Business
Thai Government to double sales of Thai products via Thaitrade.com
The Thai government says it will boost selling of Thai products through its official e-commerce channel, Thaitrade.com, to 10 billion baht next year from 5 billion this year.
The assurance of doubling of sales through Thailand’s official business-to-business e-marketplace, was declared by Deputy Prime Minister Somkid Jatusripitak when he delivered a keynote address, titled “Changing Thai Businesses to Online World, underlining the importance of Thaitrade.com ”
He said the government was determined to boost sales of Thai products to 10 billion baht in 2019 on the back of the launch of Thaitrade website.
Thaitrade.com is an official Thailand B2B E-Marketplace established in 2011 by Department of International Trade Promotion (DITP), Ministry of Commerce (MOC) Thailand.
The main purpose of Thaitrade platform is to enhance trade opportunity of Thai exporters under the idea of pooling most of Thai export products in one e-marketplace and to be the most effective way for our trade partners from over the world to find the required products from Thailand.
Meanwhile, Commerce Minister Sonthirat Sonthijirawong said the ministry aimed to increase the number of Thaitrade community members to 100,000 from 25,000 within three years.
He said annual sales via the platform are expected to increase to 10 billion baht from 5 billion baht by the end of next year.
Small Order OK (Thaitrade SOOK)
As changes of online shopping trends never ends, the Department of International Trade Promotion has never ceases to enhance and improve our online marketplace. The Thaitrade.com was uplifted from B2B (business to business) B2B2C (business to business to consumer) in order to facilitate purchases of small lot orders. The Thaitrade Small Order OK (Thaitrade SOOK) has expanded the scope of online services in a more comprehensive way, ranging from online payment to delivery.
Business
Thailand Approves Latest Economic Relief Package for Businesses
Some 250 billion baht (US$8 billion) was allocated for soft loans while the remaining 100 billion baht (US$3.2 billion) will go towards an ‘asset warehousing’ program whereby debtors can use their assets as loan collateral but will have the right to redeem their assets under a specific time frame.
On March 23, 2021, Thailand’s government approved its latest economic relief package, valued at 350 billion baht (US$11.2 billion), to support businesses in the country.
Business
Thailand BOI approves Biotech Projects Worth 2.4 Bln Baht ($78 million)
The biotechnology sector is part of the so-called BCG model (Bio, Circular and Green economy) which the Thai government has set as a priority to lead the post-Covid 19 recovery.
The Thailand Board of Investment (BOI) said today it has recently approved new projects in the field of advanced biotechnology, worth a combined 2.4 billion baht (around USD78 million) in investment, reflecting the increased interest of local and foreign investors in the country’s biotech sector.
The Asia-Pacific (APAC) region saw a 3.9% month-on-month growth in deal activity (mergers & acquisitions, private equity and venture financing deals) from 1,126 deals to 1,170 deals in February 2021, according to GlobalData, a leading data and analytics company.
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