29/02/2024
05/03/2024
14/03/2024
15/03/2024 [Save the date] Multi-Chamber Eastern Seaboard Networking by AUSTCHAM
21/03/2024 [Save the date] STCC Multi-Chamber Networking Night
26/03/2024 [Save the date] GTCC Meets New Members Meet-Up
28/03/2024 [Save the date] GTCC Ordinary General Meeting 2024
24/05/2024 [Save the date] GTCC Gala Night
For more events, please click HERE |
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GTCC YOUNG PROFESSIONALS NETWORK EVENING |
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Thai 2023 GDP expands ay 1.9%, slower than expected Thailand's gross domestic product (GDP) grew 1.9% in 2023, the National Social and Economic Development Council (NESDC) said, as higher tourist numbers and private consumption were undercut by falls in manufacturing and public spending. Growth in 2024 was expected at 2.2-3.2%, lower than the 2.7%-3.7% projection provided by the agency in November. (Bangkok Post, 19/02/2024) More House backs Thailand Land Bridge The House of Representatives has endorsed the Land Bridge feasibility study with 269 votes in favour, despite concerns and objections from the opposition. (Bangkok Post, 17/02/2024) More
Thai inflation hits 35 months low in Jan. 2024 Headline inflation in Thailand has declined for four consecutive months, reaching its lowest level in 35 months, with expectations for the trend to continue in February and March. (Thailand Business News, 09/02/2024) More Thai Exports slightly contracted in 2023 but poised for recovery in 2024 Thai exports in December 2023 showed signs of recovery, with a 4.7%YOY increase, but uncertainty remains due to special factors affecting growth. (SCB Economic Intelligence Centre, 02/02/2024) More
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| Technical update in Thailand |
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Antidumping - Bestimmte offenmaschige Gewebe aus Glasfasern Die Europäische Kommission verlängert die Antidumpingmaßnahmen. Die Maßnahmen betreffen Waren mit Ursprung in China, Indien, Indonesien, Malaysia, Taiwan und Thailand. Mehr
Schuldenberge wachsen weiter Die Regierung möchte ihren Bürgern Geld schenken und muss sich dafür weiter verschulden. Trotz Problemen wollen deutsche Unternehmen auch zukünftig in Thailand investieren. Mehr
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GTCC AFTERWORK BRIEFING AND NETWORKING |
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GTCC MEETS THE GERMAN AMBASSADOR |
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| Companies & Industrial Sectors |
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2023 saw big jump in foreigner investments in Thai condos Foreigners invested over 73.16 billion baht in condominiums in Thailand last year, increasing 23.5% year on year (YoY), the Government Housing Bank’s Real Estate Information Centre (REIC) reported. (The Nation, 17/02/2024) More
CRC unit sees tourism pacing growth Thailand's food industry should grow 2-3% in 2024, driven by inbound tourists nearing the level tallied in 2019, according to Central Food Wholesale. (Bangkok Post, 17/02/2024) More
Thailand mulling nuclear-powered transition to alternative energy Energy Minister Piraphan Salirathavibhaga will have the final say on whether to include a nuclear power plant as a source of alternative energy in the revised Power Development Plan (DPD), the ministry said on Thursday. (The Nation, 15/02/2024) More Suvarnabhumi’s capacity to increase after 3rd runway is operational in July The construction of the third runway at Suvarnabhumi Airport will be completed in time for its use in July, Transport Minister Suriya Juangroongruangkit said. (The Nation, 11/02/2024) More Top 10 best-selling car brands in Thailand eye 2024 growth The decline in car sales is attributed to sluggish economic recovery, high household debt, tight loan conditions, and high-interest rates. Despite these obstacles, established players like Toyota, Isuzu, Honda, Ford, and Mitsubishi maintained their positions as the top five car brands in Thailand. (The Nation, 08/02/2024) More
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GTCC BUSINESS & STUDY TRIP TO GERMANY |
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Malaysia’s Westports eyes expansion despite Thailand’s land bridge project Malaysia’s biggest port operator, Westports Malaysia, is looking to raise 39.6 billion ringgit (299.17 billion baht) to fund its expansion scheme. Westports president Ruben Gnanalingam told Bloomberg that he was not fazed by other developments in ASEAN. He added that Westports’ clientele have not yet considered Thailand’s land bridge as an alternative. (The Nation, 14/02/2024) More
Thailand, Cambodia to discuss joint petroleum exploitation The Thai and Cambodian prime ministers agreed on Wednesday that the two countries will discuss joint exploitation of energy resources within their contested border area in the Gulf of Thailand.(Bangkok Post, 07/02/2024) More
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Thai startup harnesses tech to turn abandoned lands into sustainable farms An agritech startup aims to give agriculture a new lease of life at a time when abandonment of agricultural land in Thailand has been a major problem due to beliefs that crop cultivation was difficult amid the impact of climate change impact, as well as lack of knowledge. (The Nation, 18/02/2024) More
Ministry outlines EV production hub roadmap The Ministry of Higher Education, Science, Research, and Innovation (MHESI) has launched three policies aimed at making Thailand the biggest EV production hub in Southeast Asia. (Bangkok Post, 17/02/2024) More |
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Board of Investement predicts uptick in investment The Board of Investment (BOI) expects Thailand's investment value in 2024 to exceed the 848 billion baht the country posted last year, thanks to new outlays in electric vehicle (EV), upstream electronics and digital technology industries. (Bangkok Post, 17/02/2024) More Big players in global finance eye Southeast Asia investments Private equity investors with billions of dollars to spend are now keenly eyeing promising opportunities in key sectors across Southeast Asia, including healthcare and technology. (The Nation, 09/02/2024) More
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| Legal / HR / CSR / Education / Health |
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Thai workers to see modest 4.9% pay hike in 2024: study Employees in Thailand will see wages rise by an average 4.9% this year, lower than most regional rivals, according to management consultant Aon Plc’s latest survey. (The Nation, 09/02/2024) More
Changes coming to airports Airports of Thailand (AoT) announced last year it will increase passenger service charges at six international airports from April 1, 2024, which would be allocated via the new operating system called Common Use Passenger Processing Systems (Cupps). The additional tax of 30 baht is embedded in ticket prices, meaning the new total service charge for passengers is 730 baht. (Bangkok Post, 19/02/2024) More
Thailand to provide up to US$14,000 in medical insurance coverage for tourists 50 million Baht will be used to provide relief to foreign tourists in case of accidents, crimes, and other unfortunate events or disasters. Foreign tourists are eligible for coverage if they have valid passports and must be visiting Thailand between 1 January – 31 August 2024 with a tourist visa or for the purpose of tourism only. (Thailand Business News, 16/02/2024) More
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ARBURG Thailand and Thai-German Institute join hands for a strategic partnership ARBURG Thailand signed a memorandum of Understanding (MoU) with the Foundation for Industrial Development Thai-German Institute (TGI) to further strengthen their long-term partnership and to continue enhance plastic injection moulding capabilities in Thailand. More
GTCC members' promotions Check out GTCC members' special offers on accommodation, restaurant / food delivery, and other services. More |
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The German Trade Fair Industry: Using post-crisis momentum to drive change AUMA highlights current trends and prospects in the trade fair business in its annual publication, “AUMA Trends 2023/2024”. The digital brochure provides a comprehensive overview of the issues affecting the German trade fair industry following the coronavirus pandemic. An abridged version is now available in English. More |
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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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AHK World Business Outlook: Fall 2023 Results of a survey of German chambers of commerce abroad, delegations and representative offices. The survey was conducted from 25 September to 20 October 2023. More |
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Results of Survey on labour situation of GTCC member companies in Thailand A survey on labour situation had been conducted among GTCC member companies during 11-25 September 2023. It is found that 65.5% of the survey participants experienced a labour shortage in the past 12 months, while 62.1% found it manageable. Lack of skilled workforce in Thailand is the major causes of their labour shortage (65.5%), followed by competition from other companies (58.6%) and language and cultural barriers (24.1%). 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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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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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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