Federation of Thai Industries
- Business News
Taxing decisions: Thai businesses brace for higher import duties
Thailand’s business entrepreneurs are leaning towards higher import tariffs should the government forge ahead with its ambitious tax reform plans, according to a fresh poll from the Federation of Thai Industries (FTI). This survey follows hot on the heels of Finance Minister Pichai Chunhavajira unveiling a set of tax reform proposals designed to swell state coffers, fuel national development, sharpen…
- 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 auto industry brakes as production target stalls
Thailand’s auto industry is stuck in first gear, with car production now expected to fall short of the 1.7 million target for 2024 as sales and exports hit a serious slump. The Federation of Thai Industries (FTI) warns that car manufacturing could face another downgrade this year, with officials predicting a sharp drop from the original target of 1.7 million…
- 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,…
- Business News
Thailand’s bike boom hits a brake with debt drag
Thailand’s motorcycle manufacturing output is expected to continue its decline in the second half of the year due to high household debt and a weak economy, according to the Federation of Thai Industries (FTI). The FTI Vice-Chairman and spokesperson for the federation’s Automotive Industry Club, Surapong Paisitpatanapong, commented on the challenging economic conditions. He noted that while the motorcycle industry…
- 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
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
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
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…
- 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 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
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……
- 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…
- 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…
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