Thai steel industry concerned about competition from foreign companies
The Federation of Thai Industries (FTI) has raised concerns over the potential domination of Thailand’s steel industry by Chinese companies, and called for regulatory action, reported The Nation.
![Thailand’s steel industry. Photo courtesy of nationthailand.com](https://i.ex-cdn.com/theinvestor.vn/files/content/2024/08/13/thailand-the-investor-2138.jpg)
Thailand’s steel industry. Photo courtesy of nationthailand.com
FTI Chairman Kriengkrai Thiennukul said that the steel industry’s capacity utilization rate has dropped to its lowest in seven years, with the first six months of this year seeing a rate of 29.3%, down from 31.2% in the same period last year.
He noted that the impact of Chinese investments, which are expected to boost production capacity to 12.42 million tonnes annually compared to Thailand’s demand of 16 million tonnes.
Despite this influx of Chinese investment, Kriengkrai assured that domestic manufacturers have enough production capacity to meet the country’s demand. He added that the Industry Ministry should introduce regulations to control the establishment of steel factories in Thailand.
He also raised concerns about the import of structural steel that does not meet Thai industrial standards, which could pose safety risks for consumers. He called for the introduction of stricter industrial standards to address this issue.
In 2023, Thailand imported 426,340 tonnes of structural steel worth THB 21 billion ($595.576 million), of which 92% came from China.
- Read More
Super typhoon Yagi, floods cause at least 21 deaths in northern Vietnam
Yagi that made landfall in northern Vietnam on Saturday and floods after the super typhoon have claimed at least 21 lives and left nearly 230 others injured.
Society - Sun, September 8, 2024 | 9:35 pm GMT+7
Vietnam real estate sector may start revival in H2, continue through 2026: broker
Vietnam’s real estate market could start recovering in the second half of this year and continue to revive until 2026, driven by new real estate laws and lower mortgage rates, says a report by Shinhan Securities Vietnam.
Real Estate - Sun, September 8, 2024 | 7:40 pm GMT+7
Vietnam’s 2024 credit growth target of 15% attainable: official
The State Bank of Vietnam (SBV), the country's central bank, is confident in achieving the credit growth target of 15% this year despite a sluggish start, SBV Deputy Governor Dao Minh Tu said, citing a more optimistic economic outlook.
Banking - Sun, September 8, 2024 | 4:20 pm GMT+7
Singapore firm to deploy $80 mln freeze-dried instant coffee project in central Vietnam
Future Enterprises Pte. Ltd, a subsidiary of Singapore-based Food Empire Holdings Group, has been licensed to build a freeze-dried instant coffee plant with an annual capacity of 5,400 tons in the central province of Binh Dinh.
Industries - Sun, September 8, 2024 | 1:33 pm GMT+7
Vietnam art market dominated by Vietnamese buyers a collector’s dream come true
Ten years after I wrote an article titled "Playing and buying paintings," the Vietnamese art market has evolved significantly.
Travel - Sun, September 8, 2024 | 11:04 am GMT+7
Vietnam outbound investment shrinks 64.6% to $147 mln in Jan-Aug
Outbound investment by Vietnamese companies dropped 64.6% year-on-year to $147.3 million in the first eight months of this year, according to government data.
Industries - Sun, September 8, 2024 | 9:58 am GMT+7
Super typhoon Yagi kills at least 8 in northern Vietnam
Super typhoon Yagi has claimed at least eight lives and left nearly 200 others injured after making landfall in northern Vietnam on Saturday.
Society - Sun, September 8, 2024 | 9:47 am GMT+7
Vietnamese SMEs can make products with global appeal: Amazon exec
Made-in-Vietnam products that appeal to global consumers can come from small and medium-sized enterprises (SMEs), not necessarily large companies, says Natalie Thuan Ngo, head of business development, Amazon Global Selling Vietnam.
Economy - Sun, September 8, 2024 | 7:55 am GMT+7
Super typhoon Yagi devastates Hanoi
Typhoon Yagi made landfall in Hanoi on Saturday evening, bringing powerful winds of 89-102 km per hour and heavy rainfall. The storm caused widespread flooding and downed numerous trees.
Southeast Asia - Sat, September 7, 2024 | 10:17 pm GMT+7
Vietnam finance ministry urged to seek $4 bln of bonds for strategic infrastructure development
The Vietnamese Ministry of Finance has been requested to mobilize another VND100 trillion ($4.06 billion) worth of bonds for strategic infrastructure development.
Economy - Sat, September 7, 2024 | 7:14 pm GMT+7
FTSE Russell adds three Vietnam tickers to flagship index
Global index provider FTSE Russell has added three Vietnamese stocks to its FTSE Vietnam Index, the underlying index of the FTSE Vietnam ETF.
Finance - Sat, September 7, 2024 | 5:08 pm GMT+7
PV Gas launches first LNG train on south-north railway route
PV Gas officially inaugurated its first liquefied natural gas (LNG) train shipment from the south to the north of the country on Friday, marking a milestone in Vietnam’s gas industry.
Companies - Sat, September 7, 2024 | 1:48 pm GMT+7
Vietnam's Jan-Aug CPI up 4.04%
Vietnam's consumer price index (CPI), an indicator of inflation, went up 4.04% year-on-year in the first eight months of this year, remaining unchanged in the last two months (July and August).
Economy - Sat, September 7, 2024 | 1:37 pm GMT+7
Vietnam state-run airport developer ACV has new chairman
Vu The Phiet, CEO of state-controlled Airports Corporation of Vietnam (ACV), has been named chair of the company - the operator of 22 airports across the country.
Companies - Sat, September 7, 2024 | 12:07 pm GMT+7
Super typhoon Yagi: Flash floods and landslides warnings issued for some northern Vietnam provinces
Northern Vietnam will experience heavy rainfall, with some localities receiving exceptionally heavy precipitation, from Saturday through Monday morning due to the super typhoon Yagi, according to the National Center for Hydro-Meteorological Forecasting.
Society - Sat, September 7, 2024 | 11:50 am GMT+7
SpaceX seeks to provide Starlink satellite internet services in Vietnam
U.S.-based tech giant SpaceX is ready to invest and provide its Starlink satellite internet services in Vietnam, says a senior executive, as the Southeast Asian country seeks to boost its digital economy.
Infrastructure - Sat, September 7, 2024 | 11:07 am GMT+7