e-UPDATE, 10 October 2016

GTCC e-UPDATE: 10 October 2016

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Upcoming GTCC Events Register now for our upcoming events: 20.10.2016 GTCC Young Professionals Network Evening x HotelQuickly 21.10.2016 Site Visit to Umicore Autocat & ZF Lemforder & Eastern Seaboard Stammtisch 22.10.2016 Oktoberfest Pattaya 2016 28.10.2016 GTCC Oktoberfest 2016 Thailand Economic Factsheet

Sustainability Code Training: 21-23 November 2016

**Limited to 15 participants only** This 3-day workshop will qualify participants to elaborate a sustainability report with the prevailing most pragmatic and time-efficient reporting framework: The German Sustainability Code. With effect from 1 January 2016, following the new EU directive on non-financial reporting (2014/95,EU), about 6000 European companies will have to report annually about their performance in regards to the environment, society, employees, human rights, anti-corruption and diversity. The mandatory reporting directive will have strong influences on non-EU companies in the supply chain of the affected EU companies. More Update Magazine

Economy "Thailand 4.0" should get GDP growth up to potential The World Bank believes Thailand should be able to achieve long-term annual economic growth of 4-5 per cent if the government can successfully push through its “Thailand 4.0” model. The new economic model would help draw private investment, the Bank’s economist for Thailand, Kiatipong Ariyapruchya, said yesterday. (The Nation, 06/10/2016) More World Bank raises GDP view, with caveat The World Bank has raised its full-year economic growth forecast for Thailand to 3.1% while voicing concerns about the main economic engine, government spending. It earlier estimated Thailand's GDP growth at 2.5% this year. The two main factors discouraging private investment were a shortage of skilled labour and a lack of confidence in state investment plans. (Bangkok Post, 06/10/2016) More

Q3/2016: Bangkok Megacity Feature: Bangkok becoming a megacity as BTS Skytrain expands to urban satellite areas; Bangkok facing major challenges as a megacity; Huge potential of construction and infrastructure sectors for Thailand’s AEC hub role // Business Brief // Chamber Activities // GTDEE Insights // GTCC Gala Night 2016 // Trade Fairs // Members' Corner

Preferred Benefits

Companies & Industrial Sectors Regulatory call made for blockchain Policymakers need to regulate financial technology (fintech) and businesses adopting blockchain, or distributed ledger, technology at appropriate levels to prevent any potential damages to consumers, according to the Fiscal Policy Office. (Bangkok Post, 10/10/2016) More AIS CEO lauds new structure Advanced Info Service has promoted Hui Weng Cheong to president from chief operating officer. The appointment took effect on 2 October 2016. Hui, a representative from Singapore Telecom, AIS's strategic partner, joined AIS in 2006. His rise to president has prompted speculation by some industry observers that SingTel wants to take a more active role in AIS's management.

(The Nation, 07/10/2016) More

TP Technical Panels is offering GTCC members 50% Discount on GPS Tracking Service plus complimentary consultation of fraud of fuel from company vehicles.

Glossary

TOT, PTT in talks on land development deal TOT is in talks with PTT about developing commercial projects on some of the telecom agency’s nationwide land bank, which would fit in well with TOT’s move to seek new revenue sources.TOT recently revealed its plan to develop commercially 10 of its many sites nationwide. This attracted PTT to approach TOT for talks on possible collaboration.The 10 sites are in provinces such as Khon Kaen, Mae Hong Son, Chiang Mai, Phuket, Prachin Buri and Chanthaburi.

(The Nation, 07/10/2016) More

AEC

Asean Economic Community

AIS

Advanced Info Service

BOI

Board of Investment

ThaiBev negotiating to acquire Ticon Thai Beverage Group is negotiating to buy Ticon Industrial Connection Plc, a SET-listed developer of ready-made factories and warehouses for rent. An industry source said ThaiBev wants to buy Ticon to expand its logistics network to profit on providing third-party logistics and to strengthen its distribution system because the latter has superior logistics know-how and a complete network.

(Bangkok Post, 06/10/2016) More

BOT

Bank of Thailand

CP

Charoen Pokphand

CSR

Corporate Social Responsibility

New Accor chain Jo & Joe targets young travellers Accor Hotel plans to open a new chain called "Jo&Joe" in Thailand and a total of 50 venues worldwide by 2020 in destinations popular with millennials. For Bangkok, the group is eyeing the Khao San, Charoen Krung and Ratchadaphisek areas for the first Jo&Joe property. Its strategy was based on research and in-depth analysis into the aspirations of millennials - people who reached adulthood around the year 2000.(The Nation, 03/10/2016) More

FTI

Federation of Thai Industries

GDP

Gross domestic product

IPO

Initial public offering

MoU

Memorandum of Understanding

NPL

Non-performing loan

R&D

Research and Development

TOT

Telephone Organization of Thailand

BDMS buys Nai Lert Park hotel Bangkok Dusit Medical Services Plc (BDMS), Thailand's largest hospital operator under the brand Bangkok Hospital, will spend 10.8 billion baht to buy Nai Lert Park hotel to develop it into a holistic services medical centre with a 2billion-baht. French hotel chain AccorHotels is preparing to help find jobs for 320 current employees at Swissotel Nai Lert Park, which is going to shut down by the year-end after its owner agreed to sell the property to BDMS. (Bangkok Post, 30/09/2016) More Banpu uses IPO to fund growth Banpu Power Plc expects its 648.5 million initial public offering (IPO) shares to start trading on Oct 28, with the proceeds used to raise power-generating capacity to 4,300 megawatts by 2020. (Bangkok Post, 06/10/2016) More Mitsubishi upbeat on pickup truck sales Mitsubishi Motors Thailand remains upbeat about its prospects for the pickup truck market this year despite falling sales in the first eight months. (Bangkok Post, 06/10/2016) More

EABC Speech Dinner with the Governor of the Bank of Thailand

Thailand and ASEAN Vietnam's parts-industry seeks Thai investors A seminar held by the Vietnam Trade Office, the Thai Board of Investment (BOI) and the Federation of Thai Industries (FTI) was calling on investment from Thailand in Vietnam’s parts-supply industry. As Thailand has much experience in developing the industry with investment from groups and companies from industrially developed countries such as Japan and the United States, those groups and enterprises in Thailand would be potential investors for Vietnam's

industries. (Viet Nam News, 08/10/2016) More Prayut steers investment drive Prime Minister Prayut Chan-o-cha has encouraged Asian business leaders to invest during the current global economic slowdown as he sees the private sector as a key catalyst for regional and global economic growth. Gen Prayut is confident there are still big opportunities in the region, in both soft and hard infrastructure. (Bangkok Post, 10/10/2016) More CP says Thailand could lead ASEAN countries in moving towards 4.0 era One of Thailand’s leading economic experts said Thailand would set an example as an industrial developing nation for ASEAN countries to follow in moving towards the 4.0 era. Charoen Pokphand Chairman Dhanin Chearavanont said industrial growth in ASEAN would certainly happen quickly if every government in the region allowed entrepreneurs who are financially and technologically ready to invest in their countries. (National News Bureau of Thailand, 10/10/2016) More

Date: 17 October 2016 Time: 18.00-20.30 hrs.

Venue: Le Grand Ballroom, Sofitel Bangkok Sukhumvit

Green Technology TDRI: Lack of preparation stifles EV ambition Thailand's ambition to develop electric vehicles (EVs) is unlikely to come to light any time soon because the domestic car market is not yet ready and its focus is still largely on conventional vehicles, says the Thailand Development Research Institute (TDRI). (Bangkok Post, 04/10/2016) More

Dr. Veerathai Santiprabhob was appointed the 23rd Governor of the Bank of Thailand, with his five-year term starting on October 1st, 2015.

He is a macroeconomist, strategist, and financial professional with more than 20 years of combined experiences in economic policy design, commercial banking, and capital market.

For registration, click HERE

The presentations for Spielwarenmesse 2017

Gunkul makes case for G2G backing for power projects Gunkul Engineering is urging the Thai and Myanmar governments to collaborate in the financing of power-generating projects. Sopacha Dhumrongpiyawut, chief executive officer of the company, said in an interview that the national-level collaboration would quicken the electrification process in Myanmar, which lacks both financial resources and expertise. Less than 40 per cent of population have access to electricity.(The Nation, 03/10/2016)More The Rise of EVs in Asia: Rough Road Ahead for the Oil Sector?

The number of Electric Vehicles (EVs) on the world’s roads in 2015 passed the one million threshold for the first time in history. Although still small, the EV market is growing exponentially at present. From a consumer’s perspective, EVs consume far less energy than gasoline-powered cars and generally cost about a third to run. Electricity prices are also more stable than gasoline prices, and EVs often have lower maintenance costs. If the number of gasoline-powered cars in use keeps declining, the impact on the global oil industry will be inevitable.(SCB Economic Intelligence Center, 03/10/2016)More

Date: Tuesday, 8 November 2016 Time: 10.00 – 120.00 hrs.

Venue: The Peninsula Hotel Bangkok, Butsaba room It's our great pleasure to invite you to an exclusive preview of the main trade fair highlights and upcoming trends before anyone else: TheSpielwarenmesse Thailand

Dialog Tour 2016 will shed light on the opportunities open to you at the world's biggest trade fair for toys hobbies and leisure. >>More information

Bilateral Business Thailand at core in Bosch’s 1.2 bn euro plan Robert Bosch has upped its Asia-Pacific business focus with the allocation of 1.2 billion euro (Baht 46.9 billion) worth of capital investment for the region this year. Bosch considers Thailand to be an important manufacturing location, with the country still the automotive hub of Asean. The company is investing €43 million in Thailand this year, with more investment expected next year for the company's first gasoline-injection system plant in Southeast Asia. (The Nation, 06/10/2016) More Volkswagen's share in ASEAN remains very low Wherever it sells cars, Germany's Volkswagen Group (VW) normally seeks at least 15% market share. But in the Association of Southeast Asian Nations -with its 10 countries and fast-growing population of 650 million -- VW's share remains very close to 0%. While fellow German automakers Mercedes-Benz and BMW have managed to increase their ASEAN footprints in the premium segment, the Germans have effectively surrendered the low- and mid-market segments to the Japanese. (Foundry Planet, 06/10/2016) More

Festival of the Germans 26 November 2016 Deutsch / English

Contact Person

Price comparison platform Priceza gets Series B from Germany’s Hubert Burda Media Priceza, a shopping search engine and price comparison platform in Southeast Asia, has secured a “seven-figure USD range and significantly higher than Series A funding” in Series B round from German media giant Hubert Burda Media (HBM). The investment was made through HBM’s VC arm Burda Principal Investments (BPI). (E27, 27/09/2016) More Chadaphan Maliphan Publication and Communication Manager Tel: +66 2 670 0600 ext 2005 Email: chadaphan@gtcc.org

CSR TCEB launches online campaign 'Meet in the Village' The Thailand Convention and Exhibition Bureau (TCEB) has launched an online campaign to encourage large businesses to organise outings, known as corporate social responsibility trips, to 10 selected villages across Thailand. The campaign, “Meet in the Village #bestcompanyoutingever” aims at generating a sustainable income for the local communities as a part of the Thailand Strategic Transformation concept. (Bangkok Post, 03/10/2016) More

Member News BASF expands polyurethane system house in Thailand BASF will expand its polyurethanes system house in Bangpoo, Thailand, as part of a move to convert the site into an ASEAN hub for the production of polyurethane systems. With the expansion, BASF is gearing up its capacity for the production of polyurethanes to meet growing market demands in ASEAN – particularly in the transportation and footwear segments. With a total production area of 2,700 m2, the redesigned system house will include additional mixing vessels, reactors and storage tanks. More Krones has upgraded its dairy capabilities with its new subsidiary Krones AG, Neutraubling, Germany, will be synergising its operations involving plant construction and service support for the dairy industry, under the aegis of Milkron GmbH. With this step, Krones AG aims to raise its profile for the relevant process technology, so as to become a global vendor for this segment on a long-term basis. Milkron GmbH began business operations as a subsidiary of Krones AG as from 1 August 2016. More Bosch 25th Anniversary in Thailand Robert Bosch Limited recently celebrated its 25 years in Thailand together with the new head office relocation at FYI Center. The company continues on making products that are "invented for life".

Roedl & Partners celebrating 10 years in Thailand Roedl & Partners, an integrated professional services firm, celebrated its 10th anniversary in Thailand. Roedl & Partners office assists clients in making best use of the liberal commercial and fiscal environment in Thailand. Its Bangkok team assists European and other overseas investors with subsidiaries, offices or individual projects in the country.

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