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Illustrative image (Photo: nation thailand .com) Bangkok (VNA) - Thailand's domestic car and motorcycle sales may suffer the brunt if Thai financial institutions are affected by the risk of bank failures in the US and Europe, according to the Federation of Thai Industries (FTI). The concern was raised after US and European banking executives and regulators stepped in to save California-based Silicon Valley Bank, New York-based Signature Bank and 167-year-old Credit Suisse in Switzerland from potential crisis. Surapong Paisitpatanapong, FTI Vice Chairman, said that if the financial turbulence cannot be contained, the global financial system will be affected, which may eventually have a negative impact on Thai banks and non-banks that grant loans to car and motorcycle buyers. The FTI is closely monitoring whether global financial institutions will face an impact, he said. The FTI’s Automotive Industry Club predicted that if the Thai auto industry is not … [Read more...] about Thailand’s car, motorcycle sales may be affected by bank failure risk

Visas, service quality, and technology were all part of discussions on a better-performing tourism sector Photo: Cuong Minh May’s National Assembly session is likely to help push ahead a revamp of the country’s rules on entry and exit for foreign visitors, after the Ministry of Public Security crafts amendments to the current law. The development will be an important basis for the issuance of new regulations related to the visa policy, removing difficulties for the tourism industry, and creating conditions to attract more international visitors this year, according to most observers. Dang Tuan Viet, deputy director of the Ministry of Public Secrutity’s (MoPS) Vietnam Immigration Department, said that the proposal emphasised two major areas related to unilateral visa exemption and electronic visa policy. The MoPS also proposes to expand the number of countries that can issue e-visas from 80 countries to the maximum. The MoPS will also ask to increase the temporary stay … [Read more...] about Visa upgrade at heart of fresh approach to tourism

Vietnam is in need of a national digital tourism map which features tourism resources, destinations, and service providers to support tourists as well as local tourism service providers. The proposal on the digital map has been made and attracted the attention of local enterprises, but it has yet to be rolled out. Nguyen Quoc Ky, chairman of Vietravel Holdings, a local travel firm, said the digital tourism map would meaningfully increase the competitiveness of Vietnam’s tourism sector and help sell more tours at higher prices. Thailand has well-connected tourism systems, including travel, lodging, and transport services. Thus, their tour prices are stable and reasonable. At a recent meeting to seek solutions for the local tourism development, Nguyen Huy Dung, Deputy Minister of Information and Communications, also suggested a digital tourism map for tourists as all travelers have a demand for information during their trips. “In the short term, a professional national website … [Read more...] about Vietnam needs digital tourism map