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BOI expects mega trade fairs to generate Bt7 billion in sales

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BOI expects mega trade fairs to generate Bt7 billion in sales

By THE NATION

 

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The Board of Investment (BOI) has organised the Subcon Thailand and Intermach 2020 exhibitions from August 23 to 26 at Bitec Bang Na to lure industrial investors, especially those in automation systems and robotics.

 

“The exhibitions are being jointly organised by the BOI and our partner, Informa Markets,” said Sonklin Ploymee, director of the BOI’s Industrial Linkage Development Division.

 

“The fairs will be the year’s largest for subcontractors, entrepreneurs and industrial investors in the Southeast Asian region. More than 200 manufacturers of metal, plastic and rubber components, automotive parts and electronic parts from around the world will join in the fairs to meet directly with buyers and investors to discuss business opportunities,” Sonklin said.

 

She said that due to the Covid-19 situation, the BOI estimated that the fairs would generate sales of around Bt7 billion from 4,000 business match-ups.

 

“We have cut down the target in line with the country’s manufacturing capability, which is currently at around 50 per cent due to the Covid-19 impact.

 

“The prices of automation systems and robots imported from China have gone down considerably, which should increase the chance of small and medium-sized operators gaining access to these technologies to improve their production, especially in the automotive and electronics industries that would benefit greatly from robotic labour,” she added.

 

Meanwhile, Thailand Subcontracting Promotion Association president Kiattisak Jirakhajornwong said the virus has impacted more than 500 member companies and 50,000 workers due to a sharp drop in manufacturing orders from automakers such as Toyota and Nissan. Many subcontractors have opted to pay 75 per cent of wages to employees to keep their businesses afloat.

 

“However, the association has advised its members to switch to making products seeing high demand, such as medical equipment, rail systems, electrical vehicles and aircraft components for the air force,” Kiattisak said.

 

“We would like to urge the government to provide more soft loans to SMEs and let them take part in official procurement projects, despite them offering higher prices than foreign companies, to help the overall domestic economy,” he added.

 

Source: https://www.nationthailand.com/news/30392856

 

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-- © Copyright The Nation Thailand 2020-08-12
 
 

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how can it be, nobody is allowed to enter, do they mean domestic investors 555

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At least Thailand has no ill will against the Chinese.  They want to buy Chinese automation equipment.  The ROW might have a few qualms, though...

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7 hours ago, webfact said:

BOI expects mega trade fairs to generate Bt7 billion in sales

These guys seem to come up with more ideas for sales and new growth than Willy Wonka does sweets ! 

willy-wonka.jpg

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With an overpriced currency, Thailand can and should produce products for the domestic market.  No way they can export any significant amounts.

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38 minutes ago, Isaan sailor said:

With an overpriced currency, Thailand can and should produce products for the domestic market.  No way they can export any significant amounts.

 

Stuck back in the USA now, I'm surprised how many items I buy that are made in Thailand.  Like hard drives, and my Nikon camera.  When (for example) a smartphone costs $100 to build and sells for $1,000, a swing in the forex rates isn't going to be the deciding factor, especially when it's so difficult to cross borders now to shift production. 

 

In fact, as the trade war heats up, I expect more products marked "Made in Thailand", whether they're actually made there, or just repackaged there to dodge import duties...

 

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9 hours ago, webfact said:

 

Been a few times myself when I still had the import business in Oz.  Intermach is pretty much foreign products for sale in Thailand but I did do a good deal for welders by talking to a Chinese company who had a booth several years back.  The Thai companies I did talk to didn't seem interested in doing business with a small business like mine.  🤔

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9 hours ago, Mavideol said:

how can it be, nobody is allowed to enter, do they mean domestic investors 555

Isn't there an easier entry mechanism for business travellers? Sure I read that somewhere but could be wrong.

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5 hours ago, Isaan sailor said:

At least Thailand has no ill will against the Chinese.  They want to buy Chinese automation equipment.  The ROW might have a few qualms, though...

Agreed but automation here will only sustain limited numbers of jobs. The way of the world will be automation going forward. Roll on Basic Universal Income for all humans and let the robots do the work. I think there is something fundamentally wrong with this idea but time will tell.

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59 minutes ago, impulse said:

 

Stuck back in the USA now, I'm surprised how many items I buy that are made in Thailand.  Like hard drives, and my Nikon camera.  When (for example) a smartphone costs $100 to build and sells for $1,000, a swing in the forex rates isn't going to be the deciding factor, especially when it's so difficult to cross borders now to shift production. 

 

In fact, as the trade war heats up, I expect more products marked "Made in Thailand", whether they're actually made there, or just repackaged there to dodge import duties...

 

Good point. I think there used to actually be more stuff made here in Thailand. Now it may simply be "assembled" here or rebadged before export to markets in the west to avoid tariffs and sanctions  

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BOI oh BOI boycott the Chinese and their robots 🤔 

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20 hours ago, trainman34014 said:

''Thailand Expects''   Now where have i seen that before ?

Cabinet members discussing kickbacks?

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