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Flooding in Bangkok to Cost $2.6Bn per Month

Flooding in Bangkok, if it lingers longer than 3 months, will cost 250 billion in economic losses, according to a senior officer of the Thai Chamber of Commerce (TCC).

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Bangkok should be restored to normalcy within three month

Flooding in Bangkok, if it lingers longer than 3 months, will cost 250 billion in economic losses, according to a senior officer of the Thai Chamber of Commerce (TCC).

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Pornsilp Patcharintanakul, deputy secretary-general of the chamber, warned of the economic fallout after Bangkok Governor Sukhumbhand Paribatra said that Bangkokians in all 50 districts must brace for the massive deluge from the North.

Bangkok should be restored to normalcy within three month

Bangkok should be restored to normalcy within three months, otherwise it would cost the city 250 billion baht in economic losses or 83 billion baht a month

Mr Pornsilp said the capital’s gross domestic product (GDP) amounts to one trillion baht annually, therefore the government must urgently tackle the flooding situation and salvaging the capital through water draining to the sea.

“Bangkok should be restored to normalcy within three months, otherwise it would cost the city 250 billion baht in economic losses or 83 billion baht a month,” he said. “The longer the flood, the more losses incur to its economy.”

via Failure to salvage capital within 3 months would cost Bt250 billion.

New Plan to drain water from Bangkok

Prime Minister Yingluck Shinawatra on Thursday assigned officials and water experts to conduct aerial surveillance over the capital for the possible cutting of four roads in eastern Bangkok to drain more floodwater to the sea, more quickly.

The move came after Ninnart Chaithirapinya, representing private sector engineers, met the prime minister and advised that the method would help the deluge pass through eastern Bangkok to the sea.

Using the method, water will drain four times faster than the city’s current water drainage system, Mr Ninnart explained. In particular, it would help minimise economic damage.

To minimise flood damage in inner Bangkok, the four roads which block the waterflow — Pracharuamjai, Ratcha-uthit, Suwinthawong and Ruam Pattana — should have a 5-6 metre width channel cut through each and use steel bridging to link the road in order to allow volume of 60 million cubic metres (MCM) of floodwater to pass through it daily, he said. To combine with water releasing from eastern canals, as much as 100 MCM of water daily could be drained to sea with water pumps in full operation.

Business

Thailand Approves Latest Economic Relief Package for Businesses

Some 250 billion baht (US$8 billion) was allocated for soft loans while the remaining 100 billion baht (US$3.2 billion) will go towards an ‘asset warehousing’ program whereby debtors can use their assets as loan collateral but will have the right to redeem their assets under a specific time frame.

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On March 23, 2021, Thailand’s government approved its latest economic relief package, valued at 350 billion baht (US$11.2 billion), to support businesses in the country.

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Thailand BOI approves Biotech Projects Worth 2.4 Bln Baht ($78 million)

The biotechnology sector is part of the so-called BCG model (Bio, Circular and Green economy) which the Thai government has set as a priority to lead the post-Covid 19 recovery.

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The Thailand Board of Investment (BOI) said today it has recently approved new projects in the field of advanced biotechnology, worth a combined 2.4 billion baht (around USD78 million) in investment, reflecting the increased interest of local and foreign investors in the country’s biotech sector.

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Asia-Pacific sees 3.9% growth in deal activity in February 2021

Boris Sullivan

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Chair’s Statement on the Informal ASEAN Ministerial Meeting (IAMM)

The Asia-Pacific (APAC) region saw a 3.9% month-on-month growth in deal activity (mergers & acquisitions, private equity and venture financing deals) from 1,126 deals to 1,170 deals in February 2021, according to GlobalData, a leading data and analytics company.

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