e-UPDATE, 04 January 2017

GTCC e-UPDATE: 04 January 2017

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Upcoming GTCC Events Register now for our upcoming events: 12.01.2017 Joint Chambers Chiang Mai Networking 20.01.2017 Eastern Seaboard Networking by SATCC Thailand Economic Factsheet 27.01.2017 GTCC Breakfast Talk with Respondek “Pitfalls in International Contracts – And how to avoid them” 27.01.2017 GTCC Icebreaker Networking 1/2017: Welcome Back New Year 04.02.2017 SHOM 2017 Charity Dinner: Music for A Better World

Update Magazine

Economy BOI launches e-Investment promotion, effective on 1 January 2017 Thailand Board of Investment (BOI) has developed an online service (eInvestment promotion) to support the online submission of applications for investment promotion. Starting on 1 January 2017, all applications for investment promotion must be submitted via the e-Investment promotion system. Applicants can submit the form online at website: http://einvestment.boi.go.th

Q4/2016: INDUSTRY 4.0

>>Problems with filling out the application forms Affairs of the Office of Investment 1 Tel. 02-553-8335 email: sathapana@boi.go.th Tel. 02-553-8298 email: sithee@boi.go.th

Feature: Thai-German Industry 4.0 Symposium; The German Ambassador’s Speech; “Thailand 4.0” focusing on ten cluster promoting the Digital Economy; Thailand as a dynamic market for automation, robotics and the transformation to Industry 4.0; A Reality at Bosch; Meeting the Challenges of the Fourth Industrail Revolution; Reaping the Rewards of Digitalisation;GTDEE follow-up conference looking to the future // Business Brief // Chamber Activities // GTDEE Insights // GTCC Gala Night 2016 // Trade Fairs // Members' Corner

Affairs of the Office of Investment 2 Tel. 02-553-8134 email: chaninun@boi.go.th Tel. 02-553-8434 email: krittaya@boi.go.th

German-ASEAN Business Council Quarterly Newsletter

For queries, please contact the followings: >>Problems with system sign up Tel. 02-553-8228 email: pongpat@boi.go.th Tel. 02-553-8292 email: wera@boi.go.th

Affairs of the Office of Investment 3 Tel. 02-553-8428 email: suphanaree@boi.go.th Tel. 02-553-8281 email: wut@boi.go.th Affairs of the Office of Investment 4 Tel. 02-553-8394 email: oratai.p@boi.go.th Tel. 02-553-8404 email: tanachart@boi.go.th Thai economy set to hold steady The economy is gaining traction. From meagre 0.7% growth in 2014, when the country was in a political mess, expansion is expected to have reached 3% or even a bit higher in 2016. The pace of recovery, however, is still uneven.

(Bangkok Post, 04/01/2017) More All set for PromptPay After the lengthy testing process of PromptPay's consumer-to-consumer (C2C) service, a major bid to turn Thailand into digital payment mode, the money transfer service has been pushed back to further ensure its accuracy, stability

- December 2016 - September 2016

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and security. Originally slated for roll-out at the end of October, it is now scheduled for the first quarter of 2017. (Bangkok Post, 28/12/2016) More SET launches "sSET Index" on 4 January 2017 The Stock Exchange of Thailand (SET) announced the launch of the new index named "sSET Index", featuring 102 constituents that represent the price movement of the common stocks that have constant liquidity, apart from constituents in the SET50 Index and SET100 Index. Scheduled to launch on 4 January 2017, the "sSET Index" aims to be used as a benchmark for investment decision and can also be used as underlying index of financial products to be offered. (SET News, 21/12/2016) More NCPO jolts spectrum reform Prayut's decision to extend control over radio frequencies by state agencies as setback for media reform.THE extension of state agencies’ right to use more than 500 frequencies for radio broadcasting for another five years has dealt a severe blow to Thailand’s national media reform agenda. (The Nation, 22/12/2016) More Commerce Ministry to open "New Economy Academy" for start-ups The Commerce Ministry has announced a “New Economy Academy” (NEA), the government’s first ever training institute for the private sector, to strengthen start-ups as well as small and medium-sized enterprises (SMEs). (The Nation, 22/12/2016) More

contract to GLOBAL SOLIDOR Insurance Broker Co., Ltd. and get 7.5% discount on your next premium payment.

iCamp Thailand is offering GTCC members a 10% discount for camp programmes from now until 12 March 2017. Get the kids unplugged this school break, and let them live, learn, play with the best!

Glossary ACD

Asia Cooperation Dialogue

AEC

ASEAN Economic Community

BBL

Bangkok Bank

BOI

Board of Investment

GTAI News

BOT

Bank of Thailand

Thailands Tourismusindustrie expandiert kräftig Thailand will das Niveau seiner Tourismusindustrie mit mehr Qualität und einer höheren Wertschöpfung anheben. Ein Vierjahresplan soll hierzu bis 2020 neue Standards für Ausbildung, Personal und Management setzen. Der Tourismus wurde als eines von zehn Zukunftsclustern mit dem Fokus auf Wohlhabende, Gesundheit und Wellness bestimmt. Die Expansion im Hotelgewerbe wird sowohl durch ausländische Urlauber wie auch Geschäftsreisende für Kongresse und Ausstellungen getragen. (GTAI, Bangkok, 22/12/2016) More

CCI

Consumer Confidence Index

CPI

Consumer Price Index

CLMV

Cambodia, Laos, Myanmar, Vietnam

CPF

Charoen Pokphand Foods

CSR

Corporate Social Responsibility

EGCO

Electricity Generating Plc

FTI

Federation of Thai Industries

GDP

Gross domestic product

IPO

Initial public offering

MPI

Manufacturing production index

Companies & Industrial Sectors MoU Airports spruce up with major works to handle tourism surge As authorities anticipate 34 million foreign-tourist arrivals and 150 million domestic air travellers in 2017, major airports including Suvarnabhumi, Don Mueang International, U-tapao Rayong-Pattaya International, Krabi International, Phuket International and Chiang Rai Mae Fah Luang International are undergoing renovation or expansion. (The Nation, 04/12/2017) More

Memorandum of Understanding

NEP

New Economy Academy

NPL

Non-performing loan

Low-rise housing segment to see growth in 2017 Townhouses priced lower than 3 million baht in Greater Bangkok and higher than 3 million along mass transit lines are expected to continue being attractive among homebuyers in 2017. (Bangkok Post, 04/01/2017) More

OIE

Office of Industrial Economics

Krungsri eyes full leverage of fintech in digital era Bangk of Ayudhya(Krungsri) is implementing its first protocol for learning about customer technology adoption and leveraging financial technology to pave the way for running banking operations in the digital era. (The Nation, 04/12/2017) More

PHEV

Hybrid electric vehicles

R&D

Research and Development

Rocky road for media industry The landscape of the Thai media industry is changing significantly with traditional media, especially the print segment, struggling to survive after the rise of online media. But what is more crucial to the survival of media is how much advertising it attracts. Ad spending, in turn, is linked to economic growth, consumption and consumer confidence. (Bangkok Post, 03/01/2017) More

SIPA

Software Industry Promotion Agency

SME

Small and medium-sized enterprises

TAT

Tourism Authority of Thailand

TOT

Telephone Organization of Thailand

WTTC

World Travel and Tourism Council

E-commerce to help drive air cargo industry "Myriad overseas trade opportunities for Thai businesses": executive of DHL Express Thailand expects international air cargo volumes to continue growing in the coming year, while new trends will be good for Thai entrepreneurs wanting to expand into a wider market. . (The nation, 30/12/2016) More Ministry bumps up 2017 tourism revenue target The Tourism and Sports Ministry has revised up the country's tourism revenue target to 2.71 trillion baht in 2017, an 8.2% rise from the 2.5 trillion baht forecast this year. (Bangkok Post, 30/12/2016) More Energy, automotive pay higher bonuses Energy and automobile companies continue to pay higher bonuses to their staff than many other industries, although a handful of property developers will pay nine- or 10-month bonuses to selected staff. (The Nation, 30/12/2016) More Tech industry forges ahead In 2017, digital disruption will lead Thailand forward to create opportunities for the technology industry and more room for tech start-ups, especially those providing financial technology (fintech). (Bangkok Post, 29/12/2016) More Shippers less bullish about 2017 exports

Shippers predict export growth of 1-2% in 2017, lower than the 2.5-3% forecast by the government of Thailand, as external risk factors remain abundant.

(Bangkok Post, 29/12/2016) More CAT board accepts units merger The board of CAT Telecom has finally approved the consolidation of its internet data centre and submarine cable network businesses after nearly six months of uncertainty. (Bangkok Post, 24/12/2016) More Digitisation of banking system to continue in 2017 The rising use of mobile and digital banking and a consequent decline in visits to physical bank branches will continue to drive a transformation of the Thai banking system in 2017. The number of branches operated by the 11 listed commercial banks as of November 30 had dropped to 6,697 from 6,758 in 2015 and 6,732 in 2014.(The Nation, 23/12/2016) More Sipa becomes Depa as it takes on broader role The Software Industry Promotion Agency (Sipa) says it will propose a new organisational structure to the Digital Economy (DE) and Society minister by next month, which will enable it play a broader role to assist the development of the digital economy. (Bangkok Post, 23/12/2016) More

Discover the music of His Majesty King Bhumibol Adulyadej performed

by Pro Musica -- Thailand's first professional orchestra, founded in 1958.

Music in the Park Date: Sunday, 15 January 2017 Time: 16.00-19.00 hrs.

Pre-sale tickets price: 200 baht (for adult) and 100 baht (for child) To purchase the tickets, please contact Khun Sutida : sutida.chawaldit@gmail.com or Khun Petcharat : Petcharat_r@yahoo.com

Thailand and ASEAN AEC: One year on The Asean Economic Community (AEC) has just marked its one year anniversary after it officially came into effect on Dec 31, 2015. But Thailand has seemingly gained little from the regional economic integration, with border trade expected to see only a slight increase of 2% in 2016. (Bangkok Post, 04/01/2017) More

This event is hosted by ISB, International School Bangkok.

GTCC Business & Study Trip to Germany

Border trade to grow on regional demand Thailand's border trade is expected to continue growing by at least 3% next year, driven by the growing economies of Cambodia, Laos, Myanmar and Vietnam and the popularity of Thai products in those markets. (Bangkok Post, 28/12/2016) More Thai market emerges the best performer in ASEAN in 2016 The Stock Exchange of Thailand is expected to end the year as the best performer in Asean. As of 21 December 2016, the SET Index had risen 17 per cent since the beginning of the year, compared with a range of minus 4 per cent to plus 13 per cent for other markets in the region. (The Nation, 26/12/2016) More Thai M&As to continue in 2017 Mergers and acquisitions of domestic and overseas businesses by Thai conglomerates will continue in the New Year, especially acquisitions in Vietnam,

"Integrated Industry/Industrial Automation/Smart Factory" by visiting HANNOVER MESSE 2017 and Exclusive Site Visits 22-30 April 2017 (9 days 6 nights).

CLICK HERE for information on HANNOVER MESSE 2017 CLICK HERE for the program

according to deal-makers. (The Nation, 26/12/2016) More Myanmar's Natural gas export earnings slump Myanmar’s export earnings from natural so far this fiscal year are down 40pc compared to the same point in 2015-16, according to the Ministry of Commerce.

Its two main export markets for natural gas are Thailand and China. The country signs yearly agreements for the volume it will export, and the price fluctuates based on international market prices. Although oil and gas prices have recovered from their lows at the start of this year it will a prolonged and sustained recovery to bring up the export price. (MyanmarTimes, 23/12/2016) More

CLICK HERE for the application form For more information and registration, please contact Ms. Kamolchanok Nantaburom at Tel: 02 670 0600 ext. 4004 or Email: kamolchanok@gtcc.org by Friday 10 March 2017.

BMWi promotes start ups on 58 German fairs in 2017

Green Technology Gunkul keen for more wind operations in Myanmar Gunkul Engineering is ready to materialise wind-farm projects in Myanmar immediately after the investment plans are approved by the authorities.(The Nation, 04/12/2017) More BCPG starts 'community' solar farms BCPG Plc, the power arm of SET-listed Bangchak Petroleum Plc (BCP), has started commercial operations of two solar farms under the government's scheme for solar farms development with local agriculture cooperatives.

(Bangkok Post, 28/12/2016) More

The German trade fair organizers plan, on current status, the participation of young and innovative companies on 58 international trade fairs in Germany in 2017; the exhibitors on respective common booths are financially supported by the German Federal Ministry of Economic Affairs and Energy. >> Read More (in German)

Chiang Mai World Fair 2017: 27-29 January 2017

B.Grimm's solar power generates Bt500m B.Grimm Power Co, a unit of B.Grimm Group, has started commercial operation of solar power plants in four provinces with a power-generating capacity totalling 114 megawatts.(Bangkok Post, 27/12/2016) More

A joint venture between the Governor and Diplomatic Missions based in Chiang Mai to strengthen links between the people of Chiang Mai and Northern Region and the world community.

Bilateral Business

About the fair >> CLICK HERE For interested sponsors and exhibitors >> CLICK HERE

Siemens targets large share of contracts for Thai sugar mills Siemens has targeted landing contracts for at least half of new and expanded

or contact:

sugar-mill projects in Thailand, where the sugar industry is undergoing a multibillion-dollar, world-record expansion. (The Nation, 26/12/2016) More Germany targets Southeast Asia for tourism boost Germany will increase its tourism marketing activities in Southeast Asia next year, as it bid to attract more travellers from several high-growth markets.

(Travel Daily Asia, 12/12/2016) More

Khun Waraporn Boonsala (Tu) Event Sales Manager Chiang Mai World Fair 2017 Tel. 089-960-8442 Email: cmwf17@gmail.com

Career Day 2017

Legal / HR / CSR The daily minimum wage in Thailand increases in 2017 Starting from 1 January 2017, the daily minimum wage in Thailand will increase by 1.7% to 3.3% (amount depending on province) in most provinces of Thailand -- as approved by Central Wage Committee on 19 October 2016. (Frank Legal & Tax, December 2016) More

RIS Swiss Section Deutschsprachige Schule Bangkok (Minburi) is currently looking for professionals who are willing to participate at its "Career Day 2017" event. The event is planned for Thursday, 2 February 2017 at 10.00 - 12.00 a.m. For more information please CLICK HERE

9th Annual THAI.GER Supporters Charity Tournament 2017

New Property Tax 2017 The new Land and Building Tax Act (the “Act�) will become effective in January 2017 and will replace the existing and old Land and House Tax Act B.E. 2475 (1932) and the Local Development Tax B.E. 2508 (1965). The new law will introduce an entirely new system of property taxation that will likely increase the tax burden for owners of larger land areas and for land banking. (Frank Legal & Tax, December 2016) More DHL eCommerce helps Thai rice farmers connect directly to consumers DHL eCommerce, a division of Deutsche Post DHL Group (DPDHL Group), has collaborated with the Ministry of Commerce in Thailand to offer e-commerce expertise and logistics services free of charge for a period of four months to help Thai farmers grow their business and reap the benefits from selling on ecommerce platforms. (Digital News Asia, 22/12/2016) More

When: 28.01.2017, 10am-10pm (FREE ENTRANCE! incl. Evening Program) Where: Ruamrudee International School - Swiss Section For more information and registration, CLICK HERE

Contact Person

Member News

Chadaphan Maliphan

Krones' new subsidiaries: Krones Vietnam Company Limited and Krones Filipinas Inc. Krones Group, headquartered in Neutraubling, Germany, and the world's leading manufacturer of lines for filling beverages in plastic and glass bottles or beverage cans has converted its Representative Office in Ho Chi Minh City and branch office in Hanoi, Vietnam, into a subsidiary known as Krones Vietnam Company Limited. Likewise, its Representative Office in Taguig City, Philippines has been converted into Krones Filipinas, Inc. More

Publication and Communication Manager Tel: +66 2 670 0600 ext 2005 Email: chadaphan@gtcc.org

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