Federation of Thai Industries
- 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
FTI seeks Chinese investment boost in Thai EV, food, and healthcare sectors
The Federation of Thai Industries (FTI) is seeking to boost Chinese investment in Thailand, focusing on the electric vehicle (EV), food, and healthcare sectors, through increased business collaboration with Beijing. Kriengkrai Thiennukul, chairman of the FTI, recently met with the Chinese ambassador to Thailand, Han Zhiqiang, to discuss potential investment opportunities. Kriengkrai envisions Thailand as a production base for Chinese…
- 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…
- Thailand News
Thai industries want to produce energy to combat rising costs
A survey by the Federation of Thai Industries (FTI) revealed that Thailand’s industrial sector wants to produce its own electricity to combat the rising cost of energy but they need government support to make it work. The Office of the Energy Regulatory Commission announced in August this year that the fuel adjustment rate for electricity would be raised to about…
- 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…
- Covid-19 News
Thai industry body confident government will curb spread of Omicron variant
The Federation of Thai Industries says it believes the government can slow the rate of Covid-19 infection, despite the alert level being raised yesterday. The level moved from 3 to 4, with officials asking people to work from home if possible and to avoid all non-essential travel. However, Kriengkrai Thiennukul from the FTI is confident Thailand will cope. “The FTI…
- 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…
- Video
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…
- Economy News
Industry body says Thai government must borrow another 1 trillion baht
The chairman of The Federation of Thai Industries is calling on the government to borrow another 1 trillion baht to kick-start the economy in 2022. Supant Mongkolsuthree says the extra funds are desperately needed to boost an economy devastated by the fallout from the pandemic. According to a Bangkok Post report, he says the government’s borrowing of 500 billion baht…
- 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
Multiple business associations oppose lack of Bangkok lockdown
After the government announced yesterday a one-month closure of construction camps, the Federation of Thai Industries and many other business associations complained that the action was too weak. The FTI and other business groups believe that a full lockdown is necessary to control Covid-19 outbreaks in Bangkok and half-measures like this are ineffective at best. The federation is one of…
- 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…
- Covid-19 News
Industry representatives call on government to prioritise vaccination, include tourism workers in first rollout
The Joint Standing Committee on Commerce, Industry and Banking is urging the government to make the rollout of Covid-19 vaccines a national agenda and to prioritise those working in the tourism industry. According to a Bangkok Post report, the JSCCIB says tourism workers need to be vaccinated to keep them safe while interacting with travellers. It has also suggested that…
- Business News
Approval sought for multi-billion-baht Phuket medical hub
Industry officials are seeking the go-ahead for a project to transform over 140 rai of government land in Phuket into a world-leading medical hub. The project is budgeted at 3 – 4 billion baht, depending on which report you read. Kitkong Tantijaraswarodom, from the Federation of Thai Industries, believes the development of a medical and wellness hub in the sub-district…
- Business News
PM urges Thai industry representatives to adjust to “new normal”
PM Prayut Chan-o-cha is urging Thai business representatives to accept and adapt to the new way of doing things in the aftermath of the Covid-19 crisis. He was speaking during a meeting with the Federation of Thai Industries, where he called for the private and civil sectors to work with the government to get the economy going again. In talks…
- Covid-19 News
Thailand’s GDP to contract up to 5% for 2020 – business thinktank
Thailand’s GDP is expected to contract between 3-5% for 2020, and exports by up to 10%. The predictions from Suphan Mongkolsuthee, president of the Federation of Thai Industries and chairman of the private sector joint committee. He also believes that the Thai economy has probably reached its ‘low point’ and will start recovering from now. He said that, as the…
- Business News
Industry group calls for further cut in Thai policy interest rate
“Thai private sector, recently adjusted downward the export growth projection for this year to 2.9 – 3%.” The Federation of Thai Industries have their hopes set on the Monetary Policy Committee of the Bank of Thailand making another cut in the policy interest rate, currently set at 1.5%. With the US Fed looking to drop its interest rate this week,…
