GTCC e-UPDATE: 21 November 2016
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Upcoming GTCC Events Register now for our upcoming events: 25.11.2016 Joint Chamber Luncheon for Prime Minister General Prayuth Chan-o-cha's Address [Registration CLOSED] 28.11.2016 GTCC Executive Breakfast Talk “ASEAN Headquarters in Thailand: Ways to Save Personal and Corporate Income Tax” 01.12.2016 GTCC Business Luncheon: Sustainable Buildings - Innovative Architecture and Engineering 01.12.2016 Phuket Business Dinner "Digital Marketing or Digital Confusion?" 14.12.2016 GTCC Young Professionals Network Evening x Heroleads 16.12.2016 Joint Eastern Seaboard Christmas Networking
Thailand Economic Factsheet
Update Magazine
Economy Asia-Pacific leaders defend trade against Trump tide Asia-Pacific leaders sent a strong message in defence of free trade Sunday as they wrapped up a summit that has been overshadowed by US President-elect Donald Trump's protectionism. The broad consensus at the Asia-Pacific Economic Cooperation (Apec) summit, which features some of the world's most powerful leaders on both sides of the Pacific, is that free trade is a force for good.(Bangkok Post, 21/11/2016) More Property tax law delayed by one year Thailand's first property tax law is unlikely to come into force by January as scheduled but will be delayed by another year to 2018, according to the finance minister. (Bangkok Post, 19/11/2016) More Improved infrastructure to raise Thailand's IDI by 2018 Thailand aims to improve its ranking by two notches in the global ICT Development Index (IDI) to 72nd by 2018 after rapid development of the country's digital infrastructure. (Bangkok Post, 15/11/2016) More Plans for test centre revved up The government is revving up construction of the first-ever automotive testing centre in preparation for the ambitious policy to make electric vehicles locally. (Bangkok Post, 15/11/2016) More Somkid presses for Thailand 4.0 labour reforms The government has ordered the Labour Ministry to speed up national labour reforms to make them compliant with the Thailand 4.0 policy, which focuses on using high technology and innovation to create more value-added products. (Bangkok Post, 15/11/2016) More State investment given earlier deadline The government aims to step up state investment by bringing forward state enterprises' investment projects over the next two years to next year. The move seeks to ward off potential downside risks to growth from increasing global uncertainties amid tepid private investment. (Bangkok Post, 14/11/2016) More New rehabilitation regulations: survival tools for SMEs Small and medium-sized enterprises (SMEs) have grown rapidly in Thailand over the past 10 years, creating millions of jobs and contributing to steady economic growth. This has prompted the government to issue numerous privileges. The latest privilege, issued under the Bankruptcy Act on 24 May 2016, offers SMEs the opportunity to rehabilitate and avoid bankruptcy in the face of short-term liquidity problems. (Bangkok Post, 11/11/2016) More Cost of funding likely to rise as Trump takes power Thailand should speed up its investment projects including the “Thailand 4.0” model, as the cost of funds will be on an uptrend due to the expected steady
Q4/2016: INDUSTRY 4.0 Feature: Thai-German Industry 4.0 Symposium; The German Ambassador’s Speech; “Thailand 4.0” focusing on ten cluster promoting the Digital Economy; Thailand as a dynamic market for automation, robotics and the transformation to Industry 4.0; A Reality at Bosch; Meeting the Challenges of the Fourth Industrail Revolution; Reaping the Rewards of Digitalisation;GTDEE follow-up conference looking to the future // Business Brief // Chamber Activities // GTDEE Insights // GTCC Gala Night 2016 // Trade Fairs // Members' Corner
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Glossary
increases in interest rates after Donald Trump becomes the US president early next year. (The Nation, 11/11/2016) More
ACD
Asia Cooperation Dialogue
AEC
Asean Economic Community
AIS
Advanced Info Service
AWN
Advanced Wireless Network
BBL
Bangkok Bank
BCP
Bangchak Petroleum Plc
BOI
Board of Investment
BOT
Bank of Thailand
Companies & Industrial Sectors
CCI
Fintech disrupting bank profits Traditional banks must move rapidly to transform their digital structures to react and deal with finance technology (fintech) companies that are sapping away the banking sector's profitability, warns a leading global technology firm. (Bangkok Post, 21/11/2016) More
Consumer Confidence Index
CPI
Consumer Price Index
CLMV
Cambodia, Laos, Myanmar, Vietnam
CPF
Charoen Pokphand Foods
CSR
Corporate Social Responsibility
FTI
Federation of Thai Industries
GDP
Gross domestic product
GTB
Getabec PLC.
IPO
Initial public offering
MPI
Manufacturing production index
MoU
Memorandum of Understanding
NPL
Non-performing loan
Pink, Yellow lines get priority listing Deputy Prime Minister Somkid Jatusripitak is pushing to make sure the Pink and Yellow electric rail routes are the first two projects up and running under the government's public-private partnership (PPP) scheme to boost the country's economy. (Bangkok Post, 10/11/2016) More
CPF takes giant stride into US market Charoen Pokphand Foods (CPF) has announced a definitive agreement to acquire US frozen-food company Bellisio Parent for US$1.075 billion (Bt38.1 billion). The transaction, subject to customary closing conditions and regulatory approvals, is expected to close within 180 days. (The Nation, 18/11/2016) More Some media companies survive advertising shortfall in first half Despite facing economic decline in the first half this year, some ad-media companies have managed to improve results for the third quarter. A group of top gainers – Mono Technology, Plan B Media, Major Cineplex Group, TV Direct, TV Thunder, Wave Entertainment and Workpoint Entertainment – kept their revenues and net profits in positive territory. (The Nation, 16/11/2016) More Asefa seeks steady gains in revenue SET-listed Asefa Plc, the leading Thai maker of electric switchboards, aims for 15% revenue growth next year on the back of accelerating infrastructure investment. (Bangkok Post, 15/11/2016) More Digital uptake paying off Thailand has seen the largest overall gain from digital transformation among Southeast Asian markets and the second-biggest in the world after India, according to a survey by software maker CA Technologies. (14/11/2016) More MV tries home automation MV Communications Co, a Thailand-based data communication and telecommunications distributor, is jumping into the home automation market with the creation of the first Thai-made products to compete with dominant global players. The development is to cash in on the burgeoning Internet of Things (IoT) and smart home automation systems market that represent a digital
lifestyle and integrated connectivity. (Bangkok Post, 10/11/2016) More
OIE
Office of Industrial Economics
PPV
Passenger pickup vehicles
WHA eyes 2017 profit boost from 4 plants Thailand's largest warehouse developer WHA Corporation (WHA) expects a significant increase in next year's net profit. WHA currently has potential generating capacity of 850 megawatts from the four plants. Of that capacity, 350MW is operational and the remaining 500MW is under construction. (Bangkok Post, 08/11/2016) More
R&D
Research and Development
SME
Small and medium-sized enterprises
Scan Inter sees solid third quarter SET-listed Scan Inter Plc (SCN), a compressed natural gas (CNG) provider and station operator, posted a solid third-quarter net profit on rising demand at a time when the company is expanding to capitalize on growth. (Bangkok Post, 09/11/2016) More
TCMC
Thailand Carpet Manufacturing Plc
TNSC
Thai National Shippers' Council
TOT
Telephone Organization of Thailand
WTTC
World Travel and Tourism Council
Car market to remain flat despite better outlook In spite of improving sentiment in the country's automotive market, domestic sales are expected to stay flat or rise slightly this year, hovering in a range of 790,000-800,000 units. (Bangkok Post, 10/11/2016) More
GTCC Business & Study Trip to Germany
Thailand and ASEAN Millcon’s plant up and running Millcon Steel, Thailand's producer and distributor of steel products, is hopeful of a positive business outlook in Myanmar after the opening of its manufacturing plant there, which will mainly serve domestic demand. Located in Thilawa Special Economic Zone, the plant is currently on a test run, churning out 8001,000 tonnes of steel a month. (The Nation, 21/11/2016) More Myanmar banks "facing five key challenges" Myanmar’S hope of becoming an investment destination in ASEAN may fade away if the country fails to address five major challenges in its financial sector -human resources, technology and infrastructure, building trust, well-sequenced implementation of the new Financial Institutions Law, and the exchange rate. (The Nation, 21/11/2016) More Hevta signs franchise pact with Laotian firm Hevta, a Thailand-based provider of uPVC (unplasticised polyvinyl chloride) window and door systems, has expanded into Laos through a franchise with Ardeco, expecting to boost overall sales by 5 per cent this year. (The Nation, 18/11/2016) More Thailand eyes digital signage hub Thailand is making a bid to become the hub of digital signage and advertising in
"Integrated Industry/Industrial Automation/Smart Factory" by visiting HANNOVER MESSE 2017 and Exclusive Site Visits 22-30 April 2017 (9 days 6 nights). CLICK HERE for information on HANNOVER MESSE 2017 CLICK HERE for the program CLICK HERE for the application form For more information and registration, please contact Ms. Kamolchanok at Tel: 02 670 0600 ext. 4004 or
ASEAN, offering opportunities for digital sign makers and vendors from nearby countries. (Bangkok Post, 11/11/2016) More
Email: kamolchanok@gtcc.org by Friday 10 March 2017.
BMWi promotes start ups on 58 German fairs in 2017
Green Technology Electric bus deal goes to cabinet meet The Transport Ministry will ask the cabinet on Tuesday to approve a purchase of 200 electric vehicles to replace ageing city buses under a plan to offer better services and reduce air pollution. (Bangkok Post, 14/11/2016) More Japan project hikes BCPG revenue 3.1% BCPG, a clean energy producer, saw its nine-month revenue rise 3.1 per cent year on year to Bt2.32 billion after booking revenue earned in the third quarter from its Akita project in Japan. (The Nation, 09/11/2016) More
The German trade fair organizers plan, on current status, the participation of young and innovative companies on 58 international trade fairs in Germany in 2017; the exhibitors on respective common booths are financially supported by the German Federal Ministry of Economic Affairs and Energy. >> Read More (in German)
Chiang Mai World Fair 2017: 27-29 January 2017
A joint venture between the Governor and Diplomatic Missions based in Chiang Mai to strengthen links between the people of Chiang Mai and Northern Region and the world community.
Bilateral Business GTB signed Water Tube Boiler with Balance of Plant Agreement Getabec Public Company Limited (GTB) recently signed the Agreement on supplying the "Water Tube Boiler with Balance of Plant" with Posco Engineering Company Limited at the Novotel Bangna. GTB is one of leading Boiler and Pressure Vessel manufacturers in Asia, founded in 1983. (ThymeD, 11/11/2016)
About the fair >> CLICK HERE For interested sponsors and exhibitors >> CLICK HERE or contact: Khun Waraporn Boonsala (Tu) Event Sales Manager Chiang Mai World Fair 2017 Tel. 089-960-8442 Email: cmwf17@gmail.com
Press conference to mark Germany’s joint participation in the Grand Metalex
CSR DHL gives back to community with tree-planting initiative Four hundred DHL’s employees had voluntarily collaborated with the Royal Forest Department on the “Ton Kla” (“Young Plant”) initiative in the Banglamung national forest in Chon Buri province. Thousands of trees were planted. The DHL volunteers had nurtured the tree seeds for three months for the purpose of reforestation, with the seeds provided by the department under the Ministry of Natural Resources and Environment. (The Nation, 14/11/2016) More
Date: Wednesday, 23 November 2016 Time: 2.00 p.m. Venue: German Pavilion at the Bangkok International Trade & Exhibition Centre (BITEC) We are keen to inform you what German manufacturers can offer their customers in Thailand, and accordingly invite you most cordially on behalf of the German Ministry for Economic Affairs and Energy (BMWi) as well as of the VDW (German Machine Tool Builders’ Association) to this informative conference.
Contact Person
Member News Henkel continues its strong business performance in the third quarter Düsseldorf – Henkel continued to deliver strong business performance in the third quarter, with the sales at 4,478 million euros. The successful development and the high quality of earnings was driven by all three business units and the strong commitment of our global team. In the third quarter, Henkel was also able to successfully close the acquisition of Sun Products and secure its financing at favorable conditions. Henkel's second largest transaction in its history elevated the company to the No. 2 position in the US laundry care market. More Special Tribute Saturday Jazz Night at SO Sofitel Hotel Bangkok SO Sofitel Hotel organises an evening in honor of HM the late King Bhumibol Adulyadej with a special tribute Saturday Jazz Night. Songstress Athalie de Koning – one of the group of international artists invited to record a song in honor of the late king – and her band Jazziam will be performing songs written or composed by the beloved monarch, along with his favorites, and some complementary jazz tunes. Free entry, on 3 December 2016 from 8.30 p.m. – 10 p.m. at Park Society Terrace on 29th floor of SO Sofitel Bangkok.More information, please call 02-624-0000 or e-mail: h6835-fb3@sofitel.com
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Chadaphan Maliphan Publication and Communication Manager Tel: +66 2 670 0600 ext 2005 Email: chadaphan@gtcc.org
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