between the member states of the German Customs Union and the Kingdom of Siam were established in 1862 with the signing of the Treaty of Friendship, Trade and Shipping by Count Friedrich zu Eulenburg (In the picture) and King Mongkut. It took another 100 years until the Thai-German Chamber of Commerce was founded in 1962. The name was changed to German-Thai Chamber of Commerce in 1968.
 
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GTCC Clean Air Initiative (GTCC CAI)
GTCC has launched the “GTCC Clean Air Initiative Series – Green Solutions from Germany" in which GTCC member companies will introduce and promote their technologies, concepts and services regarding the prevention and reduction of air pollution for the markets in Thailand and the Southeast Asia region. The participating companies will also share their suggestions regarding the regulatory framework in Thailand. For details and updates on GTCC CAI, visit GTCC CAI webpage. 
 
Member News
IVL reports 55% surge in Ebitda thanks to tailwinds
Indorama Ventures Plc (IVL), a global chemical producer, reported US$1.74 billion in earnings before interest, taxes, depreciation and amortisation (Ebitda) for the 2021 financial year, an increase of 55% year-on-year.(Bangkok Post,03/03/2022) More 

Bumrungrad unveils healthcare technology
Bumrungrad Hospital announces its vision to be the leader of smart healthcare 5.0 technology, aiming to provide holistic medical care to all patients.(Bangkok Post, 28/02/2022) More 

Electricity sales boost BGRIM revenue
B.Grimm Power Plc (BGRIM) reported revenue growth for the 2021 financial year of 5.8%, a tally of 46.6 billion baht, citing a boost from stronger electricity sales.(Bangkok Post, 26/02/2022) More 

Allianz Ayudhya posts 30% uptick in new business
Allianz Ayudhya Assurance reported a 30% increase in new business value and 4% growth in new business sales for 2021. (Bangkok Post, 25/02/2022) More 

ARBURG Webinar: Plastic Application for Packaging
10 March 2022, 2.30 pm - 4.30 pm (TH time). ARBURG together with ExxonMobil Chemical will share you the economic advantages of Cube technology, How advanced recycling can address mixed PP plastic wasted problem at scale. More

Hansen Beck: Success & Positive Influence
An exciting free 3-hour Hansen Beck learning experience awaits you, designed for managers and other professionals who wish to walk away with practical tips and actions that increase their influence and impact with others. Join the event on 15 March 2022, from 17.00 - 20.30 hrs. More

GTCC members' promotions 
Check out GTCC members' special offers on accommodation, restaurant / food delivery, and other services. More
 
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Exclusive offer: 
25% off on Sunday Jazzy Brunch
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Condition: 
Present GTCC member card upon arrival

 
Trade Fairs
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New coronavirus ordinance clears way for trade fairs in Lower Saxony
A new coronavirus ordinance clears the way for trade fairs in the German state of Lower Saxony. Deutsche Messe's trade fair year in Hannover kicks off in May with the Real Estate Arena and the micromobility expo. This will be followed in June by HANNOVER MESSE and the INTERSCHUTZ trade fair for firefighters and fire protection. More
 
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BIOFACH and VIVANESS 2022: An optimistic organic food and natural and organic cosmetics sector eagerly awaits reuniting in July 2022
In 2022, BIOFACH and VIVANESS will take place as a ‘summer edition’ from 26 – 29 July.Danila Brunner, Director Exhibitions BIOFACH and VIVANESS at NürnbergMesse, explains what that means, what opportunities it offers, and what exhibitors, visitors and the media can look forward to at this one-time summer edition. More
 
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INHORGENTA MUNICH postponed to 8-11 April 2022
INHORGENTA MUNICH, Europe’s leading platform for jewelry, timepieces and gemstones, is the order and communications platform for the industry and reflects the market in all its diversity. It provides a unique combination of individuality, inspiration, and innovation. It offers an in-depth overview of international trends and developments. See detailed information HERE.
 
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Exhibitors and visitors at trade fairs can enter Germany
Trade fair participants from abroad can enter Germany, if they provide proof of vaccination, recovery or a negative test upon entry. As of March 3, 2022 Germany no longer qualifies any countries as risk areas. Consequently all quarantine and registration obligations no longer apply. More
 
Other news
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EABC 2022 European Business Position paper
The digital edition of 2022 European Business Position Paper is available for download free of charge. The paper reflects the shared efforts from European business leaders in Thailand, from a broad range of industries and pan-economic policy areas, to provide practical recommendations, through 12 working groups, for Thailand to become a more competitive and sustainable economy. Here
 
Contact Person
Chadaphan Maliphan

Publication and Communication Manager
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GTCC Privacy Policy
In compliance with the EU General Data Protection Regulation (GDPR), please be informed that your personal data (name and contact details) is being stored and used by us to send you our newsletter, invitations to our events and invitations to participate in surveys. We confirm that we will not share your personal data with any other organisation and that you can withdraw your consent at any time by contacting us by email <communications@gtcc.org>. For more information please see our website for our Data Protection Policy.
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