Porsche sees 2% uptick in worldwide deliveries as of Q3 2022

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Porsche sees 2% uptick in worldwide deliveries as of Q3 2022
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Porsche sees 2% uptick in worldwide deliveries as of Q3 2022

SATURDAY, OCTOBER 22, 2022

THE NATION

Stuttgart – Demand for sports cars from Zuffenhausen remains strong. In the first three quarters of 2022, Porsche delivered 221,512 vehicles to customers worldwide, marking an increase of 2 per cent over the previous year. The most popular model remains the Porsche Cayenne.

“We have managed to increase our delivery numbers in the first nine months of the year – in spite of various challenges,” said Detlev von Platen, a member of the executive board for sales and marketing at Porsche AG.

“The popularity of Porsche as a modern luxury brand, as well as our products, is equally high on every continent. At the same time, we are still concerned about limitations to the supply of parts, which can impact waiting times for customers.”

Porsche sees 2% uptick in worldwide deliveries as of Q3 2022


Double-digit growth in home region

The biggest gains were in the sales region of Europe, where Porsche delivered 42,204 vehicles between January and September – 11 per cent more than the same period last year. In its home market, Germany, 20,850 customers took delivery of their vehicles – a gain of 9 per cent. In China, which remains its largest single market, Porsche delivered 68,766 vehicles (a drop of 1 per cent). The limitations engendered by months-long lockdowns were largely balanced out by the third quarter. In North America, Porsche recorded 56,357 deliveries. The slight decline of 4 per cent was due to logistical challenges, particularly in the first quarter, and accelerated deliveries in the third quarter continued to reduce the gap to the very strong previous year.

Porsche sees 2% uptick in worldwide deliveries as of Q3 2022

Cayenne remains most popular range

The SUV models remain in especially high demand among customers. With 66,769 deliveries, the Porsche Cayenne remains in the top spot. The second most popular model, the Macan, recorded 59,604 deliveries. The iconic sports car, the 911, continues to rise in popularity, with 30,611 deliveries – a gain of 9 per cent. The Panamera was delivered to 25,452 customers. Worldwide deliveries of the all-electric Taycan hit 25,073, with the 12 per cent decline due to supply chain-related bottlenecks and declining parts availability. Both of these factors particularly affect the electric sports car while the order book for the Taycan remains large. Customers also took delivery of 14,003 examples of the 718 Boxster and 718 Cayman models.

“The fourth-quarter sprint is in full swing and we need to stay on our toes regarding external factors and uncertainties,” said Detlev von Platen. “At the same time, we are tackling the remaining three months of the year full of resolve and vigour.”

THE NATION

Conditions for telecoms merger thwart True-Dtac business plans: expert

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Conditions for telecoms merger thwart True-Dtac business plans: expert

Conditions for telecoms merger thwart True-Dtac business plans: expert

SATURDAY, OCTOBER 22, 2022

Consumer-focused conditions set for the True-Dtac merger may pose a challenge to Thailand’s second and third largest mobile network operators, a Bangkok University (BU) academic said on Saturday.

Assistant Prof Suchart Tripopsakul, from BU’s School of Entrepreneurship and Management, said conditions laid out by the National Broadcasting and Telecommunications Commission (NBTC) on Thursday prioritise consumer benefits and may disrupt True Corp and Dtac’s future strategy.

The regulator on Thursday voted 3:2 in favour of the proposed merger.

The conditions set for the merged entity include service fee controls and ceilings, independent verification of cost structures and service pricing for at least five years after the merger, market space for the operation of mobile virtual network operators (MVNO), and separate rates charged for voice, data and messaging services.

Most importantly, True and Dtac must use their existing brand names – True Move H Universal Communications (TUC) and Dtac TriNet (DTN) – for three years before they can adopt a new brand name and share their respective frequencies.

Suchart said the three-year embargo will affect True and Dtac’s plan to combine their strengths to attract more users, the core purpose of the merger.

“Their planned post-merger business strategy may be delayed for three years, allowing competitors to use new marketing campaigns to poach their existing customers while the new brand is blocked from forming,” he said.

This condition alone will cost True and Dtac the opportunity to become the market leader immediately after the merger, said Suchart.

He added that NBTC’s ban on the merged entity refusing services to MVNO ensures that mobile services for consumers will not by disrupted by the merger. The ban will be a burden for True and Dtac, forcing them to continue providing space for MVNO instead of focusing on streamlining their organisations after the merger to reduce operational costs.

“True and Dtac have a tough challenge ahead of them. They will need to overhaul their business strategy and marketing plans in the next three years to comply with the NBTC’s conditions,” he added.

Pattaya gets a unique tourism destination — Columbia Pictures Aquaverse

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Pattaya gets a unique tourism destination -- Columbia Pictures Aquaverse

Pattaya gets a unique tourism destination — Columbia Pictures Aquaverse

FRIDAY, OCTOBER 21, 2022

Opal Varunsuda

Amazon Falls, a Thailand-based attractions developer, has reimagined the Cartoon Network Amazone waterpark and created the new Columbia Pictures theme and waterpark in collaboration with Sony Pictures Entertainment in Pattaya.

The concept is an “immersive entertainment destination” for all ages, with rides and such as Ghostbusters, Jumanji, Bad Boys, Zombieland, The Emoji Movie, and Hotel Transylvania.

Attractions based on characters from film "Hotel Transylvania"Attractions based on characters from film “Hotel Transylvania”

Mr. Liakat Dhanji, the CEO and chairman of Amazon Falls, stated, “We are proud to present a top tourism destination in Pattaya, with convenient accommodation, retail stores, F&B partners and ease in commuting, as we curate an unrivalled lifestyle experience that will resonate with all of our visitors.”

He added that the venture had made huge investments to attract tourists to the amazing Columbia Pictures world entertainment theme park which is the only one here in Thailand now.

“We collaborated with Sony Pictures, which is the biggest and globally best-known brand in the entertainment industry,” he said.

Mr. Liakat Dhanji, the CEO and chairman of Amazon FallsMr. Liakat Dhanji, the CEO and chairman of Amazon Falls

While Columbia Pictures’ Aquaverse is the next step in Sony Pictures’ larger global strategy to grow and expand location-based entertainment through the use of its film and television brands.

 It is also poised to set new standards for immersive entertainment in Thailand’s Eastern Economic Corridor initiative, which aims to revitalise the Eastern Seaboard area, including Pattaya.

Characters from film "Ghostbusters"Characters from film “Ghostbusters”With themed and immersive zones featuring both water and land-based attractions, live events, interactive props, restaurants, and speciality retail stores, Columbia Pictures’ Aquaverse will be suitable for visitors of all ages.

The Mega Wave Pool will feature music events, movie screenings, and shows on enormous LED screens, making it one of the park’s centrepieces. 

Follow the Full VDO’episode in Business Story Program on October 22, 2022 at 10 a.m.

Mr. Liakat Dhanji, the CEO and chairman of Amazon Falls and Mr. Yuthasak Supasorn,Governor,Tourism Authority of ThailandMr. Liakat Dhanji, the CEO and chairman of Amazon Falls and Mr. Yuthasak Supasorn,Governor,Tourism Authority of Thailand

Opal Varunsuda

U.S. House panel issues subpoena to Trump over Capitol riot

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U.S. House panel issues subpoena to Trump over Capitol riot

U.S. House panel issues subpoena to Trump over Capitol riot

SATURDAY, OCTOBER 22, 2022

Xinhua

The subpoena to Trump requires the production of documents to the committee by Nov. 4 and to appear for deposition testimony beginning on or about Nov. 14.

The U.S. House select committee investigating last year’s Capitol riot issued a subpoena on Friday to former U.S. President Donald Trump.
 

The move came more than a week after the panel voted unanimously to seek testimony and documents relevant to the investigation into the incident on Jan. 6, 2021 and its causes.

The subpoena to Trump requires the production of documents to the committee by Nov. 4 and to appear for deposition testimony beginning on or about Nov. 14.

Committee Chairman Bennie Thompson and Vice Chair Liz Cheney, in a letter, accused Trump of personally orchestrating and overseeing “a multi-part effort to overturn the 2020 presidential election.”

Trump has repeatedly lashed out at the committee and its members. He has also questioned the timing of the panel’s vote to subpoena him.
 

On Jan. 6, 2021, a large crowd of Trump supporters stormed the Capitol in Washington, D.C., and disrupted a joint session of Congress to affirm the 2020 presidential election results.

Approximately 140 police officers were assaulted. Authorities have linked at least five deaths to the mayhem.

It was the worst attack on the U.S. Congress in more than 200 years, which led to Trump’s second impeachment by the House of Representatives shortly before his term officially ended.

Xinhua

U.S. CDC concerned for new Omicron subvariants

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U.S. CDC concerned for new Omicron subvariants

U.S. CDC concerned for new Omicron subvariants

SATURDAY, OCTOBER 22, 2022

Xinhua

CDC data show that BQ.1 and BQ.1.1 seem to be spreading relatively quickly so far, but they are still a small proportion of overall variants.

The U.S. Centers for Disease Control and Prevention (CDC) is closely tracking a wide range of Omicron sublineages, including three drawing recent attention, the agency said on Friday.
 

The three new subvariants are BQ.1, BQ.1.1 and XBB. BQ.1 and BQ.1.1 are offshoots of the BA.5 subvariant, which has been dominant in the United States for months, according to the CDC.

CDC data show that BQ.1 and BQ.1.1 seem to be spreading relatively quickly so far, but they are still a small proportion of overall variants.

The CDC is also keeping a close eye on XBB based on international reports, although it is still very rare in the United States.

Numerous variants of SARS-CoV-2, the virus that causes COVID-19, have been tracked in the United States and globally during the pandemic.

Sometimes new variants emerge and disappear. Other times, they persist and continue to circulate in communities. As the virus spreads, it has new opportunities to change in ways that can make emerging variants more difficult to stop because the effectiveness of vaccinations or treatments may be reduced, according to the CDC.

Xinhua

Eurasia cannot decide its own world order

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Eurasia cannot decide its own world order

Eurasia cannot decide its own world order

FRIDAY, OCTOBER 21, 2022

The Ukrainian war reminds me of the American geopolitical classic, “America’s Strategy in World Politics: The United States and the Balance of Power” (1942) by Yale Professor Nicholas Spykman (1893–1943). In that, he wrote, “whoever rules the Rimland commands Eurasia, and whoever rules Eurasia controls the destinies of the world”.

The Rimland is the coastal land covering Western Europe, Arabian-Middle East and Asian monsoon land that surrounds the Eurasian land mass. Anyone who wants to understand American foreign policy with respect to Europe has to read former US National Security adviser Zbigniew Brzezinski’s 1997 Foreign Affairs article on “A Geostrategy for Eurasia”.

Brzezinski understood that “Eurasia accounts for 75 per cent of the world’s population, 60 per cent of its GNP, and 75 per cent of its energy resources. Collectively, Eurasia’s potential power overshadows even America’s.”

Even though America is protected on the East by the Atlantic Ocean and on the West by the Pacific Ocean, the mainstream realist American view followed the Spykman line that control of the Rimland would command Eurasia.

This explains why the American leadership of the North Atlantic Treaty Organisation (Nato) is so focused on Ukraine. The Russian decision to invade Ukraine was the US cold warrior’s dream outcome. Prior to that, Western Europe was drifting away from American influence as it depended more and more on cheap Russian energy.

The Ukraine war and severance of the Nord Stream gas pipelines meant that Europe once again depended solely on the American defence umbrella and therefore subject to US strategic direction.

Spending time in Europe last week made me realise how emotions are clouding logic in the current debate over the Ukraine War.

Eurasia cannot decide its own world order

First, there is no European exit strategy on how to achieve peace negotiations over the Ukraine war, which is being flattened by battles, assaults and retreats that destroy lives and infrastructure every day it lasts. After Switzerland gave up its neutral stance, there is no neutral European agent to bring the warring parties to the negotiating table. The odd middle-man is Turkey, a member of Nato, but it has its own differences with Europe.

Second, the economic sanctions against Russia have backfired, with European households paying higher energy prices and therefore facing higher inflation, while Russia has increased exports with much less economic damage than expected. The IMF’s latest forecasts think that the Russian economy will only shrink 3.4 per cent this year, compared with a 35 per cent drop for Ukraine.

Third, the more Nato gives Ukraine in terms of advanced military equipment to hit Russia, the greater the brutal reactions and the higher risks of nuclear outcomes. Both sides think that it would be suicidal to use nuclear weapons, admit that accidents are possible, but claim that the other side would not dare to use them. This irresponsible drift to escalation is like the physicist Richard Feynman’s report on the space shuttle Challenger fiasco, where he found that the engineers’ estimates of the chance of failure were about one in 100, whereas Nasa officials claimed the chance of failure was about one in 100,000.

EurasiaEurasia

Fourth, as costs begin to mount in terms of a looming recession and higher inflation, more thoughtful European leaders are waking up to the uncomfortable dilemma of a protracted war in Europe with no end in sight, and a helpless situation in which final decision-making on their own security is already passed to Washington DC. In effect, in defending the sovereignty of a non-Nato member (Ukraine), their own sovereignty to decide on whether to end the war lies outside of European members.

Fifth, the biggest economic loser is Germany as the largest manufacturing and surplus economy in Europe, since the war has cut off her cheap sources of energy as well as loss of markets to Russia and potentially to China from sanctions. Germany’s decision to re-arm at the same time wakens fear in other Europeans who remember how the whole project of the European Union was to bind Germany into peaceful co-existence.

The Ukraine war, therefore, is a war fought inside Eurasia that will decide whether Eurasia itself can ever decide its own security. The whole purpose of the European Union project was to bind Europe through economic interests to avoid the catastrophes of two world wars. Eurasia as a continental mass has enough food and energy for all, except that the resources are not divided equally. Geographical space becomes complicated by emotional space, as neighbours fight over religion, race or tribal reasons that often defy logic. Continental Europeans remember how Britain as an offshore island kept playing divide and rule so that no European power could challenge the British empire. History seems to be rhyming when America is playing the same game.

Eurasia cannot decide its own world order

All these raise the question of whether any nation-state can be totally sovereign in an interrelated world. All members of the International Monetary Fund (IMF) know that when they get into trouble financially, they have to cede sovereign decisions to the IMF in order to get financial aid. Small countries that have powerful neighbours know that they cannot act against the neighbour’s interests without costs. Realistically, no country is totally independent in sovereignty in an overcrowded and interdependent world.

Ukraine’s fate today is to fight to the last man. When that happens, there will be no principle to defend. If we take that logic to nuclear war, what is the moral principle to defend one’s sovereignty when everything disappears in all-out nuclear annihilation?

As long as emotions run high, the war will continue. Cold logic for peace can only come when everyone pays the ultimate price for the foolishness of senseless slaughter.

Andrew Sheng

Asia News Network

Vietnamese cuisine voted among best in the world

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Vietnamese cuisine voted among best in the world

Vietnamese cuisine voted among best in the world

FRIDAY, OCTOBER 21, 2022

Vietnam has been named among the top 10 countries in the world with the best food, according to readers of the Canadian magazine The Travel.

Having distinctive cuisine with flavours that are particularly popular internationally, Vietnam has been ranked fifth on the list.

“Seafood is a popular food in Vietnam as the country contains so many fishing villages, but Vietnam is not all about seafood,” the magazine wrote.

“In fact, the wide variety of food in the country will leave visitors perplexed.”

It recommends tourists try pho the country’s iconic noodle soup with either beef or chicken.

Pho is made and served across the country though it originated in Hanoi and was taken to the south, where other distinct touches were added.

The magazine also suggests visitors should sample snacks such as spring rolls and banh mi, a type of Vietnamese baguette.

“There are different types of rice dishes to also try out and while some consist of chicken, others consist of beef or pork,” it added.

Thailand and the Philippines are the other two Southeast Asian nations on the list of the best food as chosen by readers of The Travel.

The US, meanwhile, tops the list, which also mentions Germany, Italy, Greece, Mexico, Spain and India.

Vietnamese cuisine has been praised by many international chefs and prestigious food magazines in recent years.

The oldest and largest French TV channel – TF1 – broadcast a report on the success of world cuisine in France over the past 10 years, in which Vietnamese cuisine was honoured as one of the three most loved by the French. The report was screened during the channel’s prime time on February 7.

According to TF1, there are about 3,000 products from 24 different countries being sold in retail distribution systems throughout France. Among them, Vietnamese traditional fried spring rolls ranked third in the list of foreign cuisines most loved by French consumers. The US peanut butter, popcorn and macaroni came in second while Japanese sushi was the most popular.

Vietnam was also honoured as Asia’s Leading Culinary Destination at the prestigious World Travel Awards (WTA) 2020. That was the second year in a row that Vietnam ranks first in Asia in the category.

Viet Nam News

Asia News Network

Thai manufacturing industry suffering badly from rising costs, export slump: TTB Analytics

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Thai manufacturing industry suffering badly from rising costs, export slump: TTB Analytics

Thai manufacturing industry suffering badly from rising costs, export slump: TTB Analytics

SATURDAY, OCTOBER 22, 2022

Thailand’s manufacturing sector has shown an underwhelming yearly growth of 1.3 per cent over the past five years, the most recent TTB Analytics report shows.

To improve conditions, the analysts have advised the government to promote investments in the EEC areas to boost employment and revenue in the sector.

The economic analytical centre under TMB Thanachart Bank said the manufacturing sector is responsible for about 27 per cent of Thailand’s gross domestic product (GDP) and employs about 9 million people.

The centre said since the emergence of Covid-19 in late 2019, the demand for Thai products has dropped drastically, affecting growth in the sector. The sale of the country’s manufactured products has dropped 16.2 per cent from 6 trillion baht in 2019 to 5 trillion baht in 2020.

TTB Analytics cited the data from the Office of Industrial Economics which said that from 2017 to 2021, the manufacturing sector’s revenue has expanded 1.3 per cent year on year on average. Domestic sales expanded 1.7 per cent, while exports expanded 0.6 per cent year on year on average.

The centre said in 2020, the sale of manufactured products had dropped in almost the entire industrial sector due to Covid-19 lockdowns. Food and consumer products only saw slightly increasing consumption in the domestic market, while only a handful of products enjoyed significantly increasing demands during the outbreak, such as medical gloves. The manufacturing output in the computer and electronics industry also saw steady growth during the pandemic as they were not affected by employees being forced to work from home.

Thai manufacturing industry suffering badly from rising costs, export slump: TTB Analytics

TTB Analytics said the manufacturing sector bounced back in 2021 as more Covid-19 restrictions were eased, allowing people to resume economic activities. Sales of manufactured products in 2021 expanded 18.4 per cent year on year, though most industries have boosted their output, two have yet to fully recover from the impact of the pandemic, namely beverage and construction materials. The beverage industry relies on exports and has not recovered because many countries are keeping their borders closed, while the construction industry is losing out due to a drop in people’s purchasing power.

TTB Analytics said in 2022, the sales of manufactured products rose 22.6 per cent year on year, though this is mainly due to inflated prices as the sales volume is nearly at the same level as before Covid-19. The centre warned that though sales show an improving trend, manufacturers are suffering from rising costs and a significant drop in profits.

“Manufacturers have been raising their prices since the start of this year to cope with increasing costs. This strategy will stop working when the prices soar beyond people’s purchasing power and will send the economy into recession next year. This trend should be monitored closely,” it said.

Thai manufacturing industry suffering badly from rising costs, export slump: TTB Analytics

TTB Analytics added that in the past five years, growth in the manufacturing sector has been limited to large industries such as automotive components, energy, chemicals, food and electronics, all of which had been severely affected by decreasing demand during the pandemic.

“To ensure continued growth and comprehensive revenue distribution across the entire manufacturing sector, the government must promote investment in new S-curve industries, especially in the Eastern Economic Corridor [EEC] areas, which will also boost employment in local communities,” said the centre.

TTB Analytics said industries that need immediate investment promotion include food processing, biotechnology, digital, automation system and robotics, aircraft, and national security technology.

“As the Covid-19 outbreak is nearly at an end, the government must focus on investment promotion aspects to ensure a steady growth of the country’s economy, including attracting foreign direct investment and building of infrastructure and ecosystem for target industries, which will surely help boost GDP expansion to 5 per cent annually in the near future,” said the centre.

TTB Analytics, however, forecast economic growth in 2022 at 3.2 per cent and 3.7 per cent in 2023, with a major contribution from the tourism industry.

Explainer: True-Dtac merger deal born after 9 months

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Explainer: True-Dtac merger deal born after 9 months

Explainer: True-Dtac merger deal born after 9 months

SATURDAY, OCTOBER 22, 2022

The National Broadcasting and Telecommunications Commission (NBTC) voted 3:2 to “conditionally acknowledge” a planned merger between True Corporation and Total Access Communications (Dtac) after nine months of deliberation.

The decision was made on Thursday night at a meeting that lasted more than 11 hours.


Two NBTC board members voted to acknowledge the merger plan and two voted against, leaving board chairman Sorana Boonbaichaipreug to cast the deciding vote.

Consumer rights organisations oppose the merger, saying it will leave Thailand with just two telecom companies, undermining competition and hurting consumers.

Summary of the merger

The board will now send a summary of the vote to the Office of The National Broadcasting and Telecommunications Commission.

The merger process

A new company must be founded.

But before that happens, the shareholders of both companies must approve the merger plan. Once approved, an application can be submitted to the Commerce Ministry. The newly merged company must then inform the Stock Exchange of Thailand, a process expected to be completed by December.

According to telecom industry rumours, the merged company’s name will be “TRUE-D”.

Two into one

The new company to be formed by the True-Dtac merger in December will operate the NBTC frequency licences granted to True Move H Universal Communication (TUC) and Dtac TriNet (DTN).

No sharing for 3 years

Among conditions placed on the merger by the NBTC board is that True and Dtac must retain their brands – with no frequency sharing – for three years.

The merged company will have total assets of around 800 billion baht.

True will bring assets of 615.637 billion baht while Dtac has 159.759 billion baht.

The merger will leave Thailand with just two mobile telecom operators, the other being Advanced Info Service (AIS).
AIS has assets of 349.517 billion baht.

The merged firm would also overtake AIS as Thailand’s largest operator since True and Dtac currently have 34 and 21 per cent of subscribers nationwide, respectively, compared with 44 per cent for AIS. The newly merged company will control 54 per cent of the market.

How Thailand fosters digital connectivity at home and for APEC 2022

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How Thailand fosters digital connectivity at home and for APEC 2022

How Thailand fosters digital connectivity at home and for APEC 2022

SATURDAY, OCTOBER 22, 2022

Robustly preparing for this task, Thailand’s government has been actively fostering digital connectivity for years, making significant strides.

Creating a foundation for Thailand’s digital connectivity is the Village Broadband Internet, or Net Pracharat, project. Introduced to bolster the National Broadband Network by extending high-speed internet to every village in the country, Net Pracharat has effectively provided locals of even remote areas free access to the same internet speeds found in urban centers.

How Thailand fosters digital connectivity at home and for APEC 2022

The purpose of the project is to allow all people in Thailand to reap the benefits of online services and information, so that they may apply the offerings of the internet to improving their daily lives.

How Thailand fosters digital connectivity at home and for APEC 2022

Installation of fiber cabling for the project completed in December 2017, bringing access to 24,700 target rural villages and free public Wi-Fi hotspots to millions more.

With strong fundamentals in place, the Thai government has been able to achieve considerable success in supporting electronic payment, or e-Payment, in the country.

How Thailand fosters digital connectivity at home and for APEC 2022

Official campaigns have led to widespread adoption and usage of the Prompt Pay e-Payment application, which allows for further programs such as Chim-Shop-Chai, Rao Chana, and the Co-Payment scheme implemented to significant effect.

More recent government wallet applications have also been well-received by Thai citizens and has opened an array of new opportunities for financial activity and commerce.

How Thailand fosters digital connectivity at home and for APEC 2022

These domestic developments have empowered Thailand as host of APEC to promote digital connectivity across the region.

Acknowledging that the COVID-19 pandemic has accelerated the digital transformation, Thailand seeks this year to facilitate the cooperation’s adaptation by strengthening customs cooperation, market access. and digitalized border processes.

How Thailand fosters digital connectivity at home and for APEC 2022

At relevant discussions, such as the 64th APEC Telecommunications and Information Working Group Meeting, Thailand joined in endorsing developments for information and communication technology infrastructure and complementary policies and regulations, speaking with experience from its own achievements.

How Thailand fosters digital connectivity at home and for APEC 2022