14/12/2023
15/12/2023
18/01/2024 [Save the Date] GTCC Business Luncheon: Thailand Economic Outlook 2024
30/01/2024 [Save the Date] GTCC New Members Meet-up 1/2024
For more events, please click HERE |
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Crying out for a crisis
In order to legally borrow 500 billion baht for the digital wallet handout, the government has to show the economy is in a state of emergency. (Bangkok Post, 27/11/2023) More
Thai economy in crisis: Government seeks foreign investment and tackles debt The economy in Thailand is in crisis and needs some significant stimulation, according to the nation’s Prime Minister Srettha Thavisin, who also acts as the Thai Finance Minister. The nation’s reliance on tourism has been heavily impacted by lower-than-expected foreign arrivals, resulting in a need to prioritise foreign investment and tackle household debt.(Thaiger, 23/11/2023)More
Thailand’s trade with Israel drops 4.98% due to Hamas conflict The Israel-Hamas conflict has pulled Thailand-Israel trade down by 4.98% in the first nine months of this year, the Department of International Trade Promotion’s Tel Aviv office said on Saturday. (The Nation, 25/11/2023)More World Bank expert foresees worse water-related disasters for Thailand Thailand will possibly suffer more natural disasters, especially flooding, Saroj Kumar Jha, global director for the World Bank Group’s Water Global Practice, warned recently. (The Nation, 25/11/2023) More
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| Mazars Technical Update - Oct 2023 |
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Schönheitspflege ist in Thailand ein attraktiver Markt Körperpflege- und Kosmetikprodukte werden stärker nachgefragt. Lokale und asiatische Anbieter dominieren den Markt. Trends zu Gesundheit und Natur bieten Einsteigern neue Chancen. (GTAI, 19/10/2023) Mehr
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| Companies & Industrial Sectors |
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PM Srettha hopes to secure US$5 bn deal with Tesla Prime Minister Srettha Thavisin is trying to close a major investment deal worth US$5 billion with US car maker, Tesla. (The Nation, 27/11/2023) More Thai car exports surge 12.2% in October despite domestic sales slump Thai car exports witnessed a 12.2% surge in October, reaching 105,726 units, thanks to the escalating demand for pickups primarily in the Middle East. However, domestic sales didn’t keep pace, suffering from the burden of high household debt. (Thaiger, 23/11/2023) More AOT reverts to profitability, posting Bt8.79 bn profit The Airports Authority of Thailand (AOT) has reported a profit of 8.79 billion baht for the first 9 months of this year, reversing losses of 11.09 billion baht incurred in the same period of last year. (The Nation, 22/11/2023) More Microsoft signs MoU to help create a digital-first, AI powered Thailand Microsoft has agreed to collaborate with the Thai government to drive the country's national digital development, skilling the work force and sustainability efforts to pave the way for digital infrastructure investments centred on artificial intelligence and cloud. (The Nation, 16/11/2023) More AWS to help govt push Thailand’s digital transformation Giant cloud computing provider Amazon Web Services (AWS) has vowed to continue supporting Thailand’s digital transformation and push the country into becoming an innovation hub via investment in modern technologies. (The Nation, 15/11/2023) More
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Tourist trap From visa-free entry to digital border controls, Thailand is weighing up how it can attract more overseas visitors. (Bangkok Post, 27/11/2023) More
Defense Minister highlights army collaboration for upholding ASEAN centrality Mr. Sutin Klungsang, the Minister of Defense emphasized the importance of collaboration to uphold ASEAN Centrality, highlighting the role of armies in addressing various challenges. (Pattaya Mail, 25/11/2023) More
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Thai business loves carbon credits, but are they harming the climate and grassroots people? While carbon credits are hailed in some quarters as a solution for the climate crisis, environmentalists warn they could send the planet spiralling into an even worse disaster. (Thai PBS World, 26/11/2023) More Japan's Honda to increase EV production in Thailand - Thai government Japanese automaker Honda will increase the proportion of its production of electric vehicles (EV), EV batteries and electric motorcycles in regional automaking hub Thailand, the Thai government said. (Reuters, 23/11/2023) More Government extends subsidy for EV buyers until 2027 The Thai government has agreed to extend the 100,000 baht per car subsidy for buyers of electric vehicles (EVs) until 2027, to promote the production and use of EVs in the country. (Thai PBS World, 02/11/2023) More |
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Eastern corridor investment plan The Eastern Economic Corridor (EEC) Policy Committee on Friday endorsed a draft 5-year EEC development plan for the period 2023 to 2027, with the aim of attracting a total of 500 billion baht worth of investments to the area, representing an average of 100 billion baht per year. (Bangkok Post, 24/11/2023) More
Thailand offers 10-year visas for investors in industrial east Thailand will offer 10-year visas for investors in targeted businesses in its industrial eastern region to attract foreign investment, a deputy prime minister said on Friday. (Bangkok Post, 24/11/2023) More
Will Germany invest in Thailand's 'land bridge' project? The project involves the construction of a rail and road system connecting Thailand's eastern and western coasts. It is designed to provide an alternate trade route between the Indian and Pacific oceans. (DW, 21/11/2023) More |
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| Legal / HR / CSR / Education / Health |
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Further guidance from the Revenue Department on “foreign-sourced income” On 20 November 2023, the Revenue Department issued Departmental Instruction no. Paw.162 ("DI Paw. 162"), which provides further guidance that the interpretation under the Departmental Instruction Paw.161/2566 ("DI Paw.161") shall not apply to any foreign-sourced income earned by Thai tax residents before 1 January 2024. More
Thailand ranked 'very low' in English proficiency index Thailand has been ranked 8th, or “very low”, among ASEAN countries and 101st worldwide in the English Proficiency Index 2023 prepared by EF, a well-known English teaching institute with a worldwide network. (Bangkok Post, 26/11/2023) More
Nearly 90% Thais passing off AI work as their own: study Thai white-collar workers must be educated about ethics and morality when using generative AI to increase productivity, according to a recent study that found nearly 90% of those who had used generative AI had claimed AI's work as their own. (The Nation, 09/11/2023) More
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Sindhorn Kempinski Hotel Bangkok welcomes the new F&B Director Sindhorn Kempinski Hotel Bangkok is pleased to announce the appointment of Manuel Llamas Velasco as the new Food & Beverage Director. With an impressive career spanning over two decades in the hospitality industry and experience gained in numerous countries worldwide, he brings a wealth of knowledge and expertise to the team. More
GTCC members' promotions Check out GTCC members' special offers on accommodation, restaurant / food delivery, and other services. More |
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Grüne Woche 19-28 January 2024, Berlin, Germany
Grüne Woche is the leading international trade fair for food, agriculture and horticulture. The fair is also the venue for the Global Forum for Food and Agriculture (GFFA) organized by the German Federal Ministry of Food and Agriculture. More
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ITB Berlin 5-7 March 2024, Berlin, Germany
ITB Berlin 2024 will take place as a pure b2b event providing a platform for the entire value chain of the travel industry. It hosts the leaders of the global travel industry, showcasing decisive trends and providing unlimited opportunities for the travel business. The internationally acclaimed ITB Berlin Convention will take place parallel with the show as a live event. 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. Interviews reveal the perspective of the exhibiting companies and the expectations of visitors. New competences on the part of exhibition organisers and service providers are discussed. AUMA demonstrates the importance of the industry with facts and figures. An abridged version is now available in English. 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 results can be found here. |
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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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