Lavaron Sangsnit, who is also spokesperson for the Ministry of Finance, said the amount was 0.5 per cent and Bt13.06 billion more than targeted.

The Revenue Department separately collected Bt9.14 billion (up 0.5 per cent), the Customs Department Bt8.52 billion (8.5 per cent), state-owned enterprises Bt1.15 billion (0.7 per cent) and other agencies Bt46.01 billion (32.4 per cent).

The amounts were all close to those forecast by the ministry in June for the purpose of revenue monitoring.

Lavaron said continuous economic growth and close monitoring by the ministry resulted in net revenue collection for fiscal 2019 falling in line with targets.

“This will strengthen the government’s fiscal balance and foster economic growth in the coming years,” he noted.

He said the government had received Bt2.53 trillion in cash revenue and disbursed Bt3.04 trillion, financing the deficit by borrowing Bt348.97 billion.

Treasury reserves at the end of September stood at Bt512.95 billion.

Acting director-general Somdet Susomboon revealed that the department was all set to promote Thai fruit in Nanning, Pingxiang, Qingdao, Shanghai, Beijing, Wuhan, Shenzhen, Chengdu, Xiamen, Kunming and Hong Kong. The first event, which will feature both tasting and fruit carving demonstrations, will be part of the Nanning Fruit Festival in Hang Yang department store this weekend (October 25-26) and will focus on young coconuts, coconut products, pomelo and longan.

The value of fruit exports to China from January to September stood at $1.968 billion, an increase of 90.62 per cent over the same period last year.

“Our department is confident that these fairs will help increase Thailand’s share of the fruit market while encouraging Chinese consumers to explore Thai fruit more,” Somdet said.

“Thailand’s scores are 80.10 , up 1.65. This is our highest rank in the past six years, “ he said.

Thailand is close to catching up with Malaysia’s scores of 81.50 and Singapore’s 86.20. Singapore is ranked second and Malaysia 12th in Doing Business 2020, he said.

Thailand has done better in dealing with construction permits by cutting 19 procedures to 14 and waiting times for approval from 118 days to 113 days, up-ranking to 34th place from 67th place previously .

Uttama said the country had also improved in protecting minority investors, pushing up the rank in this category to third place from 15th last year.

However, he admitted that Thailand still has to improve in many areas in order to provide more convenience for running business in the country.

For this year’s index, the World Bank looked at regulations affecting 10 areas in the life of a business, namely: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.

Takorn Tantasith, NBTC secretary-general, said the bids will cover multiple bands at the same time, including the remaining 700MHz and 1800MHz bandwidths, as well as the 2,600MHz and 26GHz.

Though each bidder will have a choice of their desired bands and bandwidths, the NBTC will cap the 26GHz at no more than 1,200MHz bandwidth per bidder, while the 2,600MHz will be capped at a maximum of 100MHz bandwidth per bidder.

The regulator aims to grant the 5G licences within February, so bid winners can start the network rollout by March.

The NBTC will auction off a total of 15MHz bandwidth of the 700MHz spectrum, which will be divided into three licences of 5MHz bandwidth each. Also on tender will be 35MHz bandwidth of 1,800MHz split into seven licences of 5MHz each.

The starting price for the 700MHz licence will be Bt17.584 billion, based on the price NBTC put the band on sale in June this year.

The 1,800MHz licences will go for around Bt12.5 billion each based on the winning price of the previous bid.

NBTC will also auction the 190MHz bandwidth of the 2,600MHz, which will be split into 19 licences of 10MHz bandwidth each, while the 2,700MHz bandwidth of the 26GHz spectrum band will be divided into 27 licences of 100MHz each.

Takorn added that the NBTC will disclose the starting price of the 2,600MHz and the 26GHz spectrum bands on October 30.

The watchdog aims to submit the auction timeframes and details of all these bands to the telecom subcommittee on November 6, before they are forwarded to the NBTC board for consideration. It intends to invite bidders by December 20.

Related story: Lao Telecom seeks edge in meeting 5G demand Corporate

Related story: Vietnam to phase out 2G service soon

Related story: Thai telecom operators could see annual revenue boost of $1 billion from 5G

The conference will examine Thailand’s priorities post-2020 and what action is required from all stakeholders to ensure the country’s long-term success.

Planned and organised by the International Air Rail Organisation (IARO), Project Planning Service (PPS) and PPS OneWorks, the event is expected to attract 600 delegates from 30 countries.

Delegates will be able to learn from 30 high-level speakers from Thailand and beyond.

The morning will have discussions from local and overseas industry leaders and public authorities. In the afternoon there will be two focus sessions:

• Air Rail Development – Exploring global trends in technology, operations, development, marketing and branding of rail links to airports, as well as best-practice expertise in rail-to-airport services.

• InnoCon Bangkok – As digital technology powers a new era of infrastructure construction, experts discuss how best to leverage the increasingly large amounts of data and technology to increase benefits to all.

Dr Phongthon Tharachai, CEO of PPS, and Giulio De Carli, managing partner of OneWorks, will open the event with an insightful overview of the industry before introducing Italyian Ambassador Lorenzo Galanti, who will discuss “Why Thailand is a key destination for infrastructure investment in Asia”.

Voravuth Mala, governor of the State Railway of Thailand, will reveal “The vision for Thailand’s railway network” and Surachet Laophulsuk, assistant governor of the Mass Rapid Transit Authority, will talk about “The construction of urban electric train networks and the next challenging steps for Thailand”.

Another important session from the Engineering Institute of Thailand under the patronage of His Majesty the King, will examine why “Innovation and investment in talent is essential for Thailand’s future success”.

Other key speakers:

Simon Earles, president of The International Air Rail Organisation

Somprasong Suttayamully, director of the MRTA’s Office of Fare Media Business

James Cornelius, public transport strategy lead for Heathrow International Airport

Sonesak N Nhansana, former deputy director general of the Laos Ministry of Public Works and Transport’s Railway Department

Prinn Panitchpakdi, adviser to the Deputy Prime Minister and New Economy director

Chakrapan Pawangkarat of the Thai Green Building Institute

Ekarin Vasanasing, deputy manging director of Krungthep Thanakom

Suphin Mechuchep, managing director of Jones Lang LaSalle (Thailand) JLL

Han Chung Heng, senior vice president of Oracle for EMEA

Andy Saunders, surface access strategy manager for Manchester Airport Group

Bangkok is currently undergoing an urban transport infrastructure boom, with a series of upgrades being commissioned to connect the city’s 10 million inhabitants and 20 million annual foreign visitors with three airports.

At present, the 28.4-kilometre Airport Rail Link connects downtown Bangkok with Suvarnabhumi Airport.

The new High-Speed Rail Link 3 Airport Project will open up the Eastern Economic Corridor with two new connecting routes to Don Mueang and U-Tapao airport, totalling 220km of seamless railway routes with maximum speeds of 250kmph.

These are among the most extensive and ambitious air rail infrastructure developments currently being undertaken anywhere in the world, and Air Rail 2019 will shine a light on the strategy, planning, partnerships and funding that are required to make these initiatives a success.

The report points to the many uncertainties the region is facing.

IMF says that the external downside risks to the outlook stem from a possible further deepening of US-China trade tensions, weaker-than-expected growth of key trading partners, higher oil prices, and a disorderly Brexit. Risks within the region include a faster-than-expected slowdown in China, a deepening of regional tensions such as Japan’s and South Korea’s bilateral relationship, rising geopolitical risks, and increased incidence of natural disasters.

The IMF says headwinds from prolonged global policy uncertainty, distortionary trade measures, and growth deceleration in the economies of important trading partners are influencing economic growth in Asia and the Pacific. Although the region is still the world’s fastest growing major region, contributing more than two-thirds to global growth, near-term prospects have deteriorated noticeably since the April 2019 World Economic Outlook, with risks skewed to the downside.

Growth in Asia is expected to slow to 5.0 per cent in 2019 and 5.1 per cent in 2020 (0.4 and 0.3 percentage points lower than projected last April, respectively).

A marked deceleration in merchandise trade and investment, driven by distortionary trade measures and an uncertain policy environment, is weighing on activity, particularly in the manufacturing sector. Loosening monetary policy in key advanced economies and, correspondingly, easing financial conditions, are mitigating the impact of slower growth on Asian economies, but could add to financial vulnerabilities in the region.

Considering the expected deceleration in growth, IMF says that macroeconomic policies should use existing fiscal and monetary policy space to smooth domestic demand where warranted. Financial sector policies should be adjusted proactively to ensure that loosening financial conditions do not fuel a further buildup of financial stability risks. Reducing firm and household leverage should be a priority in countries where exposures in these sectors are of concern. The cyclical slowdown also highlights the urgency to pursue structural reforms to lay the foundation for high, inclusive, and environmentally sustainable economic growth in the medium term, where the imperatives include further trade liberalization, including reducing non-tariff barriers to services trade, and relaxing investment restrictions; sustained investment in people, by upgrading human capital while empowering women and youth; policies to stimulate the labour supply, including higher female labour force participation; reducing infrastructure gaps and enhancing regulatory frameworks; and more ambitious measures to mitigate the drivers of climate change while building fiscal buffers to adapt to the increasing incidence of natural disasters.

That would make rice exports in 2019 lower than last year by 3.5 million tonnes.

Rice exports during the first nine months totalled 5.9 million tonnes, a reflection of the fierce competition from other countries.

He added that many local exporters have suffered losses due to the strong baht but have nonetheless continued to trade to safeguard their market share.