The Bank of Thailand and commercial banks are collaborating to assist vulnerable customers, with Prime Minister requesting lower lending rates. Thailand’s economy is projected to grow 2.8% in 2024. Efforts to Support Vulnerable Customers The Bank of Thailand (BoT) is collaborating with commercial banks to adjust their business models in order to provide assistance to […]
SCB EIC predicts CLMV economy expansion in 2024 due to export and tourism recovery, improving economic conditions and labor market recovery, but faces challenges like high non-performing loans and geopolitical risks. Key Takeaways SCB EIC forecasts that the CLMV economy will continue to expand in 2024, driven by the recovery of exports and tourism, which […]
Thailand considers imposing 7% VAT on Chinese goods under $40 to protect local businesses. China is Thailand’s top trade partner with investments in various sectors. Thai Government Considers Imposing VAT on Chinese Goods The Thai government is contemplating enforcing a seven percent value-added tax on Chinese products priced below 1,500 baht (US$40) that are funneled […]
Cyberattacks on financial firms have doubled since the pandemic, with losses reaching $2.5 billion. Developing effective cybersecurity strategies, cooperation, and regulation is crucial to address cyber risk successfully. Cyberattacks on the Rise The number of cyberattacks has more than doubled since the pandemic began, with some companies experiencing heavy tolls from these incidents. For instance, […]
China’s new data export regulations ease compliance thresholds, provide exemptions for certain scenarios, and allow free trade zones to implement their own rules, benefiting companies engaging in cross-border data transfer. New Regulations for Cross-Border Data Transfer in China The Cybersecurity Administration of China has introduced new regulations to streamline cross-border data transfer for companies operating […]
Thailand’s economy grew only 1.9% last year, much lower than its Southeast Asian neighbors. Factors include slow demand from export markets and a shift towards high-skilled services. Despite challenges, the economy is expected to improve with a 2.6% growth this year due to factors like tourism, exports, and private consumption. Thailand’s Economic Slowdown Thailand’s economy […]
Sony Group has opened a new semiconductor fab in Thailand to increase production of automotive image sensors, creating 2,000 jobs and focusing on advancing driver-assistance systems technology. Key Takeaways Sony Group has recently launched a new semiconductor fab in Thailand to increase production of automotive image sensors for driver-assistance systems. The facility, located in Pathum […]
XTransfer debuts in Thailand at “STYLE Bangkok 2024”, offering innovative payment solutions to promote trade between China and Thailand with a 32.5% increase in money collected from Thai SMEs. XTransfer Launches in Thailand at “STYLE Bangkok 2024” XTransfer, a leading B2B cross-border trade payment platform, has introduced its services in Thailand at the “STYLE Bangkok […]
