The Stock Exchange of Thailand (SET) Index is expected to fall to the support level of 1,700 to 1,705 points on Monday due to tensions between Russia and Ukraine, Krungsri Securities said.
It added that uncertainty over the US Federal Reserve signalling it would raise the interest rate in March, plus rising Covid-19 cases in Thailand, would pressure the index.
“However, mass buy-ups of company shares that are expected to rise in value based on their business turnover last year will help boost the index,” Krungsri Securities said.
It recommends purchasing the following as an investment strategy:
• PSL and TTA will benefit from rising freight rate.
• BBL, KBANK, KTB, SCB, TTB, BLA and THREL will benefit from news of the US interest rate hike.
• IVL, SPRC, BANPU, TU, CPF, ORI, WHA, AMATA, HMPRO, CPN, CRC, BLA, NER, ITEL, XO, UBE, FORTH, TH, SNNP and ONEE that are expected to grow based on their business turnover last year.
The SET Index closed at 1,713.20 on Friday, up 1.62 points or 0.09 per cent. Transactions totalled 95.61 billion baht with an index high of 1,716.14 and a low of 1,703.60.
Gulf’s total revenue for 2021 was 52.87 billion baht, an increase of 48 per cent year on year, with a core profit of 8.81 billion, a 97 per cent jump from 2020.
Gulf Energy Development Plc has reported a 120 per cent jump in its core profit in the last quarter of 2021. The profit of 2.72 billion baht was an increase of 1.48 billion baht, or 120 per cent, year on year. The growth mainly came from the commercial operations of Gulf SRC’s two power generation units and a profit of 1.09 billion from the company’s shareholding in Intouch Holdings Plc (INTUCH). In the fourth quarter of last year, Gulf recorded a net profit of 3.04 billion baht, a 65 per cent increase from 1.84 billion in the same period last year. Gulf’s total revenue for 2021 was 52.87 billion baht, an increase of 48 per cent year on year, with a core profit of 8.81 billion, a 97 per cent jump from 2020.
The company attributed the hike in its core profit to the dividend income of 2.34 billion baht from INTUCH plus a profit share of 1.09 billion baht, as well as the commercial operation of its new power plants last year, including a gas-fired power plant in Oman and an offshore wind power project in Germany. Gulf sells 86 per cent of its electricity to the Electricity Generating Authority of Thailand (Egat), while industrial customers account for only 14 per cent of its electricity sales. In 2021, Gulf recorded net profit attributable to the parent company, with the impact from foreign-exchange rate taken into account, totalling 7.67 billion, an increase of 79 per cent from a year earlier.
At the end of 2021, Gulf had a net interest-bearing debt-to-equity ratio of 1.77 times, an increase from 1.47 times at the end of 2020. This was due to the drawdown of loans from financial institutions for the construction of two IPP power plant projects, GSRC and Gulf PD (GPD), with a total installed power generation capacity of 5,300 megawatts.
The company also issued debentures of 30 billion baht for partial loan repayment for its acquisition of INTUCH shares. However, the net interest-bearing debt-to-equity ratio is still below the bond covenant level of 3.50 times, providing room for potential investments of more than 100 billion baht, the company said.
Gulf chief financial officer Yupapin Wangviwat revealed that its total revenue for 2022 is expected to grow about 60 per cent from 2021. This was due to the commercial operation of GSRC’s third and fourth units in March and October 2022, with a total installed capacity of 1,325 megawatts, the Mekong Wind offshore wind power project in Vietnam scheduled for operation within the second quarter with an installed capacity of 128MW, and solar rooftop projects under Gulf1 with a total installed capacity of 100MW. All the projects will increase Gulf’s gross installed capacity from 7,875MW in 2021 to 9,422MW in 2022.
Also, the company will this year record a full-year profit from GSRC’s first and second units and its Oman power plant, together with a profit share from its investment in INTUCH. “Gulf recognises the importance of decarbonisation, which is in line with the government’s policy towards clean energy. We will, therefore, emphasise investment in renewable energy business, including hydroelectric power projects in Laos, solar farm projects and wind power projects, both in Thailand and overseas,” Yupapin said. She also said that Gulf has expanded its business into digital infrastructure, with investment in digital transformation, such as data centre business development, cloud computing and blockchain technology businesses. “These technologies substantially impact our daily lives and become more important in economic activities, driving the nation’s society and economy to grow exponentially as well as providing new business opportunities for the company,” the CFO concluded.
Magnolia Quality Development Corporation’s (MQDC) The Forestias project has received as many as 42 global awards, with deposited sales of its residential units topping 17.2 billion baht as of the end of January 2022, the company said in a press release on Thursday.
Magnolia Quality Development Corporation’s (MQDC) The Forestias project has received as many as 42 global awards, with deposited sales of its residential units topping 17.2 billion baht as of the end of January 2022, the company said in a press release on Thursday.
The Forestias is Thailand’s largest private sector property development project valued at approximately 125 billion baht and is located in the booming Eastern Economic Corridor, MQDC said.
It comprises large areas of parkland, residential properties under multiple brands, as well as numerous commercial and community residences with a focus on healthy living and environmental quality, the press statement added.
“We’re humbled by the global recognition accorded our project,” director Kittiphun Ouiyamaphun said.
“We are especially encouraged that new homeowners, as well as international experts from around the world, have found our focus on healthier living and sustainability to be important. This affirms that we have done the right thing in investing heavily in quality materials and resilience.”
The Forestias has also just been presented with three awards at the 15th Edition of the prestigious International Design Awards in recognition of its architectural innovations, including a gold award for Urban Design, a silver award for Sustainable Living and Green design, and a honourable mention for the project’s Forest Pavilion.
The Forestias also received the Outstanding Property Award London, the International Property Award, the International Federation of Landscape Architects award, a Muse Design Award, the Dot Property Award, the Eldercare Innovation Award, and the Asian Property Award, the company said.
Furthermore, the project’s components – such as Mulberry Grove Villa, Mulberry Grove Condominium, Whizdom condominiums, The Aspen Tree, the Six Senses residences, and the Family Center – have been individually awarded for design and other aspects.
One of the most awarded components is the Forest Pavilion located at the heart of the project. It was designed by Foster+Partners and DT Design.
The Forestias has been conceived as “a town where everything is designed to be close to nature and to be a community that allows multiple generations with different lifestyles and needs to live within easy reach of each other”, Kittiphun said.
“Our intention is for The Forestias to be a showcase project for not only what’s possible in terms of design and build, but also hope to show that there is real demand for a new generation of residences from new home buyers,” he said.
Forty per cent of all residential units is already sold, Kittiphun added.
The Forestias offers residences from around 5 million baht to 250 million baht and beyond. They are expected to be completed by 2024.
Bangchak Group recorded 199.417 billion baht revenue from sales and services in 2021, backed by a big jump in revenue in the fourth quarter.
Bangchak Group recorded 199.417 billion baht revenue from sales and services in 2021, backed by a big jump in revenue in the fourth quarter.
Earnings before Interest, tax, depreciation and amortisation (EBITDA) amounted to 25.818 billion baht, with net profit attributable to owners of the parent company at 7.624 billion baht, or 5.25 baht earnings per share, representing a record high.
The group benefited from upstream business investments such as in natural resources in Norway (OKEA), and Business Process Redesign (BPR) to enhance internal procedures and reduce costs, which began in 2010, boosting Bangchak’s EBITDA by more than 1.6 billion baht.
Revenue from sales and services in the fourth quarter of 2021 recorded 66.792 billion baht, increasing by 40 per cent from the previous quarter. The progress in dissemination of Covid-19 vaccines globally resulted in economic recovery, growth in oil demand, and easing of the pandemic in many countries.
The annual performance of each business group was as follows:
Refinery and Oil Trading business earnings increased by 11.532 billion over 2020, mainly from an inventory gain of 5.966 billion baht. Operating gross refining margin (GRM) rose to US$4.52 per barrel in 2021.
Furthermore, the refinery continued to increase its production capacity due to the expansion of Unconverted Oil exports helping to support GRM and mitigate the impact of falling domestic oil demand.
The average daily production capacity was 99,000 barrels or 83 per cent of the total refinery capacity, and used cooking oil production doubled from the year before.
The Marketing Business Group’s performance improved by 20 per cent over 2020, mainly from inventory gains in 2021 from the increase in oil prices, while total sales volume declined by 6 per cent compared to 2020. However, it was able to retain second place in market share through sales volume at service stations.
Green Power Business Group’s performance grew by 15 per cent over 2020, mainly attributable to increased total electricity sales from clean energy power plants at home and abroad.
Bio-Based Product Business Group recognised gains from fair value adjustment of 2021 investments, resulting in performance comparable with 2020, despite the impact of decreased biodiesel sales volume due to Covid-19, the lower B100 blending mandate to control domestic diesel prices, and decreased ethanol demand.
Natural Resources Business Group saw EBITDA in 2021 increase by 9.254 billion baht over 2020, mainly attributable to the change in 2021 of OKEA’s investment status from an associate company to a subsidiary, changing the accounting from share of profit (loss) to a consolidated method starting July 1, 2021.
In the third quarter, it recorded a gain from sale of investment in BCPE (net of exchange rate) of 120 million baht. As a result, the Natural Resources Business Group realised a significant EBITDA increase, mainly attributable to the rise in the average price of oil and natural gas, especially natural gas, which increased 464 per cent from 2020.
Following high European winter demand, the easing of lockdown measures, and low European gas reserves, OKEA achieved record-high revenue from the sales of oil and gas. OKEA contributed 16 per cent to the Group’s revenue increase. Moreover, OKEA’s EBITDA constituted 30 per cent of the group’s overall EBITDA.
As for the fourth quarter, the easing Covid-19 situation has resulted in recovery of economic activity and domestic travel. The Group recorded an EBITDA of 9.281 billion baht, increasing 23 per cent over the previous quarter, with net profit attributable to owners of the parent at 1.756 billion baht, decreasing 4 per cent over the previous quarter, equivalent to 1.20 baht earnings per share.
The recovery of previously declining oil demand resulted in retail sales in December 2021 achieving a record high of 432 million litres per month, the first time that retail sales volume exceeded refinery capacity.
Furthermore, the Marketing Business Group continued to promote lubricant sales, increasing its domestic market share to 9.9 per cent, while the Inthanin Coffee business also recorded a new high for cups sold in December.
President and CEO Chaiwat Kovavisarach stated that in addition to conducive market factors that support revenue growth, the ability to adapt and accelerate managerial efficiency is critical to reducing costs and increasing profits.
The business direction in 2022 is to proceed with business expansion, emphasising investment in green innovation to reduce greenhouse gas (GHG) emissions, to achieve the goal of carbon neutrality by 2030 and net zero GHG emissions by 2050.
This year, Bangchak has been included in the “Silver Class” of the Sustainability Yearbook 2022, ranked top 3 globally, from the assessment by S&P Global, reaffirming the commitment to a sustainable innovative business in harmony with the environment and society.
BBGI Pcl has a strategy to spearhead high-value bio-based products, preparing to raise funds in the Stock Exchange of Thailand by issuing an initial public offering on March 17.
The board of directors approved the payment of dividends in the second half of 2021 on Thursday at one baht per share, following up on the interim dividend of one baht per share in the first half. Full year dividend for 2021 totalled 2 baht per share, amounting to 2.715 billion baht.
The date for confirming shareholders who are entitled to receive this dividend will be March 3, and the dividend will be paid on April 22.
Pay Solutions will seek approval from the Bank of Thailand (BOT) to become the first online payment service provider that legally uses a cryptocurrency to pay for goods and services, its CEO said.
Pay Solutions CEO Pawoot Pongvitayapanu said his firm would seek approval to use a Stablecoin type as a means of payment for goods and services once the BOT issues regulations for using digital currencies as payment means.
The BOT currently prohibits the use of cryptocurrencies as a means of payment for goods and services for fear that their lack of stability would affect the country’s economy.
The BOT is now working with the Securities Exchange Commission (SEC) and the Finance Ministry on regulations for using a type of stable digital assets, such as Stablecoins, as a means of payment. Stablecoins are digital currencies designed to be less volatile than cryptocurrencies by pegging their market value to an outside asset, such as the baht.
Pawoot said the BOT would allow only digital currencies that would not cause risks to the entire economic system to be used as a means of payment, and he is confident that a Stablecoin type would be safe because it will be backed with the baht.
“So, Pay Solutions aims at becoming the first one to legally provide online payment system using a digital currency,” Prawoot said.
He said Pay Solutions would carry out a test using a Stablecoin type for payment in a closed ecosystem as a pilot project.
He said his firm is drafting details of the experiment of using a Stablecoin type to be sent to the BOT for approval.
In the initial phase, the company would use around Bt10 million to back a Stablecoin type and it would be used among companies in his group for making online purchases or for collecting reward points for goods deliveries from SHIPPOP.com, for example.
The experiment would come with regulations to safeguard the use. Users can pay Stablecoin from their e-Wallet registered with Metamask and the payment would be made via the blockchain system Binance Smart Chain (BSC), which is widely used globally.
The operation plan will be ready for sending to the BOT for consideration within one month, he added.
Napongthawat Photikit, director of the Payment Systems Policy Division of the BOT, said the central bank is now considering whether to allow the use of digital assets, which will not cause risks to the system, as a payment means. He said Stablecoin is considered a non-risk digital currency because it is pegged with real currency value.
He said the SEC is now in the process of compiling opinions on the issue after it held a public hearing on February 8 on the use of cryptocurrencies as a means of payment.
The merger deal between True Corporation (True) and Total Access Communication (DTAC) must be transparent, while the telecom watchdog must listen to consumers, the Thailand Consumers Council (TCC) said on Friday.
Saree Ongsomwang, the council’s secretary-general, said they disagreed with the deal struck last year as it will reduce consumers’ alternatives and increase costs for them.
Citing a study in Britain, she said consumers will have to bear a 20 per cent rise in expenses due to the reduction in mobile operators from four to three.
She pointed out that the number of large mobile operators in Thailand will decrease to two operators if the merger deal is allowed: the new entity and Advanced Info Services (AIS).
“Hence, the council has urged the watchdog – the National Broadcasting and Telecommunication Commission (NBTC) – and related agencies to act on this deal carefully,” she said.
Thailand Development Research Institute (TDRI) president Dr Somkiat Tangkitvanich said the merger deal would result in two scenarios: boost mobile companies’ potential in various aspects, such as cost management and innovation, or cause market domination.
He explained that agencies responsible for telecommunication in many countries usually revoke a merger deal if other mobile operators oppose it.
“However, no one has opposed the True-DTAC merger deal as AIS’ share price has risen in response to the merger news,” he said.
Somkiat said the True-DTAC merger deal will benefit the three large mobile operators, adding that this move also affects startups and innovators as they have to bear the rise in production costs.
“Meanwhile, during the transition to the digital economy, Thailand will face market domination both domestic and overseas, resulting in difficulties in competition,” he said.
He also had three advices for the NBTC regarding the True-DTAC merger deal:
– Revoke the deal and reduce the infrastructure cost. If DTAC wants to quit the Thailand market, it should sell the company to other entrepreneurs, other than True and AIS.
– Allow the merger, but the NBTC must allocate spectrum licences to cover new entrepreneurs.
– Allow the merger, but it must come with promotion of new competitors.
Sarunee Achawanantakul, an independent academic in economics, said the NBTC should take action on this merger deal.
She pointed out that True and DTAC may have shared their secret information which could lead to unfairness in competition.
However, NBTC commissioner Dr Prawit Leesatapornwongsa said the watchdog has to consider various aspects of the merger deal, both short term and long term, based on benefits to consumers, such as impact on market, the number of competitors, infrastructure management and secret benefits between two mobile operators.
He said the NBTC also has to conduct a parallel study, such as setting up advisers or committees consisting of independent experts to consider this issue.
“In case the deal is revoked, the consideration must cover how to reduce entrepreneurs’ infrastructure cost and how to promote new competitors,” he said.
He explained that merger deals in many countries resulted in allowing two mobile operators to merge, while some countries attached conditions, or revoked the deal.
He added that the matter would be considered by the newly appointed NBTC members. The names of the new members are expected to be announced within two weeks.
Zipmex, Southeast Asia’s fastest-growing digital assets platform, is bringing further innovations to the crypto space with its announcement of Zixel by Zipmex,
Zipmex, Southeast Asia’s fastest-growing digital assets platform, is bringing further innovations to the crypto space with its announcement of Zixel by Zipmex, a curated NFT platform focused on making available the new world of digital collectibles to crypto users, superfans, and digitally-savvy consumers across Southeast Asia with NFTs that serve to bridge digital and physical experiences.
To celebrate the launch of Zixel by Zipmex, Zipmex Group is hosting Southeast Asia’s first-ever Metaverse exhibition, “The Metaworld by Zixel” at Siam Paragon from 17th February to 20th March, 2022. The exhibition invites the public to interact with NFTs and immerse themselves into the Metaverse through a variety of experiences. As visitors enter the space they are met with a rotational NFT gallery exhibiting a variety of NFTs from partners, a projection mapping zone and Metaverse Game Stations where visitors can explore Decentraland and Brandverse, a globally recognised Metaverse and a Thai-owned platform. The highlight of the exhibition is the NFT Factory created in collaboration with the creators of Thailand’s first virtual influencer, Bangkok Naughty Boo where visitors can create their own virtual avatar, record their movements through motion capture technology and have their avatar displayed in the exhibition in real-time. What’s more is visitors are able to transform their avatar into an NFT and collect their creation, creating new opportunities for first-time NFT collectors.
“One of the biggest buzzwords of 2021 was “NFTs” and “Metaverse”. However, there is still a gap between everyday users and these new phenomenons. At Zipmex, we aim to provide clarity and seek to make available these new innovations. That is why we have made the Metaverse come to life by building Southeast Asia’s first metaverse exhibition where guests can fully immerse themselves. Through a physical format, this highly interactive exhibition has been specifically designed to cultivate and engage the public with first-hand experiences of different NFTs, avatars, and the Metaverse, in partnership with some of Thailand’s most iconic brands and creators. ” stated Proud Limpongpan, Chief Marketing Officer of Zipmex Group
The launch of The Metaworld by Zixel comes with a roster of leading artists, musicians, creators and brands across industries to its curated platform including: GMM Grammy, Siam Piwat, Thai Airways, True Group, The Standard, SC Asset, with the vision to collaboratively become the driving force of digital culture in the Southeast Asian NFT space. Through media partnerships, the curated NFT collections will gain mass visibility through partners such as Bangkok Post, and NFT billboard activations with media giant, Plan B.
Panthep Nilasinthop, Chief Customer Officer, Siam Piwat Co., Ltd. said “Siam Piwat is Thailand’s management excellence in property and retail development. We are reinforcing our vision as ‘The Visionary ICON’ to present new experience and be a trend leader in this digital-centric era. The co-creation with Zipmex, the leading digital asset investment and exchange platform amplifies the vision of Siam Piwat and our partners in our Global Ecosystem. The partnership between Siam Piwat and Zipmex highlights the best of both worlds, ‘Creating Shared Values’ for greater success. In addition, two ultimate destinations now merged into one. Siam Paragon is a global retail destination and Zipmex is a hub of NFT and Cryptocurrency education. Our series of co-creation offers experiences that speak to the new generation whose interests and lifestyles now run in parallel to both online and offline world, which is a key trend of the future.”
Zixel by Zipmex will be dropping its first launch series with GMM Grammy’s top music artist, Getsunova with a collection of music-focused NFTs for the launch of the band’s new album, Thailander. Getsunova’s Thailander NFT series is a collection of 2,000 unique stylistically curated NFTs that portray the humor-filled essence of Thai pop-culture. The limited edition collectibles play with sarcasm and parody on iconic everyday objects known to every Thailander. For the first drop, Getsunova invites you to test your luck with Mystery Boxes ranging from Basic, Rare and Super Rare editions.
“The collaboration between GMM Grammy and Zipmex is our shared vision to drive the music NFT market and curate new experiences for fans in different dimensions: to engage, to own and to invest. Our strategy is to combine creativity and innovation in order to elevate the standard of digital music assets in Thailand. The Thailander NFT collection is Getsunova, Thailand’s leading band’s first-ever NFT drop, in which the limited pieces are iconically familiar everyday objects that touch the hearts of every Thailander. We are proud and excited to present Thailand’s first-ever Metaverse concert, and display Getsunova NFTs for our fans to fully immerse and experience.” stated Jipattikal Panikbutr, Executive Vice President, GMM Digital.
Getsunova will also become the first Thai music artist to perform a concert on the metaverse at the Zixel by Zipmex Launch Party event hosted on Decentraland from 18th-22nd February. The metaverse event will feature headline performances by Getsunova and a DJ set by Hong Kong-Shanghai-London based music collective, Yeti Out, with a variety of activities ranging from the Zixel NFT gallery, NFT badge giveaway, Getsunova wearable giveaways and an NFT scavenger hunt. Join the Zixel by Zipmex Launch Party on Decentraland here: https://zipmex.app/ueiUG
About Zipmex Group
Zipmex is Southeast Asia’s fastest growing digital assets platform with a focus on building the foundation of Asia’s financial architecture to empower everyone to experience the digital assets world. The company’s Thai subsidiary has a Digital Assets Exchange license and Brokerage license issued by the Ministry of Finance of Thailand, and is regulated by the Securities and Exchange Commission. The company is also legally compliant in Singapore, Australia and Indonesia.
About Zixel by Zipmex
The digital collectible destination to discover, collect and trade curated NFTs. Zixel by Zipmex is a platform where brands and digital communities connect, and where art and internet culture
PTT approved a dividend payment worth 57.12 billion baht or 2 baht per share on Thursday. The move came after the company recorded a net profit of 108.36 billion baht in 2021, up 70.59 billion baht or over 100 per cent on the 37.76 billion baht in 2020.
Last year’s growth in turnover was due to economic recovery and the company’s success in maintaining operations and investment both domestically and overseas, said PTT president and CEO Auttapol Rerkpiboon.
“In this regard, the company has to send over 82.5 billion baht to the government apart from the corporate social responsibility budget of over 1.64 billion baht,” he said.
He explained that 31 per cent of total net profit in 2021 came from PTT business operations, while the other 69 per cent was from the company’s subsidiaries here and overseas.
He added that as a state enterprise, PTT had launched various schemes to mitigate Covid-19 impacts on people, including an NGV price cap at 15.59 baht per kilo and discounts on LPG for state welfare cardholders.
In the fourth quarter last year alone, PTT’s net profit was 27.54 billion baht, up 3.89 billion or 16.5 per cent compared to a net profit of 23.65 billion baht in the third quarter.
The fourth-quarter net profit rose by 14.39 billion or over 100 per cent compared to a net profit of 13.14 billion baht in the previous year, thanks to the rise in earnings before interest, tax, depreciation, and amortisation (EBITDA).
As of December 31, PTT’s total assets stood at 3.07 trillion baht, up 533.83 billion or 21 per cent compared to 2.54 trillion baht in the previous year.
Meanwhile, the company’s debt was 1.60 trillion baht, up 346.74 billion baht or 27.6 per cent year on year due to a rise in short- and long-term loans of 154.32 billion baht.
Separately, the company’s market capitalisation was 1.47 trillion baht, up 187.09 billion baht (14.6 per cent), thanks to growth in net profit and PTT Oil and Retail Business (OR)’s move to increase capital.
Thailand’s agricultural product exports grew 17 per cent last year despite the Covid-19 pandemic, the Office of Agricultural Economics said.
Chanthanon Wankhajorn, secretary-general of the Office of Agricultural Economics, said exports of Thai agricultural products from January to December last year were valued at Bt1.3 trillion, a 17 per cent increase over exports in 2020.
He said the high value of exports had enabled Thailand to enjoy a trade surplus of Bt813.69 billion in agricultural products trade.
Bilateral trade of agricultural products with other Asean nations increased by 4.86 per cent to Bt422.75 billion.
Chanthanon said Thailand’s exports of agricultural products to Asean countries grew 3.46 per cent, allowing the Kingdom to enjoy a trade surplus of Bt171.35 billion.
Malaysia was the top importer of Thai agricultural products in the region, followed by Vietnam and Cambodia.
The top five Thai agricultural product exports in terms of value were UHT milk and UHT soya milk with the export value of Bt46.64 billion, sugar and products from sugar (Bt38.07 billion), rubber (Bt29.9 billion), edible seasonings (Bt28.43 billion) and food dressings made from cereals, flour and milk (Bt25.09 billion).
Chanthanon added that Thailand also enjoyed export growth of agricultural products through free trade agreements outside Asean. The growth was 33.06 per cent with last year’s value of Bt653.66 billion, allowing Thailand to enjoy a trade surplus of Bt474.19 billion for agricultural product trade.
The markets that saw the highest export growth rates last year were India, China, South Korea, New Zealand, and Japan. The agricultural goods with the highest export growth were palm oil (Bt22.78 billion), tapioca (Bt41.02 billion), rubber (Bt175.97 billion), fresh fruits (Bt135.99 billion), and starch and inulin products (Bt52.8 billion).
“It was a good year for the export of Thai agricultural products, despite the pandemic. It might be partly because consumers and businesses have adapted to the situation,” Chanthanon said.
He said the Agriculture Ministry will make sure that Thailand’s agricultural products will not be contaminated when exported and the country is confident of seeing higher growth this year.
Foreign businesses in Thailand have called on the government to push for digital transformation and economic modernisation this year if it wants to maintain the country’s competitiveness in the global market.
The Joint Foreign Chambers of Commerce in Thailand (JFCCT) led by chairman Stanley Kang made the plea at a meeting with Prime Minister Gen Prayut Chan-o-cha recently, Thai Chamber of Commerce chairman Sanan Angubolkul said on Thursday.
Kang urged the government to maintain tangible and efficient green policies, including the BCG (Bio-Circular-Green) economy and ESG (Environmental, Social, and Governance) principles. He said foreign chambers of commerce were also ready to submit proposals for projects that would benefit Thailand and foreign trade partners both economically and socially.
The JFCCT represents 36 foreign chambers of commerce.
“PM Prayut said during the meeting that the government is focusing on improving the cost of doing business in Thailand among foreign investors and entrepreneurs,” said Sanan. Efficient Covid-19 preventive measures to ensure public safety and recovery of the business sector were also a focus, he added.
The PM said the government was drafting the 13th National Economic and Social Development Plan, which will focus on digital transformation to ensure that Thailand is up to date with global changes and new developments, Sanan said.
PM Prayut also insisted that Thailand would continue to prioritise development of human capital, technology transfer and innovations to add more value to Thai products and services.
Kang thanked the government for providing Covid-19 vaccines to foreigners and for its efforts to facilitate operations of foreign companies during the pandemic.
The Forestias has also just been presented with three awards at the 15th Edition of the prestigious International Design Awards in recognition of its architectural innovations, including a gold award for Urban Design, a silver award for Sustainable Living and Green design, and a honourable mention for the project’s Forest Pavilion.
He said Pay Solutions would carry out a test using a Stablecoin type for payment in a closed ecosystem as a pilot project.
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