Vietnam Newswire

Nonthaburi, Director-General of the Department of Business Development revealed that in the first quarter of 2024, foreigners invested 35,902 million baht in Thailand. Japan was the number one investor with 19,006 million baht, followed by Singapore with 3,294 million baht and France with 3,236 million baht, employing 849 Thai people. Mrs. Oramon Sapthaweetham Director-General of the Department of Business Development revealed that in the first quarter of 2024 (January-March) foreigners will be allowed to invest and conduct business in Thailand. Under the Foreign Business Act B.E. 2542, there were 178 cases, of which 53 were investments through the application for foreign business licenses and requesting a foreign business certificate. (via investment channels according to the investment promotion law or is permitted according to the law on the Industrial Estate Authority of Thailand and exercising rights according to treaties or international agreements) totaling 125 people, total investment of 35,902 mill ion baht, employing 849 Thai people. The top 5 foreigners who invested are: 1. Japan, 40, accounting for 22% of the number of foreign businesses in Thailand, investment of 19,006 million baht in businesses such as advertising business, service business, procurement and installation of equipment for manufacturing factories. Cetyline Black Business providing services for producing electricity from solar energy Product manufacturing service business (Fiber optic equipment parts/Automobile parts/Metal parts) International trade business It is the procurement of products, raw materials, and parts for various industries. 2. Singapore: 32 companies, accounting for 18% of the number of foreign businesses in Thailand, investment of 3,294 million baht in businesses such as health rehabilitation center services. Electronic commerce business (e-Commerce) by using the deposit system for buying and selling goods and services. Software development service business for sale and/or service. Service business provided to affi liated companies. or companies in the group (Accounting services/Marketing planning and product promotion services/Debt guarantee services) Product manufacturing service business (Molds and jigs/vehicle parts/bioplastic products) 3. United States: 29 companies, accounting for 16% of the number of foreign businesses, investment of 1,048 million baht in businesses such as engineering service businesses. Brokerage and agent business in purchasing, sourcing, and distributing products (Electronic tools and equipment/computers/jewelry) Retail business (Instant food and beverages/industrial machinery) Business of coordination, management, and consulting services. and provide information in various fields About coverage according to insurance policies Product manufacturing service business (Car steering wheel/DRUM BRAKE ASSEMBLY) 4. Chinese 20 companies, accounting for 11% of the number of foreign businesses, investment of 2,886 million baht in businesses such as service businesses provided to affiliated companies. or companies in the group (Factory building space rental service) Product manufacturing service business (moulds/plastic parts for industry/flavours and flavorings) metal cutting service business (Coil Center) software development service business for sale and/or service business providing sub-franchise rights service business (Franchising) to operate the business of selling food and beverages. 5. Hong Kong: 11 companies, accounting for 6% of the number of foreign businesses in Thailand, investment of 1,017 million baht in businesses such as retail business. (Injection molding machine) International distribution center service business with modern systems Product manufacturing service business (Automotive spare parts and components/components made from aluminum) International trade business It is the procurement of products, raw materials, and parts for various industries such as electrical appliances. and electronics, etc., for wholesale in the country Business providing advice, guidance and management in t he management of restaurants and cafes. In this regard, it can be considered that the entry of foreigners into conducting business in Thailand in the past Especially in the above industries Helps to transfer technology, which is specialized knowledge from investing countries to Thai people, such as knowledge about safety in using gas measuring machines. Knowledge about electrical and electronic system design technology in electric rail projects Knowledge about knowledge in designing engineering products Knowledge about intelligent warehouse management systems, etc. However, when compared to the same period last year (January - March 2023), it was found that foreigners were allowed to invest in doing business in Thailand, increasing by 4 cases or an increase of 2% (January - March 2024, 178 cases were allowed / January - March 2023 allowed 174 cases) and the investment value increased by 2,854 million baht or an increase of 9% (January - March 2024 invested 35,902 million baht / January - March 2023 invested 33,048 million baht) while hiring Thai jobs decreased by 1,083 people or a decrease of 56% (January - March 2024, employing 849 people / January - March 2023, employing 1,932 people) with the highest number of incoming investors still being Japanese investors, as well as year ago For investment in the EEC area, in the first quarter of 2024, there were 56 foreign investors interested in investing in the EEC area, accounting for 31% of the number of foreign investors in Thailand. This increased from the same period last year, numbering 25, or an increase of 81% (January - March 2024, investing 56 people / January - March 2023, investing 31 people) and has an investment value in the EEC area of ??11,629 million baht, calculated is 32% of the total investment An increase from the same period last year of 8,365 million baht or an increase of 256% (January - March 2024 investment 11,629 million baht / January - March 2023 investment 3,264 million baht) are investors from *Japan, 12 investors invested. 995 million baht *China 12 companies invest 924 million baht *Singapore 8 companies invest 898 million baht and other countries 24 people invest 8,812 million baht etc. Source: Thai News Agency

Hanoi: The State Securities Commission of Vietnam (SSC) recently held an online working session with the World Bank (WB) and the Asia Securities Industry and Financial Markets Association (ASIFMA) to discuss ways to remove obstacles related to criteria for upgrading the Vietnamese securities market. Co-chaired by SSC Chairwoman Vu Thi Chan Phuong and Senior Financial Sector Specialist of the WB in Vietnam and Coordinator of the Financial Sector Programme Ketut Kusuma, the event focused discussions on the contents of the draft decree amending and supplementing certain provisions on securities trading, transaction clearing and settlement, operations of securities companies and market information disclosure. Speaking at the event, Phuong said the draft decree has undergone in-depth consultation through various channels, including the SSC's website, seminars, and working sessions with domestic and foreign experts. Feedback from ASIFMA members at the meeting is particularly valuable, as it will help refine the draft decree to align with international practices, she said. The session addressed critical issues, such as pre-funding requirement, payment processing procedures for foreign investors, and overall settlement capability of the Vietnamese market. By addressing these concerns, the SSC hoped to create a more attractive and efficient market for both domestic and foreign investors, ultimately paving the way for Vietnam's securities market to have its status lifted from "frontier" to "emerging"./. Source: Vietnam News Agency

Bangkok, SET invites entrepreneurs in target industries to prepare to enter the capital market and learn through the 'New S Curve to Capital Market Project' July-Oct. 2024. Lifefincorp Company Limited, under the Stock Exchange of Thailand (SET) group, together with the Center of Excellence in Life Sciences (Public Organization) (TCELS) National Innovation Agency (Public Organization) (NIA) and KPMG Thailand invite entrepreneurs in target industries including Life Science, High Technology, and High Growth to join the 'New S Curve to Capital Market Project' to learn through 4 courses, including Technical courses. Skills for Life Science, Business Innovation and Growth course, Accelerating New S Curve Business Success with Right Roadmap course and Unlock Your Business to Capital Market course through Workshop, Networking and One-on-One Coaching throughout 4 months (July-Oct. 2024), which was honored by expert speakers to share knowledge and techniques in business operations. Management skills Preparation for f undraising for growth Interested entrepreneurs Study details and apply to join the 'New S Curve to Capital Market Project' from today - 10 May 2024 at https://www.live-platforms.com/th/newscurve2024/ . Source: Thai News Agency

Hanoi: Standard Chartered Bank has lowered Vietnam's GDP growth forecast in 2024 to 6% from the previous 6.7% due to lower-than-expected Q1 growth and global trade headwinds. However, it is still an improvement from 5% in 2023. The country's Q1 GDP growth moderated to 5.7% (from 6.7% in Q4-2023). The bank lowered Q2 year-on-year growth forecast to 5.3% (from 6.3%) and Q3 to 6%. But Q4 growth is expected to be recovered to 6.7%. According to Standard Chartered's economist in its recent macro-economic updates about Vietnam, trade, a key source of growth and investment for Vietnam also faces short and long term challenges. However, Vietnam's recovery remains intact despite risks. Retail sales growth was still robust in Q1. Standard Chartered also lowers 2024 inflation forecast to 4.3% from 5.5 % to reflect lower-than-expected Q1 inflation. The bank expects rates to stay on hold at 4.5% until end-Q3 and could be raised by 50 bps in Q4 in response to growth-driven inflation. 'Vietnam is improving its position in global supply chains. Foreign investment continues to be attracted by a favourable investment environment and potential ramp-up of US-China trade tensions,' said Tim Leelahaphan, Economist for Thailand and Vietnam, Standard Chartered. 'With economic recovery starting to gain momentum, we think there will be less need to provide monetary policy support', he added. According to Tim, there is a balanced view on the Vietnamese given improvements on the external front and reserve rebuilding. Strong export growth provides some support for the currency. Imports point to further gains. The bank forecasts a current account surplus of 3.5% GDP in 2024./. Source: Vietnam News Agency

Bangkok, BAAC holds 17,239 prizes for the Pay Dee Mee Chok project, worth 208 million baht, giving luck and building morale in repaying debts to farmers. Distributed to both pickup trucks Motorcycle and Gift voucher Mr. Sunan Phongprayoon, Assistant Manager of the Bank for Agriculture and Agricultural Cooperatives (BAAC), presided over the 2nd Regional Pay Dee Meechok Award Ceremony to encourage and motivate customers to change their payment behavior. debt Leading to a sustainable solution to the household debt problem. According to government and BoT policy, with customers repaying their debts during January - March 2024, 1.63 million will be eligible to win a chance to win a total of 17,239 prizes. Consisting of Toyota Hilux Revo Z edition pickup trucks, 21 prizes, Yamaha Finn UBS version 2023 motorcycles, 45 prizes, and BAAC gift vouchers valued at 100,000 baht, 63 prizes, valued at 30,000 baht, 1,170 prizes, valued at 10,000 baht, 6,390 prizes, and valued at 5,000 baht. 9,550 awards worth 208 million b aht. Every award from BAAC aims to support in promoting careers. Bringing good fortune to reduce debt burden and building financial immunity For example, pickup trucks are used to transport agricultural products, BAAC gift vouchers are used to pay off BAAC loans, both for repaying debts of oneself or those in the family. Used to purchase various BAAC products or services, such as savings lottery, digital lottery, life support deposit products. Buy products in A-Shop BAAC will announce the names of lucky winners via the BAAC Mobile application, www.baac.or.th website and post the announcement at BAAC branches nationwide within 15 days after the prize draw. Customers who participate in the prize draw in each round will receive only 1 prize of the highest value and can contact to confirm their rights at the BAAC branch that entered into the loan contract. By bringing your ID card, house registration along with 1 copy to confirm within business days and hours within 90 days after the names are announced. There fore, we invite customers to join us in changing behavior and maintaining discipline in repaying debts. Plus get a chance to win with the Pay Dee Mee Chok project. With interest paid for every 1,000 baht, you will get 1 - 3 rights to win prizes. The faster you pay, the more rights you get. which such rights It will be drawn as a regional prize every quarter, a total of 3 times, and a national grand prize draw once, with a total prize value of over 479 million baht. In the next lucky draw. The prize draw is scheduled for July 24, 2024. Source: Thai News Agency

Singapore: Five Vietnamese enterprises operating in the fields of food and hospitality are attending the Food and Hotel Asia (FHA) 2024 which is taking place in Singapore from April 23-26. This year's event attracts over 1,500 businesses from more than 50 nations and territories and expects to welcome 60,000 visitors. Vietnamese booths draw the attention of many visitors with their wide variety of products such as confectionary, beverage, frozen foods, pepper and other spice products, and canned and dried fruit. Speaking at the opening ceremony, Singaporean Minister of Trade and Industry Low Yen Ling said that FHA-F and B is an equal playground for enterprises to seek collaboration in today's free trade agreement networks. It also aims at internationalisation, continuous innovation and sustainable development in the field of food and hospitality. Vietnamese Ambassador to Singapore Mai Phuoc Dung emphasised that the participation of Vietnamese enterprises has shown their enormous efforts in studying food and hospitality development trends in the world. He affirmed that the event also helps to promote more Vietnamese product to foreign markets. Through the event, Vietnamese enterprises anticipate opportunities to meet potential partners, bringing more Vietnamese agricultural brands to international market. Michael Duck, Executive Vice President of Informa Markets stressed that Vietnam is a supplier of many important food items and the event is an occasion to expand the market further./. Source: Vietnam News Agency

Bangkok, EGAT together with Lao Electricity State Enterprise, Chiyoda Company and Mitsubishi Company signed a memorandum of cooperation to study and develop the use of renewable energy certificates. To produce green hydrogen (Green hydrogen) and ammonia. in areas with potential in Thailand Moving forward with green energy, heading towards Carbon Neutrality and Net Zero Emission. The Electricity Generating Authority of Thailand (EGAT), Lao Electricity State Enterprise (EDL), Chiyoda Corporation (CYD), and Mitsubishi Company (Thailand) Ltd. (MCT) signed a memorandum of cooperation (MOC) to study and develop methods. Take advantage of cross-border Renewable Energy Certificates (RECs) to import renewable energy electricity from the Lao People's Democratic Republic (Lao PDR) to produce green hydrogen (Green hydrogen) and ammonia. in potential areas of Thailand including studying hydrogen business opportunities and green ammonia both in Thailand and abroad, with Mr. Debarat Theppitak, Governor of EGAT, Mr. Wongsa kul Yingyong, Managing Director of EDL Company, signing along with Mr. Yasuhiro Inoue General Manager - Hydrogen Business Department, CYD and Mr. Kazuhiro Watanabe Senior. Vice President, MCT signed as a witness at the Auditorium, EGAT 50th Anniversary Building, EGAT Head Office, Nonthaburi Province. Mr. Debarat Theppitak, Governor of EGAT, said that signing this time Following the signing of a cooperation agreement with leading Japanese companies in 2023 to study and develop a project to produce hydrogen and clean ammonia in potential areas, EGAT found that the cost of electricity from renewable energy is a factor that It has a significant effect on the price of hydrogen. EGAT therefore has an idea to study the utilization of hydroelectric power production in Lao PDR and if the cost of clean energy for the green hydrogen production project in Thailand decreased This will keep the price of hydrogen produced at a competitive level in both the domestic and international markets. Continuously push for the devel opment of hydrogen-related projects. Promote the use of clean energy to reduce carbon dioxide and greenhouse gas emissions. To achieve the country's Carbon Neutrality and Net Zero Greenhouse Gas Emissions goals sustainably. Mr. Wongsakul Yingyong, Managing Director of EDL Company, revealed that Lao PDR has the potential to be a source of renewable energy production. And there is an electrical network connected to EGAT. EDL is a state enterprise of the Lao PDR that has a role in planning the electrical system and overseeing the country's electrical energy security. This cooperation presents a good opportunity for the development of renewable energy through the study and application of RECs in green hydrogen and ammonia projects. It also promotes work and international relations. To move towards green energy in the future together Mr. Yasuhiro Inoue General Manager - Hydrogen Business Department (Mr. Yasuhiro Inoue General Manager Hydrogen Business Department) CYD representative said that CYD, as a global eng ineering company, is willing to support technical cooperation. To take part in the development and expansion of clean energy in Thailand, Laos, and Japan in the future. Mr. Kazuhiro Watanabe Senior Vice President (Mr. Kazuhiro Watanabe, Senior Vice President), representative of MCT, said that this study marks another step in expanding and completing the development of green hydrogen and ammonia production. in potential areas of Thailand Through importing renewable energy from Lao PDR using the RECs mechanism, which will help improve competition. This cooperation will create a source of green hydrogen production within the country. This will affect the development of clean energy in the region. That will be part of the move towards carbon neutrality that the world has a common goal for in the future. Source: Thai News Agency

Hanoi: Though the State Bank of Vietnam (SBV) has announced it is selling the US dollar to intervene in the USD/VND exchange rate since April 19, the greenback price has remained high, which has been directly affecting many domestic enterprises. The USD/VND exchange rate listed at VietinBank and BIDV on April 23 was at 25,180 VND and 25,485 VND per USD dollar for buying and selling, an increase of 20 VND compared to the previous session. Vietcombank's rate also stood high at 25,145 VND and 25,485 VND per dollar for buying and selling. This was the sixth session that the selling price of the dollar at banks has consecutively broken its peak, moving closer to the threshold of 26,000 VND per dollar. On the unofficial market, the dollar price on April 24 also increased by 90 VND per dollar for buying and 110 VND per dollar for selling compared to last week to reach 25,770 VND and 25,870 VND per dollar for buying and selling, respectively. In the context of the sharp appreciation of the dollar, the SBV on Apr il 19 announced it was selling the greenback to banks with negative foreign currency status at the price of 25,450 VND per dollar, 23 VND per dollar lower than the SBV's cap, to influence the exchange rate. This move is expected to help cool down the domestic exchange rate but it is continuing to accelerate due to the high level of the dollar in the international market. The sharp increase in the dollar price has caused difficulties to many domestic companies. A seafood import company in Hanoi, which declined to be named, calculated that for each 100,000 USD order paid to a partner, it would have to spend an additional 100-150 million VND. Nguyen Dang Hien, General Director of Tan Quang Minh Company, said the beverage manufacturing industry is facing many difficulties, including increased exchange rates. According to Hien, his company currently has to import some types of orange juice, some flavours and plastic beads from other countries and most have to be paid in the dollar, which has increased producti on costs by 4-5%. However, product selling prices have not increased for many months due to weak purchasing power. To limit damage from the rising exchange rate, the Tan Quang Minh Company is trying to promote the search for domestic raw material sources to replace imports, and increase exports to markets paying in the dollar, Hien said. Director of SKD Vietnam Mechanical Company Nguyen Van Ket said companies' plans will not be affected if the Vietnamese dong depreciates by some 2-3% this year as previously forecast. However, the dong has so far strengthened by nearly 5%, while raw material prices, input and international transportation costs remain high due to rising gasoline price, which cause more difficulties for businesses. In the context of the rising exchange rate, experts recommend that importing businesses need to pay attention to exchange rate risk prevention tools, and carefully consider the terms in foreign currency loan contracts. Besides, it is also necessary to maximise domestic resources a nd find alternative domestic partners to gradually reduce dependence on import markets to lower costs and limit risks when the world market fluctuates. In addition, businesses should also choose banks with good trade support capabilities, and consider using derivative financial instruments and swap contracts, appropriately and in accordance with regulations, to reduce risks when exporting in the context of the current exchange rate fluctuations./. Source: Vietnam News Agency