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https://www.nationthailand.com/business/40012794

A total of 39.76 million Thais have registered for economic stimulus schemes in 2022, spending around 45 billion baht, according to the Finance Ministry.

The government has launched additional phases for three Covid-hardship subsidy schemes this year, the ministry’s Fiscal Policy Office (FPO) director Pornchai Teerawet said.

Phase four of the project to boost the purchasing power of state welfare cardholders has drawn 12.94 million users who have spent Bt2.58 billion.

Phase two of the project for vulnerable people requiring special assistance has attracted 1.13 million users and spending of Bt224.25 million.

Meanwhile phase four of the “Khon La Khrueng” (Let’s Go Halves) scheme has drawn 25.69 million users spending a total of Bt42.588 billion – 25.02 million old users (Bt41.974 billion) and 671,000 new users (Bt613.8 million).

Meanwhile, around 23,800 new vendors joined Khon La Khrueng, taking the total to 1.35 million.

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Data for the co-payment scheme this year shows Bt17.395 billion was spent at food and drink stores, Bt7.468 billion at Blue Flag stores, Bt1.910 billion at OTOP stores, Bt14.997 billion at general stores, Bt741.4 million for services, and Bt75.2 million for public transport.

Notable was the whopping Bt1.203 billion spent on food delivery platforms, with around 91,600 food outlets joining the scheme.

Registrants can spend under these schemes until April 30.

Meanwhile, 2.9 million original registrants for Khon La Khrueng were reminded to start using the scheme before 10.59pm on February 28 or they will lose their rights under the fourth phase.

Published : February 26, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40012791

The Finance Ministry is launching measures to counter disruption to Thailand’s Bt3-billion trade with Russia and Ukraine caused by the outbreak of conflict between the two neighbouring countries.

The ministry’s Fiscal Policy Office has been tasked with analysing the situation, predicting impacts for the Thai and global economies, and drafting response measures, finance permanent secretary Krisada Chinavicharana said on Friday.

Thailand is reliant on imports of Russian fuel, aerospace parts and tourists.

“The conflict may result in higher prices for products and fuel, rising inflation and fluctuation in the currency exchange rate. These are the aspects that the measures to be issued by Fiscal Policy Office will need to cover,” Krisada said.

Bilateral trade between Thailand and Russia rose 12.84 per cent to US$2.78 billion last year, according to the Commerce Ministry. Thai exports to Russia accounted for $1.03 billion, while imports stood at $1.75 billion.

Thailand’s trade with Ukraine, meanwhile, rose 5.56 per cent to $386.47 million in 2021. Thai exports to Ukraine were worth $134.76 million and imports $251.71 million.

Krisada said Thailand would also examine the long-term impact on Thai tourism, as the conflict could hit overseas travel by Russians and Europeans, who are core target groups for Thailand.

The Thai tourism industry might have to switch focus to other markets if the conflict drags on, he added.

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Published : February 26, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40012767

The Commerce Ministry is closely monitoring the Russia-Ukraine conflict to ensure it has a minimal impact on Thai exporters, an adviser to the commerce minister said on Friday.

Mallika Boonmeetrakul Mahasuk said Commerce Minister Jurin Laksanawisit has instructed his ministry to keep a close eye on the situation and prepare a contingency plan to help exporters to the two countries.

She added that the Department of International Trade Promotion (DITP) is also watching to see how the situation will affect logistics in the two countries and will provide updates via both online and offline channels.

Both Russia and Ukraine are big export markets for Thailand.

The DITP will also compile a list of logistics companies that specialise in Russia and the Commonwealth of Independent States, so exporters can use their services if the situation has an impact on their exports.

Mallika said the DITP office in Moscow is keeping an eye on the situation and will provide regular updates.

Bilateral trade between Thailand and Russia in 2021 was valued at US$2.78 billion, marking a 12.84 per cent increase compared to the previous year. Thailand’s exports to Russia accounted for $1.03 billion, while imports stood at $1.75 billion.

Trade between Thailand and Ukraine, meanwhile, stood at $386.47 million in 2021, marking a growth of 25.56 per cent compared to the previous year. Thailand’s exports to Ukraine were worth $134.76 million and imports $251.71 million.

Published : February 25, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40012760

The Bank of Thailand is expected to raise its 2022 inflation forecast from 1.7 per cent to between 2 and 3 per cent, a senior official said.

Sakkapop Panyanukul, BOT’s director of Economics and Policy, said the raise was due to drastic changes in the economic situation. He cited the 20 per cent increase in global oil prices plus the rising cost of pork.

“As a result, the BOT estimates inflation may rise above 2 per cent,” Sakkapop said.

He added that it could exceed 3 per cent during the first half of 2022 but inflation would remain within that target for the year overall.

January’s inflation rose to 3.2 per cent due to price increases for oil and pork, he added.

The price of oil has since risen further following Russia’s invasion of Ukraine and retaliatory measures taken by many countries.

On the economy, the BOT expects Thai GDP to exceed its initial projection of 3.4 per cent in 2022, Sakkapop said.

He added that the bank would wait for March’s economic figures before revising its GDP projection.

At the current rate of expansion, Thailand would return to pre-Covid-19 levels of growth by early 2023 or late this year, he said. However, that recovery would be slower in certain industries, including textiles-clothing and hospitality, which are short of around one million workers following the Covid-19 crisis, Sakkapop said.

However, the economy was on an upwards trajectory after rebounding from 6.1 per cent contraction in 2020 to 1.6 per cent growth in 2021, he added.

He said that 2021’s growth was driven by exports expanding by 125 per cent.

But Thailand’s economy would take a year longer to recover than many others due to its high dependence on tourism, which constitutes up to 12 per cent of the country’s GDP, Sakkapop explained.

He said the BOT is helping businesses by keeping its policy rate at a historic low of 0.50 per cent and by encouraging banks to restructure firms’ debts.

He said the debt restructuring policy saw commercial bank loans grow by 6.5 per cent but non-performing loans stay low at 3 per cent.

Published : February 25, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/pr-news/business/40012755

The Stock Exchange of Thailand (SET) opens a bridge between the social and business sectors with “Social Business Matching Day: The Impact Opportunity #1” on Friday.

The event allows social enterprises (SEs) to present their business plans for tackling issues to SET-listed companies, tapping their resources and experience. It runs at Neramitkaset Park in Bangkok’s Lat Phrao district.

SET president Pakorn Peetathawatchai said the SET Social Impact Platform is linking the two sectors to solve social and environmental problems.

He said the Social Business Matching Day would “magnify social impacts exponentially by expanding the Business Co-Creation network of business sector and SEs”.

The initiative is part of the bourse’s push for sustainable development, prioritising ESG – environmental, social and governance (ESG) management, the SET said.

Listed companies and business sectors are now embracing ESG practice across supply chains and deepening collaboration with the social sector in environmental and social stewardship, it added.

The SET said social entrepreneurs are next-generation businesspeople who seek sustainable solutions for society via business mechanisms.

Social entrepreneurs at the growth stage will present their plans for solving problems and developing society to interested business organisations, including listed companies, educational institutions and others.

The growth-stage entrepreneurs can create concrete social benefits in the areas of agricultural development, the environment and innovative services for elderly people, the SET said.

The fair is expected to result in business matches for least 30 per cent of participants.

Follow the projects that support social enterprises at www.setsocialimpact.com.

Published : February 25, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40012743

The Stock Exchange of Thailand (SET) Index is expected to rebound to between 1,675 and 1,680 points on Friday as regional stock markets recover from sharp falls on Thursday, Krungsri Securities said.

It added that the 7-per-cent growth in US fourth-quarter GDP last year would help boost the index.

“However, uncertainty over Russia-Ukraine tensions after the Russia invaded Ukraine, as well as rising Covid-19 cases in Thailand, would pressure the index,” Krungsri Securities said.

It recommends the purchase of the following as an investment strategy:

• KBANK, BBL, TTB, KTB, SCB and BLA will benefit from news of the US interest rate hike.

• PTTEP, TOP, SPRC and BCP will benefit from the rising price of oil and gross refining margin.

• BDMS, INTUCH, ADVANC and HTC, which are defensive stocks that offer stability.

The SET Index closed at 1,662.75 on Thursday, down 33.73 points or 1.92 per cent. Transactions totalled 126.55 billion baht.

Published : February 25, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40012742

The baht opened at 32.48 to the US dollar on Friday, strengthening from Thursday’s close of 32.60.

Krungthai Bank forecast the Thai currency would move between 32.35 and 32.65 during the day.

The baht was likely to fluctuate in a wide range due to the Russia-Ukraine crisis and the Omicron situation, it said, adding that investors are also waiting to buy gold when the price goes down.

However, the bank advised investors to monitor the effect on foreign inflows of a heightened risk-on state in the US.

It added that foreign investors are poised to speculate on the baht if it nears a key resistance level in the short term. The key resistance level will be 32.80-32.90.

The bank said large-scale selling of assets is causing the currency market to fluctuate and return to a risk-off state.

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Published : February 25, 2022

By : THE NATION