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https://www.nationthailand.com/business/40014786

The government still has room to borrow another THB1.3 trillion before it reaches the 70 per cent ceiling of public debt as a ratio of gross domestic product, a source from the Finance Ministry said.

Public Debt Management Office (PDMO) director Patricia Mongkhonvanit said on Thursday that there was still room for the Finance Ministry to borrow more loans, but the government will have to issue a special law to permit the borrowing.

She said all the borrowings must comply with existing laws and must clearly state the reasons, the urgency and objectives.

The PDMO director did not elaborate on the amount of money the government could borrow, but the source explained that the 70 per cent ceiling could allow the government to borrow another THB1.3 trillion.

The Finance Ministry source was speaking after Prime Minister Prayut Chan-o-cha said on Tuesday that he had asked the Finance Ministry to seek more loans for providing more subsidy packages, especially a new phase of the co-payment scheme, to the public.

The source said only THB70 billion are left of the loans borrowed under the THB500-billion borrowing decree. If the government wants to spend more than THB70 billion, the government would have to issue another decree to allow the borrowing.

If no new decree is issued, the government may divert the budget from the central fund or use advance payments, the source said. The government is allowed by the Budgetary Procedures Act BE 2561 (2018) to use advance payments with a ceiling of THB50 billion.

According to the source, the THB500-billion loans have been allocated in three categories:

— THB110 billion for medical and public health purposes

— THB220 billion for providing remedies to people affected by Covid-19

— THB170 billion for economic and social recoveries.

The source added that the Finance Ministry has not yet confirmed whether it would launch the fifth phase of the Khon La Krueng (half-half) co-payment scheme.

If the ministry goes ahead with the new phase of the scheme, it would need about THB39 billion if the grant of THB1,500 per person is approved to 26 million citizens, the source added.

Meanwhile, Fiscal Policy Office director Pornchai Thiraveja, who is also the spokesman of the Finance Ministry, said the fourth phase of the Khon La Krueng scheme will end in 10 days so those who have not used up the subsidy should hurry up.

He said the grant of THB1,200 has been given to 26.38 million citizens under the fourth phase. So far, 12.69 million people have used up the subsidy and 120,000 people have not spent any of the grant, the spokesman added.

As of April 19, a total of THB60 billion has been spent under the fourth phase of the Khon La Krueng scheme by 26.26 million subsidy receivers.

He said 1.35 million shops have joined the programme.

Published : April 21, 2022

By : THE NATION

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https://www.nationthailand.com/business/40014767

The Stock Exchange of Thailand (SET) Index is expected to fluctuate between 1,670 and 1,690 points on Thursday after the US Federal Reserve signalled it would raise the interest rate gradually to prevent an impact on US economic recovery, Krungsri Securities said.

However, it predicted that the ongoing Russia-Ukraine war, as well as mass sell-offs of shares in line with signs of overbought stocks, would pressure the index.

It recommends purchase of the following companies’ shares:

• AOT, AAV, BA, Mint, Centel, ERW, CPN, CRC, HMPro, CPAll, Makro, Amata and WHA, which would benefit from countries reopening.

• Top, SPRC, BCP and IVL, which would gain from the rising gross refining margin.

• BDMS, BH, Intuch, Advanc, BTS and BEM, which can tolerate market volatility.

The SET Index closed at 1,680.35 on Wednesday, up 4.73 points or 0.28 per cent, thanks to mass buy-ups of bank shares on hopes that their first-quarter net profit would rise, Krungsri Securities added.

Transactions totalled 69.12 billion baht with an index high of 1,685.90 and a low of 1,675.58.

Published : April 21, 2022

By : THE NATION

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https://www.nationthailand.com/business/40014760

The baht opened at 33.81 to the US dollar on Thursday, weakening from Wednesday’s close of 33.76.

Krungthai Bank market strategist Poon Panichpibool predicted the Thai currency would move between 33.75 and 33.90 during the day.

Poon said the baht would swing sideways as it was pressured by dividend transactions and gold sales after investors were waiting for the price of the precious metal to rebound back to its resistance level of 1,980-2,000 dollars per ounce.

He expected exporters to sell the dollar at 33.80-34 as long as the market did not turn heavily risk-averse, which would add pressure to the baht.

Poon suggested monitoring foreign investor transactions. He said there was a chance the baht could test the key resistance level of 34 if foreign investors sold a large amount of stocks and bonds.

With high volatility in the currency market, businesses should use hedging tools such as options to manage risks, he advised.

Published : April 21, 2022

By : THE NATION

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https://www.nationthailand.com/business/40014755

Thailand has urged Vietnam to negotiate with China on opening their three checkpoints round the clock to facilitate the export of fruits.

Deputy Prime Minister and Minister of Commerce Jurin Laksanawisit said he had made the suggestion to Vietnam’s Minister of Industry and Trade, Nguyen Hong Hsien, during the fourth meeting of the bilateral Joint Trade Committee in Bangkok.

Jurin said he had suggested to the Vietnamese minister to negotiate with the Chinese government on keeping the three checkpoints at Youyguan, Pingxing and Dong Dang open 24 hours, which would facilitate the delivery of Thai fruits.
Currently Youyguan, bordering Vietnam’s Wu Ngi checkpoint, and the Pingxiang railway checkpoints are open from 8am to 7pm. 

Meanwhile, Vietnam’s Dong Dang railway checkpoint is open for business from 8.30am to 6pm. 
Opening the checkpoints for longer hours will help the smooth movement of Thai fruits to China. Currently exporters are worried about their consignments to China getting spoilt. If all three checkpoints are open 24 hours a day, it would alleviate the suffering of exporters, Jurin said.

Next month, Thai fruits will reach their peak season. Jurin said the ministry has written to the Chinese government to discuss the problems faced by Thai fruit exporters in transporting their consignments.
 

Jurin requested additionally that Vietnam and China expand the Green Lane to facilitate the delivery of Thai products through the Covid-19-free process according to the standards to enter China faster, and also increasing staffing.

During the meeting, Vietnam also requested Thailand to expedite the issuance of licences for import of five types of fruit — grapefruit, custard apple, passion fruit, star apple or milk fruit and rambutan — while Jurin proposed that the matter be resolved using the MoU channel established with the Thai Ministry of Agriculture and Cooperatives as a dialogue forum.

Jurin also requested Vietnam’s assistance in promoting trade shows, particularly the Mini Thailand Week, which will be held in Can Tho from May 20-22, and in Quang Ninh from June 16-19, and Thai products in the Vietnamese markets. Nguyen suggested that Thailand use Vietnam’s online platforms as a channel, such as Shopee, Lazada, Vietnam Tikki, and Sendo.

The fourth Thai-Vietnam Conference will cover a wide range of subjects in the coming months, including resolving Vietnam’s trade imbalance with Thailand and the worldwide economic impact of the Russia-Ukraine conflict.

Published : April 21, 2022

By : THE NATION

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https://www.nationthailand.com/business/40014754

The Energy Ministry is seeking ways to mitigate the impact of rising diesel price in May, Energy Minister Supattanapong Punmeechaow said on Wednesday.

He confirmed that the government would pay 50 per cent subsidy on diesel price exceeding 30 baht per litre from May 1. The previous policy, controlling diesel price at not more than THB30 per litre, ends on April 30.

He said the Commerce and Finance ministries are concerned that diesel price at THB35 per litre due to rising oil price would be too high.

“If we raise diesel price to 35 baht per litre, we have to monitor inflation and the impact on citizens, as transportation costs will rise immediately,” he said.

He said the Oil Fuel Fund Office has prepared plans to tackle rising diesel price, such as raising diesel price to THB32 per litre along with monitoring the oil fund flow, discussing diesel excise tax reduction and determining diesel price based on Asean prices.

“If global fuel prices continue to rise, we have to evaluate how long diesel price can be maintained at THB32 per litre and whether there will be an extension on the diesel excise tax reduction period,” he said.

He said raising diesel prices gradually and comparing prices with neighbouring countries are good ideas if the oil fund has to continue paying subsidies of more than THB10 per litre.

He added that the Energy Ministry has cooperated with the Finance Ministry to boost confidence among financial institutions on granting loans for the oil fund, expected to conclude by April this year.

According to the Energy Policy and Planning Office, the real diesel price is THB41.15 per litre.

Published : April 20, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40014751

Deputy Prime Minister and Energy Minister Supattanapong Punmeechaow is leading a delegation to Japan aimed at inviting Japanese businesses to invest in electric vehicles and high-tech industries in Thailand.

Duangjai Asawachintachit, secretary-general of the Board of Investment, said Supattanapong’s roadshow, with the Thai economic team, was scheduled to visit Tokyo and Kanagawa from Tuesday to Saturday.

The delegation also included Thai representative ML Chayothit Kridakorn.

Duangjai said it was the first official trip by the Thai government to Japan since the Covid-19 pandemic.

The BOI secretary-general said that as the pandemic situation has started to ease and several countries are beginning to open up, the Thai government has decided to start making overseas trips to invite foreign investors to invest in the Kingdom.

The trip is a roadshow held by the BOI to promote investment and to create confidence among foreign investors, she added.

The Japan trip was aimed at continuing the “co-creation initiative” between Thailand and Japan that would lead to investments under the Asia-Japan Investing for the Future Initiative (AJIF), Duangjai added. She said the two nations had jointly announced the AJIF in January.

Duangjai said Supattanapong would later meet Hirokazu Matsuno, the Japanese Cabinet secretary-general, and Japan’s Trade and Industry Minister Hagiuda Koichi as well as meet representatives of the Japan Business Federation.

She said the Thai deputy prime minister would also meet representatives of large Japanese corporations of the automobile and electronics industries to present Thailand’s policies that emphasise the EV and smart electronic, Bio-Circular-Green, and tourism and services industries.

The deputy prime minister will highlight that the Thai government has issued several measures to support and facilitate investments in EV manufacturing, which is a target industry for the country. Supattanapong would point out that it would be a good chance for Japanese investors to invest in the EV industry in Thailand.

Supattanapong would also highlight during the trip that the Thai government has a policy to invite Japanese businesspeople and investors to stay in Thailand by granting long-term resident visa of up to 10 years.

She said the deputy prime minister would point out that Japanese people are the target group for LTR visas because they have advanced skills.

Published : April 20, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40014749

The Thailand Pavilion at the World Expo 2020 Dubai was a great success, drawing some 2.35 million visitors, Digital Economy and Society Minister Chaiwut Thanakamanusorn said on Wednesday.

Chaiwut, who was in charge of the show by Thailand at the marketing and branding fair in Dubai, said the number of visitors to the Thailand Pavilion made up 9.8 per cent of all visitors to the expo.

The expo began on October 1 and concluded on March 31.

The Thailand Pavilion was the fourth most-visited pavilion, behind Saudi Arabia, Pakistan and the United Arab Emirates, Chaiwut added.

He said the statistics of visitors to the pavilions were compiled by Google Public.

The Thailand Pavilion also won “Honourable Mention” in the Editor’s Choice Award category of Exhibitor Magazine, which is a publication recognised by industries and global trade fairs.

Chaiwut said Thailand’s exhibition at the expo was a huge success due to four key factors.

First, more than 60 young entertainers and staff at the exhibition devoted themselves to the show. The staff spent six months in Dubai to represent Thailand at the show, the minister said.

Second, the exhibition by Thailand was supported by over 30 government agencies and several private firms to present handicrafts and digital innovations by Thais.

Third, the Foreign Ministry continued to support with its foreign policies to tighten ties with the hosts, the UAE, following 45 years of bilateral ties. Thailand also used the expo as a stage to discuss cooperation with other countries, Chaiwut said.

Fourth, Chaiwut said, the success should also be credited to cooperation from all Thais.

The minister added that Thailand also used the expo venue to express its potential to use digital technologies for development and for creating digital innovations.

Published : April 20, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40014748

Ready-to-cook and ready-to-eat Thai food has become piping hot among consumers due to changes in their eating habits amid the Covid-19 crisis, Department of International Trade Promotion (DITP) director-general Phusit Rattanakul Sereeruengrit reported on Wednesday.

He said several entrepreneurs have adapted their business to meet consumer needs in this Covid-19 situation, especially as people pay more attention to food safety.

Phusit went on to say that the DITP has so far awarded 603 ready-to-cook and ready-to-eat foods from 54 companies with “Thai Select” certification to enable consumers and restaurant operators overseas to purchase quality Thai cuisine.

He said the DITP would also certify seasonings for Thai foods, such as shrimp paste and fish sauce, as they are important ingredients and are very popular in international markets.

“As many as 44 companies [24 of which are new] had requested Thai Select certification or renewal of the award for 364 products [189 new] from November 2 last year to January 26 this year to gain confidence among foreign consumers,” he said.

“The Thai Select stamp not only certifies product quality but also proves the product was manufactured with ingredients, tastes and appearances in accordance with top Thai food standards.”

Phusit said the DITP would announce award results at the end of April and hand out the Thai Select stamp to entrepreneurs at ThaiFex-Anuga Asia 2022 between May 24 and 28.

Entrepreneurs who have been awarded the certification will be able to participate in the department’s activities, such as marketing promotions, business matching and public relations both online and offline, he added.

Published : April 20, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40014730

The Bank of Thailand’s (BOT) Monetary Policy Committee adjusted down its estimation of gross domestic product (GDP), stipulating that in 2022 the economy would expand by 3.2 per cent instead of its previous 3.4 per cent estimation.

It also adjusted down its GDP expansion forecast for 2023 from 4.7 to 4.2 per cent.

BOT director of Economics and Policy Sakkapop Panyanukul said on Tuesday the positive factors that would contribute to GDP expansion in 2022 include increased consumption, recovering tourism and improved confidence by the private sector due to an increasing number of the population being vaccinated.

These positive factors are likely to contribute to economic expansion by 0.4 per cent.

“However, negative factors such as lower demand for Thai exports due to the ongoing Russia-Ukraine conflict, increased global energy prices, and the prolonged battle against Omicron could drag down GDP expansion by up to 0.6 per cent, prompting BOT’s Monetary Policy Committee to slash its GDP expansion prediction by 0.2 per cent,” he said.

Sakkapop said the committee might have to further adjust down the forecast in case more negative factors emerged or existing ones became more worse than estimated.

“For example, the impact of the Russia-Ukraine conflict could cause global supply disruption, as Russia is one of the world’s major iron producers,” he said.

“Furthermore, the rising cost of living due to the increased energy price could affect private consumption and operational costs of many businesses, while the possible emergence of a new Covid-19 subvariant could affect the country’s recovering tourism industry in the second half of the year.”

The central bank also estimates that inflation throughout the year will remain at 4.9 per cent.

“Inflation could rise to 6 per cent during the second or third quarter, but it will gradually subside in the last quarter due to the decreasing energy price,” Sakkapop predicted.

Published : April 20, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40014727

The Stock Exchange of Thailand (SET) Index is expected to fluctuate between 1,665 and 1,685 points on Wednesday amid the US Federal Reserve chairman’s view that the central bank would raise the interest rate gradually, Krungsri Securities said.

However, it predicted that the falling oil price after the International Monetary Fund cut its global gross domestic product forecast to 3.6 per cent this year would pressure the index.

It recommends the purchase of the following as an investment strategy:

• AOT, AAV, BA, Mint, Centel, ERW, CPN, CRC, HMPro, CPAll, Makron, Amata and WHA, which would benefit from countries reopening.

• KCE, Hana, SVI, BBIK, BE8 and Add, which would gain from rising technology share prices.

• BDMS, BH, Intuch, Advanc, BTS and BEM, which can tolerate market volatility.

The SET Index closed at 1,675.62 on Tuesday, up 7.56 points or 0.45 per cent. Transactions totalled 74.31 billion baht with an index high of 1,681.75 and a low of 1,673.91.

Published : April 20, 2022

By : THE NATION