#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/thailand/economy/40021360

Thai-Lao business via Nong Khai almost back to normal: local trade office

TUESDAY, OCTOBER 25, 2022

Trade across the Lao border in Nong Khai has almost returned to pre-pandemic levels, the provincial commercial office said on Tuesday.

Citing August figures, Nong Khai’s chief commercial officer Jiraporn Siriprasert said the increase signals economic recovery in the Northeast province.

She said trade in August accounted for 9.01 billion baht in revenue, up 18.90 per cent from July. Of the total, 6.15 billion came from exports, which marked a 10.95 per cent increase from the previous month. The value of imports via Nong Khai’s border checkpoints came in at 2.86 baht, up by 40.55 per cent from July.

Jiraporn said Thailand enjoyed a trade surplus of 3.29 billion baht in August but expects this figure to drop soon, especially since August recorded a 60.25 per cent or 218.94 million baht drop in the surplus compared to July.

The value of border trade in Nong Khai from January to August this year has risen by 20.41 billion baht or 41.99 per cent year on year. Of this, 10.63 billion baht accounted for exports and 9.79 billion baht for imports.

During the 10 months, exports via Nong Khai rose 25.65 per cent and imports by 2.44 per cent compared to the same period last year.

Apart from serving as a channel for bilateral trade, Nong Khai is also used by Laos to import goods from other countries. According to data, Laos’ imports via Nong Khai rose 118.95 per cent in August compared to the previous month.

Laos also used Nong Khai as a channel to export 5.5 billion baht worth of goods to other countries in August, though that was 13.61 per cent less than the previous month, Jiraporn added.

Meanwhile, Thai-Laos border trade via Bueng Kan checkpoint came in at 430.66 million baht in September, marking an increase of 4.87 million baht or 1.14 per cent compared to July. Of this, exports were worth 327.20 million baht, down by 4.06 million baht or 1.23 per cent, and imports worth 103.46 million baht, up by 8.93 million baht or 9.45 per cent, compared to July.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/thailand/economy/40021351

Baht strengthens against dollar on signs of foreign appetite for Thai stocks

TUESDAY, OCTOBER 25, 2022

The baht opened at 38.14 to the US dollar on Tuesday, strengthening from Friday’s close of 38.34.

The currency will likely move between 38.00 and 38.25 against the greenback during the day and between 37.80 and 38.50 during the week, Krungthai market strategist Poon Panichpibool predicted.

Poon said the baht will swing sideways with a key resistance level of 38.50 to the dollar.

Gold prices and foreign transactions in the Thai stock market would govern the baht’s volatility this week, he added.

The analyst said foreign investment started flowing back into Thai stocks following the Stock Exchange of Thailand (SET) index’s rebound last week.

He expects a shift in foreign investment towards Thailand if the index exceeds its resistance level of 1,600 points while the market is in a risk-on state.

However, he warned to watch out for foreign investors selling long-term Thai bonds amid a continuous increase in global bond yields.

For the dollar, he advised monitoring investors’ reactions to big-tech companies’ performance reports, as disappointment would push the currency market back towards a risk-off state and pressure the dollar to strengthen.

This week’s meetings of the European Central Bank and Bank of Japan may also cause fluctuation in the currency market. Poon said the euro and yen may weaken if the banks fail to signal tighter monetary policy.

He advised investors to use hedging tools such as options to manage risks in a highly volatile currency market.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/thailand/economy/40021339

Thai central bank reports strong signs of recovery in 3 regions

MONDAY, OCTOBER 24, 2022

The Bank of Thailand (BOT) has reported strong signs of economic recovery in September, crediting a tourism revival and subsidies to stimulate spending.

Reports from BOT offices in three regions showed the economy is rebounding fast from Covid-19, government spokeswoman Tipanan Sirichana said on Monday.

The northern office reported that a rebound in the tourism sector had boosted purchasing power and employment, mainly thanks to events such as King’s Cup football in Chiang Mai and the advent of the high season.

The report added that subsidies offered by the government had also shored up consumers’ confidence, prompting them to spend more.

The BOT’s northeastern office reported a rise in consumer spending driven by the subsidies, which had aided economic recovery. Employment rates also improved as MICE (Meetings, Incentives, Conferences, Exhibitions) tourism got back on track.

The Thailand Moto Grand Prix in Buri Ram on October 2 also boosted the local economy thanks to spending from domestic and foreign spectators, the report said. However, it added that the Northeast was now facing a labour shortage after workers returned to jobs in Bangkok.

The BOT’s office in the South reported that tourism continued to grow in September, adding momentum to economic recovery via government spending subsidies.

Foreign tourist continued to return in high numbers while more events were held. The high season had also boosted tourism employment in the region.

The report said government travel and accommodation subsidies had prompted an influx of visitors to tourism provinces in the South, also helping to boost economies of nearby provinces.

The government’s “We Travel Together” tourism subsidy pays 40 per cent of accommodation costs and 600 baht per night for food while its Khon La Kruen co-payment scheme offers 150 baht off daily shopping bills. Both have proved popular among Thais seeking relief from financial burdens triggered by the Covid-19 pandemic.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/thailand/economy/40021329

Thai private sector targets Apec summit with 5-pronged strategy

MONDAY, OCTOBER 24, 2022

Thailand’s business leaders said on Monday they will table five issues to boost the Thai economy at the Asia-Pacific Economic Cooperation (Apec) summit in Bangkok next month.

Federation of Thai Industries chairman Kriengkrai Thiennukul said his Apec Business Advisory Council (Abac) will tap opportunities at the summit, especially for Thailand’s small and medium-sized enterprises (SMEs).

The five issues Abac will put to world leaders are regional economic integration; digital infrastructure; sustainable practices of micro-entrepreneurs, small and medium-sized enterprises (MSMEs); sustainability; and finance and economics.

Abac submitted feedback from the Thai private sector to Prime Minister Prayut Chan-o-cha earlier this month, with a focus on handling inflation, food and energy insecurity, climate change and regional economic integration.

Kriengsak said the private sector urged support for MSMEs and digital infrastructure to boost economic recovery and growth.

Meanwhile, Thai Chamber of Commerce chairman Sanan Angubolkul said the summit was Thailand’s big opportunity to connect with the global economy.

The summit would also attract foreign investment, boost tourism and stimulate trade and exports.

“Foreign businesspeople attending the meeting will help generate revenue for Thailand’s economy, aiding recovery,” he said.

The meeting will discuss other issues related to people’s lives, such as public health, the Bio-Circular-Green (BCG) economy model, and global warming, resulting in benefits to the government, private and public sectors, he added.

Sanan pinpointed an urgent need to boost Thailand’s competitiveness by applying digital infrastructure to enhance SMEs’ potential and access to funds.

He added that the creative and knowledgeable new generation would accelerate Thailand’s competitiveness.

He also expected an influx of long-term foreign residents following an easing of visa rules.

“Hence, Thailand should improve investment privileges, tax incentives and rules related to the property sector to facilitate foreign investors,” he said.

“Apart from generating revenue for Thailand, this will also help promote technology exchange and employment.”

He added that Thailand should tap 5G technology and the Eastern Economic Corridor (EEC) to attract more foreign investment.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/thailand/economy/40021318

Thailand’s EEC extends tax breaks to lure high-tech Korean firms

SUNDAY, OCTOBER 23, 2022

The Eastern Economic Corridor Office (EECO) has agreed to extend tax and other investment privileges for South Korean companies.

The move is aimed to attract more Korean investment in the EEC for high-tech businesses, including electric vehicle making and smart city development.

An EECO source said the agency will extend a memorandum of understanding on investment privileges with the Korea Trade-Investment Promotion Agency (Kotra). The MoU had been due to expire soon.

The extended MOU will cover EV manufacturing, and the health product, biological technologies, logistics, and smart cities sectors.

The two agencies will hold an online meeting to discuss details of the extension, the source added.

South Korean companies have applied for Board of Investment (BoI) privileges on 63 projects worth 14.367 million baht since 2018.

The South Korean projects receiving privileges are in the automaking, digital, electronics and biological sectors.

Over the past 10 years, South Korean businesses have sought and obtained BoI tax privileges for 365 projects, worth 65.123 million baht.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/thailand/economy/40021263

BCG and FTAs: Empowering Thai trade in the Asia-Pacific

SUNDAY, OCTOBER 23, 2022

THE NATION

Part of the economic tapestry that drives APEC, Thailand – hosting the cooperation in 2022 – implemented a range of programs and projects to revitalize its trade and commerce, mobilizing both the Bio-Circular-Green Economy (BCG) concept and Free Trade Agreements (FTAs) to stimulate economic activity.

Coupling the potential of BCG and FTAs was the Department of Trade Negotiations under the Ministry of Commerce’s “Thai Entrepreneur Program for FTA Market”.

The endeavor first sought out businesses with the potential to greatly benefit from implementing the BCG approach, which combines the bio, circular and green economic models into one that adds value by making producers more environmentally-friendly and socially responsible, bolstering their sustainability.

These enterprises, mostly in the realms of agricultural produce and lifestyle goods, were given support to realize their potential under BCG and then access to a business matching session in July 2022 at the “Thai Entrepreneur Program for FTA Market”, an event organized by the Department of International Trade Promotion.

The businesses were matched with possible partners within the Regional Comprehensive Economic Partnership (RCEP), spanning ASEAN and Japan, as well as major entities such as TV Direct and e-commerce platform Thailand Mall.

Feedback from the effort was immensely positive, with participating businesses hailing it for broadening their trade bases and boosting their standing.

The program was more notably, a prime example of how Thailand is promoting BCG as a way to unlock value for businesses as well as how producers and service providers based in Thailand can significantly benefit from its FTAs.

According to the Department of Trade Negotiations, Thailand is engaged in 14 FTAs with 18 countries both within and beyond the Asia-Pacific. These agreements range from bilateral with Australia, New Zealand and India to multilateral via ASEAN. 

Hosting APEC for 2022, Thailand’s mobilization of FTAs is consistent with the priority of “opening” the region to all opportunities. Employing the power of the BCG economy model, Thailand has provided clear examples for APEC on how the forum can reignite trade and prepare it for a future where environmental harmony and sustainability are leading economic factors.