Thailand Business Directory

ASEAN has emerged as a rapidly evolving economic hub with strong GDP growth projected at 4.6%. Its diversity and young population contribute to its strength, and the region prioritizes innovation and inclusivity to fulfill its potential as a global economic center.

ASEAN's Economic Growth Potential

When looking at drivers of economic growth, ASEAN is a region sometimes overlooked for its potential and overshadowed by economic powerhouses such as China and the United States. Yet in recent years, ASEAN has emerged as a dynamic and rapidly evolving economic hub, displaying resilience in the face of unprecedented challenges, including the COVID-19 pandemic.

Rapid GDP Growth in ASEAN

According to the Asian Development Bank, South-East Asia's GDP growth for July 2023 was projected at a robust 4.6%, compared to the slower rates of 1.1% for the United States, 0.5% for the Euro area, and 0.6% for Japan. The region's strength resides in its diversity of languages, cu…

Indonesia's investment report highlights sectors ripe for foreign investment, such as local smelters for nickel reserves and becoming a global producer for electric vehicle batteries. In H1 2023, foreign investment reached $23 billion and domestic investments reached $20.4 billion. In 2022, foreign investment totaled $43 billion, with notable sectors including processed nickel exports and electric vehicle batteries. Indonesia aims to become one of the top three global producers for EV batteries by 2027. Indonesia's Investment Report Highlights Sectors Ripe for Foreign Investment Indonesia's investment report for the first half of 2023 emphasizes sectors that offer promising opportunities for foreign investment. One notable sector is the development of local smelters for nickel reserves. With approximately 22 million tons of nickel reserves, Indonesia's government is leveraging these resources to attract investments in smelter development. In 2022, the export value of processe…

Thailand and the United Arab Emirates are close to finalizing their free trade agreement, with 80% of the discussions already completed. It is expected to be completed by the end of the year and could boost Thailand’s GDP and exports.

BANGKOK (NNT) – The Commerce Ministry has reported that Thailand and the United Arab Emirates (UAE) are nearing the conclusion of their free trade agreement (FTA) negotiations, with approximately 80% of the discussions already completed. It is anticipated that both countries will finalize the FTA by the end of this year.

During the fourth round of Thai-UAE FTA negotiations in Bangkok on September 26-28, 2023, Commerce Minister Phumtham Wechayachai stated that he discussed various issues with UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi. As a result, both sides have reached agreements in various areas such as food, agricultural products, air conditioners, and car components. He added that the talks are …

Bangkok, 25 September 2023 – Prime Minister H.E. Mr. Srettha Thavisin presided over the welcoming ceremony at Suvarnabhumi Airport, one of four key airports holding momentous celebrations to welcome the first groups of tourist arrivals from the People’s Republic of China and Republic of Kazakhstan under the temporary tourist visa exemption scheme, which is effective from today until 29 February 2024.

Present along with the Prime Minister were H.E. Mr. Han Zhiqiang, Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the Kingdom of Thailand, H.E. Ms. Sudawan Wangsuphakijkosol, Minister of Tourism and Sports, Ms. Thapanee Kiatphaibool, Governor of the Tourism Authority of Thailand (TAT), as well as other senior officials and key figures from the public and private sectors.

Chinese and Kazakhstani travellers arriving in Thailand throughout the five-month period will be granted a temporary visa exemption for a 30-day stay for the…