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17/05/2024 [Save the date] Multi-Chamber Eastern Seaboard Networking by AMCHAM
24/05/2024
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GTCC MULTI-CHAMBER EASTERN SEABOARD BRIEFING & NETWORKING |
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Economy falters despite holiday boost The University of the Thai Chamber of Commerce (UTCC) expects 140-200 billion baht to circulate in the country during this year's Songkran festival, 11.8 billion baht of which will be spent by 10 million overseas tourists. Domestic spending growth remains slow. (Bangkok Post, 14/04/2024) More
Economists predict reduction by mid-year The Bank of Thailand is expected to start cutting the policy rate before mid-year as inflationary pressure has eased following six consecutive months of prices contracting, while the economy is underperforming, according to economists. (Bangkok Post, 09/04/2024) More
Digital wallet scheme coming in Q4, says Srettha The government's 500 billion baht (UScopy3.75 billion) digital wallet handout scheme will be rolled out in the fourth quarter of this year, Prime Minister Srettha Thavisin said. (Bangkok Post, 10/04/2024) More
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| Technical update in Thailand |
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Wird Thailand zum Produktionshub von E-Fahrzeugen in Südostasien? Thailand ist der größte Hersteller von konventionellen Kfz in Südostasien. Auch bei Elektrofahrzeugen erarbeitet sich der Standort einen Vorsprung. (14/03/2024) Mehr
Thailands Werkzeugmaschinen werden mehrheitlich importiert Der thailändische Markt für Werkzeugmaschinen ist stark abhängig von Einfuhren. Deutsche Maschinen sind zwar angesehen, aber oft zu teuer. Platzhirsche sind japanische Modelle. (01/03/2024) Mehr
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GTCC AFTERWORK BRIEFING & NETWORKING |
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| Companies & Industrial Sectors |
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Rail heralded as future for Thai logistics Experts have backed rail to transport agricultural products over long distances following a successful trial, which saw a 13-fold lowering of carbon emissions when compared to air freight. It was also cheaper. (Bangkok Post, 17/04/2024) More
Ducati to use Thailand as an export hub Italian big bike manufacturer Ducati Motor Holding aims to make Thailand one of its export hubs after opening a new factory in Rayong, its first production facility in Asia. The 400-million-baht plant will make 10,000 motorcycles a year in the first phase. (Bangkok Post, 17/04/2024) More
AXA turns to M&A deals to generate Thai growth AXA Thailand General Insurance is exploring merger and acquisition opportunities to help grow its presence in the highly fragmented non-life insurance industry here. (Bangkok Post, 17/04/2024) More
Foreign arrivals in Thailand surpass 10-million mark this year Thailand welcomed 10,723,953 foreigners between January 1 and April 14, marking a 43% jump year on year, the Tourism and Sports Ministry announced. (The Nation, 16/04/2024) More
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GTCC MEMBER EXCLUSIVE SITE VISIT |
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Thai banks eye regional expansion Regional business expansion of large local banks rose markedly in 2023 after multiple cross-border acquisitions led to substantial overseas loan growth during 2020-22. (Bangkok Post, 16/04/2024) More
Thailand leads push for six-nation visa to attract more tourists Thailand is steering an initiative for a joint-visa program with countries that together hosted about 70 million tourists last year as Prime Minister Srettha Thavisin ramps up initiatives to attract more long-haul and high-spending travelers. (Bloomberg/ The Japan Times, 08/04/2024) More
Thailand and Vietnam to announce CSP in June Thailand and Vietnam have agreed to elevate their relations to comprehensive strategic partnership (CSP), according to the Ministry of Foreign Affairs. (Thai PBS World, 13/04/2024) More
FTI wary of conflict's impact on border trade Recent armed conflict in Myanmar is causing concern over a possible further decline in border trade near Tak's Mae Sot district and a spike in illegal workers from Myanmar in Thailand, says the Federation of Thailand (FTI). (Bangkok Post, 11/04/2024) More
State agency seeks more FTAs for Thailand to match ASEAN competitors State agency Trade Policy and Strategy Office (TPSO) urged the government to negotiate more free trade agreements (FTAs) to boost economic cooperation as the current number of FTAs is still behind that of competitors in ASEAN. (The Nation, 30/03/2024) More
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Big EV battery cell plant likely in two years The Board of Investment (BoI) expects foreign investors to set up a big plant in Thailand to produce battery cells for electric vehicles (EVs) within two years, following its roadshow in China last week. (Bangkok Post, 17/04/2024) More Local company producing batteries to support Thailand’s EV ambitions Amita Technology, Thailand and ASEAN's first lithium-Ion battery gigafactory, has pledged to complete the country's electric vehicle (EV) ecosystem by developing its own battery manufacturing from upstream to downstream. (The Nation, 09/04/2024) More
New green aviation fuel venture formed A new sustainable aviation fuel company is being set up through a collaboration between Energy Absolute Plc (EA) and Bangkok Aviation Fuel Services (BAFS), in a bid to serve demand for cleaner fuel to reduce carbon emissions. (Bangkok Post, 09/04/2024) More |
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Thai-EU free trade deal on the horizon If everything goes as planned, Thailand and the EU could sign a free trade agreement by mid-next year, in what is another example of the European Union's increasing engagement in the Indo-Pacific region. (Bangkok Post, 17/04/2024) More
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| Legal / HR / CSR / Education / Health |
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China, Thailand sign pacts on outer space, lunar outposts China and Thailand signed initial pacts on Friday to co-operate on peaceful use of outer space and international lunar research stations, the Chinese space agency said. (Reuters/Bangkok Post, 05/04/2024) More
All imported goods now face VAT Following a mandate from Prime Minister Srettha Thavisin, the government looks set to impose a 7% value-added tax (VAT) on imported goods valued from one baht up, commencing in May. (Bangkok Post, 03/04/2024) More
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Chatrium Hospitality partners with Operation Smile to transform lives In its commitment to making a positive impact on children’s lives, Chatrium Hospitality is proud to announce a fundraising partnership with Operation Smile, a world-renowned charitable organisation that provides life-changing cleft lip and cleft palate surgeries to children in need.More Money20/20 Asia sets the stage for global fintech brilliance, QSNCC secured for three years Money 20/20, the world’s leading fintech show, regarded as the place where money does business, is opening up its doors to Money20/20 Asia held in Bangkok at the Queen Sirikit National Convention Center on April 23-25. 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
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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