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2 May 2023
 
Upcoming events
 
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MAZARS IN THAILAND
 
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LUFTHANSA GROUP
 
Economy
Targeted approach utilised for aid
The Finance Ministry has continued to maintain its targeted fiscal policy, including the provision of financial aid directly to specific groups, helping the country save on budget spending. (Bangkok Post, 2/5/2023) More
 
Consumers hold recession fears at bay
Heightened worries about the strength of consumers and the global economy have been put on hold -- at least for now -- after some of the world's best-known companies delivered a slew of better-than expected numbers. (Bangkok Post, 29/4/2023) More
 
BoT sees strong GDP growth in Q1
The Bank of Thailand (BoT) believes gross domestic product (GDP) growth in the first quarter should beat the previous quarter thanks to continued recovery supported by private consumption and tourism. (Bangkok Post, 29/4/2023) More

Factory output falls 4.56%, worse than forecast
Thailand's manufacturing production index (MPI) in March contracted 4.56% from a year earlier, as a global economic slowdown hurt exports(Bangkok Post, 28/4/2023) More

Survey finds household debt rising
Average household debt for workers has hit the highest level in 14 years, attributed to durable goods purchases, investment to create income and daily expenses. (Bangkok Post, 28/4/2023) More

Government revenue exceeds target in first six months of fiscal 2023
Government revenue collection in the first six months of fiscal 2023 (October to March) surpassed the target by 8.9%. (The Nation Thailand, 27/4/2023) More

Exports value dips for sixth month in a row
Though Thai exports fell for a sixth consecutive month in March and the global economy remains sluggish, the Commerce Ministry remains confident shipments can meet the growth target of 1-2% this year. (Bangkok Post, 27/4/2023) More

Thailand’s unemployment rate drops below 1% for first time in 4 years
Thailand’s unemployment rate at the end of February dropped below 1% for the first time in four years, which is a sign that the economy is improving. (The Nation Thailand, 23/4/2023) More
 
Economic Factsheet
UPDATE Magazine
Payment of stamp duty for electronic instruments
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GTAI
Neue Infrastruktur stärkt Thailands Wirtschaftsader
Chinesische Unternehmen sind beim Infrastrukturbau in Thailands Eastern Economic Corridor (EEC) wesentlich beteiligt. Doch bei der Finanzierung möchte das Land unabhängig bleiben. (Marcus Hernig, 28/4/2023) More
 
Thailand will seine Führungsposition als Kfz-Standort behaupten
Thailand ist der größte Hersteller von Kfz in Südostasien. Konventionelle Pkw und Pick-ups sind die wichtigsten Standbeine. Elektrofahrzeuge rücken stärker in den Fokus. (Thomas Hundt, 27/4/2023) More
 
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GTCC AFTERWORK - MAY
 
Companies & Industrial Sectors
More Thais turn to online gold purchases
The value of gold savings owned by Thais on online platforms rose 60-70% in the first quarter of 2023 from a year earlier as global prices rose by more than 8% during the period, while domestic gold prices hit a record. (Bangkok Post, 2/5/2023) More

BoT zeroes in on cash transaction fees
The adjustment is part of central bank efforts to promote digital payments and move towards a less cash-reliant society. The regulator is paying greater attention to some consumer segments that do not use digital payments. (Bangkok Post, 2/5/2023) More

Thai M&A set to surge
Thailand's merger and acquisition (M&A) volume and value should improve in the second half of 2023 after many businesses paused M&A activities because of economic conditions, inflation and geopolitical risks. (Bangkok Post, 2/5/2023) More

PTA hails China roadshow
A tourism promotion roadshow in China is expected to bring at least 1.5 million Chinese travellers back to the resort island of Phuket and generate 30 billion baht(Bangkok Post, 30/4/2023) More

Power bills set to fall for rest of 2023
Electricity bills are likely to decline during the last four months of this year, with the power tariff expected to reach 4.30 or 4.40 baht per kilowatt-hour (unit)(Bangkok Post 28/4/2023) More

Thailand remains second-largest exporter of of air cons as sales grow 9%
Thailand’s exported air-conditioners worth US$7.044 billion (240 billion baht) last year, up 9% over 2022. (The Nation Thailand, 27/4/2023) More

L'Oréal unit expects beauty market to grow by 10- 20%
Thailand's beauty market is expected to grow between 10-20% this year after a significant drop during the Covid-19 pandemic(Bangkok Post, 26/4/2023) More

Water charges set to rise
The metropolitan and provincial waterworks authorities are both preparing to raise the price of tap water, citing higher capital costs. (Bangkok Post 24/4/2023) More
 
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GTCC GALA NIGHT 2023
 
Thailand & ASEAN
Asean countries to meet over haze
Malaysia will be meeting its regional neighbours to discuss the transboundary haze, especially as the El Nino phenomenon is expected to herald hotter and drier weather in the middle of the year. (The Star, 1/5/2023) More

From Thailand to Indonesia, ASEAN leads cloud market growth
BANGKOK -- Southeast Asia is leading the global growth in cloud infrastructure, as foreign cloud service providers and data center operators invest billions of dollars to create new hubs in emerging economies like Thailand, Indonesia and Malaysia. (NikkeiAsia, 29/3/2023) More
 
Green Technology
Egat to spend B300bn on solar development
The Electricity Generating Authority of Thailand (Egat) aims to increase its power generation capacity from floating solar farms at its nine hydropower plants to 10 gigawatts by 2037, with investment of almost 300 billion baht. (Bangkok Post, 2/5/2023) More

Executives fret over greenwashing
More than half of executives surveyed in Thailand admitted their organisations have overstated or inaccurately represented the impact of their sustainability initiatives, which could potentially stall progress on sustainability. (Bangkok Post, 2/5/2023) More
 
Bilateral Business
Bangkok selected to host the IMF-World Bank joint meeting in 2026
Thailand will also host the annual meetings of the boards of governors of the World Bank Group and the IMF in 2026. The joint meeting is expected to draw about 12,000 people from around the globe. (The Nation Thailand, 20/4/2023) More

From Thailand to Indonesia, ASEAN leads cloud market growth
BANGKOK -- Southeast Asia is leading the global growth in cloud infrastructure, as foreign cloud service providers and data center operators invest billions of dollars to create new hubs in emerging economies like Thailand, Indonesia and Malaysia. (Nikkei Asia, 29/3/2023) More
 
Legal / HR / CSR / Education / Health
Parties announce IT pitches to the public
Political parties' campaign platforms concerning IT policies should focus more on human resource development, equipping people with future skills and gearing the country for a digital economy in order to generate more jobs. (Bangkok Post, 1/5/2023) More

Working our way back to health
Policies to improve the daily minimum wage for rural workers are hotly debated in the run-up to every election, with this year no exception ahead of the country's first general election in four years on May 14. (Bangkok Post, 1/5/2023) More

'No gift' campaign launched
The National Anti-Corruption Commission (NACC) has urged the private sector not to offer bribes to government officers and advised them to impose internal measures to curb the illegal practice. (Bangkok Post, 29/4/2023) More
 
Member News
Bangkok Marriott Marquis Queen’s Park and AWC bring Thailand’s rich culinary traditions to the Chao Phraya River
Bangkok Marriott Marquis Queen’s Park and Asset World Corp Public Company Limited (AWC) have announced the opening of The Siam Tea Room, a unique new restaurant, bakery and café at Asiatique. More

GTCC members' promotions 
Check out GTCC members' special offers on accommodation, restaurant / food delivery, and other services. More
 
New Members
Chamber Representative
Stephan Seidel

Chamber Representative
Chutinun Rattanapornsinchai

Chamber Representatives
Matthias Hoffrichter
Sebastien Leblond
Chamber Representatives
Patrick Corpataux 
Julien Goeb

Chamber Representatives
Robert Stadler 
Lukasz Myszkowski

Mr. Martin Trautmann
 
Trade Fairs
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digitalBAU
4-6 July 2023, Munich, Germany
 
digitalBAU 2023 is the trade fair and conference for digital solutions in the construction industry. It addresses the digital transformation in the construction industry and encompasses the entire value and process chain of construction, from planning and construction to the operation and management of buildings, cities and landscapes. More
 
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 LIGNA 2023
15-19 May 2023, Hannover, Germany

Over 105,000 square meters of exhibition space and more than 1,100 exhibitors: LIGNA 2023 celebrates its return to presence with a comprehensive overview of the woodworking and wood processing industry. The positive booking status confirms LIGNA's status as the world's leading trade show. More
 
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automatica
27-30 June 2023, Munich, Germany

As the leading exhibition for smart automation and robotics, automatica features the world’s largest range of industrial and service robotics, assembly solutions, machine vision systems and components. More
 
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German Trade fairs take off powerfully
Since January, more than 50 trade fairs have taken place in Germany, more than 60 are still planned until the end of March. Among them outstanding shows such as the travel fair ITB in Berlin, the world's leading trade fair for water, heat and air ISH in Frankfurt and the International Dental Show IDS in Cologne. The latter will celebrate 100 years of existence this March. More
 
AHK network news
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ASEAN Insights 2023
ASEAN-Insights on the 16th of May 2023 in Munich, Germany offers an overview of current economic developments and trends of the region. More
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ASEAN Snapshot 2023
The German Chambers ASEAN Business Council (GCABC), as a #PartnerInASEAN, is pleased to introduce to the fifth edition of the ASEAN Snapshot booklet with a variety of up-to-date charts and infographics about ASEAN economic developments, ranging from demographic, economics, trade and investment information. More
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Asien - Geschenke über die Grenze
Anbei erhalten Sie einen Überblick über die Zollbestimmungen von Geschenken an Geschäftspartner in asiatischen Staaten. Informationen und Hinweise zu den kulturellen Besonderheiten sind ebenfalls abrufbar. Meh
 
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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