DPM Somkid lauds arrival of Alibaba

The Deputy Prime Minister for Economic Affairs has welcomed Alibaba Group’s interest in investment in Thailand and voiced confidence that the Thai economy is recovering steadily and should see growth of over 4 percent this year.

Deputy Prime Minister Somkid Jatusripitak remarked at a signing ceremony attended by government agencies and Alibaba Group Executive Chairman Jack Ma, that the timing of Alibaba’s entry into Thailand is appropriate as the Kingdom’s economy is on an uptrend and the government is looking to support SMEs adopting digitization and to reform the agricultural sector.

The DPM lauded Alibaba as a strong and suitable partner for Thailand as it has shown a propensity to elevate low-income earners and its business does not focus too heavily on profit. The company’s business model rates its success on its ability to reduce poverty in China. Somkid said such goals are in line with the administration’s Thailand 4.0 agenda while reiterating his belief that the Thai economy will see growth of over 4 percent this year and that rapid changes will soon take place.

The Alibaba Executive Chairman stated Thailand’s history, tourist attractions, food and public, provide a strong foundation on which the company can build, explaining that it will be using the Internet to direct Thai SMEs towards an operational future expected to be conducted 80 percent online. The executive indicated that China is on track to become the world’s leading buyer in the next five years with annual purchasing power of over 8 trillion USD.

Mr. Ma gave his assessment that a third industrial revolution involving digital technology is approaching in Asia and that his company will use Thailand as a base for sustainable economic development. He said Alibaba plans to be a long term investor in Thailand.

Addressing accusations of unfair competition, the Alibaba chief explained his company always seeks a “Win-Win” outcome in the countries where it does business, pointing out that in Thailand it sees up to three winners; consumers, partners and business operators. He confirmed the company’s intent is to elevate Thai SMEs.

Minister of Commerce Sonthirat Sonthijirawong explained that the government will work with Alibaba to develop human resources in the digital realm and support E-Commerce through the Department of Industrial Promotion, Department of International Trade Promotion and the Alibaba Business School. Thai rice and durian are slated to become major items for sale at Alibaba’s flagship stores to kick start the E-Commerce evolution of Thai products and businesses.

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Reporter : Itiporn  Lakarnchua Rewriter : Tarin Angskul National News Bureau & Public Relations : http://thainews.prd.go.th

Thailand produces more than 178,000 vehicles in Feb

Domestic vehicle production expanded 15.37% year-on-year in February to more than 178,000 units, according to the Federation of Thai Industries (FTI).

Surapong Paisitpatnapong, spokesman for the FTI’s Automotive Industry Club, said a total of 178,237 cars were produced in February 2018. The number of vehicles manufactured for export stood at 98,625 units, an increase of 13.33%.

Furthermore, vehicle exports in February rose for the 4th consecutive month to 102,217 units, accounting for a 4.05% increase. Major buyers were Middle Eastern countries, the US, and South America.

Also in February, domestic car sales surged 10.3% to 75,466 vehicles. Surapong cited the Thai economic recovery as the main reason.

Should the trend continue, the spokesperson believes vehicle production will be around 2 million units this year, 1.1 million units for export and 900,000 units for domestic sales.

Information and Source

Reporter : Thammarat Thadaphrom Rewriter : Rodney McNeil National News Bureau & Public Relations : http://thainews.prd.go.th

Marking 25 years of ASEAN-India Partnership

CII / ASEAN-India / Marking 25 years of ASEAN-India Partnership

2017 marked the Silver Jubilee of the ASEAN-India partnership. This long standing  journey was filled with many exciting milestones. India became a full ASEAN dialogue partner in 1996 and in 2012, the two sides marked two decades of partnership. Both India and ASEAN recognize the potential of mutually beneficial policies and are working towards strengthening the bonds that both parties have forged together.

The celebration of 25 years of India-ASEAN partnership promises to establish new milestones in the development journeys of the two sides. India has invited all the ASEAN Heads of State/Government to its National Republic Day, a first for it, and all ten countries have confirmed participation. A high-profile ASEAN-India Business and Investment Meet & Expo is being alongside, which has been described by Hon. Prime Minister as the largest ever such show in India with ASEAN.

The booming economic relations between ASEAN and India are rooted in ancient connectivities and shared civilisational space extending over centuries and influencing both sides positively.

India’s Look East Policy of 1992 transformed into the Act East Policy of 2014 as enunciated by Hon. Prime Minister Narendra Modi. The Act East Policy has seen the Government of India redoubling its efforts to forge closer economic ties with ASEAN nations. Under this forward-thinking initiative, the Government of India has announced plans to revamp connectivity in the North-East states of India as it is considered a ‘gateway’ to ASEAN nations, along with negotiating a series of treaties designed to strengthen ASEAN-India trade ties.

Both ASEAN and India have benefited from close economic ties and recognize the potential for future growth and prosperity. ASEAN-India bilateral trade currently stands at more than US$70 billion. ASEAN and India are working towards reaching US$200 billion in bilateral trade by the year 2022, building on each other’s expertise and trade capabilities. The two sides enjoy a combined GDP of US$3.8 trillion, marking a large consumer market that can benefit both of them.

ASEAN-India trade ties have grown exponentially over the last couple of years. Bilateral trade has increased more than threefold from US$21 billion in 2005-06 to over US$70 billion in 2016-17. Thanks to the ASEAN India Free Trade Agreement (AIFTA), there has been an elimination of tariffs for multiple products, paving the way for future growth. In addition, the two sides have signed an agreement for trade in services and investments which will take their economic engagement to a new level.

ASEAN is India’s 4th largest trading partner, accounting for 10.2 per cent of India’s total trade in 2016-2017. India’s exports to ASEAN increased by more than 20 per cent during the same time. Investment flows too remain robust both ways, with ASEAN accounting for approximately 12.5 per cent of investment flows into India since 2000.

CII and the ASEAN Region

The Confederation of Indian Industry (CII) has worked closely with the Indian Ministry of External Affairs to organize key trade and business summits for strengthening the bond between ASEAN and India. The summits are designed as international platforms for India and ASEAN nations to explore new and existing avenues of cooperation.

CII’s efforts are directed towards bringing together Indian and ASEAN businesses together for fruitful dialogue and partnerships, in the backdrop of trade fairs, seminars, overseas missions, and conferences. As far back as 2004, CII had organised the first ever ASEAN-India Car Rally, which was once again replicated in 2012. These demonstrated the land connectivity between the two sides.

The first ASEAN-India Connectivity Summit, themed “Powering Digital and Physical Linkages” from 11-12 December 2017 in New Delhi, was hosted by CII in collaboration with the Ministry of External Affairs (MEA) and the ASEAN-India Centre (AIC). The event saw Indian and ASEAN ministerial representatives giving keynotes and engaging in fruitful dialogue. The summit also featured exclusive B2B and B2G meetings that allowed delegates to explore new avenues of business.

The ASEAN-India Business and Investment Meet & Expo 2018

CII is organizing the ASEAN-India Business and Investment Meet & Expo 2018 in collaboration with the Ministry of Commerce & Industry and the Ministry of External Affairs (MEA). The summit is being organized in the backdrop of the 31st ASEAN Leaders Commemorative Summit in New Delhi which will host ASEAN countries’ – Heads of State, Senior Government Officials and Industry leaders.

The ASEAN-India Business and Investment Meet & Expo will also feature an exclusive exhibition by Indian companies showcasing their key products.

The Summit presents an exclusive chance for delegates to exchange views with policy makers, industry captains, entrepreneurs and thought leaders. Delegates participating in the summit will also get an opportunity to enhance regional connects through convergence of new business ideas, unveiling of ‘ready-to-invest’ projects and new avenues for fundraising.

Do join us as we kickstart a new era in ASEAN-India economic ties!

2018’s Challenge: What Are Crypto Assets Really Worth?

Bradley Miles and Sid Kalla are the co-founders of Turing Group, an incubation and advisory firm focused on token protocol design and the ICO sales process.

The following article is an exclusive contribution to CoinDesk’s 2017 in Review.

If 2017 has taught us anything, it’s that there’s no shortage of tokens.

 

Yet, this strength in numbers has brought pitfalls for new investors and analysts, many of whom seem to be having a hard time trying to understand or value their options. Why is that? After all, Wall Street has been valuing other asset classes like stocks and bonds for over a century, and it has a fairly sophisticated models to value derivatives.

One of the primary reasons is that token behaviors can be vastly different among projects.

This is quite unlike the behavior or some traditional assets, such as stocks, which have very well defined value characteristics (dividends and price appreciation, arising out of expectations of future cash flows generated by a firm). In contrast, the value characteristics of crypto assets are very hard to define, let alone standardize for a valuation framework.

Sharing the wealth

The good thing though is we can witness, in real time, great economic experiments, even if most of them fail.

Even small choices in designing the right token can lead to differences in how the ecosystem distributes the value it creates. There is no universally right token design, only lessons learned and best practices to be gleaned.

This flexibility is a double-edged sword – there are unprecedented possibilities when it comes to designing the crypto-economic characteristics of protocols, but it’s also easy to mess up. This new asset class is going to be unlike anything we’ve seen before, and we’ll need our own unique set of tools and mental models to get things right.

After the speculative dust settles, crypto assets need to justify their valuation. The value that accrues to a token, however, isn’t trivial to identify or define. It is possible to create an immensely successful platform or protocol enabled by a token, where the value accrues to the users instead of the token holders.

One such example is the “utility token,” which we’re beginning to understand could support a huge economy with only a very small monetary base, if the velocity of money is high. In this way, entrepreneurs designing the next generation of crypto protocols need to realize that the role of the token is not just in creating value but also distributing that value.

One for all

As investors become more sophisticated and begin to grasp the underlying fundamentals of value creation in the ecosystem, they will naturally gravitate toward the protocols where reasonable value accrues to the token holders. The success of the protocol or the company building the protocol isn’t necessarily a measure of the success of the token.

Investors doing their due diligence need to understand the whole spectrum of token characteristics, from the token’s monetary policy to how the token facilitates interaction among the users. Add in the technical complexities of a lot of these projects, and you begin to get an idea of how early we are in this space.

Ultimately, the role of the crypto token in the protocol is essential to get right, but it isn’t a sufficient condition.

The token needs to do several things, and do them all right. It needs to incentivize the right economic behavior from the participants. It needs to enable the right modes of interaction among the stakeholders, including the users, investors and the development team. It needs to be able to build network effects and grow the ecosystem without hampering the incentives of existing stakeholders.

It needs to ensure that value is generated on the platform, and that value is distributed among the different stakeholders fairly in order to sustain the ecosystem for the long run.

Still have questions about tokens and ICOs? Share your thoughts on the ecosystem’s outlook. Email news@coindesk.com to make your views heard.

Bitcoin on scale via Shutterstock

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Interested in offering your expertise or insights to our reporting? Contact us at news@coindesk.com.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Canadians Harness Wind to Mine Bitcoin – in Romania

 

Canadian investors have decided to put money and effort into a wind-powered crypto mining undertaking in Romania. To make it happen, they have finalized a deal to acquire a wind farm capable of producing enough energy to light the bulbs in over 30,000 homes. Driven by enthusiasm about the project, they have even added “Blockchain Power” to their company’s name.

Who Told Them About China?

It is unclear if the Canadians knew in advance about the closed-door meeting in Beijing on the use of electricity by bitcoin miners. Regardless, they have obviously made a strategic decision to spend their money several time zones to the west of the People’s Republic – in Dobrogea. The region is shared by the poorest EU member states – Romania and Bulgaria. It is a flat, wheat growing land, with no hills or mountains to stop the constant air currents from all cardinal directions. Wind farms are a common sight there.

The Ontario-based Transeastern Power Trust has just finalized a deal to acquire the Dorobantu wind park that had been developed there by OMV Petrom with a €90 million investment. The company intends to use the farm to power the mining facilities it is planning to set up in its vicinity. Cryptocurrencies, including bitcoin, will be mined there, according to Romanian media reports.

Transeastern completed the acquisition of the 45MW wind park using $23 million of short-term bridge financing and €2.8 million vendor financing from OMV Petrom. The debt will be repaid from the proceeds of the previously announced $40 million private placement scheduled to close in the first week of January. The utility company has already announced a decision to change its name to Blockchain Power Trust, in line with its focusing on mining virtual coins.

We believe we will be the pioneers of a new and robust business model, switching from a utility company to a vertically integrated cryptocurrency mining operation.

These are the words of Mr. J. Colter Eadie, Chief executive officer of Transeastern. He also added that the name change and the implementation of a new trading symbol will better reflect the Trust’s expansion into cryptocurrency mining powered predominantly by its self-generated, 100% renewable energy. The company is working on similar projects through its subsidiaries elsewhere in Europe, including the Netherlands.

Winds Will Blow Even If Coal Burns Out

The Canadian company has already entered into a non-binding agreement to buy mining equipment for which it expects to pay approximately $23 million. According to Transeastern, its new mining farm will have a processing power of 90.7 PH/s. That translates into generating about 30 bitcoins per day.

Chinese coal may burn out for crypto miners and gorgeous “Gorges” dams may dry out, but it is still a huge global village. From Romanian winds and Dutch waves, to bursting geysers in Iceland and sun catching mirrors in Arizona – there is a lot of energy to prove the work for Bitcoin.

And it’s not just about North Americans or Eastern Asians: Bitcoin is growing big in obscure corners of good ol’ Europe, too. Romanian cryptocurrency exchange CoinFlux announced last year that almost $24 million (100 million RON) worth of cryptos had been traded on its platform since its inception in late 2015, And those were figures from times when bitcoin was trading for a thousand dollars.

The Transeastern “Blockchain Power” Trust from Canada seeks to provide investors with “long-term, stable distributions, while preserving the capital value of its portfolio through investment”. Bitcoin mining sounds like something the company can utilize to deliver on that promise.

Do you think miners will relocate to other regions after China’s decision to quit preferential policies for them? Tell us in the comments section below.


Images courtesy of Shutterstock.

 

Source: https://news.bitcoin.com/canadians-harness-wind-to-mine-bitcoin-in-romania/

57 billion baht in circulation during New Year

According to a government spokesperson, the prime minister is pleased with domestic spending during New Year holidays as tourism is expected to trigger 57 billion baht of cash flow.

Government spokesperson Lt. Gen. Sansern Keawkamnerd made the statement after Prime Minister General Prayut Chan-o-cha received a report which indicated energetic spending during this holiday season.

The spokesperson accredited the enthusiastic spending to commodity prices which are in the affordable range, thanks to the Commerce Ministry’s efforts to clamp down on unfair trading.

He said the government’s assistance measures such as the welfare card program and the ‘Shop for the Nation’ initiative have contributed to the positive spending atmosphere.

It is forecast that low income earners will spend a total of 57 billion baht during the festive season, which is equivalent to 3,765 baht per person.

Information and Source

Reporter : Nuppol Suvansombut Rewriter : Rodney McNeil National News Bureau & Public Relations : http://thainews.prd.go.th

Nokia deploys datacenter interconnect solution with Thailand’s INET

25 September, 2017

Bangkok, Thailand – Nokia has provided its DCI solution for Internet Thailand Public Company Ltd. (INET), marking one of the first long-haul DCI solutions in the country. Nokia’s Dense Wavelength Division Multiplexing (DWDM) technology will connect INET’s two datacenters in the capital city Bangkok to a site in Saraburi.

In keeping with the trend of Big Data, where major global customers are expanding their data hosting plans, INET has seen its datacenter business grow significantly over the past few years. The ICT solutions provider invested in multiple datacenter sites to support this growing demand, necessitating massive data connection requirements between sites to keep customer data secured and managed, with a better total cost of ownership (TCO).

Nokia has deployed its DCI solution in conjunction with reseller Teohong Silom Co. Ltd., helping INET introduce multiple types of datacenter interfaces and data rates to existing and new customers, thus assuring a highly reliable network. The solution is based on the 1830 Photonic Service Switch (PSS) and managed by the Network Services Platform. The 1830 PSS is a high-performance Dense Wavelength Division Multiplexing (DWDM) platform that delivers the capacity, security and control required for long-haul data center networks.

Wanchai Vach-shewadumrong, Deputy Managing Director, Internet Thailand Public Company Ltd, said: “As a leading ICT solutions provider that is growing its data center business, we were faced with the challenge of connecting multiple sites spread over increasing distances. A simple dark fiber connection proved insufficient for scaling the business, therefore we evaluated several DCI solutions in the market. Nokia’s product features and reliability, along with strong support from the local team, gives us the confidence we need to freely expand our datacenter capacity without the constraint of any interconnection bandwidth.”

Sebastien Laurent, country director at Nokia Thailand, said: “Our leading DCI technology allows INET to actively promote its DCI business both within the country and globally. Thailand is on the cusp of significant economic growth, especially as it is emerging as a major Southeast Asia hub given its strategic location. We are pleased to play a key role in INET’s growth plans and look forward to many more wins in this space.”

Did you know?
The DCI solution based on the 1830 PSS leverages the innovative Photonic Service Engine 2 Super Coherent (PSE 2s) digital signal processor chip. The PSE 2s provides the ultimate flexibility for capacity and reach. Supporting up to 500G capacity the PSE 2s was the first to support long-haul 200G, single carrier 400G and ultra-long-haul 100G.

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Home loan approvals break target on high economic confidence

Commercial banks have reported better than targeted growth in home loans during the first half of the year on the back of steady economic recovering bolstering public confidence.

Bank of Ayuthaya Vice President for Home Loans, Nattaphol Luepromchai said today that new loans for homes across the board were down 9 percent during the first half of this year as the real estate market slowed and many companies cut prices due to an oversupply. Meanwhile, financial institutions during the period relaxed loan approval regulations as the debt situation caused by the first car buyer scheme began to lift.

In the latter half of the year, new loans are expected to grow 5 percent on the recovering economy and high competition among banks.

Bank of Ayuthaya in the first half of the year issued loans for real estate worth 25 billion baht, 4 percent above target and expects full year approvals to reach 59 billion baht.

Information and Source

Reporter : Itiporn  Lakarnchua Rewriter : Rodney McNeil National News Bureau & Public Relations : http://thainews.prd.go.th

Weekly Economic & Commercial News & Report – Embassy of India 19th to 25th August 2017

Tapioca Price Control Planned
Deal aims to relieve local farmers’ losses

Bangkok Post, BUSINESS NEWS, 21 Aug 2017

 

Thai tapioca exporters have agreed to stop lowering prices to put a lid on the losses incurred by local farmers, industry officials said last week. Members of tapioca export agencies have agreed to work together to stop cutting prices for importers, mostly Chinese, in a bid to halt the domestic price from falling further, said Boonchai Srichaiyongpanich, president of the Thai Tapioca Trade Association. The Thai Tapioca Trade Association, Thai Tapioca Product Factories Association and the Northeastern Tapioca Association are scheduled to sign a memorandum of understanding (MoU) on the issue.

 

GDP growth forecast gets scaled up to 3.7% for year
The Nation, Economy, August 22, 2017

THE NATION’S top economic planning agency has raised its full-year forecast for economic expansion to 3.7 per cent, from 3.5 per cent, after export-fueled growth in second quarter surprisingly quickened to 3.7 per cent from the same quarter of 2016. Growth in gross domestic product (GDP) accelerated from 3.3 per cent in the first quarter, Porametee Vimolsiri, secretary general of the National Economic and Social Development Board (NESDB), said at a press conference yesterday. The faster rate of growth of in the second quarter was driven by exports, household consumption and private investment, the agency said.

 

New Excise Formula for Products, Services Approved
The Nation: Economy, August 23, 2017

The Cabinet yesterday approved a new excise formula for 13 products and four services, following a switch to calculations based on retail prices. Previously, the calculation method was based on manufacturing and import prices for the affected products and services. The change is effective from September 16, according to a source from Excise Department of Finance Ministry. Meanwhile, a 2 per cent increase in the excise for sugary drinks has been approved. The excise has been raised from 8.9 per cent. The change will take effect in two years. The lead-in time is meant to help producers revise their products by reducing the sugar content in their products, the source said.

 

Subsidy for Struggling Digital TV Channels
The Nation: News Feed. August 24, 2017 

The National Broadcasting and Telecommunications Commission (NBTC) yesterday resolved to allocate Bt616.464 million a year from the Broadcasting and Telecommunications Research and Development Fund as a subsidy towards the cost of ten high-definition (HD) digital TV channels transmitting their programmes to satellite and cable platforms. The transmission will run for |three years, beginning the current year. The ten HD channels are Channel 5, NBT, TPBS, MCOT HD, ONE HD, Thairath TV, 3HD, AMARIN TV, 7HD and PPTV.

 

Export target changed to 6 per cent
Khao Sod (Afternoon) | Aug 25, 2017

Pimchanok Vonkorpon, Deputy Director of the Trade Policy and Strategy Office, revealed that the Thai exports have been improving throughout the past seven months and are likely to continue growing. The Trade Policy and Strategy Office has increased its exports prediction range from 3.5%-5.5% to 5%-6%. The office predicted that the exports from July-December will achieve $19.18 billion on average. The exports for the whole year of 2017 are predicted to be $228.31 billion under the assumption that the Thai baht is 34-36 baht per dollar, crude oil price is $45-55 per barrel and the economy grow by 3.5%. Exports for electronic products, chemical products and rubber are likely to improve.

Rice exports have improved by 98.8% after the government released all of the rice in its stock and rice market is no longer suffer from price pressures. Imports were $125.61 billion or a 15.5% increase in the past seven months. Thailand has a current trade surplus of $6.78 billion. Jane Namchaisiri, President of the Federation of Thai Industries (FTI), stated that the Thai Industries Sentiment Index in July 2017 was 83.9, the lowest level in 10 months. This reflects that many Thai entrepreneurs are concerned over slow recovery in consumer consumption and want to see more stimulus measures from the government.

External

The growth of spending opportunity in India
Post Today | Aug 21, 2017

India’s economic development is perhaps 15 years slower than China’s and Southeast Asian countries’ but this means that India is adjusting and has relatively high possibility to grow further. India’s purchasing power per capita was very much lower than the US, Japan, South Korea and China in 2015.  India’s Prime Minister, Narendra Modi has a policy to build houses for poor people and gradually reduce the number of slums in the country. With at least 7% growth per year, India’s demand for products and services is growing very quickly. India aims to enhance the standard of living for its people.

 

Tourism agency plugs into 4.0
The Nation, Economy,  August 24, 2017

THE TOURISM Authority of Thailand (TAT) is adopting a Tourism 4.0 initiative to focus promoting uniquely Thai attractions that will promote quality and niche tourists. The authority will also promote new routes connecting Thailand with neighbouring countries in CLMV (Cambodia, Laos, Myanmar and Vietnam), to cash in on the development of the government’s Eastern Economic Corridor (EEC) project. Walailak Noypayak, TAT executive director for ASEAN, South Asia and the South Pacific Region, told a tourism forum hosted yesterday by Chulalongkorn University, that the government intended to apply the philosophy of the “sufficiency economy” based on the principles of traditional Thai culture into its development plan for a 4.0 economy.

 

Bilateral

Thailand to Be Regional Hub for Jet
The Nation: Corporate, August 21, 2017

India’s Jet Airways promises to cater for soaring passenger demand to Thailand
India-based Jet Airways’ business strategy in 2018 will focus on Asia with a plan to open more new routes in the region, including in Thailand. The airline plans to increase its local business and will take possession of 75 new Boeing 737 jets from June 2018 until 2020, according to Colin Neubronner, the airline’s senior vice president commercial for Asia Pacific and Southeast Asian Association for Regional Cooperation (SAARC). “Asia is showing aggressive growth in travel compared with others regions.

Up to 33 per cent of our international routes will come from the Asia market. This is the reason that we will expand our new Asian routes next year,” he said. Neubronner added that the company plans to increase its flights through Bangkok from its current five daily flights (three to Mumbai and two to New Delhi). There would also be new routes through Malaysia (Kuala Lumpur), Philippines (Manila), Indonesia (Jakarta) and China (Shanghai).  Neubronner said that Thailand would be its regional hub and act as a gateway to the CLMV countries (Cambodia, Laos, Myanmar, and Vietnam) and the company plans to increase its flights from Bangkok to Mumbai and New Delhi from next June.

 

India hoping to attract tourists from all over the world
Krungthep Turakij | Aug 23, 2017

It seems like Thai people have been more interested to visit India lately. India shows diversity in culture, nature and ancient sites which could be easily attracted many people. Indian government also wants to show the strength in tourism and they want to promote tourism in India by launching 4 main plans, including flexible regulation on E-Visa, stimulating aviation industry in the nation, promoting medical tourism and developing cruise pier. Indian government wants to stimulate revenue from tourism and India could be main rival of Thailand in tourism industry.

 

BOI suggests to eye on shining biz
Daily News (Morning) | Aug 23, 2017

Chokedee Kaewsang, deputy secretary-general of Board of Investment or Bol, said there were several interesting emerging markets that have opened for foreign investment, including the United Arab Emirates (UAE), Ethiopia, India, South Africa and Tanzania. He said that they have high potential for Thai investors. There are 1.3 billion populations in India and it has reflected the massive demand in Indian market. Automobile market in India has been growing rapidly. Furthermore, the industries will be benefited from lower price of production cost.

Seminar /Road show on World Food India 2017.
24th August 2017

Embassy of India, Bangkok in collaboration with the Federation of Thai Industries and the Ministry of Food Processing Industries, India organised a seminar /road show on World Food India 2017. Minister of State for Food Processing Industries of India, H.E.Sadhvi Niranjan Jyoti visited Bangkok on 24-25 August, 2017 and presided over the “Road Show” in the context of forthcoming “World Food India, 2017 to be held in New Delhi on 3-5 Nov, 2017.  Around 65 Representative from food industry, member of FTI and Thai chamber of commerce attended the event.

Tourism and Sports Minister highlights tourism plan for world heritage site in 4 lower northern provinces

The Minister of Tourism and Sports has highlighted on the cultural world heritage tourism plan for four lower northern provinces, amplifying the local identity to stimulate spending through community-based tourism.

Tourism and Sports Minister Korpkarn Watthanawarangkul has stated that the strategic policy to drive tourism in Thailand is the distribution of tourists.

During her visit to the cultural world heritage development zone in four lower northern provinces including Sukhothai, Phitsanulok, Kamphaengphet and Tak, she found that both Thai and foreign tourists were interested in in taking routes through three historical parks from Sukhothai to Kamphaengphet and Si Satchanalai.

The statistics show that the revenue of the four provinces in 2016 totaled 18.114 million baht and 9.675 baht in the first half, up by 5.04 percent over the same period last year and it is likely to grow at the end of this year if tourists stay longer and spend more at world heritage sites and communities.

The Minister of Tourism and Sports also delivered the tourism development policy that will promote the development of local identities and the local way of life. Income distribution from the main cities to other areas will also be emphasized, she said.

Information and Source

Reporter : supawadee wangsri Rewriter : Nattakorn Ploddee National News Bureau & Public Relations : http://thainews.prd.go.th

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