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https://www.nationthailand.com/business/40015892

The Cambodia, Laos, Myanmar, Vietnam, Thailand (CLMVT) Forum has helped generate social returns as high as 4.49 times the value of the project, the Trade Policy and Strategy Office at the Ministry of Commerce said. 


On May 12, the TPSO, together with the Faculty of Economics at Kasetsart University organised a webinar to disseminate the research results of the social return on investment (SROI) of the CLMVT Forum.

More than 250 participants attended the webinar, Ronnarong Phoolpipat, director of TPSO who opened the webinar, said. 


The TPSO had been organising the CLMVT Forum since 2016 to facilitate discussions and exchange of ideas among high-level public, private, and academic sectors in the region.

“CLMVT forums have generated several benefits to the region, such as increasing human capital capability for the digital age and creating new business entrepreneurs to make CLMVT a new supply-chain centre of the world.

“The CLMVT Forum is a government project that generates tangible benefits and positive social returns to society. The TPSO hopes that the CLMVT Forum will continue to be a part of the mechanism that supports the Thai economy and the CLMVT region to grow strongly and play an important role in Asean and the world’s economic system in the future,” Ronnarong said.

Ronnarong Phoolpipat, Director of Trade Policy and Strategy Office

Montchai Pinitjitsamut, from the Faculty of Economics, Kasetsart University, said that SROI is one of the most popular economic tools used to assess public investment in government projects by evaluating social benefits and costs of the project. 


“The research results suggest that the CLMVT forums have generated social benefits in terms of increasing income, boosting trade and investment up to THB308 million and have generated returns to society as high as 4.49 times the initial investment value.”

In addition, the CLMVT countries earned benefits from CLMVT Forums in at least four areas: 


— The forum creates tangible business cooperation;


— reduces the cost of finding information about the region and helps businesses easily find business partners

— helps participants gain knowledge on the economic situation and introduces them to new perspectives,

— helps strengthen the networks among the various government agencies, private sector, and academic sector.

Speaking at a forum on “Business Opportunities: Are CLMV Countries Still Attractive for Thai Investors?”, Nisit Panthamit, head of the Centre for Asean Studies, Faculty of Economics, Chiang Mai University, said that the situation in Myanmar has disrupted trade flows between the Myanmar and Thailand. He said the post-coup situation “has made it much more difficult for Thai products to reach consumers in Myanmar, while Laos has suffered economically as a result of the Covid-19 situation because of the effects on the tourism business that has caused inflation in the country”. 


“Many luxury products cannot be sold as easily as before. This situation is happening in Cambodia as well, but not in Vietnam. Vietnam has a positive vibe and is a country to watch,” Visit added.

Jirawat Daechasatien, a CLMVT business expert, said that “Population density in CLMV countries is important for trade expansion. There are 180 million people in this region and there are still many opportunities for Thai products. However, each country has different internal barriers that Thai investors should consider before making any decision. For example, Vietnam is an attractive market for baby products, but Thai investors should understand Vietnam consumer preferences, sales and distribution channels before making a business investment.”

Published : May 24, 2022

By : THE NATION

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https://www.nationthailand.com/business/40015884

Mr. Jurin Laksanawisit, leader of the Democrat Party, Deputy Prime Minister and Minister of Commerce, as the chairperson of international seminar “APEC BCG Symposium 2002”, along with Mr. Jose Miguel Ahumada, Vice Minister, Ministry of Foreign Affairs, Chile, Dr. Rebecca Sta Maria, APEC Executive Director, APEC Secretariat, and Ministry of Commerce’s executives presided over the opening ceremony of “APEC BCG Symposium 2002” at Ballroom A-B on 23rd Floor of Centara Grand at CentralWorld Hotel.

Mr. Jurin revealed that the Ministry of Commerce of Thailand is organizing this seminar in order to create knowledge recognition and understanding on the BCG (Bio-Circular-Green Economy) Model. Moreover, it is the BCG economic model practices and experiences exchanging forum, government policies sharing and also encourages MSMEs to apply the BCG model to drive business for sustainable economic development within the APEC Economic Zone.

BCG Model consists of 3 key factors. 1. Bio Economy: aims at utilizing biodiversity in the APEC Economic Zones and Thailand for economic benefits. 2. Circular Economy: aims to increase efficiency in use of existing resources and also minimize hazardous waste or reduce. In addition, using the leftovers or maximizing economic benefits from byproducts or reuse. Finally, recycle refers to convert used items to reusable products with the environmentally friendly process. 3. Green Economy will lead economic development through encourage an environmentally conscious in both the manufacturing and service sectors. Subsequently, the manufacturing and service sectors become more environmentally friendly.

BCG Model was declared as economic model of Thailand’s national agenda on January 19, 2021. It has led to sustainable development in accordance with the17 Sustainable Development Goals (SDGs) of the United Nations. Besides, many countries are moving forward for economic development. For example, in Australia, there is a bio-industry development plan in Queensland, Singapore launches Zero Waste Masterplan for zero waste purpose, the 14th Five-Year Plan of China is correspondence with the goal, and Canada Government implements Biodigital Convergence policy to drive a hybrid economy between ecosystem and digital technology.

In addition, BCG Model of Thailand will show beneficial outcomes in revenue generation and income distribution for Thailand, the APEC economies, and the future world. Currently, to emphasize the development of SMEs and Micro SMEs in the manufacturing and service sectors by mainly employ the BCG Model, it will result in the environmentally friendly productions and services. Mr. Jurin believed that this is the joint goal of all APEC economies.

As a consequence of the BCG model as part of Thailand’s national agenda, the Ministry of Commerce, which he is in charge, categorizes the support and promotion of goods and services into separate category known as BCG category. It is included the production of future products, functional foods, medical food, organic foods, lifestyle products and social enterprise products.  These sectors are applied the BCG Model and the trade value rose remarkably. In the past 6 months from the fourth quarter of 2021 to the first quarter of 2022, the trade value in this category increased by 7 times.

“I expect that APEC BCG Symposium 2022 in Thailand  to be experiences exchanging opportunities for  APEC members and also discover  a new joint cooperation in order to achieve “Open Connect Balance” goals” Deputy Prime Minister and Minister of Commerce said.

 
Afterward, reporters observed that Mr. Jurin Laksanawisit personally visited Thai entrepreneurs’ booths, including SCG, PTTGC, Dow, CPF, and ThaiBev, etc. They have exhibited on BCG-related products. Additionally, he also attended BCG exhibition about environmentally friendly products from the BCG Model group as part of 21 APEC member economies, such as Australia, Singapore, Taiwan, Japan, Hong Kong and China, etc.
 

Published : May 24, 2022

By : THE NATION

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https://www.nationthailand.com/business/40015869

The scarcity of parts due to the Russia-Ukraine war and lockdown measures in China continue to impact Thailand’s auto industry, the Federation of Thai Industries (FTI) said on Monday.

Surapong Paisitpattanapong, FTI’s vice president and spokesman, said production, local sales and export of cars and motorcycles dropped by 31.79 per cent in April compared to March because the shortage of parts forced manufacturers to delay production.

The total number of vehicles produced last month came in at 117,786, though the total number of vehicles produced in the first quarter stood at 597,864, up 4.85 per cent year on year.

Surapong said though this year’s situation was better than last year when the pandemic was at its peak, the prolonged war in Ukraine and the Covid-19 crisis in China had disrupted the global supply chain.
Though the production of passenger cars for export dropped by 21.53 per cent due to a lack of parts and semiconductors, the production of pick-up trucks for export rose by 6.17 per cent in April compared to the same period last year.

Last month, 55,696 vehicles were exported, down 40.65 per cent from March but up 5.33 per cent compared to last year. The total export of vehicles, engines and auto parts in April came in at 33.48 billion baht, with Asian countries, the Middle East, North America as well as Central and South America being the biggest importers.

Meanwhile, 63,427 units were sold domestically in April, down 27.30 per cent from March, but up 9.11 per cent from the same month last year thanks to the easing of Covid-19 measures and the holding of the Bangkok International Motor Show, which wrapped up on April 3.

According to the FTI, the first quarter of this year saw 294,616 vehicles and 569,992 motorcycles sold, up 16.79 per cent and 0.12 per cent year on year respectively.

Meanwhile, the government’s support scheme has boosted the registration of electric vehicles by 145.31 per cent in the first quarter compared to the same period last year.

However, there are concerns that the surge in oil prices and a weaker baht will push up the price of goods and household debt, which will weaken people’s purchasing power.

Published : May 23, 2022

By : THE NATION

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https://www.nationthailand.com/business/40015856

Households can sell their surplus solar electricity to state providers at the rate of 2.20 baht per unit, the Energy Regulatory Commission (ERC) said on Monday.

The Provincial Electricity Authority (PEA) and Metropolitan Electricity Authority (MEA) will buy surplus electricity from households with rooftop solar panels of up to 10kW capacity, said ERC secretary-general Komkrit Tantrawanit.

The PEA and MEA would each buy 5 megawatts of household solar per year for 10 years, starting in 2022.

Households must feed the surplus solar into the PEA or MEA grid within 270 days of signing the contract.

The National Energy Policy Council decided on March 9 to extend the household solar project after its launch last year.

Komkrit said no deadline had been set for house owners to apply to join the project.

Meanwhile, households who do sign up but fail to meet the 270-day feed-in deadline will be given an extra 90 days to supply their solar surplus.

Failure to meet the second deadline will result in cancellation of their contracts, Komkrit said.

He said the new announcement also applied to households who submitted applications to sell solar electricity to the MEA and PEA last year but have not started operations yet.

The two state firms will invite applicants to sign contracts within 30 days, Komkrit added.

He said the policy is aimed at cutting the use of fossil fuel to generate electricity after the Russia-Ukraine war caused energy prices to skyrocket.

Published : May 23, 2022

By : THE NATION

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https://www.nationthailand.com/business/40015855

The seven Apec nations that staged a walkout on Saturday in protest against Russia have issued a joint statement saying they support Thailand, but condemn Russia’s invasion of Ukraine.

Representatives of the United States, Australia, Canada, Chile, Japan, South Korea and New Zealand walked out when the Russian representative stood up to deliver a speech at the Ministers Responsible for Trade Meeting on Saturday.

This walkout prompted the meeting to wrap up on Sunday without the release of the traditional joint statement from participants.

The two-day meeting was being held at Centara Grand and Bangkok Convention Centre in downtown Bangkok.

“We express our unwavering support for Apec and are fully committed to helping Thailand, as Apec chair in 2022, deliver a successful host year,” the joint statement said.

“We are united in our resolve to ensure peace and stability in our region and to uphold international law, recognising these are preconditions for the inclusive and sustainable economic growth for which we strive.

“We condemn in the strongest terms, the unprovoked war of aggression by Russia against Ukraine.”

The statement said the seven Apec nations were gravely concerned about the deteriorating humanitarian situation and the threat to global food and energy security caused by Russia’s actions.

The nations said Russia’s invasion has further destabilised the global economy and global supply chains as well as undermined our ability to recover from Covid-19.

The nations also expressed their concern over the volatility in energy markets and underscored the need to promote energy resilience, access and security in the region.

“Similarly, we affirm our commitment to a well-functioning food system, which is critical to our people’s health and well-being and to the success of our economies. A rise in food insecurity, due to Russia’s invasion, is being felt around the world, and disproportionately by the most vulnerable,” the joint statement said.

“Reaffirming the importance of the rules-based international order that underpins an open, dynamic, resilient and peaceful Asia-Pacific region, we strongly urge Russia to immediately cease its use of force and completely and unconditionally withdraw all of its military forces from Ukraine.”

Published : May 23, 2022

By : THE NATION

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https://www.nationthailand.com/business/40015818

The Asia-Pacific Economic Cooperation (Apec) trade ministers meeting ended with participants failing to issue the traditional joint statement in Bangkok on Sunday.

The Apec forum was disrupted on Saturday when representatives of the United States, Japan, Canada, Australia and New Zealand walked out as the Russian representative stood to make a speech. The walkout was in protest over Russia’s invasion of Ukraine.

Commerce Minister Jurin Laksanawisit, who chaired the meeting, said he would conduct a press conference to announce the forum’s results. On Saturday, Jurin had insisted the walkout would have no impact on progress made at the forum.

Thailand is chairing the Apec trade bloc this year but international tensions over the Russia-Ukraine war threaten to derail cooperation among members.

Hosted by Thailand over two days, the Bangkok meeting aimed to drive trade and economic cooperation among 21 Apec members. One goal was to promote the so-called BCG (bio-circular-green) economic model whereby micro, small and medium-sized enterprises will be geared to supply chains to help drive sustainable development.

Published : May 22, 2022

By : THE NATION

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https://www.nationthailand.com/business/40015809

Thailand and Russia are ready to boost bilateral trade to US$10 billion next year, Commerce Minister Jurin Laksanawisit said on Saturday.

Jurin was speaking after talks with Russia’s Economic Development Minister Maxim Reshetnikov on the sidelines of the Apec meeting in Bangkok.

He said details of the new trade ties would be ironed out at the upcoming fifth meeting of the Thailand-Russia trade and economic cooperation subcommittee.

Jurin said Thailand was also working on finalising its free trade agreement with Eurasia, comprising Russia, Belarus, Armenia, Kazakhstan and Kyrgyzstan.

The Thai embassy in Switzerland was coordinating relations with these countries, he added.

Meanwhile, Jurin confirmed that Thai banks had shown interest in Russia’s proposal to introduce the Mir payment system for Russian tourists in Thailand. He also pledged to coordinate with the Tourism and Transport ministries to facilitate direct flights from Russia.

On trade, he said Russia was interested in importing more Thai products, especially food and automobiles. Moscow is also keen to expand investment in Thailand, especially in IT, and had also invited Thais to invest in Russia, he added.

Last year, trade between Thailand and Russia was worth $2.7 billion, with Thai exports rising 41 per cent year on year to $1.02 billion. Thailand exports autos and auto components, tyres, machinery, and canned and processed fruits to Russia. Thailand’s trade deficit with Russia last year was driven by imported crude oil, fertilisers, pesticides and steel.

Reshetnikov also praised Thailand for allowing a free exchange of opinions during the Apec trade ministers meeting in Bangkok on Saturday.

He added that the walkout by representatives of the United States and four other Apec members – Japan, Canada, Australia and New Zealand – in protest at Russia’s invasion of Ukraine had solved nothing.

He also declined to say whether President Vladimir Putin would participate in November’s Apec summit hosted by Thailand.

Published : May 22, 2022

By : THE NATION