India’s problem is not about competing with China in South Asia, but managing its messy interdependence with the neighbours with some strategic vision and a lot of tactical finesse.
Raja Mandala: Where Geography Is Destiny
Thailand Travel Mart 2018 set to shine in Pattaya
Bangkok, 10 May, 2018 – The Tourism Authority of Thailand (TAT) has selected Pattaya as the host city for this year’s ‘Thailand Travel Mart Plus Amazing Gateway to the Greater Mekong Subregion’ (TTM+), positioning the event in a new light as the country’s travel sector continues to grow from strength to strength.
Mrs. Srisuda Wananpinyosak, TAT Deputy Governor for International Marketing – Europe, Africa, Middle East and Americas, said: “The TAT is proud to bring the TTM back to Pattaya, one of the country’s most popular travel destinations for both domestic and overseas travellers. This year’s event will showcase luxurious and romantic travel around the Kingdom under our ‘Million Shades of Romance’ promotion.”
The TAT has chosen the Ocean Marina Yacht Club in Pattaya for this year’s TTM+ to create a unique platform during three days of business meetings and fun with travel colleagues.
“After years of meeting indoor, we are ‘opening to the new shades’ of business experience against the beautiful backdrop of the Gulf of Thailand, Mrs. Srisuda said. “The TTM+ 2018 will continue to promote Thailand’s important features, from its rich culture and history to beautiful natural attractions and variety of amenities and accommodation. All combined it makes Thailand an outstanding destination where luxurious, romantic dreams come true.”
The Ocean Marina Yacht Club was chosen as the venue given its capability to hold large events, having hosted over 6,000 visitors at its 2017 boat show last November. Organising the TTM+ 2018 at a marina also supports the Thai government’s push to position Thailand as Asia’s premier sailing and superyacht destination targeting high net worth individuals.
“We are confident that the Ocean Marina Yacht Club is more than capable of hosting a successful TTM+ 2018. We expect it will add its own style and panache, as the…
Industry and Trade Ministry's projects increase losses
Ten out of 12 loss-making projects under the management of the Ministry of Industry and Trade (MoIT) have continued falling in the negative numbers, the ministry’s report said.
Ninh Binh fertilizer plant – one of 12 loss-making projects under the management of the Ministry of Industry and Trade. — Photo vneconomy.vn
According to the report sent by MoIT to the National Assembly (NA) delegates, after a year of implementing solutions following a request from the NA in 2016, some of the projects have shown positive results.
The Quy Xa iron ore mining and quarrying project, the Lao Cai iron and steel plant, and the DAP 1 Hai Phong fertilizer plant have all reported rising profits and falls in accumulated losses.
Loans from commercial banks had decreased by VND193 billion, resting at VND20.8 trillion as of January 31 this year.
However, the ministry said the 10 projects will face difficulties in paying principles and interest to the Viet Nam Development Bank (VDB), and other lenders. Their accumulated losses were VND18.7 trillion at the end of last year, up VND2.6 trillion over 2016.
As of December 31, 2017, the 12 inefficient projects had a total equity of VND33.41 billion, down VND4 trillion over the same period in 2016, while their assets and debts were VND58 trillion and VND58.5 trillion, up by VND366.7 billion and VND3.4 trillion respectively.
According to the ministry, the total initial investment of these 12 projects was some VND43.7 trillion, which was later adjusted up to VND63.6 trillion (an increase of 45.65 per cent). Of this, their equity was VND14.4 trillion, accounting for 22.56 per cent, while loans made up 74.6 per cent, about VND47.5 trillion. The remaining 2.84 per cent came from other sources.
Local bank loans for the projects amounted to VND41.8 trillion, including VND16.9 trillion from VDB. Foreign loans guaranteed by the Government totaled VND6.6 trillion and were used to fund Dung Quat Shipbuilding Industry Company Limited, Ninh Binh fertilizer plant and Phuong Nam paper pulp mill.
The ministry said the projects’ outstanding loans were still high, especially those borrowed by Dinh Vu polyester fiber factory, Quy Xa iron ore mining and quarrying project and the Lao Cai iron and steel plant and Ha Bac fertilizer plant projects.
Loans at VDB have been lowered by VND6.73 billion to VND10.6 trillion. Banks have rescheduled debt payments in terms of payment deadlines, the ministry added. — VNS
Raja Mandala: Reviving an Old Friendship
As India reaffirms the centrality of ASEAN for Asia’s peaceful future this week, New Delhi must back its words with concrete proposals for stronger defense and security cooperation with the region.
Cocobay added to Danang DoC’s black list
$616.7 million Cocobay complex, home to Cocobay Towers where football legend Cristiano Ronaldo registered to buy a condotel, is the latest name on the list of projects without a construction permit in the central city of Danang.
Asia’s property sector driven by economic growth and low interest rates – Investment, Real Estate
Colliers International has reported that Asia’s property sector has been driven by economic growth and low real interest rates.
Higher trade flows and e-commerce will continue driving industrial and logistics property in China, Hong Kong, Singapore and India, with industrial property emerging as a key organised asset class across Asia.
Risks to this sector include a financial downturn affecting equity and bond markets, as well as reduced demand for leased central business district office space from large financial tenants due to faster-than-expected adoption of artificial intelligence and any subsequent workforce reduction programmes.
Forbes’ ranking of the top 10 Asian cities for real estate investment in descending order are Singapore, Shanghai, Hong Kong, Beijing, Guangzhou, Ho Chi Minh City, Tokyo, Taipei, Jakarta and Kuala Lumpur.
Bangkok still offers decent value for money
Experts, however, point to a range of advantages which bolster Bangkok’s reputation as a safe and stable place to invest.
Bangkok’s property market enjoyed strong growth in the first quarter of this year, led by a 35 per cent jump in the number of condominium units released in Bangkok from the year-earlier period.
Some 14,600 units were added to the market in the capital for the quarter, said Surachet Kongchepp, a property market researcher with Surachet’s research showing that up to 66 per cent of the condominium launches are near mass transit systems.
Analysts also point to the absence of punitive stamp duties for foreign nationals such as those found in Singapore and Hong Kong and the liquidity of developers and the selectivity of banks in approving mortgages as positive indicators
Several trends emerging in Asia
Excess liquidity, where local sovereign and…
Examining Civil Society Legitimacy
A series of essays by leading scholars and activists on efforts around the world to improve and defend civil society’s legitimacy.
Thailand 4.0 could benefit MICE tourism – Business, Tourism, Travel
A spate of economic reforms and infrastructure projects are being rolled out under ‘Thailand 4.0’, a large-scale government strategy that aims to elevate the country’s development model.
