#thailand board of investments

[phuket-solicitors]

Thailand Board of Investment

The Thailand Board of Investment (BOI), established in 1966, serves as a vital gateway for foreign businesses seeking to invest and establish a foothold in the Southeast Asian nation. Acting as a one-stop shop, the BOI offers a range of incentives and support mechanisms to make Thailand an attractive and competitive investment destination.

Who Benefits from the BOI?

The BOI's programs target a broad spectrum of foreign investors, including:

Manufacturers: Companies engaged in the production of goods, particularly those aligned with Thailand's focus industries (like automotive, electronics, and food processing).

Technology Companies: Businesses involved in areas like software development, biotechnology, and digital innovation are highly encouraged.

Service Providers: The BOI welcomes foreign companies offering services in sectors like healthcare, tourism, and logistics.

What Incentives Does the BOI Offer?

The BOI provides a compelling package of incentives to attract foreign investment. These benefits can include:

Corporate Income Tax Exemptions: Partial or complete exemption from corporate income tax for a set period.

Import Duty Exemptions: Reduced or waived import duties on machinery, raw materials, and technology crucial for business operations.

Tax Breaks on Investment Costs: Incentives to encourage investment in research and development, infrastructure development, and employee training.

Simplified Business Registration: The BOI streamlines the business registration process for promoted companies.

Work Permit Facilitation: Assistance in obtaining work permits for foreign skilled workers needed for the project.

Focus Industries and Thailand's Development Goals

The BOI's promotional programs strategically align with Thailand's national development goals. By prioritizing industries like advanced manufacturing, digital technology, and environmentally friendly practices, the BOI aims to:

Drive Economic Growth: Attract foreign investment that fosters job creation and boosts Thailand's export capabilities.

Enhance Technological Advancement: Encourage technology transfer and innovation to elevate Thailand's industrial competitiveness.

Promote Sustainable Development: Support businesses that implement environmentally responsible practices and contribute to a greener future for Thailand.

How to Apply for BOI Promotion

Foreign businesses can apply for BOI promotion by submitting a detailed proposal outlining their investment project, including the nature of the business, target market, and projected economic benefits to Thailand. The BOI provides clear guidelines and application procedures on their website https://www.boi.go.th/en/index/.

Investing in Thailand's Future

The Thailand Board of Investment presents a compelling proposition for foreign businesses seeking to expand their reach in Southeast Asia. With its attractive incentives, strategic focus, and commitment to development, the BOI paves the way for a successful and mutually beneficial partnership between foreign investors and Thailand's growing economy.

[thailandlawyers]

Thailand Board of Investment

The Thailand Board of Investment (BOI) is a government agency established to promote investment in Thailand. It plays a crucial role in attracting foreign direct investment (FDI) and stimulating economic growth. The BOI offers a range of incentives and support services to investors, making Thailand an attractive destination for businesses.

The BOI's Role in Thailand's Economy

The BOI's primary function is to attract foreign investment to Thailand. It does this by:

Providing Incentives: The BOI offers a variety of incentives to investors, including corporate tax breaks, import duty exemptions, and land allocations. These incentives are designed to make Thailand a more competitive investment destination.

Facilitating Investments: The BOI provides assistance to investors throughout the investment process, from site selection and project approval to obtaining necessary permits and licenses.

Promoting Thailand as an Investment Destination: The BOI actively promotes Thailand as an investment destination through international marketing campaigns, trade missions, and investment conferences.

Key Incentives Offered by the BOI

The BOI offers a wide range of incentives to investors, including:

Corporate Tax Breaks: Investors may be eligible for corporate tax breaks, including reduced corporate income tax rates and investment allowances.

Import Duty Exemptions: Investors may be exempt from import duties on machinery, equipment, and raw materials used in their businesses.

Land Allocations: The BOI may allocate land to investors for industrial or commercial purposes.

Visa and Work Permit Facilitation: The BOI can assist investors in obtaining visas and work permits for their foreign employees.

Eligibility Criteria for BOI Incentives

To be eligible for BOI incentives, projects must meet certain criteria, such as:

Investment Value: The total investment must meet a minimum threshold.

Job Creation: The project must create a certain number of jobs.

Technology Transfer: The project must contribute to the development of new technologies or industries in Thailand.

Export Orientation: The project must be export-oriented or contribute to import substitution.

The Impact of the BOI on Thailand's Economy

The BOI has played a significant role in Thailand's economic development. By attracting foreign investment, the BOI has helped to create jobs, stimulate exports, and promote technological advancement. The BOI's incentives have also encouraged the establishment of new industries and the expansion of existing businesses.

In conclusion, the Thailand Board of Investment is a vital agency that plays a crucial role in promoting economic growth in Thailand. By offering a range of incentives and support services to investors, the BOI has made Thailand an attractive destination for foreign direct investment.

[bangkoksolicitor]

Thailand Board of Investment

The Thailand Board of Investment (BOI), established in 1966, stands as a cornerstone institution promoting foreign direct investment (FDI) in Thailand. It plays a pivotal role in propelling the nation's economic growth and diversification by offering a plethora of incentives and streamlining the investment process. This article delves into the intricacies of the BOI, exploring its objectives, investment promotion strategies, and the advantages it offers to foreign investors.

Guiding Principles: The BOI's Vision and Mission

The BOI operates under the purview of the Office of the Prime Minister, highlighting its significance within the Thai government's economic development agenda. Here's a closer look at the driving forces behind the BOI:

Vision: To transform Thailand into a globally competitive and innovation-driven economy, fostering balanced and sustainable growth.

Mission: To attract high-quality foreign investments that contribute to technological advancement, knowledge transfer, and job creation in Thailand.

Strategic Arsenal: The BOI's Toolbox for Investors

The BOI employs a multi-pronged approach to incentivize foreign investment. Here are some of the key offerings that make Thailand an attractive investment destination:

Tax Incentives: Corporate income tax exemptions or reductions, import duty exemptions on machinery, and exemption from import duties on raw materials for export production are some of the tax benefits offered.

Investment Allowance: Companies can deduct a portion of their investment costs from their taxable income over a specified period.

Land Leasehold Rights: Foreigners can be granted extended leasehold rights for land plots under specific BOI-promoted activities.

Simplified Business Registration: The BOI facilitates a faster and smoother business registration process for promoted companies.

One-Stop Service: The BOI acts as a central point of contact, providing guidance and assistance to investors throughout the investment process.

Tailored Assistance: BOI's Promotion Sectors and Activities

The BOI prioritizes specific sectors and activities deemed crucial for Thailand's economic development. These sectors are categorized into clusters, each with its own set of promotional strategies and incentives. Some of the key focus areas include:

Advanced Technologies: The BOI actively promotes investments in industries like robotics, artificial intelligence, and digital technology.

Future Industries: Sectors like bioeconomy, medical and wellness services, and aviation and logistics receive significant support from the BOI.

Targeted Industries: The BOI offers incentives for investments in targeted industries like automotive, electronics, and food processing, which contribute significantly to Thailand's export sector.

Beyond Incentives: Additional Advantages of BOI Promotion

While the financial perks are substantial, BOI promotion offers a range of additional benefits:

Enhanced Credibility: BOI-promoted companies gain a mark of recognition from the Thai government, potentially boosting investor confidence.

Streamlined Bureaucracy: The BOI assists in navigating complex regulations and obtaining necessary permits, saving investors time and resources.

Access to Networks: The BOI connects investors with potential business partners, suppliers, and research institutions within Thailand.

Eligibility and Application Process: Demystifying BOI Promotion

Not all foreign investments qualify for BOI promotion. Here's a breakdown of the eligibility criteria and the application process:

Eligibility: Companies involved in activities aligned with the BOI's promotional sectors, demonstrating potential for technology transfer, job creation, and export generation, are most likely to be considered.

Application Process: Investors submit detailed proposals outlining their business plans, projected investments, and anticipated contributions to the Thai economy. The BOI thoroughly evaluates each proposal before making a decision.

A Look Ahead: The BOI's Role in Thailand's Future

As Thailand strives to navigate a dynamic global economic landscape, the BOI's role remains crucial. By continuously refining its promotional strategies, attracting high-value investments in cutting-edge sectors, and fostering a supportive business environment, the BOI is well-positioned to propel Thailand's economic transformation and secure its place as a leading investment destination in the region.

[bangkoklawyr]

Thailand Board of Investment

The Thailand Board of Investment (BOI), also known as the Office of the Board of Investment, is a key government agency dedicated to attracting and promoting foreign direct investment (FDI) in Thailand. Established in 1966, the BOI plays a crucial role in driving Thailand's economic growth and development by offering a range of incentives and support services to foreign investors.

What the BOI Does

The BOI's primary function is to create an attractive environment for foreign businesses to establish operations in Thailand. Here's how they achieve this:

Providing Investment Promotion: The BOI offers various incentives to entice foreign investors, including corporate income tax exemptions or reductions, import duty exemptions on machinery, and streamlined business registration procedures.

Identifying Investment Opportunities: The BOI conducts research and identifies sectors with high growth potential, promoting them to foreign investors with relevant expertise and technology.

Facilitating Investment: The BOI acts as a one-stop shop for foreign investors, assisting them with navigating regulations, obtaining work permits, and connecting them with potential business partners in Thailand.

Developing Targeted Investment Policies: The BOI tailors investment promotion packages to specific industries, such as advanced technology, robotics, or tourism, to attract businesses that align with Thailand's development goals.

Benefits of Utilizing the BOI

There are numerous advantages to partnering with the BOI when entering the Thai market:

Reduced Costs: Tax breaks and import duty exemptions offered by the BOI can significantly reduce operational costs for foreign businesses.

Faster Business Setup: The BOI streamlines the business registration process, saving time and resources for investors.

Access to Expertise: The BOI provides guidance and support throughout the investment journey, ensuring a smoother experience.

Enhanced Market Access: The BOI can connect businesses with potential partners and customers within Thailand.

Who Can Benefit from the BOI?

The BOI's programs cater to a wide range of foreign businesses, including:

Manufacturers: Companies involved in sectors like automotive, electronics, or food processing can benefit from tax breaks and import duty exemptions on machinery.

Technology Companies: The BOI promotes investment in fields like robotics, biotechnology, and software development, offering incentives for research and development activities.

Service Providers: Foreign companies offering services in sectors like healthcare, education, or tourism can find support through the BOI's programs.

How to Get Started with the BOI

Foreign companies interested in leveraging the BOI's services can visit their website (https://www.boi.go.th/en/index) to explore promoted industries, eligibility criteria, and application procedures. The BOI also maintains offices worldwide to provide local assistance to potential investors.

Conclusion

The Thailand Board of Investment serves as a valuable bridge between foreign businesses and the Thai market. By understanding the BOI's role, the incentives they offer, and how to access their services, foreign investors can make informed decisions about entering Thailand and contribute to the country's economic success story.

Visit our website for more information: https://bangkok-lawyers.com/

[thailandlawyerss]

Thailand Board of Investment

Thailand's Board of Investment (BOI) is a government agency that serves as a one-stop shop for foreign investors seeking to establish a presence in Thailand. The BOI offers a compelling package of incentives, including tax breaks, import duty exemptions, and streamlined business registration processes. These perks are designed to attract businesses that align with Thailand's economic development goals, such as those in advanced manufacturing, technology, tourism, and infrastructure development. The BOI also recognizes the potential of certain service industries and offers targeted incentives to healthcare providers, educational institutions, and research and development centers.

Considering expanding your operations to Southeast Asia? Partnering with the BOI can significantly smooth your entry into Thailand's thriving market. The BOI's team of investment professionals will guide you through every step of the process, from initial inquiries to navigating regulations and securing work permits. They can also connect you with potential local partners and help you identify promising locations for your business.

Visit our website for more information: https://www.thailandlawyers.net/thailand-board-of-investment.html

[attorneythailand]

Thailand Board of Investment

Thailand, a strategic location in Southeast Asia with a skilled workforce and strong infrastructure, attracts businesses through the Thailand Board of Investment (BOI). Established in 1966, the BOI simplifies foreign investment with incentives, streamlined procedures, and infrastructure support in targeted industries. The BOI website (https://www.boi.go.th/en/index/) offers details.

What is the BOI?

The BOI functions as a one-stop shop for foreign investors. It's a government agency under the Office of the Prime Minister that streamlines the investment process and offers a range of incentives to make Thailand an attractive business base.

Why Invest in Thailand with the BOI?

Here are some key benefits that the BOI offers to foreign businesses:

Financial Incentives: BOI-promoted companies can qualify for attractive tax breaks, including corporate income tax exemptions, import duty reductions on machinery, and exemption from machinery import duties. These incentives can significantly reduce operational costs and boost profitability.

Simplified Procedures: The BOI cuts through bureaucratic red tape, assisting with work permit applications, visa processes, and obtaining necessary licenses. This saves foreign investors valuable time and resources, allowing them to focus on core business activities.

Infrastructure Support: The BOI can connect investors with industrial estates offering developed infrastructure, such as power grids, transportation networks, and waste management systems. This eliminates the need for companies to invest heavily in building their own infrastructure, allowing them to hit the ground running.

Focus Industries: The BOI prioritizes specific industries deemed crucial for Thailand's economic development. These sectors receive even greater incentives to attract foreign investment and expertise. Some of the priority areas include:

Advanced technologies like robotics, artificial intelligence, and biotechnology

Digital industries encompassing e-commerce, software development, and data analytics

Eastern Economic Corridor (EEC) development projects, aiming to create a special economic zone focused on innovation and high-tech industries

Bioeconomy and circular economy businesses that promote sustainable development and resource efficiency

Investing in Thailand's Future

The BOI recognizes that foreign investment is critical for Thailand's continued economic growth. By offering a supportive environment, attractive incentives, and streamlined procedures, the BOI aims to make Thailand a prime location for businesses to flourish in the heart of Southeast Asia. Foreign companies looking for a strategic and rewarding investment destination in Southeast Asia will find Thailand, with the support of the BOI, to be a strong contender.

How to Get Started with the BOI

The BOI website (https://www.boi.go.th/en/index/) provides comprehensive information on investment opportunities, application procedures, and the types of incentives available. The BOI also maintains offices worldwide to assist potential investors with navigating the investment process in Thailand.

Investing in Thailand with the BOI can be a strategic move for your business, offering a gateway to growth in the dynamic Southeast Asian market.

Visit our website for more information: https://www.attorney-thailand.com/

[williamrikers]

King of the Cardboard Castle

- thoughts on kanghan after episode 2 -

i just rewatched the episode (because it slaps so hard, i'm fully on board and invested in this show now), and i want to write a little something on kanghan because i see some people in the tag confused by his choices. why did he go to sailom's with a gun? why did he end up comforting sailom? i think it's all very understandable from his character's perspective.

so, to me, that cardboard castle tells us everything we need to know about kanghan: his power is an illusion, built on an unsteady foundation, and could be torn down at any moment. kang is intimately aware of this and does everything he can to try and consolidate the little power and influence he has by any means necessary.

why use a gun to threaten sailom?

but sailom isn't afraid or deferential. he never, EVER is.

kanghan needs to feel dominant. he needs to feel powerful, and literally the only guy at school who keeps defying him is sailom. sailom keeps coming out on top time and time again because he's smarter than kang and never actually starts shit, he just reacts to what's happening, making him basically immune to being ratted out to people in positions of authority. even kang's own grandmother sees through kang's shitty attempts at manipulation and chastises kang in front of the principal.

kanghan's only power is that over the kids at school, truly a king of a very small and incredibly meaningless kingdom. but it is effective in making him feel powerful: all of the other kids defer to kanghan or are openly terrified of him (we saw them all dutifully lining up to have the videos removed from their phones, none of them are ever going to challenge kang).

and kang resents that--has a deep need to put sailom in his place, because he wants that feeling of total power. he wants all of his classmates to defer to him, not just 90% of them. at this point, it's turned into an obsession for him: make sailom afraid just once. make him tremble before kang just once. make him get down on his knees JUST ONCE. (and no, there is no gay subtext at all to kang insisting again and again that sailom should get down on his knees. don't worry about it kanghan your secret gay fantasies are safe with me 😘)

like, he's tried everything else: threatening him physically, trying to get him fired from his job at the car wash, ACTUALLY getting him fired from his job tutoring, hurting his friends, trying to convince his grandmother to cancel his scholarship, taunting him about his home situation and lack of money, actually throwing money in his face/on the ground (from what i understand, a taboo in thailand). and none of it has worked to make sailom treat him with the respect and fear he thinks he deserves. sailom would rather have given up his scholarship than lie about what happened and wrongfully apologize to kang. at this point, i feel like kang is too far gone to be able to back out. he has set this goal for himself (humiliate sailom), and it's been eating his brain. he can't rest until he finally gets what he wants.

can i just put in a quick tangent in here gushing over CHIMON'S MICROEXPRESSIONS!!! god, this man is a joy to watch, just look at the money throwing scene in part 3/4; the depth of emotion chimon manages to convey with just the slightest changes of expression is incredible. i've said this before and i will say it again: chimon is one of the strongest actors on the gmmtv roster right now and i am in awe of his skill.

anyway, kang goes to sailom's house fully intent on humiliating him, but what he finds there is so much worse than any of his own bullying has managed to be. for all his talk, kanghan is not a particularly scary or successful bully: he's the king of the cardboard castle. his power is an illusion, propped up by his family name and his family's money. i don't think he would be capable of taking a hot iron and burning someone with it--the level of violence that sailom is subjected to (ON THE REGULAR, I MIGHT ADD) is completely out of kang's wheelhouse.

and i do think that at this point he genuinely feels for sailom. that he genuinely does feel sorry for him, because you can't be obsessed with someone to the point of going to their house with a gun without caring about them in some way. on the contrary, the kind of obsession kang has with sailom runs bone-deep, and i am absolutely team "kang is going to fall first and fall hard". he's already obsessed with the guy! he values sailom's emotional state in a way he doesn't anyone else's! (sure, initially it's because he wants to make sailom submit but all that obsessive energy has to go SOMEWHERE, right.)

seeing sailom cowering and crying does put things in perspective for kanghan, i think. the way he reaches out to him seems almost involuntary, the way he touches him is hesitant and unsure. but this does read as a very genuine and understandable reaction to me: no matter their differences at school, this is a person who kang knows and, in a twisted way, cares very much about. the normal human reaction at this point is to reach out, to offer comfort, no matter how you feel about the person. it would have been weirder to me if he hadn't, honestly.

also, a note on the use of "friend" by kang in this scene: i've seen people making a big deal out of this but it's absolutely not that deep. please correct me if i'm wrong but as i understand it, "puen" is also frequently used to refer to classmates/people in the same year at uni, no matter whether you're close to them or not. "friend" is just a translation choice which fits imo, because you wouldn't say "get away from my classmate" in english. you'd probably say "get away from my friend" instead, even if you're not really friends, and translation is also about what makes sense in the target language. so him saying that is not some big 180, he's basically just stating that he knows sailom from school.

anyway, where was i going with all of this? to me, kang's choices in this episode are all completely justified from his character's perspective. i neither find it odd that he tried to threaten sailom with a gun, nor that he ended up comforting sailom. because everything he is and claims to be is built on cardboard: the guy doesn't know himself. we know he has some deeply, DEEPLY repressed gay fantasies and that he gets obsessed with the first person to openly defy him because that threatens the stability of his cardboard castle. what if everyone realises that deep down, kanghan is a cringefail loser who is so starved for love and attention he would rather fill the hole in his heart with violence and cruelty than be honest about who he is? what if everyone finds out he's not as scary as he'd like to be?

the cardboard underneath kang is flimsy, and i'm pretty sure his castle is going to collapse pretty soon.

[littleragondin]

After Sundown (2023)

Synopsis:

Saengrawee has spent his life in the temple with Luang Lung Chanthakorn. When he turns 21, Parit – an old friend of the monk – comes to take him away, to live in Phra Nahkon with Parit’s family. As he settles in the mansion, Rawee starts getting plagued with nightmares, and visions of a ghost. Parit’s grandson, Praphloeng, comes back to Thailand at his parents’ demand. They worry about a prophecy who warns that if Phloeng does not bind his life to a soulmate by the time he turns 25, his life will be in grave danger. Said soulmate can’t be from Phra Nahkon, nor be a woman (according to mdl). Luckily, Rawee fits the bill, and despite their mutual dislike, the two men accept the ceremony. But while they learn to live with each other, and Phloeng’s presence is able to soothe Rawee’s nightmares, the ghost’s apparent grudge against Rawee only seems to deepen …

this shot is just too pretty

Non-spoilery review:

It was not a very good movie, all in all. I think it worked with a lot of ideas that, while not necessarily groundbreaking, were good enough to make a nice romance and an interesting horror story. The reluctant soulmates/fake marriage tropes are beloved for a reason, and can make for a compelling journey. The newcomer in the house mysteriously targeted by a ghost that seems to know him is also pretty classic, and when used well can be ground for a good, creepy mystery. The problem here is that imo, the execution was sub-par.

To begin with, the horror is not well integrated to the story. While I liked all the ghost scenes – tense and efficient, and in 720p at night the ghost freaked me the fuck out let me tell you – they were not well integrated into the story. Outside of those specific scenes, there is no sense of something terrifying happening to the main protagonist of the story, he doesn’t seem worried not curious about any of it, focused as he is on his romance.

And that’s where for me, it went from ‘not great’ to ‘not good’. Because with how much time is spent on the romantic parts of the story, I still can’t believe how little development happens. They are reluctant to even be in the same room a moment, and straight up acting like a married couple the next with absolutely nothing to justify this. Zee and NuNew share a lot of soft, romantic scenes, but they felt disconnected from each other, and because there is no showing of their feelings gradually changing those scenes, for me, lacked any emotional impact. That said, the two of them work well together, and the chemistry was chemistring alright when they were on screen. Still, with characters that don’t have a big personality and a scenario that has trouble holding itself together, there is only so much chemistry can do.

So yeah, for me After Sundown failed both as a horror and as a romance movie. I had no emotional investment in anything happening (which also made the reveal/conclusion at the end fall flat), the pacing was not good and actor performances alone (which were mostly good across the board) could not save this one.

Tl;dr: I gave this one 5/10. I would only recommend it if you really really really miss Zee and NuNew and just want to see them act cute with each other while not being bothered by the absence of actual story and the presence of a few good jump scares. Also if you just want to see Nammon wet and shirtless, just skip to 1:12:00 =3

Below the read more, I will go a little more into the reveal at the end, as well as a few pet peeves I got through the movie. It will be full of spoilers.

The reveal about the ghost:

I hated how we got nothing about the ghost during the whole movie except that she thought Rawee was someone else (the monk/his uncle) and wanted to kill him for it, and then 20 minutes before the end you get that huge, 10-minutes long info dumping flashback explaining who she is, what her relation to both the family and Rawee’s uncle is, how she died and why she is so vengeful. My first thought was ‘that’s a movie I would have liked to see’, followed by tons of ideas on how it could have been, you know, actually made part of the movie and not just stacked at the end like an after thought. 1 hour 20 minutes in, and you have no notion that there was a tragedy in that house, that Parit has A Mysterious Past regarding his sppuse, or that the ghost is actually linked to the family in any kind of way. It’s fine if you don’t want the protagonist to find out until the very end, but there should be stuffs to clue us, the audience, in, otherwise the reveal comes and you’re like ¯\_(ツ)_/¯ okay I guess. Show us a picture of her in the house, maybe hidden away so we know Something Is Afoot, have some of those final flashbacks interwoven into Rawee’s nightmares (maybe make it so they’re misleading, showing her under a different light). Make the scene where Parit comes to the temple and meet the monk, after all those years, far, far more charged so I can feel that they’re not just old acquaintances but share something so much deeper. That they share both love and guilt. Just mention the fact that Phloeng's father never really knew his mother, that she died when he was small and I don't know, maybe they Don't Talk About Her Anymore. Give me something basically.

Also, at least Parit and Luang Lung Chanthakorn were aware of what was happening/who she was, and no one ever thought of, oh, I don’t know, do something about it? Warn the guys?? Why on earth did the monk say yes to sending Rawee back there knowing what the fuck happened in there and the responsibility he had in it? Come on.

Smaller things and Pet Peeves:

Ok this one is just for, like, random grievances I had with the movie.

First of all, Rawee’s lack of curiosity. You don’t have to make him an amateur detective, but that guy who grew up in a temple (so I assume at least a little spiritual) starts having nightmares and visions and doesn’t question it for a second? Doesn’t think oh, maybe there is something going on, maybe if I find out what the spirit wants and why, I could get rid of it? Nothing? I know my own curiosity is probably skewing my opinion but I wanted to shake him and beg him to ask even one goddamn question! Please!!

The “secondary couple”. Okay, so, this one ties up more to the romance aspect of things. We set up Pudson to be a sort of rival to Rawee, the spurned, jealous boy who hates the one who took Phloeng away, but there is never… I mean I’m pretty sure we never see him and Phloeng in a scene together, even, and all of this amount to nothing. Never actually hurts Rawee, never confronts him or tries to actually get Phloeng, this never leads to any tensions between Rawee and Phloeng… Then Kraiphop, the chauffeur, who is being so nice to Rawee and who makes Phloeng jealous once. Less of an actual rival to Phloeng, he’s presented more like a kind man who might help Phloeng realizes that he actually like Rawee. But the jealousy scene happens after we have seen them basically act chummy and nice to each other so it doesn’t work either. And then!! 35 minutes before the end, we get thrown a bone that oh maybe Kraiphop actually kinda likes Pudson, who may fall too, but that’s so brief, and then completely left hanging, I don’t see the point of having those characters. And I say that when it gives us Nammon shirtless and wet, so you can imagine…

Finally, and those are both the smallest and the most annoying of all (alright I might push it a little). That single voiceover we have maybe a third in?? There is that breakfast moment where Rawee’s voice says something along the line of ‘uh, since I sleep by Phloeng’s side the nightmares are gone and then there is never EVER another voiceover during the whole movie? Could you not have found another way to show not tell this? This irked me so bad lol

And then, MDL tells me it’s supposed to happen in 1961, and while the (very cool) car Phloeng rides seems to agree, the rest of the aesthetic screams Khun Chai to me (not just because it’s the same house I swear) which is 1942-something so like … two decades earlier. It’s not a lot but it added some confusion post viewing I guess.

[thaivisanews]

Thailand SMART Visa

Thailand's ambition to transform its economy into a high-tech hub has led to the creation of the SMART Visa program. Launched in 2020, this visa aims to attract skilled professionals, investors, and entrepreneurs across ten targeted industries deemed crucial for the nation's growth. Let's delve deeper into the intricacies of the SMART Visa program and explore its various facets.

Tailored Categories for Specific Needs

The SMART Visa caters to a diverse range of individuals by offering four distinct categories:

SMART Talent (T) Visa: This category targets highly skilled professionals with expertise in fields like robotics, aviation, and digital technology. Applicants must possess a minimum monthly salary of 100,000 baht (approximately $3,000 USD) and have their work experience endorsed by a relevant government agency within the Strategic Talent Center (STC) network. This visa offers a maximum four-year stay with the possibility of renewal.

SMART Business (B) Visa: This category focuses on attracting business executives and investors. Applicants can qualify by demonstrating a minimum investment in a Thai company or a minimum annual income derived from overseas. Unlike the T visa, the B visa doesn't require specific industry expertise but offers a shorter maximum stay of two years, also renewable.

SMART Startup (S) Visa: This visa is ideal for entrepreneurs seeking to establish or join a startup in Thailand. Applicants can qualify by having a stake in a registered Thai startup or participating in an approved accelerator or incubator program. The S visa offers flexible stay durations of 6 months, 1 year, or 2 years, depending on the specific circumstances.

SMART Family (F) Visa: Spouses and children of SMART Visa holders can apply for the F visa, allowing them to accompany the main visa holder and reside in Thailand for the duration of the primary visa's validity. This eliminates the need for dependents to obtain separate visas, simplifying the relocation process.

Beyond Long Stays: Unveiling the SMART Visa Advantage

The SMART Visa goes beyond just offering extended stays. Here's a breakdown of some of its key benefits:

Fast-Track Immigration: SMART Visa holders benefit from expedited immigration services at designated Thai airports, saving valuable time upon arrival.

Work Permit Exemption: The T visa and, in some cases, the B visa exempt holders from the need to obtain a separate work permit, streamlining the employment process. Spouses with F visas may also be eligible to work without a separate work permit.

Tax Incentives: SMART Visa holders in certain categories might be eligible for tax benefits such as reduced personal income tax rates or exemptions on imported equipment for business ventures.

Multiple Re-Entry: Unlike some Thai visas, the SMART Visa allows for multiple entries and exits throughout its validity period, offering greater travel flexibility.

Eligibility Nuances and the Application Process

The eligibility requirements for each SMART Visa category can be nuanced. It's crucial to consult with a Thai immigration lawyer to determine the most suitable category and ensure you meet all the specific criteria. Here's a simplified overview of the application process:

Category Selection: Identify the SMART Visa category that best aligns with your goals and qualifications (Talent, Business, Startup, or Family).

Documentation Gathering: Compile the necessary documents as per your chosen category, which may include academic certificates, employment contracts, business plans, or financial statements.

Endorsement (if applicable): For the T visa, endorsement from a relevant STC agency is mandatory. This involves submitting your application and qualifications to the designated agency for review and approval.

Application Submission: Applications are typically submitted through the Thailand Board of Investment (BOI) or a designated embassy or consulate.

The Legal Landscape: Considerations and Potential Challenges

While the SMART Visa program offers exciting prospects, some factors require careful consideration:

Industry Specificity: The T visa's focus on targeted industries might exclude skilled professionals in other sectors.

Work Permit Exemptions: The work permit exemption associated with certain SMART Visas might not apply to all job roles within a company. Consulting with an immigration lawyer is crucial to navigate this complexity.

Evolving Regulations: The SMART Visa program is relatively new, and regulations might evolve over time. Staying updated with the latest requirements is essential.

Conclusion

The SMART Visa program presents a compelling opportunity for skilled professionals, entrepreneurs, and their families seeking to establish themselves in Thailand's dynamic economy. By understanding the intricacies of each category, its benefits, and the application process, individuals can leverage this program to chart a successful course in the Land of Smiles. Remember, seeking expert legal advice can ensure a smooth application process and maximize your chances of securing a SMART Visa.

[thaiattorney]

Buying Property in Thailand

Thailand is an attractive destination for property buyers due to its scenic landscapes, vibrant cities, and welcoming culture. However, purchasing property in Thailand, especially as a foreigner, involves navigating a complex legal framework and understanding the local market intricacies. This comprehensive guide will provide detailed insights, enhancing expertise and credibility by delving into the legalities, procedures, and best practices for buying property in Thailand.

1. Understanding the Legal Framework

Key Legal Restrictions:

Land Code Act B.E. 2497 (1954): Foreigners cannot own land in Thailand except under specific conditions.

Condominium Act B.E. 2522 (1979): Foreigners can own up to 49% of the total floor area of a condominium building.

Foreign Business Act B.E. 2542 (1999): Regulates foreign business activities and investments, impacting property purchases for business purposes.

Exceptions and Alternatives:

Board of Investment (BOI) Projects: Foreigners investing in BOI-promoted projects can acquire land under specific conditions.

Long-Term Leases: Foreigners can lease land for up to 30 years, with options to renew.

Thai Company Ownership: Forming a Thai company where foreigners hold less than 50% of shares allows indirect land ownership.

2. Types of Property Available for Purchase

Condominiums:

Freehold Ownership: Foreigners can own condominium units outright.

Ownership Percentage: The foreign ownership quota in a condominium building should not exceed 49%.

Leasehold Properties:

Land and Houses: Foreigners can lease land and houses for up to 30 years, with potential for renewal.

Registration: Leases exceeding three years must be registered at the Land Department to be legally enforceable.

Investment Properties:

Commercial Real Estate: Foreigners can invest in commercial properties through long-term leases or joint ventures with Thai partners.

Resort and Hotel Investments: Special regulations apply to foreign investments in resort and hotel properties, often requiring joint ventures.

3. Due Diligence and Legal Processes

Conducting Due Diligence:

Title Search: Verify the property’s legal status, ownership history, and any encumbrances or disputes.

Zoning and Land Use: Ensure the property complies with local zoning laws and land use regulations.

Environmental Compliance: Check for any environmental restrictions or issues affecting the property.

Engaging Legal and Financial Advisors:

Real Estate Lawyer: Hire a reputable lawyer specializing in Thai real estate to guide you through the legal processes.

Financial Advisor: Consult a financial advisor to understand tax implications, financing options, and investment strategies.

Steps in the Buying Process:

Reservation Agreement: Sign a reservation agreement and pay a reservation fee to secure the property.

Due Diligence: Conduct thorough due diligence with the help of legal advisors.

Sale and Purchase Agreement (SPA): Draft and sign the SPA, detailing the terms and conditions of the sale.

Deposit Payment: Pay a deposit, typically 10-30% of the purchase price.

Transfer of Ownership: Complete the transfer at the Land Department, paying the remaining balance and associated fees.

4. Costs and Taxes Involved

Purchase Costs:

Transfer Fee: 2% of the appraised property value.

Stamp Duty: 0.5% of the purchase price or appraised value, whichever is higher.

Withholding Tax: 1% of the appraised value or the actual sale price, whichever is higher.

Specific Business Tax (SBT): 3.3% of the appraised or actual sale price, applicable if the property is sold within five years of acquisition.

Ongoing Costs:

Common Area Fees: Monthly fees for maintenance of common areas in condominiums.

Property Tax: Annual property tax based on the assessed value of the property.

Utilities and Maintenance: Regular expenses for utilities, repairs, and maintenance.

5. Financing Options

Local Financing:

Thai Banks: Some Thai banks offer mortgage loans to foreigners for condominium purchases.

Eligibility Criteria: Generally, borrowers need to have a work permit, proof of income, and a good credit history.

Foreign Financing:

Home Country Banks: Some buyers secure financing from banks in their home countries, leveraging their assets abroad.

International Mortgage Providers: Specialized financial institutions provide mortgages for international property purchases.

Payment Plans:

Developer Financing: Some developers offer financing plans with staggered payments during the construction period.

Installment Payments: Buyers can negotiate installment payments directly with sellers or developers.

6. Common Pitfalls and How to Avoid Them

Legal Complications:

Unclear Title: Always verify the title to avoid disputes and ensure clear ownership.

Zoning Issues: Confirm zoning regulations to ensure the property can be used as intended.

Contractual Disputes: Have all agreements reviewed by a lawyer to prevent misunderstandings and ensure enforceability.

Financial Risks:

Currency Fluctuations: Be aware of exchange rate risks when making payments in foreign currency.

Hidden Costs: Account for all additional costs such as taxes, fees, and maintenance expenses.

Financing Challenges: Ensure you have a clear financing plan and understand the terms of any loans or payment plans.

7. Enhancing Expertise and Credibility

Demonstrating Professional Credentials:

Legal Qualifications: Highlight the legal qualifications and experience of your advisors and partners.

Professional Experience: Detail your experience in handling property transactions in Thailand.

Memberships and Affiliations: Include memberships in professional organizations like the Thai Bar Association, the Real Estate Broker Association, or international property associations.

Providing Authoritative References:

Cite Legal Documents: Reference specific sections of the Land Code Act and Condominium Act to support your points.

Expert Opinions: Incorporate insights from recognized experts in Thai real estate law and property investment.

Including Detailed Case Studies:

Client Testimonials: Feature testimonials from clients who have successfully purchased property in Thailand with your assistance.

Real-Life Examples: Provide detailed examples of successful transactions, highlighting any challenges overcome and solutions implemented.

Visual Aids and Infographics:

Process Flowcharts: Use flowcharts to depict the steps involved in the property buying process.

Diagrams: Create diagrams to visually explain key legal concepts and ownership structures.

[foralleternityidiot]

OKKKKKK

What are you most excited about in the GMMTV announcement and why is it Only Friends and 23.5?

Ok those are mine but what are yours and why?

Personally, I am thrilled with the entire lineup. I think this year's concept of "diverse" was related to the genres/stories more so than anything else. They really threw in a bit of everything. I am most excited for Enigma, Double Savage, 23.5, Because You're My First Love, Wednesday Club, Loneliness Society, Only Friends, Midnight Museum, Our Skyy 2, and Beauty Newbie. Now, if I could save one from drowning, I would immediately choose Only Friends without a second of hesitation. I will sell my soul to that series when it airs.

I love supernatural horror, so Enigma is right up my alley. I also like the pairing on Win and Prim. I didn't get around to watching F4 before it was pulled from youtube, so I didn't get to see them interact on the series, but I've been following them on social media and they have lovely chemistry, so I am definitely interested in seeing that unfold in such a unique story. The glimpse we get of dark, mysterious tattooed Win set my soul on fire (I've always been aesthetically in love with him anyway). Prim is a great actress that I have seen in many roles and I always enjoy her performance.

Double Savage won me over simply on the cast. Ohm, Perth, and Film. That's a triple threat made just for me. I don't really understand what it's about, but I love shows about brothers and I like grittiness, so this definitely is on my To Watch list.

23.5 is what we have all been waiting for and predicting. So obviously I am on board. I love the planetary symbolism as well. It really feels like they chose something special for their first GL, rather than just throwing some crap at us.

Because You are My First Love just looks so romantic and lovely. Also, Dew must be the tallest man at GMMTV!

Wednesday Club... no clue really what that is about, but I like the cast and the vibes.

Loneliness Society is an adaptation of While You Were Sleeping, a 1995 Sandra Bullock movie that my mom loved when I was young. I actually remember she saw it in theatres with her friend, while I watched A Goofy Movie in an adjacent theatre with my friend. But my movie finished early, so I went to sit with my mom and watched the end of her movie with her. Anyway, I have always loved the plot set up and I really love Joss, so I'm definitely watching this.

Only Friends... I really don't think I need to explain this one.

Midnight Museum is such a kdrama and I love that for Thailand. I was particularly blown away by the investment in the special effects. I hope they go as hard in the full series. Again, not really sure what it's about, but I am here for it.

I was thinking just a couple days about the need more another Our Skyy series, so Our Skyy 2 was a blessed reveal. I am very happy with the couples they chose as well.

I tried to watch the Korean adaptation of My ID is Gangnam Beauty, but for some reason, I just couldn't get into it. I am looking forward to trying again with the Thai version, Beauty Newbie.

As for the rest, I am absolutely going to be watching all the other BLs I didn't mention (A Boss and a Babe, Hidden Agenda, Cooking Crush, Last Twilight, Dangerous Romance, and Cherry Magic Thailand). But none of them get my gears going as much as I had hoped. That happens every year though and I end up loving them all. Book in A Boss and a Babe is so different from in Enchante and I LOVE that, but the story feels like a BL choose your own adventure. Hidden Agenda feels a bit like a rehash of Star in my Mind, and I really wanted to see something vastly different for JoongDunk, but I am ready to be wrong. Cooking Crush as OffGun's follow-up to Not Me??........ they better surprise us with something magnificent because idk this doesn't seem like it. Last Twilight will very likely be fucking incredible with P'Aof at the helm and all, but I'm not big on melodrama. Dangerous Romance as a trailer just didn't work for me, but as a series I think it will be fantastic. Finally, TayNew in Cherry Magic Thailand shocked me so completely to my core that I had a fangirl fit in the parking lot at work, but this could either be a fantastic idea or the worst idea in GMMTV history. I'm scared.

I didn't mention The Jungle, but I plan to watch that.

I think the only series I don't really think I will be making time for is Faceless Love. Prosopagnosia just doesn't work like that. Idk it annoys me.

Last note: Find Yourself, UMG, and Home School were pushed from 2022 to 2023 and I am teetering on the edge of my seat for each of these. I will dissolve into a pool of acid if we don't get them in January/February. My Precious will come out in March but since it's a movie I doubt interfans will see it for at least another year.

[industrynewsupdates]

Helium Procurement Intelligence 2024 - 2030: Trends and Outlook

The helium market is expected to grow at a CAGR of 6.7% from 2024 to 2030. The market is predicted to grow significantly due to the rising demand for helium utilization in aerospace, healthcare, deep-sea exploration, automotive, and manufacturing industries. In 2023, North America accounted for the highest proportion of the industry share, with more than 36%. Helium's supercooling property has led to its use in medical equipment such as MRI and NMR machines, particle accelerators, and superconducting materials due to advances in cryogenic technologies. Helium is used in the semiconductor industry to test electrical components and cool circuit boards.

NASA is investing heavily in the R&D of helium to improve the efficiency of GPS-enabled vehicles. For instance, in September 2022, NASA awarded a contract of USD 149 million to Air Products and Chemicals, Linde, and Messer Group. The three leaders would provide helium of 1.4 million liters (liquid) and 87.7 million standard cubic feet of helium (gaseous) to different NASA facilities. It is being used in International Space Station programs.

In the noble gas market, helium dominated with 47% of the overall share in 2023. Technology-wise, it was found that in 2023, more than 80% of gas companies use advanced analytics and robotic process automation and leverage AI/ML technology in their processes. Suppliers actively engage in multiple mergers and acquisitions, capacity expansion, partnerships and collaborations, launch new products, develop new technologies, and invest heavily in R&D to gain competitive advantage.

Order your copy of the Helium Procurement Intelligence Report, 2024 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

A few examples are:

• In May 2023, it was announced that First Helium Inc. has signed a long-term supply contract with a significant international industrial gas company on a take-or-pay basis. According to the deal, First Helium would sell helium gas produced from its Worsley facility. The agreement is estimated to provide First Helium with a potential revenue stream of up to USD 100 million over the first five years of production, depending on the rate of growth in helium production at Worsley.

• In August 2022, Iwatani Corporation announced a new helium supply agreement with specialty gas company, Helious Specialty Gases (HSG). According to the agreement, Iwatani would provide liquid helium to HSG's transfill facilities in Rajasthan, Gujarat, and Telengana. The latter two of which would be operational post Q2 2022. These facilities can manage a million Nm3 of liquid helium annually, according to HSG.

• In January 2022, A long-term contract for the distribution of ultra-high quality carbon dioxide, helium, and hydrogen to one of the biggest semiconductor producers globally was announced by Air Liquide. To support this contract, Air Liquide aimed to spend up to USD 60 million on the development, ownership, and operation of onsite plants and systems at a new manufacturing facility in Phoenix, Arizona.

• In October 2021, The Bangkok Gas Centre was built from scratch by Iwatani Corporation and opened in November 2021. The Thailand center, which is the second helium base in Southeast Asia after the first station in Malaysia, was the basis for filling industrial gas, mostly helium. In addition to uses like MRI equipment cooling, industries such as semiconductor manufacturing will benefit from increasing the gas's production capacity. 

Helium Sourcing Intelligence Highlights

• The global helium market features an oligopolistic landscape with the dominance of five major players. The top five players (Linde, Air Liquide, Air Products, Taiyo Nippon Sanso, and Iwatani) contribute around 80% of the market share.

• The competition is intense as big players such as Linde Plc, Air Products & Chemicals, and Air Liquide are extensively competing with each other to extend their global presence and product portfolio to cater to large global markets.

• The threat of substitutes is low as the alternatives for this category are limited. For instance, in some cases, argon, hydrogen, or nitrogen may be used in place of helium. However, nitrogen is a very poor substitute for helium despite having a low cost. Hydrogen on the other hand is a highly flammable commodity.

• The cost components associated with the production of helium are raw materials/feedstock, manufacturing process and equipment, electricity/energy, transportation/distribution, warehousing and storage, facilities and labor.

• The most preferred countries for sourcing helium are the U.S., Qatar, Algeria, Australia, and China. 

List of Key Suppliers in the Helium Category

• Linde Plc

• Nippon Sanso Holdings Corporation

• Messer SE & Co. KGaA

• Air Products and Chemicals, Inc.

• Air Liquide S.A.

• Iwatani Corporation

• STRANDMOLLEN A/S

• Axcel Gases

• Gulf Cryo

• The Southern Gas Limited

• Ellenbarrie Industrial Gases Limited

• Qatargas Operating Company Limited

• Buzwair Industrial Gases Factories

• nexAir, LLC

• Exxon Mobil Corporation

Browse through Grand View Research’s collection of procurement intelligence studies:

• Lab Chemicals Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Polyethylene Terephthalate (PET) Procurement Intelligence Report, 2024 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Helium Procurement Intelligence Report Scope 

• Helium Category Growth Rate: CAGR of 6.7% from 2024 to 2030

• Pricing Growth Outlook: 15% - 20% (Annually)

• Pricing Models: Volume-based, contract-based pricing model

• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

• Supplier Selection Criteria: Application areas served, supply type, production capacity, purity level, type of helium provided, sources of helium, sub-helium brands, operational capabilities, quality measures, technology, certifications, data privacy regulations, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

[apacbusinesstimes]

Business in Thailand: The Major Benefits of Starting Your Business in a Growing Market

Thailand is also known as the “Land of Smiles.” It is not just a popular tourist destination but also a thriving hub for business and investment. Many foreign investors are looking at Thailand as a great investment place for several good reasons. Setting up a business in Thailand offers numerous advantages, from its strategic location in Southeast Asia to its supportive government policies.  In this article, let us see and explore the key benefits of establishing a business in Thailand, making it an attractive destination for entrepreneurs and investors.

Strategic Location

Thailand’s geographical position makes it a strategic gateway to the ASEAN market (Association of Southeast Asian Nations). It is a regional hub and located at the heart of Southeast Asia, Thailand provides easy access to over 600 million consumers in the ASEAN region. Excellent connectivity through well-developed air, sea, and land transport networks facilitates trade and logistics within the region and beyond.

Thailand’s proximity to major global markets enhances its appeal. The country’s proximity to economic powerhouses like China and India offers significant trade and investment opportunities. The location of Thailand also provides access to the broader Asia-Pacific region, one of the fastest-growing economic areas in the world.

Economic Environment

Thailand has demonstrated strong economic growth over the years. The stable and consistent GDP growth rates, driven by diversified economic activities, provide a stable environment for business operations. The country’s status as an upper-middle-income economy signifies a growing consumer market with an increasing purchase rate.

The Thai government offers various incentives to attract foreign investment. The Board of Investment (BOI) provides numerous incentives, such as tax exemptions, land ownership rights, visa, and work permit processes. The Special Economic Zones (SEZs) offer additional benefits which include reduced corporate income tax rates and customs duty exemptions, creating a conducive environment for business operations.

The government also provides supportive policies to enhance the ease of doing business in Thailand. Ongoing regulatory reforms aim to simplify business registration processes, reduce bureaucracy, and improve the overall business climate. Amendments to the Foreign Business Act have made it easier for foreign companies to own and operate businesses in Thailand.

Advanced Infrastructure

Thailand has a well-developed infrastructure network. Major international airports and deep-sea ports support efficient transport and logistics operations. Along with this, the extensive road and rail networks facilitate domestic and regional connectivity.

Investments in digital infrastructure are transforming Thailand into a digital economy. The use of High internet penetration rates and the rollout of new technology support digital business operations. The development of smart cities enhances technological integration and innovation, creating opportunities for tech-driven businesses.

Growing Market Opportunities

Several emerging industries present significant opportunities for business growth. Thailand is becoming a regional hub for technology and innovation, with a thriving startup ecosystem and government support for digital transformation. The other ever-growing industries of Thailand are Tourism and Hospitality.  As a top tourist destination, the tourism and hospitality industry offers vast opportunities for investment and business development.

The involvement of Thailand in regional economic initiatives enhances business opportunities. As a member of the AEC (ASEAN Economic Community), Thailand benefits from regional economic integration, promoting trade and investment. Numerous FTAs (Free Trade Agreements) with countries around the world provide market access for Thai businesses.

Conclusion

Setting up a business in Thailand offers multiple advantages, from its strategic location and economic environment to its advanced infrastructure and market opportunities. The country’s business-friendly policies, investment incentives, and many more make it an attractive destination for entrepreneurs and investors.  As Thailand continues to develop, the opportunities for business expansion and success are vast. If you want to know more about such marketing insights about different Apac regions, please visit Apac Business Times.

Visit More : https://apacbusinesstimes.com/business-in-thailand-the-major-benefits-of-starting-your-business-in-a-growing-market/

[palmoilnews]

Hindustan Unilever’s 25% palm oil cut in soaps may seriously impact smallholders, Asian Palm Oil Alliance warns KUALA LUMPUR (June 18): Hindustan Unilever Ltd’s (HUL) decision to reduce palm oil content in its soaps by 25% could have serious implications for millions of oil palm farmers worldwide, particularly smallholders, a grouping of five major palm oil importing countries in Asia — India, Pakistan, Sri Lanka, Bangladesh and Nepal — warned. In a statement on Tuesday, the not-for-profit Asian Palm Oil Alliance (APOA) said it has urged HUL to reconsider its decision, highlighting the broader impact on the incomes of small-scale farmers dependent on oil palm cultivation. HUL, a unit of British-Dutch company Unilever, is India's largest fast-moving consumer goods company. India primarily imports palm oil from Indonesia, Malaysia, and Thailand. According to data from the Malaysian Palm Oil Board, Malaysia exported 2.81 million tonnes of palm oil to India in 2023, accounting for 72% of Malaysia’s total palm oil exports to the South Asian region. APOA was responding to The Economic Times report that HUL is reducing the use of palm and its derivatives in soap by 25% to offset rising palm oil prices and environmental concerns. "While we acknowledge that palm oil prices are currently higher than before the Covid-19 pandemic, this increase is primarily due to rising input costs. Needless to say, palm oil prices are influenced by other edible oil prices, like soya and sunflower oil. To single out palm oil for unwarranted criticism appears a bit unfair and uncalled for," said the alliance. It added that commodity prices are influenced by demand and supply factors, and that palm oil is no different. As such, it urged a balanced perspective that considers the broader socio-economic benefits of palm oil. "Numerous studies in Indonesia, Malaysia, and Ghana highlight its pivotal role in uplifting smallholder livelihoods and reducing poverty. Moreover, initiatives like India's National Mission on Edible Oils-Oil Palm (NMEO-OP) underscore palm oil’s critical contribution to economic empowerment. "The replacing of palm oil with cheaper substitutes undermines global efforts to secure living wages for workers and incomes for farmers. Ironically, Hindustan Unilever advocates 'living income to break the cycle of poverty, unlock true potential and growth, and raise living standards'," APOA highlighted. It pointed out that HUL’s environmental rationale warrants careful scrutiny. "The efficiency of oil palm cultivation in terms of yield per hectare and resource use efficiency remains unmatched by alternatives. Notably, HUL has been a stalwart in promoting sustainability certifications like RSPO (Roundtable on Sustainable Palm Oil) yet reducing palm oil use may undermine these efforts and jeopardise smallholder incomes,” it said. In light of these concerns, the APOA has suggested several actions for HUL’s consideration. These include providing transparent, scientifically supported evidence comparing the environmental impacts of palm oil and its substitutes on an industrial scale, increasing procurement from smallholder farmers, and aligning with NMEO-OP objectives to support sustainable livelihoods. Additionally, it recommended investing in joint initiatives with producers to enhance sustainability practices, including research into sustainable farming techniques and community development.