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FORVIS MAZARS IN THAILAND |
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Inflation in Q3 expected to be low Headline inflation in the third quarter is expected to be low, similar to the previous quarter, while it is likely to increase to 1% in the fourth quarter, aligning with the inflation target for the full year. (Bangkok Post, 06/07/2024) More
BoT views household debt trend as easing The Bank of Thailand anticipates a further decline in the country's household debt-to-GDP ratio, supported by the Thai economic recovery and slower loan growth. (Bangkok Post, 06/07/2024) More
Fuel consumption decreases 0.4% Thailand's total fuel consumption dipped by 0.4% year-on-year to 157.1 million litres per day (MLD) between January and May, attributed to higher energy prices and the country's economic slowdown, says the Department of Energy Business. (Bangkok Post, 05/07/2024) More
Country’s growth potential declining, says BoT chief The country’s economic growth potential is expected to hover around the three-percent mark for the next five years, a decline from the average of closer to 3.5% reported in the years before the Covid-19 pandemic, according to Bank of Thailand governor Sethaput Suthiwartnarueput. (Bangkok Post, 04/07/2024) More
World Bank cuts Thai outlook to 2.4% on weaker exports Thailand's economy is expected to grow 2.4% this year, down from the 2.8% expansion projected in April, largely due to weaker-than-expected exports and public investment early in the year, the World Bank said. (Bangkok Post, 03/07/2024) More
Shippers expect growth of 1-2% Despite geopolitical tensions in Europe and the Middle East, the Thai National Shippers' Council (TNSC) expects the value of exports to expand by 1-2% in the second half this year. (Bangkok Post, 03/07/2024) More
Cabinet approves additional B276bn in borrowing The cabinet has approved an additional 276 billion baht in borrowing for the 2024 fiscal 2024, of which 269 billion is for direct government use as well as funds for state enterprises to restructure debt. (Bangkok Post, 02/07/2024) More
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Pkw-Verkäufe in Thailand und Indonesien brechen ein Gestiegene Finanzierungskosten dämpfen die zwei Hauptmärkte der ASEAN. Für 2023 stand in der Region bei Pkw-Verkäufen und -Produktion noch ein leichtes Plus zu Buche. (GTAI, 02/07/2024) More
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Palm oil exports put at 800,000 tonnes Thailand expects to export 800,000 tonnes of crude palm oil this year, aiming to stabilise the prices of local fresh palm nuts. (Bangkok Post, 08/07/2024) More
Thai oil plan faces rocky financial road The government's plan to increase Thailand's strategic petroleum reserve (SPR) faces resistance from executives in the oil refining and ethanol production sectors, who point to financial challenges. (Bangkok Post, 08/07/2024) More Thailand recorded 17.5 mln foreign tourists in H1, up 35% y/y, ministry says Thailand recorded 17.5 million foreign tourists in the first six months of 2024, the tourism ministry said Tuesday, up 35% from the same period a year earlier. (Reuters, 02/07/2024) More
Agencies deem Eastern Corridor crucial for Thai industry Credit rating agencies are emphasising the importance of the government's Eastern Economic Corridor (EEC) project, which is crucial for advancing Thailand's industrial sector and enhancing competitiveness, according to the Public Debt Management Office (PDMO). (02/07/2024) More
Auto output could hit 14-year low Thailand’s automotive production could plunge to a 14-year low this year, excluding the pandemic years of 2020-22, says Krungsri Securities (KS). (Bangkok Post, 01/07/2024) More
AirAsia boosts China tourism with new Beijing-Bangkok flight route AirAsia unveiled a direct flight route from Beijing to Bangkok on June 28, further solidifying its position as a premier foreign airline in the Chinese market. (TheNation, 28/06/2024) More Thailand extends fee waiver for hotels Thailand’s Cabinet on June 25 agreed to extend a waiver on operating fees for hoteliers for two more years to support the recovery of the country’s tourism sector. (TheNation, 25/06/2024) More
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GTCC BUSINESS & STUDY TRIP TO GERMANY: 9-17 NOVEMBER 2024 |
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KSL pulls out investment in Cambodia The expansion of the sugar business from Thailand into Cambodia has hit a roadblock as Khon Kaen Sugar Industry Plc (KSL), Thailand's third-largest sugar producer, decided to withdraw its investment because of unfavourable business conditions. (Bangkok Post, 05/07/2024) More
Trade talks with Malaysia feature new joint projects Commerce Minister Phumtham Wechayachai attended the third joint trade committee (JTC) meeting between Thailand and Malaysia in Kuala Lumpur. The meeting was expected to increase trade between the two countries from US$25 billion in 2023 to $30 billion by 2027, while accelerating Malaysia's efforts to expand the market for Thai agricultural products. (Bangkok Post, 05/07/2024) More Thai developer to invest $50 mln in second industrial park in central Vietnam WHA Industrial Development, a leading industrial park developer in Thailand, will invest $50 million in building its second facility in the central province of Nghe An. (05/07/2024) More
Singapore eyes food security deals with Thailand Top official meets Thai counterpart to discuss sustainable food industry and seeks knowledge exchange in farming and developing a carbon-credit system. (TheNation, 04/07/2024) More
Bangkok-Vientiane train service begins July 19 A new international train service connecting Bangkok and Vientiane in Laos will begin services on July 19, the State Railway of Thailand announced. (Bangkok Post, 03/07/2024) More
Southeast Asian countries see strong FDI flows Foreign Direct Investments into the ASEAN economies of Indonesia, Malaysia, Philippines, Thailand, Singapore and Viet Nam rose to US$236 billion in 2023, compared with an annual average of $190 billion between 2020 and 2022. (TheNation, 30/06/2024) More
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BYD acquires 20% stake in Thai dealer The Chinese electric vehicle maker BYD (Build Your Dreams) will acquire a 20% stake in its local distributor Rever Automotive in Thailand, its largest market outside of China where it is the EV market leader, the companies said on Saturday. (Bangkok Post, 06/07/2024) More Thai car buyers' preferences shifting Thai consumers' interest in purchasing battery electric vehicles (BEVs) has declined over the past year, while hybrid electric vehicles (HEVs) have emerged as strong contenders, almost on par with BEVs, a survey by the multinational consultancy Deloitte shows. (Bangkok Post, 28/06/2024) More
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Trade talk to ramp up in H2 The Trade Negotiations Department has laid out its blueprint for the second half of 2024, aiming to conclude free trade agreement (FTA) negotiations with the European Free Trade Association (Efta) by year-end, and preparing to host joint trade committee (JTC) meetings with the UK and the Eurasian Economic Union (EAEU) this year in preparation for future FTAs. (Bangkok Post, 04/07/2024) More
Board of Investment plan targets data centres, cloud The Board of Investment (BoI) is speeding up a plan to promote investment in data centres and cloud services in Thailand, in line with global trends and the government's policy to support digital technology. (Bangkok Post, 02/07/2024) More
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Tax measures to cushion blow of wage increases
The Finance Ministry expects to introduce measures soon to alleviate the impact on businesses burdened by an increase in the minimum wage. (Bangkok Post, 08/07/2024) More
Funds for education must be better allocated, says MFP The Education Ministry has once again benefitted from the second-largest proportion of the national budget for 2025, with an allocation of 340 billion baht. This compares with 332.3 billion baht in 2022, 325.9 billion in 2023 and 328.3 billion in 2024. (TheNation, 28/06/2024) More
Cabinet greenlights setting up Cloud First Policy board The cabinet meeting approved the setting up of a committee to drive the government’s Cloud First Policy aimed at shifting the country’s administration towards a digital government, a news source from the Government House revealed today. (TheNation, 25/06/2024) More
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Blumenthal Richter & Sumet’s Corporate Practice receives recognition from The Legal 500 Blumenthal Richter & Sumet (BRS)’s Corporate / Mergers & Acquisitions practice, under the leadership of Senior Partner Andreas Richter, has been acknowledged for the 11th consecutive year by The Legal 500. More
Sindhorn Wellness by Resense named Thailand's Best Hotel Spa 2024 Sindhorn Wellness by Resense, the renowned spa facility at Sindhorn Kempinski Hotel Bangkok, continued to be recognised the second consecutive year as the 1st Thailand’s Best Hotel Spa at the Travel + Leisure Luxury Awards Asia Pacific 2024 held recently. More
Chatrium Hospitality announces collaboration with Circular In a significant step towards environmental responsibility, Chatrium Hospitality has partnered with Circular, a pioneering clothing recycling company, as part of its commitment to sustainability and ecological conservation. 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 Martin Kloke Stephanie Strunk
Chamber Representatives Prin Pathanatham Nuttanicha Srikaew |
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Chamber Representatives Thomas Kolb Julius Niemandt
Chamber Representatives Okka Phyo Maung Shwe Yamin Oo
Mr. Hans-Werner Vogt |
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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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DIHK Economic Survey Early Summer 2024 - The German economy fails to gain momentum The business situation continues to deteriorate. 28 percent of companies report a good situation, while 23 percent report a poor one. The balance of the situation assessment continues its downward trend, dropping slightly from seven to now five points. (DIHK, 15/05/2024) More |
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ASEAN Snapshot 2024 The German Chambers ASEAN Business Council (GCABC), as a #PartnerInASEAN, has recently launched the latest edition of the ASEAN Snapshot with a focus on the German-ASEAN business relations. The snapshot contains 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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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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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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Survey report on "Expectations and Challenges of an EU-Thailand FTA" The European Association for Business and Commerce (EABC) has released a survey report titled "Expectations and Challenges of an EU-Thailand Free Trade Agreement (FTA): Perspectives from European Business in Thailand." More |
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FALLING WALLS LAB is coming to Thailand: 24 August 2024 Which wall will your research break? Pitch your innovative idea in just three minutes, showcasing a breakthrough that positively impacts science and society. Submission deadline is 10 July 2024. More |
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APK 2024: 18th Asia-Pacific Conference of German Business 24-26 October 2024, New Delhi The conference's objective is to provide a platform to deepen the dialogue on current economic developments in Europe and the Asia-Pacific region as well as to build and strengthen personal and economic ties. More |
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Chadaphan Maliphan
Publication and Communication Manager |
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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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