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China to cooperate on economic crisis

WASHINGTON – US President Barack Obama and China’s Foreign Minister Yang Jiechi agreed Thursday their two nations would cooperate “closely and urgently” on combating the global economic crisis, the White House said.

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WASHINGTON – US President Barack Obama and China’s Foreign Minister Yang Jiechi agreed Thursday their two nations would cooperate “closely and urgently” on combating the global economic crisis, the White House said.

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China to cooperate on economic crisis

Infrastructure services, if quickly improved, could promote a better investment climate in Thailand

The approved Financial Institution Business Act (FIBA) facilitates increase in foreign ownership in Thai foreign institutions. The Financial Institution Business Act (FIBA) became effective on 3 August 2008 as planned. The FIBA allows financial institutions to raise the foreign limit from 25 percent to 49 percent with permission from the BOT and foreign investors may own more than 49 percent equity stake in Thai banks with permission from the Ministry of Finance and recommendation by the BOT. The increase in foreign limit would encourage Thai banks to seek foreign strategic partners to strengthen the capital base, improve core banking business, IT platform, know-how and add inorganic growth to Thai banks.

US President Barack Obama and China's Foreign Minister Yang Jiechi agreed Thursday their two nations would cooperate "closely and urgently"
US President Barack Obama and China’s Foreign Minister Yang Jiechi agreed Thursday their two nations would cooperate “closely and urgently”

Import tariffs on machinery are waived for regional operating headquarters. The Board of Investment cancels import tariffs on machinery used in conducting research and development activities by regional operating headquarters (ROHs). This is in addition to the existing privileges such as a permission to own land and remit foreign currency abroad as well as preferential corporate and income tax rates. Looking forward, related agencies such as the Revenue Department, the Bank of Thailand, and the Department of Business Development plan to streamline other rules and regulations that help to promote ROHs in Thailand.

External stability in Thailand was upheld by high international reserves, while trade and current account were close to balance. Regarding internal stability, inflation rose from last year in line with higher oil prices, despite a downward trend during the second half of the year. Unemployment rate remained low in Thailand in 2008 but employment started to deteriorate in the forth quarter, particularly in the production sector affected by economic slowdown.

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Asean

China Sustains Huge Ecommerce Development Investment Flows into ASEAN

What Asia Investment Research showed us that there were China outbound investments into several ASEAN markets, led by Singapore, and followed by Indonesia, Malaysia, Thailand, and the Philippines. Collectively, these markets saw circa 30 investments n Q3, or about 15 percent of total Chinese outbound volume. 

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ASEAN Inbound Investments from China show strong trends in developing digital trade infrastructure.

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Tourism

Chinese travellers name Thailand their ‘Recommended Travel Destination of the Year’

Thailand was the only outbound tourist destination receiving the award at the presentation ceremony in Shanghai. China is among the 63 approved countries and territories from where travellers can visit Thailand under quarantine-free entry requirements introduced on 1 November, 2021.

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Thailand has won the ‘Recommended Travel Destination of the Year’ award at the 2021 City Travel Hotel Awards organised by the Chinese magazine City Travel.

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