THAI-ITALIAN INDUSTRIAL COOPERATION: TIMES FOR EXPANSION
THAI-ITALIAN INDUSTRIAL COOPERATION: TIMES FOR EXPANSION build immunity and reduce the number of infected people, which build confidence and support the opening country. Next, acceleration to create a passport vaccine platform for domestic and international travel. Then, the government should stimulate the economy and provide relief to SMEs because most of them base on Thai economic. In conclusion, the post Covid-19 in Thailand has many new opportunities for entrepreneurs, who desire the success in emerging market and chances in ASEAN countries. We can imagine the reversal from bottom of business cycle to up trend. It is so exciting. Way forward for cooperation
Italian to the world As we know, the most popular export products of Italy are “3Fs”: food, fashion and furniture. They are symbolic of the Italian lifestyle. However, they also have capital goods and advanced technology goods. Italy is the second-largest manufacturing country in European Union. A big part of Italy’s export to Thailand is industrial machinery, followed by chemical products, pharmaceuticals, vehicles. In the post-Covid-19, we will focus on digital products, artificial intelligence, and robotics. Thailand exports to Italy many products such as electric and electronic devices, agricultural products, rubber products, and vehicles. Beyond trade, our relations with Thailand focus on a broad spectrum of topics such as sustainability and climate change. We both are committed to supporting multilateralism and we collaborate on several issues at the United Nations and other international fora. The investment of Italy in Thailand, Ducati has been produced in Rayong since 2010. Also, in Rayong, Danieli Thailand produces turnkey plants for the metal industry, from iron ore to all the different finished products. Cavagna Group, a world-leading manufacturer of equipment and components for controlling compressed gases. Likewise, Thai investments in Italy is also booming, the well-known is by Central Group, which has acquired the historic Italian department store chain La Rinascente, while Thailand’s leading fisheries business, Thai Union, bought an Italian canned tuna brand, as well as, Minor Group in the NH Branded Hotel in Italy. New opportunities of post Covid-19 Thai Economy has affected from Covid-19 around 3 times. It happens around the world and many people are not survive on their business. However, we have a lesson to prepare Thai economics to supported effect in a big tough time such as immune system in Financial sector or Real sector, Supporting policies from government. Thus, we try to find out a new way to recovery our business again. In short terms, the government should have to accelerate the recruitment and vaccination of vaccines as quick as possible to
Italy has many interesting companies and brands in various sectors, not only in luxury but also in technology-intensive sectors. Real estate is interesting too, as foreigners are allowed to own property in Italy. Furthermore, the Italian government facilitates visas for entrepreneurs who invest above a certain threshold. Italy has many small and medium enterprises, which is the backbone of Italy’s economy, and among these SMEs there are many interesting Italian startups. Some of those SMEs are global leaders in their own market. It makes a lot of sense for Thai investors to look at these success stories to cultivate their relations. As we know, there are many institutions in Italy ready to help foreign investors to identify attractive opportunities. Also, in Thailand, we have the Thai-Italian Chamber of Commerce to support Italian investors. From the foregoing, it can be seen that there are potential industries of both countries such as food and handcraft, which is related to Italian fashion product to be an industry that guides or attracts trade and investment between each country to increase their trading. Therefore, the Federation of Thai Industries (FTI.) is a great pleasure to operate in various ways to achieve the objectives of enhancing trade and investment relations by 45 industries club and our industrial provinces. Business matching would strengthen and expand our cooperation very well in the future to be an opportunity and build a strong business alliance network. It is immunity to protect the business from unexpected changes, which create a business risk that could have serious consequences. Further, the Exchange of knowledge and understanding of various technologies in the manufacturing sector is important in the Thai supply chain. The current upstream industry must be adapted to be consistent with the changing production technology in terms of Industry 4.0. Including being Service Industries, which are the policy and vision of the Federation of Thai Industries. Focusing on providing various types of industry information services to entrepreneurs. As a representative of private sector, FTI and ITCCI can drive and support members for sustainable business expansion, based on the accuracy information and collaboration between us to foster a prosperous Thai-Italian Industrial cooperation. All of our work, are supporting members to beat a Covid-19 situation and be together to bright sky in post pandemic’s humanity.
The Federation of Thai Industries. 8th Flr, Creative Technology Bldg. 2 Nang Linchi Rd., Thung Maha Mek, Sathon, Bangkok 10120 Thailand www.fti.or.th
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