What's new in business news: October 11, 2013 | Bangkok Post: learning

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What's new in business news: October 11, 2013

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Trade deals with China, Swiss Alzheimer's resort in Chiang Mai & surge in Cassava for energy exports to China. 

China's Premier Li Keqiang, left, greets Prime Minister Yingluck Shinawatra at a cake-cutting ceremony to celebrate bilateral relations during the 16th Asean-China Summit at the International Convention Centre in Bandar Seri Begawan on Wednesday. The two will meet again when Mr Li begins his three-day visit to Thailand on Friday. (EPA photo)

INTERNATIONAL TRADE & INVESTMENT

Trade & investment deals with China

Thailand's Board of Investment (BoI) has agreed to form a partnership with China Development Bank Corporation (CDB) to promote direct investment between the countries. A memorandum of understanding (MoU) will be signed today as the Chinese Premier arrives in Thailand for a two-day visit. The BoI has worked with CDB since 2011. 

In the past six years, Chinese investors in Thailand have led 11 projects worth 118 billion baht. In the first eight months of this year, Chinese firms ranked second among foreign investors in Thailand, with 28 projects worth 18 billion baht submitted to the BoI, mainly involving metals, parts, natural rubber and tyres, and electronics.

Thailand aims to attract more investments in high value-added sectors such as natural rubber, agricultural machinery, automobiles and electronics. Major Chinese investors in Thailand are home appliance company Haier, CIMC Vehicle and tyre maker LLIT.

China has expressed interest in investing in high-speed railways between Bangkok and Nong Khai as they can be linked to the southern Chinese city of Kunming via Laos but the government has not struck a special barter deal with China to swap Thai farm produce for Chinese investment in high-speed rail. The government still plans to hold a bidding contest for the high-speed railway projects, which will allow every country to participate20-30% of the cost of high-speed railways goes to train equipment procurement.

One rice trader says that China prefers purchasing rice from private Thai traders as it still has no confidence in the quality of the government's rice stock and Democrat leader Korn Chatikavanij pointed out that barter trade deals were not needed these days because there are already markets for each product. Rice should be sold on the rice market, where the government is likely to get the best price. Money from rice sales then can be used to buy trains or other products as needed.

[Read full story deal" >here and here ]

AGRICULTURE 

Surge in Cassava for energy exports to China

Thailand's tapioca product shipments are expected to exceed 100 billion baht this year, driven mainly by an import surge by China. This will exceed the Commerce Ministry forecast of 90 billion baht. The export surge is partially driven by lower supply from Vietnam and Indonesia. China imported tapioca products from Thailand worth 46.2 billion baht last year, a surge of 53% from 2011.

Cassava roots now fetch relatively high prices at 2.6 to 2.9 baht per kilogramme, above the government's pledging price. The National Tapioca Policy Committee decided in May to scrap the cassava subsidy for the 2012-13 season, as tapioca prices recovered thanks to high demand in the alternative energy sector for use in ethanol production, especially in China. 

[Read full story here ]

HEALTH TOURISM 

Swiss Alzheimer's resort being built in Chiang Mai 

Vivo Bene AG, a Swiss nursing and personal care company, is investing 250 million baht to develop a nursing home project for Alzheimer's patients in Doi Saket, Chiang Mai. The 22-rai resort is now under construction and scheduled to be completed by the end of January next year. The resort can accomodate 90 Alzheimer's patients in Lanna-style buildings. Doi Saket was chosen for its natural surroundings and friendly nearby community. The project will create 144 local jobs.

Switzerland has an ageing population. Last year, the country had 8.02 million people and 20.6% were 61 or older. In 2010, there were 125,000 Swiss with Alzheimer's, or 1.6% of the population and the figure will rise to 160,000 or 1.91% in 2020 and 218,000 or 2.5% in 2030.

The cost for in-home care for Alzheimer's patients in  Switzerland is 12,700 Swiss francs per month (438,000 baht) for patients with a level 7 condition (there are 12 levels). The Swiss pension amounts to 180,000 to 200,000 baht per month. The project will offer nursing services to Alzheimer's patients for 5,800 francs per month (197,200 baht). 

[Read full story here ]

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Vocabulary:

accomodate: provide a place to stay and live, such as in a hotel or nursing home -

ageing: growing old - สูงวัยขึ้น

agricultural: of the science or practice of farming - ที่เกี่ยวกับเกษตรกรรม

aim: to have as your purpose or goal - มีเป้าหมาย มีจุดมุ่งหมาย

alternative: something that is different from something else, especially from what is usual, and offering the possibility of choice - ทางเลือก

appliance: a machine or piece of equipment that you have in your home, for example a washing machine or refrigerator - เครื่องใช้

attract: to cause someone to be interested in something - ดึงดูดความสนใจ

barter: to exchange goods, property, services, etc. for other goods, etc. without using money - แลกเปลี่ยนสิ่งของต่อสิ่งของ

bidding: offering to buy/sell something at a specific price - การยื่นเสนอราคา

bidding contest: a situation in which suppliers/contractors submit competing bids to provide a service or product -

bilateral relations: relations involving two countries - ความสัมพันธ์ระหว่างสองประเทศ

Board of Investment (BOI): an agency of the Government of Thailand to promote investment in the country - สำนักงานคณะกรรมการส่งเสริมการลงทุน

care for: to look after somebody who is sick, very old, very young, etc. - ดูแล

cassava: a tropical plant with roots that can be cooked and eaten or made into flour - มันสำปะหลัง

celebrate: to do something enjoyable in order to show that an occasion or event is special - ฉลอง

ceremony: a formal public event - งานพิธี

committee: a group of people who are chosen, usually by a larger group, to make decisions or to deal with a particular subject - คณะกรรมการ

community: the people living in one particular area - ชุมชน

confidence: the quality of being certain - ความมั่นใจ

construction: the work of building or making something, especially buildings, bridges, etc. - การก่อสร้าง

deal: a formal agreement, especially in business or politics - ข้อตกลง, การตกลงซื้อขาย, การซื้อขาย

demand: the need and desire of people to buy goods - อุปสงค์

direct: going straight to a place (not "going to other places first" which is "indirect") - ตรงไป, ไม่เบี่ยงเบน

driven by: caused by -

equipment: the things that are needed for a particular purpose or activity - อุปกรณ์, เครื่องมือ

especially: more with one person, thing, etc. than with others, or more in particular circumstances than in others - โดยเฉพาะอย่างยิ่ง

exceed: to be more than something; to go beyond a limit - เกินกว่าที่กำหนด

express: to tell someone about a feeling, opinion, or aim by speaking or writing about it - แสดงออก (ทางความคิดหรือความรู้สึก) โดยใช้คำพูดหรือการเขียน, พูดออกมา

fetch: to be sold for a particular amount of money - ขายในราคาหนึ่ง

figure: a number representing a particular amount, especially one given in official information - ตัวเลข, จำนวนเลข

firm: a business or company - บริษัท

forecast: a statement about what will happen in the future based on information available now - การพยากรณ์, การคาดการณ์

foreign direct investment: FDI, money that people or companies of one country invest in another country by buying property, building factories, buying businesses, etc -

greet: to say hello to somebody or to welcome them - ต้อนรับ, ทักทาย

international: connected with or involving two or more countries - นานาชาติ, สากล, ระหว่างประเทศ

investment: the act of investing money in something - การลงทุน

investor: a person or organization that invests money, i.e., uses money with the aim of making a profit from it, for example by buying property or buying shares in a company - นักลงทุน

involve: to be an important or necessary part or result of something - เกี่ยวพัน, เกี่ยวข้อง, พัวพัน

level: a position or rank in a scale of size or importance - ระดับ

linked: connected - เชื่อมต่อ เชื่อมโยง

machinery: a piece of equipment or device that does something and gets its energy from electricity or gas - เครื่องจักร, เครื่องกล

memorandum of understanding (MOU): a document used to describe a form of a written agreement between two or more groups, countries, etc. The document is not as strong as a contract but outlines a commitment between the two to work together toward the same purpose or goals -

metal: a type of solid mineral substance that is usually hard and shiny and that heat and electricity can travel through, for example tin, iron and gold - โลหะ

natural: existing in nature; not made or caused by humans - เป็นธรรมชาติ, ตามธรรมชาติ

nursing: the job or skill of caring for people/animals who are sick or injured - การพยาบาล

nursing home: a special place to look after people who are weak and need someone to take care of them because they are old or sick - สถานดูแลคนชราหรือคนไม่แข็งแรง, บ้านพักคนชรา, สถานพยาบาล, สถานที่ดูแลรักษาคนสูงอายุหรือคนที่ไม่แข็งแรง

partially: in part, but not completely - บางส่วน

participate: to take part in something - เข้าร่วม

partnership: when a company owns and runs a business and shares profits, etc or with another company - หุ้นส่วน, ความร่วมมือ, ห้างหุ้นส่วน, ห้างหุ้นส่วนจำกัด

patient: someone who is receiving medical treatment - คนป่วย, คนไข้

pension: money that someone regularly receives after they have stopped working because of their age, paid either by their company or by the government - บำนาญ, เงินบำนาญ

personal: your own; not belonging to or connected with anyone else - เป็นส่วนตัว

pledge price: the price at which the government promises to buy rice from farmers - ราคาจำนำข้าว

point out: to mention something in order to give somebody information about it or make them notice it - ชี้ให้เห็น, บ่งชี, ชี้, ระบุ

policy: a set of plans or action agreed on by a government, political party, business, or other group - นโยบาย

population: a particular group of people or animals living in a particular area - กลุ่มที่อาศัยอยู่ในที่เดียวกัน

prefer: to like or want more than anyone or anything else - ชอบมากกว่า

premier: prime minister - นายกรัฐมนตรี

procurement: the process of buying supplies or equipment for a government department or company - การจัดซื้อวัสดุ เครื่องมือสำหรับบริษัท หรือหน่วยงานของรัฐ

produce: things that have been made or grown, especially things connected with farming - ผลผลิต, ผลิตผล

project: a planned piece of work that is designed to find information about something, to produce something new, or to improve something - โครงการ

promote: to encourage or support something - สนับสนุน

purchase: to buy something - ซื้อ

quality: the standard of something when it is compared to other things like it; how good or bad something is - คุณภาพ

rail line: a track with rails on which trains run; a system of tracks, together with the trains that run on them - เส้นทางของรถไฟ, ระบบทางรถไฟ, รางรถไฟ

rank: to put someone or something into a position according to their success, importance, size etc - จัดลำดับ

recover: to become normal and healthy again - ฟื้นฟูสภาพ

relatively: somewhat; in comparison with someone or something similar - ค่อนข้าง

rubber: a bouncy, elastic material used in car tires and waterproof gloves - กล้ายาง

scheduled: planned to happen at a particular time or day - ตามตารางเวลา

scrap: to get rid of; to stop using or accepting - เลิก, ทิ้ง

season: a period of time during the year - ช่วงเวลา, ระยะเวลา, ฤดูกาล

sector: a part of a country’s economic or business activity - ภาค (เศรษฐกิจ)

shipment: a load of goods that are sent from one place to another - ปริมาณสินค้าที่ขนส่งในครั้งหนึ่ง ๆ

sign a contract: agree to do something in exchange for something such as money - เซ็นสัญญา

stock: an amount of something that you keep so that you can use it when you need it - ที่เก็บไว้ในสต๊อก

strike a deal: make a deal or agreement -

submitted: formally given to someone, usually, but not always, so that they can make a decision about it - ยื่น

subsidy: an amount of money that a government or organisation pays to help to reduce the cost of a product or service - เงินชดเชยที่รัฐเป็นผู้จ่ายให้

summit: a meeting or a series of meetings between leaders of two or more countries - การประชุมสุดยอด

supply: an amount or quantity of something that is available to buy or use; use the amount of a good available in a market to buy - อุปทาน

surge: a sudden increase in something - การเพิ่มขึ้นอย่างรวดเร็ว

surroundings: the area around something - บริเวณโดยรอบ

swap: to exchange something for something else - แลกเปลี่ยน

tapioca (cassava): a tropical plant with roots that can be cooked and eaten or made into flour - มันสำปะหลัง

these days: now, during this period of time -

trade: the buying and selling of goods and services - การค้าขาย

trader: someone who buys and sells things - ผู้ค้า

under construction: being built - กำลังสร้าง

worth: having a value in money, etc - มีค่า, มีมูลค่า

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