Vietnam Newswire

Bangkok, Two countries join forces to support Thai-Nanning trade, hoping to create opportunities for entrepreneurs on both sides to push future industries. Automotive-energy for sustainable growth Mr. Phumtham Wechayachai, Deputy Prime Minister and Minister of Commerce Gave a speech at the Nanning City Investment Environment Promotion and Economic and Trade Cooperation Exchange (Thailand) event to promote Thai-China relations. Trade and investment Exchange economic cooperation between Thailand and Nanning City. Especially the automotive industry New energy and auto parts industry For the development goals of both Thailand and China at the Kwang Hua Tang Auditorium, Thai-Chinese Chamber of Commerce, 9th floor, Thai CC Tower Building, South Sathorn, yesterday evening (22 Apr. 24) Thailand and China have a long relationship. It has built strong economic and social ties. Today, China is an economic superpower. Including being Thailand's number 1 trading partner with the highest trade value between them. For 11 consecutive years (since 2013), in 2023 there was a trade value between them reaching 105 billion US dollars. Accounting for 18 percent of Thai trade value Meanwhile, trade between Thailand and the Guangxi Zhuang Autonomous Region in 2022 will reach a total value of 4.3 billion US dollars. Thailand is the 4th most important trading partner of the Guangxi Zhuang Autonomous Region. However, in the past, Thailand has had trade agreements with China at every level, from the ASEAN-China Free Trade Agreement (or ACFTA) and the Regional Comprehensive Economic Partnership (or RCEP), including supporting the Belt and Road Project (or BRI) as well as creating a memorandum of understanding on trade cooperation (MOU) with 4 important Chinese provinces/cities: Thailand-Gansu, Thailand-Hainan, Thailand-Shenzhen and Thailand-Yunnan. Currently, the Ministry of Commerce Has appointed a subcommittee to promote and drive proactive trade and economics between Thailand-China-ASEAN. To prepare a strategy to promote international trade and drive aggressive trade to the Chinese and ASEAN markets. Thailand aims to prepare an MOU with the Guangxi Zhuang Autonomous Region. which is a province with high potential To expand economic relations and trade and investment more closely. Thailand has an opportunity to expand cooperation to Nanning. Through participation in the China ASEAN Expo trade show, which is an important channel for promoting imports of goods in line with China's economic opening policy. and is a platform for economic and trade cooperation between China and other countries. It also strengthens relations between government agencies through visits by top Thai executives. He also attended the 20th China ASEAN Expo in September 2023 and met and discussed with the Chairman of the Guangxi Zhuang Autonomous Region (Lan Tianli) and the Prime Minister (Mr. Li Qiang), who will help drive The economy between Thailand and China is efficient. The Thai government has a policy to develop the new economy. the entire digital industry high technology industry green industry This is in line with China's policy and operational guidelines. and Guangxi Zhuang Autonomous Region That is a strategic area of ??China's national development plan, such as the New International Land-Sea Trade Corridor (or New International Land-Sea Trade Corridor) and the gateway to ASEAN. With Nanning City being the center city of the Guangxi Zhuang Beibu Bay Economic Zone and one of the three locations of the "Guangxi Zhuang Free Trade Experimental Zone" today's activities. It will provide an opportunity for Thai businessmen and entrepreneurs to connect and participate in the supply chain in this future industry. To jointly develop potential and strengthen the economies and societies of Thailand and China. Also at the event was Mr. Nong Sheng Wen, Secretary of the Communist Party of Nanning City. Ms. Pimpatra Wichaikul, Minister of Industry, Mr. Narongsak Phutthapromongkol, President of the Thai-Chinese Chamber of Commerce, Mr. Narit Therdsatheerasak Secretary-General o f the Board of Investment, Mr. Fan Xiaomin (Mr. Fan Xiao Min), Vice Mayor of Nanning City, and Mrs. Zhang Xiaoxiao, Minister Counsellor. (Commercial Department) Chinese Embassy Also participating in Thailand. Source: Thai News Agency

HCM City: A seminar aimed at channeling overseas remittances into infrastructure took place in Ho Chi Minh City on April 23, given that remittances to the city reached 9.46 billion USD in 2023, nearly three times higher than foreign direct investment (FDI), according to official statistics. In the first quarter of 2024 alone, the figure set a new record, reaching nearly 2.9 billion USD, up 35.4% annually, said Vice Chairman of the municipal People's Committee Bui Xuan Cuong at the event held by the Sai Gon Giai Phong (Liberated Saigon) newspaper. With a population exceeding 10 million, the megacity faces a constant demand for infrastructure development, spanning transportation networks, schools, hospitals, housing and green spaces, he said. According to him, the city is actively improving the business environment to create the most favourable conditions for overseas Vietnamese and their relatives to invest. Dr. Nguyen Tri Hieu, Director of the Institute of Research and Development of Global Financial and Real Estate Markets, said Ho Chi Minh City needs to channel remittances into infrastructure through bond issuance. Regarding local bond issuance to attract remittances, Dr. Tran Du Lich pointed out two mobilisation channels, namely project bonds and infrastructure bonds. Additionally, the Ho Chi Minh City Finance and Investment State Owned Company (HFIC), as a State financial investment company, can establish an investment fund for each major project with various sources of funding, including remittances. Stressing the importance of channeling remittances through established institutions to ensure safety and transparency, he advocated for a leading role by the State and advised the municipal Committee for Overseas Vietnamese to propose pilot institutions, with HFIC acting as a pioneer./. Source: Vietnam News Agency

Bangkok, WPM.2 - Sustainable Waste Management Association Join in brainstorming ideas. Efficient and fair management of electricity costs For the country's sustainable competitiveness, a seminar on "Fair Electricity Prices" was organized. What must I do?' 25 Apr. 2024 Amidst the fluctuations in world energy due to the geopolitical war situation and the decline and depletion of fossil fuel sources in the world. Promoting renewable energy and reducing greenhouse gas emissions Making Thailand a country that depends on energy imported from abroad. There is a problem of maintaining a balance between energy security and appropriate energy costs. One of the most important fluctuation situations that have the greatest impact on businesses and people is the cost of electricity, which has a tendency to increase continuously in the past. Although there are efforts to intervene in prices to reduce the potential impact on the people. But there are very different and divided views and opinions. From people involved with energy in various aspects Participant in the Energy Science for Young Executives course, Batch 2 (WPM.2), Energy Science and Technology Institute. Sustainable Waste Management Association Recognizing the importance of efficient and fair management of electricity costs For the country's sustainable competitiveness, a seminar on "Fair Electricity Prices" was organized. What must be done?' On Thursday, April 25, 2024, from 8:00 a.m. to 12:00 p.m. at the SYNERGY HALL room, 6th floor, Building C, Energy Complex Center, inviting people directly involved in Thailand's electricity prices. Participate in a discussion and brainstorm ideas in various aspects, both from government policy makers. and energy governance Supplier of gas that is the main fuel for generating electricity. Producer of electricity and manage transmission network Producer of electricity from renewable energy including the private sector energy importer and electrical energy users Register to reserve your seat in advance. https://me-qr.com/DRZKjJA i . Source: Thai News Agency

Hanoi: Vietnam's economy is showing mixed signs of recovery in early 2024, with growth forecast to reach 5.5% in 2024 and gradually rise to 6.0% by 2025, according to the latest World Bank Taking Stock bi-annual economic update released on April 23. Addressing a press conference held by the WB on the same day, World Bank Lead Economist for Vietnam Andrea Coppola said the country's exports are recovering, and consumption and private domestic investment growing more gradually. Real exports are expected to grow by 3.5% in 2024, reflecting a gradual improvement in global demand. In addition, a turnaround in the real estate sector is anticipated later this year and next year, bolstering domestic demand as investors and consumers regain confidence, he said. Senior Economist at the WB in Vietnam Dorsati Madani said the forecast is based on the assumption that exports of manufactured industrial goods will recover significantly in 2024 thanks to a rebound growth of 8.5% compared to the same period last year in the fourth quarter of 2023 and a 17.2% increase year-on-year in the first quarter of 2024; and an improving global demand. Export of manufactured industrial commodities is expected to continue recovering in the next two years. The real estate market is predicted to transition towards an upward trend in late this year and early 2025, as the frozen bond market loosens and the Land Law takes effect from January 2025. Real total investment and private consumption are projected to increase by 5.5% and 5% in 2024, respectively. According to Dorsati, inflation is forecast to increase slightly to 3.5% in 2024 from an average of 3.2% last year, and then stabilise at around 3% in 2025 and 2026. This projection is based on expectations of stable energy and commodity prices. The economist also warned of potential downside risks both domestically and internationally that could negatively impact the economic outlook, saying that due to Vietnam's economic openness to the global economy, it could be vulnerable to effects of lower-than-expected global growth, such as with major trading partners including the US, the European Union, and China. She underscored the importance of sustained fiscal policy support to reinforce the recovery, and recommended expediting infrastructure investment projects financed by public resources, saying that this will help further stimulate the economy, with an additional potential 0.1 percentage point of GDP growth for every 1 percentage point increase in public investment as a share of GDP. According to Dorsati, continued weak revenue collection and increased spending, including the planned salary increases for civil servants and accelerated investment public investment, are expected to widen the fiscal deficit to 1.6% of GDP in 2024, before narrowing to 1.1% in 2025, in line with the country's Fiscal Strategy for 2021-2030. Ensuring the stability of the financial sector remains paramount, with a focus on managing potential risks associated with increasing bad debts, including due to declining ass et values in the real estate market. Capital buffers of commercial banks are relatively thin, and the real estate market's downturn could further depress their capital, she said. Dang Quang Vinh, Senior Private Sector Specialist at the WB, said the report presents several recommendations aimed at supporting innovative startups, thus contributing to Vietnam's productivity growth. He underlined the need to enhance the contribution by the academic and public research community through providing opportunities for universities and public research institutions to support startups. The public research sector can play a larger role by modernising the intellectual property and technology transfer framework, rewarding research efforts with commercialisation potential, and building the capacity of universities and research institutions to effectively transfer technology to startups, he went on./. Source: Vietnam News Agency

MEA informs those eligible for state welfare benefits who have not yet registered to receive measures to alleviate the burden of electricity bills. You can continue to register with MEA or the Metropolitan Electricity Authority. Informing electricity consumers in Bangkok, Nonthaburi and Samut Prakan areas. who have state welfare rights and has never registered for rights to measures to alleviate the burden of electricity costs You can register at https://meagate1.mea.or.th/welfareregis In this regard, people are asked to be careful in receiving information from various social media communication channels, which may present incorrect information. and cause confusion among the people. Information can be inquired at various official social media channels, including Facebook: Metropolitan Electricity Authority, MEA 1130 Electricity Consumer Information Service Center, Metropolitan Electricity Authority, available 24 hours a day. Source: Thai News Agency

Hanoi: Domestic construction companies will continue to face difficulties in the second quarter of this year with capital shortage top of their problems, a report has revealed. Up to 42.2% of surveyed firms said they met more difficulties in Q1; 41.5% said their business operation were stable and 16.3% experienced better business in Q1, according to a General Statistics Office report. In Q2, 27.1% anticipated their business operation would be more difficult; 40.7% expected stable business and 33.2% foresaw better business performance compared to Q1. Amid the current difficult context, 46.4% of enterprises called on capital support such as preferential loans, more convenient and faster loan procedures, and reduced lending interest rates. Meanwhile, 44.3% suggested assistance in raw materials such as ensuring supply and stabilising raw material prices; 38.3% expected that bidding information would be more open and transparent; and 32.9% emphasised the importance of speeding up administrative reforms. A Vie tnam Report survey also showed that 55.6% of construction enterprises encountered difficulties in terms of working capital. Bank credit had been expanded, and interest rates had decreased, but construction firms, especially small and medium-sized, still found difficulty in accessing loans as their financial conditions failed to meet commercial banks' requirements. Experts said that to ease the difficulties of the construction industry, it was necessary to solve some main problems such as reducing costs, improving the competitiveness of businesses and perfecting investment and business environment Creating the favourable conditions for the firms to get bank loans and facilitating their market access should be also included, they said. The nation's construction industry faced considerable challenges in 2023. Rising material prices, higher debt taken by builders, and dampened demand during the pandemic had all resulted in the downfall of hundreds of construction firms in the Vietnamese market in recent quarte rs. To spur economic growth and development in the country, the Government had been increasingly investing in transport infrastructure. Several projects were completed in the second half of 2023, with many more planned to be finished over the next 2-3 years. These projects were expected to keep supporting the recovery of the struggling industry in Vietnam over the short to medium term./. Source: Vietnam News Agency

Bangkok, Lotus responds to government policy by the Ministry of Commerce that wants to help reduce the cost of living for Thai people, especially parents with school-age children, by organizing two discount campaigns from today until May 31, 2024. Miss Worawan Phianlikitwong Senior Director Marketing Division, Lotus said that around the start of the school term is a time when Thai people, especially parents with children, There is a greatly increased cost burden. Lotus therefore organized 2 big campaigns to help ease the cost burden for the people, including the "Rollback, Reduce Big, Really Save" campaign, joining forces with famous brands. Discounts on more than 850 essential products, including the campaign "Back to school - start the new semester fully at Lotus's" that helps reduce the burden of expenses on parents at the start of the new semester. With products and promotions that meet every student need. And there is also a project 'Take your child to school' invites Thai people to join in donating ne w pairs of shoes to youth in need at Lotus donation points nationwide.' The 'Rollback, Big Discounts, Really Save' campaign presents promotions that meet the needs and desires of customers with an army of products at special prices that Lotus joins forces with over 130 well-known brands to present essential products with real discounts, real savings, real savings. Covers products in 35 categories, totaling more than 850 items, with fixed prices for a full 5 weeks, guaranteeing good value at all Lotus branches nationwide with products necessary for the daily life of Thai people. Both fresh and frozen food Consumer products such as white jasmine rice, peanut oil, seasoning sauce, instant noodles, baby diapers, tissue paper, dishwashing liquid, shower cream, etc., including electrical appliances and clothing. and many other essential products Source: Thai News Agency

Hanoi: The volume of corporate bonds maturing in 2024, though lower than that in 2023, is till at a high level, mostly in industries with payment risks such as real estate and renewable energy, according to a report by the Ministry of Finance (MoF). The ministry said as of the end of 2023, the outstanding corporate bond debt stood at about 1 quadrillion VND (39.27 billion USD), issued by 432 businesses. Among them, the total value of bonds maturing in 2024 is 240.1 trillion VND (9.43 billion USD), lower than the 261.6 trillion VND recorded last year. Credit institutions had the largest outstanding bond debt by the end of 2023 with 357.2 trillion VND. The figure for real estate businesses was 351.4 trillion VND. The volume of real estate corporate bonds due in 2024 is 99.6 trillion VND, issued by 92 organisations. The MoF forecast that there will be difficulties for a number of businesses in paying corporate bond debt worth about 35.8 trillion VND, accounting for 35.9% of the volume of mature bonds of real estate businesses, and recommended real estate businesses continue to closely monitor their ability to repay bond debt. For the remaining group of businesses, the combined outstanding bond debt is about 300 trillion VND, accounting for 29.8% of the total outstanding debt, for bonds issued by 222 businesses. Their maturity volume in 2024 is 87.3 trillion VND for bonds issued by 102 organisations. According to the MoF, if interest rates will be maintained at the current low level, the capital mobilisation costs will be reduced, encouraging businesses to invest in business expansion, and improving their debt repayment ability. However, the ability of restoring production and ensuring debt repayment obligations depends on particular industry and economic situation at home and abroad, it said./. Source: Vietnam News Agency