Singapore’s Mustafa Centre will retail Bruneian made F&B products for the first time following the shipment of a container with products from five local businesses.

The 20-foot container leaves for Singapore tomorrow via Amann Shipping, carrying almost 300 cartons of products.

These are Ghanim International Corporation’s crackers, chilli sauce, vegetable oil and water; Sahamada’s fish and chilli sauces and seafood and potato crackers; Taurean Bakeshop’s cookies; Marimin’s prawn and fish crackers; and Sabli’s teh tarik powder.

The milestone is another export collaboration between Darussalam Enterprise (DARe) and the Ministry of Primary Resources and Tourism (MPRT), and follows last week’s agreement signed for three Brunei producers to export to Sabah.

DARe has been engaging Mustafa since earlier this year, when they invited representatives for business matching sessions with local producers at the Brunei MSME Festival in March, followed by a visit by DARe to Mustafa in April.

Source: Biz Brunei

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SCGC collaborates with the Ministry of Natural Resources, The Youth Fund, and network partners to launch Nets Up Model, creating added value through circular economy innovations, upcycling discarded fishing nets into sustainable marine materials.

SCG Chemicals (SCGC), a leading regional player in the chemical business with a focus on business growth and sustainability, has collaborated with the Ministry of Natural Resources and Environment, local small-scale fishing communities in Rayong province, business partners, and marine environmental conservation networks to launch the "Nets Up" project, an initiative aims to add value through a circular economy approach for sustainable oceans. It repurposes discarded fishing nets into an innovative, recycled material called Marine Materials, extending its value into relevant industries such as textiles. This material is turned into yarn and woven into fabric for further processing into upcycled products, offering new options for environmentally-conscious brand owners and consumers.

The initiative promotes maximum resource efficiency in line with the principles of the circular economy, reduces marine waste, fosters community participation for a sustainable marine environment, and contributes to mitigating global warming. The ceremony was chaired by Pichit Sombatmak, Deputy Permanent Secretary of Ministry of Natural Resources and Environment, and Dr. Suracha Udomsak, Chief Innovation Officer and Executive Vice President of SCG Chemicals (SCGC), who delivered remarks and Mr. Kris Pakdeejit Co-signers of the MOU To show the importance of youth in driving to protect the ocean.

At the event, a Memorandum of Understanding (MoU) was signed to mitigate environmental impacts through marine waste management and to promote the development of innovations aligned with the principles of a circular economy. Many stakeholders participated in this collaborative effort, including SCGC, the Ministry of Natural Resources and Environment,The Youth Fund,The Marine and Coastal Resources Office 1, Alliance to End Plastic Waste (AEPW), the Plaschemical team, National Nanotechnology Center, Nyl-One, Thai Taffeta, Petrochemical Industry Club, the Federation of Thai Industries (FTIPC), the Thai Chamber of Commerce, Sustainable Consumption and Production Association (Thailand), pilot fishing communities, and networks for marine environmental protection.The agreement underscores a shared commitment to minimizing environmental impacts, advancing waste management, and championing innovations grounded in the principles of the circular economy.

Source : THE NATION THAILAND

Thailand's condominium ownership transfers to foreigners increased 65.6 percent year on year in the first six months of this year, due to increased newly completed projects and eased entry rules, data showed on Monday.

Around 7,338 condominium units worth 35.21 billion baht (about 0.98 billion U.S. dollars) were transferred to foreigners in the January-June period, mostly in the eastern seaside province of Chonburi and the capital of Bangkok, according to the Government Housing Bank's Real Estate Information Centre (REIC).

These transfer figures saw an ongoing recovery, though the overall number of units and unit value remained lower than in pre-COVID 2019, said REIC's acting director-general Vichai Viratkapan.

Source : Xinhua

The Thai stock market has seen the highest market capitalisation and daily trading volume in Asean this year.

Since the beginning of the year, a total of 336 mutual funds have been offered for sale, according to data released last month by the Securities and Exchange Commission (SEC).

As of July 2023, the total net asset value of mutual funds was 4.7 trillion baht, with an average annual growth rate of 0.3% over the past five years.

Since January 1 this year, there have been 22 securities offered for sale through initial public offerings (IPOs), raising 22.71 billion baht. Mutual funds investing in debt securities had the highest net asset value.

This year, 15 securities are ready for an IPO and awaiting approval, 31 securities are under consideration, and 92 securities are in the pre-consultation stage. This indicates a steady trend of fund-raising via the stock market, according to the SEC.

As for digital assets this year, one company has received approval for an initial coin offering (ICO) and 32 companies have ICO requests in the pre-consultation stage, with a cumulative fund-raising value of 2.66 billion baht through digital assets.

ICOs have become a popular way to raise funds for products and services usually related to cryptocurrency. ICOs are similar to IPOs, but coins issued in an ICO also can have utility for a software service or product.

Source : THE NATION THAILAND

Thailand and Laos have initiated discussions aimed at enhancing tourism collaboration, as they explore measures to attract more visitors to the region.

In a meeting held in Loei, Thailand, officials from both countries convened to discuss tourism route connectivity and expediting the construction of a second Thai-Lao friendship bridge in Pak Chom district.

During the 20th Thai-Lao border security meeting, various topics were addressed, including tourism promotion, cultural exchanges and economic, social and security cooperation.

As part of these efforts, Thailand recently approved a free-visa policy for Chinese tourists, prompting Laos to consider the development of its Muen border town in Vientiane to cater to the growing influx of Chinese visitors traveling to Thailand, with the possibility of extending their journeys into Laos.

The proximity of Muen town to Pak Chom district in Laos positions it as a potential gateway for linking popular attractions in both Loei and Vientiane. Plans are in motion to upgrade Laos’ temporary checkpoint to a permanent one, allowing for smoother border crossings and improved accessibility.

Loei also has ambitious plans to construct a second Thai-Lao Friendship Bridge in Pak Chom district. This infrastructure project is expected to have far-reaching benefits, including boosting tourism, trade, investment and logistical efficiency. The first Thai-Lao Friendship Bridge in Loei already connects Tha Li district in Loei to Kenethao City in Laos.

Source : NATIONAL NEWS BUREAU OF THAILAND

Chiang Mai Airport is preparing to unveil its development plan to boost airport capacity and receive more flights domestically and internationally.

Chiang Mai Airport Director Vijit Kaewsaitiam stated that the airport will construct a new terminal as part of its development plan, increasing airport capacity from 8 million to more than 16.5 million visitors per year. Flights will also be doubled to up to 30 flights an hour while operating hours will be extended to facilitate more international flights, especially from Europe.

The terminal project is in line with the Airports of Thailand’s strategic plan and the provincial development plan for Chiang Mai province. The first phase of the terminal construction will take three years to complete, with the terminal expected to be operational by 2029.

Airport officials are expected to report details of its development plan to Prime Minister Srettha Thavisin during his visit to Chiang Mai province this weekend. The premier is scheduled to visit the province on September 15-17 and will meet the airport’s executives to discuss the airport’s expansion plans and the effects it will have on nearby communities.

Source : NATIONAL NEWS BUREAU OF THAILAND

Nan Airport has announced an expansion project to extend its runway from its current 2,000 meters to 2,500 meters, aiming to support short-haul international flights in the future, particularly from China, and facilitate domestic flights between Nan and Phuket.

The plan is in response to the airport’s growing passenger numbers, with at least 1,000 passengers per day, showing signs of recovery from the COVID-19 pandemic.

During the first five months of this year, Nan Airport handled 1,240 flights, serving a total of 185,541 passengers, surpassing the figures from the same period of the previous year. To accommodate larger aircraft and prepare for future growth, studies have indicated the necessity of the runway extension.

The Department of Airports (DOA) is now seeking a 40-million-baht budget from the government to conduct an Environmental Impact Assessment (EIA) for the extension, which is required for runways between 1,000m and 3,000m in length.

The EIA study began in June and is expected to conclude by April next year. Construction of the extended runway is scheduled to commence in 2027, with an anticipated completion timeline of 2030.

Source : NATIONAL NEWS BUREAU OF THAILAND

The Royal Thai Embassy in the United States recently shared on its Facebook page that Thailand has secured the ninth spot among 87 countries listed as the most business-friendly in 2023.

The annual ranking, known as the Best Countries for Business in 2023, is organized by the U.S News and World Report and takes into account a weighted average of five factors including bureaucracy, low production costs, corruption, tax-friendly environment, and transparent government regulations.

Switzerland tops the list as the most business-friendly country, followed by Luxembourg and Finland. On the other end of the spectrum, Russia is ranked as the least business-friendly country, followed by Iran and Belarus. The top 10 countries for business-friendliness in 2023 are Switzerland, Luxembourg, Finland, Sweden, Norway, Denmark, Singapore, Panama, Thailand, and New Zealand.

Source : Thailand Business NewsTHAILAND