Connect with us

Business

Thailand’s marine industry unites around single yacht show

The Thaiger

Published 

 on 

Thailand’s marine industry unites around single yacht show | The Thaiger
  • follow us in feedly

The fourth Thailand Yacht Show & RendezVous has now wrapped up with many of the exhibitors praising the new format and noting the sales and contacts made during the four day marine exhibition. The exhibit was held between January 10-13 at the Royal Phuket Marina.

Leading international yacht dealers, brokerage houses, charter agencies and marine suppliers were there to showcase their brands, complemented by luxury property developers and a collective mix of lavish lifestyle products. With a decisive show of unity, the industry’s global players joined Thailand’s key marine tourism stakeholders – including a strong attendance of representatives from national and local government – who have all thrown their support behind TYS’s 4-year mission to open up Thai waters to foreign yacht tourism and grow the industry.

“The Thai Government remain unswerving in their determination to support and grow the yachting industry, and bring much-needed cash into local businesses, by changing regulations where necessary to enable foreign superyacht charter tourism. The private sector made it clear they wanted a single show in Phuket.

“The results speak for themselves, with confirmed yacht sales, lots of business transacted by exhibitors across all sectors, and good visitor numbers over the first three days,” said Andy Treadwell, CEO of show organisers Verventia.

Richard Allen, General Manager of Simpson Marine, said, “As ever, Simpson Marine had the biggest display of new yachts at the show, representing our brands Monte Carlo Yachts, Beneteau, Lagoon, Aquilla and Sanlorenzo.

“I am pleased to say we made some sales during the show itself and have a number of other negotiations to conclude.”

Speaking about the quality of visitors this year, Andrew de Bruin, GM of Multihull Solutions said, “Multihull Solutions were very pleased to again join the Thailand Yacht Show as an exhibitor with three yachts displayed in the marina.

“The quality of visitors was top rate and our vessels received great exposure. The joining together of all the shows is a definite winner for all involved and we look forward to booking space in next year’s event at the first opportunity.”

The Thailand Yacht Show has been a key industry and government focus for changing local regulations to attract more international superyachts to the country, and results are beginning to show. Bloomberg’s latest global superyacht tracker1 recorded movements of superyachts between November 2018 and January 2019, and Thailand placed fourth as a winter destination behind Sint Maarten, St. Barts, and Antigua, welcoming an influx of superyachts during the Christmas and New Year peak season.

“The single show concept has proved to be a huge success for the industry. We will continue to work closely with the Thai government and the private sector to hopefully get the changes to the tax regulations we need, and will build on this year’s success to make 2020 even bigger and deliver a strong ROI for all parties,” added Andy Treadwell.

Thailand's marine industry unites around single yacht show | News by The ThaigerThailand's marine industry unites around single yacht show | News by The Thaiger

Keep in contact with The Thaiger by following our Facebook page.



Read more headlines, reports & breaking news in Phuket. Or catch up on your Thailand news.

If you have story ideas, a restaurant to review, an event to cover or an issue to discuss, contact The Thaiger editorial staff.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

Top 10 countries for investment in Covid era – World Trade Group

The Thaiger

Published

on

Top 10 countries for investment in Covid era – World Trade Group | The Thaiger

“Where to invest?”. Where is the next ‘good thing’ as the world starts to look to opportunities and new business models? Looking around the world, and perusing stock markets, there continues to be some traditional businesses failing but others thriving during the Covid-19 era.

Investors look to countries with economical and political stability when choosing to invest money and unveil new businesses. Whilst global depression, drops in GDP, bankruptcy, and a realignment of trade and supply chains swirls around us, there will be emerging opportunities too. According to London Post, CEO World Magazine and the World Trade Group, some countries are very fortified to withstand an economic crash.

“They have a lot of internal growth drivers with minimal affiliation with global markets. They will be the least affected. The best countries to invest in 2020 are these fortified countries.”

Their report lists four unique factors motivate an individual or a business entity to invest in a country. These are the country’s natural resources, markets, efficiency, and strategic assets.

The London Post has used this information and parameters to compile The 2020 Best Countries to Invest In ranking based on a broad list of ten equally weighted attributes: corruption index, tax environment, economical stability, entrepreneurial freedom, innovativeness, skilled labor force and technological expertise, infrastructure, investor protection, red tape, and quality of life.

Somehow, and perhaps surprisingly to people who run businesses in Thailand, the Land of Smiles has scraped into the Number 2 position. 4 of the recommended Top 10 countries are in south east Asia.

1. Croatia

The country’s growth is amazing because in 2019, it was ranked 25 positions lower in this list. The European country’s stable economy, coupled with an entrepreneurial and innovative population, has made foreign investors very optimistic about the “progressive business environment”. In the first quarter of 2019, Croatia had a whooping foreign direct investment of more than $389 million.

2. Thailand

Thailand occupies the second position on the 2020 Best Countries to Invest In ranking. The country has been able to capitalise on trade tension between the US and China. In the first nine months of 2019, the country received a 69% increase in the total value of Foreign Direct Investment applications, as compared to 2018. 65% of these applications were led by the automotive, electronics and electrical, and digital sectors. The growth of the Thai market and momentum indicators remain strong. Forbes listed the country as the 8th best-emerging market of 2020.

3. The United Kingdom

The UK is economically stable and has a skilled labour force and technological expertise. It is the sixth country attracting inflow of foreign direct investment. In the first 7 months of 2019, the US and Asian tech firms invested $3.7 billion in tech companies in the country, thus surpassing the $2.9 billion invested in the previous year.

“Despite Brexit, the UK remains the fifth largest economy in the world and has an industrialised and competitive market.”

4. Indonesia

With about 650 listed equities and a market cap exceeding $500 billion, Indonesia boasts of one of the largest Asian stock markets. The report claims the Indonesian consumer market is largely undiscovered, hence its huge potentials.

“The robust economy and heavy investment in transportation and infrastructure make this country worthy of your investment. The only downside is that non-citizens are limited to only leasehold properties.”

5. India

According to the UN, India was one of the top 10 countries with the highest inflow of foreign direct investment. India has been in the top 5 of the best countries to invest in since 2019.

“The Asian giant has invested so much in research and development and, and she is among the top countries having a comparatively skilled workforce.”

6. Italy

Italy is one of the top countries attracting investors in 2020. This level of economical stability, its robust manufacturing sector, and the country’s stable political environment make it a good choice for investment.

7. Australia

Australia boasts of more than 25 years of continued economic growth. It is the 9th country with the most direct foreign investment in 2020. Australia has been in the top 10 for ten years now.

8. Vietnam

Like Thailand, Vietnam has capitalised on the trade tension between China and the US.In recent years China’s southern neighbour has gradually risen to become a formidable manufacturing hub. This growth became even more evident when multinational corporations like Samsung began relocating are from China into Vietnam.

9. Latvia

Latvia boasts of macroeconomic and political stability as well as good accessibility to large markets and a very business-friendly environment, according to the report. The government encourages investors by offering them a wide variety of advantages. Investors are offered significant cost advantages, including real estate expenses, competitive tax rates, and competitive labor.

10. Singapore

Aside from being the 10th best country to invest in 2020, Singapore is also the 10th country attracting the most foreign investments. Singapore’s strong economic outlook has made many investors very optimistic. The country’s world-class business-friendly environment is one major attribute attracting investors.

SOURCE: London Post

Keep in contact with The Thaiger by following our Facebook page.
Continue Reading

Expats

Foreigners with work permits to be allowed back into Thailand on case by case basis

Jack Burton

Published

on

Foreigners with work permits to be allowed back into Thailand on case by case basis | The Thaiger
FILE PHOTO

Foreigners with work permits or permission from the Labour Ministry (and other some other government agencies) will be allowed to enter the country after registration, under phase 3 of the lockdown relaxation, which begins Monday. The Foreign Ministry made the announcement today.

The Foreign Ministry has told Thailand’s foreign chambers of commerce about the relaxation. Eligible foreign nationals are invited to apply at Thai Embassies in their home countries. They must have health insurance covering Covid-19 treatment valued at at least 3 million baht and a health certificate. They will also be subject to 14 day quarantine on entry to Thailand, either in a state facility or in a private facility, at their own cost.

“Permission to enter does not cover all groups as, we are proceeding step by step.”

Here are the details of the letter sent to all foreign chambers of commerce in Thailand…

1. The Royal Thai Government’s invocation of the Emergency Decree on Public Administration in Emergency Situations BE2548 (2005) (No I) dated 25 March BE2563 (2020) to control the outbreak of the Coronavirus Disease (Covid-19), closes the entry into the Kingdom of non-Thai nationals, in accordance with the laws on communicable diseases and immigration. However, clause 3 of the Regulation issued under the said Emergency Decree, also allows non-Thai nationals who either possess a valid work permit or have already been granted permission from a Thai government agency to work in the Kingdom, to apply for permission to enter the Kingdom.

2. It is, however, requested that only those in urgent need to enter the Kingdom submit an application for entry. The Ministry of Foreign Affairs, in consultation with the Board of Investment and the Ministry of Labour, will consider all requests for entry on a case by case basis, taking into account urgency and economic importance, among others.

3. The procedure for non-Thai nationals who wish to submit an application for entry are as follows:

3.1 Contact the Royal Thai Embassy or the Royal Thai Consulate-General in their country of departure to apply for ‘Certificate of Entry into the Kingdom of Thailand” at least 10 working days before the date of intended departure. The applicants must present:

(1) a copy of his work permit or copy of a letter of permission issued by a Thai Government agency (in most cases, by the Ministry of Labour) to work in Thailand;

(2) a valid health insurance policy covering all expenditures of medical treatment, including Covid-19 worth at least 100,000 US dollars.

3.2 The Thai Embassy/Consulate-General will forward the application to the Ministry of Foreign Affairs in Bangkok. If the application is approved, the Thai Embassy/Consulate-General will be instructed to issue the “Certificate of Entry into the Kingdom of Thailand” and appropriate visa to the applicant.

4. At the port of departure/embarkation (eg airline check-in counter), the approved applicant is required to present (I) a “Certificate of Entry into the Kingdom of Thailand” issued by the Royal Thai Embassy Consulate-General; (II) a completed and signed “Declaration Form” obtained from the Embassy/Consulate-General; (III) a “Fit to Fly Health Certificate” issued no more than 72 hours before departure; and (IV) health insurance covering all expenditures of medical treatment, including Covid-19, while traveling to Thailand in an amount of at least 100,000 US dollars.

5. Upon entry into the Kingdom, non-Thai nationals will be subjected to a 14-day state quarantine at a government-designated Alternative State Quarantine (ASQ) facility at their own expenses, and obliged to comply with the government’s disease prevention measures pursuant to clause 11 of the Regulation issued under Section 9 of the said Emergency Decree.

SOURCE: Nation Thailand

Keep in contact with The Thaiger by following our Facebook page.
Continue Reading

Coronavirus (Covid-19)

Ministry of Foreign Affairs announces re-entry procedures for foreigners

Anukul

Published

on

Ministry of Foreign Affairs announces re-entry procedures for foreigners | The Thaiger

Yesterday the Ministry of Foreign Affairs sent out a letter to all Foreign Chambers of Commerce in Thailand explaining the details and procedures for non-Thai nationals to re-enter the country. This procedure is not for only for people who legally work in Thailand. Those who don’t have a work permit yet, but your new employer can get permission from the Ministry of Labour, you can apply to enter Thailand.

Those who urgently need to enter the Kingdom may submit an application for entry. The Ministry of Foreign Affairs says it has consulted the board of Investment and the Ministry of Labour and they will consider all requests for entry on a case-by-case basis, taking into account the level of importance and urgency.

Here are the procedures for non-Thais wishing to submit an application for entry:

Contact the Royal Thai Embassy or the Royal Thai Consulate-General our country of departure.

  1. Apply for a ‘Certificate of Entry into the Kingdom of Thailand (note that 10 working days before departure)Documents required
    • Copy of work permit
    • Copy of letter of permission (issued by Thai government)
    • Valid Health insurance (covering all expenditures of medical treatment, including Covid-19 worth at least 100,000 US dollars)
    • If the application is approved the Thai Embassy will be instructed to issue the “Certificate of Entry.”
  2. At the port of departure the following documents will be required before you can be allowed reentry.
    1. a certificate of entry
    2. A complete and signed ‘Declaration form ‘
    3. a “fit to fly” certificate (issued no more than 72 hours before flight)
    4. Proof of health insurance covering all expenditures.
  3. Upon entry into the Kingdom, all arrivals nationals will be subjected to a mandatory 14 day state quarantine.

Ministry of Foreign Affairs announces re-entry procedures for foreigners | News by The ThaigerMinistry of Foreign Affairs announces re-entry procedures for foreigners | News by The Thaiger

 

Keep in contact with The Thaiger by following our Facebook page.
Continue Reading

Trending