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Vietnam’s aquatic export targets 9 billion USD in 2021

Vietnam’s aquatic export is hoped to hit 9 billion USD in 2021 thanks to the recovery of consumption in key markets such as the US, the European Union (EU), and other potential markets.
Vietnam’s aquatic product export in the first six months of this year reached 4.1 billion USD, a year-on-year increase of 20 percent, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Tra fish was one of the main contributors to aquaculture’s export growth.
In the US market, two Vietnamese producers of Tra fish have been given a zero-percent anti-dumping tariff, which helps facilitate the shipment of the product to this market.
Export of Vietnamese tra fish to many markets including Mexico, Brazil, the UK, Thailand, the Netherlands, Colombia and Russia has shown three-digit increases, compensating for a decrease in the Chinese market, which remained the biggest importer of tra fish from Vietnam, accounting for 26 percent of the total.
Along with tra fish, the export of other seafood products also went up, contributing to the 4.1-billion-USD export turnover in the period.
VASEP reported that by the end of June 2021, tuna export earned 364 million USD, up 24 percent against the same period last year. Meanwhile, the squid and octopus export totaled 277 million USD, posting a year-on-year rise of 15 percent.
General Secretary of VASEP Truong Dinh Hoe said the export of squid, octopus, and tuna has witnessed strong growth in most major markets in recent times.
The US is consuming 43 percent of Vietnam's tuna, Hoe said, adding that when the US market reopens, all tuna product segments have the opportunity to increase market share in this country.
Other key markets all have recorded optimistic signals with high growths, Hoe noted.
Typically, Vietnam’s export of squid and octopus to Italy, Canada, and Israel climbed by 122 percent, 62 percent, and 37 percent, respectively, in the Jan – June period. The biggest importer of Vietnam’s squid and octopus – the Republic of Korea with a market share of 41 percent, also showed a rise of 7-8 percent./.
Source: VNA

Vietnam's agro-forestry and fishery exports to the EU still increase steadily

A representative of One IBC Vietnam Company said that the EU is the fourth-largest importer of Vietnamese agricultural products. Along with the import tax exemption and reduction under the EVFTA, Vietnamese exports seem to be strengthened to increase competitiveness and affirm their position in the international market.
These days, consecutive shipments of fresh lychee by air have been exported by Vietnamese enterprises to the Czech Republic, Germany, France, and Belgium. Tran Van Cong, Vietnam’s agricultural counselor in Europe, informed that the first batch of lychee arrived in Belgium, an important milestone, as a special “passport” proving the production level of Vietnamese agriculture.
According to the Vietnam Association of Seafood Exporters and Producers (Vasep), European importers tend to be more interested in Vietnamese seafood suppliers with tariff advantages from EVFTA and stable sources of raw materials. Vietnam’s seafood exports to the EU in the first 5 months of the year reached over 380 million USD, up 15% over the same period last year. In which, shrimp still accounted for 50%, with nearly 199 million USD, up 22% over the same period last year.
Vasep expects that Vietnam’s seafood exports, especially high-end products, will increase when out-of-home dining services in the EU are gradually reopened.
The plan to bring agricultural and seafood products to the EU market is still being vigorously implemented. Mr. Le Ba Linh, Chairman of the Board of Directors of Pacific Foods, said that after bringing lychee to conquer the EU through the Czech Republic, it will be the turn of jackfruit, dragon fruit and rice that this unit promotes exports to this market. “We are confident that we will be able to do this because we have been exporting fish sauce for 10 years to the US market and are ranked in the top 1 in terms of Mami fish sauce brand on Amazon”.
Source: HNN (mard.gov.vn)


Rehabilitation loans have reached 21,929 SMEs.

The Bank of Thailand said THB66.898 billion had been disbursed under the latest loan rehabilitation project, as of July 5, with approvals given to 21,929 people who received assistance, with a limit of THB3.1 million per person.

The BOT had opened for financial institutions to seek loan rehabilitation on April 26, consisting of measures to support loan rehabilitation of THB250 billion and the Asset Warehousing project with a budget of THB100 billion.

Loans approved to SMEs amounted to THB31.629 billion, or 47.3 per cent. It said 9,674 people received credit lines accounting for 44.1 per cent, followed by THB27.464 billion to large businesses, accounting for 41.1 per cent, and debtors about 7 per cent.

OPEC+ crisis propels oil to six-year high as market tightens

Oil fell the most since late May as a stronger dollar spurred a broad sell-off across the commodities complex while uncertainty over OPECs next move loomed large in the markets.

Futures in New York slid 2.4% on Tuesday. The U.S. dollar rose, making commodities priced in the currency less attractive to investors. The pullback in crude is a stark reversal from earlier in the session when futures soared to a six-year high amid an escalating fight between Saudi Arabia and the United Arab Emirates that has pushed OPEC+ into crisis and blocked a potential increase in oil supplies next month.

"Lots of uncertainty is lying ahead about the group's output policy in coming months and this will lead to increased volatility," said Tamas Varga, an analyst at PVM Oil Associates Ltd. in London.

Oil prices have staged a massive rally this year as vaccination campaigns and economic reopenings have prompted a comeback in global fuel consumption. Tuesday's volatility underscores how uncertain the supply picture has become while the world's largest crude producers remain at a standstill over how to respond.

Discussions among the alliance dissolved acrimoniously as the United Arab Emirates blocked a proposal led by Saudi Arabia and Russia. While the situation is fluid and negotiations could be reactivated, the breakdown has damaged the group's image as a responsible steward of the market.

"Demand has been the primary signal for the oil markets for the last year or so," said Louise Dickson, oil markets analyst at Rystad Energy. "Now, we've started to reach this pivot where the supply uncertainty is driving the prices and this time, it's actually been stoked by OPEC+ itself."

Meanwhile, Biden administration officials have spoken with officials in Saudi Arabia and the United Arab Emirates in hopes of reaching an agreement to stem the rise in crude prices, White House press secretary Jen Psaki said Tuesday.

The U.S. hopes talks will lead to an agreement that "will promote access to affordable and reliable energy," Psaki said during a briefing at the White House. The impact of talks on gas prices in the U.S. is of interest to the administration, she said.

WTI hit the highest since November 2014, as the breakdown in talks left the market without extra supplies for next month. Tuesday's subsequent pullback in prices stems from concern or "skepticism that this is not the real oil price, and the last two or three days have reminded us that OPEC+ is holding this thing together," said Christyan Malek, head of oil and gas research at JPMorgan Chase & Co., in a Bloomberg television interview.

The 23-nation OPEC+ coalition had been on the brink of an agreement to restore production halted during the pandemic, in monthly increments of 400,000 barrels a day. That plan could still be ratified, or members may choose to informally leak barrels to eager consumers.

The lack of OPEC+ unity could invite new barrels to the market and spell bearish news for current prices, said Tom Finlon of Brownsville GTR LLC, a trading and logistics firm based in Houston.

"I think if you have 23 oil-producing countries that are party to an agreement, and that agreement isn't extended, and the price of crude is in the mid-70s, that's an engraved invitation to overproduce," said Finlon.

Oil and Dollars: Why the UAE Is Risking a Falling-Out With OPEC+

Traders will also look to crude and gasoline inventory data in the U.S. released by the industry-funded American Petroleum Institute on Wednesday for signals on how strong demand is in the midst of the summer driving season.

By : Syndication Washington Post, Bloomberg · Jill R. Shah

Mother of Spices: Indonesia Eyes to Boost Spice Export to the EU

According to the Coordinating Ministry for Economic Affairs, the global demand for spices is rising amid the Covid-19 pandemic as the world is becoming more aware of its healing properties.

 

The ministry's food and agribusiness coordination deputy Musdhalifah Machmud noted Indonesia recorded $218 million for spice export in January-April 2020, a 19.28 percent rise from the same period in 2019. 

 

"A market prospect that we should address is that the global spice consumption increases 2 to 5 percent per year, with a value of $16.6 billion in 2013," Musdhalifah told the Sustainable Spices Initiative Indonesia (SSI-I) virtual launch on Thursday.

 

Musdhalifah said major economies such as the EU, the US, and Japan amount to 47 percent of the total global spice import. She also saw a tremendous opportunity in the EU market.

 

"The EU holds the largest share, or 34 percent, in the global spice imports, mainly from China, India, Indonesia, and Brazil. The EU is also predicted to have a fivefold increase in spice imports in 2050."



Source: JakartaGlobe

Author: Jayanty Nada Shofa

Original published date: 30 April, 2021


Read full article here https://jakartaglobe.id/business/mother-of-spices-indonesia-eyes-to-boost-spice-export-to-the-eu

Indonesia, ASEAN agree to keep trade open amid COVID-19

The agreement was reached during the Special ASEAN Economic Ministers (AEM) Virtual Conference Meeting on COVID-19 Responses.

 

The meeting discussed the joint efforts taken by ASEAN countries to deal with the COVID-19 pandemic, and followed up on an agreement reached by the heads of states and governments of ASEAN in the Declaration of the Special ASEAN Summit on Coronavirus Disease 2019 and the previous ASEAN Economic Ministers (AEM) meeting, which produced the AEM's Statement on Strengthening ASEAN's Economic Resilience in Response to the Outbreak of COVID-19.

 

"Indonesia and the ASEAN economic ministers are committed to exploring mechanisms to maintain supply chain connectivity and ensure the smooth flow of trade in essential goods in the Southeast Asia region, particularly those related to handling the COVID-19 pandemic," Deputy Trade Minister Jerry Sambuaga said in a statement in Jakarta on Friday.

 

At the meeting, ASEAN economic ministers also agreed on the Hanoi Plan of Action on Strengthening the ASEAN Economic Cooperation and Supply Chain Connectivity in Response to the COVID-19 Pandemic, he added.

 

The agreement includes cooperation in enabling trade of important goods (food, medicines, medical equipment, and other related products), as well as assisting production of and improving access to COVID-19 medicines and vaccines through the strengthening of supply chain connectivity.

 

Governments and businesses in ASEAN are committed to working together to deal with the COVID-19 pandemic, including in efforts to mitigate the adverse impact of the pandemic in the social and economic fields.

 

Several business sectors in ASEAN have been negatively affected by the COVID-19 pandemic, including travel, essential goods and related supply chains, medical services, and digital tools.

 

The Vice Minister of Trade urged all countries to work together to arrest and stop the spread of COVID-19.

 

"The Indonesian government is prioritizing the protection of public health, while maintaining that the production and distribution chain of important goods, both domestically and abroad, continues to run smoothly," he concluded.



Source: Antara News

Reporter: Sella P, Azis Kurmala

Editor: Sri Haryati

Original published date: 6 June, 2021


Read full article here https://kalsel.antaranews.com/berita/176084/indonesia-asean-agree-to-keep-trade-open-amid-covid-19

Indonesia Successfully Recorded a Trade Surplus with Switzerland

Good News for Indonesia comes from Switzerland, although the global economic situation has not yet recovered due to the impact of the pandemic, Indonesia persisted and managed to record a trade surplus with Switzerland. Indonesia's trade performance strengthened and showed a surplus in May 2021, after declining in the previous months this year.

 

According to the Swiss Federal Customs Administration/FCA, the total value of Indonesia's exports to Switzerland in the January-May 2021 period is USD 782 million. Meanwhile, the value of Indonesia's imports from Switzerland is USD 159 million USD. Thus, Indonesia-Switzerland trade reached a surplus for Indonesia of USD 623 million during the first 5 months of 2021.

 

“This is good news, although world trade tends to decline, Indonesia can still maintain a trade surplus with Switzerland. We hope that in the future the value of Indonesia's trade surplus to Switzerland will remain," said the Indonesian Ambassador to Switzerland and Liechstentein, Prof. Muliaman Hadad, Ph.D.

 

The positive developments in the trade sector are expected to be the main capital in efforts to recover the economy for both countries. The momentum of the trade surplus recorded by Indonesia against Switzerland is also expected to contribute to the economic recovery process and help build back better efforts.

 

There has been a shift in the order of Indonesia's main export commodities, especially in turbine engines and spare parts, furniture, and essential oils. When viewed from the value, all three experienced an increase in the January-May 2021 period compared to 2020 in the same period.

 

Indonesia - The EFTA CEPA (IE-CEPA) is an important agreement and it is hoped that through this agreement the opportunities will be more open for market access for trade in goods, services, and investment so that it will further encourage the strengthening of bilateral economic cooperation between Indonesia and Switzerland. Quoted from the EFTA page, Switzerland is the highest importing country from Indonesia compared to other EFTA countries, which is more than 65% of the total imports of EFTA countries from Indonesia.

 

The IE-CEPA does not only cover cooperation in trade in goods and services, but also investment. This year, for the first time, Switzerland is in the 5th Foreign Direct Investment list in Indonesia in first quarter of 2021.



Source: The Ministry of Foreign Affairs of the Republic of Indonesia

Original published date: 29 June, 2021


Read full article here https://kemlu.go.id/bern/en/news/14217/indonesia-successfully-recorded-a-trade-surplus-with-switzerland

Hong Kong firms urged to expand or set up shop in PH

The Department of Trade and Industry (DTI) has invited Hong Kong companies to expand or set up shop here to ride on the Philippine expected recovery this year, as it strengthens trade and investment ties with other countries.

“We believe that the continued gradual and calibrated reopening of the Philippine economy, together with the country’s rollout of vaccination, is keeping us on track towards a V-shape recovery. We are already seeing some signs of recovery with respect to our GDP (gross domestic product) growth, record investment, and export growth rates that also led to about 72 percent growth last April, even higher than the 2019 pre-pandemic levels,” DTI Secretary Ramon Lopez said in a virtual forum.

Lopez said the game-changing Corporate Recovery and Tax Incentives for Enterprises (CREATE) law will make the investment climate in the Philippines significantly more attractive.

He cited the continued rollout of the government’s massive “Build, Build, Build” infrastructure program, and the implementation of streamlining and digitalization in government services to facilitate ease of doing business in the country.

“These are just a few of the many reasons why (the) Philippines is an ideal complement to Hong Kong businesses that planned to expand their R&D (research and development) activities, manufacturing activities, and IT (information technology) and business process management activities. Just to note we have a lot of companies with Hong Kong equity doing business in the Philippines,” he said.

Lopez said the Philippines has preferential access in major markets through the free trade agreements (FTAs), including European Union’s Generalized Scheme of Preferences Plus (GSP+) and the United States’ GSP program which is under discussion for renewal.

The government has also submitted its interest to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) which will expand Philippine trade ties creating more opportunities to enhance competitiveness and market access for companies to the country, he added.

The CPTPP is a free trade deal of 11 member economies of the Asia-Pacific Economic Cooperation (APEC).

“We would like to point out that the Philippines can be a strategic hub in the Asia Pacific for hyperscalers. We would like to invite you to look at the Philippines to either co-locate or put up data centers here leveraging on our large population and propensity to consume data, foreign content, and cloud services. We also have the necessary infrastructure as well as the regulatory environment to attract hyperscalers,” Lopez said.

He assured Hong Kong companies that the DTI, through the Board of Investments (BOI), and the Philippine Trade and Investment Center based in Hong Kong will assist them to facilitate their business interest.

The Trade chief said Hong Kong is the country’s fourth largest trading partner, fourth biggest export market, 11th import supplier, and 16th investment source in 2020.

Edward Yau, Secretary for Commerce and Economic Development of Hong Kong SAR government, said mainland China and Hong Kong constitute more than a quarter of the Philippine exports, surpassing the US and Japan.

“I would say that the relationship between Hong Kong and the Philippines is not just strong, but it also has a lot of potential to grow. (In the) global picture, both Hong Kong and the Philippines are at the center of the global trade because of geographical location, because (both) believe in free trade and also the robust economy that we both share,” he said.

Yau said the fight against the coronavirus opens up business opportunities in services and trade related to public health and pandemic containment.

Steve Chuang, deputy chairman of Federation of Hong Kong Industries, said their members found that 60 percent of the Philippine exports are electronics industries.

“Among these exports, 75 percent are semiconductor and the semiconductor-related business so you can see that for electronic business, the Philippines is a mature area to do business and it is good they have a (stable) supply chain which is very good for
electronic manufacturing companies,” he said.

Jesus Varela, Director General of International Chamber of Commerce Philippines, said the digital sphere presents opportunities as the coronavirus accelerated digitalization.

“The sale of smartphones, laptops and computers was never so brisk in the first months of the pandemic and in the period of April to May, there were about at least 200,000 new websites and platforms created and suddenly social media was inundated with all kinds of goods to sell and services to offer. But by and large, we are the winners wherein the healthcare and pharmaceuticals industry that was in the frontline in the battle versus Covid and the uncertainty of when the lockdowns end has benefited the food manufacturers,” he said.

Varela said other winners are the telecommunications and broadband service amid the work-from-home arrangements and would service the household or businesses whether for entertainment, education or professional use.


PH skills program launched with logistics as pilot industry

Eleven government education and sector agencies on June 25 signed a memorandum of understanding (MOU) launching the Philippine Skills Framework (PSF) initiative. The project aims to reskill and upscale the country’s workforce, with logistics and supply chain as the pilot industry.

A memorandum of agreement on the PSF for Supply Chain and Logistics (PSF-SCL) was signed virtually on the same day by four government agencies and 16 industry association groups.

The PSF is an inclusive innovation strategy that seeks to equip the country’s workforce with skills mastery and prepare them for the future economy, especially for the fourth industrial revolution (4IR) or Industry 4.0, by providing industry-specific skills frameworks.

The initiative resulted from an MOU to cooperate in human capital development that was signed in 2019 by the Philippines and Singapore. The Philippines was represented by the Department of Trade and Industry (DTI) and Technical Education and Skills Development Authority (TESDA), while Singapore was represented by SkillsFuture Singapore, an arm of Singapore’s Ministry of Education. The PSF initiative was produced by referencing the Singapore Skills Framework.

“The need to reskill and upskill our human capital and workforce remains a crucial part of our plans. This is essential so that our industries can increase and sustain their competitiveness under the 4IR and move us closer to our goal of becoming an industrialized nation,” Trade Secretary Ramon Lopez said in a statement during the PSF launching.

TESDA director general Isidro Lapeña said the PSF “is developed by and for the industry” in the same way that TESDA’s training regulations are developed.

Under the MOU, the parties commit to coordinate and collaborate to develop the country’s human capital and workforce for the 4IR, and upgrade workers’ skills for the future economy.

Interagency efforts will involve the development of sector-specific skills frameworks that will provide guidance on how to enhance the skills of the country’s workers for particular job roles.

(For the full report, visit https://www.portcalls.com/ph-skills-program-launched-logistics-pilot-industry/)


6. Container premium rates seen to increase from July 1
Container shipping lines are likely to increase their premium charges on July 1 even as trans-Pacific premium rates in particular are already at record highs, according to S&P Global Platts.

Platts, a leading provider of benchmark prices and analytics for the commodities markets, said indications show premium rates are still going upwards even as customers are already paying premiums in the five digits.

Moreover, most eastbound trans-Pacific cargo is now moving on a premium basis and carriers are said to be releasing few freight all kind (FAK) bookings.

FAK is a pricing system in which a group of shipments is put together to be transported as a single shipment and freight is charged using a unique rate.

According to a recent blog by S.P. Fume Co., Inc., a US-based port fumigation service company, premium rates refer to the specific amount of rates being added to regular rates, which currently are already extremely high.

The blog noted that over the last four to five months, all the shipping carriers “started to implement this ‘premium strategy,’ which is actually just a GRI (general rate increase) variation without the 30-day notice that the FMC (US Federal Maritime Commission) requests.”

But even with premium rates, the blog said carrier service remains questionable: “One might have thought that services provided should be exceptional, especially since the rates have just about tripled from what these fees were a year ago. However, the services have not improved.”

It noted that the reliability schedule has actually declined from 80% to 85% to 40% to 45%.

During the week ended June 25, S&P Global Platts heard all-inclusive premium bookings at US$17,700 per forty-foot equivalent unit (FEU) into the US Gulf Coast, and an FAK excluded rate from Southeast Asia to US West Coast at $14,000/FEU.

One shipper was heard paying $22,000 per FEU for Southeast Asian cargo bound for the US Gulf Coast.

And some shippers have reportedly been denied bookings even while paying premium levels, as importers vie with one another to secure a booking, added Platts.

And while the Port of Yantian in China has resumed full capacity, there remains a significant backlog of both inbound and outbound cargo.

Heading into the summer peak season, both FAK and premiums from South China base ports are expected to see significant increases as carriers and terminals grapple with the cargo pileup, which could leave South China rates higher than those in North Asia.


ASEAN is the next Silicon Valley, absorbing global tech talent

In the ASEAN Dialogue series, Nikhar Aggarwal of Economic Times CIO conducted a candid discussion with Miao Song, Global CIO, MARS Petcare. The discussion revolved around successful use cases of technologies such as Analytics, AI and touch based on a few emerging trends such as blockchain. Song highlighted her experience with technologies and managing her team amid this pandemic.
She has emphasised smart manufacturing, remote working, the use of digital twins, and the digital transformation journey of the organisation. Song has expressed her personal opinion on the technological evolution of Singapore and the ASEAN region leading in the journey of digitalisation around the world. The discussion concluded on how Southeast Asia is becoming the Silicon Valley and thriving on innovation.
When asked about the job opportunities in the Southeast Asia market for techies, Song confidently expressed her personal opinion and experience as she has recently come back to Singapore for a period. She said that tech professionals, IT graduates and even the young entrepreneurs planning to build a start-up in Southeast Asia, the region is cultivating opportunities for everyone, all it takes is an open mind, innovative thinking and calibre to build something new, rest the region will open gates for talent from around the world.
Watch the video of the interview here
Source: Economic Times CIO

Thailand’s digital transformation boosts data industry

Enhancing the competitiveness of the local business environment and enabling a transparent government to provide its citizens with equitable access to public services and their data by utilising digital technology are central to Thailand’s national development plan, “Thailand 4.0”. The advancements made by Thailand in implementing its digital government policy will spearhead the digitalization of the private sector and enhance the access of both citizens and businesses to public sector data to drive the country’s overall economic competitiveness.

The demand for data centres and cloud technology in Thailand has been underpinned by the country’s high internet and mobile internet penetration, with individuals and consumers spending more time online and companies adapting to the new business norms of work-from-home and the gig economy. These changing behaviours have been spurred by consumer confidence in the country’s communications infrastructure, 5G technology and legal framework as well as the government’s facilitation of the digital economy.

At the corporate level, the data centre market has been driven by companies’ preference for having carrier-neutral colocation data centre capacity for their network and IT services, while the growing use of digital platforms in the financial and telecommunication industries as well as content and digital media requirements have also contributed to the rising demand. Looking ahead, the data centre industry is expected to continue enjoying healthy demand with more organisations adopting cloud technology, big data and analytics, and Internet of things colocations as businesses look for more stable and affordable resources for server storage, data analytics and connection. Indeed, the proliferation of tech companies, IT service providers and e-commerce companies has resulted in a shift towards hyperscale colocation data centres

Thailand 4.0 Drives Demand for Colocations

A key prong of the “Thailand 4.0” national development plan, which seeks to promote the adoption and innovation of digital and automation and robotics technology among SMEs, manufacturing companies and the service sector will underpin the robust demand for data centres. With its focus on ensuring Thailand embraces the opportunities that arise from digital technology to improve its citizens’ quality of life, the participation of all in political governance and the country’s economic competitiveness through initiatives such as the Smart City Development project, big data platform and analytics for agricultural, education and healthcare policies and investment in digital infrastructure, Thailand 4.0 is set to lead to further demand in this segment.

Thailand is witnessing explosive growth in carrier-neutral colocation data centre services from the arrival of new players as well as the capacity expansion of existing providers. Thailand currently houses a total of 18 colocation data centres1 with approximately 400,000 sqft of multi-tenant data centre (MTDC) operational space in 2019.2

With its competitiveness in ICT, the strength of its basic infrastructure, its skilled workforce, the support from its public sector and its strategically advantageous location, Thailand is well positioned to become an important destination for colocation data centres that serve the demand of businesses operating within the Association of Southeast Asian Nations (ASEAN).

Pandemic Spurs Digital Way of Life

As people increasingly logged on to manage ever more aspects of their daily life in an effort to overcome the challenges posed by the COVID-19 pandemic in 2020, the “Global Digital Report 20216” confirms the remarkable trends of Thai citizens’ engagement in the digital world. Indeed, the almost nine hours that Thai internet users spend in front of a screen each day is not only above the global average but the 9th highest in the world.

Thailand was ranked third in the world for ecommerce adoption with 84% of the country’s internet users having bought something online over the previous month, trailing only Indonesia and the UK, and comfortably above the global average of 77%. The country was also ranked fifth for using QR codes with 60% of its internet users utilising this service in December 2020. The country also recorded the highest number of transactions through mobile banking and financial transaction apps in 2020, possibly thanks to the government’s digital co-payment scheme as part of its relief package for people affected by the pandemic.

BOI Promoting the Digital Ecosystem

To further strengthen the ecosystem of the digital industry, Thailand’s Board of Investment (BOI) is currently promoting the digital industry through tax and non-tax incentives, with a focus on three groups, namely, software development, digital infrastructure and digital ecosystem supporting businesses. 

 

Source: Bangkok Post

Read the full article here

NSTDA partners with Railway Technical Research Institute (RTRI) Japan to enhance “Research and development in the Thai railway system”

NSTDA and RTRI, Japanese’s technical research company, under the Japan Railways (JR) group of companies, have entered into a 3-Year Memorandum of Understanding (MOU) from 1 July 2021 to 30 June 2023, to establish a formal technical cooperation to exchange and co-create information, know-how, human development, and joint research in the area of railway technology. This formal collaboration aims for the enhancement and advancement of the Thai railway system.

The MoU signing ceremony has been conducted through a virtual platform. The MOU has been signed by Dr. Narong Sirilertworakul, President of NSTDA, and Dr. Ikuo Watanabe, President of RTRI, and witnessed by Dr. Ekkarut Viyanit, Director of Rail and Modern Transports Research Center of NSTDA, and Dr. Tetsuo Uzuka, General Director of International Division of RTRI. Mr. Hosono Keisuke, First Secretary for Digital, Information & Communications Technology, Science, Technology & Innovation, Embassy of Japan in Thailand, also attended and gave a greeting speech to celebrate the partnership.

Formation of the collaboration between NSTDA and RTRI was actually initiated in 2011. Through this relationship, RTRI has actively participated and offered different kinds of support such as hosting a technical visit on rail systems in Japan, and co-hosting Thai Rail Industry Symposium and Exhibition (RISE), an important event for the Thai railway system in Bangkok with NSTDA, from 2016 till present.

“I am very much hoping that the establishment of this formal partnership between NSTDA and RTRI will be a steppingstone to expand the exchange and co-creation of information, know-how, and joint research in the area of railway technologies between our two institutes even wider,” said Dr. Narong Sirilertworakul. “In so doing, I trust we will contribute significantly to the advancement of the Thai railway system as well as bring bilateral relations between Thailand and Japan even closer.”

“Thailand is one of the most strategic partners in South East Asia and NSTDA is among the leading research institutes in the country,” said Dr. Ikuo Watanabe. “RTRI realises that NSTDA has mandated and committed to research and development for the advancement of the railway systems in Thailand. It is very significant for both RTRI and NSTDA to conclude this memorandum of understanding on technical cooperation and, in so doing, to support the R&D activities between our organisations. Realising the aims of this MoU will certainly benefit rail system standards, not only for Thailand, but for our other friends in Asia.”

Mr. Hosono Keisuke added that, “We all know that railway systems are essential infrastructures. Railway systems improve the quality of life through providing logistics and daily transportation for people. From my observation of the spawning of many rail routes in recent years, the railway system in Thailand has progressed rapidly, not least opening new Bangkok skytrain routes almost every year. We are very happy that Japanese technology has been adopted and used in the Red and Purple lines, for instance. This collaboration between NSTDA and RTRI aims to jointly develop innovations and technologies for the advancement of the Thai railway system. As such, it is another important milestone the Embassy of Japan in Thailand would like to commend.”

“For NSTDA’s rail system works and technologies, in February 2020 the Institute founded ‘Rail and Modern Transports Research Center (RMT)’ as an R&D focus centre. RMT mandated development of ready-to-use technologies for rail and modern transport industries and conducted R&D projects into areas of safety and reliability enhancement in the railway system. The focus is on the development of predictive maintenance technology, development of automated inspection techniques, development of technology for railway parts & components manufacturing, and maintenance data analytics. Furthermore, the research work and technical capacity building concerning connected and automated mobility, enhances convenience of railway passengers in last-mile connectivity, and this is among the key areas of RMT responsibilities.”

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