The EAMI 2024 report, conducted by Dezan Shira & Associates, assesses the state of manufacturing in Asia. It predicts a slowdown in Thailand’s economy due to high household debt, while Indonesia is offering incentives to encourage electric vehicle production.
Insights from Emerging Asia Manufacturing Index 2024 Report
The Emerging Asia Manufacturing Index 2024 report by Dezan Shira & Associates delves into the factors shaping the manufacturing sector in countries like Indonesia, China, Vietnam, the Philippines, Thailand, India, and Bangladesh.
Economic Challenges in Thailand
According to the report, Thailand’s economic tier ranking was the lowest among the countries analyzed. The economy is projected to grow between 2.2 and 2.7 percent in 2024, attributed to a slowdown in exports, a vital component of Thailand’s economy. High household debt, amounting to 87 percent of GDP in 2023, poses further challenges.
Highlights for Indonesia in EAMI 2024
Among the highlights for Indonesia in the report is the approval for expanding the EV3.5 scheme to boost the production of electric vehicles (EVs). This includes subsidies of up to 100,000 baht per car from 2024 to 2027, aiming to support electric passenger cars, motorcycles, and pickup trucks. Companies can benefit from tax deductions on e-bus and e-truck purchases, reducing their corporate income tax burden.
Read the original article : Insights into Thailand’s Standing in the 2024 Emerging Asia Manufacturing Index
This article was first published by AseanBriefing which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in China, Hong Kong, Vietnam, Singapore, India, and Russia. Readers may write to info@dezshira.com.
