#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/thailand/economy/40023156

New, expanded markets may see Thai rice exports cross 2022 target

FRIDAY, DECEMBER 16, 2022

Thailand will likely achieve its goal of exporting 7.5 million tonnes of rice this year, and may even go beyond the target, the Department of Foreign Trade (DFT) said.

Ronnarong Phoolpipat, the department’s director-general, said on Friday that exporters have sought to ship out up to 8.58 million tonnes of rice this year, adding that the baht’s exchange rate has made prices very competitive.

Also, he said Iraq’s import of 1.3 million tonnes of rice in the first 10 months of this year has helped rice exports grow by 500% year-on-year.

Export of rice to the US and the Philippines – both of which are Thailand’s key markets – has grown by 25% and 44% respectively.

Ronnaraong said he expects rice exports to rise further in 2023 thanks to the exchange rate and the easing of Covid-19 measures.

He also said Indonesia and Bangladesh have expressed interest in importing rice from Thailand because their harvests are not large enough to cover domestic demand.

He said DFT will meet key rice exporters next month to set an export target for 2023.

The department also plans to hold a Thailand Rice Convention next year, as well as participate in international fairs like Germany’s BioFach, UAE’s Gulfood 2023, Foodex 2023 in Japan, the China-Asean Expo 2023 and Fine Food 2023 in Australia to promote Thai rice.

Related stories

• Thailand’s economy to grow by 3.6% in 2023, riding on tourism recovery: UTCC
• Farm output set to accelerate its rise next year: Office of Agricultural Economics
• Thai businesses target three major markets to boost exports next year

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/thailand/economy/40023150

Foreign investment jumps 74% to THB112 billion, with largest share from Japan

FRIDAY, DECEMBER 16, 2022

Thailand saw foreign investment worth over 112 billion baht in the first 11 months this year, up 74% from the same period last year, Deputy Commerce Minister Sinit Lertkrai said on Friday.

He said the biggest investor was Japan, with 39 billion baht from 137 entities. Japan also accounted for 26% of the total 530 foreign investors registered between January and November.

China was the second-largest foreign investor at 22.6 billion baht – despite having the fewest number of investors among the top five countries/territories with 25 (5%).

Singapore ranked third with 11.9 billion baht from 85 investors, said Sinit, citing data from the Department of Business Development.
 

Hong Kong was fourth with 8.4 billion baht from 38 investors while the US was fifth with 3.3 billion baht from 70 investors.

Foreign investment projects in the first 11 months are expected to create 5,008 new jobs in Thailand, Sinit said.

The number of investors rose from 500 last year to 530 this year – a 6% increase.

Most of the foreign investment was in projects related to infrastructure development and supporting industries, according to the deputy commerce minister. They included subcontractors for an electricity plant for U-Tapao Airport, upgrading Map Ta Phut Industrial Port, design and development of electric vehicle charging stations, international goods distribution centres, and software and digital data services.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/thailand/economy/40023134

Thailand refutes US determination of solar panel ‘dumping’

FRIDAY, DECEMBER 16, 2022

The Commerce Ministry has refuted the United States’ preliminary determination that solar panels imported from Thailand are evading US anti-dumping measures.

US authorities published a determination on December 8 that solar cells and modules imported from manufacturers in Thailand, Vietnam, Malaysia and Cambodia are using parts from China. This shows an intention to evade US anti-dumping and countervailing duty measures against China, the determination said.

On Thursday, the Thai Commerce Ministry said it dispatched an objection letter to Lisa Wang, Assistant Secretary of Commerce for Enforcement and Compliance to protect Thailand’s exporters.

“In this preliminary determination, the US has chosen only two Thai exporters to question about the origin of their materials. These two are only a fraction of all exporters of solar panels in Thailand,” said Ronnarong Phoolpipat, director-general of the ministry’s Foreign Trade Department.

Ronnarong added that US representatives will visit Thailand to investigate solar panel businesses before completing the final determination on anti-dumping practices on May 1, 2023. He urged the businesses to cooperate with US representatives by providing full details of products and materials, adding that the Foreign Trade Department will help prepare Thai businesses for the inspection.

In the meantime, Thai manufacturers can still export solar panels to the US tariff-free under a presidential order that exempts import tax on solar products from the four countries until June 9, 2024.

In the first 10 months of 2022, Thailand exported solar panels worth over US$940 million (32.9 billion baht), up 3% year on year. Thailand’s other major markets for solar panels are Vietnam, India, Taiwan, Turkey and China.

Related Stories

Thailand among 4 nations facing US probe for helping China avoid solar panel tariff

KBank offers free solar rooftop installation for 500,000 households

Biden lifts import tariff on solar panels from Thailand

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/thailand/economy/40023130

Thailand’s economy to grow by 3.6% in 2023, riding on tourism recovery: UTCC

FRIDAY, DECEMBER 16, 2022

The country is likely to see 3.6% economic growth in 2023 thanks to the performance of the tourism sector, despite the nation’s export growth slowing down, according to University of the Thai Chamber of Commerce (UTCC).

The president of the UTCC and adviser to the university’s Centre for Economic and Business Forecasting, Thanavath Phonvichai, said the number of tourists visiting Thailand is expected to increase from 11 million this year to 22 million people in 2023, while the nation’s exports are slowing down due to a decline in trade partners’ purchasing power.

“Exports are expected to recover by the third quarter of next year,” he said. “In addition, investment from the public sector is also a factor that will bolster Thailand’s economy as production bases are shifted to several Asean countries, including Thailand.”

He said the nation’s economy was predicted to grow by 3.3% this year, driven by the tourism sector after Covid restrictions were eased, which has brought an influx of tourists to the country, while exports continue to thrive.

UTCC has forecast that in 2023, Thailand’s export and import growth will be 1.2% and 2.2% respectively while investment from the public sector will expand by 3.2%.

He said inflation in the country would increase by 3% if the global and national economy follow these conditions: global trade volume rises by 2.5%, the global economy grows by 2.7%, 22-24 million people visit Thailand, currency rate stays at 35.95 baht to the US. dollar, crude oil from Dubai remains at US$92.50 per barrel, and the policy interest rate stays at 1.25-2%.

“The relief in the Covid-19 situation in the country, the return of tourists, improvement in the agricultural sector, and especially the election scheduled to take place next year will all help generate revenue for the country,” he said.

However, he said there is uncertainty about the conflict between Russia and Ukraine, rising energy and commodity prices, central banks’ interest rate hike to deal with inflation, volatility in financial markets and global economic recession, which could pressure Thailand’s economic growth.