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04/04/2024
04/04/2024
24/04/2024 [Save the date] STCC Multi-Chamber Networking Night
26/04/2024
09/05/2024 [Save the date] GTCC AFTERWORK Briefing with VitalLife Scientific Wellness Center and Networking
24/05/2024
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World Bank cuts Thai growth to 2.8% on weaker exports Thailand's economic growth is expected at 2.8% this year before accelerating to 3.0% in 2025, the World Bank said on Monday, on account of weak exports and a delayed budget. (Bangkok Post, 01/04/2024) More
Thai economy expands slowly in February, helped by tourism, central bank says Thailand's economy expanded slowly in February with growth in the service sector and an increase in tourist arrivals offseting a fall in exports from the previous month, the Bank of Thailand (BOT) said. (Reuters, 29/03/2024) More
Thailand considers adjusting budget to accommodate $13.7 billion handout scheme Thailand's government said its 2025 fiscal budget could be adjusted to accommodate its signature 500 billion baht ($13.71 billion) handout scheme. The "digital wallet" handout plan, a key campaign promise of the ruling party, entails giving 10,000 baht to 50 million Thais to spend in their communities, but has been delayed over funding issues. (Reuters, 29/03/2024) More
Thailand presses case for casinos to boost revenues, tourism and jobs A bill that would legalise casinos in Thailand could be passed in the current government's term, an official said on Friday, as the prime minister backed a move he said would create jobs and revenue and regulate a thriving illicit gaming sector. (Reuters, 29/03/2024) More
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| Technical update in Thailand |
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Wird Thailand zum Produktionshub von E-Fahrzeugen in Südostasien? Thailand ist der größte Hersteller von konventionellen Kfz in Südostasien. Auch bei Elektrofahrzeugen erarbeitet sich der Standort einen Vorsprung. (14/03/2024) Mehr
Thailands Werkzeugmaschinen werden mehrheitlich importiert Der thailändische Markt für Werkzeugmaschinen ist stark abhängig von Einfuhren. Deutsche Maschinen sind zwar angesehen, aber oft zu teuer. Platzhirsche sind japanische Modelle. (01/03/2024) Mehr
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GTCC MULTI-CHAMBER EASTERN SEABOARD BRIEFING & NETWORKING |
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| Companies & Industrial Sectors |
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Developers expect govt stimulus for property market by mid-April Leading property developers say they are confident the government will announce stimulus measures to boost housing sales before the Songkran holiday, or April 13. (The Nation, 01/04/2024) More
Toyota well ahead of competitors in orders for cars at motor show Orders were placed for more than 10,000 cars and motorcycles during the first five days of the 45th Bangkok International Motor Show. Of the total 10,589 orders on the first five days, 9,462 were for cars and 1,127 for motorcycles. Despite the strong trend of EV cars, Japanese carmaker Toyota secured orders for 1,802 cars, followed way behind by Chinese brand MG with 871 orders. (The Nation, 31/03/2024) More
Airline projects robust revenue Bangkok Airways projects 20% growth this year in passenger revenue as demand revives and the company adjusts its pricing strategy, with forward bookings robust for Songkran and the second quarter. (Bangkok Post, 31/03/2024) More Sony Group starts operations at a new semiconductor fab in Thailand Sony Group has started operations at a new semiconductor fab in Thailand to boost production of automotive image sensors for driver-assistance systems. (ThailandBusinessNews, 29/03/2024) More
Minimum wage hike sparks debate in Thailand’s hospitality sector The recent decision by the 22nd Wage Committee to increase the minimum wage to 400 baht per day for employees in 4-star hotels and above in ten provinces renowned for their tourism revenue has sparked debate within Thailand’s hotel sector. (Pattaya Mail, 30/03/2024) More Deteriorating air quality impacting tourism in Chiang Mai Chiang Mai continues to be ensnared in a crisis as thick smoke haze blankets the region, significantly reducing visibility and posing health hazards to residents. The situation remains dire, with the city’s skyline obscured by smoke, making it impossible to see buildings and homes even from vantage points atop Doi Suthep. (Pattaya Mail, 01/04/2024) More UOB, Alibaba.com to boost SMEs in B2B e-commerce expansion UOB Thailand has partnered with Alibaba.com, one of the world’s largest wholesale marketplaces, to support Thai small and medium-sized enterprises (SMEs) in their e-commerce endeavours. (The Nation, 20/03/2024) More
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GTCC BUSINESS & STUDY TRIP TO GERMANY |
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EV maker VinFast signs partnership agreements with 15 dealers in Thailand Vietnamese electric vehicle maker VinFast said on Wednesday that it had signed partnership agreements with 15 dealers in Thailand, its latest effort to expand in Southeast Asia and tap growing demand in the region. (Reuters, 27/03/2024) More Thailand, China, and Laos forge new routes Thailand is in talks with China and Laos to revolutionise their airspace, with Aeronautical Radio of Thailand Co Ltd (Aerothai) president Nopasit Chakpitak revealing plans to accommodate a staggering 100,000 more flights. (Thaiger, 30/03/2024) More Thai land bridge project shaking ground for shippers While the country’s trade outlook for 2024 indicates exports are expected to rebound by 4.3% year-on-year from a decline of 8% in 2023, Thailand’s Chumphon-Ranong Land Bridge megaproject has sent shudders among supply chain experts who fear its impact on the future of Malaysian sea exports. (The Sun, 28/03/2024) More
Malaysia mulls expanding rail project towards Thai border To outmanoeuvre economic rivalry with Thailand, Malaysia is contemplating extending its mammoth rail project closer to its northern neighbour, sparking debates over prosperity or peril. (Thaiger, 27/03/2024) More
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RATCH fosters renewables business in Australia RATCH Group PCL has reported to SET that its wholly-owned subsidiary in Australia, RATCH-Australia Corporation Limited, has finalized a 10-year private power purchase agreement with ZEN Energy Retail Pty Limited, a prominent electricity retailer in Australia. (The Nation, 29/03/2024) More
Toyota to mass-produce Hilux EV by 2025 Toyota plans to mass-produce a battery-electric Hilux pickup truck by the end of 2025, the president of its Thailand unit said. (Bangkok Post, 26/03/2024) More New plant in Thailand to help Delta Electric double parts output for EVs Delta Electric has doubled its capacity to manufacture components and parts for electric vehicles (EV) with the opening of a new plant in Thailand. The new production facility at the Bangpoo industrial estate, known as Delta Plant 8, produces all of the electronics control parts required to drive an EV, including combined control units, EV charging controllers, and DCDC converters. (The Nation, 22/03/2024) More |
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Thailand's Central Group wants to acquire Signa retail assets, report says Thai retailer Central Group wants to take over some real estate assets from insolvent Austrian property company Signa, including KaDeWe in Germany and Selfridges in London, Business Insider reported. (Reuters, 30/03/2024) More
Thailand keen to join the chip frenzy Thailand wants to attract more foreign investment to produce advanced semiconductors this year, according to the Board of Investment (BoI). (Bangkok Post, 29/03/2024) More Thailand offers tax waiver to attract 'world-class events' Thailand announced a tax waiver for organisers of large international concerts, sporting events, and festivals to try to attract big events and position itself as a regional tourism hub. The Board of Investment will grant organisers of large international events requiring an investment of at least 100 million baht ($2.74 million), an import duty exemption on equipment and facilitate the temporary entry of required foreign staff. (Reuters, 28/03/2024) More BOI Targets Major Post-Roadshow Investments The Board of Investment (BOI) anticipates a substantial influx of investments totaling 558 billion baht into Thailand, spurred by Prime Minister Srettha Thavisin's promotional tours across 14 countries. Sectors expected to benefit from this include digital technology, electric vehicles (EVs), electronics and semiconductors, and logistics. (NNT, 27/03/2024) More
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| Legal / HR / CSR / Education / Health |
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Cabinet green lights bills to modify alcohol control law The Cabinet has given initial approval to five proposed bills aiming to modify the current alcohol control law, a move that could potentially lead to extended selling hours and more relaxed advertising rules. (Thaiger, 29/03/2024) More
Thailand’s lower house passes bill to legalize same-sex marriage Thailand’s House of Representatives voted to legalize same-sex marriage on Wednesday, bringing the Southeast Asian nation a step closer to becoming the third territory in Asia to guarantee equal marital rights. If passed into law, Thailand would be the first nation in Southeast Asia to legally recognize same-sex marriage. (CNN, 27/03/2024) More
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QSNCC Earns Thailand MICE Venue Standard Certification Queen Sirikit National Convention Center (QSNCC) has earned the certification of “Thailand MICE Venue Standard (TMVS) 2023” for its meeting rooms, exhibition halls and special event venues. More Oryx Stainless (Thailand) published the study on Stainless Steel Circular Economy Increased recycling of stainless steel can make a noticeable contribution to mitigate climate change in Thailand and globally. This is the result of a recent joint study by a number of prestigious Thai and German scientists, on behalf of Oryx Stainless (Thailand) Co., Ltd. More
Wah Lok at Carlton Hotel Bangkok Sukhumvit featured in MICHELIN Guide for 2024 This marks the third consecutive year of being recognized by MICHELIN, a testament to the consistency of the excellent dining experiences they continue to deliver to their guests. More
“Tagesschau.de – Interview; The NEW Tax Regime in Thailand on Foreign Income” In Thailand lässt es sich für relativ wenig Geld sehr gut leben. Viele Rentner aus Deutschland wollen dort ihren Lebensabend verbringen. Jetzt sorgen neue Steuervorschriften für Unruhe. More
GTCC members' promotions Check out GTCC members' special offers on accommodation, restaurant / food delivery, and other services. More |
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Chamber Representatives Phaisal Sirisinsuk Orawan T-sriwong
Chamber Representative Alexander Christian Holl |
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Mr. Robert Peter Kerr
Chamber Representatives Victoria Riviere Gaspard Lemoine-Scelles |
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Messe-Insights The AUMA exhibitor outlook for 2024/2025, based on a comprehensive survey of 400 exhibiting companies, provides valuable insights into the industry's trajectory. Conducted by Bonsai Research, the study reflects the perspectives of top-level marketing/trade fair executives, offering a unique and thorough analysis of the German-speaking trade fair landscape. (Report only available in German, HERE ) |
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German companies show optimism in Asia Pacific for 2024 Business situation good, business expectations even better – this is what local companies are telling their bi-lateral German Chambers of Commerce abroad (AHKs) in almost all locations in the Asia Pacific region. Companies in India are particularly positive. This is according to the new AHK Asia Pacific Business Outlook. In September and October 2023 more than 800 AHK member companies were surveyed on their business prospects. (DIHK, 15/01/2024) More |
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Position Paper: Why German Businesses support an EU-ASEAN FTA This comprehensive position paper underscore the significance of the proposed FTA. The agreement would incentive investments and facilitate the diversification of supply chains and customer bases. As a result, business in the EU and ASEAN can mitigate their reliance on a single market, thus fostering greater resilience and stability. The survey was conducted by the Singaporean-German Chamber of Industry and Commerce in June 2023 and gathered data from 169 member companies of German Chambers located in ASEAN. More |
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AHK World Business Outlook 2023 (ASEAN Focus) The 2023 survey has been complemented by the German Chambers of Commerce Abroad (AHKs) in the ASEAN region between 20 March and 16 April 2023, in order to derive more insights from the regional business climate. AHK offices are present in seven of the 10 ASEAN member states: Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, also coordinating activities in Myanmar, Cambodia and Laos. More |
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APK 2024: 18th Asia-Pacific Conference of German Business 24-26 October 2024
The Asia-Pacific Conference of German Business (APK) is the flagship event for business leaders, executives and political representatives to discuss and promote economic relations between Germany and Asia-Pacific. Sponsoring the APK 2024 in New Delhi, India, gives you the opportunity to place your business right into the spotlight and to raise brand awareness. More |
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Chadaphan Maliphan
Publication and Communication Manager |
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