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Global Minimum Tax: New Rule, Challenges, and ASEAN’s Response

How prepared is Thailand for the introduction of the EU carbon tax?

Automobile production is projected to expand gradually by 0.5-1.5% per year during 2026-2028, driven by increased manufacturing investment and excise tax reductions for hybrid vehicles (HEVs and MHEVs).

Total new sales and leases of land on industrial estates is forecast to expand by some 4.0-5.0% annually over 2025-2027, or by approximately 7,000 rai per year. Tailwinds lifting the market will come from: (i) gradual recovery of the world economy and improved investor sentiment overseas, (ii) the diversion of investment away from the major economies, most obviously China, and towards the ASEAN zone; (iii) an uptick in the pace of work on government-backed infrastructure projects, especially in the EEC; and (iv) government tax and non-tax incentives

Total new sales and leases of land on industrial estates is forecast to expand by some 4.0-5.0% annually over 2025-2027, or by approximately 7,000 rai per year. Tailwinds lifting the market will come from: (i) gradual recovery of the world economy and improved investor sentiment overseas, (ii) the diversion of investment away from the major economies, most obviously China, and towards the ASEAN zone; (iii) an uptick in the pace of work on government-backed infrastructure projects, especially in the EEC; and (iv) government tax and non-tax incentives

Krungsri Research projects conditions for the Thai sugar industry would improve in 2021-2023 along with the recovery of the overall economy, stronger demand from downstream industrial consumers, especially the food and beverage industry. There are also expectations of better climate, which would boost sugarcane output and sugar production. However, the industry is facing several challenges, including high sugar inventory worldwide and the effect on global sugar prices, imposition of sugar tax in many countries, rising awareness of personal health globally, and lingering uncertainty over government regulations for the industry, especially the reform of the Sugarcane & Sugar Act and its potential impact on operators’ margins and earnings.

Through 2019, the housing market in the Bangkok Metropolitan Region (BMR) is expected to keep growth flat or slow down due to a high base effect in 2018. The market will also encounter headwinds in the form of: (i) the new, stricter regulations governing housing debt that determine loan limits on a loan-to-value ratio; (ii) the introduction of the Land and Building Tax Act, which will come into effect in 2020; and (iii) a weakening of the spending power of overseas (and especially Chinese) buyers caused by a softening of the world economy. These factors may then feed into higher operating costs, and a decline in both investor confidence and the willingness of buyers to purchase new properties. However, in 2020 and 2021, the market is expected to rebound on the effects of government spending on major infrastructure projects and on greater demand for accommodation from non-Thai buyers investing or working in Thailand.

ASEAN economy would contract more-than-expected as extended COVID-19 impact will derail regional recovery

Despite the heightened uncertainty in global trade and investment caused by trade policies under President Trump’s second term (“Trump 2.0”)

US and Japan face growing risks to growth and fiscal stability. Impact of trade wars on Chinese economy may ease only temporarily