Day: April 24, 2024

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

Bangkok, Shopee reveals that 79% of GEN Z shoppers trust online e-commerce platforms to choose quality products. Shopee (Shopee) e-commerce platform Reveal information The latest about Gen Z shopper behavior is a rapidly growing group of people. in online shopping through e-commerce platforms According to an online shopping survey, 68 percent of Gen Z shoppers visit an e-commerce platform before making a purchase. The online shopping behavior of GEN Z shoppers takes into account product research. Product reviews and demos Trust from a trusted brand Including price information before deciding to buy. It is considered that 79 percent of the GEN Z group trusts e-commerce platforms for online shopping. Because they offer quality products along with a smooth shopping experience. good customer service and payment methods Convenience is another factor that Gen Z shoppers in Thailand value. Proportion: 74 percent of this group of shoppers Search for products and order products, complete on one e-commerce platform . Because shoppers receive a superior shopping experience by looking at reviews. Coupled with good customer service, this group of shoppers is very satisfied in terms of their experience before and after purchasing products. While 50 percent of GEN Z shoppers search for products on social commerce but decide to buy products on e-commerce platforms. From the report of The Future of Shopping: Engaging Generation Z Shoppers in the Digital Era, it is also revealed that 73 percent of GEN Z shoppers in Thailand are interested in 'fashion products', making Shopee aware of their shopping behavior. with products in this category It is considered a group worth watching in the fashion product group. We found interesting insights from Shopee insights in the first quarter of 2024, such as shirts, long jeans, and watches. Karan Ambani, Business Director, Shopee (Thailand), said that GEN Z is a group of users who grew up with the online world. and is considered an important force that will drive the digital economy. Not o nly in Thailand but on a global level. Shopee, as the number 1 e-commerce platform leader, therefore delivers the experience Aiming to stop development new initiatives To best serve our users. Source: Thai News Agency

Bangkok, SET closed today at 1,361.10 points, an increase of 3.64 points (+0.27%), trading value 38,553.81 million baht. Stock trading today The index swings in positive territory within a narrow range. It made the lowest point of 1,355.44 points and the highest point of 1,364.91 points. As for securities, today's change increased by 203 securities, decreased by 239 securities, and remained unchanged in 211 securities. Source: Thai News Agency

Bangkok, SET closed this morning at 1,360.90 points, an increase of 3.44 points (+0.25%), trading value approximately 20,063 million baht. Morning stock trading The index moved mostly in positive territory. The highest point was 1,364.91 points and the lowest was 1,355.44 points. Source: Thai News Agency

Bangkok, The SEC revealed that in the first quarter of 2024, it has prosecuted 14 cases of corruption against listed companies and unfair trading or stock manipulation. As for civil cases since 2017, perpetrators have been agree More than 1,566 million baht has been paid back to victims. Mr. Anek Yuyuen, Deputy Secretary-General and Spokesperson of the Securities and Exchange Commission (SEC), revealed at the April 2024 media briefing that the SEC currently has 2 matters in progress. It is 1. Regarding the enforcement of past laws and starting to see results including various lawsuits. 2.About the development of the capital market By enforcing the law in the first quarter of 2024, 14 cases have been prosecuted against offenders, such as corruption cases of listed companies. Unfair trading or stock manipulation, of which 14 such cases are divided into 11 cases of accusations against investigators, while the other 3 cases are civil actions. However, since 2017, there have been 61 civil cases punished. There a re people 241 people committed crimes, which the perpetrators have agreed to comply with, which is to pay back more than 1,566 million baht to the victims, and of these, there are 25 cases that have not complied, but 18 cases have already been filed, while the other 7 cases are pending. File a lawsuit As for capital market development, the SEC will bring technology to use in the capital market. Improving the rules for trading digital tokens in soft power businesses such as music and drama businesses will help support influencers, songwriters, and filmmakers, which will be a mechanism for the economy to improve. It is expected that This May we will be open for comments. For investment scams this year From January to March There are 300-400 whistleblowers per month, so far there are more than 1,000 cases. The SEC has measures to block websites, Facebook, TikTok and Instagram. The fastest within 15 minutes or the slowest within 24 hours. Source: Thai News Agency

Bangkok, Hot to very hot weather continues during the daytime. Therefore, heat accumulates. As a result, electricity use broke the record for highest electricity use, exceeding 35,668.8 megawatts, an increase of 4.5% from 2023. The Electricity Generating Authority of Thailand said that due to the extremely hot weather this year Causing electricity use to continuously surge to record highs (peaks) Most recently, there was a new national peak on April 23, 2024 at 10:53 p.m. at 35,665.8 megawatts, with an average temperature of 31.5 degrees Celsius, with the highest demand for electricity occurring last night. Higher than last year by 1,535.3 megawatts or 4.5 percent due to hot to very hot weather conditions during the daytime. Therefore, heat accumulates. Resulting in the highest electricity usage. Breaking the record for highest electricity usage in the country and becoming a new record again. The previous record for the country's highest electricity use was Occurred on April 22, 2024 at 10:57 p.m. at a lev el of 35,550.9 megawatts. On April 22, 2024, the average temperature throughout the country was approximately 35-38 degrees Celsius. While the record for highest electricity use in 2023 occurred on May 6, 2023 at 9:41 p.m. at a level of 34,826 megawatts. This is only in April this year, when the weather is extremely hot. As a result, electrical peaks have occurred 4 times. Source: Thai News Agency