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COVID-19 to Boost Thai Medical Industry

The University of the Thai Chamber of Commerce (UTCC) has suggested Thai entrepreneurs in the medical and technology industries to explore their opportunities during the COVID-19 situation

National News Bureau of Thailand

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BANGKOK (NNT) – Though COVID-19 has badly impacted many industries, some such as medical science and technological advancement may benefit from aspects of the crisis.

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The University of the Thai Chamber of Commerce, has suggested Thai entrepreneurs grab the opportunity to develop innovations, and some Chinese medical equipment companies are preparing to move their production bases to Thailand.

Mr. Aat Pisanwanich, Director, Center for International Trade Studies (CITS), University of the Thai Chamber of Commerce, said today a major factor affecting the thinking of foreign entrepreneurs especially Chinese businesses to open branches and production bases in Thailand, is the COVID-19 pandemic.

As it has affected the whole business cycle, business operators must consider the rise in capital costs and other risks.

Foreign entrepreneurs have also noted that Thailand has shown an ability to cope with the pandemic, while the Thai workforce has quality and the landscape facilitates transportation.

Thailand should take advantage of the COVID-19 epidemic by promoting and supporting the needs of the health industry such as rubber gloves, dietary supplements, cosmetics, medical equipment, electronic products and IT products.

However, the disadvantage is political uncertainty, wage hikes, and the strength of the Thai baht.

National News Bureau Of Thailand

Companies

AstraZeneca Approves Thailand’s Vaccine Factory

National News Bureau of Thailand

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BANGKOK (NNT) – AstraZeneca has approved safety standards at Thailand’s vaccine factory and will send the first batch of raw materials for vaccine production in June.

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Health

Skin-lightening products market to reach US$31 billion by 2024

In emerging Asian and African economies, the natural aspiration to enhance one’s circumstances has led to rapid growth in the market for skin-lightening products, which is projected to reach US$31 billion by 2024.

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Recent years have seen evolving awareness of systemic inequities including racism, sexism and pro-Western chauvinism.

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Ecommerce

Has Covid-19 prompted the Belt and Road Initiative to go green?

Oxford Business Group

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Has Covid-19 prompted the Belt and Road Initiative to go green?
– Covid-19 led to a slowdown in BRI projects
– Chinese overseas investment dropped off in 2020
– Government remains committed to the wide-ranging infrastructure programme
– Sustainability, health and digital to be the new cornerstones of the initiative 

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Following a year of coronavirus-related disruptions, China appears to be placing a greater focus on sustainable, digital and health-related projects in its flagship Belt and Road Initiative (BRI).

As OBG outlined in April last year, the onset of Covid-19 prompted questions about the future direction of the BRI.

Launched in 2013, the BRI is an ambitious international initiative that aims to revive ancient Silk Road trade routes through large-scale infrastructure development.

By the start of 2020 some 2951 BRI-linked projects – valued at a total of $3.9trn – were planned or under way across the world.

However, as borders closed and lockdowns were imposed, progress stalled on a number of major BRI infrastructure developments.

In June China’s Ministry of Foreign Affairs announced that 30-40% of BRI projects had been affected by the virus, while a further 20% had been “seriously affected”. Restrictions on the flow of Chinese workers and construction supplies were cited as factors behind project suspensions or slowdowns in Pakistan, Cambodia and Indonesia, among other countries.

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