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Bank of Thailand worried by potential shift of investment

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The Bank of Thailand BoT expressed concerns over the investment climate in Thailand after the recent protests of the anti-government United Front of Democracy Against Dictatorship UDD and the following riots took place. BoTs Senior Director, Suchart Sakkarnkosol disclosed on Monday that the BoT had dispatched BoT officers to collect data from domestic and international entrepreneurs whose businesses were affected by the rally and the riots.

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He stated the obvious impact might not show in the short run but tended to influence Thai businesses in the long run. Foreign investors might shift their investment interests to Thailands neighboring countries such as Indonesia and Vietnam, while domestic investors might postpone their investment decision due to the lack of confidence.

via BoT disturbed by potential shift of investment

Despite lingering political crises, foreign investors still show confidence in Thailand’s potential growth.

BoI indicated that the ongoing political crisis had not yet be affected the investment, but if political tensions were resolved, it would contribute positively to the investment atmosphere.

Businesses for which investors seek promotional privileges with the highest investment value include service and public utility with 115 projects and investment value of Bt77 billion; vehicles, machinery and metals with 85 projects and value of Bt20 billion; processed agricultural products and  foods with 68 projects and a value of Bt17 billion; and electronic products with 63 projects and a value of Bt9 billion.

She said foreign direct investment (FDI) projects seeking investment promotions in the first four months of this year had the investment value of Bt53 billion, up 140 per cent from Bt22 billion in the corresponding period last year.

Mrs Atchaka attributed the increased FDI to the global economic recovery and more foreign investor confidence in Thailand.

Japanese investors remain the most active applicants with an investment value of Bt26 billion.

Economics

Thai fruit exports to FTA markets up 107 percent

China, Malaysia, Singapore, Indonesia, the Philippines, Hong Kong, Australia and Chile are top importers of Thai fruits, especially fresh durian, mangosteen, longan and mango. Thai exporters are able to benefit from FTA privileges.

National News Bureau of Thailand

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BANGKOK (NNT) – Thailand’s fruit exports continue to increase, despite the sluggish global economy caused by the COVID-19 pandemic, with key trade partners being countries that have free trade agreements (FTAs) with the kingdom.

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Economics

The Future of Asia: greener but with a public and private debt hangover

The COVID-19 pandemic has been a perfect storm, destroying jobs, worsening poverty and inequality, and creating a public and private debt problem—especially for countries and firms already in fragile financial health beforehand

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The Sydney Opera resumed live performances and the city of Melbourne recently hosted the Australian Open tennis tournament with fans (mostly) in attendance.

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Economics

50:50 campaign may not get immediate extension

National News Bureau of Thailand

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BANGKOK (NNT) – The government’s 50:50 co-pay campaign expiring on 31st March may not be getting an immediate campaign extension. The Minister of Finance says campaign evaluation is needed to improve future campaigns.

The Minister of Finance Arkhom Termpittayapaisith today announced the government may not be able to reach a conclusion on the extension of the 50:50 co-pay campaign in time for the current 31st March campaign end date, as evaluations are needed to better improve the campaign.

Originally introduced last year, the 50:50 campaign is a financial aid campaign for people impacted by the COVID-19 pandemic, in which the government subsidizes up to half the price of purchases at participating stores, with a daily cap on the subsidy amount of 150 baht, and a 3,500 baht per person subsidy limit over the entire campaign.

The campaign has already been extended once, with the current end date set for 31st March.

The Finance Minister said that payout campaigns for the general public are still valid in this period, allowing time for the 50:50 campaign to be assessed, and to address reports of fraud at some participating stores.

The Fiscal Police Office Director General and the Ministry of Finance Spokesperson Kulaya Tantitemit, said today that a bigger quota could be offered in Phase 3 of the 50:50 campaign beyond the 15 million people enrolled in the first two phases, while existing participants will need to confirm their identity if they want to participate in Phase 3, without the need to fill out the registration form.

Mrs Kulaya said the campaign will still be funded by emergency loan credit allocated for pandemic compensation, which still has about 200 billion baht available as of today.

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