Thai government urged to tighten oversight on e-commerce
The government of Thailand is intensifying its oversight of foreign e-commerce platforms, with Prime Minister Srettha Thavisin instructing the Revenue Department and the Ministry of Digital Economy and Society to ensure that the Chinese online retailer Temu adheres to Thai laws and tax regulations.
This comes amid concerns from local businesses about the potential market disruption caused by the influx of low-priced Chinese goods, especially those offered by Temu with discounts as steep as 90%.
According to the PM, all companies operating within Thailand, including foreign e-commerce giants, are required to comply with the country's tax obligations. The government's focus is on safeguarding local small and medium-sized enterprises (SMEs) from unfair competition. In response to these challenges, discussions are underway to implement stricter import controls and potentially introduce a value-added tax on imported goods priced below 1,500 baht to level the playing field for Thai businesses.
Thai E-commerce Association Honorary President Pawoot Pongvitayapanu also voiced concerns on the issue, urging the government to take decisive action against illegal cross-border products to protect the interests of Thai SMEs as they navigate the challenges of a rapidly evolving digital marketplace.
- Read More
$39 mln central Vietnam software park gets resumption greenlight after two-year hiatus
An expanded software park valued at nearly VND1 trillion ($39.3 million) in the central city of Danang will come on stream again after a standstill period of more than two years.
Infrastructure - Wed, October 23, 2024 | 4:29 pm GMT+7
Northern Vietnam province okays 2 tech projects worth $83 mln from China
Vietnam’s northern province of Bac Giang has granted investment certificates to two projects worth $83 million in total, invested by Chinese businesses for the production of solar panel components and batteries.
Industries - Wed, October 23, 2024 | 4:21 pm GMT+7
Dollar continues strengthening versus Vietnamese dong
The U.S. dollar continued to appreciate against the Vietnamese dong on Wednesday amid rising domestic forex demand and the greenback’s strengthening on global markets.
Banking - Wed, October 23, 2024 | 4:06 pm GMT+7
Vietnam allows 20% offtake from self-use rooftop solar power installations
Vietnam has officially permitted excess output from rooftop solar power systems to be connected to the national grid at no more than 20% of installed capacity.
Energy - Wed, October 23, 2024 | 3:01 pm GMT+7
HCMC can’t ensure food safety on its own: Vissan exec
Ho Chi Minh City cannot ensure food safety with unilateral traceability measures because unsafe products will continue to enter it from other regions, says Nguyen Phuc Khoa, chairman of Vietnam Livestock Industry Corporation (Vissan).
Companies - Wed, October 23, 2024 | 2:38 pm GMT+7
A tale of two trends in Vietnam: Digital transformation and net zero transition
Climate change, which is a severe challenge to Vietnam, also represents a huge opportunity for the country and its corporate sector, writes Tim Evans, CEO of HSBC Vietnam, in the era of booming digitalization.
Consulting - Wed, October 23, 2024 | 2:05 pm GMT+7
IMF revises down Vietnam’s 2025 GDP growth to 6.1%
Vietnam’s GDP growth can reach 6.1% in 2024 and 2025, according to the International Monetary Fund's (IMF) October edition of its World Economic Outlook report, released on Tuesday.
Economy - Wed, October 23, 2024 | 12:10 pm GMT+7
Carlsberg Vietnam aims for net zero carbon emissions in production by 2028
Andrew Khan, managing director of Carlsberg Vietnam, has reiterated the brewer’s commitment to sustainable development at the Nordic Day - the Green Economy Forum & Exhibition (GEFE) 2024 in Ho Chi Minh City, with a pledge to achieve net zero carbon emissions in production by 2028.
Companies - Wed, October 23, 2024 | 10:55 am GMT+7
Germany’s PNE ready to deploy $4.6 bln offshore wind power project in central Vietnam: CEO
Germany-based wind energy developer PNE AG has already made all necessary preparations to deploy the $4.6-billion Hon Trau offshore wind power project in Vietnam’s central coastal province of Binh Dinh.
Energy - Wed, October 23, 2024 | 10:19 am GMT+7
EV maker VinFast issues this year's second bond batch worth $157.5 mln in Vietnam
Hai Phong city-based electric vehicle (EV) manufacturer VinFast has raised another VND4 trillion ($157.45 million) worth of bonds in Vietnam as the company needs capital for its ambitious expansion plan.
Companies - Wed, October 23, 2024 | 9:40 am GMT+7
Indonesia boosts solar power development
Indonesia's Institute for Essential Services Reform (IESR) announced on Monday that the country’s installed solar power capacity has surpassed 700 MW. However, further acceleration is needed to meet global climate targets.
Southeast Asia - Wed, October 23, 2024 | 8:15 am GMT+7
Indonesia plans three programs to become developed nation
The Indonesian Ministry of Trade is set to carry out three key programs aimed at transforming Indonesia into a developed country.
Southeast Asia - Wed, October 23, 2024 | 8:12 am GMT+7
Malaysia to focus on inclusivity, stability as ASEAN chair in 2025
Malaysia, as ASEAN Chair in 2025, is committed to building strategic trust among member nations through dialogue, diplomacy, and goodwill, according to its Foreign Minister Mohamad Hasan.
Southeast Asia - Wed, October 23, 2024 | 8:10 am GMT+7
Thailand taps into tourism potential of national parks
Thai Department of National Parks, Wildlife, and Plant Conservation's (DNP) income has increased by almost 50% to THB2.2 billion ($66.36 million) in the fiscal year 2024.
Southeast Asia - Wed, October 23, 2024 | 8:08 am GMT+7
Malaysia plans to increase investment in waste-to-energy production
Malaysia’s Ministry of Plantation and Commodities on Tuesday proposed investing in new technologies and infrastructure to more efficiently convert waste from palm oil production into biomass energy.
Southeast Asia - Wed, October 23, 2024 | 8:05 am GMT+7
Investment applications to Thailand skyrocket
The Thailand Board of Investment (BoI) announced on Monday that investment applications in Thailand surged by 42% in the Jan-Sept period compared to the same period last year, led by electronics manufacturing and data center projects.
Southeast Asia - Wed, October 23, 2024 | 8:02 am GMT+7