Thailand invested 64.75 billion THB (1.9 billion USD) into other ASEAN nations, accounting for 27 percent of the total of 242.9 billion THB channelled overseas from January to September this year.
People wave Thailand's national flag (Photo: todayonline.com)
Bangkok (VNA)💛 – Thailand invested 64.75 billion THB (about 1.9 billion USD) into other ASEAN nations, accounting for 27 percent of the total of 242.9 billion THB channelled overseas from January to September this year, according to the Bank of Thailand.
The central bank’s data shows that net investment outflows from Thailand to other ASEAN countries have been constantly increasing over the past four years.
The ASEAN Economic Community, scheduled to take shape on December 31, 2015, promises free flow of trade, investment and labour. Setting up Thailand’s factories in the regional countries will be cost-saving, especially in terms of labour expenses.
Big Thai corporate names like Amata, Siam Cement Group, and PTT Group are among the firms making forays into other ASEAN nations that boast fast economic growth, low labour cost and rich natural resources such as Vietnam, Laos, Myanmar and Cambodia.
Thai investors are also investing in the retail industries in ASEAN countries to pave the way for Thai goods into those markets, taking advantage of zero percent tariffs.
In early 2015, the Central Group spent some 100 million USD on buying 49 percent of the charter capital of the Nguyen Kim company in Vietnam with the intention to turn the firm into a leading consumer electronics retailer in Southeast Asia.
ThaiBev, a beverage company, also indirectly became the biggest foreign shareholder of Vietnam’s Vinamilk diary company after gaining control of Singapore’s largest beverage firm, Fraser&Neave.
Thailand’s small- and medium-sized businesses such as Siang Pure Oil Group, MK Restaurant and Coca Holding International are also making inroads into the regional markets by opening branches there.-VNA
Thailand, one of the ten countries with the strongest competitiveness in Southeast Asia, is ready for both opportunities and challenges from the ASEAN Economic Community, a Thai official has said.
Masan Group Corporation (MSN) announced the signing of a partnership agreement with Thailand's Singha Asia Holding Pte Ltd worth as much as 1.1 billion USD on December 25.
Thailand, the 2nd largest economy in ASEAN, has developed strategies to make the most of opportunities as well as be flexible enough to cope with challenges arising from the upcoming AEC.
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Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
Real estate agency ERA Singapore estimated that there are 2,703 condo developments in Singapore today, of which 836 or 31% are at least 30 years old. In 10 years, this number is expected to climb to 1,160, assuming none is sold en bloc.
The new framework is designed to ensure that incoming investments deliver tangible national benefits, such as the creation of high-quality jobs for Malaysians and the development of local company ecosystems and technologies.
Singapore led with a total of 8.8 billion USD in realised investment, followed by Hong Kong and mainland China, Malaysia, and Japan with 8 billion USD, 1.7 billion USD and 1.6 billion USD, respectively.
Thai Acting Prime Minister Phumtham Wechayachai on August 7 outlined his strategy for tackling drug problems in Thailand, aiming for a "Zero Drugs Thailand" within three months.
The US has described Malaysia's role as Chair of the Association of Southeast Asian Nations (ASEAN) as vital in helping ease tension between Thailand and Cambodia.
People wave Thailand's national flag (Photo: todayonline.com)
