investment
- Thailand News
Chang’an automobile invests over 120 million baht in Thai EV parts research
Chang’an Automobile, China’s leading automotive company, received encouragement from the Thai Deputy Prime Minister and Commerce Minister, Phumtham Wechayachai, to invest in the research and development of electric vehicle (EV) parts in Thailand. This came about after a meeting between Phumtham and Churu Huarong, Chang’an Automobile’s Chairman today. As a prominent player in the automotive industry, Chang’an Automobile has a…
- Business News
Thailand and Sri Lanka set to finalise free trade agreement by year’s end
Thailand and Sri Lanka are on track to finalise a bilateral free trade agreement (FTA) by the close of this year. The chief of trade negotiations has indicated that the signing of the agreement is expected by early February next year. Chotima Iemsawasdikul, the director-general of the Trade Negotiations Department, disclosed that Thai and Sri Lankan officials are set to…
- World News
Kazakhstan courts ASEAN investors to become Central Asia’s investment hub
Kazakhstan is reaching out to foreign investors, particularly from the Association of Southeast Asian Nations (ASEAN), in a bid to establish itself as a central investment hub in the Central Asia Region. The Kazakh government has expressed interest in mutual economic development with the Southeast Asian region, according to Deputy Minister of Foreign Affairs Roman Vassilenko. He made these remarks…
- Business News
South Korea’s advanced tech industries endorsed by international alliances
South Korea, poised to become the world’s epicentre for advanced technology industries, received a vigorous endorsement from international alliances eager to accelerate its economic growth and competitiveness. The nation also committed to bolstering cooperation with its ASEAN partners to promote trade and investment. Specifically, South Korea showcased interest in the automobile sector within Thailand’s Eastern Economic Corridor (EEC) in Rayong…
- Business News
Thai government and Google partnership to boost digital economy
The Thai government announced a strategic partnership with Google to bolster the country’s digital economy and accelerate the development of artificial intelligence (AI). The agreement, unveiled at the Asia-Pacific Economic Cooperation (APEC) Leaders’ Meeting, seeks to enhance Thailand’s digital infrastructure, encourage the secure and responsible adoption of AI, anchor cloud-first policies, and make digital skills more accessible to Thai citizens.…
- Business News
Tech giants AWS, Google and Microsoft to invest 300 billion baht in Thailand
Amazon Web Services (AWS), Google, and Microsoft are set to invest in Thailand, marking a significant achievement for the nation’s economy. The total investment from these tech giants is expected to reach around 300 billion baht. The announcement was made by government spokesperson, Chai Wacharonke, following Prime Minister Srettha Thavisin’s successful talks with executives from the three tech powerhouses during…
- World News
Lady’s rock-solid gamble rocks the art world: 14.8 million baht red stone reveals jaw-dropping hidden value
A woman’s monumental investment in a peculiar red stone has shocked experts, yielding a return considerably higher than anticipated. The stone, originally purchased for around 14.8 million baht, was revealed to be a highly valuable artefact. In recent years, China has seen a surge in the buying and selling of antiques, items that are not only rare but also incredibly…
- Thailand News
PTT reinvestment: Diversifying beyond oil and petrochemicals for future growth
National energy conglomerate PTT Plc has initiated a reinvestment phase, eyeing new ventures for future growth. This move follows the stagnation of the company’s traditional businesses, which are primarily centred around the oil refinery and petrochemical sectors. As these avenues have limited potential for enhancing future income, the company emphasises the need for reinvestment. PTT’s President and Chief Executive Officer,…
- Thailand News
Hong Kong investment spurs expansion in Thai manufacturing and logistics
Thailand is attracting the attention of Hong Kong-based investment companies keen to establish manufacturing and logistic firms within its borders, revealed Thai trade representative Nalinee Taveesin. This follows a recent dialogue with Ronald Ho, the director of Hong Kong Trade Development Council’s Southeast Asia and South Asia, in Bangkok. The two nations have long enjoyed a prosperous relationship in trade,…
- Business News
Lazada Thailand boosts logistics sector with sorting facility
Lazada Thailand has set the stage for fierce competition in the local logistics sector by investing heavily in a state-of-the-art sorting facility, its largest investment in Southeast Asia. This move anticipates a boom in the e-commerce market, predicted to hit US$32 billion by 2025. Simultaneously, Kerry Express is increasing its logistics operations’ accuracy and efficiency by integrating automation technology and…
- Thailand News
Investment ties strengthened: Parnpree’s mobile meeting proposal for Thai-Vietnam relations
Parnpree Bahiddha-Nukara, the Foreign Affairs Minister, yesterday proposed the reinstatement of mobile meetings to bolster investment ties between Thailand and Vietnam. The proposal came about during a meeting with Pham Minh Chinh, the Prime Minister of Vietnam, concluding Parnpree’s two-day official visit to the neighbouring nation. The visit, which kicked off on October 25, marked Parnpree’s inaugural official trip since…
- Business News
Thailand seeks free trade agreement with Gulf nations to boost investment
Thailand’s government spokesperson, Chai Wacharonke, declared the country’s intention to establish a free trade agreement with the Gulf Cooperation Council (GCC) member nations, aiming to enhance trade and investment relations. Prime Minister Srettha Thavisin recently concluded his visit to Saudi Arabia, where he participated in the ASEAN-GCC Riyadh Summit at the Ritz-Carlton. During the visit, the 61 year old prime…
- Business News
Mall’s well in the northeast: Central Pattana pours 3 billion baht into booming secondary cities
Central Pattana Plc (CPN), the retail and property developer and operator of Central shopping centres across Thailand, declared plans to invest 3 billion baht in the development of secondary cities within the northeastern provinces of Nakhon Phanom and Nong Khai. The aim is to enhance these cities’ potential to rival megacities. Tos Chirathivat, Central Group’s executive chairman and chief executive,…
- Business News
Thai PM assures Hong Kong investors of streamlined business process
Prime Minister Srettha Thavisin yesterday extended a warm welcome to potential investors in Hong Kong, assuring them of Thailand’s readiness to encourage and facilitate investment. While serving as the finance minister, PM Srettha travelled to Hong Kong to meet with significant private entities and explore investment opportunities in Thailand. This visit to Hong Kong marked the beginning of a five-day…
- Business News
Inflation squeeze: Investors seek assets that outinflate rising costs
The recent surge in inflation has had a profound impact on the investment landscape, leading to an increase in product prices and living costs. These conditions require investors to strategically select assets that can generate returns that beat inflation. One such investor, Phongthorn Thavontanakul, founder and CEO of Lief Capital Asset Management, shared his insights on investments that can weather…
- Business News
UHG announces 3.1 billion baht investment in new Thai hotel developments
UHG, a prominent developer of hotels and offices, has announced plans to invest 3.1 billion baht in the construction of two new hotels in Ramkhamhaeng and Phaya Thai. The investment supports UHG’s strategy to capitalise on the potential of these areas and cater to the high demand experienced by its nearby hotels. Wutthiphon Taworntawat, the managing director, highlighted the strategic…
- Thailand News
Thailand and Italy cook up a delicious deal for gastronomy and tourism
A mutual agreement has been reached between Thailand and Italy to collaboratively promote the gastronomy and tourism sectors of both nations, according to Thai trade representative, Nalinee Taveesin. The Thai-Italian collaboration announcement was made on Sunday, with Italy expressing an increased interest in investing in Thailand’s Eastern Economic Corridor (EEC). Such an understanding was gleaned from a recent meeting between…
- Business News
Thai-Chinese Chamber urges neutrality in US-China conflict, deeper China ties
The Thai-Chinese Chamber of Commerce urged the new Thai government to maintain neutrality in the US-China conflict while deepening trade links with China. In an interview, President Narongsak Puttapornmongkol suggested that Chinese firms exporting to the US or Europe could bolster their investments in Thailand, enabling them to base production in the country. “There is no need to be overly…
- Business News
WHA anticipates US tech giants’ investment surge due to Thailand’s renewable potential
Thailand’s biggest built-to-suit logistics facilities developer, WHA Corporation, anticipates an increase in investment from US tech giants in the coming year, as they eye business expansion in the ASEAN region. Major players such as Google, Microsoft, and Tesla have shown interest in the country’s potential during an investment talk. The event was a part of Prime Minister Srettha Thavisin’s participation…
- Business News
Thai govt greenlights 500 billion baht boost for state-owned enterprises in 2024 budget bonanza
The Thai government yesterday approved a massive investment budget of 500 billion baht dedicated to 46 state-owned enterprises for the fiscal year 2024, commencing this October. The substantial budget aims to stimulate the national economy and bolster fiscal growth. Government spokesperson Chai Wacharonke detailed the budget allocation, stating that the funding includes 209 billion baht earmarked for ongoing and routine…
- Business News
Bonding for the future: Thai govt sets sail with expanded issuance
The director-general of the Public Debt Management Office (PDMO) yesterday asserted that the planned issuance of government bonds in fiscal next year will be proportionate and appropriate. The limit for bond issuance for the said fiscal year has been expanded by approximately 160 billion baht. Patricia Mongkhonvanit revealed the increase is intended to counterbalance the budget deficit for fiscal next…
- Economy News
Thai-US relations: Strengthening trade ties with Estonian E-Government expertise
The Prime Minister of Thailand announced that he has plans to bolster trade relations with the United States. This comes as the two nations observe their 190th anniversary of diplomatic ties. The announcement was made following a meeting between Thai Prime Minister Srettha Thavisin, and US President Joe Biden during a gala dinner, organised by the US-ASEAN Business Council and…
- Business News
Thailand’s ‘plastic’ ambition: Industry Ministry seeks foreign investment to mould bioplastics hub status by 2027
The Industry Ministry of Thailand is being urged to devise innovative strategies in order to attract foreign investment for the nation’s burgeoning bioplastics sector. The ultimate aim is to establish Thailand as a bio hub within the ASEAN region by 2027. Viboon Pungprasert, president of the Thai Bioplastics Industry Association (TBIA), has called upon the new government to implement measures…
- Tourism News
Chaiya Pier 60m baht investment to boost Surat Thani tourism
A significant boost to Chaiya district’s tourism is on the horizon as provincial authorities of Surat Thani have earmarked a budget of 60 million baht for the construction of a new pier. The announcement came from Surat Thani governor, Witchawut Jinto, who confirmed that construction will commence shortly. The construction is said to be positioned near a public park in…
- World News
Thailand’s EGCO anticipates major returns from US clean energy investment
Electricity Generating (EGCO), a subsidiary of the state-run Electricity Generating Authority of Thailand, anticipates significant revenue from its investment in Apex Clean Energy Holdings LLC. The company’s president, Thepparat Theppitak, expressed optimism about the potential benefits generated by Apex in the coming years, especially since the United States, where Apex runs its projects, is one of the world’s largest markets…
- Thailand News
Thailand’s first expressway tunnel proposed through 36 billion baht investment
The Expressway Authority of Thailand (EXAT) has put forth a proposal for an underground expressway, aiming to replace a contentious section of the N1 Expressway development. The proposal came after an extensive 17-month initial feasibility study. EXAT Governor Surachet Laophulsuk revealed this plan during the project’s second hearing, stating that multiple factors such as engineering, investment costs, and environmental impact,…
- Business News
Chery’s EV dreams charge ahead in Thailand: BoI blessings pending
China‘s Chery International, through its subsidiary Omoda & Jaecoo International Co, intends to establish an electric vehicle (EV) production facility in Thailand, pending Board of Investment (BoI) privileges. Qi Jie, Thailand’s national director at Omoda & Jaecoo International, will unveil detailed investment and business plans in the coming months. Chery, one of China’s top vehicle manufacturers, plans to introduce two…
- Thailand News
Bangkok’s multinational ambitions drive forward: BMA seeks government support
The drive to establish Bangkok as a multinational hub has gained momentum, with the Bangkok Metropolitan Administration (BMA) expressing intent to garner government backing for the initiative. Bangkok Governor Chadchart Sittipunt, yesterday, announced the intent to align the BMA’s policy with that of the government to stimulate the city’s economy and job creation. In a press briefing, Chadchart illustrated the…
- Business News
Pheu Thai Party’s digital handout scheme could boost Thailand’s GDP by 3%
The Pheu Thai Party‘s proposed digital handout scheme, requiring around 500 billion baht, could potentially boost Thailand’s GDP growth by 3% in the next year, according to the Bank of Thailand. Sakkapop Panyanukul, the central bank‘s director of the economic and policy department, mentioned the digital handout contribution depends on the economic multiplier. The 3% GDP projection uses a cash…
- Business News
Global investors navigate high interest rates amid inflation control efforts
Amid recession concerns, inflation, and high interest rates, investors seek promising investment avenues. Stock enthusiasts believe global interest rates are close to peaking, while central banks watch inflation. The US Federal Reserve raised the federal funds rate to 5.25-5.50% in July, the highest in decades. The European Central Bank increased rates by 0.25%, and the Bank of Japan hints at a…
