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PTT to invest 30bn ($967M) baht in EEC

PTT Public Company Limited has allocated some 30 billion baht, to invest in newer forms of energy in the Eastern Economic Corridor (EEC)

National News Bureau of Thailand

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BANGKOK, (NNT) – The global economic slowdown and trade war have caused fluctuations in energy prices. In response, PTT Public Company Limited has allocated some 30 billion baht, to invest in newer forms of energy in the Eastern Economic Corridor (EEC), while the company’s profit in 2019’s first half was reduce by higher oil prices.

PTT President Chansin Treenuchgorn has revealed the company’s financial report on the first six months of 2019, saying that the company’s revenue had increased by 9.44 billion baht year-on-year, making the company’s gross revenue 1.12 trillion baht.

The company has 55.25 billion baht profit after subtracting operational costs, which is less than the previous year by 21 percent, at 14.57 billion baht, due to higher oil pricing which is still on average below last year, effects from the trade war, and economic slowdown.

The company has made adjustments to its investment portfolio by expediting new investments, and cutting down on unnecessary spending.

In the latter half of this year, the company has investment plans in the Eastern Economic Corridor (EEC) and with startup businesses of 200 billion baht, as well as investments in Map Ta Phut industrial park and Laem Chabang port in Q4, 2019 with a 30 billion baht gross investment budget.

The company wants to make long-term investments in newer, more environmentally friendly projects such as Smart City, clean energy, and battery development for 10 years.

It is expected that oil prices in the latter half of 2019 will be between 65-68 USD per barrel.

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Business

16 countries agree to conclude RCEP talks by end of this month

The final round of RCEP talks in Danang, Vietnam, is scheduled from September 19 to September 27 for senior officials to prepare various agenda pertaining to goods, services and investments

National News Bureau of Thailand

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BANGKOK, 9 September 2019(NNT)-The 51st ASEAN Economic Ministers Meeting has agreed that the final round of the Regional Comprehensive Economic Partnership (RCEP) talks in Vietnam should reach their conclusion by the end of this month.

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Business

Thailand to Produce 2.5 Million Vehicles in 2030

Today there are about 15 million vehicles in Thailand and the Energy Ministry expects to see 1.2 million BEVs and plug-in hybrid electric vehicles within 2036.

Boris Sullivan

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The Thailand Automotive Institute expects the country will produce 2.5 million vehicles in 2030 and about 200,000 of them will be battery electric vehicles (BEVs).

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Ministry of Commerce pushes for exports to offset trade war aftermath

The Board of Trade of Thailand’s Chairman has proposed temporary border trading points be upgraded to permanent ones and more centers for the distribution of SME goods be opened

National News Bureau of Thailand

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BANGKOK, 12th August 2019 (NNT) – The Board of Trade of Thailand is working with the Ministry of Commerce to add value to the wide range of Thai goods for export, in reaction to the trade war between the United States and China.

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