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26/06/2024
11/07/2024
18/07/2024 [Save the date 18:00-21:00 hrs.] STCC Multi-Chamber Networking Night
19/07/2024
19/07/2024
For more events, please click HERE |
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FORVIS MAZARS IN THAILAND |
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GTCC AFTERWORK BRIEFING WITH LUFTHANSA AND NETWORKING |
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Political risk weighs on economy Thai politics is nearing a turning point, as next month the political fate of Prime Minister Srettha Thavisin and the leader of the opposition Move Forward Party (MFP) are scheduled to have their cases decided by the Constitutional Court. (Bangkok Post, 24/06/2024) More Thai exports surge to $26.22 billion in May, marking a 14-month high Trade surplus returns to the country after five months, as exports driven by agricultural industry rise by more than 7%. (The Nation, 21/06/2024) More State revenue tally slightly off target The government's net revenue collection for the first eight months of fiscal 2024 was 1.5% below its target. (Bangkok Post, 21/06/2024) More
Economist warns of further industry closures More businesses in the automobile, electrical appliances, and electronics industries are under threat of closure because they are not moving quickly enough to adapt to digital technology and global trends, an economic expert from the University of the Thai Chamber of Commerce has told The Nation. (The Nation, 17/06/2024) More Govt aims to disburse 70% of FY2024 investment budget in 4 months The Finance Ministry is pushing to disburse at least 70% of the government’s fiscal year (FY) 2024 investment budget before the fiscal year ends in four months, Minister Pichai Chunhavajira said on Friday. (The Nation, 15/06/2024) More
Thai central bank holds key rate despite government calls for cut Thailand's central bank left its key interest rate unchanged for a fourth straight meeting on Wednesday, as widely expected, despite public calls by the government to reduce borrowing costs to help revive Southeast Asia's second-largest economy. (Reuters, 12/06/2024) More Cabinet okays 8.28bn baht for measures to help SMEs get loans Measures set to cover interest, and guarantee fees for 10-year loans of no more than 10 million baht per small business. (The Nation, 11/06/2024) More
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Wirtschaftsdaten kompakt - Thailand GTAI präsentiert Ihnen wieder die Reihe "Wirtschaftsdaten kompakt". Die Publikation gibt Auskunft über allgemeine Kennzahlen eines Landes wie die Fläche oder das Bevölkerungswachstum. Sie erhalten auch einen Überblick über die wichtigsten Kennzahlen zu Wirtschaftslage, Außenhandel und Geschäftsumfeld. Die Klimaindikatoren informieren über Emissionen und erneuerbare Energien. Zudem finden sich Statistiken zu den wirtschaftlichen Beziehungen des Landes mit der EU und Deutschland. (GTAI, 29/05/2024) Mehr
Aktuelle Entwicklungen im thailändischen Datenschutzrecht Im März 2024 sind Implementierungsvorschriften in Bezug auf den grenzüberschreitenden Transfer von Daten in Kraft getreten. Sie führen Thailands Datenschutzgesetz näher aus. (GTAI, 27/05/2024) Mehr
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"UNLOCKING EFFICIENCY: JUNGHEINRICH AGV ENHANCES OPERATIONS IN BROSE'S SMART WAREHOUSE" |
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| Companies & Industrial Sectors |
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Harman building B2.8bn Thai factory Harman, a US-based subsidiary of Samsung Electronics, is building its first Southeast Asian factory, with Thailand chosen as its production base to export electronic products for cars. (Bangkok Post, 24/06/2024) More
Thai govt urged to play a role in developing skilled digital personnel Thai entrepreneurs in the digital industry have expressed increasing confidence in the industry in the first quarter of 2024, but are still concerned about the shortage of skilled labour and are seeking the government’s intervention, according to the Digital Economy Promotion Agency (DEPA). (The Nation, 21/06/2024) More Land bridge project would be a boost to shipbuilding industry While Thailand has some 30 shipyards, a lack of skilled workers means they are unable to meet a growing demand for yachts and speedboats. (The Nation, 21/06/2024) More
Thailand’s multibillion-dollar industry braces for La Niña flooding Sandbag walls and smart flood defences are rising at industrial estates to prevent repeat of 3.5 billion baht losses in 2011 Great Flood. (The Nation, 21/06/2024) More Thailand eyes 8 trillion baht revenue in 2027 from soft power The country sets out to conquer the world with a range of soft powers that will be under the spotlight in an upcoming expo. (The Nation, 21/06/2024) More Thai airlines push for jet-fuel tax reduction Thai Airlines Association seeks excise cut amid industry challenges, while the Finance Ministry stipulates that any tax cuts must lead to lower ticket prices. (The Nation, 14/06/2024) More Thailand sits on 44.41 quadrillion baht worth of rare minerals Department of Mineral Resources learns that 19% of the country has different kinds of minerals that can be used as material in advanced industries. (The Nation, 13/06/2024) More
New bill to cut non-essential costs from fuel prices: energy minister Oil companies will no longer be able to burden consumers with brokerage fees. (The Nation, 12/06/2024) More
Auto loan rejections hurting industry Auto loans from banks are probably 100-200 billion baht lower than expected so far this year because of concerns over non-performing loans, which threatens to affect the entire automotive supply chain, according to the Federation of Thai Industries (FTI). (Bangkok Post, 11/06/2024) More
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GTCC BUSINESS & STUDY TRIP TO GERMANY: 9-17 NOVEMBER 2024 |
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Myanmar-Thai border closure strands trucks, stalls trade in Phayar Thonezu Hundreds of trucks are stranded at Phayar Thonezu in Kyarinseikgyi Township, Kayin State, as Myanmar-Thai border crossings remain closed since June 17. (The Nation, 21/06/2024) More Thailand shoots to the top, in ASEAN rankings Thailand has rocketed up the global competitiveness rankings, securing the second spot in ASEAN. The IMD World Competitiveness Centre’s 2024 report catapulted Thailand from 30th to 25th place worldwide, highlighting a significant leap in economic performance. (Thaiger, 19/06/2024) More Thailand looks to maritime tourism connectivity with Vietnam, Cambodia Thailand is seeking to cooperate with Vietnam and Cambodia in opening a maritime route connecting islands near Trat province of Thailand with Vietnam's Kien Giang province and Cambodia's Sihanoukville province to promote investment, trade, tourism and tourism combined with meetings, incentives, conferences, and exhibitions (MICE). (The Nation, 17/06/2024) More
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New bill to prioritise climate goals A civil society group is planning to submit to parliament a bill which it says aims to speed up climate goals while ensuring the rights of local communities to the natural resources in their areas. (Bangkok Post, 24/06/2024) More Chinese automakers retain grip over Southeast Asia's EV market Electric vehicle (EV) sales are surging in Southeast Asia, led by China's BYD (Build Your Dreams) and Vietnam's VinFast, eating into the internal combustion engine car market dominated by Japanese and Korean firms, Counterpoint Research said. (Bangkok Post, 21/06/2024) More
A closer look at the new energy plan
Authorities are expected to forward the scheme for approval, but some companies think it doesn't go far enough to meet climate goals. (Bangkok Post, 20/06/2024) More
PTT to promote adoption of hydrogen and CCS technologies Sustainability the focus of new investment plan as recently appointed CEO takes over the helm. (The Nation, 17/06/2024) More Harnessing Green-Tech: A strategy for carbon neutrality in Thailand Thailand, a key player in Southeast Asia, has been grappling with its own carbon emissions challenges. (The Nation, 14/06/2024) More
Thailand Begins Hydrogen Blending with EGAT-BIG Collaboration EGAT partners with BIG to advance hydrogen storage and transportation, enhancing clean energy generation towards Net Zero Emissions. (Bangkok Post, 13/06/2024) More
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Power generation investment to reach B1tn within 6 years Investment in the development of new electricity generation facilities, aimed at promoting renewable energy, is expected to reach 1 trillion baht over the next six years under the novel power development plan (PDP), says energy permanent secretary. (Bangkok Post, 22/06/2024) More
SCB EIC wary of risk to foreign investment SCB EIC, a research centre under Siam Commercial Bank, has expressed concerns about heightened political risks undermining foreign investment in both financial and capital markets, as well as long-term foreign direct investment. (Bangkok Post, 19/06/2024) More
OECD agrees unanimously to initiate accession talks with Thailand The 38-nation Organisation for Economic Co-operation and Development Council (OECD) has agreed unanimously to initiate accession discussions with Thailand, the Office of the National Economic and Social Development Council (NESDC) said on Monday. (The Nation, 19/06/2024) More
Govt sees $22bn investment pledges Thailand expects at least 800 billion baht (US$21.78 billion) worth of investment applications this year, the government said. (Bangkok Post, 19/06/2024) More Thailand's Central buys rest of German luxury retail business KaDeWe Thai retailer Central Group agreed to acquire the assets it has not already secured in KaDeWe Group, a chain of landmark department stores in Germany, part of tycoon Rene Benko's folded property empire. (Reuters, 14/06/2024) More
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| Legal / HR / CSR / Education / Health |
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Thailand approves VAT on cheap imported goods Thailand has approved the collection of 7% value-added tax (VAT) on imported goods sold for less than 1,500 baht (US$40.93) from July to December, a finance ministry official said on Friday (June 21). (The Nation, 21/06/2024) More Most Thai jobs safe from AI Artificial intelligence (AI) could have a muted impact on Thai employment, with less than 4% of employees in the service sector at high risk of being replaced by the technology, according to Kasikorn Research Center (K-Research). (Bangkok Post, 24/06/2024) More Foreign condo ownership quota being reviewed The government will study the feasibility of raising the level of foreign ownership allowed in condominiums from 49% of a building’s usable space to 75%, according to Deputy Prime Minister Phumtham Wechayachai. (Bangkok Post, 20/06/2024) More
Thailand’s cybersecurity spending low as cybercrime costs surge Thailand’s current expenditure on cybersecurity stands starkly low at just 0.2% of corporate revenue, despite the looming surge in cybercrime-related costs projected to reach US$10.5 trillion globally by 2025, according to cybersecurity firm Fortinet. (Thaiger, 19/06/2024) More
Thailand makes history by legalises same-sex marriage ‘Equal marriage’ bill set to go into effect by the end of this year, seen as a special New Year gift to the people of Thailand. (The Nation, 18/06/2024) More
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Austrian Airlines increases frequencies between Bangkok to Vienna Austrian Airlines increases weekly frequencies between Bangkok and Vienna from 7 to 13 over busy winter period. Largest capacity increase during Winter 2024 schedule as flights increase by 86%. 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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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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German Day at Renewable Energy Asia 3 – 5 July 2024 QSNCC, Bangkok, Thailand You are warmly invited to visit the German Pavilion at booth G19 on the German Day! Meet 8 German companies at Renewable Energy Asia and learn more about the latest developments in the area of renewable energy and energy efficiency. At the exhibition stand of the German Federal Ministry for Economic Affairs and Climate Action, our German experts will demonstrate their technology “made in Germany“. 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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