Business
Political uncertainty weighs on Thailand’s consumer confidence
Thailand’s consumer confidence index (CCI) for the month of April sank to its lowest level in 16 months, dragged down by mostly by political uncertainty
Thailand’s consumer confidence index (CCI) for the month of April plunged to 79.2 points – the lowest in 16 months.
Mr. Thanawat Pholvichai, director of the economic and business forecast centre at the University of Thai Chambers of Commerce (UTCC), said that Thai consumers were worried about several ongoing issues.
Those issues include concerns over political uncertainty, slow domestic economic recovery and the global economic slowdown.
Political uncertainty and falling farm product prices
The price reductions of numerous farm products, domestic political uncertainty, plus concern over the Brexit issue, have all combined to have an effect on the consumer confidence, said Thanawat.
However, he pointed out that the most significant negative factor for the month of April was the Fiscal Policy Office’s downward adjustment of Thailand’s 2019 growth rate projection to 3.8% from 4% and the export growth forecast from 4.5% to 3.4%.
The UTCC’s economic and business forecast centre based its report on a survey of 2,242 consumers nationwide.
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.
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.
Business
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.
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.
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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