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…

  • 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

    Crisis in Thai industry: Are major collapses on the horizon?

    Thailand’s industrial sector is teetering on the brink of a crisis as rapid technological advancements, fierce competition from China, and a planned hike in the daily minimum wage threaten to trigger a massive collapse. With two Japanese car giants, Subaru and Suzuki, set to shut down their manufacturing operations in Thailand, the situation is dire. KKP Research reports that 1,700…

  • 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…

  • Thailand News

    Thailand’s tech exports face threats as Vietnam takes lead

    Thailand’s export sector, which contributed 54.5% of GDP last year excluding services, faces potential disruption due to rapid technological advancements. Vietnam has surpassed Thailand in exporting high-tech products, emerging as a key production base for the downstream electronics industry. The global market’s recovery, particularly in computers, semiconductors, and smartphones, has driven this demand. Thailand mainly exports intermediate electronics products like…

  • 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…

  • Thailand News

    Thai labour minister embroiled in minimum wage dispute

    The labour minister found himself in the midst of a heated debate today as employee and employer representatives presented their contrasting views on a proposed minimum wage increase. The conflicting opinions were expressed ahead of a crucial tripartite committee meeting scheduled for tomorrow, May 14. The Thai Labour Solidarity Confederation and the State Enterprises Workers’ Relations Confederation were the first…

  • 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

    Euro EV sales dip but Thai operators charge ahead with optimism

    Despite a recent 11% drop in electric vehicle (EV) sales in Europe, Thai business operators remain optimistic about local EV market growth. They believe that the circumstances in Thailand significantly differ from those in Europe, making direct comparisons of the two markets inappropriate. The European EV market downturn, says Bloomberg, is attributed to factors such as high insurance and repair…

  • 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…

  • Business News

    Hyundai’s electrifying dismay: Thailand EV sales spark low

    Hyundai Mobility Thailand, the Korean automaker’s subsidiary, warns that this year’s electric vehicle (EV) sales in Thailand may fall short of the predicted 130,000 units. The company cites an ongoing price war amongst Chinese EV manufacturers as the primary obstacle, leading to unstable car prices and discouraging potential buyers. The managing director of Hyundai Mobility Thailand, Wallop Chalermvongsavej, noted the…

  • Business News

    Thai govt plan for energy cost surge amid Israel-Iran conflict

    Thailand’s Ministry of Commerce issued directives to state bodies to devise strategies to mitigate potential surges in energy costs in the event of an escalation in the Israel-Iran conflict. The directive follows Iran’s missile and drone assault on Israel, a retaliatory move against Israel’s alleged attack on Iran’s consulate in Damascus earlier this month. This marked the first direct attack…

  • Business News

    Thai industries fear trade slump due to Myanmar conflict

    The Federation of Thai Industries (FTI) voiced concerns over the escalating armed conflict in Myanmar, predicting a further slump in border trade and a surge in illegal workers from Myanmar into Thailand. The Thailand-Myanmar border trade, valued annually at 100 billion baht (US$2.7 billion), tends to suffer whenever conflict escalates, according to Kriengkrai Thiennukul, chairman of the FTI. “There are…

  • Business News

    Thai government plans 7% VAT on imported goods from May

    The Thai government, under the directive of Prime Minister Srettha Thavisin, is preparing to implement a 7% value-added tax (VAT) on imported goods valued at 1 baht and above, starting in May. Currently, goods sold for less than 1,500 baht (US$40) per parcel and imported into Thailand are exempt from VAT. Deputy Finance Minister Julapun Amornvivat announced these plans after…

  • Thailand video news

    Thailand Video News | Police catch British pedophile after 25 years in Thailand, Health ministry warns against consuming geckos for sexual prowess

    In this video, Alex unfolds the latest news across Thailand. From the arrest warrant for Deputy Police Chief “Big Joke” on money laundering charges to the capture of a long-time fugitive pedophile in the UK. Meanwhile, Bangkok’s Motor Show boosts electric vehicle sales, a Pattaya BBQ restaurant owner faces backlash for employee mistreatment, and preparations for the Songkran Festival include…

  • Business News

    Thai hotel industry resists proposed minimum wage hike

    The tourism industry has voiced its concerns over the recent approval by the tripartite wage committee to increase the minimum wage to 400 baht for four-star hotels in 10 key tourism cities, beginning with the Songkran holiday. Hoteliers argue that the implementation of the wage hike is unjust as the recovery from the pandemic has been uneven across the targeted…

  • Business News

    Thai domestic car sales slump hits 26% as pickup sector suffers

    The Federation of Thai Industries (FTI) reported a 26% year-on-year drop in domestic car sales for February, primarily affecting the pickup sector. This downturn is expected to hit a two-year low. The total number of cars sold in the country came to 52,843 units, a significant drop from the previous year’s 71,551 units. Despite the worrying sales slump, Surapong Paisitpatanapong,…

  • Business News

    Thailand’s car industry hits the brakes: Production plunges 20%

    With a significant decrease in production, Thailand’s car output experienced a 19.28% year-on-year slump in February, with the total units produced amounting to only 133,690, as reported by the Federation of Thai Industries (FTI). The numbers, attributed predominantly to the reduced production of pickup trucks and increased imports of electric vehicles (EVs), starkly contrast the 12.46% dip recorded in January.…

  • Business News

    Thai EV market shifts into gear with Chinese investment

    Major automobile companies are forecasting a rapid escalation in the Thai electric vehicle (EV) market, propelled by increased investment from Chinese EV manufacturers. This is anticipated to ignite a price war as manufacturers strive to lure consumers with competitive pricing. This viewpoint was shared by Narong Sritalayon, the managing director of Chinese automaker Great Wall Motor (GWM), in a statement…