Category: Business

Bangkok 25 June – Thai-Chinese Chamber of Commerce Revealed that Chinese businessmen are interested in investing in the EV business in Thailand, suggesting that next year, major electric car companies will raise their troops to invest in many more companies. China is not worried about setting up a new government It is expected that the money flowing throughout the 3-day meeting will be more than 500 million baht.

Mr. Narongsak Putthamongkol, Chairman of the Thai-Chinese Chamber of Commerce And the chairman of the 16th WCEC Organizing Committee said that this forum is a gathering of Chinese business people. World Chinese Business Forum It is a very important forum for Chinese businessmen and overseas Chinese businessmen from all over the world. Used as an opportunity to meet, exchange information and business opportunities, trade, invest, as well as strengthen relationships. and connect networks between them for maximum benefit

At this meeting, we try to present to the world that Thailand, we are ready for investment. by the Thai-Chinese Chamber of Commerce Focusing on the Eastern Special Development Zone (EEC) and the strategic plan under Thailand 4.0, this meeting was organized under the theme of creating a new history. with the wisdom of Chinese businessmen with the hope that there will be an opportunity to develop from "One Belt and One Road" is a regional economic partnership agreement. and the Guangdong-Hong Kong-Macao Economic Bay Area

. Interested in investing in the electric vehicle industry or EV and related industries in Thailand because it is believed that in the next 5 years there will be more cars using electric cars than combustion engine cars which the Thai government has already supported and promoted which now has many electric car camps from China Set up production bases in Thailand, including BYD, GWM, MG, and next year there will be major electric train companies. to invest in many more companies

Ready to reveal that Chinese businessmen are not worried. About the new Thai government because it believes that the government will be able to set up a government with certainty soon which no matter which government Or whoever is the government will help and can cause the development of Thailand to grow continuously.

“Confidence that Thailand is stable and strong. As for the issue of raising the minimum wage must go up when the time is right but should not be higher than neighboring countries would like to invite the world to invest in Thailand and asked Thai people not to think Chinese people who come to invest in Thailand are Chinese Tao, ”said Mr. Narongsak.

Mr. Narongsak also said that Throughout the organizing of the 3-day WCEC World Chinese Business Conference (24-26), there will be no less than 500 million baht of money in Bangkok. Over a hundred million baht-Thai News Agency.-Thai News Agency

Source: Thai News Agency

Bangkok, June 25- "Chao Suan Dhanin" invites Chinese businessmen around the world to invest in Thailand, especially in the EEC, and recommends using technology to develop the economy with the potential of the new generation. Point out that electricity bills must not be expensive and should come from clean energy. French nuclear power plant as a model

Mr. Dhanin Chearavanont, senior president of Charoen Pokphand Group President of the Overseas Chinese Business Association of the People's Republic of China and Honorary President of the Thai-Chinese Chamber of Commerce keynote address at the 16th World Chinese Entrepreneurs Convention: WCEC at the Thai-Chinese Chamber of Commerce Held at the Queen Sirikit National Convention Center that the world today has changed. and there is uncertainty which Chinese businessmen Overseas Chinese businessmen can use the crisis as an opportunity. and must be analyzed How to seize that opportunity?

In the past, China had to study various fields of technology from the United States. and must bring resources from around the world Both personnel, capital, technology and raw materials enter China. But today it can be said that China technology development and develop the economy to become the second rank in the world with fundamental factors in various fields Ready to change the development We have great confidence in China's economic development policy.

In this modern world with advanced technology The economic challenge is a competitive war in trade. Therefore, economic, service and technological developments must be developed, as well as the potential of the new generation must be developed to have knowledge and abilities comparable to international standards. Compete without fail on the world stage In which the future world will be the world of robots and biotechnology. Technology doesn't just replace labor. But it also improves efficiency up to 3-5 times, and workers do not have to fear losing their jobs. because it will shift to the service sector and new businesses instead

“Today, building a business It is convenient because of technology. have internet reveal the numbers see different suppliers However, despite doing a new business But in the end, it's inevitable that the manufacturing and logistics industries. and to invest in the manufacturing industry There will be investments in technology. In which the reform of the manufacturing industry can go on a study tour in China. about how the manufacturing industry is being reformed,” Mr. Dhanin said.

China invites CP to invest in motorcycle industry Although China also has a car industry. But because at that time China lost property, lacked technology, but at the same time China had a large market. He then searched for information until he found that The most durable motorcycle Drive up the hill, easy to repair, is Honda, which at that time in Japan This version is no longer used. because there is a better version Make negotiations to buy at a very cheap price When finished, it sells very well, so we have to choose the right technology. It doesn't always have to be the best technology, but now China has capital and technology. Therefore, it is an opportunity for various countries for Chinese businessmen to invest.

Our country has a policy to promote the development of Industry 4.0 through the development of the Eastern Economic Corridor (EEC) by providing various benefits. To projects that help drive the economy of Thailand, such as tax-free rights, projects that promote the creation of technology, etc. In the 4.0 era, the real economy is still important. Because e-commerce relies on Real Economy to produce tangible products. and rely on logistics especially land transport to deliver products to consumers Real economic development that uses innovation to produce high quality products. higher value It will help promote e-commerce and logistics businesses to continue to exist.

future world trade must pay attention to the use of technology Because when there is modern technology will increase productivity The quality of the product will be better. At the same time, the cost of production is reduced. meets the needs of consumers The economy in the 4.0 era does not mean that we should abandon our old business. But let us use modern technology to develop and improve our existing business. make business more modern and able to expand the business to more

“Our manufacturing industry has become 5 times more modern because of technology, including Big Data, which is competitive. If the products we produce are safe and cheap, it will be our strength. But if the production of expensive products is outdated, it may be outdated. I would like to leave you all to consider Thailand. at the center of Asia I hope that Chinese businessmen from all over the world will invest in Thailand, especially in the EEC such as Japan and Korea, which will mainly invest in Thailand, "said Dhanin.

Mr. Dhanin also said that In the future, the most important aspect of the manufacturing industry will be electricity. So electricity should be affordable and it should be clean energy. He used to go see nuclear power generation. in France which is the government's clean energy policy People are not opposed to nuclear power plants. because the government has measures to reduce risks or protect against risks where there is also a hydroelectric power plant wind power with But nuclear power plants are efficient. most productive It is clean energy that is the cheapest, which he thinks that in the future, the production of electricity from clean energy will be important. And nuclear power is interesting. .-Thai News Agency

Source: Thai News Agency

procedures posted the highest score among nine groups of key administrative procedures rated by Tax the report Administrative Procedure Cost Index 2022 (APCI 2022).

This reflected the unremitting efforts of tax management authorities to maintain the achieved achievements and continue to strongly reform administrative procedures to make it easier for businesses and people in performing tax administrative procedures.

Prepared by the Government’s Advisory Council for Administrative Procedure Reform with the support of the US Agency for International Development through the technical assistance project Linkages for Small & Medium Enterprises (USAID LinkSME), the survey shows the rate of filing and receiving online results of tax administrative procedures is at an absolute level.

In 2021 and the first months of 2022, the tax sector cut the number of administrative procedures to 234 from 304.

In addition, the General Department of Taxation has expanded channels to receive and process support requests of the people via Hotline, email, website, Chatbot, and Zalo; as well as built an automatic question-and-answer system on electronic invoices based on artificial intelligence (AI) technology to support taxpayers.

The report recommends the tax industry to continue improving and upgrading the online tax declaration and payment system on the General Department of Taxation’s portal; completing the application of e-invoices nationwide and improving the quality of law-making in the taxation field./.

Source: Vietnam News Agency

The Vietnamese Products Week 2023 was opened on June 23 in Japan’s Saitama Prefecture and all supermarkets and retail stores of the Aeon network in the country.

The annual activity, held by the Ministry of Industry and Trade, People’s Committees of Hanoi and Ho Chi Minh City in cooperation with the Aeon Corporation and scheduled to run through June 26, is part of the project “Promoting Vietnamese enterprises’ direct participation in foreign distribution networks by 2030”, aiming to raise Vietnam’s exports to Aeon trade centres to 1 billion USD in 2025.

Speaking at the event, Deputy Minister of Industry and Trade Do Thang Hai said that over the recent years, Vietnam has been transforming strongly to become a major global production centre with diversified products of competitive prices and increasingly high quality.

With the support of major retail groups in the world such as Aeon, Vietnamese businesses have more opportunities in expanding markets and exporting directly to foreign distribution systems.

Nguyen Huu Dai, CEO of Eco Straws Export Joint Stock Company, said that the Vietnamese Products Week in Japan helps Vietnamese businesses connect with Japanese partners and consumers.

It thus creates more jobs and adds value to Vietnamese agricultural products.

Vietnam's key exports such as agricultural products, processed foods, seafood, textiles, footwear, household appliances, and healthcare products are highlighted at Aeon trade centres during the week. Particularly, Vietnam's fresh seafood and tropical fruits such as lychee, longan, banana, dragon fruit, and fresh coconut are promoted to attract Japanese customers.

In addition, AEON Group also organises activities to promote the image, cultural identity, and tourism of Vietnam such as the performance of Vietnamese traditional dance, musical instruments, food performances, and Vovinam (Vietnamese traditional martial arts)./.

Source: Vietnam News Agency

The capital city of Hanoi has created jobs for 113,418 workers in the first six months of this year, achieving 70% of the year’s plan thanks to the implementation of numerous solutions, including increasing the frequency of job fairs, according to the municipal Department of Labour, Invalids and Social Affairs.

The Hanoi Employment Service Centre (HESC) has organised 124 job fairs during the review period with the participation of 3,635 enterprises, during which more than 8,800 people were recruited.

The centre has also coordinated with enterprises and vocational education institutions to speed up the training of labourers. Students and trainees have been helped to find jobs right after graduation.

However, the number of jobs generated in the first six months of 2023 fell by 4.5% compared to the same period last year. The decrease in job creation is attributed to difficulties faced by many businesses as a result of a decline in orders from major markets, rising fuel prices and high interest rates.

A shortage of staff for labour and employment affairs in some localities has resulted in a low number of workers who take part in vocational training.

To achieve the target of helping 162,000 workers find employment this year, the municipal Department of Labour, Invalids and Social Affairs will suggest the city’s administration issue a plan on collecting labour market information for 2023.

The department will direct the HESC to gather and provide information on recruitment and labour export through various channels for labourers and increase orientation work for vocational training and employment opportunities for workers.

Last year, Hanoi created jobs for 203,027 people, surpassing the set target of 160,000 people a year by 2025. Of the total, more than 116,742 people found jobs through employment counseling services, and 62,700 others obtain employment through preferential loans for job generation./.

Source: Vietnam News Agency

Credit growth since the start of 2023 remains low, Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu said, blaming that fact on both subjective and objective causes.

The SBV set this year’s credit growth target for banks at 11%, but total outstanding loans in the economy had reached some 12.32 quadrillion VND (over 523.9 billion USD) as of June 15, increasing 3.36% from the end of 2022 – a relatively slow pace compared to previous years, Tu told a press briefing on June 21.

He pointed to both subjective and objective causes, noting that businesses have been struggling with difficulties due to the shortages of orders, disrupted money flows, and big unsold inventory, which have forced lay-offs at some companies.

Besides, soaring material prices, declined purchasing power in both domestic and foreign markets, and difficulties facing some sectors like real estate have added further complications, he went on.

In the first half of 2023, the SBV has reduced interest rates four straight times, by 0.5 - 2% per year. It has also continued to encourage credit institutions to minimise expenses to stabilise lending interest rates to aid businesses’ recovery and development.

Credit growth still low in first half of 2023: SBV hinh anh 2

The SBV's press briefing on June 21. (Photo: SBV)

Thanks to the measures taken so far, interest rates have basically become stable, with deposit and lending interest rates gradually reducing, Tu said, elaborating that deposit rates at commercial banks currently stand at around 5.8% per year while lending rates for Vietnamese dong loans about 8.9% per year, down 1% per year from the end of 2022.

The SBV has governed credit in an appropriate manner to help control inflation and support economic growth. For 2023, given the economic growth target of about 6.5% and the inflation ceiling limit of 4.5%, it aims at a credit growth rate of 14 - 15% which will also be aligned to the reality.

The central bank also wants to see high credit growth, but this target should not be achieved by lowering standards to pump money into the economy at all costs. Good credit growth needs to be accompanied by quality and effectiveness, which is a conundrum for the SBV, according to the Deputy Governor.

In the time ahead, the SBV will keep a close watch on the market, the domestic economy, and the global economy to flexibly take measures to retain inflation, stabilise the macro-economy as well as the monetary and foreign exchange markets, and control credit growth in line with the set orientations.

In addition, to improve people and businesses’ credit access and protect their rights and legitimate interests, it will also step up connecting banks with companies, order credit institutions to facilitate customers’ credit access, diversify banking products and services, and streamline lending procedures, he added./.

Source: Vietnam News Agency

Indonesia plans to launch its carbon exchange in September, with power generation companies the first to trade on it.

The exchange will be operated by Indonesia Stock Exchange (BEI) under the supervisory of the Financial Services Authority, and the Ministry of Environment and Forestry.

According to director of the ministry’s department for the mobilisation of sectoral and regional resources Dr Ignatius Wahyu Marjaka, power producers that operate coal power plants and have a level of emissions lower than the level set by the government can sell emission allowances to their less efficient peers.

In February, Indonesia - Southeast Asia’s largest economy and the world’s eighth-largest greenhouse emitter - launched the first phase of mandatory carbon trading for 99 coal power plants owned by 42 companies and supplying electricity to state utility firm PLN.

More than half of the power generation in the country is sourced from coal.

Wahyu said that Indonesia is also looking into companies in the forestry sector that are quite capable and can meet the requirements to take part in the exchange in September.

Forestry and similar sectors linked to land use, together with energy and transportation, make up 97% of Indonesia’s pledge to reduce emissions and adapt to climate change.

Late last year, the government enhanced its target to cut emissions by 2030 by 31.89%, or by 43.2% with international financial support.

Wahyu said that Indonesian government is also identifying entities that contributed to removing 577 million tonnes of carbon dioxide equivalent (CO2e) verified under the United Nations Framework Convention on Climate Change between 2018 and 2020. The current identification is geared towards those accounting for 100 million tonnes CO2e of the overall figure, he said./.

Source: Vietnam News Agency