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Tag: Thailand

  • Tealive set to expand into Thailand, India

    Tealive set to expand into Thailand, India

    Malaysian bubble tea chain Tealive is expanding its presence in Asia with exclusive franchise arrangements entered into for India and Thailand.

    Tealive, which launched successfully in the UAE last year, has signed a master franchise agreement with Indian QSR operator Devyani International Limited (DIL) to expand into India.

    DIL is India’s largest Yum! Brands franchisee, running KFC and Pizza Hut locations, as well as the country’s official Costa Coffee operator. DIL operates around 2000 stores in India, Thailand, Nigeria, and Nepal under several brands.

    “Partnering with a strong local operator like DIL gives us the ability to adapt and thrive in India while also extending the Tealive lifestyle to millions of new consumers,” said Loob Holding founder and CEO Bryan Loo.

    Loo also stated that Tealive is planning a “significant presence” in India, beginning with outlets in major cities this year.

    Tealive also intends to expand into Thailand with the local partner RD Group – the Thai KFC franchise holder.

    “We’re thrilled to kick off Tealive’s expansion in Thailand, just like we did in Malaysia,” Loo wrote in his LinkedIn post.

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  • Alibaba Cloud Expands Thai Presence with New Data Center

    Alibaba Cloud Expands Thai Presence with New Data Center

    Sean Yuan, Vice President of International Business and General Manager of Thailand, Indonesia, Japan, the Philippines, and the South Pacific Region at Alibaba Cloud Intelligence, stated, “Our latest data center strengthens our commitment to providing reliable, secure, and high-performance cloud services tailored to the needs of local businesses. With enhanced local infrastructure, we aim to empower enterprises to leverage the full potential of cloud technology, especially in generative AI applications.”

    With the addition of this new data center, Alibaba Cloud now operates 86 availability zones across 28 regions globally, solidifying its position as a leading cloud service provider in Southeast Asia. The first data center in Thailand was launched in 2022. Alibaba Cloud has over 140 security and compliance accreditations worldwide, ensuring top-tier protection and resilience for its cloud services. With two data centers in Thailand, Alibaba Cloud can provide scalable, elastic, and highly available cloud computing products with enhanced disaster recovery capabilities, all while adhering to strict security and regulatory standards.

    Alibaba Cloud is expanding its range of services to support businesses in Thailand, including elastic computing, storage, database, security, network products, data analytics, and artificial intelligence (AI) services. These services are designed to address specific challenges faced by different industries. By leveraging AnalyticDB’s cloud-native vector engine, businesses in Thailand, especially in the fintech and retail sectors, can create solutions that enhance customer interactions through customized large language model (LLM) applications. This allows companies to efficiently manage structured and unstructured data, develop chatbots, and provide personalized product recommendations, ultimately improving the customer experience.

    Alibaba Cloud’s Container Compute Service (ACS) simplifies workload deployment using Kubernetes, offering a serverless container environment that helps businesses scale their operations efficiently and focus on innovation while managing costs effectively. Alibaba Cloud offers industry-specific solutions tailored to digital-native clients in sectors such as fintech, retail, and public services. These solutions include the Elastic Desktop Service (EDS), eKYC solutions, a SuperApp equipped with development capabilities, and AI-driven sustainability solutions.

    Through partnerships with local companies like True Digital Group, Yell Group, and Codium, Alibaba Cloud has helped enhance operations and services using cloud computing products. These collaborations aim to improve efficiency, scalability, and innovation in various industries. Alibaba Cloud is actively working with local partners and universities in Thailand to support the digital transformation of businesses and foster digital talent. Initiatives include workshops, certified courses, and collaborations with universities to provide training in cloud computing and generative AI, as well as the launch of a global skills center at Chulalongkorn University to offer free training courses, boot camps, AI competitions, and leadership development programs. These efforts aim to enhance educational resources and promote a thriving digital landscape in Thailand.

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  • Thailand’s car production in 2024 drops to four-year low

    Thailand’s car production in 2024 dropped 20% from the previous year to a four-year low, owing to weaker domestic sales and exports, the Federation of Thai Industries (FTI) said.

    Car output dropped to 1.47 million units from 1.83 million in 2023. Production on a year-on-year basis contracted for the 17th successive month in December, falling 17.4% to 104,878 units, according to the FTI.

    Domestic sales fell 26.2% to the lowest level in 15 years, at 572,675 units, due to weaker demand as banks have tightened auto loan rules amid high household debt, said Surapong Paisitpattanapong, spokesperson for the FTI’s automotive industry club.

    Car exports last year fell 8.8% to 1 million units, due to geopolitical issues, competition from EVs and strict carbon emission measures in several countries, he added.

    This year, car production is projected at 1.5 million units, of which 1 million will be for export and the rest for the local market. The improvement will be supported by higher production of electric vehicles required under a state incentives scheme, and an expected rise in sales following government stimulus measures.

    Thailand is Southeast Asia’s biggest auto production center and an export base for some of the world’s top carmakers, including Toyota and Honda.

    Earlier this month, a luxury car importer reported that domestic sales of luxury cars in Thailand were estimated at 30,000 in 2024, down 25% from 40,000 the year before, as prospective buyers have been unable to avoid the impact of the sluggish economy.

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  • Thailand expects high-speed rail link to China to be ready in 2030

    Thailand expects high-speed rail link to China to be ready in 2030

    Thailand expects its 609-km (378 miles) portion of a high-speed railway that will connect it with China through Laos to begin operations in 2030, its government said, nearly a decade later than originally planned.

    More than a third of construction has been completed in the segment connecting the capital Bangkok to the city of Nakhon Ratchasima, about 220 km away and the whole line to Nong Khai at the border with Laos would be ready by 2030, said Thai government spokesperson Jirayu Houngsub.

    A $6 billion, 1,000 km rail line from the Laotian capital Vientiane to the southwestern Chinese city of Kunming began service in 2021, a venture 70% owned by Beijing. That line will connect with Thailand’s Nong Khai via Vientiane, about 25 km away.

    “This is an opportunity for Thailand to connect to the global economy,” Jirayu said, adding it would bring Thailand closer to its goal of becoming a logistics hub.

    The announcement comes a year after China urged Thailand to progress faster on the rail link.

    Discussions on the rail line started nearly two decades ago and Thailand and China signed agreements on its construction in 2017 with plans to begin operations in 2021.

    But construction met delays over disagreements on financing and design, and disruption from the Covid pandemic.

    The plan is part of Chinese President Xi Jinping’s ambitious Belt and Road trade and infrastructure initiative, which includes plans for three routes originating in Kunming that pass through Myanmar, Thailand and Vietnam.

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  • Thai VietJet partners with ECS Group’s AVS GSA Thailand to boost cargo operations on Bangkok-Mumbai route

    Thai VietJet partners with ECS Group’s AVS GSA Thailand to boost cargo operations on Bangkok-Mumbai route

    ECS Group is pleased to announce a new agreement between Thai VietJet and its subsidiary, AVS GSA Thailand on the Bangkok-Mumbai route.

    This collaboration boosts Thai VietJet’s cargo capabilities, leveraging ECS Group’s network and expertise to support the airline’s growing presence in the international cargo market. The first shipment under this agreement was successfully transported on January 21, 2025, on the Bangkok (BKK) to Mumbai (BOM) route.

    This partnership allows Thai VietJet to enhance its cargo offerings and optimize capacity utilization on its daily BKK-BOM-BKK flights. Using A320/321 passenger aircraft, the collaboration focuses on transporting general cargo, spare parts and e-commerce shipments. Key exports from Mumbai will include pharmaceuticals and garments, with transshipment opportunities via Bangkok to Thai VietJet’s broad route network.

    Jean Ceccaldi, CEO of ECS Group, stated, “This agreement with Thai VietJet underscores our dedication to empowering airline partners through our extensive network, advanced solutions, and industry expertise. By working together, we can support Thai VietJet maximize its cargo potential and seize new market opportunities efficiently.”

    Chirasak Chandratat, Managing Director of AVS GSA Thailand, commented, “Our collaboration with Thai VietJet demonstrates the power of partnerships in achieving growth and operational excellence. Leveraging ECS Group’s capabilities, we aim to enhance Thai VietJet’s cargo reach while delivering exceptional service to the market. This agreement marks a significant step forward for both organizations.”

    This partnership highlights ECS Group’s role as a global leader in air cargo services, while enabling Thai VietJet to expand its cargo operations and better serve the rising demand in key markets.

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  • Thailand resumes durian exports to China after temporary ban due to carcinogen detection

    Thailand resumes durian exports to China after temporary ban due to carcinogen detection

    Thailand has resumed exporting durians to China following a temporary ban due to the latter’s stricter requirement regarding Basic Yellow 2, a carcinogen.

    Itthi Sirilathayakorn, deputy minister of Thailand’s Ministry of Agriculture and Cooperatives, said exports were resumed on Monday, with 96 tons of durian worth 7.8 million baht (US$228,900) to be shipped to China on Monday and Tuesday via border channels in Nakhon Phanom and Chiang Rai.

    The shipments underwent stringent screening and certification to comply with China’s tougher import standards, The Bangkok Post quoted Itthi as saying.

    Basic Yellow 2, also known as Auramine O, is a coloring chemical typically used in fabrics, paper, leather, and house paint. It is classified as possibly carcinogenic to humans.

    Traces of the chemical were detected in some Thai durian shipments in late 2024, prompting China to enforce tougher import requirements earlier this month, including the newly added testing for the chemical.

    At the time, customs checkpoints across China were instructed to reject durian shipments lacking the lab test results certifying that the fruit was free of the chemical.

    Itthi said the ministry has since enhanced screening measures. As of Jan. 17, On January 17, six laboratories in Thailand were authorized by China customs to conduct Basic Yellow 2 testing, according to the Department of Agriculture. Four more labs are expected to be approved next week, increasing testing capacity to 1,300 samples per day.

    Some 100 durian containers from Thailand were reportedly sent back due to the increased scrutiny.

    These fruits were being sold at local markets for just 110-120 baht per kilogram, down from their initial prices of 230-240 baht, due to being overripe.

    The abrupt shift in import standards similarly left many Vietnamese businesses unable to adapt quickly, leading to delays or returns of durian shipments at the border.

    Some companies in Vietnam also had to redirect the durians to the local market, selling them at massive discounts instead of waiting for customs clearance.

    China imported 1.53 million tons of durian worth US$6.83 billion in the first 11 months of 2024, up 9.4% in volume and 3.9% in value from a year ago, according to customs data reported by Vietnam Agriculture News.

    Thailand accounted for 52% of the shipments, down from 65% a year earlier, while Vietnam’s share grew from 35% to 47% during the same period.

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  • Miniso opens first Thai flagship store in Bangkok

    Miniso opens first Thai flagship store in Bangkok

    Lifestyle brand Miniso is about to open its first theme park-style flagship store in Bangkok, Thailand.

    Located at Asiatique The Riverfront, the two-story, 600sqm space will feature more than 20 unique IP collections across various products, including plushies, toys, cosmetics, and stationery.

    The store will also introduce its Harry Potter collection to the country, showcased in a Hogwarts-inspired fireplace area. Additionally, themed zones and installations will feature characters such as Lotso Bear from Toy Story, Stitch, Winnie the Pooh, and a Minions zone.

    “By reimagining the shopping experience with IP collaboration at its core, we hope to capture the imaginations of shoppers around the world,” said the company.

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  • Thailand’s luxury auto sales drop 25% in 2024

    Thailand’s luxury auto sales drop 25% in 2024

    Luxury auto sales in Thailand plunged 25% to 30,000 units last year as a struggling economy hurt buyers.

    The slow economic expansion rate (projected to be 2.4-2.7%) and banks’ tighter criteria for auto loans have resulted in a negative impact across the the automotive industry, said Teeraphong Rodloy, country manager of Wearnes Automotive Thailand.

    “Overall sales in the luxury car segment were affected by these economic circumstances,” he said.

    Wearnes Automotive Thailand, the importer of British sports car maker Lotus Cars, said that prospective buyers have been affected by the impact of the sluggish economy.

    The slowdown extended beyond luxury vehicles. Pickups was among the segments with steepest declines.

    In the first 10 months last year sales of pickups dropped 39.5% to 137,456 units, according to the Federation of Thai Industries.

    Sales hit the lowest in 23 years, said Ratthakarn Jutasen, managing director of Ford Thailand.

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  • Thailand’s Telecom Revenue to Hit USD 11.2 Billion by 2029

    Thailand’s Telecom Revenue to Hit USD 11.2 Billion by 2029

    According to GlobalData, a prominent data and analytics company, mobile voice service revenues are expected to decrease due to a decline in mobile voice service ARPU, with operators offering unlimited free voice minutes in bundled plans.

    On the other hand, mobile data service revenues are forecasted to increase by 5.2% annually, fueled by the growing adoption of smartphones, mobile internet subscriptions, and the utilization of mobile data services. This is expected to grow in tandem with 5G services.

    GlobalData Telecom Analyst, Kantipudi Pradeepthi, noted that, while 4G services dominated mobile subscriptions in 2024, 5G subscriptions are expected to surpass 4G subscriptions by 2026. This shift is being driven by the increasing demand for 5G services and operators’ efforts in expanding their 5G networks.

    For example, True plans to upgrade 10,000 sites and achieve 95% 5G coverage by the end of 2025. In the fixed communication services sector, fixed voice services are declining due to a drop in circuit-switched subscriptions.

    However, fixed broadband service revenue is projected to grow by 2% annually from 2024 to 2029, supported by the increasing adoption of Fiber-to-the-Home/Business (FTTH/B) broadband subscriptions.

    Pradeepthi explained that the growing demand for high-speed broadband, the expansion of FTTH networks in urban areas, government initiatives to expand fiber network coverage, and the phasing out of DSL services serve as factors driving the growth of fiber broadband subscriptions.

    The revenue from pay-TV services in Thailand is expected to grow by 6.6% annually, driven by the growth in IPTV subscriptions and a steady increase in DTH and cable TV subscribers.

    In conclusion, Pradeepthi acknowledged that True is expected to lead the mobile service segment in 2024, while AIS will lead in the fixed broadband market, particularly in the FTTH segment.

  • Durian exports surge by 44% to $3.1B

    Durian exports surge by 44% to $3.1B

    Durian exports in the first 11 months of this year fetched US$3.1 billion, 44% up from a year earlier, customs data shows.

    China was the biggest market, accounting for $2.8 billion, or 90% of all exports, a 43% year-on-year increase.

    Thailand followed with $177 million, up 82%, while Hong Kong and Japan stepped up purchases by 16% and 85%. Shipments to Cambodia rose by 139 times to $3 million.

    Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association, said 2024 has been a bumper year for exports, especially of durian.

    The association estimated fruit and vegetable exports would hit $7.1 billion for the year, up 27% from 2023, with durian accounting for half the value.

    Durian exports are expected to rise next year as Vietnam begins to ship durian pulp and puree to China.

    These products will bring more value than fresh durian, helping farmers make use of fruits that meet quality standards but are misshapen.

    Vietnam has around 154,000 hectares under durian and produces 1.2 million tons of the fruit annually.

    Exports of other fruits such as banana, jackfruit, mango, and coconut have also seen year-on-year increases of 20-400% in the first 11 months.

  • AIS’s Strategic Vision for Empowering 5G with Autonomous Networks

    AIS’s Strategic Vision for Empowering 5G with Autonomous Networks

    At the 2024 Mobile Broadband Forum, Wasit Wattanasap, Head of Nationwide Operations and Support Business Unit, AIS, presented the company’s vision for integrating AI and advanced network orchestration within 5G frameworks, setting the stage for seamless, intelligent, and highly scalable telecom infrastructure.

    AIS’s approach centers on transforming network layers, from service orchestration to integrating AI-driven insights. This architecture, designed to optimize performance, reliability, and adaptability, places AIS at the forefront of a 5G-driven, AI-enhanced telecom landscape.

    AIS is leveraging advanced cognitive technologies to lead the digital transformation in telecom, focusing on AI, machine learning (ML), 5G, and autonomous networks to enhance operational efficiency and create innovative customer experiences. The company’s strategy in the mobile segment revolves around 5G monetization, where AIS aims to generate new revenue streams by offering premium services, experiences, connected vehicles, and innovative city applications, fully utilizing the low-latency and high-speed capabilities of 5G. AIS is also focusing on digital differentiation, offering personalized mobile experiences through AI that provide dynamic services and tailored content recommendations, ensuring an engaging and relevant customer experience.

    The company has set its sights on quality acquisition in the fixed broadband space by using AI-driven analytics to optimize service delivery, ensuring high performance and a seamless user experience. This approach includes predictive maintenance and customized broadband solutions. AIS is also introducing innovative broadband products, such as smart home integrations, gigabit internet, and 5G fixed wireless access (FWA), providing flexibility and high-speed connectivity in areas lacking traditional broadband infrastructure.

    Moreover, AIS is supporting the digital transformation of enterprise solutions by enabling enterprises to modernize their operations with AI, IoT, and cloud-based services, helping businesses embrace Industry 4.0 technologies. To achieve this, AIS offers enhanced connectivity for enterprises, providing reliable, high-speed 5G solutions to support mission-critical applications and ensure seamless operation.

    The backbone of AIS’s strategy lies in its data insights and customer care. By applying advanced analytics, AIS can predict and resolve customer service issues before they arise, improving satisfaction. AI-driven interactions facilitate seamless engagement, whether it be through chatbots, apps, or virtual assistants, offering a personalized customer journey.

    AIS is also enhancing agility, stability, and security in its operations. AI-driven IT intelligence continuously monitors and optimizes network performance, allowing AIS to respond quickly to changing market conditions and customer needs. In terms of security, AIS employs AI to detect and neutralize threats in real time, ensuring a secure environment for both consumers and enterprise clients.

    With autonomous networks powered by AI and ML, AIS aims to improve network reliability by enabling self-healing and self-optimizing systems. These autonomous networks automate operational tasks such as network provisioning and fault resolution, reducing costs while ensuring high-quality service even during peak traffic

    In terms of generative AI (GenAI), AIS is exploring new business models and customer experiences. AIS remains ahead of the competition by using AI to generate new product designs, service packages, and predictive insights into customer behavior. Generative AI also enhances customer interactions by delivering personalized content and recommendations in real time.

    Leading Thailand’s 5G-Advanced Transformation

    Wattanasap’s presentation emphasized that AIS is leading the way in 5G-Advanced technology in Thailand. It aims to redefine connectivity with a robust, autonomous network that presents new business opportunities and enhances customer experiences. By shifting from traditional traffic monetization to experience-driven models, AIS uses 5G’s ultra-low latency, high speed, and massive connectivity to offer personalized services like VR/AR, gaming, and smart city solutions. This approach allows AIS to create dynamic, tiered service offerings and monetize 5G traffic based on customer behavior.

    AIS’s strategy also maximizes 5G coverage across all frequency bands, ensuring reliable service in urban and remote areas. With the evolution from L3 to L4 network automation, AIS integrates self-healing and AI-driven decision-making, providing excellent reliability and cost efficiency as it scales its 5G network.

    In 2024, AIS is leading the way in Thailand by introducing the country’s first 3CC carrier aggregation and repurposing the 2.1 GHz spectrum for 5G, enhancing network capacity, and boosting speeds. The successful completion of the mmWave Gbps trials further positions AIS to provide ultra-fast, high-bandwidth connectivity in high-demand areas, enabling innovative services like cloud gaming and intelligent manufacturing.

    AIS also enhances customer care by integrating AI solutions that proactively predict and resolve issues, improving service efficiency and satisfaction. The company is transforming its operations with predictive analytics and automation, ensuring seamless customer support as it scales its 5G network.

    Living Network: Real-Time, AI-Driven 5G Experiences

    AIS’s Care Growth strategy focuses on creating a “Living Network” that adapts in real time to customer needs, offering on-demand 5G services powered by AI and machine learning (ML). By analyzing user behavior, network conditions, and service quality in real time, the network can automatically adjust to optimize experiences, such as prioritizing bandwidth for high-value users or enhancing quality for streaming and gaming.

    AIS also uses AI to promote 5G acceleration packages tailored to users’ needs, offering relevant services, improving customer acquisition, and increasing 5G adoption. The network identifies high-value users and adjusts bandwidth allocation dynamically to ensure seamless service, even during peak times.

    Utilizing experience-driven marketing, AIS can offer 5G packages instantly, boosting penetration rates and enhancing ARPU through personalized add-on packages that address users’ real-time needs. The system ensures differentiated experiences, guaranteeing low latency, high speed, and secure customer connectivity.

    Care Strategy: Liquid Network for Enhanced User Experience

    AIS’s Liquid Network Experience enhances user satisfaction by leveraging dynamic network management practices at the L3 and L4 stages.

    At the L3 stage, AIS handles burst events, cell outages, and traffic surges by adjusting capacity in real time, ensuring seamless connectivity during peak periods. This proactive approach improves customer satisfaction by over 10% and reduces churn through intelligent traffic compensation.

    At the L4 stage, AIS predicts network demand using AI-driven analytics, optimizing coverage and capacity minutes in advance to maintain service quality during high-traffic events. This predictive approach boosts user experience by up to 20%, ensuring stable connections even during congestion.

    AIS also compensates users during traffic floods, such as those prevalent in Chiang Mai, by rerouting traffic and offering faster speeds or extra data. This flexibility strengthens customer trust and loyalty.

    L4 Architecture Evolution: AI, Automation, and Customer Focus

    AIS is transforming its network operations with a robust L4 architecture to integrate AI, automation, and advanced data management. This transformation enhances customer service, workforce efficiency, and network optimization across three core layers—business, service, and core data.

    In the business layer, AIS employs the 2C (customer-centric), 2H (human-centric), and 2B (business-centric) framework. Customer-focused improvements aim to enhance user satisfaction through real-time fault management and AI-powered responsive support. Workforce optimization tools streamline field operations while enhanced business service orchestration and API-driven monetization support business growth.

    The service layer focuses on real-time network and resource management. Key elements include AI-powered fault detection, automated service orchestration, and workforce management, ensuring optimal resource use and service continuity. An integrated API Gateway facilitates seamless communication across systems and departments, further boosting operational efficiency.

    Enhanced DevOps automation with AI-driven orchestration and open API integration supports efficient network management and faster service deployment. Digital Twin models and AI-powered applications, like the FME and Call Center Copilots, empower autonomous operations and proactive issue resolution. The architecture promotes single-domain autonomy, allowing segments of the network to self-manage and adapt to changing demands efficiently.

    Industry Engagement and Contribution 

    Since 2022, AIS has consistently positioned itself at the forefront of the telecom industry, as evident in the range of prestigious awards recognizing its innovations, quality, and forward-looking strategies. Through its achievements, AIS has demonstrated a commitment to excellence in 5G and autonomous network (AN) solutions, emphasizing the transformative impact of these technologies on the industry.

    The company is also deeply committed to collaboration, working closely with industry partners to expand AN practices, and co-create sustainable, mutually beneficial partnerships. This collaborative approach enables AIS to foster innovation, build leadership, and drive digital transformation across multiple verticals. By joining forces with key stakeholders, AIS aims to empower diverse industries through cutting-edge digital solutions, cementing its leadership and contributing to the growth of a connected, resilient, digital future.

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  • Thailand’s average employee salary to grow 5% in 2025

    Thailand’s average employee salary to grow 5% in 2025

    Thai employees’ average salary is expected to rise by 5% in 2025, maintaining the same growth rate as this year, according to a recent survey.

    Key factors that affect salary hikes are performances of individuals and organizations, salary range and the organization’s competitiveness in the job market, the Total Remuneration Survey 2024 by professional services company Mercer shows.

    Some 91% of the organizations polled reported having short-term incentive plans such as bonuses, said the survey, which was cited by The Bangkok Post.

    The ratio of businesses offering long-term incentives (such as stock options) grew by 1.8 percentage points to 80.7% this year.

    The auto industry is expected to award its employees with the highest short-term incentives which accounts for 23% of total remuneration packages.

    The highest paying sector is the life sciences industry which compensates 20% more than the average for annual base salaries.

    “The average salary increase of 5% in 2025 reflects an ongoing commitment by Thai organisations to invest in their workforces,” said Thira Laulathaphol, career principal at Mercer’s Thailand, as reported by The Nation.

    “With 100% of surveyed companies planning salary increases, it is clear that Thailand has a competitive job market.”

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  • Thailand expects to collect global minimum corporate tax from Jan 2025

    Thailand expects to collect global minimum corporate tax from Jan 2025

    Thailand expects to implement a global minimum corporate tax of 15% on multinational companies from January 2025, its finance minister said on Friday.

    The government will urgently issue a law on the tax collection, Pichai Chunhavajira said on a local television program. Pichai’s comments came after a Reuters report that the cabinet on Wednesday approved draft legislation to collect the global minimum corporate tax.

    Under new rules being shepherded by the Organization for Economic Cooperation and Development (OECD), a minimum 15% tax will be charged on multinationals with an annual global turnover of more than 750 million euros (US$784.58 million), regardless of their location.

    Thailand’s corporate tax is currently set at 20%, but companies receiving incentives from the Thailand Board of Investment can get an exemption of up to 13 years.

    Vietnam’s parliament approved the minimum global tax rate last year.

    Indonesia, Southeast Asia’s largest economy, Malaysia and Singapore have also said they will implement the minimum tax rate in 2025.

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  • Thailand loosen EV production regulations

    Thailand loosen EV production regulations

    Thailand’s Board of Investment (BoI) has announced that the government would extend deadlines for electric vehicle (EV) manufacturers to meet domestic production quotas, addressing weak local market demand.

    Under the current EV 3.0 incentive program, manufacturers must produce one locally assembled EV for every imported EV or a 1:1 ratio.

    Companies failing to meet this quota in 2024 will face a stricter 1.5:1 production-to-import ratio by 2025.

    The policy aims to encourage automakers to establish EV assembly plants in Thailand, which has attracted EV-related investments totaling 80 billion THB ($2.3 billion).

    To further support the struggling auto industry, the government will extend domestic EV production requirements to the end of 2027. This move comes as Thailand grapples with stagnant market conditions caused by slow economic growth and tight credit policies.

    The Federation of Thai Industries (FTI) recently revised its 2024 automobile production forecast down to 1.5 million units, the lowest since 2021, citing weak domestic demand.

    During January and October, total car sales in Thailand dropped 26.2% year-on-year to 476,350 units, with pickup truck sales plunging 43%.

    The decline is attributed to stricter auto loan regulations amid concerns over rising non-performing loans and Thailand’s high household debt.

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  • Thailand to build new bridge to Cambodia

    Thailand to build new bridge to Cambodia

    The Thai government is constructing a new bridge to link Chanthaburi province in eastern Thailand with Pailin province in Cambodia, with an estimated cost of 15 million baht (US$431,400).

    During his visit to the Ban Pakkad border checkpoint in Pong Nam Rong district on Nov. 21, Deputy Prime Minister and Interior Minister Anutin Charnvirakul highlighted the bridge’s potential to boost cross-border trade and tourism between the two nations.

    Named the New Chanthaburi-Pailin Friendship Bridge, this concrete structure will replace the temporary steel bridge currently connecting the two provinces. The new bridge will span approximately 40 meters and include 3-meter-wide pedestrian walkways on each side of the vehicular lanes.

    With its improved design and infrastructure, the bridge is expected to significantly enhance logistics and trade efficiency between Thailand and Cambodia, fostering stronger economic ties.

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