Federation of Thai Industries
- Business News
Bangkok motor show fuels surge in electric vehicle demand
Demand for electric vehicles (EVs) is anticipated to surge at the Bangkok International Motor Show, with the Federation of Thai Industries (FTI) attributing the boost to the release of new EV models and the launch of promotional sales campaigns. Automakers are enticing potential customers with competitive pricing and low interest rates, particularly aiming at those planning to purchase new vehicles…
- 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 industrial sentiment dips despite tourism boost
The Federation of Thai Industries (FTI) reported a minor dip in the industrial sentiment index for February, which fell to 90.0 from 90.6 in the preceding month. This decline was attributed to a slowdown in both domestic demand and exports, despite a boost from the tourism sector. The FTI revealed that household concerns over high living costs and debt issues…
- Business News
Energy Absolute CEO runs for top spot in FTI
The race for the top position at the Federation of Thai Industries (FTI) has heated up, as vice-chairman Somphote Ahunai, also the CEO of Energy Absolute, a company specialising in renewable energy and electric vehicles, has thrown his hat into the ring. The FTI, a significant body in Thailand, boasts a membership of over 15,000 nationwide. The current chairman, Kriengkrai…
- Business News
Revving up: Thailand’s car production to rise by 3.17% in 2024, predicts FTI
The Federation of Thai Industries (FTI) predicted a 3.17% rise in Thailand’s car production this year, reaching an estimated total of 1.9 million units. This projection comes despite the less-than-anticipated total car production of 1.84 million units last year, falling short of the 1.85 million units target. According to Surapong Paisitpatanapong, Vice-Chairman and spokesperson for the FTI’s Automotive Industry Club,…
- Business News
Thailand’s car production hits brakes, sees 15.75% drop in December
Thailand’s car production experienced a significant drop of 15.75% in December, compared to figures from the previous year, marking the fifth consecutive month of decline, according to the Federation of Thai Industries (FTI). The downturn resulted in only 133,621 units being produced, largely due to a reduction in pickup truck output. This figure is a stark contrast to November’s year-on-year…
- Business News
Thai SMEs threatened by proposed minimum wage hike and high loan rates
The Federation of Thai Industries (FTI) warned that small and medium-sized enterprises (SMEs) could be significantly affected by the proposed daily minimum wage hike and high loan interest rates. This comes as the government persists in its efforts to increase wages. Towards the end of 2023, a resolution was reached by the tripartite wage committee, composed of representatives from the…
- Business News
Thai tourism sector optimistic about Chinese arrivals despite economic concerns
Despite the Thai tourism sector experiencing a drop in Chinese visitors last year, the government remains optimistic about an increase in arrivals this year, targeting eight million visitors from the mainland. This optimism is fuelled by the prospect of the visa-free policy becoming permanent in March. The Chinese government has been advocating for its citizens to travel domestically during the…
- Thailand News
Thai business bounces back: Surprising catalysts revealed by FTI
The Federation of Thai Industries (FTI) explained the significant rise in Thailand’s Industry Sentiment Index (TISI) after a five-month slump including a tourism boom and strategic government measures. Breaking through the economic gloom, the TISI soared to 90.9 points in November, marking a triumphant comeback after five consecutive months of decline, according to the FTI. In stark contrast to October’s…
- Business News
Thai high-value sectors to boost economy, exports in 2024 says FTI
The Federation of Thai Industries (FTI) forecasted that the country’s high-value sectors such as agriculture, food, automotive, and bio-, circular and green (BCG) manufacturing will bolster the economy and exports in the coming year. The BCG initiative, launched as a national agenda in 2021, aligns with global environmental campaigns, encouraging manufacturers to adopt environmentally friendly technologies. Kriengkrai Thiennukul, FTI chairman,…
- Business News
Thai Cabinet reshuffle could impact economy and foreign investment
The Thai Cabinet, currently conducting mobile meetings in Nong Bua Lam Phu – the country’s poorest province, is speculated to face potential reshuffles in leadership or dissolution in the coming year, intensifying the political activities across various Thai provinces. Such changes could pose a risk to the country’s economy, given the current administration is only a few months old. The…
- Business News
Thai motorcycle production to exceed 2.1 million units amid tourism rebound
The Federation of Thai Industries (FTI) is forecasting that motorcycle production this year will surpass the initial target of 2.1 million units. The revival of the tourism sector and the easing of the global semiconductor shortage are cited as the primary factors for this optimistic outlook. Surapong Paisitpatanapong, the vice-chairman and spokesperson for the FTI’s Automotive Industry Club, attributes this…
- Business News
Shocking surge: Chinese EV makers eyeing membership in FTI
Chinese electric vehicle (EV) makers are expressing interest in joining the Federation of Thai Industries (FTI) to support the growth of Thailand’s emerging EV sector. The FTI is currently in discussions with Chinese automobile manufacturers and aims to reach a decision shortly, according to Surapong Paisitpatanapong, vice-chairman of the FTI and spokesman for the FTI’s Automotive Industry Club. He said……
- Business News
Thai entrepreneurs urge government to prioritise reducing energy costs
A recent survey by the Federation of Thai Industries (FTI) has shown that the majority of entrepreneurs are urging the new government to fulfil its promise to lower electricity costs, as outlined in a memorandum of understanding (MoU) signed by the Move Forward Party and seven other political parties. Of the 252 executives across 45 industries surveyed, 75.8% voted for…
- Economy News
Power struggle: JSCCIB takes on govt to lower electricity prices
Tensions are running high in Thailand as the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has declared war on the government in a bid to bring down the nation’s soaring electricity prices. The committee, comprised of representatives from major business groups, is asking Prime Minister Prayut Chan o cha to reconsider the electricity bill calculation and reduce the…
- News
FTI warns foreign businesses will invest elsewhere unless govt makes energy cheaper
The Federation of Thai Industries (FTI) warned the government that foreign businesses will not invest in Thailand if it maintains its unsustainable utility bills. The FTI insists investors will look to their more competitive Asian neighbours and set up camp there if the government does not make its energy cheaper. FTI Vice President Sompote Ahunai said the government needs to…
- Business News
Opposition to foreign land ownership in Thailand
The government scheme to allow foreigners to buy one rai of land may have been met by enthusiasm in the expat community but not everyone has welcomed the idea. The Interior Ministry’s proposal to allow foreigners to own a bit of land if they invest 40 million baht is seen by many as a short-term fix to the kingdom’s economy…
- 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…
- Tourism News
Hospitality sector, tourism operators call for entry restrictions to be dropped now
Businesses, particularly those in the tourism and hospitality sectors, say July 1 – the date the government hopes to declare Covid-19 endemic – is too long to wait for restrictions to be lifted. As operators watch what’s happening in neighbouring countries, Thailand’s tourism sector is feeling anxious. According to a Bangkok Post report, Chamnan Srisawat from the Tourism Council of…
- Tourism News
FTI wants Test & Go dropped, all entry restrictions lifted for vaccinated arrivals
The Federation of Thai Industries is urging the government to ditch the Test & Go scheme and to lift all entry restrictions for vaccinated tourists. According to a Bangkok Post report, the industry body is calling for an end to quarantine and PCR testing in a bid to restore the country’s shattered tourism sector. Chairman Supant Mongkolsuthree says he will…
- Thailand News
Thai car production expected to grow
Car production in Thailand is expected to grow, according to the Federation of Thai Industries. With the rates of Covid-19 infections falling and the careful management of the semiconductor shortage, the target of 1.6 million units is expected to be surpassed. Lockdowns and other restrictions are being eased in many countries that buy cars produced in Thailand, which means that…
- Thailand video news
Thailand News Today | Tropical storm update, Thanathorn faces judgment | October 13
The Prime Minister’s announcement of a November 1st reopening has sparked mixed reactions from different sectors. Meanwhile, Phuket and Koh Samui said they’re easing entry restrictions for domestic arrivals, and authorities are warning, yet again, of another tropical storm.
- Tourism News
Thai industry bodies encouraged by tourism re-opening plan
The chairman of the Federation of Thai Industries has welcomed the plan to re-open Thailand to vaccinated tourists from low-risk countries. Supant Mongkolsuthree says the planned November 1 re-opening will accelerate economic growth and increase business confidence. According to a Bangkok Post report, Supant predicts the return of foreign tourism could see GDP growth achieve its target of 0% –…
- Tourism News
FTI warns Thailand must reopen to international tourists
With such a long time since tourists were welcomed into Thailand, the Federation of Thai Industries fears that potential tourists may be wandering away from Thailand. The FTI chairman warned that the window may be closing to still attract these travellers. They say absence makes the heart grow fonder, but as Thailand’s closure to most international travellers stretches to more…
- Covid-19 News
Private sector says lockdowns won’t work without vaccines, mass testing
Industry representatives in Thailand say Covid-19 lockdowns won’t work unless accompanied by mass screening and vaccination. Supant Mongkolsuthree from the Federation of Thai Industries has expressed scepticism that the proposed tightening of restrictions in 13 high-risk provinces will bring the virus under control. Instead, he says the proposal could cost the economy around 100 billion baht and will be ineffective…
- Covid-19 News
Thai industry representatives call on Health Minister to roll out vaccines in factories
Public Health Minister Anutin Charnvirakul will meet with the Federation of Thai Industries next week as the FTI calls for Covid-19 vaccines to be rolled out in factories. FTI chairman Supant Mongkolsuthree says the factory rollout is a priority as the surge in infections is causing some sites to close. To date, just 10% of around 10 million industrial workers…
- Environment News
Calls for factories to be moved out of residential areas after blaze at plastics plant
The Federation of Thai Industries is calling on the government to move factories away from residential neighbourhoods, following the devastating blaze in Samut Prakan, outside Bangkok. According to a Bangkok Post report, FTI chairman Supant Mongkolsuthree suggests factory owners could be given incentives to relocate, such as a reduction in corporate income tax and land tax. “Factory relocation requires support…
- Covid-19 News
Stricter “bubble and seal” measures implemented at factories
Factories in and around Bangkok are implementing rigorous bubble and seal measures in accordance with government’s instructions in an effort to stop the spread of Covid-19. The Bangkok Post reports that workers face tough travel restrictions, whereby they may be confined to the factories or can only travel between their place of work and their dormitory. Already, there have been…
- Covid-19 News
Thai industry body says government may miss vaccination target due to supply issues
The Thai government is being warned that ongoing issues with Covid-19 vaccine supply may cause it to miss its target of obtaining 10 million doses in June. The Federation of Thai Industries says the supply problems will impact the country’s vaccination rollout and is calling on the government to accelerate the process by allowing private companies to import doses from…
- Covid-19 News
Thai businesses frustrated over limited choice of vaccines, slow pace of rollout
Business and tourism representatives are expressing growing anger over the slow pace of Thailand’s vaccine rollout and the limited number of vaccines on offer. Their frustration comes as other countries around the world begin to see encouraging results from their vaccination efforts. And, while the latest rise in Covid-19 infections can be partly attributed to the presence of the so-called…
