Prime Minister Gen Prayut Chan-o-cha was happy and satisfied with the latest survey that ranked Thailand on the eighth place among the top 20 countries best for investment in the world by the US News.

Government spokesman Lt Gen Sansern Kaewkamnerd said the prime minister was yesterday briefed on the US News’ ranking of the ” 2018 Best Country to Invest In” which Thailand was ranked at the eighth position.

Lt Gen Sansern said the prime minister was happy and pleased with the survey which he said reflected better acceptance of the country in the international community.

Gen Prayut attributed this latest ranking result to good cooperation between the government, private sector and the general public, as well as the government’s 4.0 Strategy that was aimed to attract foreign investors to the country.

The US ranking was in line with recent ranking by World Bank that placed Thailand on the 26th position for “Ease of Doing Business” this year from 46th last year, the spokesman said.

He said the prime minister also voiced satisfaction when several countries in ASEAN, namely the Philippines, Indonesia, Malaysia and Singapore were also among the top 20 countries.

The prime minister said ASEAN has now become the magnate of foreign investors, adding that economic cooperation of ASEAN and it’s policies were on the right track to go forward together without leaving any member countries behind.

The U.S. News surveyed over 21,000 people worldwide about 80 different countries, measuring them on 65 different attributes, including cultural influence, entrepreneurship, and quality of life in its 2018 Best Countries ranking.

For the best countries to invest in ranking, U.S. News focused on just eight of the 65 attributes: entrepreneurship, economic stability, favorable tax environment, innovation, skilled labor, technological expertise, dynamism, and corruption.

Responses from over 6,000 survey participants – who act as decision makers in business around the globe – were then used to determine the ranking.

Thailand

#8 in Best Countries to Invest In

$406.8 billion gdp 68.9 million population $16,885 gdp per capita, ppp

#27 in Best Countries

Thailand, which translates to “land of the free,” is the only Southeast Asian nation that did not encounter European colonization. Located just above the equator, the nation is wedged into the Indochina peninsula with neighbors Myanmar, Laos and Cambodia and has an arm that extends out to Malaysia.

Originally known as Siam, the kingdom was unified in the mid-14th century and became a constitutional monarchy in 1932 after a non-violent revolution. Recurring coups have since escalated into large-scale political turmoil spurred by party division and…

Source link : Thailand ranked on the eighth place among the top 20 countries best for investment by Headline Editor

Bangkok’s real estate market has witnessed tremendous growth over the last five years. Since 2013, more than 300,000 new condo units have been launched, 1.3 million square metres of new retail space has opened and nearly 800,000 sqm of new office space has completed, not to mention healthy growth in the hospitality and logistics sectors.

In 2018, the underlying drivers of the recent growth cycle are changing and creating new challenges for the market’s leading players. Property consultancy JLL reveals some of the trends that are shaping the Bangkok real estate market this year.

Andrew Gulbrandson, Head of Research at JLL, says “Rapidly rising land costs continue to represent a significant challenge for the market today. The recent annual increases around the market of 10-15% per year are pushing developers in new directions.”

With only a handful of exceptions, it is no longer financially feasible to acquire new freehold land in the city centre for office, hospitality or retail uses. As a result, many investors are seeking opportunities to secure long-term leases for new commercial and hospitality development.

“Asides from rising land costs, there are numerous other challenges facing investors in certain market sectors, one of which is intensifying competition. To ensure success, and indeed the happiness of shareholders in many cases, market leaders are taking a variety of steps as they pursue growth objectives,” says Mr. Gulbrandson.

He explains that while the trend of residential developers moving to higher priced products that target both local and foreign buyers with higher liquidity exemplifies the case well, the most prolific growth strategy being adopted by local players is entering into joint venture (JV) partnerships, in many cases with foreign investors.

According to JLL’s Thailand Property Intelligence Centre, the total value of JV investment has exceeded THB 570 billion since 2013. Entering into such partnerships allows both parties to mutually benefit by diversifying risk and by sharing knowledge and technical resources. Similarly, there has been a substantial wave of new merger and acquisition (M&A) activity in recent years, a total of THB 170 billion since 2013, according to JLL data.

Aside from JV and M&A activity, many leading domestic residential developers are actively sourcing new opportunities in non-core market sectors. Examples include Ananda Development launching several new hospitality projects, Origin Property looking to enter both the serviced apartment and office markets, Major Development and Raimon Land announcing noteworthy investments in the office market.

A few bold market leaders including Ananda, Sansiri and Central Pattana (CPN) are making…

Source link : What’s in store for Bangkok real estate in 2018? by Daniel Lorenzzo

China’s outbound travel market raked up 130 million trips in 2017, a 7% increase on 122 million trips recorded in 2016.

Thailand and Japan continue to be the two hottest outbound destinations according to Ctrip(Nasdaq: CTRP), the largest online travel agent in Asia and the second largest in the world.

But with more flight connections, better exchange rates and fewer visa restrictions, destinations such as Morocco, Turkey and Tunisia are seeing a huge growth in visitors from China.

Ctrip released the “2017 China Outbound Tourism Travel Report” alongside China Tourism Academy (CTA), a specialized institute under China National Tourism Administration (CNTA).

The number of outbound trips has reached 130 million in 2017, up 7.0% from 122 million in 2016. An estimated 115.29 billion USD was spent during 2017, a year-on-year increase of 5%.

Chinese travelers are becoming increasingly focused on their well-being and the purpose for making outbound trips has changed from sightseeing and shopping to enjoying high-quality services.

According to Ctrip statistics, Ctrip’s tailor-made travel and local guide platform has served millions of tourists in 2017. Such personalized trips designed by Ctrip travel planners are becoming a popular option for Chinese travelers.

Recognised as the biggest travel agency in Asia, Ctrip  estimated China’s outbound travel represented USD 115.29 billion in travel spend, a year-on-year increase of 5%.

According to Ctrip statistics, Ctrip’s tailor-made travel and local guide platform has served millions of tourists in 2017. Such personalised trips designed by Ctrip’s travel planners are becoming a popular option for Chinese travellers.

Chinese travelers have greater demand for assistance throughout their trip and are more focused on safety. Ctrip’s “Global SOS” service provides 24/7 emergency responses and support for our ever growing travelers. 2017 saw a total of 2191 SOS cases from which 82% were for outbound travel. With a 94% success rate, it has since been widely accepted by our users.

The growth story has been running for a number of years and the long-term trend shows no indication of slowing. According to the Chinese National Tourism Administration (CNTA), outbound travel has grown 270% since 2008 and it is forecast to reach 200 million departures by 2020.

Expenditure by Chinese tourists has grown even more strongly. From 2008, it has grown 730%. The management consultancy McKinsey estimates that Chinese spending on luxury goods has been growing at 9% per annum, whereas the average for the rest of the world has been growth at 3% per annum.

In terms of outbound travelers, Beijing, Shanghai, Suzhou and Wenzhou spent the most. Lesser well–known cities are seeing…

Source link : China’s outbound trips increase 7% to reach 130 million by Rithy Chey

Last week, the Bank of Thailand (BOT) published data showing a surge in the use of mobile and internet banking in Thailand.

Thai consumers’ rising preference for digital transactions is credit positive and demonstrates the initial success of Thai banks’ digital strategies, which eventually will allow banks to rationalize their branch networks and improve cost efficiency.

Mobile banking transactions is increasing rapidly

Over time, the widespread use of digital banking channels also will allow banks to increase revenue by expanding their product offerings via digital banking channels beyond current transactional products.

The volume of internet and mobile banking transactions continues to expand at a rapid pace (see Exhibit 1) as both internet and mobile penetration improve in Thailand.

Mobile and internet banking accounted for 33% of total payment transaction volume for the first nine months of 2017, a marked increase from 8% in 2010.

In value terms, mobile and internet banking accounted for THB23.4 trillion in the first nine months of 2017, a 22% compounded annual increase in value since 2010.

Thailand’s banks’ increasing focus on digital strategies

Thailand’s increased usage of digital banking channels since 2015 reflects banks’ increasing focus on digital strategies.

Kasikornbank Public Company Limited (KBank, Baa1 stable, baa21 ) in 2014 began investing around THB480 million annually to enhance its digital banking services. As of year-end 2017, KBank had 7.3 million users on its mobile banking channel, recording around 3 billion transactions during the year, a tenfold increase from 2014.

This year, Bank of Ayudhya (BAY, Baa1 stable, ba1) said that it would invest THB20 billion to develop its technology infrastructure and digital banking platform.

Siam Commercial Bank Public Company Limited (SCB, Baa1 stable, baa2) last year planned to invest THB40 billion to enhance its digital banking capability. We expect the volume of digital banking channel transactions to continue increasing.

The shift to online transactions provides Thai banks an opportunity to rationalize their branch networks, thereby extracting operational cost efficiencies.

Exhibit 3 shows the number of commercial bank branches decreasing to 6,826 as of 30 September 2017 from a peak of 7,061 branches as of 30 December 2015.

Concomitantly, the banks’ annualized cost-to-income ratios declined to less than 52% as of the end of September 2017 from 54% in 2015. In January, SCB announced plans to reduce its traditional branches to 400 from 1,153 by 2020, while BAY said it will transform half of its traditional branches into digital or hybrid-digital platforms. BAY expects its investment in IT to result in a 10%-15%…

Source link : Thailand’s increasing mobile and internet banking payments transactions are credit positive for banks by Pr News

On 30 January 2018, a Washington Post op-ed penned by Victor Cha confirmed that he was no longer under consideration to be appointed as US ambassador to South Korea. The story behind the event is telling.

The Trump administration waited around a year to appoint an ambassador to South Korea, asked Seoul to speed up the approval process once it had, and then passed over the nominee and let Seoul learn about it through the media.

All the while it was pushing for renegotiation of the Korea–US Free Trade Agreement, was exacerbating tensions with North Korea and was building narratives for a war that would in all likelihood see South Korea devastated.

The event was a diplomatic fiasco

How did US diplomacy get to this stage?

It is too easy to blame Trump. He is indeed cultivating a hollowed-out, weakened and directionless US State Department. US ambassadorial posts across the globe and senior positions in the Department remain vacant.

Recently retired employees condemn the administration’s policies, long-serving employees are leaving in record numbers and recruitment has slowed. But there are also trends and developments independent of Trump that have contributed to this sorry state of affairs.

First, while foreign policy decision making has always rested with the executive branch of government, the executive is taking an ever greater role in the actual implementation of foreign policy (useful examples are US President Richard Nixon in China or Australian Prime Minister Paul Keating in Indonesia).

Since the 19th century, communications and transportation technologies (such as the telegraph, submarine cables, radio, air travel, satellite communications and the internet) have steadily eroded the plenipotentiary powers of diplomatic agents.

At the same time, these technologies are increasing the impact of global affairs on domestic events, which justifies executive responsibility playing a larger and more direct role in diplomatic affairs.

The influence of social media and Trump’s egocentric leadership style have greatly accelerated this trend. When asked about unfilled positions in the US State Department, Trump famously responded: ‘I’m the only one that matters’.

There are benefits to a stronger executive role in external affairs. It reduces the gap between decision making and implementation, and thus it conceivably increases efficiency. There are also drawbacks.

Politicians benefit from displays of emotion, exuberance and pride, while an ideal diplomat should be calm, tempered and reserved. These are conflicting modes of behaviour that make politicians poor diplomats and vice versa.

Second, the age of the ‘generalist’ diplomat has passed. Foreign ministries traditionally served as the…

Source link : US diplomatic demolition not here to stay by Jeffrey Robertson

International tourists who are familiar with Thailand are likely to have opted to visit popular destinations such as Bangkok, Pattaya and Phuket but Thailand is a vast, variegated land that rewards further exploration.

Northern Thailand is one of the most alluring destinations outside of Bangkok as this region offers a staggering range of amazing destinations.

The rolling hills, sweeping mountains, lush green forests and nature, and rich melting pot of cultures make northern Thailand one of the most engaging places to visit.

At the end of 2016, the tourism revenue of northern Thailand stood at 158 billion baht, with 72% coming from domestic tourists and 28% from international ones. Average expenditure among tourists in 2016 was 2,593 baht per person per day. Therefore, the tourism sector has been one of the major driving forces of the North’s economic development.

Northern Thailand is cooler than the rest of the usually sweltering country and thus particularly popular between November and February. The temperature can get really cool in this region in this period, especially in the mountains, where tourists can experience the beauty of mist and winter flowers.

In addition, many small villages are filled with locals who live life far differently to Thais in big cities. The culture of this region has been inspired by Lanna, Karen and other indigenous ethnic groups, providing tourists with a noticeably friendly and vibrant atmosphere. Trekking tours to the hill tribes, such as the Mae Sariang, can offer a unique, memorable experience for intrepid explorers.

Given that northern Thailand also shares borders with Myanmar and Laos, it is possible for tourists and visitors to see these borders, such as at the Golden Triangle, which is the meeting point of Thailand, Laos and Myanmar on the confluence of the Mekong River.

For those who want to opt for religious destinations, northern Thailand contains a wealth of Buddhist temples built in various architectural styles including Lanna Thai, which dates back to the era of the Lanna Thai Kingdom.

Wat Phra Singh in Chiang Mai is one of the many magnificent temples in the region that boasts Lanna Thai architecture. In overall, although northern Thailand is landlocked and mountainous, the region still tops the list of favourite tourist destinations.

It is, however, important to highlight that many tourists choose to visit the region between November and February to enjoy the cool weather. For example, in the case of Chiang Mai between 2003-2007, July to August and October to February were the popular seasons for tourism in Chiang Mai, with the seasonal index exceeding 100, and the index peaking in around December.

In the case of Chiang Rai, using tourist…

Source link : Unlocking northern Thailand’s tourism sustainability by Headline Editor

In the English-language realm, The Bangkok Post and The Nation have both been facing financial issues. In a future without these mastheads, how would anyone in the outside world have a clue about what is going on in Thailand?

“Journalism today is dying because no one has really figured out to support it in a winner-take-all capitalist system,” a columnist for The Guardian in London recently observed. His own newspaper has just reformatted as a tabloid to save money.

Last July, the Buenos Aires Herald, an English weekly with a remaining circulation of just 20,000, shuttered after 141 years in print.

These are stories are being repeated all over the world, but Thailand seems to still be slightly behind the curve when it comes to newspapers dying. Thai magazines, however, are already vanishing at an alarming rate, including glossies and literary titles that were once household names.

To stay profitable, online publishers are constantly challenged with making their advertisers happy – not only with traditional display ads, but also with creative sponsored content, byline articles and videos.

To further entice advertisers, online publishers find themselves digging deep into behavioural data to provide their clients with meaningful analytics to justify their advertising costs.

When  the Internet started in the print media business most Thai medias thought that investing in a TV channel was the solution. But actually we all made the same mistake and eventually released it was not. Most of them ended losing money because the advertising business on TV did not compensate the high costs of the broadcasting license.

said Pichai Chuensuksawadi, former Bangkok Post editor in chief, and current board member World Association of Newspapers, during a panel discussion held at the FCCT in February.

At the same time the current conditions under the strict censorship of the NCPO are also impacting the media revenue.

Would online products ever be able to fill the gap. Correspondents, something of an endangered species themselves, would certainly not be able to compensate; and international news agencies are also facing challenging times and simply don’t have the resources. The venerable Associated Press, for example, grew great on newspaper clients that today are going bust or already gone.

We have been shut down twice by the government censorship and the last time for one month and we lost 15 million baht in revenue

said Pinpaka Ngamsom, senior online editor, Voice TV

Social media has become the news boy on the corner – shouting out headlines and getting readers’ attention.

The media crisis is largely a self inflicted wound. We don’t make sense because too often we don’t deliver the truth. What is about to…

Source link : Traditional and online media challenges: The crisis in Thailand’s Fourth Estate by Olivier Languepin

When the Sino-Vietnamese war ended on March 16, 1979, it was hardly a definite resolution of the conflict.

Both sides claimed victory, and Vietnam continued to pressure China’s allies in Cambodia and Thailand. As a result, the PLA continued to apply pressure to Vietnam by launching attacks across the Vietnamese border throughout the 1980s.

While casualties were small relative to the tens of thousands who died during the 1979 war, the regimental and divisional scale operations across the border incurred significant casualties on both sides.

Thanks to Vietnam.

Chinese operations against Vietnam in the 1980s are often divided into four phases. In the first, the Chinese and Vietnamese further entrenched their positions along the border. This lasted until 1981.

The second and third phase consisted of escalating offensive operations across the border from 1981 to 1987, gradually increasing in intensity. The last phase involved the PLA’s withdrawal from the border region.

The political objectives of the Chinese incursions were to “punish” Vietnam for its continued belligerence towards Thailand and Cambodia. Since Vietnamese troops were going into Cambodia, Chinese troops would continue to do the same. Militarily, China saw the border conflict as a way to evolve the PLA from an antiquated fighting force to a modern one, by testing new doctrines and equipment on the border.

Charlie Gao

Security, Asia

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Source link : This War Turned China Into a Military Superpower by Headline Editor