Covestro launches “Hands for a Brighter World” campaign to turn waste to value under fully circular concept

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https://www.nationthailand.com/business/40017226


June 29, 2022 – Covestro, a world leader in polymer materials, organized “Hands for a Brighter World” campaign to drive sustainability by upcycling plastic wastes under the fully circular concept.

Covestro launches “Hands for a Brighter World” campaign to turn waste to value under fully circular concept

The project aims at promoting efficient management of plastic wastes which can be recycled and bring them back to the loop and generate value to them again according to the circular economy principle. The activity includes supporting plastic waste sorting stations for further recycling to Bangkok Metropolitan Authority (BMA) by the Department of Environment in collaboration with Less Plastic Thailand Network. The collected plastic waste, PET bottles, will be recycled into high-visibility working suits to enhance the safety of road sweepers in Bangkok. The handover of the sorting stations was held on June 17 at the Bangkok City Hall 2. In addition, five more stations were installed at the Covestro manufacturing site in Map Ta Phut Industrial Estate, Rayong province where employees are encouraged to donate recyclable plastic wastes so they can be recycled and create value back to the community and society.

Dr Timo Slawinski, Managing Director of Covestro (Thailand) said, “Covestro’s mission is to promote innovation and growth with profitable products and technologies that benefit society while reducing the impact on the environment. We would like to pass over value and sustainability to our future generation, therefore, we make every effort to align our vision on the direction of circular economy. By creating new ideas and innovations that benefits to reserving and making most use of the natural resources that is being scarce, bringing them back to the loop, reducing impact from plastic wastes and promoting reduction of greenhouse gas emission throughout the value chain.

Covestro launches “Hands for a Brighter World” campaign to turn waste to value under fully circular concept

“In March, Covestro announced our 2035 Climate Neutrality Target. Therefore, our campaign, “Hands for a Brighter World” shares a common vision and goal with the “Bangkok Magic Hands” project. This initiative comprises two of Covestro’s core values together: commitment to safety and sustainability, enabling us to turn waste into value. The results are road sweeper personal safety devices – high-visibility suits made from recycled plastic bottles – for the BMA and the Map Ta Phut Municipality.”

Ms Khawissara Wattanapisit, Head of Communication ASEAN Covestro (Thailand), said, “The Hands for a Brighter World project is one of the latest social activities to reiterate Covestro vision for sustainable business operations under the circular economy concept to protect our limited resources. We are committed to minimizing our carbon footprint seriously to reduce the impact on climate change which, in turn, creates opportunities for future generations in the long term. This project is an outstanding example of collaboration among multiple stakeholders who are aware of the problems and working together to reduce the plastic waste problem. This collaboration not only promotes sustainability at the community level but also contributes to national and global levels. To achieve our common targets, one hand or party cannot succeed on its own, but collaboration is needed – this is where the project name stems from.”

Covestro launches “Hands for a Brighter World” campaign to turn waste to value under fully circular concept

Mr Wirat Manassanitwong, Director of the Department of Environment, BMA, revealed, “The BMA top environmental policy is to achieve Net Zero greenhouse emissions and this is well supported by the private sector, hence the creation of this network. The BMA currently encourages the private sector to collaborate on 4 types of activities: renewable energy, green zone expansion by tree planting, waste reduction & management, and traffic management. Recently we organized Earth Hour in March as 1 of 190 countries around the world to switch to electricity at night to raise awareness of energy conservation. We are also campaigning waste pollution prevention with 17 districts on the Chao Phraya River, aiming to reduce littering in the river, and have so far held activities in 3 districts.

“At present, a number of corporations have volunteered to plant trees in BMA public areas or requested the BMA to arrange for areas in support of the BMA Governor’s 1 Million Tree Planting Policy. The “Bangkok Magic Hands” project is a collaboration of several parties with the BMA acting as the middleman in arranging for locations where donors can contribute. We are pleased that Covestro offer plastic waste sorting stations that are attractive and interesting to the public which helps promote actual waste sorting from all. We plan to use some of the collected PET bottles, upcycle them into PPE, and if they are can achieve existing safety standards and comfort requirements, then we will offer them to our road sweepers.”

Covestro is among the leading global polymers manufacturers with a vision to create a better world by driving a circular economy and optimizing the utilization of resources. We produce plastics sustainably, drawing on the benefits of alternative raw materials and renewable energies. To realize our vision we are committed to reducing plastic wastes and airborne emissions, as well as improving waste management. Moreover, we strive to innovate new technologies to recycle discarded products and materials and turn them into raw materials once again.

Covestro in Thailand is committed to raising environmental protection awareness among the youth through the regular organization of educational activities and the publication of educational materials. This includes the booklet series titled “Bright Minds for a Brighter World” for primary schools in Thailand to educate the importance of waste sorting under the circular economy concept. We also organize workshops for teachers on environmental management both in Bangkok and Rayong.
 

Published : June 30, 2022

By : THE NATION

BTS leading to unlimited business opportunities with 3M strategies

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https://www.nationthailand.com/business/40017208


BTS Group strives to improve the quality of life and well-being of people through the integration of core businesses. The Group has developed and created an innovative ‘3M strategy’ comprising MOVE, MIX, and MATCH, leading to unlimited business growth.

BTS leading to unlimited business opportunities with 3M strategies

https://drive.google.com/file/d/1ooAD-nvv1GsyTyg_rvgf5Cg5fXJ6Cl8o/preview

Published : June 30, 2022

By : THE NATION

Thai exports grow substantially, but imports still surging ahead

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https://www.nationthailand.com/business/40017254


Thailand’s export sector saw a growth of over 10 per cent in May and almost 13 per cent in the first five months of this year, Commerce Minister Jurin Laksanawisit said on Friday.

Thai exports grow substantially, but imports still surging ahead

This healthy growth is expected to continue for the remainder of the year, and the Commerce Ministry’s target of 4 to 5 per cent expansion for 2022 is likely to be achieved, he said.

Jurin, who doubles as deputy prime minister, said exports would continue to serve as the economy’s main driving force this year, with tourism coming in a close second.

In May, Thailand’s exports were worth US$25.5 billion (905.2 billion baht), marking a 10.5 per cent increase year on year. Imports during the month totalled $27.3 billion (969.1 billion baht), marking a 24.2 per cent hike. This resulted in a trade deficit of $1.8 billion (63.9 billion baht) in May.

The first five months of the year saw exports rise 12.9 per cent, at a total value of $122.6 billion (4.3 trillion baht), while imports expanded 20.2 per cent, totalling $127.3 billion (4.5 trillion baht). The trade deficit in the first five months of this year totalled $4.7 billion (166.8 billion baht).

Thai exports grow substantially, but imports still surging ahead

The commerce minister attributed the rise in Thai exports to five key factors: successful policy in exporting food and beverages, the Thaifex-Anuca Asia 2022 food expo, implementation of free trade agreements, global economic recovery, and a weaker baht that makes Thai products more competitive.

Published : July 01, 2022

Survival not easy if instant noodles price stays same: manufacturers

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https://www.nationthailand.com/business/40017251


Consumer goods giant Saha Group is once again calling on the government to allow manufacturers to increase the price of instant noodles as companies are now making losses.

Survival not easy if instant noodles price stays same: manufacturers

Thamarat Chokwatana, director and executive vice president of ICC International Plc, said this at the Saha Group Fair on Thursday.

He said the company has asked the government for permission to increase the price of instant noodles from 6 baht per packet. Choosing not to elaborate on what the new price would be, he only said that the cost of production has risen by more than 10 per cent as the price of each ingredient has risen several fold.

Thamarat said the price of instant noodles, like detergent, is controlled so it is difficult to adjust the price tag when production cost rises. The price of other products is controlled by market mechanisms, he said.

He added that instant-noodle manufacturers are trying to maintain the price for as long as possible, but will not be able to do this for too long.

He added that a 1-baht increase in price may not be enough if the cost of ingredients continues rising.

Thamarat added that he understands why the government wants to keep the price unchanged, but if prices are not adjusted then companies will start making huge losses.

Saha Group had called on the Commerce Ministry in June for permission to increase prices, but the request was rejected.

Survival not easy if instant noodles price stays same: manufacturers

The four-day Saha Group Fair, which wraps up on Sunday, is being held at the Bangkok International Trade and Exhibition Centre (Bitec).

Manufacturers sell products at original prices in a bid to help ease consumers’ burden of rising living costs. Thammarat said this year’s fair is bigger than ever, especially since this is the first on-site event since the arrival of Covid-19 in early 2020.

Survival not easy if instant noodles price stays same: manufacturers

Published : July 01, 2022

By : THE NATION

Risk-off market, dropping gold may weaken baht today

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https://www.nationthailand.com/business/40017247


The baht opened at 35.33 to the US dollar on Friday, strengthening from Thursday’s closing of 35.37, and is expected to move between 35.25 and 35.40 during the day.

Risk-off market, dropping gold may weaken baht today

Krungthai Bank market strategist Poon Panichpibool reckons the baht will strengthen as the dollar weakens, but said the baht will possibly fluctuate and weaken if foreign investments flow out and the market remains in a risk-off state.

The baht may also weaken if the gold price drops to its main support level of US$1,800 per ounce, encouraging some investors to buy at the dip.

He also warned investors to beware of the baht’s volatility before and after eurozone inflation figures have been revealed at 4pm Thailand time.

If inflation in Europe is high, the market will expect the European Central Bank to increase the interest rate, which will strengthen the euro and baht, and weaken the dollar.

Poon advises investors to use hedging tools like options to manage their risks in the highly volatile currency market.

Published : July 01, 2022

By : THE NATION

Tourism council targets 10 million foreign arrivals in second half of year

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https://www.nationthailand.com/business/40017236


The Thailand Tourism Council (TCT) has vowed to attract at least 10 million foreign tourists to the country in the second half of this year, and is pleading with all government agencies to provide more subsidised, soft loans, and lenient measures to all entrepreneurs, particularly local small and medium-sized enterprises.

Tourism council targets 10 million foreign arrivals in second half of year

Speaking at the press conference for the Thailand Tourism Confidence Index 2022, TCT president Chamnan Srisawat said that the council has already set a target of 12-16 million inbound tourists for this year and two million tourists have already arrived in the first half of the year. This figure target represents 30-40 per cent of all international tourists who visited Thailand prior to the Covid-19 pandemic, and it is critical for all Thai tourism businesses to recover and survive.

According to the report, the tourism confidence index increased in the first six months of 2022 due to the positive sentiment about the sector’s recovery as a result of government measures, such as opening the country’s borders, relaxing some regulations, and lifting the Thailand Pass requirement to make it easier for tourists to visit the kingdom.

In particular, the confidence index of Thailand’s tourism industry rose to 53 points in the second quarter. In Q3, it is expected to reach 62 points. According to the researchers, the number is gradually increasing because many entrepreneurs are concerned about rising energy prices and high inflation, which raises their costs.

Overall, the report predicted that tourism in Thailand will generate more than 671 billion baht this year.

Chanchai insisted that the private sector of all sizes needed some support from various government agencies in order to maintain the country’s competitiveness and remain the favourite destination of tourists. For example, companies require soft loan measures from the Ministry of Finance to provide liquidity for their operations, land and building tax exemptions from the Revenue Department, digital transformation assistance from the Digital Economy Ministry, and labour training sessions from the Labour Ministry.

“We appreciate everything the government has done to help the tourism industry and businesses begin to recover,” but winning this tourism war game while maintaining supply-side competitiveness will require special synergy. There is still work to be done, and those tasks cannot be completed by a single party,” Charnchai explained.

He also forecast that as countries around the world gradually open their borders, competition in the tourism industry would be fierce. Each country will make an effort to lure tourists because they see tourism as a quick-win strategy for generating income and reviving their economies.

According to Vichit Prakobgosol, TCT’s vice president of marketing, tourism is one of the simplest ways to quickly distribute income to people. The most pressing issue right now is determining how to increase the number of inbound visitors.

He proposed that the government meet with travel agencies and airline operators to discuss joint promotions, such as hard sales and chartered flights, as well as any other measures that would make it easier for tourists to visit the country and thus increase the likelihood of more tourists coming to Thailand.
 

Marisa Sukosol Nunbhakdi, president of the Thai Hotels Association, stated that the country’s hotels and accommodation facilities have yet to fully recover. As a result, they continue to require government assistance, particularly with regard to the exemption of land and building taxes.

Meanwhile, she supported the government’s efforts to promote Thailand’s soft power, which includes food, fashion, film, fighting (Thai traditional boxing), and festivals. All of these forms of soft power will add value to Thailand’s rich culture and entice foreigners to visit the country.

Somchai Jearanaisilp, TCT vice president and president of the Wellness Tourism Committee, added that medical and wellness tourism could be another factor in helping Thailand’s tourism industry grow. The government must prioritise Thailand Medical Hub, particularly the training of skilled personnel with more specific expertise, continue to promote various researches so that Thailand can create Thai-style medical products that are distinctive and different, support investment through the Board of Investment (BOI), and issue a policy promoting a 10-year long-stay visa for foreigners.

Charnchai concluded that the country is currently engaged in a “tourism war game”. While Thailand’s government policies and measures are ready to welcome tourists, many private operators and related businesses, particularly owners of small hotels or local car rentals, remain reluctant to provide their services. As a result, greater collaboration between the government sector, the council, and related businesses is required.

Published : July 01, 2022

SME Expo next month offers investment opportunities

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https://www.nationthailand.com/pr-news/business/40017191


The “Smart SME EXPO 2022” for business franchises will be held from July 7 to 10 at Hall 7-8 of Impact, Muang Thong Thani in Nonthaburi province.

SME Expo next month offers investment opportunities

The expo is a centre for the best business franchises of the year 2022, the organisers said.

Booths will be organised over 10,000 square metres, together with a variety of product and merchandise booths for online shopping.

Visitors can find many business franchises for investment with budget ranging from thousands to millions of baht.

The event offers an opportunity to meet business partners and strengthen business expansion. 

Visitors can also participate in negotiations with both domestic and international businesses, the organisers said.

There will also be a forum providing knowledge on new business trends and occupational training. Contact 094-915-4624 or 086-314-1482 for more information.

Published : June 29, 2022

By : THE NATION

Get free 200-baht in PRINCIPAL DPLUS-A fund when opening an account via Principal TH app

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https://www.nationthailand.com/pr-news/business/40017175


(PR News) Principal is offering free 200-baht in PRINCIPAL DPLUS-A fund for the first 2,000 new registrants who open their account via Principal TH application. The campaign runs until August 31, while supply lasts.

Get free 200-baht in PRINCIPAL DPLUS-A fund when opening an account via Principal TH app

Principal TH is an application that will make investment easier.

  • Easy registration; users can confirm their identity via NDID system or at Counter Service in 7-11 stores
  • Fund listing feature for easy browsing and monitoring, categorized by type of funds
  • Content Feed that updates the latest investment news and trends
  • Principal Asset Allocation Plan helps you manage your portfolio with diversified plans

Download the Principal TH at https://principalth.onelink.me/ImVI/xdfgrwco

Terms and conditions can be viewed at https://bit.ly/3xqEf2a

Investors should study the conditions, returns, and risks of the funds before investing. Past turnover does not guarantee future turnover.

Published : June 29, 2022

By : THE NATION

Ajinomoto strives for sustainable plastic and waste management

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https://www.nationthailand.com/business/40017163


Recently, Mr Sornchai Kusanjai (2nd row, 3rd from left), Director and representative of Ajinomoto Co., (Thailand) Ltd., as a member of Thailand Business Council for Sustainable Development (TBCSD) and PPP Plastics Institute, announced the company’s commitment to support and drive for sustainable plastic and waste management to moving towards a low-carbon society of Thailand in the press conference joined by all members.

Ajinomoto strives for sustainable plastic and waste management

The press conference took place at Centra by Centara Hotel, Government Complex and Convention Center, Chaeng Watthana.

Mr Sornchai Kusanjai stated that “The Ajinomoto Group globally is committed to achieving a 50% reduction of environmental impact by 2030. In Thailand, we strongly intend to uphold global sustainability by setting a target of 100% no plastic waste generated by our products, which we will strive to achieve with our sustainable management.”

Ajinomoto strives for sustainable plastic and waste management

PPP Plastics or cooperation projects for government, business, and civil sectors for sustainable plastic and waste management is the project under Thailand Business Council for Sustainable Development (TBCSD) in collaboration with Plastics Industry Club, The Federation of Thai Industries and corporate partners from all sectors who are leaders in policy-making and activities related to plastic management in Thailand. The objective is to join forces in driving the project in accordance with plastic waste management roadmap in order to achieve the goal of reducing the amount of plastic waste in Thailand’s seas by at least 50% by 2027 on the basis of sustainable waste management following the principles of Circular Economy.
 

The Ajinomoto Group globally aims to become a “Solution-providing Group of Companies for Food and Health Issues” by concentrating our management resources, working to reduce environmental impacts and regenerate the environment sustainably driven through business activities in every establishment. This reflects our core of business operation, which we commonly call “the Ajinomoto Group Creating Shared Value: ASV)”.

Published : June 29, 2022

By : THE NATION

PTT Group, Foxconn move forward with the EV ecosystem, underlining Thailand as the EV hub of ASEAN

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https://www.nationthailand.com/business/40017162


PTT Group board of directors and Foxconn Technology Group executives recently met the Prime Minister to discuss the future of EV industry and investment opportunities.

PTT Group, Foxconn move forward with the EV ecosystem, underlining Thailand as the EV hub of ASEAN

BANGKOK, June 28, 2022, PTT Group board of directors, including Prof Dr Thosaporn Sirisumphand, Chairman of PTT Public Company Limited (PTT) and ARUN PLUS Co., Ltd. (ARUN PLUS), Mr Danucha Pichayanan, Secretary-General, Office of the National Economic and Social Development Council, M.L. Chayotid Kridakon, Thai Trade Representative and Advisor to Prime Minister, and Mr Auttapol Rerkpiboon, President and Chief Executive Officer of PTT, together with the top executives from Foxconn Technology Group, Mr Young Liu, Chairman and CEO of Foxconn, paid a courtesy visit to H.E. General Prayut Chan-o-cha, Prime Minister of Thailand, and Mr Supattanapong Punmeechaow, the Deputy Prime Minister and Minister of Energy of Thailand. 

The objectives of the visit were to express the strong determination and solid collaboration of Foxconn Group and PTT Group to strengthen Thailand’s EV industry and investment opportunities. Also, some key discussion topics including relevant operations, to monitor the progress of cooperation between PTT Group and Foxconn joint venture, and to create comprehensive EV ecosystem in Thailand were highlighted. 

PTT CEO, Mr Rerkpiboon, revealed that the highlights of this visit had covered the construction of the EV production plant, the newly established HORIZON PLUS Co., Ltd. (HORIZON PLUS), jointly owned by ARUN PLUS, and Foxconn, to serve as an EV OEM for car companies, both in Thailand and in ASEAN region. With the beginning of construction work within the third quarter of 2022, the factory is scheduled to be completed by early 2024. 

PTT Group, Foxconn move forward with the EV ecosystem, underlining Thailand as the EV hub of ASEAN

In this occasion, both parties have also exchanged views on further business opportunities and investment in Thailand’s other targeted industries in which Foxconn have expertise. In particular, the investments in the smart electronics, semiconductors, as well as the manufacturing of various components which are the upstream industry of electric vehicle production. Having responded to the government policy and its direction to promote electric vehicles in Thailand, this joint effort also drives the country to further achieve a low carbon society target. In addition, this partnership will help prepare and develop the skilled labors for the future-oriented industries especially in electronic component while providing advanced technology solutions to cover all levels, which will also support the direction of the industry towards sustainable innovation of the future. 

Published : June 29, 2022

By : THE NATION