Business
Great Wall Motors (China) to Start Production in Thailand Next Year
Chinese automobile manufacturer Great Wall Motors (GWM) is set to start operations in Thailand next year
According to Thailand’s Industry Minister Suriya Jungrungreangkit, the company will have an annual production capacity of 80,000 vehicles and will begin producing sports utility vehicles and pickup trucks in 2021.
The company plans to invest 22.6 billion baht and employ 3,435 people.
After his meeting with Zhang Jiaming, president of GWM’s ASEAN operations, Mr Suriya said GWM would improve the production lines that it had taken over within the fourth quarter of this year for the production of vehicles with internal combustion engines and electric vehicles.
China’s leading sport utility vehicle (SUV) and pickup maker Great Wall Motors purchased General Motors’ Rayong car production facility in Thailand when the American car producer ceased operations in February this year.
Based in the city of Baoding, in the Hebei province, in the north of China, the company Great Wall Motors owns several brands of SUVs and cars like Haval, Great Wall, WEY and ORA. With more than 500 branches abroad, its vehicles are exported to more than 60 countries.
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.
Business
Thailand ranked 3rd in ASEAN on Economic Freedom Index
Thailand has a business freedom index of 85.3 out of 100. This is a big improvement over last year, which helped to increase the country’s overall score to 69.7, a 0.3 point jump from last year.
Thailand ranked 3rd in ASEAN, 9th among 40 Asia-pacific countries and 42nd in the World on the most recent on Economic Freedom index. Singapore tops the list for the second consecutive year, followed by New Zealand and Australia.
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