Thai manufacturers urged to shift to renewable energy to reduce costs
The Ministry of Industry of Thailand has emphasized the importance of manufacturers seriously embracing renewable energy, highlighting higher electricity bills as a critical factor in bringing firms’ attention to this issue.
Bangkok (NNT/VNA) - The Ministry ofIndustry of Thailand has emphasized the importance of manufacturers seriouslyembracing renewable energy, highlighting higher electricity bills as a criticalfactor in bringing firms’ attention to this issue.
The Office of Industrial Economics (OIE) statedthat the industrial sector should consider shifting towards renewable energy inorder to alleviate the financial burden caused by rising electricity bills.Using renewable energy such as biomass or solar power could be implementedalongside efficient management of electricity usage to lower costs.
OIE Director-General Warawan Chitaroon said thegovernment is aware that higher electricity prices will affect businesses, butthe Energy Regulatory Commission can only slightly reduce a planned increase inthe power tariff which is used to calculate electricity bills, from 20.5% to13%. The increase in the power tariff, from 4.72 THB per kilowatt-hour (unit)to 5.33 THB per unit, will result in a variety of increased manufacturingcosts, depending on the sector.
The fuel tariff (Ft) is a key factor in the powertariff and is determined by the fuel cost for energy generation in the country.Thailand’s Ft is high when compared to neighboring countries, with the OIEreporting that the country’s Ft rate ranks third in ASEAN, behind Singapore andthe Philippines.
The Federation of Thai Industries also expressedconcerns in regard to the country’s Ft, stressing that high energy prices candeter foreign investments or force manufacturers to cancel existing contractsfor business in the country.
On the occasion of the new year 2023, Thai Ambassador to Vietnam Nikorndej Balankura has granted Vietnam News Agency an interview, during which he expressed optimism about the future prospects of the Vietnam-Thailand ties in 2023 when the two countries celebrate the 10th anniversary of their strategic partnership.
Thailand has successfully registered geographical indication (GI) for Thung Kula Rong Hai hom mali rice and Sangyod Muang Phatthalung rice in Indonesia, bringing the number of Thai GI products in Indonesia to three, beside Lamphun brocade silk which was registered in 2016.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Illustrative image (Source: thainews.prd.go.th)
