Vietnam Newswire

Nonthaburi,, Director of the Office of Trade Policy and Strategy or OTC follows trends in the art toy trade situation around the world. Found increased growth in both the global and Thai markets. Seeing commercial opportunities for artists and entrepreneurs Suggestions to expedite support and public relations To push the toy industry as well as supporting Thai artists to produce works continuously Help create work and increase income into the country. Mr. Poonphong Naiyanaphakorn, Director of the Office of Trade Policy and Strategy (Director of the Office of Trade Policy and Strategy), Ministry of Commerce, revealed that Art Toys are a type of collectible toy product that is currently in trend. Art toys are toys that are designed by artists or designers. It is a combination of modern art and traditional toys. Made from a variety of materials including plastic, vinyl, wood, steel, velvet and resin. The highlight of Art Toys is to focus on creating characters without having to have a story. But it has a new l ook. Produced in limited quantities causing competition for possession And if it's the work of a famous artist or is currently in trend. The demand is increasing. causing the price to increase as well In addition, the manufacturer It has also added the charm of selling in the form of random boxes (Blind Boxes), creating excitement for buyers from unboxing who don't know what form the art toy will be in. Until there was a trend in the style of pop culture (POP Culture) or contemporary culture that is very popular. The art toy market has grown significantly over the past decade. From the beginning it was just a product that was popular with a specific group. Until it has spread widely and is a popular phenomenon today. The main customer group is Gen Z (people born from 1995 onwards), office workers. (White-Collar) who are between 15-40 years old and more than 70 percent are women because they have a passion for products that are cute and collectable. In addition, data from HTF Market Intelligence, the world's leading market research company, indicates that in 2023, the world's art toy market value was 8,517.81 million US dollars. and is expected to grow by an average of 4.26 percent until reaching a value of 10,938.96 million US dollars in 2030. The largest art toy markets are in Asia, North America, and Europe, respectively. Countries in Asia that are centers of art toy production and collection include China, Japan, and South Korea. China, in particular, has the largest market and art toy production base in the world, as evidenced by POP MART Company, which It is China's leading manufacturer and distributor of art toys. There are more than 2,000 retail stores. all over china and spread to more than 100 locations around the world, including Thailand. According to China's Xinhua News Agency, more than 80 percent of the world's art toys are produced in China. One-third of them are produced in Dongguan, Guangdong Province. As of 2022, there were more than 87 large enterprises in Dongguan. Production of art toys an d created industrial output value of more than 16,660 million yuan (2,479 million US dollars), expanding by 29.80 percent from the previous year. Art toys are part of the products in the toy category. (Customs Tariff 9503) In 2023, the world market has a total import demand worth 50,044.82 million US dollars. for Thailand There is an import value of 128.26 million US dollars in 2023, an increase of 11.79 percent from last year's value of 114.73 million US dollars. By Thailand importing toys (including art toys) the highest from 3 countries: China, Japan, and Vietnam. At the same time, Thailand has an export value of 251.09 million US dollars in 2023, a decrease of 9.87 percent from last year's value of 278.58 million US dollars. by countries where Thailand exports toys (including art toys) in up to 3 countries, namely the United States, Japan, and the United Kingdom, according to information from Pop Mart Company, a well-known manufacturer and distributor of art toys in China. It is expected that Thailand wi ll be a potential market with rapid growth in the art toy category from an increasing number of buyers. There is also a habit of collecting all sets of purchases. This is unlike other countries where they are bought purely for fun. It is well known that many Thai artists and art toy designers have made world-famous works, such as Ms. Nisa Srikhamdee or Molly, the artist who designed "CRYBABY, the Girl with Tears", Mr. Patcharapon Tangruen or Alex Face, the artist. created 'Mardi, a child in a three-eyed rabbit costume' and Ms. Sirinya Puengsuwan or Poriin, the artist who created 'Fenni, a cute fox,' which is considered a good sign for art toys and other character products designed By Thai artists who can expand the market all over the world. Because art toys are not just toys or collectibles. But it is one of the products that buyers can use to decorate the interior of their homes. It is considered a work of art that indicates taste. And because Art Toys are products produced in limited quantities, not enoug h to meet demand As a result, the price of art toys has increased until they become assets. However, Art Toys are a product worth keeping an eye on. From the trend of the world's art toy market expansion and the increasing import of art toy products from Thailand. It shows the commercial opportunities of both Thai artists and entrepreneurs in developing products suitable for both domestic and international customer groups, such as inserting Thai art and culture into designs. Creating works with famous artists or characters and using beliefs as a component in design, such as the Ganesha art toy and the lucky cat art toy which can increase economic value Enhance the popularity of tourism and create Thai soft power along with recommendations to relevant agencies Accelerate the promotion of knowledge and product development public relations and create opportunities to showcase the talents of Thai artists and entrepreneurs To push Art Toys and the Thai toy industry to be known and accepted around the world. Sou rce: Thai News Agency

Bangkok, GPSC joins hands with Seaborg from Denmark to study opportunities for developing clean energy with SMR technology. It is expected to study the feasibility within 4 years. Mr. Worawat Pittayasiri, Chief Executive Officer and President of Global Power Synergy Public Company Limited or GPSC, the innovation leader in the electricity business of PTT Group, revealed that GPSC has signed a cooperation agreement with Seaborg Technologies Company. ApS, developer of SMR (Small Modular Reactor) technology, Denmark. To study the feasibility of developing SMR power plant technology, which is a technology that is highly safe. Does not release carbon dioxide into the atmosphere Therefore, it is an important alternative for producing additional clean energy from renewable energy sources in Thailand. which will answer the need for environmentally friendly electricity production The study will take approximately 4 years (between 2024-2027). For this cooperation Both sides will jointly study the possibility. Covers technology, safety, environment, law, risk factors, marketing and business development. including guidelines for infrastructure development and the appropriateness of the location and size of the electricity generating unit, approximately 200-800 megawatts, along with learning and exchange technological knowledge with each other To prepare both organizations for implementing the SMR power generation unit project in Thailand along with creating understanding with all sectors. Both government agencies Regulatory unit including the social sector and the public to build confidence and understanding of effective management systems It is very important to study the feasibility of SMR technology. In addition to studying the feasibility of hydrogen technology (Hydrogen) and carbon dioxide capture technology (Carbon Capture and Storage - CCS) that GPSC is already conducting. Source: Thai News Agency

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