Tag Archives: เศรษฐกิจ

Honda launches “Change… for Safety” free of charge campaign

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Honda launches “Change… for Safety” free of charge campaign

Honda launches “Change… for Safety” free of charge campaign

TUESDAY, SEPTEMBER 27, 2022

Honda launches “Change… for Safety Because Our Care Never Changes” campaign to encourage customers to have their vehicles checked if airbag inflators need replacement free of charge at Honda Service Centres nationwide. (

According to the 2050 Honda Target, safety is one of Honda’s targets for its business to reach “zero traffic collision fatalities” involving its cars and motorcycles worldwide.

The replacement of affected airbag inflators demonstrates Honda’s responsibility for product quality and commitment to boosting customers’ confidence and safety continuously.

Honda is launching the “Change…for Safety Because Our Care Never Changes” campaign to broaden its reach and convey to Honda customers whose vehicles are subject to the replacement of the affected parts that they should take their vehicles to receive replacement airbag inflators free of charge at 228 Honda service centres nationwide.

Since 2014, Honda has continually placed importance on following up with customers to have their vehicles inspected for free replacement of the airbag inflators, widely reaching out to all Honda vehicle owners.

Honda recently discovered some customers have not yet identified vehicles inspected, as a change of vehicle ownership meant Honda was unable to contact this particular group of customers.

As a result, Honda has continuously made public announcements to reach these customers through several communications channels, including launching the new “Change… for Safety Because Our Care Never Changes” campaign.

Honda launches “Change… for Safety” free of charge campaign
Honda launches “Change… for Safety” free of charge campaign

Various Honda models added to the list of those requiring replacement of airbag inflators manufactured and sold between 1998 and 2014 are:


Brio               2012 -2014
Brio Amaze   2014
City               1998 – 1999, 2003 – 2013
Jazz              2004 – 2006, 2009 – 2013
Civic              2001 – 2014
Accord          1998 – 2000, 2003 – 2012
CR-V            1998 – 2000, 2002 – 2011, 2013
Stream          2002 – 2004
Freed            2009 – 2013
Odyssey       1998 – 1999, 2004 – 2006

Honda owners can also check whether their vehicles’ airbag inflators are subject to the replacement of the affected parts by entering their Vehicle Identification Number (VIN) at https://vinsearch.honda.co.th/ or by contacting the Honda call centre https://vinsearch.honda.co.th at 02 341 7777, press 0, available 24 hours daily.

MPC’s goal is to maintain economic, pricing stability: secretary

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MPC’s goal is to maintain economic, pricing stability: secretary

MPC’s goal is to maintain economic, pricing stability: secretary

THURSDAY, SEPTEMBER 29, 2022

THE NATION

The Monetary Policy Committee’s (MPC) ultimate goal in implementing financial policies is not to stabilise the value of the baht but to maintain stability of the economy, pricing and the financial system, MPC secretary Piti Disyatat said on Wednesday.

Piti’s comment came after the MPC on Wednesday raised the policy interest rate by 25 basis points to 1.00 per cent per annum in a bid to tame the impact of inflation on economic growth.

The latest hike by a 0.25 percentage point followed a similar increase last month.

Piti said the committee voted to raise the policy rate because the economy was still recovering, driven by tourism and private sector spending, while inflation remained high.

The MPC has been evaluating the baht’s trend and believed its current value (at 37.93 baht to the US dollar in opening trade on Thursday morning) would not impact Thailand’s overall economy and inflation due to three main reasons:

First is the fact that the weakening of the baht has been caused primarily by a strengthening US dollar due to a series of Federal Reserve rate hikes.

Secondly, Thailand has no problem regarding fund outflows as investors still view the country as having high potential thanks to its substantial foreign reserves – placing the kingdom sixth highest in the world – while the country’s reserves are three times bigger than its foreign debts.

“Lastly, the weakening of the baht has been beneficial to exporters. As for importers who face higher costs, they usually mitigate the impact by planning ahead and using financial tools,” Piti said.

He insisted the MPC is monitoring the baht value closely and will employ “suitable financial measures if necessary to achieve its goal” to maintain the stability of the economy, pricing and financial system.

“The MPC will not use any drastic measure just for the sole purpose of stabilising the baht,” he promised.

The committee has raised its estimate of this year’s headline inflation from 6.2 to 6.3 per cent and next year’s from 2.5 to 2.6 per cent. It also reduced its GDP growth estimate next year from 4.2 to 3.8 per cent, while 2022 GDP was forecast at 3.3 per cent.

The MPC, however, expected the tourism industry to flourish this year and raised its estimate of foreign arrivals from 6 million to 9.5 million visitors in 2022, and from 19 million to 21 million in 2023.

Rung Sa-Nguanreuang, senior director of Global Markets Business Promotion at Bank of Ayudhya, said the bank expects the MPC to raise the policy rate again by 0.25 percentage point in its next meeting on November 30, and twice within the first quarter of 2023, with the rate staying at 1.75 per cent early next year.

The tourism industry alone might not be adequate to keep the baht afloat, she said, estimating that the Thai currency could start becoming stronger as late as the first quarter of 2023.

THE NATION

Weakening of baht might slow down with market in risk-on state: strategist

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Weakening of baht might slow down with market in risk-on state: strategist

Weakening of baht might slow down with market in risk-on state: strategist

THURSDAY, SEPTEMBER 29, 2022

THE NATION

The baht opened at 37.93 to the US dollar on Thursday, strengthening from Wednesday’s close of 38.30.

The currency is expected to move between 37.85 and 38.15 during the day, Krungthai Bank market strategist Poon Panichpibool predicted.

He said the baht’s weakening might slow down as the market is in a risk-on state and this could put pressure on the dollar, leading to a weakening of the US currency.

Poon suggested monitoring foreign transaction flows as investors might return to purchase Thai stocks and long-term bonds after bond yields increased significantly while those in other countries decreased.

Moreover, Poon said, if the gold price increases, it might slow the weakening of the baht. The currency’s resistance level is now 38.20 to the dollar.

However, the baht is still under pressure after the central bank’s Monetary Policy Committee (MPC) said it would increase the interest rate gradually. The market, however, expected the MPC to increase the rate quickly.

The market might be in a risk-on state for a short period, he said. It will be a bear market rally until the US 10-year bond yield turns over as the US Federal Reserve signals it may not increase the interest rate rapidly, believing the global economy is not all bad.

In Thailand, most importers are waiting for the baht’s value to head down before purchasing the dollar, Poon said, adding that the support level for the Thai currency is between 37.80 and 37.90.

He advised investors to use hedging tools such as options to manage risks in a highly volatile currency market.

THE NATION

KResearch maintains Thailand GDP growth projection for 2022 at 2.9%

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KResearch maintains Thailand GDP growth projection for 2022 at 2.9%

KResearch maintains Thailand GDP growth projection for 2022 at 2.9%

WEDNESDAY, SEPTEMBER 28, 2022

And Kasikorn Research Center projected a range of 3.2-4.2 per cent for 2023; hopes pinned on tourism to mitigate impacts of economic recession among Thailand’s partners 

Amid rising concerns about the economic recession in many countries – the US in particular – the Thai economy has only just emerged from the doldrums. 

Nattaporn Triratanasirikul, Deputy Managing Director, Kasikorn Research Center Co., Ltd. (KResearch), holds the view that the US economy is set to plunge into a technical recession once more from the end of 2022 to early 2023. Likewise, the European economy may see a quarter-on-quarter contraction for two successive quarters.

Under these circumstances, the Thai economic recovery will thus receive less support from exports. Worse, inflation is expected to remain persistently high worldwide due to protracted international political disputes.

Therefore, the Thai economy will be primarily driven by an improved tourism sector during the remainder of 2022 and into 2023.

Tourist arrivals for this year are projected at 9.75 million, an increase from the previous projection of 7.2 million.

For 2023, the number of international tourists is expected to rise to 13.0-20.0 million, which would remain substantially less than the pre-Covid level of 40 million.

Overall, KResearch maintains its GDP projection for 2022 at 2.9 per cent. Even though GDP growth for 2023 may accelerate to 3.2-4.2 per cent, close attention should be paid to multiple risks, namely runaway inflation, rising interest rate trends and economic slowdowns among Thailand’s trading partners.  

Regarding the interest rate outlook, it is expected that the US Federal Reserve (Fed) will press ahead with its policy rate hikes at the two meetings during the remainder of 2022. Further rate increases may also be seen early next year depending on the rate of inflation and the planned extent of each Fed Funds rate hike.

KResearch maintains Thailand GDP growth projection for 2022 at 2.9%

Meanwhile, Thailand’s Monetary Policy Committee (MPC) may continue to increase its policy rate at least until the first quarter of 2023, albeit at a relatively meager pace. As for the Baht outlook during the remainder of 2022, it will likely remain weak as long as the US dollar is supported by the Fed’s policy rate hikes.    

KResearch maintains Thailand GDP growth projection for 2022 at 2.9%

Thanyalak Vacharachaisurapol, KResearch Deputy Managing Director, is of the view that signals regarding policy rate hikes given by Thailand’s Monetary Policy Committee and the policy that aims to raise contributions to the Financial Institutions Development Fund (FIDF) to the previous level of 0.46 per cent, taking effect at the beginning of 2023, may prompt commercial banks to gradually raise their fixed deposit rates and standard loan rates although liquidity remains at elevated levels.

Higher interest rates may not trigger a potential NPL cliff as commercial banks have hastened their debt restructuring and undertaken proactive debt management, but close attention must be paid to issues related to their asset quality and customer assistance measures.

KResearch expects that the NPL to total loan ratio in the Thai commercial banking system will be within a range of 2.90-3.10 per cent by the end of 2023, against the 2.88 per cent recorded at the end of the second quarter of 2022. Loans within the Thai commercial banking system are expected to grow within a range of 4.5-6.0 per cent in 2023, versus the 5.0-per cent growth projected for 2022, or relatively moderate growth amid increased economic uncertainty.  

KResearch maintains Thailand GDP growth projection for 2022 at 2.9%

Regarding the industrial sector for the remainder of this year and in 2023, Kevalin Wangpichayasuk, KResearch Deputy Managing Director, is of the view that most industries still face multiple challenges, particularly slowdowns in core economies that are among Thailand’s major trade partners. As a result, export-intensive industries may not fully benefit from the Baht’s depreciation.

The tourism sector faces a similar dilemma, as major tourist markets have to deal with their weakening currencies, while some countries are at risk of economic recession. Additionally, prices of airline tickets and other travel expenses are higher due to soaring energy prices. These factors have an impact on foreign tourists’ decisions regarding travel and spending.

Meanwhile, the Baht’s depreciation by 10-15 per cent will raise import costs by around 2.2 per cent on average. Consequently, the industrial sector must be prepared to tackle these challenges which could undermine its path toward recovery next year. 

Manufacturing expo brings intelligent tech and solutions from world’s leading brands to Thailand

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Manufacturing expo brings intelligent tech and solutions from world’s leading brands to Thailand

Manufacturing expo brings intelligent tech and solutions from world’s leading brands to Thailand

THURSDAY, SEPTEMBER 29, 2022

Fireworks Co Ltd is holding the “Manufacturing Transformation Thailand Expo 2022” at Nong Nooch International Convention and Exhibition Centre (NICE Pattaya) in Chonburi from September 28 to 30.

The exhibition will bring together intelligent manufacturing technologies and solutions for Industry 4.0 for the future of the manufacturing automation industry, the company’s managing director, Kenny Yong, said.

More than 100 leading brands from around the world will showcase their technologies at the event.

Activities include meetings and conferences on “Transforming Manufacturing with Digitalisation”, business matching and negotiations, demonstrations of the automation inspection camera system from the Center of Robotic Excellence, as well as virtual exhibitions.

“This is a good opportunity to promote and encourage Thai entrepreneurs to expand their production capabilities to be the centre of the future manufacturing industry and learn about production technologies from around the world that leading international companies are showcasing at the event,” Kenny said

Petch Chinabutr, deputy secretary-general of Investment and International Affairs at the Eastern Economic Corridor (EEC), said that the development of the EEC has been carefully planned with a clear governance structure and policy formulation.

The EEC’s infrastructure projects have been fully developed to be an essential gateway to Southeast Asia and the Asia-Pacific regions in the next few years.

Kenny Yong, Managing Director of Fireworks Media (Thailand) Co., Ltd

The EEC development plan consists of basic infrastructure development, digital infrastructure development, business and financial centre development, targeted industries development, tourism development and promotion, as well as the development of personnel, education, research and technology.

“The EEC Special Development Zone is an area development project with the main aim to further expand the Eastern Seaboard area, which has been renowned for over three decades. The EEC project focuses on the development of three eastern provinces, namely Rayong, Chonburi and Chachoengsao.” Petch said.

Kanokporn Damrongkul, director of the exhibition department, Thailand Conventions and Exhibition Bureau (Public Organisation), said “TCEB has promoted and supported trade shows and exhibitions of targeted industries in the EEC area, aiming to prepare personnel to get ready for international trade fairs in the future.”

Manufacturing expo brings intelligent tech and solutions from world’s leading brands to Thailand

Explore investment seminars and B2B meetings at Thailand-Korea Economic Cooperation Forum 2022

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Explore investment seminars and B2B meetings at Thailand-Korea Economic Cooperation Forum 2022

Explore investment seminars and B2B meetings at Thailand-Korea Economic Cooperation Forum 2022

THURSDAY, SEPTEMBER 29, 2022

THE NATION

Policymakers, investors and businessmen are invited to attend the Thailand-Korea Economic Cooperation Forum 2022 from October 6-7 at Conrad Bangkok Hotel, Thailand to explore business opportunities and cooperation between the two countries across several sectors.

The two-day event is organized to celebrate the 10th anniversary of the establishment of the Korea-Thailand strategic partnership by Mr YU Jeoung Yeol, President and CEO of Korea Trade-Investment Promotion Agency (KOTRA). 

The Thailand-Korea Economic Cooperation Forum 2022 is the first large-scale offline event to be held after the signing of the Memorandum of Understanding (MoU) for Economic Cooperation in connection with the ASEAN-Republic of Korea Commemorative Summit 2019. The event is expected to serve as a starting point for the full-fledged resumption of business between the two countries, which has been slowed down by the Covid-19 outbreak.

Featuring in the event are the investment forum co-organized by Thailand Board of Investment (BOI), seminars on Smart City and Global Partnering Asia as well as B2B meetings, an on-site inspection of the Eastern Economic Corridor of Innovation (EECI), and promotion booth of World Expo 2030 Busan, Korea. The Thailand-Korea Economic Cooperation Forum 2022 will also be held online in parallel with the physical event in Bangkok.

It is expected that this event will deepen economic cooperation between Korea and Thailand and boost exports of Korean and Thai companies. 

To register, scan the QR code or click.

THE NATION

Siam Piwat partners with ZEPETO to make a foray into the Metaverse with an integrated real-world/virtual fashion phenomenon

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Siam Piwat partners with ZEPETO to make a foray into the Metaverse with an integrated real-world/virtual fashion phenomenon

Siam Piwat partners with ZEPETO to make a foray into the Metaverse with an integrated real-world/virtual fashion phenomenon

THURSDAY, SEPTEMBER 29, 2022

THE NATION

Bangkok (September 28, 2022) – Siam Piwat Co., Ltd. – a leading retail and property developer, the owner of world-renowned retail destinations, including Siam Paragon, Siam Center, and Siam Discovery, and a joint venture partner of ICONSIAM and Siam Premium Outlets Bangkok – has taken its digital ecosystem to the next level by partnering with world-class player ZEPETO, which has over 300 million users, in a mission to advance the Metaverse experience and take the Thai fashion industry on a pioneering foray into the virtual world.

The collaboration took center stage at Siam Paragon Bangkok International Fashion Week 2022 (BIFW 2022) in the form of an innovative lifestyle phenomenon where customers could shop items from the latest runway collections both to wear in the real world and to customize their avatars with in the Metaverse.

Siam Piwat partners with ZEPETO to make a foray into the Metaverse with an integrated real-world/virtual fashion phenomenon

Ms. Chanisa Kaewruen, Head of Corporate Strategy Group of Siam Piwat, says “Delivering experiences beyond expectations to customers is the fundamental strategy that has transformed all shopping centers in Siam Piwat Group into the ultimate destinations for visitors across the globe and earned it robust customer bases both in Thailand and overseas. However, thanks to the ease with which technological advances today can connect people living in different parts of the world to their desired destination, the idea of what constitutes a community has increasingly shifted from an actual space in the real world to a virtual space. As such, Siam Piwat has created new ways to deliver a diverse range of experiences both in the real and virtual worlds to its customers across the globe. Beginning late last year, we have developed a digital ecosystem and launched ONESIAM SuperApp to create a universe of experiences that our customers can access from anywhere and at any time.”

Siam Piwat partners with ZEPETO to make a foray into the Metaverse with an integrated real-world/virtual fashion phenomenon

“With this initiative, we are seeking to continue our long-standing success in supporting and taking the Thai fashion industry to the global stage. By leveraging Siam Center’s position at the frontier of Thai fashion over the past 48 years, we have given young designers an opportunity and a platform to show their power of creativity as well as nurtured and incubated new generations of designers for Thailand’s fashion industry. In today’s world, where the digital world plays a vital role in every realm, Siam Piwat is thus joining forces with ZEPETO, a world-class Metaverse player, to introduce something completely novel and different to the world of fashion – an area of expertise of Siam Piwat – by taking the innovative creations of young Thai fashion designers into the virtual world, thus showcasing their talent and offering them an opportunity to learn about the fashion world of the future.”

Siam Piwat partners with ZEPETO to make a foray into the Metaverse with an integrated real-world/virtual fashion phenomenon

In early 2022, Siam Piwat embarked on the first collaboration with ZEPETO, the world’s premier 3D avatar platform with over 300 million users worldwide, in ONESIAM x ZEPETO Metaverse Songkran Festival 2022 – a campaign that delivered happiness and joy to people across the world through virtual water splashing in celebration of the Thai festival. Seamlessly connecting the real and virtual worlds, the event drew a large number of participants and truly delivered perfect parallel experience. The most recent collaboration was the creation of an innovative lifestyle phenomenon at Siam Paragon Bangkok International Fashion Week 2022 (BIFW 2022), held on September 21-25, 2022, in which featured fashion shows both on an actual runway and on a virtual runway, allowing customers to experience the event and shop in both worlds.

Siam Piwat partners with ZEPETO to make a foray into the Metaverse with an integrated real-world/virtual fashion phenomenon

Mr. Heesuk Ricky Kang, the Head of Business for ZEPETO, adds, “We are pleased to be working with the true pioneers of the global retail industry in Siam Piwat. Together, we have connected virtual fashion with real world fashion, creating a unique experience that has never been done before. I hope this collaboration is the first of many virtual-to-offline experiences Siam Piwat and ZEPETO will build together.”

Siam Piwat partners with ZEPETO to make a foray into the Metaverse with an integrated real-world/virtual fashion phenomenon

Born out of the determination to create a community for younger generations, especially Gen Z, BIFW featured a grand runway showcasing fashion items by leading brands. However, the main attraction was a fashion show that integrated the real world and the virtual world, in which fashion designers were invited to design fashion items for avatars on ZEPETO’s platform. The selected works were not only made available for sale in the Metaverse, but were also tailored and featured on the real-world runway of BIFW 2022 in the show entitled Absolute Siam Presented by Zepeto: Sculpture Studio x Waterandother x Fill in the Bag.

Siam Piwat partners with ZEPETO to make a foray into the Metaverse with an integrated real-world/virtual fashion phenomenon

The designs featured on Absolute Siam’s runway were also transformed into items for avatars on ZEPETO’s platform, allowing users to customize theirs with items from Absolute Siam’s latest collection just as they can in the real world. In addition, ONESIAM and ZEPETO invited KOLs to join the virtual platform and organized fun activities where their real-world followers could have up close and personal interactions with them. These were all part of the fashion phenomenon where real-world runway shows featuring tangible fashion were organized in parallel with virtual fashion shows enjoyed by viewers worldwide.

The collaboration with world-class partner ZEPETO is in line with Siam Piwat’s key strategies, which are:
1) To deliver a universe of infinite experiences, foster engagement with customers across the world everywhere and at all times, and curate activities that fulfill lifestyle needs, create interactions, offer enjoyment, and enable everyone to enjoy a diverse range of experiences in novel ways to maximize satisfaction and maintain the top-of-mind position among Thai and international customers 
2) To expand and penetrate new Gen-Z customer bases, particularly those who are drawn to gamification
3) To generate income from new ecosystems and compete with other platforms on the global level, thus allowing Siam Piwat to go beyond its primary business model 

Thus, this collaborative endeavor marks another crucial step for Siam Piwat in strengthening the digital ecosystem and win the world for Thailand. Learn more information on ONESIAM SuperApp and ZEPETO.
 

THE NATION

Japan’s Muji coming out with quality items to meet Thai consumer needs

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Japan’s Muji coming out with quality items to meet Thai consumer needs

Japan’s Muji coming out with quality items to meet Thai consumer needs

WEDNESDAY, SEPTEMBER 28, 2022

THE NATION

Japanese product distributor Muji Retail (Thailand) is developing a variety of quality products to meet Thai needs, the company’s managing director said on Wednesday.

Akihiro Kamogari said the firm had witnessed Thailand’s potential for business expansion as many of its products have been snapped up by Thais.

He said consumers were most interested in Muji’s line of clothing, followed by household utensils and food.

“The company has seen an increase in revenue this year, thanks to a recovery of purchasing power by both domestic and international consumers,” he noted.

Japan’s Muji coming out with quality items to meet Thai consumer needs

Kamogari explained that more than 60 per cent of Muji’s customers are women. He said its customer groups according to demand ranged from 25-34 years, 35-44 and 45-54, respectively.

“Muji now plans to expand its customer base to a new generation of people, especially first jobbers and the working group aged between 25 and 34, as well as the middle-aged group and students aged 18-24,” he reported.

Furthermore, Muji is going in for more marketing activities to penetrate the men’s market segment, Kamogari said.

Japan’s Muji coming out with quality items to meet Thai consumer needs

Muji opened its 26th branch at The EmQuartier department store in Bangkok on Wednesday.

Kamogari said the company planned to open an additional 8-10 branches by next year.

“We hope The EmQuartier branch will be a model for Muji’s business expansion in Thailand,” he added.

Japan’s Muji coming out with quality items to meet Thai consumer needs

Muji The EmQuartier – considered the company’s third largest branch in Bangkok after those in Samyan Mitrtown and Central Chidlom – is spread across an area of 1,500 square metres and sports more than 3,000 items on sale.

Japan’s Muji coming out with quality items to meet Thai consumer needs

Apart from a variety of apparel, household utensils and furniture, the branch features an expanded Muji Coffee Corner, where various types of food and desserts are served.

It also has something called a “Normal Shop”, where organic products for daily life are available under Muji’s zero-waste concept for a green lifestyle and to reflect brand sustainability in its business operations.

Japan’s Muji coming out with quality items to meet Thai consumer needs

For more information, visit the firm’s Facebook page Muji Thailand or its Instagram account Muji_Thailand.

THE NATION

AIS, China’s ZTE connect to develop smart 5G network

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AIS, China’s ZTE connect to develop smart 5G network

AIS, China’s ZTE connect to develop smart 5G network

WEDNESDAY, SEPTEMBER 28, 2022

Nongluck Ajanapanya

Advanced Info Services (AIS) has teamed up with China’s ZTE Corporation to open Thailand’s first “5G A-Z Centre”, with the goal of developing a smart 5G network and smoothly transforming the country into one with a leading digital economy.

AIS Chief Executive Officer Somchai Lertsutiwong said at a press conference on Tuesday that the 5G innovation hub would provide Thais with “tangible benefits” while giving the country a significant competitive advantage.

He strongly believes 5G is the technology that would power the country.
The centre is located at Tipco Tower 2.

“As a network service provider with the most frequency spectra in Thailand, we give top priority to sustainable innovation,” said Somchai.

The strategic partnership with ZTE will foster innovation and, in particular, improve digital infrastructure to be resilient and provide solutions to the industrial sector, he added.

AIS, China’s ZTE connect to develop smart 5G network

Xu Ziyang, president of ZTE, China’s leading digital technology developer, said the A-Z Centre would usher in a wide range of technological innovations.

Using a 5G network as a foundation for research and development, in particular, will cater to both customer demand and expanding business opportunities, he noted.

AIS, China’s ZTE connect to develop smart 5G network

AIS and ZTE insist the centre is the most comprehensive innovation and solutions hub, with base stations providing “every radio frequency spectrum” for experimentation and trial.

It is a prototype network technology that will transform Thailand’s 5G development, as well as 5G vertical industry applications and smart terminals, they say.

Several trials and demonstrations are currently underway in the first phase, including next generation products for 5G capability growth, radio composers, RIS (reconfigurable intelligent surfaces), 5G use cases such as natural navigation AGV, 5G Machine Vision, 5G XR Explorer, 5G Holographic Diversified, and 5G terminal devices such as CPE and routers.

AIS, China’s ZTE connect to develop smart 5G network

“All of these highlight ZTE’s capabilities as the only end-to-end service provider working with AIS,” Xu added.

Somchai said the centre is a “watershed moment” for Thailand to realise its full potential and propel the country forward, with focus on business and industry.
This collaboaration between AIS and ZTE is “an important step in developing 5G into a smart autonomous network”, he said.

AIS, China’s ZTE connect to develop smart 5G network

It will lay the groundwork for Thailand’s future digital economy, as well as develop innovations and solutions that respond to changing social behaviour, Somchai added.
 

Nongluck Ajanapanya

APEC council draws up plans to rejuvenate region’s economic engine – MSMEs

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APEC council draws up plans to rejuvenate region's economic engine – MSMEs

APEC council draws up plans to rejuvenate region’s economic engine – MSMEs

THURSDAY, SEPTEMBER 29, 2022

Nongluck Ajanapanya

The APEC Business Advisory Council (ABAC) has released its first draft proposal to revitalise and support all-important micro, small, and medium enterprises (MSMEs).

The proposal will be presented to Asia-Pacific Economic Cooperation (APEC) leaders at their November summit in the hopes of providing some guidelines on business operations to promote MSMEs, said ABAC chairman Kriengkrai Thiennukul during a media interview.

Although the overall economy is gradually recovering, MSMEs are still extremely vulnerable and have been negatively impacted by Covid-19, he pointed out.

“MSMEs are the Apec region’s economic engine. They employ more than 50 per cent of all workers and make up over 97 per cent of entrepreneurs. Given that MSMEs are responsible for between 40 and 60 per cent of GDP, future GDP growth is possible if these small business owners are inspired to realise their full potential,” Kriengkrai noted.

The proposal was compiled from three previous ABAC meetings.

APEC business leaders and leading analysts all agreed that promoting and supporting MSMEs is critical to driving the region’s economic recovery and sustainability.

It will meet the needs of APEC policymakers looking for ways to expand new possibilities, he said.

The recommendations made to the APEC meeting to promote MSMEs will centre on four major areas.
 

The first proposal is to create an enabling environment for these enterprises to use digital technologies by leveraging public-private partnerships to accelerate the development of digital skills.

Policymakers should subsequently encourage and improve sustainable practices.
The next step is to create a concrete digital market infrastructure ecosystem for supply chain finance.

Lastly, it must assist underrepresented MSME groups such as women, indigenous peoples and youth in overcoming production barriers and constraints, as well as in balancing economic risk diversification.

Kriengkrai emphasised the importance of promoting MSMEs.

He believes the APEC economy will be able to sustain its growth if MSMEs receive adequate funding or access to global markets, as well as increased business knowledge and skills, support for competitiveness growth, digital entry into international markets, coordination with large corporations, and inclusive promotion.

Nongluck Ajanapanya