Addressing the skills gap

Quick Summary:

Recent decisions by two Japanese automakers to close their plants in Thailand affect the country's standing as a leading global car producer, once dubbed the "Detroit of Asia".

Prime Minister Srettha Thavisin said earlier the administration would push ahead with plans to grow the EV industry, while also helping businesses linked to the production of ICE-powered vehicles, such as auto parts, as they played a key role in strengthening the country's automotive industry.

In terms of costs, Thailand faces intensifying competition as other countries not only offer investment incentives, but also grants, free land and, more recently, a global minimum tax (GMT), which is an internationally agreed-upon minimum rate of tax paid by large corporations.

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Article Details

Category: EconomyBusiness

Markets: ThailandChinaHong KongIndiaIndonesiaJapanMalaysiaTaiwanVietnam

Topics: Production Development Government Workers Thailand Investment Country Industries Manufacturing Industry Executive

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-17 @ 05:41:00 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 2259 words

Reading Time: 13 minutes read

Sentences: 92 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 21275008

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About Bangkok Post

Main Topics: EconomyBusiness

Official Website: bangkokpost.com

Update Frequency: 19 posts per day

Year Established: 1946

Headquarters: Thailand

News Last Updated: 3 hours ago

Coverage Areas: Thailand

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #66

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