Federation of Thai Industries
- Thailand News
Thai motorcycle exports surge 157% in October to 6.5 billion baht
Motorcycle exports from Thailand are on the rise, driven by increasing demand for completely knocked-down (CKD) units, according to the Federation of Thai Industries (FTI). The surge in exports during October reflects a growing interest from overseas markets, particularly in Asia, where countries are placing more purchase orders for reassembly purposes. Surapong Paisitpatanapong, Vice Chairman of the FTI and spokesperson…
- Thailand News
Thailand’s automotive production lowest since pandemic
Thailand’s automotive sector faces a significant downturn in 2024, with the Federation of Thai Industries (FTI) projecting annual vehicle production to hit 1.5 million units, marking the lowest output since 2021’s pandemic-affected figures. Speaking at a briefing today, November 25, FTI automotive industry group spokesperson Surapong Paisitpatnapong announced this second downward revision of the year. The federation had previously lowered…
- Thailand News
FTI fuels the push for a public-private energy plan in Thailand
The Federation of Thai Industries (FTI) renewed its call for the establishment of a public-private committee on energy management, urging the Thai government to take the proposal seriously in light of potential shifts in America’s energy policy under Donald Trump’s presidency. The FTI’s proposal aims to enhance national energy management and address the complexities arising from global energy dynamics. The…
- Thailand News
Thailand’s industrial sector hit by mass layoffs amid economic woes
Mass layoffs have swept through Thailand’s industrial sector, with approximately 2,600 factory workers losing their jobs over the past two days. Financial difficulties have compelled employers to downsize their operations, leading to significant disruptions in the workforce. An electric vehicle manufacturer in Chachoengsao announced that 600 workers will be laid off, effective December 1. This decision, communicated in a letter…
- Thailand News
Thailand’s vehicle production hits the brakes in a sharp downturn
The automotive industry in Thailand has experienced a significant downturn in vehicle production, with September 2024 seeing a total of 122,277 units produced, marking a 25.48% decrease from the same period last year. This decline reflects a 15.78% reduction in vehicles manufactured for export, totalling 87,666 units, and a 42.31% drop in vehicles produced for domestic sales, amounting to 34,611…
- Business News
FTI calls for fair e-commerce platform playing field
The Federation of Thai Industries (FTI) is urging the government to enforce stricter regulations on foreign e-commerce platforms and control the influx of low-cost products into Thailand. This call to action comes after a recent survey revealed that 35.1% of local entrepreneurs experienced a decline in sales due to inexpensive imports sold online. Vice-Chairman of the FTI, Peekthong Thongyai spoke…
- Politics News
FTI rattled by PM Srettha’s ousting: Investors on edge
The Federation of Thai Industries (FTI) voiced alarm following the Thai Constitutional Court‘s shock decision to remove Prime Minister Srettha Thavisin from office yesterday. Kriengkrai Thiennukul, Chairman of the FTI, warned that the ruling could put a brake on both local and foreign investment as investors rethink their strategies amid the political turmoil. Thailand is already wrestling with major economic hurdles,…
- Thailand News
Thai-ing up: China’s industrial trade reshapes Southeast Asia
Chinese industrial products are increasingly penetrating the Southeast Asian market, significantly impacting Thailand’s trade dynamics. The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) reports that this influx has diminished Thailand’s market share and contributed to a trade deficit with China amounting to nearly US$20 billion. Chinese online retailer Temu’s recent entry into Thailand is poised to exacerbate this…
- 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…
- Thailand News
FTI disappointed by the underutilisation of biomass and biogas
The Federation of Thai Industries (FTI) expressed discontent with the state’s plan to reduce biomass and biogas fuels in the upcoming power development plan (PDP). The FTI advocates for maintaining or increasing the proportion of these fuels to better utilise agricultural waste. Scheduled for enforcement from 2024 to 2037, the PDP promotes a substantial increase in renewable power, with a…
- 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
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
Thailand’s border trade faces slowdown amid regional politics
The Federation of Thai Industries (FTI) predicts a slowdown in Thailand’s border trade for the current year due to political turmoil in Myanmar and economic issues in other neighbouring nations. Myanmar, Laos, Malaysia, and Cambodia, nations that share borders with Thailand, are facing obstacles to their economic growth, says Montri Mahaplerkpong, the FTI Vice-Chairman. Among the challenges, he highlights the…
- 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 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…
- Business News
Thailand’s industrial sentiment index drops in December amid economic challenges
A recent announcement by the Federation of Thai Industries (FTI) revealed that industrial sentiment in Thailand took a downturn in December, recording a decline from 90.9 to 88.8. This significant drop was attributed to a combination of factors, namely the weakening spending power of consumers and prevailing export concerns. The FTI, which is responsible for tracking fluctuations in various business…
- 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 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…
- 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
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…
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