Thailand Automotive Institute (TAI) anticipates the overall output from Thailand’s automotive sector this year to be around 1.4 million cars. They are, however, still cautious over automobile exports until at least March this year, due to the resurgence of COVID-19 cases around the world.
Thailand Automotive Institute‘s President Pisit Rangsaritwutikul said automobile exports from Thailand will continue to face challenges from safeguard measures implemented by some countries, such as the Philippines, which effectively limit the amount of auto imports into their countries.
This import limitation by the Philippines is expected to affect the amount of Thailand’s auto exports, as Thailand is the second largest and the largest sedan and pick up trucks to the Philippines respectively. This measure is expected to stay until 8 August, with a possibility for further extension.
According to TAI’s Next Generation Automotive Research Center, Thailand’s automotive sector produced a 19-month high of 172,455 cars in November 2020 alone, with the total output from January to November 2020 at 1,284,202.
This increase in output is a result of the recovery of domestic and export markets, with the annual output for 2021 expected to be around 1.4 million.
The TAI notes that the sector may face some uncertainties until March 2021 from the resurgence of COVID-19 cases around the world.
Thailand aims to push its games and content industry
After almost a year under the pandemic, the number of game players in Thailand rose to 32 million and helped the market generate over a billion dollars in 2020, according to NewZoo, an international analytics and market research group.
Thailand’s H1 Investment Applications rise 158% in combined value, BOI says
Japanese firms ranked first with 87 projects worth 42.8 billion baht, followed by investments from the U.S. with 18 projects worth 24.1 billion baht, and China with 63 projects worth 18.6 billion baht.
In the first six months of 2021, Thailand’s investment applications increased 14% from the year earlier period in terms of the number of projects, and 158% in combined value, led by increasing foreign direct investment (FDI) applications, sustained growth in target industries including the electronics and medical sectors, as well as in power generation, the Thailand Board of Investment (BOI) said.(more…)
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