industry
- Business News
MICE industry must prioritise people management to sustain growth
Game-changing People Management was the focus of a recent presentation at the TMX conference, one of the largest fairs dedicated to the meeting, incentive, convention and exhibition (MICE) industry. The discussion highlighted significant opportunities for growth and transformation within this expanding sector. The MICE industry is on a remarkable growth trajectory, with a projected compound annual growth rate (CAGR) of…
- Business News
Thailand’s oil reserves expansion faces financial challenges
Plans to bolster Thailand’s strategic petroleum reserve (SPR) are encountering pushback from industry executives due to financial constraints. Thailand’s Energy Minister, Pirapan Salirathavibhaga, spearheaded an initiative to increase national oil reserve security by expanding the SPR as detailed in the 2024 oil plan. Pirapan aims to increase Thailand’s oil reserves, both crude and refined, from 50 days to 90 days…
- Thailand News
Teen fried chicken seller resembles Blackpink’s Lisa, goes viral
A young fried chicken seller in Samut Prakan has become a local sensation due to her striking resemblance to Lalisa Lisa Manobal of the K-pop group Blackpink, featured in the viral video Rockstar. At Wat Asokaram market in Tambon Thai Ban, 36 year old Benyapa Muang Samut Prakan, better known as Gig, has been attracting attention alongside her 17 year…
- Business News
Thai cycle woes: Motorcycle sales hit brakes amid economic woes
Thailand’s motorcycle manufacturing and sales are experiencing a downturn this year, as the economy faces challenges from high household debt and weakened consumer purchasing power, according to the Federation of Thai Industries (FTI). FTI Vice-Chairman and spokesperson for the federation’s Automotive Industry Club, Surapong Paisitpatanapong revealed that economic uncertainty has led to cautious spending among consumers, compounded by recent layoffs…
- Thailand News
Thailand’s plant-based foods market to hit 45 million baht
Thailand’s plant-based food market is on track for significant growth, with projections from a recent workshop indicating a 10% increase in value, reaching 45 billion baht this year. This promising forecast was highlighted during a recently held workshop titled The Future of Essential Agricultural Products of Thailand: A Case Study of Plant-Based Food. The event was co-organised by the Trade…
- Business News
Thai industries sentiment index drops to 88.5 as layoffs rise
Thai Industries Sentiment Index (TISI) experienced another decline in May, dropping to 88.5 from April’s 90.3 points, as 15,000 workers have been laid off since the beginning of the year, according to the Federation of Thai Industries (FTI). Layoffs in the first five months of 2024 emerged as the TISI, which measures the manufacturing sector’s health, fell for the second…
- Search Engine Marketing (SEM)
How to get more clients via social media marketing
Social media has evolved beyond merely publishing images and disseminating memes, It has morphed into a potent mechanism that, when optimised appropriately, can forge enduring relationships with your visitors, ultimately transforming them into potential clients. Within this blog, we will illuminate the pathway to harnessing your social media presence for client cultivation. This includes comprehending which platforms are pivotal for…
- Thailand News
Thailand’s 44,410 trillion baht mineral reserves unveiled
Thailand harbours over 30 trillion tonnes of mineral reserves, with 40 types of minerals, estimated at a staggering value of 44,410 trillion baht, which could prove pivotal for securing the country’s raw material needs in the coming years, according to the Department of Mineral Resources (DMR). In a recent press conference, the DMR Director-General, Phichit Sombatmak revealed that the National…
- Thailand News
Crisis in Thai industry: Are major collapses on the horizon?
Thailand’s industrial sector is teetering on the brink of a crisis as rapid technological advancements, fierce competition from China, and a planned hike in the daily minimum wage threaten to trigger a massive collapse. With two Japanese car giants, Subaru and Suzuki, set to shut down their manufacturing operations in Thailand, the situation is dire. KKP Research reports that 1,700…
- Business News
Thailand to boost computer chip investments for EV industry growth
Thailand is poised to ramp up its investments in computer chips, aligning with the state’s strategy to establish a national semiconductor board, in a bid to bolster the burgeoning electric vehicle (EV) industry. According to the Secretary-General of the Board of Investment (BOI), Narit Therdsteerasukdi, as domestic EV manufacturing gains traction due to increased foreign investment, the development of related…
- Business News
Thailand invests 8 billion baht for AI and EV industry research
Thailand Science Research and Innovation (TSRI) earmarked an 8 billion baht investment to enhance the nation’s pool of young researchers, supporting key S-curve industries like artificial intelligence (AI), electric vehicles (EVs), and quantum technologies. The fiscal 2025 budget includes plans to prepare 100,000 employees for the semiconductor industry, leveraging opportunities arising from geopolitical conflicts. Chairman of the National Commission on Science,…
- Business News
Thailand’s steel sales slump 11 to 12% due to weak car market
Thailand’s sluggish car sales prompted an 11 to 12% decline in premium-grade steel sales during the first four months of 2024, raising concerns about reduced steel consumption this year, according to the Federation of Thai Industries (FTI). FTI Iron and Steel Industry Club Vice-Chairman Nava Chantanasurakon stated that local steel manufacturers are bracing for a tough period, with expectations of…
- Business News
Thailand’s sports equipment market to hit 32 billion baht
The sports equipment market is set for significant growth in the coming years, thanks to a surge in consumer interest in health and wellness since the Covid-19 pandemic began. President of the Thailand Sporting Trade Association Kitti Charoenpornpanichkul reported that the domestic sports equipment market reached a value of approximately 30 billion baht (US$826 million) last year. This figure surpasses…
- Business News
Thai industries launch initiatives to boost SMEs post-pandemic
New initiatives by the Federation of Thai Industries (FTI) aim to bolster local entrepreneurs, particularly small and medium-sized enterprises (SMEs) still grappling with the effects of the pandemic. The FTI is focusing on critical sectors such as agribusiness and the auto parts industry to foster resilience and growth. Efforts are being made to help SMEs become more competitive through the…
- Business News
Thai industry leader defends Bank of Thailand’s financial autonomy
Federation of Thai Industries (FTI) Vice Chairman Montri Mahaplerkpong voiced opposition to any proposals that would impede the Bank of Thailand‘s (BoT) authority over its financial stability management. Montri argued that the government should explore more palatable solutions to its disagreement with the BoT over policy rates, rather than attempting to curtail its power, which he sees as a contentious…
- Business News
Hong Kong tourism nears pre-pandemic levels
Hong Kong’s tourism sector continues its fight for revival as the number of visits during the Labour Day golden week holiday reached only 66.8% of the pre-pandemic levels. Despite the ongoing struggle, Financial Secretary Paul Chan Mo-po assured the government’s commitment to promoting the city’s mega-event economy and attracting more tourists. This comes after the city registered 893,764 inward trips…
- Business News
Syntec construction prioritises data centre projects
Public traded contractor Syntec Construction formed a dedicated team to manage the growing demand for data centre construction projects, particularly from industry heavyweights. This initiative is part of Syntec’s business strategy for this year, which prioritises bids for data centre construction owing to their heightened demand across the industry, according to Chief Executive, Somchai Sirilertpanich. The company has expanded its…
- Business News
Thai renewable energy industry urges govt to revise trade system
The Federation of Thai Industries’ Renewable Energy Industry Club urged the government to revise the country’s electricity trade system from the longstanding enhanced single buyer (ESB) model, arguing it hampers the growth of renewable energy. The ESB structure, which designates the Electricity Generating Authority of Thailand (EGAT) as the sole entity that sells electricity to the public, is seen as…
- Business News
Manufacturing production index drops by 5.13% in March
Continuing its downward trend for the 18th month in a row, the manufacturing production index experienced a 5.13% drop in March compared to the same period last year, according to an Industry Ministry report. This decline, which is more severe than analysts’ predictions, is attributed to a slowdown in automobile production, a decrease in exports, and increasing household debt. Analysts…
- Business News
Air China boosts Comac profile with massive C919 jet order
China’s national carrier, Air China, reportedly placed an order for 100 domestically-produced C919 jets, a move anticipated to garner international interest and further boost the profile of the relatively new aircraft. This comes as rival Boeing continues to grapple with ongoing safety concerns. The Beijing-based airline, which flies to 196 destinations, including over 60 international locations, confirmed the agreement with Comac,…
- 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…
- Thailand News
Thailand to launch 50 billion baht SME support scheme
Thailand’s Ministry of Finance is set to endorse a new credit guarantee scheme, known as PGS 11, with a funding pool of 50 billion baht (US$1.4 billion baht). This initiative, revealed by Radaklao Intawong Suwankiri, the Deputy Government Spokesperson, is designed to bolster small and medium enterprises (SMEs) in three key industries. Radaklao announced today that Krissada Chinavicharana, the Deputy…
- Health
How industries can cut down deadly PM2.5: A clean air blueprint
When you think about air pollution, industrial activities might not be the first thing that springs to mind. Yet, they play a significant role in the levels of PM2.5, those tiny particulate matters that can deeply penetrate your lungs. Factories, power plants, and various industrial processes release a substantial amount of these particles into the atmosphere, contributing to the air…
- Business News
Bangkok gems and jewellery fair exceeds expectations
The 69th Bangkok Gems and Jewellery Fair, held at the Queen Sirikit National Convention Centre, concluded on a high note, exceeding its initial expectations. The event, organised by the Department of International Trade Promotion (DITP) and the Gem and Jewelry Institute of Thailand (GIT), recorded an estimated value of orders surpassing 3.7 billion baht, a 12% increase over the target.…
- Thailand News
Thai activists call for ban on hazardous PFAS in textile industry
Calls for the prohibition of Per-and Polyfluorinated Substances (PFAS), perilous chemicals found in the textile industry and other goods, have been made by activists. The campaigners argue that such a ban would generate awareness amongst customers who require environmentally friendly products for their health and the welfare of our planet. Thitikorn Boontongmai, Ecological Alert and Recover-Thailand (Earth) Planning Manager, highlighted…
- Thailand News
Bangkok Gems and Jewellery Fair set to boost Thailand’s economy
The 69th Bangkok Gems and Jewellery Fair is set to take place from February 21 to 25 at the Queen Sirikit National Convention Center. The Department of International Trade Promotion and the Gem and Jewellery Institute of Thailand (GIT) are organising the event, in partnership with a joint committee that includes 13 government and private sector organisations. As one of…
- Business News
Thailand’s steel industry suffers as cheap imports from China flood market
Steel industry capacity utilisation in Thailand is on a downward spiral, with Tata Steel Thailand Plc (TSTH), a subsidiary of India’s largest steelmaker, attributing this trend to the sluggish economic recovery and the influx of inexpensive steel from China. The postponement of the fiscal 2024 state budget planning as a consequence of the 2023 general elections and the protracted process…
- Thailand News
Thailand’s minister calls for industrial sector transformation
Thailand Industry Minister Pimpatra Vichayakul likened the nation’s industrial sector to a sleeping tiger ready to awaken and roar, emphasising the need for a transformation towards S-Curve industries. This declaration came during the Thailand 2024: The Great Challenges seminar held yesterday, January 23, at the Pullman King Power Hotel in Bangkok. Pimpatra highlighted the government’s role in supporting local and…
- 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…
- Business News
Thailand recalibrates incentives to boost renewable energy initiative
The Industry Ministry is set to recalibrate incentive packages for organisations as part of the RE100 global renewable energy initiative. This move is intended to allure more investors and facilitate new investment within the nation. RE100, a worldwide initiative comprising hundreds of companies, is committed to 100% renewable energy usage. This aligns with Thailand’s ambitions of reducing carbon dioxide emissions…
