Fifa warns it will revoke Thailand’s World Cup broadcast rights over encryption failures
THURSDAY, NOVEMBER 24, 2022
Fifa has threatened to revoke Thailand’s right to broadcast the final World Cup matches after it found the country’s transmission access was “also being used in other countries”, the Sports Authority of Thailand (SAT) said on Wednesday.
Fifa’s warning prompted SAT to immediately notify the National Broadcasting and Telecommunications Commission, urging the telecom watchdog to ensure all parties involved in the broadcasting of the World Cup 2022 finals – being held in Qatar until December 18 – strictly abide by Fifa’s broadcasting transmission encryption standard.
SAT governor Kongsak Yodmanee said on Wednesday that these parties are five multiplexer DTTs, Thaicom, and all companies providing set-top box (STB) services.
Fifa has asked the broadcasters to strictly encrypt its over-the-air transmissions at least to the minimum standards of “Biss CA Director” or “Power/u”, said Kongsak.
Furthermore, Thaicom and the providers of STB services cannot use the Biss 1 Simultcrypt as they are now doing, he added.
“Failure to comply with these rules will result in Thailand’s broadcasting rights being forfeited,” Kongsak added.
APEC adopts Bangkok Goals to top Thailand’s successful year as host
THURSDAY, NOVEMBER 24, 2022
Thailand successfully hosted the APEC Economic Leaders’ Week (AELW) at Queen Sirikit Convention Center in Bangkok from November 14 to 19, 2022, with the series of high level meetings, discussions and events a culmination of Thailand’s year chairing the Asia-Pacific Economic Cooperation.
With the conclusion of the 29th APEC Economic Leaders’ Meeting on November 19, APEC 2022 was officially brought to a close. The year proceeded under the theme “Open. Connect. Balance.”, and all three priorities remained at the forefront of talks during AELW.
Most notably, APEC Economic Leaders expressed agreement at their meeting that the Bio-Circular-Green (BCG) Economy Model, proposed at the top of the year by Thailand, would be helpful to APEC economies in achieving sustainable, balanced and inclusive economic recovery from COVID-19 as well as build resilience to future challenges.
Adoption of the 2022 APEC Leaders’ Declaration and the Bangkok Goals on BCG Economy Model were marked as the highlight of both AELW and Thailand’s host year.
Among the top statements in the 2022 declaration was a reaffirmation of commitment to realizing the APEC Putrajaya Vision of an open, dynamic, resilient and peaceful Asia-Pacific community by 2040, for the prosperity of all the region’s people and future generations.
Meanwhile, coordination was called for across APEC to bolster sustainability through the Bangkok Goals. The four commitments of the document are climate action including net zero greenhouse gas emissions, sustainable trade and investment, conservation, sustainable use and management of the environment and natural resources, including biodiversity, and resource efficiency and sustainable waste management towards zero waste.
Adoption of the goals was counted among the three key deliverables from this year, alongside the FTAAP Agenda Work Plan 2023 – 2026, which is seeking to take forward the refreshed conversation on the Free Trade Area of the Asia Pacific (FTAAP) in the post-COVID context, and the Safe Passage Taskforce’s recommendations on how APEC’s safe passage work should be carried forward to continue building resilience in the region’s travel infrastructure against future disruptions.
With progress also made in important areas, such as strengthening micro, small and medium sized enterprises and enhancing the role of women in the economy, APEC, as hosted by Thailand in 2022, was able to accomplish its aspirations of making this year all about being open to all opportunities, connected in all dimensions, and balanced in all aspects.
‘Climate change poses challenges but offers opportunities for positive change’
WEDNESDAY, NOVEMBER 23, 2022
Jarupong Krisanaraj
Climate change has brought challenges but also opportunities for sustainable development, Thailand Greenhouse Gas Management Organisation executive director Kiatchai Maitriwong said on Wednesday.
He made the remarks during the online seminar “2022 The Annual Petroleum Outlook Forum: Thriving amid Global Energy Volatility towards Sustainable Future”.
Apart from flood, drought and forest fires, he said climate change also brought opportunities, such as carbon credit, contributions for developing countries to deal with climate change and green bonds.
“The problem of climate change is bigger than the economy and energy as it affects people directly,” he said.
Kiatchai Maitriwong
He said the government has launched a policy for green transition, such as carbon capture and utilisation system and tree planting campaign for generating carbon credit.
He added that the government also paid attention to waste management and greenhouse gas reduction in the agriculture and industrial sectors.
“If we can change, it will become an opportunity,” he said.
He said the Bio-Circular-Green (BCG) economy model will enable Thailand to achieve sustainable development goal, adding that technology is a crucial part of the BCG economy model.
“We will be a follower if we wait, but we will be a leader if we do it now,” he said, adding that business entrepreneurs should not be careless about sustainable development.
Kulit Sombatsiri
Meanwhile, the permanent secretary at the Energy Ministry, Kulit Sombatsiri, said Thailand would increase the proportion of renewable energy to tackle rising fuel prices in the long term.
He said the ministry has set up the National Energy Plan, focusing on increasing the number of electric vehicle users, promoting energy savings and using various kinds of renewable energy, such as solar power, biogas and hydropower.
“These are challenging issues as financial institutions would no longer grant loans for fossil fuel power plants, while the demand for 100% renewable energy manufactured electricity is expected to increase,” he said.
Cooperation between the government, the private and public sectors is key to tackling climate change and driving Thailand toward sustainability, he said.
He added that many companies are paying attention to environmental, social, and corporate governance (ESG) principle to achieve their sustainable goal.
Tharith Panpiemras
Bank of Thailand (BOT) Assistant Governor of Financial Institutions Policy Group Tharith Panpiemras said the central bank is focusing on long-term issues, including household debt and transition to the digital and green economy.
He added that many countries worldwide are paying attention to transitioning to a green economy in response to climate change.
“Hence, financial institutions must have a role in the green economy transition to keep up with global trends,” he said.
The BOT is setting up a road map to enable the government and private sectors to cooperate on the transition to a green economy, he said.
He urged business entrepreneurs, including small and medium enterprises (SMEs), to work on the environmental, social and governance principle to enable Thailand to achieve its sustainability goal.
Japan expects over a million Thai tourists in 2023
WEDNESDAY, NOVEMBER 23, 2022
The number of Thai tourists to Japan has increased more than four times — from 7,600 in September to 34,000 this month — with a million more people expected to come in 2023, as Japan ended its Covid-19 entry restrictions and eased visa requirements.
Thai-Japan Tourist Association president Anake Srishevachart forecast that Japan will see more than 10,000 Thai travellers visiting the country during the fourth quarter of this year.
“In 2023, if there is no repetition of the pandemic outbreak and the flights between Thailand and Japan are back on track, the number of Thai travellers to Japan will return to the normal level — 1.3 million people —equivalent to the 2019 pre-Covid-19 level,” said Anake.
He added that more than a million people are expected to come in 2023 to benefit from the depreciation of the yen.
A report from Japan National Tourism Organization (JNTO) said that of the 31 million foreign visitors to Japan in 2019, 1.3 million are Thai, accounting for 4.1% of visitors, while Thailand is ranked sixth among the most travellers to Japan, behind South Korea, China, Hong Kong, Taiwan, and the United States. However, Thailand was the only one in the Asean region with more than a million tourists entering Japan.
However, it is believed that the number of Japanese tourists going to Thailand is contracting due to a lack of airline flights and the depreciation of the yen.
The president of the Japan Association of Travel Agents (JATA), Tadashi Shimura, said on November 19 at the Japan-Thailand Tourism Seminar held by JNTO that he did not think depreciation of the currency is an obstacle for Japanese to visit Thailand because the baht is in a similar situation. If airlines increase their Thailand-Japan flights, it would help generate more demand for travel, he said.
JATA revealed that they had used “content” to urge Japanese to visit Thailand. Instead of Bangkok and Chiang Mai, they presented the beauty of those in secondary provinces such as Songkhla, Khon Kaen, Buri Ram, and Kanchanaburi.
Also, the association intended to boost the collaboration between management agencies through digital channels to deal with changing travelling trends.
Statistics from the World Tourism Organization (UNWTO)showed that 226 million Japanese tourists visited foreign countries during 2011-2019. Of the total, 79 million travellers went to East Asia while 40 million people went to Asean countries.
“In 2019, specifically, the number of Japanese people visiting Thailand [1.8 million] and Thai people visiting Japan [1.3 million] were more or less balanced,” said Shimura.
The Federation of Thai Industries (FTI) is highly satisfied with the growth in October’s car exports after the auto industry received more semiconductors following a global shortage.
October saw exports of 94,228 vehicles, a growth of 15.51% year-on-year (YoY).
“Vehicle exports grew greatly because manufacturers received more semiconductors,” FTI vice chairman Surapong Paisitpatanapong said. “The export value increased because PPVs have a higher value than passenger cars or pickup trucks.”
Precisely 800,672 vehicles were exported in the first ten months of 2022, a 5.48% increase YoY, with the export value being 497.28 billion baht, rising 12.40% YoY.
Meanwhile, the number of vehicles manufactured in October was 170,717, a 10.83% increase YoY.
The first ten months of 2022 saw 1,534,754 vehicles manufactured, rising by 12.36% YoY.
“The number of vehicles manufactured this year might reach the original goal of 1.8 million if manufactures continue to receive semiconductors, so the situation must be closely monitored,” Surapong said.
As for domestic sales, 64,618 vehicles were sold in October – a modest 0.24% increase YoY as the economy recovers thanks mainly to tourism and the policy making it easier for foreign investors to enter.
As of October 30, or the first 10 months of the year, a total 11,025 BEVs were sold – rising by a huge 198.54% YoY; 241,764 HEVs were registered – an increase of 32.06%; and 40,790 PHEVs were sold – a 35.38% rise.
“Electric vehicle sales are growing strongly this year – around 1,000 per month – with HEVs being the biggest sellers during this period of technological transition. When EV infrastructure is fully ready, [I] expect the proportion of BEV sales to be around 70% of total EVs,” Surapong added.
Baht may strengthen slightly with market in risk-on state: strategist
THURSDAY, NOVEMBER 24, 2022
The baht opened at 36.00 to the US dollar on Thursday, strengthening from Wednesday’s close of 36.27.
The currency will likely move between 35.85 and 36.15 against the greenback during the day, Krungthai market strategist Poon Panichpibool predicted.
He said the baht has support to strengthen as the market is in a risk-on state. Meanwhile, the rising gold price has led investors to sell the precious metal for profit.
Poon, however, expected the baht not to strengthen further than its support level of 35.80 to 35.90 to the dollar because importers are likely to purchase more of the greenback at the end of the month, especially once the baht strengthens.
Furthermore, foreign investors are selling their Thai assets for profit, which will also slow the strengthening of the baht.
Poon suggested a close watch on the country’s trade report. If exports were seen to grow greater than expected and the trade deficit was lower than market expectations, the baht could strengthen further.
However, he felt the global economy is slowing, so it is hard for Thai exports to grow greatly. This means investors should beware of the risk that the baht could weaken especially if exports and the trade deficit are worse than expected.
Poon advised investors to use hedging tools such as options to manage risks in a highly volatile currency market.
S&P retains Thailand’s sovereign credit BBB+ rating
THURSDAY, NOVEMBER 24, 2022
S&P Global Ratings (S&P) has retained Thailand’s sovereign credit rating for 2022 at BBB+, with a stable outlook, similar to last year, according to Public Debt Management Office director-general Patricia Mongkhonvanit.
S&P’s ratings report, published on Wednesday, said the Thai economy is accelerating after an extended slowdown stemming from Covid-19. The lifting of restrictions on domestic movement and border controls is helping to normalise economic activity.
Crucially, this easing of restrictions is speeding up recovery of Thailand’s tourism sector, which plays a key role in its services-oriented economy, said S&P.
The ratings agency expected Thailand’s real GDP growth to quicken to 2.9% in 2022, versus 1.5% in 2021, and forecast an average real GDP growth rate of 3.2% from 2022 to 2025.
The tourism sector could outperform higher-end expectations for approximately 10 million international visitors this year, increasing from 428,000 visitors in 2021, the report said.
S&P said the government is maintaining an emphasis on capital expenditure projects, including work on the Eastern Economic Corridor, as well as transport infrastructure under a master plan.
Ongoing investment in these areas will restore the competitiveness of Thailand’s economy, which has been characterised by relatively weak productivity growth in recent years, the report added.
Regarding finance, S&P projected the country’s fiscal deficit and accumulation of debt to fall gradually over the next three years, as pandemic-related stimulus fades and revenue performance improves.
The budget is likely to improve in fiscal 2023, after the economy begins to recover. Revenue growth will be stronger, and the need for stimulus spending will abate.
S&P said Thailand’s current account, which fell into deficit during the first quarter of 2021 and has remained there since, will benefit materially from the lifting of pandemic-era border restrictions.
Meanwhile, tourism revival will help to moderate the country’s services exports deficit, and is likely to result in a modest current account surplus from 2023.
The agency expected the current account to average a surplus of 2.1% of GDP from 2023 to 2025.
“S&P remarked that factors that require close monitoring are the global financial situation and political stability in Thailand, which could affect the performance of socio-economic policies,” Patricia pointed out.
Kiatchai Maitriwong
Kulit Sombatsiri
Tharith Panpiemras
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