Search Results for: Federation of Thai Industries

  • Economy News

    Federation of Thai Industries concerned about plans for minimum wage hike

    Thailand’s Federation of Thai Industries has expressed concern about the impact a rise in the minimum wage could have on small and medium-sized businesses. The federation says if a proposal to increase the minimum wage to 492 baht goes ahead, it will have a severe impact on such firms. According to a Bangkok Post report, the FTI was responding to…

  • Economy News

    Federation of Thai Industries wants gov to scrap Test & Go, stop fuel price crisis

    The Federation of Thai Industries has called on Thailand’s government to scrap the Test & Go scheme, and stop the ongoing fuel price crisis. On Thursday, the president of the federation suggested easing Test & Go to support tourism and a recovery for the Thai economy. The FTI suggested that Thailand only require fully vaccinated travellers to show proof of…

  • Business News

    Thai industries federation urges stringent checks on imported produce

    The Federation of Thai Industries (FTI) urged the government to intensify scrutiny of agricultural imports, particularly fruits and vegetables, from neighbouring nations and China, following the detection of pesticide contamination in some produce. Kriengkrai Thiennukul, the FTI chairman. stated that Thailand continues to import fruit and vegetables contaminated by chemicals banned in many countries. He emphasised the need for a…

  • Thailand News

    Thai Hong Kong Trade Association signs MoU with Industries Federation

    The Federation of Hong Kong Industries (FHKI) and the Thai Hong Kong Trade Association (THKTA) have joined forces, signing a Memorandum of Understanding (MoU) that promises to revolutionise bilateral trade. FHKI Chair Steve Chuang made the announcement on January 24, declaring that the Association is strategically eyeing ASEAN and Thailand as prime territories for Hong Kong manufacturers looking to navigate…

  • Thailand News

    Business ties: Thailand extends visa-free stay for Hongkongers

    Thailand’s extension of visa-free visits for Hong Kong residents is expected to bolster business relations and entice more visitors from the financial hub, despite a recent murder-suicide incident in Bangkok, according to industry leaders. The tragic event, involving six people, has not deterred travel plans, they emphasised. Anthony Lam Sai-ho, Executive Deputy Chairman of the Federation of Hong Kong Industries, praised…

  • Thailand News

    Shocking hike: Thai industries spark concern over electricity rates

    Thailand’s plan to hike electricity rates later this year could deter foreign direct investment, warned the Federation of Thai Industries (FTI). The alert followed the Energy Regulatory Commission’s (ERC) announcement on Friday, indicating an imminent rise in power bills for both businesses and households. The ERC has proposed three new power tariff options, featuring increases from 11% to 44% above…

  • Business News

    Thailand’s industrial sentiment hits two-year low amid political strife

    Thailand’s industrial sentiment index experienced a decline for the third consecutive month in June, reaching its lowest point in two years, according to the Federation of Thai Industries (FTI). The drop is attributed to a sluggish economy, weak demand, and increasing bad debt problems. The FTI reported that the industrial sentiment index fell to 87.2 in June, down from 88.5…

  • Business News

    Thai factory closures, a victim of Chinese imports surge

    Chinese electric vehicle (EV) manufacturer BYD recently opened its inaugural Southeast Asian factory in Thailand, garnering considerable attention and praise for the country’s industrial foresight. However, this development also adversely affected long-established Japanese automakers, leading to a ripple effect across numerous Thai factories. A crucial development went relatively unnoticed as Suzuki Motor announced the closure of its Thai factory, with…

  • Business News

    Thailand woos Saudi investors with EV sector opportunities

    Thai officials are set to attract Saudi Arabian entrepreneurs to invest in Thailand’s S-curve industries, particularly following their interest in the electric vehicle (EV) sector. Efforts to promote Thailand to potential investors will take place during a roadshow in Saudi Arabia, while also supporting Thai businesses aiming to expand into the Middle East, according to Narit Therdsteerasukdi, Secretary-General of the…

  • Thailand News

    Thailand’s BOI opens first Saudi branch amid growing ties

    Thailand’s Board of Investment (BOI) will inaugurate its first branch in Saudi Arabia this week, signalling a new chapter in economic relations between the two nations. The new office in Riyadh, opening this Sunday, July 14, marks a significant step in fostering investment and business growth. This strategic expansion has drawn high-profile attendees, including Foreign Minister Maris Sangiampongsa and over…

  • Thailand News

    Pol-ishing Thais: Thailand, Poland to boost medical technology ties

    Thailand and Poland, despite their close trade ties, are urged to enhance their business cooperation, particularly in the medical technology sector, according to Polish Ambassador Artur Dmochowski. During a seminar in Bangkok yesterday, July 9, Dmochowski highlighted Poland‘s desire to strengthen economic, commercial, and technological exchanges with Thailand. The event aimed to showcase advancements in Polish medical technology. The Polish…

  • Thailand News

    Thailand extends diesel price cap amid long-term energy concerns

    Efforts by the Thailand government to cap energy prices, and diesel subsidies may appease the public in the short term, but there are growing concerns about the long-term implications on fuel consumption. The extension of the diesel price subsidy, funded by the Oil Fuel Fund, is a recent measure that fixes the retail price at 33 baht per litre until…

  • Thailand News

    Thailand eyes cleaner energy with new power plan for 2024 to 2037

    Thailand’s revised power development plan (PDP) is set to be submitted for approval after a week-long public hearing concluded yesterday, the implementation of the plan by year’s end, will steer the country towards cleaner energy. Central to Thailand’s commitment to reducing carbon dioxide emissions, the PDP is expected to provide a clearer path for the nation. Thailand announced its commitment…

  • Business News

    Thai industries sentiment index drops to 88.5 as layoffs rise

    Thai Industries Sentiment Index (TISI) experienced another decline in May, dropping to 88.5 from April’s 90.3 points, as 15,000 workers have been laid off since the beginning of the year, according to the Federation of Thai Industries (FTI). Layoffs in the first five months of 2024 emerged as the TISI, which measures the manufacturing sector’s health, fell for the second…

  • Business News

    Shifting gears: Thai auto parts makers urged to spark new path in medical devices

    The Federation of Thai Industries (FTI) is urging local auto parts manufacturers to adapt to the technological disruption caused by electric vehicles (EVs) and transition to producing medical devices, which are projected to have a promising future. According to the FTI, auto parts makers accustomed to internal combustion engines are finding it difficult to adapt to electric mobility technology, as…

  • Business News

    Thailand boosts SMEs growth in upcoming Synergy Expo 2024

    Thailand is set to boost marketing opportunities for small and medium-sized enterprises (SMEs) through the newly announced Thailand SME Synergy Expo 2024. This five-day trade show, running from June 19 to 23 at the Queen Sirikit National Convention Center in Bangkok, is a collaborative effort by the Business Development Department (DBD), the Office of SMEs Promotion (Osmep), and several governmental…

  • Thailand News

    Thai energy firms question new power plan for carbon neutrality

    Thailand’s energy firms expressed concerns that the revised power development plan (PDP) may fall short of the kingdom’s 2050 carbon neutrality goals, highlighting the need for a balanced approach between practicality and optimism. The PDP, which is set to be enforced from 2024 to 2037, aims to promote greater use of renewable energy to reduce carbon dioxide emissions. However, energy…

  • Business News

    Thai car sales plunge; luxury market hit amid economic woes

    Mercedes-Benz (Thailand) reports a significant decrease in domestic car sales, affecting even the typically robust premium car sector. The struggling Thai economy and banks’ stricter auto lending policies due to high household debt, are impacting car manufacturers across all sectors. This includes the luxury market, which generally leverages higher purchasing power. “The automotive industry has been hard hit by this…

  • Business News

    Thailand’s steel sales slump 11 to 12% due to weak car market

    Thailand’s sluggish car sales prompted an 11 to 12% decline in premium-grade steel sales during the first four months of 2024, raising concerns about reduced steel consumption this year, according to the Federation of Thai Industries (FTI). FTI Iron and Steel Industry Club Vice-Chairman Nava Chantanasurakon stated that local steel manufacturers are bracing for a tough period, with expectations of…

  • Thailand News

    Thai export growth set to miss target amid global challenges

    The anticipated growth in Thai exports this year is poised to fall short of expectations due to a mix of external and internal hurdles, as outlined by a recent assessment from a private sector panel. During its recent meeting, the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) upheld its projection for export growth in 2024, estimating it to…

  • Business News

    Thai car production drops 11.02% in April amid long holidays

    Car production in Thailand experienced a significant decline of 11.02% in April from the previous year, with total units produced amounting to 104,667, according to the Federation of Thai Industries (FTI). This decrease follows a more substantial drop of 23.08% year-on-year in March. The FTI attributed April’s reduced production figures to long holidays during the month. For the January to…

  • Business News

    Thai industries launch initiatives to boost SMEs post-pandemic

    New initiatives by the Federation of Thai Industries (FTI) aim to bolster local entrepreneurs, particularly small and medium-sized enterprises (SMEs) still grappling with the effects of the pandemic. The FTI is focusing on critical sectors such as agribusiness and the auto parts industry to foster resilience and growth. Efforts are being made to help SMEs become more competitive through the…

  • Cannabis

    Thailand faces cannabis reclassification deadline

    The Government of Thailand faces a rapidly approaching reclassification deadline set by cannabis advocacy groups. Cannabis Future Network, a prominent pro-cannabis group, stated last week that whether the Public Health Ministry intends to fully or partially reclassify cannabis, the decision must be backed by scientific evidence. The group has given the government 15 days to substantiate its stance. Reclassifying cannabis…

  • Business News

    Thailand’s business confidence drops amid wage hike concerns

    Business confidence in Thailand took a hit as the Thai Industries Sentiment Index (TISI) dropped in April, reflecting entrepreneurs’ concerns over a slew of economic pressures, including a proposed daily minimum wage increase. The TISI, a measure of the mood in the industrial sector, registered at 90.3 points, a decrease from the 92.4 points recorded in March, as reported by…

  • Business News

    Thai industry leader defends Bank of Thailand’s financial autonomy

    Federation of Thai Industries (FTI) Vice Chairman Montri Mahaplerkpong voiced opposition to any proposals that would impede the Bank of Thailand‘s (BoT) authority over its financial stability management. Montri argued that the government should explore more palatable solutions to its disagreement with the BoT over policy rates, rather than attempting to curtail its power, which he sees as a contentious…

  • Business News

    Thailand’s longest onshore gas pipeline launched by PTT

    PTT President Auttapol Rerkpiboon announced the opening of Thailand’s longest onshore gas pipeline. The 417-kilometre pipeline, previously delayed due to Covid-19, will secure the gas supply across seven provinces, supporting power generation, industrial operations, and transportation. As part of PTT‘s fifth-phase development, the pipeline extends from the company’s gas separation plants in Rayong to Nontha Buri, facilitating a gas transport…

  • Business News

    Thailand’s economic growth forecast revised down

    The Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB) has revised Thailand’s economic growth forecast downward from a range of 2.8 to 3.3% to 2.2 to 2.7% for the year. The revised outlook is due to a slowdown in exports, which is negatively affecting the manufacturing sector. The panel also flagged a decrease in export expansion from 2% to…

  • Thailand News

    Thai chamber opposes proposed minimum wage increase

    The Thai Chamber of Commerce (TCC) is in dispute with the government over its proposal to increase the minimum daily wage to 400 baht for workers all over the country. The proposed wage increment is expected to take effect in October. Speaking on the issue, Poj Aramwattananont, Vice-President of the TCC and the Board of Trade of Thailand, painted the…

  • Business News

    Thai renewable energy industry urges govt to revise trade system

    The Federation of Thai Industries’ Renewable Energy Industry Club urged the government to revise the country’s electricity trade system from the longstanding enhanced single buyer (ESB) model, arguing it hampers the growth of renewable energy. The ESB structure, which designates the Electricity Generating Authority of Thailand (EGAT) as the sole entity that sells electricity to the public, is seen as…

  • Business News

    Thai car production takes a hit with 23.08% decline in March

    Thailand’s car production experienced a significant downturn of 23.08% in March compared to the same period last year, producing only 138,331 units, according to data from the Federation of Thai Industries (FTI). This follows a year-on-year decline of 19.28% in February. Over the first quarter of the year, car production has decreased by 18.45% year-on-year, amounting to 414,123 units. According…