Thailand’s new financial business law expected to be approved next month
Thailand’s new financial business law designed to attract foreign funds is expected to be submitted to the Thai cabinet by early February, Deputy Finance Minister Paopoom Rojanasakul said at a press conference on Wednesday.
An aerial view of Bangkok's skyline at night. Thailand is aspiring to become a regional financial hub. Photo courtesy of bangkokpost.com.
According to Paopoom, the law will create an “one-stop authority” agency to provide services to facilitate investment and promote Thailand’s aim to become a financial center.
He said Thailand is open and ready to attract funds into the country.
Business operators targeted in the financial hub plan will receive both tax and non-tax benefits.
The target businesses are in areas of banking, payment service, securities, derivatives, digital assets, insurance, reinsurance brokerage, and related financial business.
- Read More
Google fined $12.5 mln for unfair business practices in Indonesia
Indonesia's antitrust agency, KPPU, announced on Wednesday that it has imposed a fine of IDR202.5 billion ($12.5 million) on Google for abusing its dominant market position to force local app developers to use its payment system services for the Google Play Store.
Southeast Asia - Thu, January 23, 2025 | 4:59 pm GMT+7
Indonesia extends electric motorcycle conversion incentives into 2025
Indonesia’s Ministry of Energy and Mineral Resources on Tuesday confirmed that incentives for electronic motorcycle conversion will continue in 2025 to foster the growth of the country's electric vehicle (EV) ecosystem.
Southeast Asia - Thu, January 23, 2025 | 4:57 pm GMT+7
Thai cabinet approves carbon tax to curb emissions
The Thai cabinet approved a carbon tax of THB200 ($5.9) per ton of carbon emissions on January 21, as part of the country’s strategy to reduce greenhouse gas emissions, according to Deputy Finance Minister Paopoom Rojanasakul.
Southeast Asia - Thu, January 23, 2025 | 4:55 pm GMT+7
Vietnam can lead ASEAN GDP growth in 2025 with 6.5%: research unit AMRO
Vietnam can reach an economic growth of 6.5% in 2025, leading the ASEAN bloc, according to Singapore-based ASEAN+3 Macroeconomic Research Office (AMRO).
Economy - Thu, January 23, 2025 | 4:51 pm GMT+7
Central Vietnam province, Italy’s ENI to collaborate in carbon credit generation
Vietnam’s central province of Quang Tri and Italy-invested ENI Natural Energies Vietnam have signed an MoU on carbon credit generation and agricultural feedstock.
Energy - Thu, January 23, 2025 | 3:52 pm GMT+7
Vietnam jewelry giant PNJ's gross profit margin highest in 5 years
Phu Nhuan Jewelry JSC (PNJ), a leading jewelry company in Vietnam, posted VND2.11 trillion ($84.08 million) in net profit in 2024, up 7.3% year-on-year and reaching its target.
Companies - Thu, January 23, 2025 | 3:17 pm GMT+7
HCMC's Thu Duc city approved as creative urban area with 9 sub-regions
Thu Duc city under Ho Chi Minh City will become a creative urban area with nine development sub-regions, focusing on finance, high technology, education, logistics, and culture, under a new master plan.education, logistics, and culture.
Economy - Thu, January 23, 2025 | 3:07 pm GMT+7
Vietnam conglomerate Vingroup seeks BESS development incentives
Vingroup is developing battery energy storage systems (BESS) and seeks guidance from the Ministry of Industry and Trade regarding administrative procedures, incentives, and power price calculation.
Energy - Thu, January 23, 2025 | 12:57 pm GMT+7
China firm to invest $15 mln in making batteries in northern Vietnam
China-invested Dongguan Lithium Energy Technology Co. Ltd. will invest $15 million in manufacturing batteries in Vietnam’s northern province of Hai Duong.
Industries - Thu, January 23, 2025 | 10:48 am GMT+7
Diversifying export markets, increasing production localization to offset impacts of Trump policies: RMIT lecturer
Enhancing localization of production to boost economic autonomy is a key strategy to mitigate the potential negative effects of the U.S. President Donald Trump’s trade policies, according to Dr. Ha Cam Van, a senior lecturer of economics at RMIT University Vietnam.
Economy - Thu, January 23, 2025 | 9:05 am GMT+7
Major broker SHS sees 2024 pre-tax profit exceeding target by 20%
Saigon-Hanoi Securities Corporation (SHS) reported a consolidated pre-tax profit of nearly VND1.24 trillion ($49.42 million) in 2024, surpassing the year's target by 20%, and 1.8 times higher than the 2023 figure.
Companies - Thu, January 23, 2025 | 8:28 am GMT+7
Major Vietnam private lender Techcombank intends to set up life insurance unit
Techcombank, one of Vietnam’s major private lenders, is seeking shareholders’ approval to contribute capital for establishing a life insurance subsidiary regardless of a slowdown in the bancassurance sector.
Finance - Wed, January 22, 2025 | 11:50 pm GMT+7
London-based EnQuest acquires fellow firm Harbour Energy’s Vietnam business
EnQuest, listed on the London Stock Exchange (LON) as ENQ, has acquired activities in Vietnam of fellow firm Harbour Energy (LON: HBR), the former said on Wednesday.
Energy - Wed, January 22, 2025 | 6:47 pm GMT+7
Honda, Toyota urge Vietnam to provide tax, fee incentives for cars, hybrid EVs
Honda and Toyota, based in Vietnam’s northern province of Vinh Phuc, have urged Vinh Phuc authorities to propose relevant authorities provide tax and fee incentives for automobiles and hybrid electric vehicles (EV).
Companies - Wed, January 22, 2025 | 4:14 pm GMT+7
Vietnam's leading publisher hailed for textbook price reductions
The Vietnam Education Publishing House (VEPH) achieved remarkable success in 2024, particularly in implementing synchronous solutions to reduce textbook prices, said Deputy Minister of Education and Training Pham Ngoc Thuong.
Companies - Wed, January 22, 2025 | 3:44 pm GMT+7
Schneider Electric keen to partner with Nvidia in developing data centers in Vietnam
Schneider Electric is keen to cooperate with U.S tech giant Nvidia in developing data centers in Vietnam, said Jean-Pascal Tricoire, chairman of the French industrial technology giant.
Economy - Wed, January 22, 2025 | 3:27 pm GMT+7
