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Thailand to Cope with Impacts from Volatility in Financial Markets

Prime Minister Yingluck Shinawatra urged the people to remain confident in the sound foundation of the Thai economy, saying that impacts from volatility in the world economy might have panicked local investors

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Thailand is in a good state of development on ETFs

Prime Minister Yingluck Shinawatra said that the Government is making efforts to cope with impacts from volatility in global financial markets.

Speaking after the weekly Cabinet meeting, the Prime Minister revealed that the meeting had discussed concerns over the European debt crisis, which was leading to tumbling Asian markets.

She urged the people to remain confident in the sound foundation of the Thai economy, saying that impacts from volatility in the world economy might have panicked local investors. However, she said, all relevant agencies had been instructed to urgently restore confidence among investors.

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Prime Minister Yingluck Shinawatra urged the people to remain confident in the sound foundation of the Thai economy, saying that impacts from volatility in the world economy might have panicked local investors

The Prime Minister called on members of the media to help boost confidence in the Thai economy. As for the Government, she said that emphasis would be placed on generating more household income and strengthening the domestic economy.

Regarding a call by the private sector for the Government to review its populist policies, Prime Minister Yingluck said that all policies implemented by the Government were aimed at stimulating the country’s economy.

Moreover, the Government will accelerate infrastructure investment in order to generate employment. At the same time, it has still maintained fiscal discipline, putting in place an efficient fiscal risk management system.

Commenting on the European debt crisis, Deputy Prime Minister and Commerce Minister Kittiratt Na-Ranong said that the problem had continued some time and the Europeans would have to solve their problem. Thailand and other Asian countries have adjusted to the situation, so they felt only slight impacts.

Mr. Kittiratt stated that Thailand should focus on its local economy and not heavily rely on exports. Europe is one of Thailand’s major markets. To cushion impacts, Thailand should pay greater attention to export diversification in order to lessen the degree of export dependence on traditional markets.

Meanwhile, Governor of the Bank of Thailand Prasarn Trairatvorakul said that the Bank of Thailand was closely monitoring the volatility in the global financial markets. The recent sell-off by foreign investors in the Thai stock market was not worrisome, when compared with the flow-in capital. The Bank of Thailand was ready to cope with the situation, if the sell-off led to volatility in the baht. He believed that the sell-off would be in a short term because of worries about the euro-zone debt crisis.

Mr. Prasarn said that the Bangkok of Thailand is prepared to allow Thai investors to take more money out of the country in order to invest overseas. It will also conduct a study on a master plan concerning capital mobility to cope with flow-in capital in the long run and to prevent it from putting pressure on the baht and asset prices in Thailand.

via Inside Thailand — Thailand Making Efforts to Cope with Impacts from Volatility in Global Financial Markets.

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BoI plans more efforts to promote BCG economy

National News Bureau of Thailand

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BANGKOK (NNT) – The Board of Investment (BoI) is working with related agencies to rev up promotion of the bio-, circular and green (BCG) economy to help drive growth over the next 5 years.

BoI Secretary-General Duangjai Asawachintachit said the BoI is looking into more business categories for high technology as part of efforts to promote the BCG economy.

She said the government is focused on developing the bio-economy as Thailand has more than 30 million people working in the farm sector, yet most of them remain in poverty.

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Ecommerce

Will Covid-19 unleash a new generation of digital nomads?

Oxford Business Group

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Will Covid-19 unleash a new generation of digital nomads?

– Covid-19 has facilitated the widespread adoption of remote working
– Despite travel restrictions, countries are seeking to attract digital nomads
– Dubai and Mexico have emerged as key destinations for foreign remote workers
– As travel resumes, many anticipate a new wave of roaming digital nomads

With Covid-19 facilitating the widespread adoption of remote working practices, some emerging markets are seeking to attract digital nomads through a series of incentives and special visas.

Despite border closures and travel restrictions resulting from the virus, various countries are stepping up efforts to incentivise the movement of so-called digital nomads – people who work remotely and relocate relatively freely.

For example, in October the Dubai government launched its virtual working programme, an initiative that gives foreign professionals the opportunity to move to the emirate and continue to work remotely in their current jobs.

The one-year programme, launched after Dubai reopened its borders to international tourists in July last year, is designed is attract professionals, entrepreneurs and those working in start-ups.

Given its strong ICT infrastructure and healthy start-up scene, Dubai has been seen as an increasingly attractive option for digital nomads in recent years, with officials marketing the emirate as a place where people can live and work by the beach.

As a further incentive, in January officials began offering free vaccines to those on the programme.

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Economics

BoI Plans More Efforts to Promote BCG Economy

National News Bureau of Thailand

Published

on

logomain

BANGKOK (NNT) – The Board of Investment (BoI) is working with related agencies to rev up promotion of the bio-, circular and green (BCG) economy to help drive growth over the next 5 years.

BoI Secretary-General Duangjai Asawachintachit said the BoI is looking into more business categories for high technology as part of efforts to promote the BCG economy.

She said the government is focused on developing the bio-economy as Thailand has more than 30 million people working in the farm sector, yet most of them remain in poverty.

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