Latest news with #EEC
Irish Times
2 days ago
- Business
- Irish Times
An Irish woman in Barcelona: ‘Climate change has made the summer months difficult'
When Ann King left school in the early 1970s, Ireland was just about to enter the old EEC – the European Economic Community , forerunner to the European Union . 'My strength was languages, and I did a one-year course in the Language Centre of Ireland, where I studied French and Italian as well as office/business skills and learned a lot.' At the end of that year socialising with a lot of older students from different countries, the Churchtown woman was 'even less interested in spending three or four years in a university than when I had left school,' she recalls. In the summer of 1972, she worked in Paris, Switzerland and Munich and eventually ended up in Brussels just as Ireland entered the EEC and Patrick Hillery became the first Irish commissioner a year later. READ MORE From 1977 she worked in multinational companies and then Pfizer as an editorial assistant in the clinical research area preparing reports. She stayed for seven years 'and loved it'. When they moved the department to England, where she didn't want to live, she decided to learn another language and went to Barcelona . Apart from two spells in Ireland, 'I have been here ever since, for 45 years – a long time'. Spain at the time was becoming a democracy and she remembers an attempted coup d'état in 1981. 'I was lucky to get a job in the book business in one of Spain's largest bookshops and worked there for seven years in an uptown area of the city.' You can live and never speak the local language but is that what you want? In 1988, when the company moved into the distribution business rather than traditional bookselling, she left and became a specialist medical translator 'and that is what I have been doing ever since. And though I am now retired, I still do bits,' she says. A few years earlier, in 1983, she bought an apartment in the centre of the city near the port, La Rambla and the Liceu Opera House. 'People are always amazed that even though we live in a dense city, it is so quiet. Our back window overlooks the 18th-century San Augustin parish church and the convent of the Missionaries of Charity, and we hear their voices praying in the morning.' She married American Dick Edelstein in 1990, a former English language teacher and translator who is now retired and a poet, the couple live in an 19th-century house built on the convent's monastic cloister. 'I love the fact that the city has very good transport and that most of what you need is in your barrio [neighbourhood] – and where we live you don't need a car. It's a lively city with great social and cultural life – opera, dance, cinema, exhibition, lectures. Theatre is in Catalan. 'There are fiestas for everything and seasonal community events – celebrations of all kinds.' Other advantages include universal healthcare, good schools and beautiful beaches including the city's own Barceloneta. Skiing in the Pyrenees can be reached in a couple of hours by car, there are great connections by air and train and it is easy to get out of the city for the day with a high-speed train to Madrid in under three hours. There are also many beautiful places, towns and villages within an hour of the city. 'Despite rising prices, it is still possible to get a flat,' she says. 'A couple from Dublin recently found a small two-bedroom apartment in my neighbourhood for €1,300 a month, something they could not have dreamed of in Dublin.' The Boqueria market has now been largely abandoned by locals and sells mostly fast food King says disadvantages of life in Barcelona include Spanish bureaucracy, which can be frustrating and confusing. 'You need to apply to get a tax number but there are no appointments. You need a tax number to work, but now because so many people are coming in (one million alone from Latin America) they are not issuing tax numbers and you can't get a tax number unless you have a job. And jobs are no longer as easy to find – there is more supply than demand.' Climate change has also had its effects. 'It has made the summer months difficult in the city. Night-time temperatures above 25 degrees and high humidity make it hard to sleep unless you have air conditioning, which is expensive to install and to run. It is a big city; there are a lot of tourists, especially in the summer months, and some people find this oppressive.' Many people feel they are losing their neighbourhood way of life too, she says, 'which is partly due to modernisation, though politicians, as in Ireland, blame it on Airbnb, tourists and digital nomads. The Boqueria market has now been largely abandoned by locals and sells mostly fast food.' It is an autonomous region. 'You are in Catalonia and not in Spain – with an independence movement and a long history,' she says. 'The language in schools is Catalan, which has more of a French and Provençal structure than Spanish – it's between Italian, Spanish and French and much easier to learn.' 'You can live and never speak the local language but is that what you want? Some foreigners integrate and some don't.' This is not a city where people live close to big green spaces. 'You must take a metro to connect to nature on Montjuic or the Collserola [natural park]. There are lovely hidden squares, however, where thousands of trees have been planted in the last couple of decades and more of the city is pedestrianised than before with great success. But the Barcelona metropolitan area remains densely populated.' She keeps in touch with family in Ireland more now than when she first moved. 'When I first went to Barcelona, it was a question of a phone call once or twice a month. Flights were expensive and there were no direct flights. Cheap air travel changed all that and I have more contact now with family at home than I would have if I lived in Ireland.'
Bangkok Post
5 days ago
- Business
- Bangkok Post
Foreign investment application value surges 37% in first half
In the first half of this year, 502 foreign investors applied to conduct business in Thailand under the Foreign Business Act (FBA), a 30% increase year-on-year. The value of foreign investment for the period amounted to 111 billion baht, up 37% year-on-year, said deputy government spokesman Anukul Pruksanusak. For the first six months of 2025, foreign investors sought permission to operate in Thailand under the FBA via two main channels: business licences for foreigners (123 applicants); and certificates for foreign business operations issued under investment promotion laws (379 applicants), or by gaining permission under Industrial Estate Authority of Thailand laws, or via rights under treaties or international agreements, Mr Anukul said. Approvals during the period rose by 117 cases, or 30% year-on-year, while the value of investment increased by 30 billion baht. The top five countries investing in Thailand for the period comprised Japan (99 cases with investment value of 43 billion baht); the US (72 cases valued at 2.79 billion); China (65 cases valued at 18.3 billion); Singapore (63 cases valued at 17.4 billion); and Hong Kong (51 cases valued at 8.31 billion). He said foreign investment in the Eastern Economic Corridor (EEC) for the period amounted to 158 cases, representing 31% of all foreign investors in Thailand, an increase of 42 cases or 36% year-on-year. The total investment value was 62.9 billion baht, accounting for 56% of all foreign investment in Thailand for the period. In the EEC, investors included Japan (42 cases with investment value of 24.8 billion baht); China (38 cases valued at 13.9 billion); Singapore (15 cases valued at 8.04 billion); and others (63 cases valued at 16.1 billion). Businesses invested in included retail trade, R&D services for engineering plastic products, data centre services, digital platform development services, and contract manufacturing services. "Given the uncertainty surrounding US reciprocal tariffs and the impacts on Thailand's trading partners, as well as border tensions with Cambodia, the government thanks all foreign investors for their confidence and trust in investing in Thailand," said Mr Anukul. "The government is committed to promoting incentives to stimulate investment and providing facilitation to ensure ongoing confidence in Thailand's potential." The FBA aims to regulate the business operations of foreigners in Thailand. Foreigners refers to individuals without Thai nationality and legal entities registered in Thailand with a foreign shareholding greater than 50%. Under this law, businesses are divided into three lists. List 1 covers businesses strictly prohibited to foreigners, such as mass media and agriculture. List 2 includes businesses related to national security, culture and environment that requiring cabinet approval, such as domestic water transport and weapons manufacturing. List 3 covers businesses in which Thais are not yet ready to compete, such as retail, wholesale, advertising, construction and hotels, which require permission from the director-general of the Business Development Department and approval from the committee under this law.
Bangkok Post
5 days ago
- Business
- Bangkok Post
Foreign application value surges 37% in first half
In the first half of this year, 502 foreign investors applied to conduct business in Thailand under the Foreign Business Act (FBA), a 30% increase year-on-year. The value of foreign investment for the period amounted to 111 billion baht, up 37% year-on-year, said deputy government spokesman Anukul Pruksanusak. For the first six months of 2025, foreign investors sought permission to operate in Thailand under the FBA via two main channels: business licences for foreigners (123 applicants); and certificates for foreign business operations issued under investment promotion laws (379 applicants), or by gaining permission under Industrial Estate Authority of Thailand laws, or via rights under treaties or international agreements, Mr Anukul said. Approvals during the period rose by 117 cases, or 30% year-on-year, while the value of investment increased by 30 billion baht. The top five countries investing in Thailand for the period comprised Japan (99 cases with investment value of 43 billion baht); the US (72 cases valued at 2.79 billion); China (65 cases valued at 18.3 billion); Singapore (63 cases valued at 17.4 billion); and Hong Kong (51 cases valued at 8.31 billion). He said foreign investment in the Eastern Economic Corridor (EEC) for the period amounted to 158 cases, representing 31% of all foreign investors in Thailand, an increase of 42 cases or 36% year-on-year. The total investment value was 62.9 billion baht, accounting for 56% of all foreign investment in Thailand for the period. In the EEC, investors included Japan (42 cases with investment value of 24.8 billion baht); China (38 cases valued at 13.9 billion); Singapore (15 cases valued at 8.04 billion); and others (63 cases valued at 16.1 billion). Businesses invested in included retail trade, R&D services for engineering plastic products, data centre services, digital platform development services, and contract manufacturing services. "Given the uncertainty surrounding US reciprocal tariffs and the impacts on Thailand's trading partners, as well as border tensions with Cambodia, the government thanks all foreign investors for their confidence and trust in investing in Thailand," said Mr Anukul. "The government is committed to promoting incentives to stimulate investment and providing facilitation to ensure ongoing confidence in Thailand's potential." The FBA aims to regulate the business operations of foreigners in Thailand. Foreigners refers to individuals without Thai nationality and legal entities registered in Thailand with a foreign shareholding greater than 50%. Under this law, businesses are divided into three lists. List 1 covers businesses strictly prohibited to foreigners, such as mass media and agriculture. List 2 includes businesses related to national security, culture and environment that requiring cabinet approval, such as domestic water transport and weapons manufacturing. List 3 covers businesses in which Thais are not yet ready to compete, such as retail, wholesale, advertising, construction and hotels, which require permission from the director-general of the Business Development Department and approval from the committee under this law.
The Star
6 days ago
- Automotive
- The Star
Chinese firms fuel Thailand's gateway ambitions
Chinese firms have brought higher-value, more complex and novel technologies to Thailand, marking a significant strategic shift away from traditional manufacturing. — Xinhua BANGKOK: Chinese investment is driving a wave of high-value projects in Thailand's Eastern Economic Corridor (EEC), focusing on advanced technology sectors and fuelling the country's ambition to become a crucial global export hub, a top EEC official says. Initiated in 2017, the EEC is Thailand's flagship area-based development project, designed to transform three eastern provinces into a leading economic zone for high-tech industries through massive infrastructure upgrades and attractive investment incentives. As a key foreign investor, Chinese firms have brought higher-value, more complex and novel technologies to Thailand, marking a significant strategic shift away from traditional manufacturing, said Chula Sukmanop, secretary-general of the EEC Office. 'The emergence of advanced Chinese technologies made in Thailand has strengthened the kingdom's goal to be a gateway for exporting high-tech products,' Chula told Xinhua in an interview. This trend is most evident in the automotive industry, where leading Chinese brands, including BYD, Changan, GAC Aion, Great Wall Motor and MG, have established production facilities within the EEC to serve both Thai markets and export destinations. Beyond car manufacturing, Chinese investment has developed the entire supply chain and infrastructure for electric vehicles (EVs), encompassing batteries, charging stations, energy storage and related components, Chula noted. Thailand's Board of Investment has so far approved investments totalling 137.7 billion baht (US$4.25bil) in the EV supply chain, including 21 projects for battery EV production with a combined capacity of up to 386,000 units per year. For the first half of 2025, production of passenger battery EVs increased 380% year-on-year to 23,798 units, accounting for 3.28 % of total auto manufacturing in Thailand, data from the Federation of Thai Industries showed. Under the Thai government's investment promotion, the South-East Asian country aims to convert 30% of its annual auto production to zero-emission vehicles by 2030 as part of its transition towards green mobility. Aside from the automotive sector, Chula said two other areas of interest for Chinese investors that also align with the government's targeted industries are the digital technology sector and the Bio-Circular-Green (BCG) economy, which focuses on sustainable and circular manufacturing. Looking ahead, Chula emphasised that Thailand aims to be a strategic partner for China, filling gaps and providing a platform to showcase its advanced technology, building on the golden jubilee of Thai-Sino diplomatic relations and a strong people-to-people connection. — China Daily/ANN
The Star
7 days ago
- Automotive
- The Star
Chinese investment fuels Thailand's ambition as global export gateway: Thai official
BEIJING: Chinese investment is driving a wave of high-value projects in Thailand's Eastern Economic Corridor (EEC), focusing on advanced technology sectors and fueLling the country's ambition to become a crucial global export hub, a top EEC official has said. Initiated in 2017, the EEC is Thailand's flagship area-based development project, designed to transform three eastern provinces into a leading economic zone for high-tech industries through massive infrastructure upgrades and attractive investment incentives. As a key foreign investor, Chinese firms have brought higher-value, more complex, and novel technologies to Thailand, marking a significant strategic shift away from traditional manufacturing, said Chula Sukmanop, secretary-general of the EEC Office. The emergence of "advanced Chinese technologies made in Thailand" has strengthened the kingdom's goal to be a gateway for exporting high-tech products globally, Chula told Xinhua in a recent interview. This trend is most evident in the automotive industry, where leading Chinese brands, including BYD, Changan, GAC Aion, Great Wall Motor, and MG, have established production facilities within the EEC to serve both domestic Thai markets and export destinations. Beyond car manufacturing, Chinese investment has developed the entire supply chain and infrastructure for electric vehicles (EVs), encompassing batteries, charging stations, energy storage, and related components, Chula noted. Thailand's Board of Investment has so far approved investments totalling 137.7 billion baht ($4.25 billion) in the EV supply chain, including 21 projects for battery EV production with a combined capacity of up to 386,000 units per year. For the first half of 2025, production of passenger battery EVs increased 380% year-on-year to 23,798 units, accounting for 3.28% of total auto manufacturing in Thailand, data from the Federation of Thai Industries showed. Under the Thai government's investment promotion, the country aims to convert 30% of its annual auto production to zero-emission vehicles by 2030 as part of its transition toward green mobility. Aside from the automotive sector, Chula said two other areas of interest for Chinese investors that also align with the government's targeted industries are the digital technology sector and the Bio-Circular-Green (BCG) economy, which focuses on sustainable and circular manufacturing. Looking ahead, Chula emphasised that Thailand aims to be a strategic partner for China, filling gaps and providing a platform to showcase its advanced technology, building on the golden jubilee of Thai-Sino diplomatic relations and a strong people-to-people connection. The goal includes expanding cooperation in the broader environmentally friendly mode of transport, ranging from electric buses, trucks, and railways to the development of "green ports" with electric-based operations, many of which are expected to utilise technologies originating from China, he said. With China's substantial investment in research and development, he expressed hope that Thailand will become an ideal ground where "research-based technology" can be transformed into commercial products for the global market. - Xinhua
