PTT Group’s consolidation is set to be delayed until the Supreme Administrative Court rules on the fate of 76 industrial projects in Map Ta Phut and nearby areas that have been suspended.
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PTT consolidation on hold until Map Ta Phut ruling
Recent Trade Reforms in Thailand
A steep fall in exports caused by the global trade slump drove down industrial production and investment in the frst half of 2009. Business and consumer sentiment was further undermined by political tensions. Although there were signs the worst had passed by midyear, the economy is expected to contract by more than was projected in March. Modest growth is seen resuming in 2010. The tempo of recovery will depend in large part on the Government fully implementing two fscal packages, including a new public investment program. Those plans would be at risk if political disruptions recur. The consumer price index is now forecast to decline this year, before low-level infation returns next year.
Thailand’s economic growth over the last three decades has been fueled and accompanied by rapid industrialization, urbanization, and by intensified agricultural production and fishing. This growth, which has relied extensively on the country’s abundant and diverse natural resources, has degraded land and water quality, caused the loss of natural habitats, and generated increasing levels of air and water pollution. In response, the Government and people of Thailand have launched new initiatives to improve air and water quality, reforest degraded land, adopt energy efficient technologies and invest in pollution abatement schemes.
Thailand continues to reduce import tariff rates for various products.
These include both universal tariff reductions, which are applicable to goods from all countries, and specific tariff reductions that result from free trade agreements (FTAs) with other countries and regions. For example, since June 2008, a wide range of agricultural and manufactured products from ASEAN member countries, China, India, and New Zealand enjoy lower or no tariffs. Among others, they are butter, vegetable extracts and fats, pharmaceutical products, paper and tubes for a medical use, pumps for liquid, air and vacuum pumps, commercial trucks, steel tubes, iron wires, aluminum structures, dish washing machines, weighting machines, and switching circuits and boards parts. In addition, the government will also cut or cancel tariffs for three types of animal feeds (soybean, corn, and fish meals) in 2009. The magnitude of changes varies across different trade agreements, such as those with the WTO, ASEAN, ACMECS28, Japan, Australia, and New Zealand.
Infrastructure plays a crucial role in economic development and enrichment of living standards. Various stages of economic development require different levels of infrastructure upgrades or enhancements to ensure infrastructure in fact facilitates economic activities. Thailand has been facing a series of infrastructure challenges, both new and well-established. To name a few: there is a need for infrastructure services to catch up with economic development and international competition, manage the growth in urban areas, respond to global energy prices, and ensure basic services for the poor.