Central Chanthaburi now open!

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The largest mixed-use project of the East aims to help thrust Thailand’s economy and tourism, spotlighting the local pride under the concept of ‘Charming Chanthaburi’

Central Chanthaburi now open!
  • The first and most comprehensive mixed-use project in the province that meets city lifestyles with its semi-outdoor design offering over four rai of green area, a venue for all types of activities for everyone in the family, a pet friendly space and a perfect sports destination.  
  • Pioneer building a new ‘Urbanized Landmark’ and co-creating with local people to highlight the charms of Chanthaburi in order to help boost the economy and tourism as well as enhancing Chanthaburi in all aspects.
  • Celebrate the grand opening with a spectacular show from ‘Yaya Urassaya’ singing a special version of ‘Kho Chan’, with music played by ‘Kasetsart University Wind Symphony’.
  • Packed with promotions and up to 50% discounts from Central Group’s brands and shops such as B2S, Powerbuy, Supersports, Baan & Beyond, Tops and more in addition to get a chance to win the big prize of a TOYOTA COROLLA HYBRID SMART.
     
Central Chanthaburi now open!

Chanthaburi – Central Pattana plc, Thailand’s leading sustainable real estate developer and operator of Central shopping centers nationwide, celebrates the official opening of ‘Central Chanthaburi’ on May 26. This is the largest and most comprehensive mixed-use project in the eastern region, comprising a shopping center, a convention hall, a condominium and residential project and a hotel. The project utilizes a semi-outdoor design to maximize exposure to its green areas of four rai, where visitors will find a running track, bicycle parking area, exercise area, a social park, a family playground, a pet playground and cafés.

Central Chanthaburi is Central Pattana’s first provincial project designed as a sports destination, with a multi-purpose area of over 4,000 sq.m., located in a prime location in the heart of the city; the project is ready to support economic and tourism expansion. Central Pattana has co-created with local people to promote Chanthaburi’s highlights in all aspects, creating jobs and distributing income to the community as well as promoting the quality of life through green space, paying attention to the well-being of the people in addition to high standards of cleanliness and safety.

Central Chanthaburi now open!

Ms. Wallaya Chirathivat, President & CEO of Central Pattana plc, said: “Central Pattana operates our business under the vision of ‘Imagining better futures for all’ as a role of ‘place maker’ who creates the places of the future to improve the quality of life, wherever our projects are situated. Central Chanthaburi is Central Pattana’s 37th shopping center in Thailand. This project is more than just a real estate project, it is the next step of city development as it will generate growth for the city in all aspects to support the economic expansion and tourism of Chanthaburi province as a fringe city of the EEC, with three key strategies as follows:

1) Pioneer the City: Pioneer opening up the city and co-creating with local people to help push Chanthaburi to shine at the national level and also pave the way to the international level. Central Chanthaburi, the largest mixed-use project in the eastern region is a new ‘Urbanized Landmark’ and the most advanced Center of Life that meets all lifestyles of Chanthaburi residents. The project design reflects the local essence and the identity of Chanthaburi. Central Chanthaburi is joining hands with local communities and people to promote the charm of Chanthaburi in all aspects to attract tourists and generate more income for the community in the campaign ‘Chan’s Heroes’, with six local heroes of local craftsmanship, tourism, food and lifestyles to create more tourism charm. With the aim of helping raise awareness of Chanthaburi, Central Pattana is piloting the ‘Chanthaburi Fruit Festival’ roadshow to promote popularity for the province – its delicious fruits and more – at cross-regional branches of five prime locations in Bangkok to help generate more income for farmers and SMEs in Chanthaburi.

Central Chanthaburi now open!

2) The New Urbanized Landmark: A comprehensive Center of Life that enhances the lifestyles of Chanthaburi residents and helps build local wealth by highlighting local products, pushing forward tourism, and generating additional income for communities. Throughout the Central Chanthaburi area, stories of Chanthaburi are shared in different aspects including tourism, local arts and culture, provincial products and other items.

3) Charming Chanthaburi: Highlighting the charm of Chanthaburi in all aspects under the concept of ‘Charming Chanthaburi’: The Charm as a Center of Life, with the most comprehensive center of living that meets the needs of every activity for everyone in the family with a Kid’s Playground and Pet Zone. Central Chanthaburi prioritizes the well-being of Chanthaburi people with abundant green area and a sports destination. Discover the LASERPLEX cinema at Chanthaburi Cineplex, with the most cutting edge innovative audio-visual system. The Charm of Shopping – meet the modern urban lifestyle, with more than 150 popular brands including well-known brands that are opening their shops for the first time in Chanthaburi such as Uniqlo, Jaspal, Lyn, CC OO, CPS: Adidas, Skechers, Converse, Crocs, Havaianas and Beautrium; first restaurant branches such as Bonchon, AKA, Sizzler, Coco Ichibanya, Krispy Kreme. The Charm of Chanthaburi Province – highlights Chanthaburi’s Local Essence with design and decorations that are inspired by Chanthaburi’s Art & Culture, local identity and recommended products. The facade of Central Chanthaburi reflects the design of ‘Chanthaboon Mat’ and there are several highlighted check-in points that reflect local identity such as the ‘Ruan Chanthaboon’ seating area, which overlooks great views of the surrounding river and mountains, ‘Chan Viewpoint’ is inspired by a treehouse and below the viewpoint, you can find lovely cafés with great drinks; at the upper part of the viewpoint, you can see the Khlong Phakdi Rampai River in a wonderful 360˚ perspective, ‘Lan Chan-In’, a relaxing seating area decorated with provincial trees such as In Chan (Gold Apple) and fruits such calamansi, mangosteen and durian. ‘Charn Chan’ is a co-working space with a chic café and the cute Rabbit Art Features. In addition, there is a center that gathers together popular and recommended items from each district in Chanthaburi; the Ploy Chan Zone gathers together popular gemstone shops in one place, Chan Jao Market is where you can taste local dishes and great fruits with a transportation hub and a tourist hub ideal to drop by and shop for souvenirs. The charm of festivals – Central Chanthaburi will ensure that people in Chanthaburi will enjoy all festivals, starting with the grand opening celebration event on 26 May, and be prepared to enjoy more events and activities that meet all lifestyles covering food, fashion, sports, family, pets, music and art that will be held throughout the year.

Central Chanthaburi now open!

Highlights at the Grand Opening event on May 26 and special promotions

Enjoy a special show entitled ‘Whisper of Charm’ that will bring happiness to Chanthaburi residents, with a combination of ballet and acrobatics inspired by the moon and a spectacular show of a special version of ‘Kho Chan’ played by ‘Kasetsart University Wind Symphony’ with ‘Yaya Urassaya’ singing. Other highlighted events include:

• ‘Charming Chanthaburi – Colorful Chanthaboon’ will gather together local wisdom-inspired products and community items such as popular goods from ten districts in Chanthaburi, Chanthaboon reed mats from the Ban Samet Ngam Community, a craft exhibition from KORKOK, rare old-recipe desserts from Nong Bua exotic desserts community, and enjoy a Chanthaboon coffee, cocoa and durian buffet at affordable prices from May 26 to June 8, 2022.

• ‘CHAN FRUITFUL MARKET’ will bring you Chanthaburi’s popular and delicious fruits with the highlight of happy hour: Monthong durian starts at 55 baht and other fruits start at 1 baht. Enjoy food and desserts made from Chanthaburi fruit in addition to the cool photo spots from May 26 to June 8, 2022.

• CHANTHABURI PRESTIGE COLLECTION – first time in Chanthaburi you can experience a motor expo with luxury cars and EV cars at Chanthaburi Hall from May 26 to June 5, 2022.

• CHANTHABURI ART HAPPENING – a cool art project at Chanthaboon Waterfront Community proudly presented by Central Chanthaburi. The art display reflects the charms of Chanthaburi in different aspects and offers a unique experience for both Chanthaburi residents and tourists to show the local essence that the people of Chanthaburi are proud of; with fantastic artwork being displayed in a chilled-out atmosphere at Chanthaboon Waterfront Community from today to June 20, 2022.

Deals and promotions for the opening celebration from May 26 to July 31, 2022 – enjoy up to 50% discounts from shops and brands under Central Group such as B2S, Powerbuy, Supersports, Baan & Beyond, Tops, Chanthaburi Cineplex and more. Get a chance to win a TOYOTA COROLLA HYBRID SMART worth 1,020,000 baht when spending over a specified amount. Spend certain amounts on shopping and get a Chanthaburi tote bag limited edition, movie tickets from Chanthaburi Cineplex, 0% interest installment payments, up to 25% cash back and additional discounts on participating credit cards (subject to the company’s terms and conditions – kindly check at the redemption point).

For more information, please visit Facebook page: https://www.facebook.com/CentralChanthaburi
 

Published : May 27, 2022

By : THE NATION

Consumer protection group opposes True-DTAC merger in letter to NBTC

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https://www.nationthailand.com/business/40015980


The People’s Network Protecting Public Interest on Thursday submitted a letter to the National Broadcasting and Telecommunications Commission (NBTC), strongly opposing the planned merger of two large telecom operators.

Consumer protection group opposes True-DTAC merger in letter to NBTC

The group submitted an open letter, which was addressed to NBTC chairman Sarana Boonbaichaiyapruck, opposing the amalgamation of True Corporation and Total Accession Communication (DTAC).

The letter said the merger, if approved by the NBTC, would cause grave damage to the consumers and to public interest.

The letter cited a figure of the NBTC Office to back its opposition. It said the NBTC reported that there are now 141 million mobile phone numbers and 132 million of them are provided by the three leading operators — Advanced Info Service (AIS), True and DTAC.

The letter said the three leading operators provide service to 93 per cent of mobile phone numbers in the market so they have influence in the market.

It said if the second and third largest operators in terms of subscribtion numbers — True and DTAC — are allowed to merge, it would create a duopoly in the telecom industry and the consumers would definitely be taken advantage. Service prices would definitely rise without giving choices to consumers.

The letter also cited a study by Chulalongkorn University to back its opposition. The letter said the study showed that if the number of key players in the telecom industry are reduced from three to two, each would command market share of at least 45 per cent and service prices would increase by 20 to 30 per cent in the long run.

Consumer protection group opposes True-DTAC merger in letter to NBTCThe letter said Thai consumers had already suffered enough after the government agency in charge of supervising free trade had allowed the merger of a large retailer and wholeseller, allowing a large conglomerate to control the market from the start to the finish. It alleged that the monopoly of retailing and wholeselling by the conglomerate had caused consumer goods prices to rise, causing suffering to the people.

The letter said all sectors had earlier hoped that the new NBTC members would carry out their duties efficiently, without being influenced by any funds or conglomerates.

But, the letter said, reports pointed out that the new NBTC appeared to follow the footsteps of the caretaker NBTC that it succeeded by considering the merger on grounds that the NBTC has to observe the existing laws and regulations earlier enacted by the NBTC.

Earlier, the new NBTC held a focus group public hearing among those related to the telecom industry and business partners of telecom operators. Most participants voiced support for the merger.

The NBTC has yet to listen to the opinions of academics and consumer groups in two more focus group hearings.

The letter said the NBTC’s citing of restrictions of law and regulations had raised concerns among consumer groups that the watchdog would eventually approve the merger and repeat the mistake of allowing the merger of the retailer and a whole seller.

The network called on the NBTC to carry out its duty of adhering to the principle of free and fair trade without allowing itself to be influenced by large corporates.

The letter warned that if the NBTC approved the merger, it would be condemned as the one who had tainted the history of Thai telecom industry.

Published : May 26, 2022

By : THE NATION

Bitkub’s Group CEO attends “DeFi – Future of Decentralized Governance” discussion at World Economic Forum: Davos 2022

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https://www.nationthailand.com/business/40015978


May 24 – Mr Jirayut Srupsrisopa (Topp), Founder & Group CEO of Bitkub Capital Group Holdings Co Ltd, a Thai blockchain unicorn startup, was invited to attend a visionary discussion on the topic “DeFi – Future of Decentralized Governance” with international experts including: Mr Rahul Singh – President of Financial Services and Digital Process Operations, HCL Technologies, Mr Akash Shah – Chief Growth Officer, BNY Mellon and Mr Hans-Paul Bürkner, Global Chair Emeritus, Boston Consulting Group.

Bitkub’s Group CEO attends "DeFi - Future of Decentralized Governance" discussion at World Economic Forum: Davos 2022

Mr Srupsrisopa has been officially invited to attend the World Economic Forum (WEF) – a well-known event on the global stage for its activities to suggest direction in economic, social and development policies at the international level through a network of leaders in politics, business and civil society.

The panel discussion were held at Dome F, Ice Village, Davos-Klosters. It is interesting to note that DeFi’s story has been brought up in serious international economic forums and has attracted the attention of attendees from various sectors. And there are interesting questions about DeFi such as DeFi Definition & Used Cases, DeFi Governance, and Role of Traditional Governance in DeFi. 
 

“Participating in this event is another important step that has brought Thailand into global awareness of its leadership in digital assets and blockchain. Last year was the year that digital assets experienced exponential growth in Thailand. We have the largest number of crypto holders per capita in the world and ranked 3rd in the world for the number of DeFi users. Moreover, the Thai public and private sectors are working together to push the rules on digital assets to keep users safe and protect investors. and together to educate people to the best of their ability” Said Mr Srupsrisopa 

And in particular, “Bitkub Capital Group” is a private organization from Thailand that operates on blockchain technology infrastructure, digital assets exchange, cryptocurrency & blockchain education, Investment in Blockchain-related Startups and Web 3.0, which is considered the infrastructure of the digital economy until the success and has been mentioned as the first fintech unicorn in Thailand.

Published : May 26, 2022

By : THE NATION

EVP Network, a Thai-Hong Kong joint venture, to promote clean energy with the expansion of 600 charging stations across Thailand by 2023

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https://www.nationthailand.com/business/40015968


EV Network Co., Ltd., a distributor of electric vehicle charging equipment for electric charging stations under the EV Network brand, held a press conference to sign a joint venture agreement with EV Power, a Hong Kong-based leading manufacturer and service provider of electric vehicle charging stations with more than 10 years of experience in electric power.

EVP Network, a Thai-Hong Kong joint venture, to promote clean energy with the expansion of 600 charging stations across Thailand by 2023

The joint venture aims to expand 600 charging stations throughout Thailand by 2023. They also announced the plan to enter the CLMV countries: Cambodia, Laos, Myanmar and Vietnam with the hope to support the society making transition towards using clean energy.

EVP Network, a Thai-Hong Kong joint venture, to promote clean energy with the expansion of 600 charging stations across Thailand by 2023

Mr. Thananwaruth Limsongport, CEO of Srisomboon Group and EVP Network, said that EV Network was founded with the idea to help reduce consumers’ cost of living in an era when global crude oil price has risen sharply creating direct impact on manufacturers and consumers around the world. Creating electric vehicle industry and electric charging station is the approach that we believe it has a good prospect for rapid growth. Therefore, we have joined hands with Mr. Prem Butsri, the owner of an import and export company, Ms. Anuttra  Promtaveesit, the owner of Centara Watergate Pavillion Hotel Bangkok and Shopping Center, to set up EV Network Co., Ltd. hoping to be part of changing society for the better. EV Network Co., Ltd. has entered joint venture with EV Power owned and managed by Chief Executive Officer Mr. Laurence Chan. EV Power is a major electric vehicle charging station producer and service provider which has its own platform. It is the top service provider of EV charging stations in China and Hong Kong with more than 7,000 charging stations and over 20,000 charging platforms, covering more than 30 cities across China.

EVP Network, a Thai-Hong Kong joint venture, to promote clean energy with the expansion of 600 charging stations across Thailand by 2023

“We aim to integrate diverse industry experience under our management with the expertise of EV Power’s technological development to drive the joint venture company — EVP Network towards steady growth and we are ready to be part of encouraging Thai automotive industry to turn into using clean energy in electric vehicles instead of fuel. This can help reduce the cost of living for automobile users and business operators directly. We target to expand 100 charging stations under the EV Network Station within this year and plan to expand 500 additional charging stations within next year. This enables us to provide electric charging stations at every 150 km, making it convenient for all Thai users of electric vehicles. We are confident that from the number of charging stations that we operate, we will have a market share of approximately 20% of the total number of service providers,” said Mr. Thananwarut.

EVP Network, a Thai-Hong Kong joint venture, to promote clean energy with the expansion of 600 charging stations across Thailand by 2023

Published : May 26, 2022

By : THE NATION

OTO signs Xerxia to strengthen its Valorant e-sport team

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One to One Contacts (OTO) has signed Thai national e-sport team Xerxia to Phygital Space Development, which it owns 49 per cent of through OTO subsidiary Inno Hub, to strengthen the company’s fleet of Thai e-sport teams.

OTO signs Xerxia to strengthen its Valorant e-sport team

OTO president and CEO Khanawut Wattanathirach said Phygital Space Development (PSD) is a leading games and e-sport platform developer that aims to promote e-sport teams with high potential in popular games such as Valorant, PUBG (PlayerUnknown’s Battlegrounds) and Free Fire.

“The Xerxia team is highly successful in Valorant and has received several awards, including the Community Champion title in the FPSThailand Tournament, the first place in the Valorant Champions Tour: Thailand Stage 1 Challengers, and subsequently second place in the Asia Pacific round of the Valorant Champions Tour in March,” he said.

“The team finished in 9th place in the Valorant Champions Tour: Master 1 in Iceland last month, which is the last round of global tournaments of the game.”

OTO signs Xerxia to strengthen its Valorant e-sport team

Valorant is a highly popular online team-based shooting game with player bases worldwide. In each match, two teams of five players are pitched against each other in various environments and use tactical techniques, skills and team efficiency to beat the opponents.

“PSD is also planning to promote e-sport teams of other multiplayer games such as PUBG and Free Fire, aiming to build professional teams in five games within the year and another seven games within 2023,” said Khanawut.

“Our target is to see our e-sport teams ranked in the global top 20 with a combined market value of more than US$200 million [THB6.84 billion] by 2025.”

Xerxia was established in October 2021 for the PUBG contest and has become well-known in Thailand’s e-sport circles thanks to top player like Rungrattanachai “HoN_BoYa” Sungsuk, who serves as the team’s coach.

The team switched to Valorant in January this year after scoring all players from the X10 Crit team that came fifth in global world rankings, as well as 17-year-old hotshot Thanachart “Surf” Rungapajaratkul.

A mere 15 days after switching to Valorant, Xerxia claimed the Community Champion title at the FPSThailand Tournament.

“As a leading tech company, OTO is committed to propelling the e-sport industry forward in both Thailand and at the global level. We believe we can expand our revenue base in e-sport to reach the same level of international e-sport clubs, which have a market value of between $200 million and $500 million,” said Khanawut.

“E-sport is a new S Curve industry that has strong growth potential and can generate sustainable returns on investment for shareholders in the long run,” he added.

Published : May 26, 2022

By : THE NATION

GULF joins forces with GUNKUL to jointly develop 1,000 MW of renewable energy within 5 years

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https://www.nationthailand.com/business/40015955


GULF, represented by Ms. Yupapin Wangviwat (left), Chief Financial Officer, signed a Joint Venture Agreement with GUNKUL, led byMs. Naruechon Dhumrongpiyawut (right), Chief Operating Officer, Strategic Investment and Sustainable Energy Business, to establish a joint venture to study opportunities and operate renewable energy businesses in Thailand and overseas.

GULF joins forces with GUNKUL to jointly develop 1,000 MW of renewable energy within 5 years

GULF announced the establishment of a joint venture company with GUNKUL to jointly drive the nation’s investment and development of renewable energy projects with the aim to reach a target of 1,000 MW within 5 years. The joint endeavor is in line with Thailand’s National Energy Plan to achieve carbon neutrality. 

GULF joins forces with GUNKUL to jointly develop 1,000 MW of renewable energy within 5 years

Ms. Yupapin Wangviwat, Chief Financial Officer, Gulf Energy Development Public Company Limited (GULF), stated “The Board of Directors’ has approved Gulf Renewable Energy Company Limited, a wholly-owned subsidiary of GULF, to enterinto a Joint Venture Agreement with Gunkul Engineering Public Company Limited (GUNKUL) with the purpose to study opportunities and operate renewable energy businesses, namely, wind power projects in Thailand and overseas, solar power projects, and other types of renewable energy-related projects, including businesses related to energy innovation e.g. microgrid & smart meter in the future. Gulf Renewable Energy and GUNKUL are expected to equally hold 50% stakes in the aforementioned joint venture.”

This collaboration leverages the strengths of each partner, as GULF is well-established in the power business with a portfolio of green energy projects in domestic and overseas markets and has an extensive business network, while GUNKUL has expertise in integrated renewable energy business and construction. As a result, this partnership will support the joint venture’s capability to operate renewable energy businesses, which is aligned with the National Energy Plan to increase the proportion of electricity generation capacity from renewable energy to achieve the targets to be carbon neutral by 2050.

Moreover, this investment is also in line with GULF’s data center business operations and fulfills the demand for electricity generated from clean energy from large customers such as hyperscalers, with the goal to reduce greenhouse gas emissions in accordance with the global energy trend.
 

GULF joins forces with GUNKUL to jointly develop 1,000 MW of renewable energy within 5 years

Ms. Naruechon Dhumrongpiyawut, Chief Operating Officer, Strategic Investment and Sustainable Energy Business, Gunkul Engineering Public Company Limited (GUNKUL), revealed “This Joint Venture Agreement marks a major step for GUNKUL in completing the energy landscape ranging from a residential scale up to the utility one. The aim of this collaboration is to bring success to the joint venture company as our representatives to capture potentials of future renewable energy space. The company intends to increase wind and solar energy production megawatt capacities both domestically and internationally. Thanks to GULF’s expertise in the utility – infrastructure businesses with an extensive business network, while GUNKUL is considerably a leader in the integrated renewable energy with expertise in engineering and construction, covering a wide range of utility constructions (transmission line and distribution of electricity from power plants to consumers). With united strength, we believe that synergy will be created between two companies, and therefore will drive an increase in GUNKUL’s combined production capacity to achieve the 2023 target that was announced earlier.”

“Besides opportunities to develop every possible space into usable power plants, which serves people’s electricity usage in a wide range of applications, the impact of this collaboration is not only limited to an environmental aspect but also social and economic aspects through carbon credit and REC scheme. Trading carbon credits as a result of the reduced greenhouse gas emissions from the growing renewable capacities should create promising revenue streams for both parties involved and lead to a positive transformation where we will ultimately see Green Energy Landscape for Thailand,” Ms. Naruechon concluded.

GULF joins forces with GUNKUL to jointly develop 1,000 MW of renewable energy within 5 years

Published : May 26, 2022

By : THE NATION

Baht volatility continues as market keeps close watch on US inflation

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https://www.nationthailand.com/business/40015992


The baht opened at 34.20 to the US dollar on Friday, unchanged from Thursday’s closing rate.

Baht volatility continues as market keeps close watch on US inflation

The currency is expected to move in a range between 34.10 and 34.30 on Friday, said Krungthai Bank market strategist Poon Panichpibool.

Poon said the baht might fluctuate and strengthen during the day as the market opens to more risks.

However, any rise in the baht’s value would be limited by importers buying dollars at the end of the month.

US inflation data may also cause fluctuation in the currency market. The market is worried the US Federal Reserve might increase the interest rate to rein in inflation, causing the dollar to strengthen and placing downward pressure on the baht.

Poon forecast the baht could swing in a range of 34 to 34.40 until new market factors arise.

He advises businesses to use hedging tools such as options to manage risks in the highly volatile currency market.

Published : May 27, 2022

By : THE NATION

BOT board chief expects policy interest rate to rise

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The chairman of the Thai central bank’s board said on Thursday that the policy interest rate would have to rise from the current 0.5 per cent, but he could not tell how soon.

BOT board chief expects policy interest rate to rise

Porametee Vimolsiri, chairman of the Bank of Thailand’s board of directors, was speaking at the “New Chapter of Thai Economy” seminar held by Prachachart Turakij.

He said the policy rate, which has been kept at 0.5 per cent since May 20 2020, is likely to be increased. The Monetary Policy Committee will decide when to raise it.

He said the policy rate had been reduced to very low levels so it would have to rise.

Porametee told the seminar that the Thai economy is still being affected by external uncertainties, including the protracted Russia-Ukraine war and the decision by the United States to adjust its monetary policy.

Porametee said a country that still needs to achieve economic strength, like Thailand, needs to have a balance between economic stimulus measures and inflation control.

He said the economic recovery of the country is still uncertain and economic growth may be lower than the projection and the inflation rate may be higher than what is predicted.

He explained that although the BOT and the National Economic and Social Development Board expected some 5 million to 6 million foreign tourists to visit Thailand this year, it is yet to be seen whether the goal would be met.

Porametee said the post-Covid economy of Thailand would face five challenges.

First, the government would have few remaining fiscal mechanisms to help the economy because the public debt ratio has risen from 40 per cent to 58 per cent of GDP.

Since the government plans a deficit budget for fiscal 2023, the public debt ratio may rise to 67 per cent in 2026. He said the government should try to bring the public debt down to the 60 per cent level after the country’s economy has revived.

Porametee said the government’s main challenge is to earn more revenue and manage the restricted budget. The increase of the policy rate would have to be at the right time.

Second, the country’s economic inequality would widen and there could be more social conflicts. Porametee explained that the Covid-19 crisis has severely affected low-income people and SMEs, causing household debt to rise as well, severely affecting vulnerable groups. As a result, the economic disparity is likely to widen and become a cause for more social division.

Third, the quality of human resources has become lower. Porametee said the Covid-19 crisis had forced students to miss onsite classes for two years, thus affecting their skills and knowledge. He added that new graduates also find it harder to get jobs thus affecting their employment in the long run.

Fourth, the Thai economic growth is still lower than stable level. He said it would take years before foreign tourists would return to the pre-Covid level of 40 million a year.

He added that the growth of the manufacturing sector was also lower than what it should be.

The fifth challenge was a good point of the Covid crisis because it prompted the country to adopt new technologies faster.

The BOT chairman added that from now on, Thailand would face the issue of an ageing society and the government would also be required to implement the Zero Carbon policy to stay competitive.

Regarding the “New Chapter of Thai Economy”, Porametee said he would like to see more human security in Thai society and he would like the government to reallocate budget for new economies rather than focus on old economies.

Published : May 26, 2022

By : THE NATION

Saudi Arabian teams to visit Thailand for trade, investment discussions

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Saudi Arabian delegations from both the public and private sectors are scheduled to visit Thailand from July 4-7 to discuss trade and investment between the two kingdoms, Board of Trade of Thailand chairman Sanan Angubolkul said on Thursday.

Saudi Arabian teams to visit Thailand for trade, investment discussions

“This is a good opportunity to build mutual confidence in trade and investment. Thailand has the potential to become a hub in Asean for Saudi Arabian trade and investment,” Sanan said.

“The Board of Trade is confident that Thailand is well prepared to serve as Asean’s hub after recent roadshows,” he added.

The executive was referring to visits to Saudi Arabia by Thai delegations from the Board of Investment, the Eastern Economic Corridor and the private sector.

Sanan himself led a business delegation to Saudi Arabia for the first time in 32 years from May 15-18, in order to restore trade and investment.

After three decades of sour ties, Thailand and Saudi Arabia in January agreed to normalise diplomatic relations when Prime Minister Prayut Chan-o-cha paid an official visit to the Gulf nation and met with Crown Prince Mohammad bin Salman Al Saud.

Saudi Arabian teams to visit Thailand for trade, investment discussions

Sanan said on Thursday that trade between both countries is estimated to reach tens of billions of baht this year.

He was speaking after attending a meeting of representatives from 38 companies who participated in the recent trip to Saudi Arabia. The meeting discussed the progress in negotiations with their Saudi counterparts, as well as business matching.

Sanan said Saudi Arabians appeared to be most interested in tourism and wellness, asking to learn about business management from the Thai side.

During last week’s roadshow, the Thai delegation introduced more selections of Thai-made food products to Saudi Arabian firms, in addition to their normal imports, according to Sanan.

He added, however, that the Thai government should ask Saudi Arabia to relax its import restrictions on certain food products, which he did not name.

“In addition to human food, the Saudis are also interested in animal food, as they have a lot of cats there,” Sanan said.

He also made it clear that Thai labour is in demand in Saudi Arabia, with that country seeking hospital executives, doctors, nurses, construction workers and automotive staff.

Published : May 26, 2022

Prayut invites Japanese businesses to invest in EEC

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https://www.nationthailand.com/business/40015972


Prime Minister Prayut Chan-o-cha invited Japanese businesses on Thursday to invest in the Eastern Economic Corridor.

Prayut invites Japanese businesses to invest in EEC

Prayut extended the invitation during a speech at the 27th International Conference on the Future of Asia (Nikkei Forum) in Tokyo at 1pm local time.

He told Japanese investors he believes Japan is a true friend of Thailand.

Prayut said Japanese Prime Minister Fumio Kishida’s visit to Thaiand and Asean early this month sent a positive signal for the region. The visit also marked the 135th anniversary of Thai-Japanese relations.

Japan is the second most important trading partner of Thailand and the two countries have been sharing strong economic ties since the signing of the Japan-Thailand Economic Partnership Agreement, Prayut noted.

He cited the bilateral trade value of US$60 billion (THB2.05 trillion) last year to prove that ties were strong.

Prayut also thanked the Japanese government and businessmen for believing in Thailand’s potential and for supporting the country’s economic and social development.

He expressed hope that Japan would attend the Asia-Pacific Economic Cooperation summit to be hosted by Thailand in November.

In his speech, Prayut also expressed confidence that Japan and other Asian nations will cooperate to revive the economy, survive the current crisis and cooperate to create peace and stability in the region.

The premier said Asian nations must support multilateral trade, with the World Trade Organisation serving as the moderator of rules.

He promised that Thailand would develop its business environment to facilitate international trade and investment and support foreign businesses.

Thailand, he said, is now upgrading its airports and developing its telecom networks and digital infrastructure, as well as high-speed Internet connection and cloud storage and smart city technologies.

Prayut said the country’s banking systems have been modernised with capacity to make transactions via apps. Thailand has also linked its digital payment system to those of Singapore, Japan, Cambodia, Malaysia and Indonesia and will expand the system to link other nations, especially Apec members.

Prayut went on to say that Thailand would firmly support multilateral trade, especially the idea of the Free Trade Area of the Asia-Pacific (FTAAP).

Prayut pointed out that economic revival must be sustainable and one way to see this is to use clean energy. He invited Japanese investors to join Thailand’s mission in achieving its goal of becoming carbon neutral by 2050.

Prayut added that Thailand has now started its transition to clean energy by supporting and boosting the electric vehicle industry.

Published : May 26, 2022

By : THE NATION