The baht opened at 36.29 to the US dollar on Monday, weakening from Friday’s close of 36.03.
The Thai currency will likely move between 36.20 and 36.40 against the greenback during the day and between 35.80 and 36.40 during the week, Krungthai market strategist Poon Panichpibool predicted.
Poon said the baht will possibly weaken as the dollar strengthens and the gold price heads downward.
He suggested monitoring foreign investors’ transactions. He also expects the Thai stock index to drop next week in response to the US stock index, though this will encourage foreign investors to buy Thai stocks.
Meanwhile, the dollar won support as the market expects the US Federal Reserve to increase the interest rate by 0.75 per cent in September. The greenback may strengthen further if the US labour data is better than expected.
However, the European Central Bank’s indication that it may increase the interest rate may support the euro and slow down the dollar’s strengthening.
The strategist advised investors to use hedging tools such as options to manage risks in a highly volatile currency market.
Young Thais investing in cryptocurrencies and digital assets risk big losses due mainly to their get-rich-quick attitude and lack of experience and knowledge.
That was the warning issued by the National Economic and Social Development Council (NESDC), a government think tank, in a report on Thailand’s outlook in the second quarter.
The agency said young Thai investors also tend to base their investment decisions on instinct rather than analysis.
People aged under 30 constitute about half of registered crypto investors in Thailand, the report said, citing a study by Mahidol University’s College of Management (CMMU).
“The CMMU study found that Gen Z invests in cryptocurrencies because they want to get rich quick,” it adds.
It said this attitude turned some people into millionaires in a short period but many crypto investors also made huge losses quickly.
Almost 45 per cent of Thai crypto investors have no knowledge or understanding of the market, said the NESDC report, citing the CMMU study. This lack of knowledge, particularly among young investors, makes them more prone to making wrong decisions, it warned.
A separate survey by the Thai Securities and Exchange Commission (SEC) found that about 25 per cent of investors in digital assets made their investment decisions based on instinct alone. Meanwhile, 41 per cent used different analysis methods and 26 per cent based their decisions on the latest information.
The CMMU study also found that almost 65 per cent of Thai crypto investors traded through online platforms based overseas to avoid paying taxes in Thailand.
The NESDC report warned that crypto investors should opt for reliable platforms to avoid compromising their personal information. It said investors are often unable to examine overseas platforms properly, unlike those based in the country and under SEC supervision.
The government recently asked the SEC to lead an overhaul of Thailand’s crypto regulations after local exchange Zipmex halted withdrawals and entered bankruptcy protection. Yet despite a global meltdown that saw the crypto market lose about US$1 trillion in May and June, Thailand, a hotbed of digital currency trading in Southeast Asia, still has more than 20 SEC-registered digital asset operators.
Thailand’s e-commerce is on course for fivefold growth over the next three years, according to new Thai e-Commerce Association (Theca) president Kulthirath Pakawachkrilers.
The Thai e-commerce market is expected to grow from 817 billion baht currently to over 4 trillion baht in 2025, Kulthirath said.
Helping to drive that growth will be the new trend for virtual or metaverse commerce, she added.
“Meta-commerce is changing the world of e-commerce by adding virtual reality,” said Kulthirath as she was introduced as the association’s new chief on Thursday, replacing Thanawat Malabuppha. Kulthirath is CEO and co-founder of Thailand e-Business Centre (TEC).
Strategic Market Research forecasts the global meta-commerce market will grow to US$678.80 billion (24.4 trillion baht) by 2030. The market is currently worth about $47.48 billion.
Thai e-Commerce Association (Theca) president, Kulthirath Pakawachkrilers
The biggest driver of the Thai e-commerce market is online shopping.
The e-shopping market is expected to grow more than 128 per cent to 120 billion baht in 2025, according to Theca. The e-travel sector comes second, with a projected 29.91 per cent increase to 29 billion baht.
Ranked third is e-transportation and food delivery, which is forecast to rise 22.37 per cent to 18 billion baht.
Kulthirath said Theca’s strategy is to promote eight aspects of e-commerce: Thai e-commerce, fair competition, cross-border e-commerce, women and outreach, empowering Thai online sellers, new software, digital marketing and solutions for SMEs, and e-Commerce and future workforce.
In the situation that “food” has become more than just its deliciousness, people tend to focus more on consuming food for good health and wellness. Over the past 2-3 years, most people have changed their lifestyles and behaviors to fit with new normal life, especially preparing food by themselves or cooking at home.
However, if there is a lack of proper nutrition understanding, it may affect good health both in the short and long term. From the current data, it was shown that many Thai people are at the risk of developing non-chronic communicable diseases (NCDs) due to their improper dietary habits and nutrient intake. In particular, among Thai children, it was found that more than 20 per cent were obese and most of them consumed more than twice the amount of daily sodium as recommended by the World Health Organization (WHO).
This year, Ajinomoto (Thailand) Co., Ltd., has launched a cooking class campaign under the concept of “Delicious and nutritionally balanced diets” that gives youngsters the opportunity to have fun experience through cooking practice on how to easily make a delicious balanced meal.
Through this program, Ajinomoto has passed on its amino acids’ expertise and healthy nutrition with umami into a fun cooking class to encourage the young generation to pay attention to health visualization. Recently, the cooking class was joined by a group of 50 young students from Satri Si Suriyothai School to practice cooking skills through the menu “Healthy Delicious Soft Omelet”, led by Chef Akradej ‘Benz’ Techakrenee, an experienced young chef, to demonstrate and share cooking techniques along with easy nutrition knowledge throughout the activity, which took place at Ajinomoto Cooking Space, Ajinomoto’s Head Office, Bangkok.
According to the Ajinomoto Group’s objective to become “a solution-providing group of companies for food and health issues through unlocking the power of amino acids to support the healthy lives of people all around the world”, we strive to deliver our intention of “nutrition without compromise” as a part of The Ajinomoto Group Creating Shared Value (ASV) policy, to which we have adhered as always.
Chiang Mai will showcase the recovery of micro-, small and medium-sized enterprises (MSMEs) in Thailand when the country hosts world leaders at Apec meetings from next month.
The spotlight will focus on how Thailand’s bio-circular-green (BCG) economy model is aiding sustainable recovery, said Foreign Ministry permanent secretary Thani Thongphakdi on Friday.
Thailand is hosting four meetings of the 21-member Asia-Pacific Economic Cooperation (Apec) forum – two in September and one each in October and November.
Apec, which accounts for 62 per cent of global GDP, plays a critical role in determining the direction, policies and standards of global trade and investment.
Thani said Thailand will host 1,000 delegates and representatives attending over 100 Apec-related meetings throughout the year.
This was an excellent opportunity to demonstrate the country’s competitiveness, particularly among local MSMEs, which account for more than 70 per cent of business in the country, he told the Apec Media Focus Group forum at Chiang Mai University.
Cherdchai Chaivaivid, director-General of the Department of International Economic Affairs, said it was critical for Thailand’s MSMEs to think outside the box and adapt to trends in order to grow in the aftermath of Covid.
“Profit is no longer the number one priority in business,” he said, on the topic of “Sustainable MSMEs, Women, and Business”. “However, being responsible for your community and the environment will eventually pay off.”
Thailand has over 3.1 million MSMEs in total, with Chiang Mai accounting for about 100,000.
The northern capital will offer practical examples of how small businesses are using the BCG model to recover and thrive, the Foreign Ministry said.
Akom Suwanganta, president of the Federation Thai SMEs, Chiang Mai Chapter, said Chiang Mai residents understand the importance of sustainability after suffering PM2.5 air pollution for years.
“Our members work with researchers to find ways to improve both their products and the process of running their businesses by using more environmentally friendly methods,” Akom said.
Their focus is on “fewer carbon emissions, less waste, less energy consumption, and greater community responsibility”, he added.
Local entrepreneurs are also benefiting from increased support under Chiang Mai’s five-year provincial development plan (2023-2027). Value-added agriculture is one of the key drivers.
Under the BCG model, high-value processed agriculture and food innovations of the future will be developed, as will trade and investment based on the creative economy, innovation, and sustainability.
Pitiwat Wattanachai, president of Chiang Mai University’s Science and Technology Park, said the institution is helping local business owners to apply technology and innovation to boost operations.
He cited Hillkoff, a local hill-tribe coffee brand that is using the texture of the beans to create new products like coffee balsamic. Other new MSMEs are launching into business by enhancing and expanding on previous research, he added.
The Foreign Ministry is hosting an Apec exhibition at Central Festival Chiang Mai until August 30. The aim is to promote awareness and benefits of Apec membership to Chiang Mai businesses and locals.
The National Wage Committee has given the green light to increase the average minimum daily wage by 5 per cent to 337 baht, likely effective from October 1.
Labour Ministry permanent secretary Boonchob Suthamanaswong, who chairs the panel, said on Friday it had resolved to raise the minimum wage by 5.02 per cent.
The committee consists of representatives of employers, employees and the government.
The Labour Ministry will forward the resolution to Cabinet for endorsement so the new minimum wages could come into force on October 1, Boonchob said.
The new minimum wages vary from 328 to 354 baht depending on location.
Three provinces – Chonburi, Rayong and Phuket – will see the highest increase, to 354 baht.
Bangkok and its five satellite provinces — Nonthaburi, Nakhon Pathom, Pathum Thani, Samut Prakan and Samut Sakhon — will see the minimum wage raised to 353 baht.
The lowest hike — to 328 baht — will apply to Yala, Pattani, Narathiwat, Nan and Udon Thani.
Boonchob said that in making its decision, the National Wage Committee attempted to balance businesses’ survival with employees’ ability to cope with the rising cost of living.
The panel also proposed measures the government could implement to curb possible impacts of the wage hike on business operators, the permanent secretary said.
Thailand’s unemployment rate was 1.37 per cent in the second quarter, with 550,000 people without jobs, but the outlook is improving as the economic recovery continues, according to the National Economic and Social Development Council (NESDC).
NESDC secretary-general Danucha Pichayanan said on Friday that the jobless rate in the second quarter of 2022 was the lowest since the country was first hit by the Covid-19 pandemic in 2020.
He said Thailand’s employment situation has seen continued improvement in the second quarter, with 39 million people being employed in the system. That was a 3.1 per cent expansion from the same period last year, the highest since Covid-19 struck.
“This reflects a recovery in the labour market as the economy is making a positive adjustment due to increased consumption and exports,” the NESDC chief said.
Employment has increased in the production, retail,wholesale, transportation and warehousing sectors, ranging from 4.9 to 12.1 per cent.
NESDC data showed the hotel/restaurant and construction sectors saw a decline in employment— 2.6 and 5.4 per cent, respectively.
Construction projects have stalled due to concerns about economic uncertainties as the prices of construction materials have increased considerably.
Meanwhile, the hotel/restaurant sector has seen a slow recovery from the Covid-19 fallout as foreign tourists are returning to Thailand. However, demand for services has remained much lower than in the pre-Covid period.
In the agricultural sector, 11.7 million people were employed in the second quarter, a 0.8 per cent decrease from the same period last year.
However, employment in the non-farm sector increased 4.9 per cent with 27.4 million people employed.
Danucha said that inflation had resulted in wages being less valuable than before, particularly for low-skilled workers. He added that the government had come up with many measures to help shoulder the higher cost of living for those people, including subsidies for electricity and tap-water costs.
Thai exports in July rose 4.3 per cent from last year to US$23.629 billion, the Commerce Ministry reported on Friday.
The value of exports excluding products related to oil, fuel and weaponry grew 4.1 per cent to $20.306 billion.
Meanwhile, trade value in the first seven months rose 11.5 per cent from the same period last year to $172.814 billion.
Trade excluding oil, fuel and weaponry grew 8.3 per cent to $147.451 billion.
Commerce Minister Jurin Laksanawisit credited the rise to increasing demand for food, easing of Covid-19 lockdown measures, falling freight costs, and the weakening baht.
However, the ministry said the value of Thai exports is likely to fall in the second half amid a slowdown in economies of trading partners and the global inflation crisis.
The semiconductor shortage also hit trade values in July.
Upgrading its knee and hip replacement services, introducing robotic arm technology for artificial joint replacement, and using innovations to help relieve pain.
Thammasat University has heavily invested in the “Thammasat Joint Replacement Center,” the only one-stop-service center in Southeast Asia with expertise in knee and hip replacement. It highlights three main benefits of delivering seamless treatment, increasing the accuracy of the surgeons with the help of robotic arm technology and innovations to relieve pain throughout every stage of the surgery under the supervision of a team of medical professors and personnel, and offering the services at an affordable rate. It can also increase the surgical capacity from 1,000 at present to 5,000 replacements per year. This will allow the center to provide services to Thai and foreign patients in the region as it aims to develop the center as a leading joint replacement center in Asia.
Assoc. Prof. Dr. Paruhat Tor-Udom, Director of Thammasat University Hospital, said, “Since the hospital’s establishment in 1987, it has developed medical personnel and treatment technology and gained trust from many patients. We have surgeons who specialize in orthopedic surgery and modern equipment. Each year we perform knee and hip surgery on over a thousand patients. The rising number of aged persons, the higher body mass index, and some occupations that require more use of knees and hips are all factors that lead to more osteoarthritis patients who need joint replacement.
It has been an ongoing idea to build a specialized medical center. “Thammasat Joint Replacement Center” is one of the projects that focuses on excellent and state-of-the-art surgery. The three highlighted benefits include (1) Modern technology using surgical robotic arms to improve accuracy, reduce damage to surrounding tissue, and provide globally-recognized innovations to relieve pain before, during, and after the surgery. This will help improve the patient experience, ensure a quick recovery time of 2-3 days, and decrease patients’ concerns about surgery pain; (2) provide supervision from a team of interdisciplinary medical professors and specialists; and (3) provide an affordable rate. Marked as the first one-stop-service joint replacement center in ASEAN, the center can increase the surgical capacity from 1,000 to 5,000 replacements per year, with a plan to further develop it to be a leading joint replacement center for patients in Asia.
Assoc. Prof. Gasinee Witoonchart, Rector of Thammasat University, said, “Thammasat University Hospital is very proud of the ‘Thammasat Joint Replacement Center’ as it resonates our determination to deliver excellent services in healthcare treatment, rehabilitation, disease prevention, and health promotion to people. We have upgraded the knee and hip replacement to improve the patient experience, provide high-quality and durable prosthetic joints, and ensure comfort and convenience in getting our services.”
Assoc. Prof. Dr. Nattapol Tammachote, Assistant Director of Infrastructure Management and a medical professor specializing in knee and hip replacement at Thammasat University Hospital, said, “Thammasat Joint Replacement Center is located on the 2nd floor of Dulasophak Building, Thammasat University Hospital. It provides a one-stop service with a team of specialists, nurses, and personnel who are ready to take care of patients before, during, and after the surgery.
The robotic arm technology enables the surgeons to perform the surgery with better precision, using computerized tomography with a 3D model of the joints. This can reduce errors in positioning the implants in the precise spot and causing less pain after the surgery. However, every surgical patient is different. Such technology will allow the surgeons to develop a customized plan to fit each patient’s unique anatomy, including determining the implant size and measuring soft-tissue balance. It also helps deliver a better result, quicker recovery, and shorter hospitalization time. Based on research studies, robotic arm technology can increase positioning accuracy and precision more than conventional replacements by 50%. Patients will experience less pain and can resume their normal activities and improve their quality of life.”
Those interested can ask for more information at “Thammasat Joint Replacement Center” at 0 2926 9260 or 0 2926 9360 during government office hours.
dtac aims to repeat 2021’s achievement of zero deaths and severe injuries of telecom tower climbers with “Mission Zero”, contributing to the company’s supply chain sustainability goals.
As dtac strives to expand its network to enhance customer experience nationwide, the extensive deployment of base stations means more technicians on the job. On any given day, an average of 80 technicians – called “tower climbers” – scale telecom towers up to 100 meters in height as part of their job to expand or maintain the network. Working at such heights is an occupational hazard with the risk of falling leading to possible severe injury or even death.
To maximize occupational safety and minimize risk and incidents, dtac requires all suppliers and partners for tower climbers to train and pass our tower climber course.
Prathet Tankuranun, Chief Technology Officer of dtac, noted, “As a network operator, we not only strive to expand our network to enhance the experience of our growing customer base but also ensure the safety of all telecom tower climbers. dtac’s Responsible Business mantra ensures that the health, safety, and well-being of all our employees and those in our supply chain are equally looked after.”
Focusing on enhancing customer experience, dtac fulfilled its target of expanding 5G to all 77 provinces of the country by the first half of 2022. Accelerated deployment on low-band continued, with 4,600 sites added in H1 for a total of approximately 17,800 base stations on the company’s 700 MHz spectrum. In addition, the number of 4G-2300MHz installed base stations under the company’s partnership with NT reached approximately 21,700 at the end of Q2/2022.
dtac’s Tower Climber Course focuses on the following safe climbing procedures:
A safety helmet must be properly worn at all times on site.
Only a properly applied climbing harness with both chest and back D-ring may be used on every climb.
Only long-sleeved shirts and full-length pants may be worn on a climb.
Electrical hazard safety footwear must be worn.
No persons at ground level are permitted within a 10-meter radius of the telecom tower while a climber is at work.
dtac Mission Zero places great importance on five key goals when working with suppliers and business partners:
1. Zero incidents resulting in death or severe injuries
2. Zero incidents causing grave pollution to the environment
3. Zero human rights violations
4. A hygienic and well-balanced work environment
5. Zero corruption.
dtac’s core activities require the company to work with a large number of suppliers, especially in network operations. It is thus vital to conduct risk assessments of our suppliers and provide them with training with the end goal of raising their standards at every tier.
In 2021, dtac has provided capacity-building training to 5,855 persons from 55 suppliers and exceeded its target of 3,500 training hours.
dtac believes connectivity is a powerful enabler and equalizer to drive meaningful changes in society. Based on our responsible business practices, we continue to innovate and improve our way of work to embrace change faster and better, promote resilience, and achieve sustainable growth.
Thai e-Commerce Association (Theca) president, Kulthirath Pakawachkrilers
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