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13/06/2024 [Save the date] GTCC AFTERWORK Networking - June
For more events, please click HERE |
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GTCC AFTERWORK BRIEFING & NETWORKING |
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March exports fell 10.9% y/y, below forecast Customs-based exports fell 10.9% in March from a year earlier, the Commerce Ministry said on Monday, weaker than analysts' expectations. (Bangkok Post, 29/04/2024) More
Global and Thai economies face rising risk Three recent events have changed the world economic picture and monetary policy outlook. The events are: an increasingly severe geopolitical situation, the global economy improving at a better rate than expected, and a signal from the US Federal Reserve that interest rates will not be cut for a while. (Bangkok Post, 27/04/2024) More
Handout funding to diminish spending on other projects Once the government allocates substantial funds for its flagship digital wallet handout, spending on other projects will be reduced, says finance permanent secretary Lavaron Sangsnit. (Bangkok Post, 27/04/2024) More
Banks agree to reduce loan rates Thai banks are set to cut the minimum retail rate (MRR) by 25 basis points for a period of six months. (Bangkok Post, 26/04/2024) More
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| Technical update in Thailand |
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Antidumping – Zuckermais mit Ursprung in Thailand Die Europäische Kommission gibt die Umfirmierung eines Unternehmens bekannt. Die Antidumpingmaßnahmen gelten seit Dezember 2019. (GTAI, 12/04/2024) Mehr
Deutsche Exporte 2023 um 3,2 Prozent gewachsen Die deutschen Ausfuhren in die ASEAN-Länder stiegen im Jahr 2023 um 1 Milliarde US-Dollar. Die Hälfte des Zuwachses entfällt auf Indonesien. (01/03/2024) Mehr
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| Companies & Industrial Sectors |
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Rising expenses add to hotels' woes Hotel operators anticipate high expenses from power bills, food prices and labour wages as the low season arrives amid scorching temperatures. (Bangkok Post, 25/04/2024) More
Long Songkran generated B140bn in tourism income The three weeks of this year’s Songkran festival generated about 140 billion baht in tourism income, with 1.9 million foreign tourists visiting the country during the celebration, according to the Tourism and Sports Ministry. (Bangkok Post, 24/04/2024) More
Call to elevate 10 second-tier provinces The Thai Chamber of Commerce (TCC) has called on the government to promote 10 second-tier provinces as first-tier tourist provinces to expand revenue distribution. (Bangkok Post, 23/04/2024) More
Sector poised to hit B700bn in value The value of the local e-commerce segment this year is expected to reach 700 billion baht, driven by higher business registrations with the Business Development Department. (Bangkok Post, 22/04/2024) More
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GTCC MEMBER EXCLUSIVE SITE VISIT |
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Closer bilateral cooperation in focus during Brunei Sultan’s visit to Thailand The Sultan of Brunei, Hassanal Bolkiah, will pay an official visit to Thailand on April 28-29 on the invitation of Prime Minister Srettha Thavisin, government spokesperson Chai Wacharonke said. (The Nation, 27/04/2024) More Thailand urges bigger ASEAN role in resolving Myanmar conflict Thailand called for the regional bloc ASEAN to take a more proactive role in trying to resolve the crisis in military-ruled Myanmar, after weeks of fighting near its border that halted trade and led to a brief influx of refugees. (Jakarta Post, 27/04/2024) More
Thailand's Bitkub aims for ASEAN expansion with 2025 listing The founder of Thailand's leading cryptocurrency exchange says its anticipated initial public offering would fuel simultaneous expansions into Southeast Asia's developing nations, with the goal of creating a regional champion to compete with the likes of Coinbase and Binance. (Nikkei Asia, 26/04/2024) More
Asean 'must redouble' efforts: PM Prime Minister Srettha Thavisin said a more connected Asean is key to unlocking the region's full potential and enhancing its collective competitiveness. (Bangkok Post, 24/04/2024) More
Centara launches new Vientiane hotel Centara Hotels & Resorts has announced the opening of Cosi Vientiane Nam Phu, in Laos. (Bangkok Post, 23/04/2024) More
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Toyota pilots EV pickups in Pattaya Toyota has launched a public transport pilot project in Pattaya with nine fully electric Hilux Revo pickup trucks. (Bangkok Post, 25/04/2024) More
Four companies to jointly invest in 15 power plants Local power and waste management companies have teamed up to co-invest in 12 waste-to-energy power plants and three refuse-derived fuel production facilities in a move to support the state's bio-, circular- and green economic policy. (Bangkok Post, 24/04/2024) More
GH Bank preps low-interest loans for greener homes Government Housing Bank (GH Bank) is offering low-interest loans totalling 10 billion baht to purchase or renovate homes to become more environmentally friendly and reduce pollutions for residents. (Bangkok Post, 23/04/2024) More
China's Chery lands BOI perks for Rayong EV plant Thailand continues to attract investment in its electric vehicle (EV) industry, with Chery Automobile being the latest Chinese EV manufacturer to have been granted investment incentives by the Board of Investment (BOI). (Bangkok Post, 23/04/2024) More
Thailand urged to increase renewable power target beyond 50% A call for an increase in renewable power generation beyond the target of 50% outlined in the Power Development Plan (PDP) has been issued to the government. The PDP is due to be finalised in the second quarter of this year. (Thaiger, 22/04/2024) More |
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The future of Europe’s Southeast Asia engagement Ties between Europe and Southeast Asia have seen an uptick in recent years due to several converging interests. The European Union and key European states recognize the opportunities Southeast Asia presents as part of the wider Indo-Pacific growth story. (GIS Report, 17/04/2024) More
Raimon Land plans expansion into Europe and Australia next year Thailand's luxury property developer Raimon Land (RML) has announced plans next year to expand its brand into the European and Australian real estate markets where there are many undervalued premium properties. (The Nation, 04/04/2024) More
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| Legal / HR / CSR / Education / Health |
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VAT on imports sent via post starts in May The Customs Department is scheduled to commence the collection of value-added tax (VAT) for imported goods sent through postal services, regardless of the value of the goods, starting in May. (Bangkok Post, 29/04/2024) More
Cybercriminals using AI for attacks Cyber-attacks will increasingly use artificial intelligence (AI) to speed up their post-exploitation activities at targeted organisations, according to Palo Alto Networks. (Bangkok Post, 27/04/2024) More
The thorny issue of digital wallet funding The coalition government led by Prime Minister Srettha Thavisin made a significant pivot on its flagship scheme, which aims to hands out 10,000 baht each to 50 million Thais via a digital wallet, shifting from government borrowing, which drew sharp criticism and raised concerns about potential violations of financial and fiscal discipline regulations. (Bangkok Post, 25/04/2024) More
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Brose Implements Automated Guided Vehicle (AGV) Solution by Jungheinrich Jungheinrich collaborates with Brose, advancing their Thailand operations with state-of-the-art Automated Guided Vehicle (AGV). More
QSNCC launches Loyalty Program to deliver unprecedented privileges for event organizers worldwide The Queen Sirikit National Convention Center (QSNCC) has leveraged cutting-edge technology to boost customer satisfaction with the launch of Loyalty Program, which will provide event organizers worldwide with a wide range of unrivalled benefits and lifestyle needs. More
Open House @ RIS Swiss Section 18 May 2024, 1:00pm to 3:00pm. Join the Open House Info Session and meet the school's management team, teachers, students, and ambassadors, all eager to provide insights into the exceptional education and close-knit school community. More
GTCC members' promotions Check out GTCC members' special offers on accommodation, restaurant / food delivery, and other services. More |
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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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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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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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