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https://www.nationthailand.com/blogs/business/40011847

The pharmaceutical industry is expected to see 3-5 per cent growth in 2022, with 233 billion to 238 billion baht revenue, despite the Covid-19 situation, Kasikorn Research Centre has forecast.

The centre also expects an improvement in the Covid situation consequently reducing the need for Covid drugs.

Thai patients who need to be treated for common diseases and some foreign patients will gradually return to use more medical services in Thailand. In addition, the number of non-communicable disease cases is expected to increase after Thailand fully enters an ageing society this year, the centre said.

The centre sees the domestic drug market revenue performing better in 2022. After expanding 2.5 per cent in 2021, drug revenue is expected to grow by 3-5 per cent, to 233 billion to 238 billion baht.

The forecast is based on the assumption that there is no severe outbreak of new contagious variants, or a new large cluster.

Most of the drug distribution channels in the country are through government hospitals, 60 per cent through universal health insurance and the country’s main medical expenses benefits, followed by 25 per cent private hospitals and 15 per cent pharmacies. The centre expects distribution through government hospitals to increase due to the elderly group who will rely mainly on government medical welfare.

However, the growth of the domestic drug market is likely to be an opportunity mainly for drug manufacturers/importers from abroad because more than 70 per cent of the drug market value is imported from abroad.

Published : February 02, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40011838

The Bank of Thailand (BOT) has come out with a consultation paper to guide the country into the digital world.

BOT will open for discussion the structure of service fees. It will discuss and summarise the structure with related organisations this year to set fees for cash or cheque transactions.

The objective is to reduce the amount of money and cut down the number of paper cheques to less than 50 per cent of current usage within five years for Thailand to become a cashless society.

For the country to become a cashless society quickly, BOT must accelerate the process to reduce money transactions because every transaction with cash has a cost.

The fees will be an important determinant, indicator and stimulus for citizens to use less cash, the bank said.

The BOT-organised discussion, to be held until the end of February, will see if citizens agree with the change or not.

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Published : February 02, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40011835

Cross-border trade in 2021 expanded 30 per cent compared to the previous year, the Commerce Ministry reported on Wednesday, while setting a target of 5-7 per cent growth for 2022.

“The total trade of 1.71 trillion baht in 2021 represented a rise of 30.03 per cent, with exports rising 34.6 per cent to 1.03 trillion baht and imports up by 23.7 per cent to 684 billion baht,” said Commerce Minister Jurin Laksanawisit.

“The cross-border trade in 2021 has overwhelmingly exceeded the ministry’s target of 6 per cent expansion by five times,” he pointed out.

“This year we estimate the trade volume will continue to grow within the range of 5 to 7 per cent year on year. Exports are expected to amount to 1.08 trillion to 1.1 trillion baht,” Jurin said.

He said the factors that would contribute to an expansion in cross-border trade in 2022 include the continued recovery of global and regional economies from the impact of Covid-19, the weakening baht that would increase product price competitiveness, and the use of the newly opened China-Laos railway that would greatly help in transportation of farm products from Thailand to Vientiane and Chongqing – two of the biggest markets for agricultural products.

“To further facilitate cross-border trade, the ministry will continue to work with government agencies and the private sector, both domestic and overseas, to locate potential buyers in new markets,” Jurin said.

“Furthermore, this year we expect to reopen more border checkpoints that had been shut to prevent Covid-19 from spreading.”

Of the 97 checkpoints that Thailand shares with Malaysia, Myanmar, Laos and Cambodia, only 48 are now open for cross-border trade. Jurin said he planned to reopen at least 12 more this year.

“The ministry will continue to closely monitor the two risk factors that could hinder the expansion of cross-border trading: one is the situation now that the more transmissible Omicron is a major variant found in Thailand and neighbouring countries, and the other is the economic/political situation in Myanmar, especially the import control policy that aims to reduce the country’s deficit balance,” Jurin added.

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Published : February 02, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40011829

A move by the Bank of Thailand (BOT), the Securities and Exchange Commission (SEC) and the Finance Ministry to ban the use of cryptocurrencies for purchasing products and services is aimed at preventing negative impacts on financial stability and the economy.

The action comes as digital asset business operators have begun to facilitate retailers and entrepreneurs who are eager to use cryptocurrency to pay for products and services, thereby encouraging the public to use digital assets for payment apart from investment.

However, this places people at risk of price volatility and hence monetary loss, cyberattacks, personal information leakage or being used as tools for money laundering.

The ministry, BOT and the SEC said they would launch guidelines related to digital assets based on the country’s financial system and customers’ interests.

BOT Governor Sethaput Suthiwartnarueput said clear and appropriate guidelines related to digital assets are necessary to ensure that innovations benefit people.

SEC secretary-general Ruenvadee Suwanmongkol said the commission had launched hearings on regulations governing the use of digital assets for product and service payment.

Cryptocurrency is one of the digital assets on blockchain that was made for trading goods, services and other assets. Unlike fiat currencies, the price of cryptocurrencies can fluctuate depending on market mechanisms and trading demand.

Most central banks have not accepted cryptocurrency for debt payment under laws, except in El Salvador.

However, many types of cryptocurrency, such as Bitcoin and Ethereum, are popular among people who believe this form of currency will play an increasingly important role in finance and investment.

Published : February 02, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40011827

The baht opened at 33.18 to the US dollar on Wednesday, strengthening from Tuesday’s closing rate of 33.22.

The Thai currency is likely to move between 33.10 and 33.25 during the day, Krungthai Bank market strategist Poon Panichpibool said.

Poon put the fluctuation down to current market sentiments. He said if the market is in a risk-on state, then interest in the dollar would fall and the baht would strengthen.

However, there are some risk factors, such as the Russia-Ukraine situation. This might put the market in a risk-off state, which will cause the dollar to advance.

Poon said the baht found support after the gold price went up and reached its key resistance level.

Poon expected the Thai currency to swing sideways and not strengthen much because basic economic factors are not yet in positive territory. However, he said, things may improve now that the government has reopened the country.

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The support level for the Thai currency will be at 33.10 – a level importers are waiting for so they can purchase dollars. Meanwhile, the baht’s resistance level will be from 33.40 to 33.50 – a level eyed by exporters so they can offload their dollars, he added.

Published : February 02, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40011819

The Stock Exchange of Thailand (SET) Index is expected to rise to the resistance level between 1,668 and 1,675 points on Wednesday in line with rebounding regional stock indices, Krungsri Securities said.

It said the index gained from rising oil prices and mass buy-ups of company shares that were expected to grow based on business turnover last year.

“However, the index would be under pressure due to uncertainty over the US Federal Reserve’s signal that it would raise the interest rate to tackle inflation, and a mass share sell-off in response to signs of overbought stocks,” Krungsri Securities said.

It advised investors to follow the Opec+ meeting on Wednesday as the bloc was expected to raise oil production by 400,000 barrels per day.

It recommended the purchase of the following company’s shares as an investment strategy:

• BBL, KBank, KTB and BLA, which will benefit from news of a US interest rate hike.

• PTTEP, Top, PTTGC, IVL and SPRC, which would gain from the rising price of oil and the gross refining margin.

• AOT, Mint, Centel, ERW and AAV, which would benefit from the relaunch of the Test & Go scheme and the fourth phase of the “Rao Tiew Duay Kan” (We Travel Together) travel subsidy.

The SET Index closed at 1,661.75 on Tuesday, up 12.94 points or 0.78 per cent. Transactions totalled 59.43 billion baht with an index high of 1,663.76 and a low of 1,658.26.

Published : February 02, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40011818

The fourth phase of the co-shopping subsidy campaign “Khon La Khrueng” (Let’s Go Halves), which kicked off on Tuesday at 6am, saw spending of more than 500 million baht, Finance Minister Arkhom Termpittayapaisith said on Wednesday.

“More than 2.4 million people exercised their rights on the first day of Let’s Go Halves phase 4 thanks to the Chinese New Year festival, while total registrants under phase 4 have been recorded at 16.93 million people,” he said.

“On the first day we saw total spending of 501.24 million baht, 253.43 million of which was spent by registrants and 247.81 million by the government.”

Under the campaign, the government covers 50 per cent of bills for food, drinks and basic necessities of up to 150 baht per day when registrants pay via the Pao Tang application at shops participating in the scheme.

The fourth phase caps a total subsidy at 1,200 baht per person.

Arkhom said shops and restaurants have reportedly seen increasing customers again one month since the third phase ended last year. “However, there are some shops that had registered in previous phases but decided not to join this latest 4th phase,” he said.

“The reason behind this is mostly because the campaign will track their incomes, and businesses that have earned more than 1.8 million baht annually will be taxed.”

The Finance Ministry’s Fiscal Policy Office reported on Tuesday that as of February 1, the three campaigns that the ministry had launched this year to stimulate the economy and promote domestic consumption have generated total spending of more than 1.13 billion baht by 5.44 million users.

The two other campaigns grant funds via the Pao Tang application to holders of state welfare cards and people in vulnerable groups who can make purchases at participating shops.

Precisely 2.89 million state welfare card holders have spent 573.54 million baht, while 147,000 people in vulnerable groups have spent 57.66 million baht.

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Published : February 02, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40011802

Linking international streaming services like Netflix, WeTV, iQiyi and VIU with the Thai film industry has earned the country more than 815 million baht, the Department of International Trade Promotion (DITP) said on Tuesday.

This link-up is part of Commerce Minister Jurin Laksanawisit’s policy to promote Thai digital content internationally, DITP deputy director Ekachat Seetavorarat said on Tuesday.

DITP led a discussion on January 27 with representatives of international streaming services and 15 Thai content creators to further strengthen the tie-up.

“Apart from introducing local digital content creators to the international market, this project will also help boost the development of other industries like food, tourism and culture,” he said.

He added that Thai TV series, films and animation have caught the attention of international streaming agencies, and “this proves that our digital content industry has the potential to expand further”.

However, he said, the most important factor at this point is to make locally produced digital content more internationally acceptable and change local consumer behaviour so more digital content is consumed.

Ekachat added that the Commerce Ministry is providing the industry additional support by expanding opportunities both locally and overseas via exhibitions and seminars to promote knowledge exchange and create a network among creators.

Meanwhile, Worarit Ninklom, CEO of 9Naa Production, said this project encouraged Thai digital content creators to upgrade their products to international standards.

Wanchalerm Chootragool, CEO of Art Combo Studio, concurred saying this project gave local content creators a chance to have their creations consumed internationally via global streaming.

Published : February 01, 2022

By : THE NATION