Finance Ministry Upbeat As Annual Tax Revenue Beats Target For 1st Time Since Covid
BY LINE : THE NATION
TUE, SEPTEMBER 13, 2022
Tax Revenue For 2022 Has Already Surpassed The Target Of 2.4 Trillion Baht, In A Sign That The Economy Is Recovering, The Finance Ministry Said On Tuesday.
Ministry permanent secretary Krisada Chinavicharana said the target had already been exceeded by 70 billion baht. The 2022 fiscal year will end this month.
The surplus would be 130 billion baht had the diesel tax not been reduced to soften the impact of soaring fuel prices, Krisada added.
The ministry expects this month’s revenue collection to increase in line with rising consumption and tourism.
The Revenue Department collected 1.67 trillion baht during the first 10 months of fiscal 2022, which was 210 billion baht more than at the same period last year.
But the Excise Department failed to meet its own revenue target after the government reduced diesel excise tax three times.
The Finance Ministry expects the economy to expand 3.5 per cent this year from 2021.
This is the first year since the Covid-19 pandemic began that the government has reached its tax-revenue target.
It missed the target by 336 billion baht (12.3 per cent) in 2020 and 307 billion baht (11.5 per cent) in 2021.
Krisada said the government’s decision to extend the diesel tax cut for two months from September 20 to November 20 would cost the government about 20 billion baht in revenue.
The government has set a revenue target of 2.49 trillion baht for fiscal 2023, which begins next month. Krisada said the Finance Ministry is confident that target will be met as well.
Thailand’s Unskilled Workers To Get A Raise From Oct 1
BY LINE : THE NATION
TUE, SEPTEMBER 13, 2022
The Cabinet On Tuesday Gave The Go-Ahead To The New Daily Minimum Wage Rate As Agreed Upon By The Tripartite Wage Committee. The New Wage Rate Will Go Into Effect From October 1.
At its weekly meeting chaired by acting PM Prawit Wongsuwan, the Cabinet gave the green light for the Labour Ministry to implement the new rates from next month.
Under the new rates, the daily earnings of unskilled workers will rise by about 5.02 per cent averaging about 337 baht per day.
Boonchob Suthamanuswong, permanent secretary for Labour Ministry, said the tripartite wage committee had agreed on the following minimum daily wage in different provinces:
• 335 baht: Phetchabun, Kanchanaburi, Bueng Kan, Chai Nat, Nakhon Phanom, Phayao, Surin, Yasothon, Roi Et, Loei, Phatthalung, Uttaradit, Nakhon Sawan, Prachuap Khiri Khan, Phitsanulok, Ang Thong, Sa Kaew, Buri Ram and Phetchaburi
• 332 baht: Amnat Charoen, Mae Hong Son, Chiang Rai, Trang, Si Sa Ket, Nong Bua Lamphu, Uthai Thani, Lampang, Lamphun, Chumphon, Maha Sarakham, Singburi, Satun, Phrae, Sukhothai, Kamphaeng Phet, Ratchaburi, Tak, Nakhon Si Thammarat, Chaiyaphum, Ranong and Phichit
• 328 baht: Yala, Pattani, Narathiwat, Nan and Udon Thani.
“Singha Soda” Showcases Winners From “Singha Soda Snap The Moment” Campaign With Prizes Worth THB1 Million
BY LINE : THE NATION
MON, SEPTEMBER 12, 2022
Singha Soda Announces The Winners In The PEOPLE And PLACE Categories Who Won Leica D-Lux In “Singha Soda Snap The Moment.” The Campaign Invites Participants To Take A Photo Of Singha Soda And Its New Label With The “Fizzy Moment” Concept, Which They Can Submit Until September 21 And Stand A Chance To Win A Leica M11 With Lenses And Other Prizes Worth Up To 1 Million Baht.
The “Singha Soda Snap The Moment” campaign, which recently passed its halfway point, is a photo-shooting campaign that invites everyone to find their “fizzy moment” with the new Singha Soda label through 4 categories; PEOPLE, PLACE, PLANET, and PEACE. The winners of each category will win the Leica D-Lux valued at over 50,000 Baht and stand a chance to win the grand prize, Leica M11 with lenses, and other prizes valued at over 1 million Baht.
The winners of Snap of the Week in each category are: PEOPLE is Mr. Worawut Chaikittikorn and his work ‘You fizzled my life,’ PLACE: Mr. Adisak Palasap and his work ‘Fizzle up the night with Singha Soda.’ In comparison, the winners of the PLANET category will be announced soon. And don’t forget to participate in the Singha Soda Snap The Moment activity under the PEACE category.
After announcing four winners, every submission will stand a chance to win three special prizes. The final winners will win Leica M11 with lenses kit, a new addition to the Rangefinder series with CMOS BSI sensor over 60 million pixels worth over 450,600 Baht, the 1st runner-up will win Leica Q2 Monochrome valued over 213,300 Baht, and the 2nd runner up will win Leica Q2 worth over 211,300 Baht. Participants can submit their work until September 21 and read more details at Soda Singha Facebook or www.SinghaSodaSnaptheMoment.com
Revenue Department To Come Up With Carbon Tax Plan Next Year
BY LINE : THE NATION
MON, SEPTEMBER 12, 2022
The Revenue Department Will Next Year Come Up With Clear Measures And Rates For Carbon Taxes On Goods That Emit High Carbon Dioxide During Production, Its Chief Said On Monday.
Ekniti Nitithanprapas, director-general of the department, said clear measures and rates for collecting the so-called carbon tax would be ready by next year.
He said the department is now studying effective measures to slap carbon tax on goods and services that emit high volume of greenhouse gases as several other countries have started collecting the tax.
“Thailand cannot avoid collecting carbon tax because many other countries have already started doing it,” Ekniti said.
He said European Union nations would next year start collecting carbon taxes on five goods whose production processes cause high carbon dioxide emissions. The five goods categories are: cement, steel, aluminium, chemicals and fertilisers, and electricity.
“If Thailand does not collect carbon taxes on these goods, exporters will have to pay the tax at the destination EU nations. If we collect the tax in Thailand, we will negotiate with the EU to exempt the goods from double carbon tax,” Ekniti said.
So far, the department is contemplating two methods – collecting on the goods or collecting tax on the production process at the factories.
For the first option, the tax will vary in accordance with amount of carbon dioxide emitted when the goods are made, Ekniti said.
For the second option, the department will collect carbon tax during the manufacturing process – at the start, the midway and the end of production. He said if the department chooses the second option, it will have to consult the Thailand Greenhouse Gas Management Organisation on the collection method and tax rates.
Ekniti said the carbon tax is being planned in accordance with the department’s goal to promote Environment, Social and Governance among businesses.
The goal is to support the government’s target of having carbon neutrality by 2050 and net zero emission by 2065.
The New Queen Sirikit National Convention Center Welcomes Eight National And International Events In Its First Month Of Reopening
BY LINE : THE NATION
MON, SEPTEMBER 12, 2022
Queen Sirikit National Convention Center (QSNCC) Returns To Center Stage With A New Contemporary Design Yet Retaining The Thai Identity. Positioning Itself As “The Ultimate Inspiring World Class Event Platform For All,” QSNCC Warmly Welcomes Eight National And International Events In Its First Month Of Operation.
Sakchai Pattarapreechakul, Chief Executive Officer (CEO), of N.C.C. Management & Development Co., Ltd., the operator of QSNCC, said, “We are honored to welcome organizers and visitors from all over the world. With the objective of being more than a “convention center” that facilitates “MICE” events, QSNCC will attract more types of events and bring new event profiles, enhancing Thailand’s event industry reputation and positioning Thailand as Asia preferred event destination.”
Eight events are lining up in September, including:
1. Restart Thailand: Asian Exhibition Updates (September 13) The forum allows international organizations in Thailand and Thai exhibition professionals to network and gain firsthand information from regional speakers.
2. Asian Sustainable and Energy Week 2022 (September 14-16) ASEAN’s most comprehensive international exhibition and conference on Renewable Energy, Energy Efficiency, the Environment, and Electric Vehicle Technology.
3. Electric Vehicle Asia 2022 (EVA) (September 14-16) Thailand’s one and only International Electric Vehicle Technology Conference and Exhibition.
4. Boilex Asia (BXA) & Pumps and Values Asia (PVA) 2022 (September 14-16) The most comprehensive and specialized international exhibition and conference on boiler, pressure vessel, and pumps and valves technology.
5. Thai Water Expo (THW) 2022 (September 14-16) Thailand’s International Exhibition and Conference is devoted entirely to water and wastewater technology. The exhibition features technologies and solutions from 25 countries and international pavilions.
6. Tissue and Paper Bangkok 2022 (September 14-16) An exciting and innovative exhibition and conference focused on the pulp, paper, packaging, and tissue industries in Asia.
7. Food & Hospitality Thailand (September 21-24) The event offers products and services for every need in the hospitality industry, from food to travel.
8. Sustainability Expo: GOOD BALANCE, BETTER WORLD (September 26 – October 2)
Discover multimedia exhibitions and a wide range of initiatives and sustainability guidelines from leading national and international organizations in ASEAN’s largest sustainability expo.
In addition to world-class facilities and services for organizers and visitors, QSNCC has leading retail brands, restaurants, cafés, convenience stores, sports equipment stores, IT stores, and so on to cater to all lifestyles. Even on a no-show day, everyone can have fun and spend quality time at QSNCC.
The Queen Sirikit National Convention Center is ready to unveil its new look as ‘The Ultimate Inspiring World Class Event Platform for All’ on September 12, 2022, onwards. For more information, please contact 02-229-3000 or www.qsncc.com, www.facebook.com/QueenSirikitNationalConventionCenter, and LINE Official: @qsncc
Ministry Of Social Development And Human Security Hosts APEC Women And The Economy Forum
BY LINE : THE NATION
MON, SEPTEMBER 12, 2022
On September 7, H.E. Chuti Krairiksh, Minister Of Social Development And Human Security (MSDHS) Presided Over The Opening Of The APEC Women And The Economy Forum: High Level Policy Dialogue On Women And The Economy.
The event, held at TRUE ICON Hall, 7th Floor, ICONSIAM, Bangkok, is the ministerial meeting with the theme of “Women’s Empowerment through BCG”, in which, the Ministry of Social Development and Human Security by the Department of Women’s Affairs and Family Development served as the host of the meeting. The meeting is composed of Ministers or high-level representatives from ministries or agencies that are related to women and the economy from the APEC Economies, APEC Secretariat, APEC Advisory Council, SOM Chair, and PPWE Chair.
H.E. Chuti said that on behalf of the Royal Thai Government and the People of Thailand, it was his great pleasure and honour to welcome ministers, head of delegations and other participants. For this APEC Women and the Economy Forum there were 20 economies registered to participate the meeting in a hybrid format, at the total of 150 participants.
He also said that the meeting was the first hybrid meeting after the recovery of Covid-19. The Thai government underlines the importance of the empowerment and advancement of women and gender equality within Asia-Pacific Region, under the La Serena Roadmap for Women and Inclusive Growth (2019-2030), Putrajaya Vision 2040 and APEC plan of actions and other mechanisms.
H.E. Chuti also underlined women’s key role in BCG Economies, therefore, supporting women’s opportunity would lead to a sustainable and successful economy and be in line with the theme of APEC Meeting 2022. “Open. Connect. Balance.” which focused on opening access to various opportunity through APEC, connecting to all dimensions and balance in all aspect, in which Thailand believe that the world could transition successfully to a balance and sustainable economy after the Covid-19 recovery.
H.E. Chuti concluded that challenges could be transformed into opportunities and gender perspectives must be mainstreamed into policies, action plans and budgets increasing opportunities for women to have equal access to capital and market, leadership positions, education, and digital skill development in a changing world. Collaborations and networks are keys to provide a supportive environment that could lead to the promotion of inclusive development and empowerment for all women in this region.
Energy Ministry Lines Up Diesel Tax Cut, Power Bill Discounts As Fuel Crisis Deepens
BY LINE : THE NATION
MON, SEPTEMBER 12, 2022
The Energy Ministry Will Propose Two Measures To The Cabinet Tomorrow Aimed At Alleviating People’s Financial Burdens As Energy Prices Soar.
Minister Supattanapong Punmeechaow said he will propose extending the excise tax cut for diesel, currently set at 5 baht per litre but due to expire on September 20. He did not say how long the measure will last or whether the tax cut will remain at 5 baht.
The other proposal is for discounts on electricity bills for households. This measure is expected to last from September to December and will see households that use 301-500 units per month receive discounts of between 15 and 75 per cent off their bills.
Households using less than 300 units per month will get a discounted per-unit rate of 0.9204 baht.
The ministry estimates that the power-bill discounts will cost the government around 2 billion baht per month or 8 billion for four months. The discounts will be funded by the 2022-2023 central and emergency government budgets.
Supattanapong added that the Energy Ministry is also in talks with the Finance Ministry to issue tax benefits for households that install solar rooftop panels. This move is aimed at getting more people to use renewable energy.
He added that since the start of the global energy crisis following Russia’s invasion of Ukraine earlier this year, the government has spent over 200 billion baht in energy subsidies to soften impacts on the general public. Of this, 120 billion baht has been spent on the Oil Fuel Fund to subsidise prices at the pump, while about 80 billion was used by the Electricity Generating Authority of Thailand (Egat) to suppress fuel tariff rises.
Supattanapong said subsidy to Egat could soon exceed 100 billion baht if the price of natural gas in the global market continues to rise.
Apec Lays Out Path For Sustainable Growth Of MSMEs
BY LINE : THE NATION
MON, SEPTEMBER 12, 2022
The 28th Apec Ministerial Meeting Focused On Using The BCG Model, Digital Transformation And Financial Policies To Boost The Capacity Of Micro, Small And Medium Enterprises (MSMEs).
Deputy PM Suppattanapong Punmeehaow, who chaired the meeting, pointed out that MSMEs make up more than 98 per cent of the region’s businesses and contribute 40 to 60 per cent of the GDP in most Apec economies.
“Promoting a more resilient, inclusive and dynamic trade and investment environment that strengthens the role of Apec MSMEs in the global economy is critical to economic recovery and sustainability of the region,” he said.
The Apec Small and Medium Enterprises Ministerial Meeting, held on Friday and Saturday in Phuket, was attended by ministers responsible for MSMEs from 21 economies. Also present were delegates from the Apec Business Advisory Council and Asean countries.
The theme of the meeting was “Inclusive Recovery of Apec MSMEs through the Bio-Circular-Green Economy (BCG) Model and High Impact Ecosystem”.
Supattanapong said the meeting focused on an inclusive, high-impact recovery plan in four priority areas, namely:
• BCG adoption: Promoting the BCG model to add value to MSME products and services, boost business opportunities and reinforce ongoing global efforts to address climate change.
• Digital transformation: Digitalisation to accelerate comprehensive development of MSMEs, boost recovery from the fallout of the Covid-19 pandemic and move closer towards the Apec Putrajaya Vision 2040, which targets strong, balanced, secure, sustainable and inclusive growth. The aim is to equip MSMEs with digital skills and tools, so they can reach more markets and customers. MSMEs will also require more consultation, digital skills training and digital solutions.
• Financing and debt restructuring for MSMEs: Apec countries are encouraged to address traditional lending constraints by introducing a credit enhancement scheme, credit mediation, alternative funding options like venture capital, sustainable finance, angel investment, private equity and promoting financial literacy. The aim should be to give MSMEs, especially those owned or led by women, greater and easier access to capital market financing.
• Coping with an evolving market landscape: The meeting embraced efforts to strengthen MSMEs’ competitiveness by improving the business environment for start-ups, fostering innovation, promoting participation in regional and global value chains and collaborating with large enterprises.
Supattanapong said he hoped the meeting would result in greater cooperation among Apec countries to encourage MSMEs and start-ups to adopt the BCG model as well as new technology to compete in the global market and contribute to the sustainable growth of regional economies.
The Embassy Of Ukraine In The Kingdom Of Thailand Invites You To Enjoy The Ukrainian Buffet Dinner As A Part Of The Event “Days Of Ukrainian Cuisine In Bangkok”.
A unique, original, a wide variety of tastes – this is how Ukrainian cuisine is seen by everyone who is familiar with it.
If you have been dreaming to become its connoisseur for a long time, but didn’t have such an opportunity, the Embassy of Ukraine in the Kingdom of Thailand together with Yurii Kovryzhenko – a well-known Ukrainian chef, gastro diplomat, whose author’s molecular borsch astounded the Michelin Guide, invite you to enjoy the Ukrainian buffet dinner as a part of the event “Days of Ukrainian cuisine in Bangkok”.
Kovryzhenko is the Ambassador of Ukrainian cuisine worldwide and promotes national gastronomy on all continents. He respects homemade traditional recipes, but at the same time, he’s always looking for modern and “haute” variations.
He came to gastronomy from the world of sculpture, and therefore his dishes are characterized by special aesthetics and thorough attention to the smallest details.
Kovryzhenko was educated in the best culinary schools in Europe – Ecole Ritz Escoffier, Ferrandi Paris, Basque Culinary Center, and others and has received many awards and prizes: Global Chef Awards 2017, Ambassador of Taste for the Global Gastronomy 2021, 2022, Gold Medal Best of Gastronomy 2021. He is also a member of the Order of Disciple Escoffier International.
Kovryzhenko’s name is strongly associated with Ukrainian cuisine, both in Ukraine and abroad.
He promotes national gastronomy at official events at Embassies, international forums and competitions, and cooks for top officials and the political elite.
Kovryzhenko cooked borsch in 30 countries of the world on four continents. He opened restaurants of Ukrainian cuisine in Seoul (Korea) and Tbilisi (Georgia).
Currently, he is opening the Ukrainian neo-bistro Mriya in London, which he calls the “cultural and gastronomic embassy of Ukraine”.
Given his experience and high academic professional education, he considers Ukrainian cuisine to be one of the most difficult in terms of cooking technology.
At the time of the start of Russia’s war against Ukraine, he was in London as part of his gastronomic mission. He is actively involved in charitable activities to raise funds for Ukraine. In two months, he held more than 20 charity dinners and raised more than £500,000. Highlights include a 1,000-person lunch at the Grosvenor House JW Marriott and dinner with Jamie Oliver.
Do not miss your chance to talk to our chef in a friendly atmosphere and take an unforgettable gastro tour to Ukraine at The Emerald Hotel on September 17, 18.00 – 22.00 hrs.
Registration is not required. The restaurant entrance fee for 1 person is 1,299 Thai baht. 50% of the collected charity funds will be transferred through the United24 fundraising platform for Ukraine’s needs.
Delicate Authentic Flavours Are Not Enough To Ensure Success In The Thai Fine-Dining Business Today. Adding Consciousness About Sustainability Is A Key To Level Up, According To Blue Elephant, A Well-Known Global Thai Fine Restaurant Chain.
Thai cuisine is popular around the world because it is marketed as the healthiest meal which the rich of herbs. Many non-Thai customers visit Thai restaurants around the world. In 2017, seven Thai dishes were named in CNN Travel’s “World’s 50 Best Foods” list, which was based on an online poll of 35,000 people.
According to statista.com, revenue in Thai food market amounts to US$65.31 billion in 2022. The market is expected to grow annually by 5.83 per cent.
Blue Elephant Group and Blue Spices Vice Managing Director Kevin Somany discusses his goals and challenges after half-inheriting this 42-year-old Thai fine-dining restaurant in an exclusive interview with The Nation in order to stay at the forefront of this competitive market.
Blue Elephant, which opened in Brussels, Belgium in 1980, was one of the first well-known Thai fine dining restaurants among foreigners.
After years of tremendous success, the Blue Elephant Restaurant and Cooking School returned to its homeland, opening in Bangkok in 2002, followed by a Phuket branch in 2010. The Blue Spice factory, the Blue Elephant group’s manufacturing arm, was then opened in 2006.
Kevin concedes that the authentic taste of genuine traditional Thai cuisine at Blue Elephant restaurants, and their other spice products, such as curry pastes, sauces and seasonings, have given them global recognition. These key elements, however, cannot be their sole unique selling points to sustain the business in the long run.
Adding more items to the menu, creating more products and more services will help, but they will not be enough to make Blue Elephant and Blue Spices any different from other Thai restaurants, he points out.
“When you come out with any new products, it has to have something unique beyond normal standards,” Kevin says, and that’s when he discovered the critical part of the sustainability factor.
Kevin says that Blue Elephant has been concerned about people, the community, and the environment since its inception. It is the guiding principle of chef Nooror Somany Steppe and her husband, restaurant founder Karl Steppe.
Hence, all he needs to do now is make those principles visible and concrete.
That’s when he and his management team decided to go for a makeover in the packaging of all Blue Spices products, including their pastes, sauces, spices, and cooking sets in 2020.
“The change is in the very small details, you have to observe closely to see it,” says Kevin, as he demonstrates their products.
All the cardboard used for packaging is 100 per cent from trees certified by Forest Stewardship Council, meaning the trees are harvested from forests that are responsibly managed, socially beneficial, environmentally conscious and economically viable.
Besides, the packaging has been redesigned to eliminate the use of plastic film coating, no more see-through windows to prevent a plastic, non-toxic water-based matted coating, and a smart lock pack to eliminate the use of glue or Polyvinyl chloride sticker.
Furthermore, the package is labelled with a new logo to certify that the improvement is in the nature of more eco-friendly packaging, Kevin points out.
“As Blue Elephant, no one doubts our quality and the authentic Thai traditional taste. However, in every change, we have to add a bit more level of delicacy that will please our customers,” Kevin noted.
He says that the market has reacted favourably to the products. Blue Elephant sold 3.5 million units of products just before Covid. With people staying at home during the pandemic and a growing interest in Thai cuisine, it peaked at 4.6 million units, with curry pastes accounting for 70 per cent of sales.
However, he believes that a part of the reason people from other countries choose Blue Elephant is not only the savoury flavours, but also the innovative eco-friendly packaging.
According to a study on “Thai Cuisine to Global Market” by Napavarn Noparatnaraporn, an expert in biodiversity, one of the most important things that draws customers’ attention is creative and distinct packaging. Furthermore, food producers must be concerned about society, the environment, and the global food market in the near future.
“Our biggest market is the USA, followed by Switzerland, Austria, Israel and Hong Kong. The Netherlands, despite a year-long disruption, could be added to this list as it has always been in the top 3 and is about to be back in the top 5,” says Kevin.
Kevin is currently moving forward with his plan to expand its Pathum Thani factory, where work was temporarily suspended due to the pandemic. The new factory will be twice the size of the old one and will begin production in 2024.
“The demand is growing stronger and stronger. With the factory expansion, we can increase production, manpower, and use a more sustainable method. We are in the midst of a young generation that is just stepping in. Hopefully, we will be able to continue for the next hundred years,” Kevin states.
Blue Spices now has four main product categories: ready to cook, ready to eat, ready to heat, and ingredients.
“I think Blue Elephant is a great concept and my dream would be to have one Blue Elephant in every major city in the world. There are many places that deserve to have a Blue Elephant restaurant,” Kevin says.
Currently, there are four Blue Elephant restaurants in operation: Bangkok, Phuket, Copenhagen, and Malta. They did, however, manage to expand their Blue Spice products to 45 countries worldwide, with more new markets on the way.
In addition, they provide cooking-based curry pastes, dipping and dressing sauce to airlines, hotels, and Thai restaurants as well as Thai cooking classes.
Sustainability has been a buzzword for many years as a result of the global environmental crisis. The United Nations declared climate change an emergency and urged all parties to do more to protect the environment.
The term is also thought to be a key secret to success for many businesses looking to expand and is projected to skyrocket in developing economies and emerging markets in the coming years
Fortune Business Insights found out that the global green technology and sustainability market is expected to grow from $13.76 billion in 2022 to $51.09 billion by 2029.
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