Govt moving fast to streamline registration process for multinationals to open regional HQs
THURSDAY, DECEMBER 01, 2022
Four state agencies will meet in the middle of this month to discuss setting up a new one-stop service to make it more convenient for multinational corporations to open a regional headquarters in Thailand.
The move follows an instruction from Prime Minister Prayut Chan-o-cha that the four agencies collaborate to encourage more multinational firms to open their regional headquarters here, deputy government spokeswoman Traisuree Taisaranakul said on Thursday. She said officials from the Board of Investment, the Revenue Department, the Department of Business Development, and the Bank of Thailand will meet in the middle of this month to fast-track one-stop service. The meeting will be chaired by Deputy Premier and Energy Minister Supattanapong Punmeechaow, Traisuree said. The minister chairs a government subcommittee focused on reducing obstacles to investment.
Traisuree said the one-stop service would allow multinationals to register a regional headquarters in Thailand at a single office, releasing them from the requirement to seek permission from four different agencies at four separate locations. She also said the prime minister is confident that Thailand’s economic outlook is bright, explaining that his assessment is based on an increased interest in investment expressed directly to him by American and European business people he met recently. The US and European executives also expressed support for the government’s efforts to transform Thailand into a hub for international businesses, Traisuree said. The government offers a number of tax benefits and incentives for multinational corporations to open regional offices in Thailand. Many already have, including Agoda, Exxon Mobil and Alstom-Bombardier.
Budget Bureau, development council support financial transaction tax
THURSDAY, DECEMBER 01, 2022
The Budget Bureau and the Office of the National Economic and Social Development Council told the Cabinet they support its decision to start levying a tax on stock trading, which has been exempt from taxation for 30 years, according to reports from the two agencies released Thursday.
The public release of the reports supporting the financial transaction tax followed renewed criticism from the private sector that the tax was poorly timed.
A tussle between the private and public sectors erupted after the Cabinet on Tuesday gave the green light for the Finance Ministry to start collecting a financial transaction tax on trades on the Stock Exchange of Thailand (SET). Trading on the SET has been tax exempt for 30 years.
The Cabinet’s decision, which stipulates that SET investors must pay a tax equivalent to 0.1% of share sales, will take effect 90 days after the draft royal decree issued under the revenue code is announced – likely sometime in the second quarter of next year. However, during the first year, the tax will be only 0.055% of share sales.
After the Cabinet approved the tax, the Federation of Thai Capital Market Organisations reiterated its criticism of the tax, saying it was poorly timed and could undermine the market.
The government responded on Thursday by publicly releasing reports from the Budget Bureau and development council that showed both agencies support for the tax.
In a report to the Cabinet, the development council said the financial transaction tax proposed by the Finance Ministry should be approved and that it would not undermine the SET. It also said the tax would promote fairness and increase the efficiency of the Finance Ministry’s tax collections.
The development council, however, disagreed with the Finance Ministry’s plan to exempt the tax on shares sold by stock-trading funds controlled by the Social Security Office, pension and provident funds.
Such funds should not be encouraged to invest in stock markets because share prices are volatile and, as a result, the beneficiaries of the funds could be damaged.
The Budget Bureau told the Cabinet the financial transaction tax would make tax collection fairer and reduce income inequality.
The Budget Bureau also said the financial transaction tax would have no impact on the development of new products on the SET, dismissing claims from the Federation of Thai Capital Market Organisations that it would.
Commerce Minister moving swiftly on high-speed access to China’s market
THURSDAY, DECEMBER 01, 2022
Exports of Thai fruit and vegetables to southern China will increase after the Mohan railway checkpoint opens on December 1, Commerce Minister Jurin Laksanawisit said on Thursday.
The high-speed railway running through Laos to southern China will make transport swifter and less expensive, Jurin said, adding that China’s General Administration of Customs had finished its inspection of the checkpoint and given the green light for fruit and vegetables to be imported through it on Wednesday.
The checkpoint will start operating on December 3, the first anniversary of the high-speed railway’s launch.
Jurin said approval to import fruit and vegetables through the new checkpoint opened a new opportunity for exporters and importers, explaining that rail transportation is a cheaper and faster way to ship to southern China. Fruit and vegetables are less likely to rot during transport by high speed rail, the minister added.
Once they arrive in Yunnan province, the fruit and vegetables can be distributed to other regions of China, Jurin said.
He urged Thai exporters to start planning now, saying: “To make the most of the Laos-China high speed rail, Thai exporters must plan early with logistics companies, and clarify their understanding of laws and regulations on imports in China.”
Jurin said the opening of the new checkpoint for imports in China will enhance the value of the high-speed railway for trade, making exporting and importing between China and Thailand more convenient.
He also said it would increase Thai exports to China.
Yunnan province has great potential as a market for Thai food and services as it is the closest Chinese province to Thailand and is integrated with mainland Southeast Asia by highways and the high-speed railway.
Jurin announced that he has appointed ambassadors to accelerate the creation of a Thai-Chinese logistics network to increase the number of companies offering logistics services between the two countries and reduce their costs.
Baht strengthens to 5-month high against the dollar
THURSDAY, DECEMBER 01, 2022
The baht opened at 35.05 to the US dollar on Thursday, strengthening from Wednesday’s close of 35.26 to a five-month high after the central bank raised its key interest rate by a quarter point.
The currency will likely move between 34.95 and 35.20 against the greenback during the day, Krungthai market strategist Poon Panichpibool said.
Poon said conditions supporting the baht strengthening included a risk-on market, falling dollar, and gold sales after the price rebounded. Foreign inflows to the Thai stock market are adding to the upward pressure, he said.
The baht could test its support level at 35 to the dollar and even strengthen to 34.80 if these supporting market conditions persist, he added.
He forecast its short-term resistance level at 35.30-35.40, explaining that exporters may wait for the baht to weaken before selling the dollar.
Poon advised investors to use hedging tools such as options to manage risks in a highly volatile currency market.
Bank of Thailand raises policy rate by 25 points to fight inflation
WEDNESDAY, NOVEMBER 30, 2022
The Bank of Thailand’s Monetary Policy Committee (MPC) on Wednesday voted unanimously to raise the policy interest rate by 25 basis points to 1.25% to control inflation.
MPC secretary Piti Disyatat said the rate hike took immediate effect.
Piti said the rate rise was based on economic recovery driven by tourism and private sector consumption amid higher-than-projected inflation because of high energy prices.
After going unchanged for more than two years during the Covid-19 pandemic, the policy rate was raised by 25 basis points to 0.75% in August and to 1% the following month.
The MPC projects Thailand’s economy will grow 3.2% this year, 3.7% in 2023 and 3.9% in 2024, Piti told a press conference on Wednesday.
It noted an increasing number of foreign arrivals along with rising consumption driven by an upward trend in employment, wages and salaries. The MPC also saw better income distribution across the country, Piti said.
The MPC believes tourism and consumption will continue to be main economic drivers for Thailand in 2023 and 2024, offsetting a slowdown in exports, he added.
MPC forecasts headline inflation of 6.3% this year, 3.0% in 2023, and 2.1% in 2024
Headline inflation had passed its high point in the third quarter, Piti said, after breaching expectations mainly because of rising power bills. It was now expected to fall toward the target span by year-end, he added.
The MPC forecast core inflation would not exceed previous targets of 2.6% this year, 2.5% in 2023 and 2.0% in 2024.
Piti said the MPC saw Thailand’s financial status as still stable since commercial banks had strong levels of funds and reserves while household and business debt repayment is improving in line with the reviving economy.
But the MPC also realized that SMEs and households were still vulnerable to rising living costs and debt given income levels have not fully recovered.
Hence, the MPC believes debt restructuring measures should be maintained while the government should enact specific measures to help vulnerable groups.
Although the cost of private sector borrowing is rising in line with the policy rate, Thailand’s overall financial situation is easing as fund raising by firms and borrowing and bond issuing continue to expand, Piti said
The MPC said it was keeping a close watch on financial markets and baht exchange rate fluctuations as it implemented financial policy with the goal of maintaining price stability, sustainable economic growth and stability of the financial system.
CP Group to launch “Forum for World Education 2022 – Changing Economy, Adjusting Education for Future Trends”
WEDNESDAY, NOVEMBER 30, 2022
The “Forum for World Education 2022 – Changing Economy, Adjusting Education for Future Trends” is about to be launched for the first time in Thailand at the C.P. Leadership Institute between December 1st -2nd, 2022.
Senior president of the CP group, “Dhanin Chearavanont,” and executives from major corporations like Google, Amazon, and McKenzie, as well as educational leaders from the public and private sectors worldwide, including the deputy minister of trade and industry of Singapore, the OECD, the Kosen Institute from Japan, etc., are ready to brainstorm ideas, exchange experiences to change and develop education for the future 5.0, and meet the needs of the businesses.
The Forum for World Education (FWE) holds an annual symposium called “Forum for World Education,” which was first conducted in Paris, France, in 2019 according to Dr Cheng Yan Davis, the organization’s co-founder and secretary general.
The 2022 Annual Conference or Forum for World Education 2022 will be held in Thailand this year by the World Council for Education. The conference will be held at the C.P. Leadership Institute, Pak Chong District, Nakhon Ratchasima Province, between December 1 and 2, 2022, with the cooperation of CP Group and Concordian International School.
More than 400 education experts from various nations will attend the meeting with global business executives who are focused on human development and education to discuss how to design education so that it serves the needs of the business sector in every nation. The conference’s theme for this year is “Economic Changes, Education Adapts to Future Trends” or “Shaping The Future of Education To Match Global Economic Trends,” with the intention of transforming education, developing capable human resources, and advancing the development of the world economy in the 5.0 era.
Mr Dhanin Chearavanont, senior president of the CP Group, will speak on the theme of “Challenge & Opportunities for the New Chapter of Education” at the FEW 2022 conferences. Additionally, Dr Tan See Leng, Singapore’s deputy minister of trade and industry, will conduct an online guest lecture on the topic of “Importance of education in preparing our workforce for the future” to discuss the government’s role in promoting education to prepare Singapore’s next generation. Discussing “Strategies for shaping the future of education in accordance with global economic trends” with leaders of major corporations is another forum topic.
The panelists include Mr Vikram Rao, Head of ASEAN Enterprise from Amazon, Dr Inoe Mitsuteru, Senior Executive Director, Kosen Institute Japan, Mr Collin Marson, Education Director, Google Asia Pacific, and Mr Li Kai Chen, Senior Partner and Managing Partner Mackenzie. Additionally, Mr Supachai Chearavanont, Chief Executive Officer, CP Group, will lead an educational conversation on the subject of “Educational Transformation & Human Capital Readiness to The World 5.0.” A panel discussion featuring Michael Bloomberg, the creator of the Bloomberg News Agency and a former mayor of New York City, Andreas Schleicher, the director general of the Organization for Economic Co-operation and Development (OECD), and others will also be held.
The FEW 2022 seminars are being hosted in Thailand, and they will be filled with challenging and fascinating meeting themes. Leaders from China, East Africa, Germany, India, New Zealand, Singapore, Switzerland, Taiwan, Thailand, and the United States of America will participate in a panel discussion to generate fresh suggestions for bringing about dynamic change in educational systems and the key issues that will shape the future. Academic sectors such as the top universities in the world, including Harvard University, University of Cambridge, The Wharton School, University of Pennsylvania, NYU Shanghai, etc., will attend the meeting as well.
The Forum for World Education (FWE) is a non-profit world organization with its headquarters in Cambridge, Massachusetts, United States of America. FWE aims to connect the education system with businesses as well as give corporate viewpoints on educational management to drive and alter education systems to fit the fast-changing global society and economic context.
The “Forum for World Education 2022 – Changing Economy, Education Adjusting for Future Trends” will be held online and on-site during December 1 and 2, 2022. The C.P. Leadership Institute, Pak Chong District, Nakhon Ratchasima Province, is where the on-site format is held. For the online participants, you can register and observe at www.fwe2022.com.
APCOM HERO Awards 2022: A memorable night with real HEROs for LGBTQI communities in Asia Pacific
WEDNESDAY, NOVEMBER 30, 2022
The 6th APCOM HERO Awards ceremony took place at the Australian Embassy in the center of Bangkok on the night of November 25 under the theme “Unity & Diversity”.
This inspirational event convened multi-national LGBTQI communities, non-profit organizations, embassies, public and private sectors, to celebrate the HEROs of the year who dedicated themselves for LGBTQI communities in Asia Pacific region.
“The Australian Embassy is proud to host the 2022 HERO awards event tonight, which recognises outstanding service in HIV response across Asia and the Pacific. We have supported APCOM’s work over many years. LGBTQI rights are human rights which we will continue to fight for in every forum. The work of human rights defenders and civil society groups like APCOM is crucial to upholding LGBTQI rights across the region,” remarked H.E. Dr Angela Macdonald, Australian Ambassador to Thailand.
Standing for HIV, Equality and Rights, the APCOM HERO Awards is an annual event which acknowledges the region’s lesbian, gay, bisexual, transgender, queer and intersex (LGBTQI) communities and outstanding service to the HIV/AIDS response in Asia and the Pacific. The event is also a fundraiser for the APCOM Foundation, a leading NGO which works to fight HIV and advance LGBTQI health, rights and wellbeing across the Asia Pacific region. The Awards are being supported by a range of corporate sponsors, community organisations and diplomatic missions.
APCOM Foundation in partnership with three community organizations, APN+, APTN and ILGA Asia, we proudly unveil the HEROs of the year 2022 below:
1. Business Ally: Foodpanda (Thailand) The company that creates home for inclusion for all employees, a safe workplace that fully accepts employees’ identities.
2. Community Ally: Tebeio Tamton (Kiribati) Advisor and Co-Founder of Boutokaan Inaomataia ao Mauriia Binabinaine Association (BIMBA)
3. Community Hero supported by ILGA Asia: Rosanna Flamer-Caldera (Sri Lanka) The founder and Executive Director of EQUAL GROUND, one of the oldest and truly diverse LGBTIQ advocacy organizations pursuing LGBTIQ rights as part of the larger Human Rights framework in Sri Lanka.
4. Community Organisation: Blue Sky Society Company Limited (Vietnam) An organisation which creates a “home” for people living with HIV in Vietnam and provides necessary services for people who want treatment but do not dare to enroll in a public health treatment program for issues related to confidentiality.
5. Covid-19 Hero: Association of People Living with HIV/AIDS (APL+) (Lao PDR) During the COVID-19 lockdown APL+ collected data and information from key populations to identify the issues to further plan for supporting key populations in the communities.
6. Health and Wellbeing: Dr Wong Chen Seong (Singapore) A Consultant physician who co-created with members of key LGBTQI community-based organisations to provide healthcare workers across various sectors with the training to communicate with and serve LGBTQI patients and clients confidently and competently.
7. HIV Hero supported by APN+: Yasir Ali Khan (Pakistan) A well-known person in the HIV sector as a PLHIV activist, who runs a support group with large numbers of key populations living with HIV, with expertise in harm reduction in Pakistan.
8. Social Justice: Nada Chaiyajit (Thailand) Human Rights Campaign Advisor who successfully won a case on uniform justice and set precedent for the legal principle regarding gender identity and expression in Thailand.
9. Transgender Hero supported by APTN: Rully Mallay (Indonesia) She is a volunteer at the Transpuan Community in Yogyakarta Indonesia, and help organize communities, strengthen the capacity of organizational administrators and carry out economic empowerment in increasing community resilience from various vulnerabilities.
10. Young Achiever: Jeremy Tan (Malaysia) Health, advocacy, and Youth Officer who empowers health organizations in Malaysia to integrate their healthcare model with HIV services such as testing, counselling, and referral of treatment.
11. Shivananda Khan Award for Extraordinary Achievement: Senator Risa Hontiveros (The Philippines) Senator Risa Hontiveros is a health and women’s rights advocate, a proud activist, and a champion of the basic sectors. She is the Philippines’ first socialist woman Senator. Senator Risa Hontiveros is widely known and celebrated for her tireless work in promoting public health, the rights of women and other marginalized groups, including the LGBTQI+ community.
“Our Award recipients tell powerful stories of not giving up by creating a more inclusive, equal and just society. Despite the effect of Covid-19 extraordinary work is being done, and the HERO Awards is the platform to help highlight their efforts,” Midnight, APCOM’s Executive Director says.
The event gathered close to 300 participants physically and brought together celebrities, special guests, community representatives and advocates, members of Bangkok’s diplomatic, corporate and entertainment field to pay tribute to the extraordinary contributions of individuals and organisations who have improved the lives of LGBTQI people and people affected by and living with HIV throughout the Asia Pacific region. This year, Joe Chonlawit came back to be our special MC together with surprising Co-MC Anchilee Scott-Kemmis, Miss Universe Thailand 2021.
Michael Bäk, APCOM’s Private Sector Ambassador explained that “Today we celebrate to people whose dedication and passion help improve life, give hope, and create a positive impact for people living with HIV and LGBTQI communities across Asia Pacific. Our lives are better, healthier, and happier because the heroes we celebrate today have shown up and they have shown up every day. They should be recognized as the change makers, so let their works, their dedication, and their impact, inspire the policy and social change that we all deserve.”
With fun cocktail reception and delicious canapes accompanied by fine wines, the glamorous evening featured famous stage show artists by Jay Team and Network of Music and Arts of Persons with Disabilities (NMAD), mini-concert by Silvy (Warner Music), extravaganza drag performances by Srimala and Minnie Minage, and Finale with a fashion show by Ton Sirisak. While at the filed guests enjoyed the exhibition of Body Positivity campaign run by APCOM, music in the garden, charitable auction and luck draw, and interactive booths from networks and sponsors.
This HERO Awards ceremony helps acknowledge outstanding LGBTQI and HIV advocates and allies from across Asia and the Pacific, and showcase their inspiring work they have been doing for the LGBTQI communities.
You can also be a HERO to contribute to #CoronaAPCOMpassion COVID-19 Emergency Fund to provide immediate responses needed by the grassroots LGBTQI communities who are significantly affected by the COVID-19 outbreak in Asia Pacific.
Continental has joined forces with the outdoor clothing specialist Urban Circus to develop a highly Detectable Jacket that offers cyclists and pedestrians a new dimension of safety on the road.
As the daylight hours shrink, vulnerable road users like cyclists and pedestrians become more difficult to spot by the human eye and vehicles alike.
In comparison to conventional high-visibility jackets, the Detectable Jacket is much better recognizable to the human eye.
It is also up to twice more visible to LiDAR (Light Detection and Ranging) and camera sensors of Advanced Driver Assistance Systems (ADAS), which constantly monitor the vehicles’ surroundings.
For this solution, the partners have bundled their competencies – Urban Circus its expertise in outdoor clothing that protects against darkness, wind and rain, and Continental its experience with vehicle sensors – and developed a safe, stylish jacket that is suitable for everyday use.
“Our ‘Vision Zero’ – zero fatalities, zero injuries, zero crashes – not only includes automobile users, but also focuses especially on vulnerable road users.
With the Detectable Jacket, a joint innovation from Continental’s own development and production service provider Continental Engineering Services and Urban Circus, the outdoor wear specialist, we are moving one further step closer to making urban traffic safer for VRUs,” Eric Vincelot, Head of Continental Engineering Services (CES) France says.
More visible to Human Eye and the Vehicle The special arrangement of fluorescent and reflective inserts in the patented Urban-RPrint® technology fabric used for the Detectable Jacket is detected by on-board cameras and LiDAR systems faster and more reliably. To the eyes of the ADAS-sensors, the Detectable Jacket is up to twice more visible than conventional high-visibility vests.
Accordingly, the system can intervene faster and better, break or even stop completely. The size and position of the fabric inserts were chosen so that the sensors can directly detect the silhouette of a cyclist or pedestrian.
At the same time, the risk of dazzling the sensors and cameras was minimized. In addition, glass microbead technology increases visibility to the human eye by up to 300 meters.
This is made possible by the retroreflective Urban-RPrint® fabric, which is coated with thousands of micro-glass spheres and can reflect light from vehicle headlights up to 300 meters away. As a result, cyclists and pedestrians are better protected from accidents with vehicles, even in the dark and in poor visibility.
Unparalleled Safety and Unbeatable Style Urban Circus specialists have brought all their expertise in trendy, functional outdoor clothing to joint development. The Detectable Jacket is not only safe and innovative but also comfortable and stylish. It is wind and waterproof, thus saving also from draughts and heavy rain.
Thanks to the water vapour permeability, the jacket is still breathable and wicks moisture caused by perspiration to the outside, so that the wearer has a pleasantly dry feeling on the skin even during sweaty sports activities.
The jackets can now be ordered in Europe from this website. Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transportation.
In 2021, Continental generated sales of €33.8 billion and currently employs more than 190,000 people in 58 countries and markets.
On October 8, 2021, the company celebrated its 150th anniversary. Continental Engineering Services (CES) was founded in 2006, and as an agile and flexible engineering and production partner develops tailor-made, technologically sophisticated solutions for a wide range of applications, including automotive, railway engineering, aviation, shipping, mining and smart cities.
2,000 employees worldwide contribute their expertise and experience in the key technologies for automated driving, information management & connectivity, electrification and services in the field of multimodal mobility. This makes possible a new level of individual, safe and sustainable mobility.
Urban Circus develops high-visibility clothing that makes users feel confident so that everyone can experience the city freely. The brand is reinventing the unattractive “yellow vest” by relying on innovation and the desire to move with the times. If the law imposes high visibility clothing on two wheels, Urban Circus makes it a style”.
Discover the hidden splendour of the Long Coc tea valley
WEDNESDAY, NOVEMBER 30, 2022
The Long Coc tea valley is in Phu Tho Province’s Tan Son District, roughly 125 kilometres from Hanoi. One of the most beautiful tea plantations in Vietnam, Long Coc is made up of hundreds of hills facing each other and is popular with tourists all year.
Between March and December, a green carpet of new tea plants grows here, evoking a sight full of vigour.
A birds-eye view of people working in the tea hills. From above, the vast area resembles a giant green carpet. VNA/VNS Photo Anh TuanAerial view of the tea valley. VNA/VNS Photo Trung Kien
After the tea plants are harvested in December, the landscape of the tea hills will take on a kaleidoscope of colours, curves, and angles.
Those who enjoy snapping photos are drawn to the area because of the breathtaking dawn.
The hours between 4 and 5 in the morning, when the mist is still there, but the sun’s rays are just beginning to illuminate the scene, are often regarded as the best time to see the hills by many photographers.
Aerial view of the tea valley. VNA/VNS Photo Trung KienFrom above, travellers can enjoy the stunning views of the Long Cốc tea hills rising out from the mist. VNA/VNS Photo Trung Kien
Visitors to Long Coc may also taste numerous appealing native delicacies and teas and immerse themselves in the cultural space of the Muong ethnic community.
Traditional Midland tea, Bat Tien tea, and Shan Tuyet tea are some of the region’s well-known beverages.
If you’re a nature lover who doesn’t want to spend too much time travelling but wants to get away from the city, a visit to Phu Tho’s Long Coc valley is a wonderful option for the weekend.
1. The quicker and wider spread means this Covid-19 wave will end quickly.
2. Covid-19 infections with clear symptoms may be more beneficial in creating stronger future immunity than infections with no symptoms.
3. A combination of immunity from infection and vaccination is better than immunity from vaccination alone. (Thiravat added that he does not encourage people to get infected.)
4. Severity of symptoms depends on patients’ health, frequency of exercise, and diet.
5. The current surge in Covid cases will make people more aware and cautious.
6. Symptoms are likely to be weaker as the number of infected and vaccinated people has increased.
7. New Covid-19 variants and symptoms may not be linked to Long Covid symptoms (according to King’s College London).
8. Long Covid can be treated by exercising, getting sunlight, and eating a diet heavy in fruit vegetables and fish while reducing flour and meat.
9. The mix of coronavirus and other cold-season viruses will boost natural immunity to Covid-19.
10. Covid-19 will eventually become a weaker endemic disease if Thais strengthen their health.
The number of new confirmed cases soared to 4,914 last week, or 702 per day on average.
Patients severely ill with Covid currently number 553. Of these, 319 are on ventilators. Last week also saw an average of 10 Covid-related deaths per day or 74 in total.
A birds-eye view of people working in the tea hills. From above, the vast area resembles a giant green carpet. VNA/VNS Photo Anh Tuan
Aerial view of the tea valley. VNA/VNS Photo Trung Kien
Aerial view of the tea valley. VNA/VNS Photo Trung Kien
From above, travellers can enjoy the stunning views of the Long Cốc tea hills rising out from the mist. VNA/VNS Photo Trung Kien
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