The Federation of Thai Industry (FTI) has reduced its car production target for 2023 to 1.9 million units from 1.95 million units set at the beginning of the year, due to a drop in domestic vehicle sales and an increase in electric vehicle (EV) imports from China.
Bangkok (VNA) - The Federation of ThaiIndustry (FTI) has reduced its car production target for 2023 to 1.9 millionunits fromဣ 1.95 million units set at the beginning of the year, due to a dropin domestic vehicle sales and an increase in electric vehicle (EV) imports from𓄧China.
Surapong Paisitpatanapong, vice-chairman of the FTI andspokesman for the FTI's Automotive Industry Club said they expect carmanufacturing for the domestic market to decrease by 50,000 units, or 5.5%, to850,000 units, compared with the previous projection of 900,000 units. However, the clubmaintains its production target for export at 1.05 million units. Auto sales in Thailand have recently declined as financialinstitutions impose stricter criteria for granting auto loans. Rising interestrates and very high household debt, currently at 90% of Gross Domestic Product(GDP), are causing concerns among financial institutions regardingnon-performing loans, Surapong said. The Bank of Thailand has increased its policy rate six timessince August 2022, from 0.5% to 2%. According to local media, the centralbank's Monetary Policy Committee is expected to raise its policy rate from0.25% to 2.25% to curb inflation. Meanwhile, Surapong said that Chinese electric vehicles havegained more market share thanks to the preferential policies of the Thaigovernment to promote the electric vehicle industry. Thailand's total car production in June increased by 1.78%year-on-year to 145,557 units. The number increasedby 5.91% year-on-year to 921,512 units in the first six months of 2023, according to the club. Car sales in the domestic market decreased by 5.1%year-on-year to 64,440 units in June mainly because of a drop in pickup andtruck sales, following the stricter loan granting criteria./.
The Tourism Authority of Thailand (TAT) has revealed a plan to boost its revenue from foreign tourists and the “Thais Travelling in Thailand” campaign.
The Joint Trade Committee of Thailand and Malaysia will hold discussions at the end of this year to strengthen bilateral trade cooperation, deputy spokesperson of the Thai Government Rachada Dhnadirek has said.
Laos plans to start using QR code transactions with neighbouring countries – Vietnam, Thailand and Cambodia – from the fourth quarter of this year, according to Lao media.
Thailand's finance ministry has lowered the country's economic growth projection for 2023 to 3.5 % from the previous forecast of 3.6% despite a strong recovery in tourism.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Talking to the Vietnam News Agency on the occasion of the 100th anniversary of the Vietnam’s Revolutionary Press Day (June 21, 1925–2025), Nikulina, who is also a veteran journalist of Russia’s Sputnik News, emphasised the vital role of mainstream journalism in defending the truth and maintaining public trust.
Illustrative photo (Photo: aseanbriefing.com) 
