Thailand’s Government Pharmaceutical Organization (GPO) has established a cooperation with a South Korean biotech company to improve the manufacturing of influenza vaccines in the country.

The GPO signed a Memorandum of Understanding with South Korea’s biopharmaceutical firm SK Bioscience on the development of a new technology for the production of influenza vaccine, using a cell-based technique. This cooperation is to replace the traditional manufacturing method of inactivated influenza vaccine using eggs with the cell-based technique, also called cell culture, where flu viruses are grown in cultured cells instead of chicken eggs.

Dr. Mingkwan Suphannaphong, Managing Director at the GPO, said this cooperation will see SK Bioscience transfer its technology on the bottling process for future vaccines to the GPO. The South Korean company is a manufacturer of pre-filled and ready-to-use influenza vaccines, covering 3 or 4 strains of the virus.

The second phase of this technological transfer will cover all aspects of manufacturing, allowing the GPO to be able to produce flu shots using this new technique on its own.

The GPO is expected to introduce this new product in Thailand next year, with the product fully manufactured domestically to be introduced in 2 years. The GPO and SK Bioscience also have plans to co-develop several new vaccines, including the PPV vaccine and vaccines against shingles.

 

           

Source : NATIONAL NEWS BUREAU OF THAILAND

Thailand's digital asset market is expected to grow further thanks to the efforts being made by government agencies to keep up with global trends, experts said during a roundtable discussion on Wednesday.

Brooks Entwistle, senior vice president and managing director of crypto solution provider Ripple, noted that Thailand's digital asset market had grown significantly and advised the related sectors to work together on developing a regulatory framework to allow the ecosystem to further expand.

He explained that a clear regulatory framework is necessary to earn the confidence of consumers and investors.

Ripple's policy director for Asia-Pacific, Rahul Advani, said one of the reasons behind the growth of the digital asset market in the region is the ease and convenience it has brought to international money transfers. Old-fashioned transfers are slow and expensive, especially in terms of foreign currency where losses are usually experienced in exchange rate variations.

He added that Thailand's digital asset market has grown exponentially despite the Bank of Thailand (BOT) and Securities and Exchange Commission (SEC)'s focus on consumer protection. “Thai government agencies are good partners in digital asset market development,” he said, adding that he expected the market to evolve further as government agencies openly engage in the technology.

Angela Ang, senior policy adviser of blockchain intelligence company TRM Labs, said Thailand had been among the early adopters of digital assets.

This has allowed the country to improve its regulatory framework to meet consumers’ and investors' needs, she said, adding that the country's clear regulations have helped boost confidence among consumers and investors.

Expressing the hope that Thailand's market would expand further to meet the next age of digital assets, she said compliance in this second age will be influenced by three key themes:

• Adapting regulatory and compliant approaches to decentralised finance (DeFi)
• Rise of supervisory transparency
• Moving from technical compliance to effectiveness

 

Source : THE NATION THAILAND

Thailand's business sentiment improved in June as confidence among manufacturing and non-manufacturing sectors increased, data released by the central bank showed Monday.

According to the Bank of Thailand (BOT), the country's business sentiment index (BSI) rose to 51.0 last month from 49.7 in May as most sub-indices increased, led by performance and production.

The manufacturing index rose particularly in the automotive, steel, and petroleum-related industries due to significantly higher confidence in performance and production, the BOT said in a statement.

Respondents in the hotel and restaurant sectors reported increased confidence because of the tourism recovery, whereas respondents in other non-manufacturing sectors reported roughly stable confidence, the statement said.

The reading was based on a survey of 509 respondents from large and medium-sized firms, the central bank said.

 

Source : Xinhua

"TikTok Thailand pledged more active collaboration with local Thai agencies and businesses in order to help promote Thai brands and products throughout Southeast Asia, a senior executive from the video-sharing application told a press conference on Wednesday."

The remarks came just a few weeks after TikTok chief executive Chew Shou Zi announced an ambitious billion-dollar investment to support regional businesses, particularly small and medium-sized enterprises.

Sirinit Viriyasiri, TikTok Thailand's head of business marketing, said it is still too early to tell what new partnerships or features will be added. TikTok Thailand, however, can assure Thai users that the country is a part of this massive investment.

Sirinit then gave an example of an upcoming project in which TikTok collaborated with a public agency to promote the One Tambon One Product project, which stimulates entrepreneurship at the local level.

She said that additional tools and functions will appear on TikTok Shop. Most tools will help business owners run their businesses more smoothly as well as create creative and fun content to promote products.

"Our features, such as video shopping ads, live shopping ads, and reach and frequency are helping to maintain users' good experience alongside the ‘shoppertainment’ trend," she said.

‘Shoppertainment’ is a buzzword for an online shopping trend in which users want to have fun and be entertained while searching for a product to buy, Sirinit explained.

According to TikTok, amusing content influences more than 77 percent of consumers' purchasing decisions, while two of three new buyers of a brand complete their purchase based on emotional demands.

To respond to and meaningfully connect with consumers, brands must stress shoppertainment on TikTok, Sirinit said, adding that 70 percent of consumers trust TikTok content when making purchasing decisions.

Furthermore, one-fourth of TikTok users consider buying on the TikTok Shop due to entertaining content from creators, celebrities, and brands.

Sirinit said that TikTok Shop in Thailand will be the home of a new kind of shopping culture, where a single piece of content can quickly go viral and create demand globally, and where consumers can quickly discover promotional campaigns, content linked to shopping, and access to a variety of product assortments.

"We redefine Thais' shopping experience through shoppertainment – combining TikTok's unique fun and entertaining content, followed by commerce," she said.

According to a recent study by TikTok and Boston Consulting Group, the "shoppertainment" trend will usher in a staggering US$1 trillion in business opportunities across the Asia Pacific region by 2025, with Thailand seeing $12.4 billion in growth. The study also found that 81% of Asia Pacific TikTok users admitted that video content influenced their recent purchases.

In Thailand, 97% of TikTok users took action after watching ads on TikTok during the sale season, according to Toluna's findings.

When compared to non-TikTok users, TikTok users are 3.5 times more willing to spend 10,000 - 17,600 baht during a mega sale.

Sirinit pointed out that the findings could ensure that business owners get discovered and sell their products to TikTok users.

More than 325 million consumers in Southeast Asia and more than 15 million businesses in the region use TikTok each month.

Wednesday’s press conference took place on the same day as TikTok's “Shoppertainment Summit” in Jakarta. The summit promotes TikTok's as a platform where content and commerce meet. Its tools and experiences deliver a commerce experience that is led by entertainment.

 

Source :  THE NATION THAILAND

The United States has for the first time allowed Thailand to export its pomelo to the country, as Thailand eyes more markets for its delicious fruit.

Thailand has shipped its first batch of pomelo to the United States, following a new agreement allowing the export of four pomelo varieties from Thailand to the United States.

The first batch, which included the Thong Dee, Khao Yai, Khao Namphueng, and Khao Tangkwa varieties will be featured at Sawasdee DC Thai Festival on 2-4 July in Washington DC, to celebrate the U.S. Independence Day and the Thailand-U.S. diplomatic relations. The fruit was shipped together with other Thai fruits such as mango and mangosteen, weighing 864 kilograms in total. This shipment was dispatched on 26 June.

Government Spokesman Anucha Burapachaisri said caretaker Prime Minister Gen Prayut Chan-o-cha admired this success, which helps broaden international markets for Thai produce.

The United States Department of Agriculture requires pomelo exported from Thailand to be treated with gamma irradiation at the dosage of 400 Gray for 3 hours. This process is performed at Thailand Institute of Nuclear Technology. The exported fruits are also required to be sorted and processed at authorized facilities.

Thailand is currently allowed to export 8 kinds of fruits to the United States, namely mango, lychee, longan, pineapple, mangosteen, dragonfruit, rambutan, and pomelo. The Department of Agriculture currently has a guideline to help private firms reduce cost and increase the volume of each batch of export. If successful, this guideline could be a tool for businesses to apply commercially.

 

           

Source NATIONAL NEWS BUREAU OF THAILAND

Airports of Thailand is confident that its passenger target for 2023 at 95 million will be achieved, thanks to a swift recovery in the tourism sector.

Airports of Thailand (AOT) has announced that the country is on track to hit the 95 million passenger number across all of its 6 airports this year. AOT’s Chief Executive Officer Kirati Kitmanawat said 66.38 million passengers traveled through AOT-managed airports in the first 8 months of the 2023 fiscal year, starting October 2022.

This figure reflects a 170.4% year-on-year growth, with most being international passengers at 34.31 million, representing a 635.7% expansion. The number of domestic passengers in the same period was logged at 32.06 million, showing a 61.3% growth.

The AOT has set the annual passenger number target at 95 million for 2023, and at 142 million next year, which will be comparable to the pre-pandemic level.

The AOT is expected to start trialing the new satellite concourse (SAT-1) at Bangkok Suvarnabhumi Airport this September, which will provide 216,000 extra square kilometers of passenger area. The company also reported some 2 billion baht profit in the first half of this year.

 

Source : NATIONAL NEWS BUREAU OF THAILAND

Bangkok Governor Chadchart Sittipunt has announced that the capital city is now being promoted as an ideal destination for the regional headquarters of foreign companies, emphasizing the economic potential and opportunities the city is capable of offering.

Speaking at the “Bangkok as Regional Headquarters Symposium” held at the Bangkok Art and Culture Center, Chadchart highlighted that it was the first time city executives had invited investors to discuss the establishment of regional headquarters in Bangkok. He highlighted the abundance of skilled labor seeking new career opportunities, making Bangkok a favorable labor hub for several industrialized nations, especially Japan.

The symposium, co-hosted by the BOI and the Japan External Trade Organization (JETRO Bangkok), provides Japanese investors an opportunity to explore business opportunities and challenges while presenting the Bangkok Metropolitan Administration’s policies to attract foreign companies.

Chadchart stressed that attracting talent and enhancing the workforce, along with addressing issues such as cleanliness and traffic congestion, were top priorities for Bangkok. The governor expressed the city’s readiness to support foreign investors by facilitating business operations and offering promotional privileges.

Asst Prof Kessara Thanyalakpark, an advisor to Chadchart, mentioned that Bangkok welcomed corporations of all scales and had adhered to regulations set by the Board of Investment (BOI) to ensure efficient operations for foreign companies. She added that the city’s comparatively low cost of living compared to other metropolises in the region makes it even more appealing for foreign firms to consider setting up their headquarters.

The Bangkok governor affirmed the city’s commitment to improving infrastructure and policies to create an optimal business environment for investors, announcing plans to establish One Stop Service centers to ensure a smooth transition and convenience for foreign investors and workers.

 

           

Source : Thailand Business News

The Energy Policy and Planning Office (EPPO) is laying foundations for the electric vehicle (EV) era by studying changing patterns in electricity consumption.

EPPO is cooperating with innovators and operators of EV charging stations to develop the national EV platform, EPPO director-general Wattanapong Kurovat said on Monday.

Users of the national platform will be able to locate charging stations and book charging slots, he said.

EPPO has been appointed by the national EV Board to set up between 2,000 and 4,000 fast-charging EV stations by 2030.

Preparations must also be made for electricity production to meet increased demand during the EV era, he added.

The “30@30” plan under Thailand’s EV roadmap calls for zero-emission EVs to make up 30% of all domestic vehicle production by 2030.

“In the next five to six years, electricity consumption is forecast to peak at around midnight with the spike due to the introduction of electric vehicles. We expect that 80% of electric vehicles will be charged at the homes of owners and not in public,” Wattanapong said.

To shift away from fossil fuels and meet the national goal of carbon neutrality by 2050, EPPO is also pushing ahead with plans to develop hydrogen to fuel the industrial, power and transport sectors.

It will launch the country’s first state-run hydrogen-fired power plant in Ayutthaya this year to serve as the pilot project.

The new Power Development Plan (PDP) states that 20% of all electricity production will come from hydrogen.

Currently, PTT, the Electricity Generating Authority of Thailand, Siam Cement Group, Toyota and others are drafting a white paper on this issue, he said.

Though Thailand possesses natural gas reserves, and the same pipelines can be used, the plan requires investment for new storage infrastructure, he said. The government will lead the process to commercialise hydrogen as a fuel source before involving the private sector, he added.

On electric vehicles, Wattanapong expressed confidence that the incoming government would maintain the current state promotions and incentives for manufacturers and buyers.

 

Source : THE NATION THAILAND

The first shipments arrived in Laos this week after an MoU was signed between the Vientiane Petroleum State Enterprise, SINOPEC Hong Kong, and SINOLAO on 26 May, to import fuel from China.

The MoU which was signed between the three parties laid out the principles of cooperation in importing fuel for wholesale and retail distribution in Laos.

After SINOLAO Investment Company complied with the aforementioned MoU, in coordination with Sinopec Hong Kong, the first consignment of fuel was delivered on 27 June. 

As listed in the MoU, SINOPEC Hong Kong will import and deliver various types of fuel to Laos in strict accordance with the specified quantities, listed in the contract.

On Tuesday, SINOPEC Hong Kong delivered the fuel to Vientiane State Petroleum Corporation and SINOLAO Investment at the Boten international border crossing in Luang Namtha province. 

Representatives from SINOLAO Investment Limited, SINOPEC Hong Kong, the General Department of the Army, and employees from the related organizations were present during the arrival of the first fuel tankers.

Vientiane Petroleum State Enterprise is managed by the Lao Ministry of National Security.

By: Jonathan Meadley 

Source: The Laotian Times

The Lao government has expressed an interest to attract more domestic and international investments to relieve the country’s financial woes during the ongoing 5th Ordinary Session of the 9th National Assembly Legislature.

Prime Minister Sonexay Siphandone revealed at the NA Session on Monday that the total investment value in Laos will reach LAK 159 trillion (over USD 8 million) in the first six months of this year.

Around 8,673 projects with a total value of about LAK 155 trillion (about USD 9 billion) were approved in the first five months of this year, while the SEZs drew more than 42 organizations, including Lao, foreign and joint venture companies until May.

Minister of Planning and Investment, Mr. Khamjane Vongphosy, said that the Lao government is also seeking to improve regulations and mechanisms to make investment management more effective by implementing the Law on Investment Promotion.

“We are also seeking to improve the regulations governing Public-Private Partnership investment to reduce the burden on the government’s budget,” said Mr. Khamjane.

According to the minister, the government plans to increase investment by attracting more Belt and Road Initiative projects, alongside those that could be implemented at provincial levels.

Amid pertinent challenges like soaring inflation, high levels of foreign debt, and low foreign currency reserves, the economy of Laos is anticipated to expand by 4.9% in the second half of the year. The GDP of Laos is projected to reach LAK 118 trillion (USD 6.1 billion) by the end of 2023.

By Manyphone Vongphachanh

Source: The Laotian Times 

BANDAR SERI BEGAWAN – Brunei and Australia have agreed to elevate ties to a “comprehensive partnership”, pledging to deepen cooperation in trade, investment, and maritime security.

The new partnership will also see the two countries work together in new areas including cybersecurity, food security and climate change.

His Majesty Sultan Haji Hassanal Bolkiah and Australian Prime Minister Anthony Albanese met in Canberra on Monday to formalise the process by signing a joint declaration. “The partnership offers a chance to cooperate on the net-zero transition in the region, strengthen trade ties, and deepen cooperation on defence and security,” Albanese said. “It affirms our shared support for ASEAN as the region’s central platform for open, transparent and rules-based dialogue.”

According to the Brunei government, a plan of action will be developed to chart the strategic direction of ties in the coming years.

Source: The Scoop

Read the full article here

Youth should be equipped with skills and a mindset to prepare them for the future of employment. They should also take up entrepreneurship to open up economic opportunities, said Minister of Culture, Youth and Sports Dato Seri Setia Awang Haji Nazmi bin Haji Mohamad during the 12th ASEAN Ministerial Meeting on Youth (AMMY XII) held via video conference yesterday.

He also said the Bruneian authorities have been facilitating direct engagement between policymakers and youth through dialogues, survey, town hall sessions, National Youth Congress and Brunei Young Leaders Convention

The minister said the Brunei Darussalam Mental Health Action Plan 2022-2025’s Strategy 1 emphasised on the development of work-life-balance policy for all workplaces as well as increasing whole-of-nation and community awareness on mental health issues.

Dato Seri Setia Awang Haji Nazmi also emphasised that ASEAN initiatives and programmes should work towards future-ready youth in an inclusive ecosystem. He urged stronger collaboration among agencies, partners and youth representatives to identify and address issues while also incorporating feasible policies that add value to work plans and youth programmes.

Malaysian Deputy Minister of Youth and Sports Adam Adli bin Abdul Halim chaired the meeting. ASEAN ministers responsible for youth affairs and their representatives as well as the Deputy-Secretary General of ASEAN Socio-Cultural Community (ASCC) were present.