FTI fears China-US trade war will flood Thailand with Chinese products

10 Sept 10:39 Key points summarised by AI

The Federation of Thai Industries (FTI) warns that the escalating China-US trade war will result in a surge of surplus, cheaper Chinese products entering the Thai market, severely impacting local manufacturers.
Chinese products are up to 40% cheaper due to lower production costs and advanced technology, making them highly attractive to Thai consumers and threatening the viability of Thai SMEs.
The Thai private sector urges the government to implement anti-dumping measures, import duties, or tariffs to protect domestic industries from the anticipated influx.
Local manufacturers are advised to adapt strategies by focusing on quality, eco-friendly materials, technology, innovation, and improved after-sales services to compete effectively.
An FTI survey of CEOs confirms these fears, with a majority expecting Chinese products to gain market share due to price and technology advantages, and advocating for quality improvements by Thai producers.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.