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Thai Consumer confidence highest in five months

The government’s measures to stimulate the economy, relax Covid restrictions and keep the diesel price from exceeding 30 baht per liter have positively influenced the consumer confidence index for October 2021, which stands at the highest level in 5 months.

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BANGKOK (NNT) – The government’s measures to stimulate the economy, relax Covid restrictions and keep the diesel price from exceeding 30 baht per liter have positively influenced the consumer confidence index for October 2021, which stands at the highest level in 5 months.

University of the Thai Chamber of Commerce President Thanavath Phonvichai explained that consumer and business confidence were now improving because of higher numbers of foreign tourists and the relaxation of restrictions on various businesses, especially those to do with nightlife. Said relaxation will benefit night markets and vehicles for hire.

Year-end celebrations are expected to usher in more spending by consumers, while the government’s latest measures to stimulate the economy – notably, the 100 billion baht of money that would circulate because of the Co-pay program – and economic effects of the local administrative organization election were all positive factors that would enable the economy to expand by 4% in the final quarter of 2021.

Asst. Prof. Thanavath said the whole year’s economic growth was being maintained at 1-1.5%. He added that the government should push for the economy to expand by no less than 5% in 2022, and government measures to stimulate the economy will remain necessary. He suggested that no less than 500 billion baht will be needed for stimulating the economy in the first half of 2022, adding that no additional borrowings will be needed by the government if the target of receiving 10 million foreign tourists is realized and exports are able to expand by 7-10%.

Information and Source
Reporter : Namo Vananupong
Rewriter : Tarin Angskul
National News Bureau & Public Relations : http://thainews.prd.go.th

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Economics

Thailand’s Ministry of Finance expects 3.5 to 4.5% economic growth in 2022

For next year, the Ministry of Finance is projecting an economic growth of 3.5-4.5% from effective pandemic control measures, incentives, domestic spending, the export sector, private investment support, global economic recovery, and government expenditures.

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The Minister of Finance says Thailand’s economy this year would see only a 1.1-1.2% growth

BANGKOK (NNT) – The Ministry of Finance is now projecting an economic rebound to 4.5% growth next year, with government investments serving as key drivers. The Minister of Finance says the government will focus more on inclusive growth next year, with no sectors left behind.

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Ecommerce

Pakorn Peetathawatchai, President, The Stock Exchange of Thailand (SET)

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Pakorn Peetathawatchai, President, The Stock Exchange of Thailand (SET)

What measures has SET taken to support listed companies’ compliance with ESG standards?
PAKORN PEETATHAWATCHAI:

PAKORN: When we first began promoting ESG-compliant investments, we were met with little interest. We attributed this to a lack of clear data to showcase the economic benefits of ESG investment, and perhaps limited clarity as to what constitutes a sustainable or ESG-compliant investment. The launch of the THSI list and, subsequently, the SETTHSI Index, was designed to address this. Our most recent data, comparing returns for the SETTHSI Index with the broader SET and SET100 indices from April 2020 to April 2021, underscores the economic benefits of these investments: the group compliant with ESG standards outperformed the other two indices on every data point. 

As of May 2021 Thailand was home to CG and ESG assets under management totalling BT54.8bn ($1.7bn) across 50 funds – up from 23 funds in 2019. Meanwhile, of the BT187.1bn ($5.9bn) raised in green, social and sustainability bonds since 2018, BT136.4bn ($4.3bn) was raised in 2020 – 83% from the government and the remainder from development banks and private players. This rising demand, in a move to manage risk and generate returns, has been complemented by growing supply and promotion: supply from ESG-compliant businesses aiming for resiliency and sustainable growth, as well as promotion from regulators highlighting investment opportunities with good CG and SD practices. Indeed, the pandemic has been a catalyst in shifting the view of ESG compliance from a luxury to a requirement in the new normal.

In what ways can enhanced standard-setting and regulatory mechanisms overcome the remaining barriers to improved ESG performance?

PAKORN: A multi-stakeholder approach is crucial for enhanced ESG performance – not only in Thailand, but around much of the globe. This can also help to address the standout incumbent challenge: access to reliable, wide-ranging ESG data. For example, the 2020 update to the 56-1 One Report established clear ESG standards and triggered online and offline capacity-building programmes to support listed firms’ compliance. SET is developing an ESG data platform with a structured template to promote the availability of comparable data, maximise value added from corporate sustainability disclosures, and foster collaboration between the business value chain and stakeholders. This is expected to support Thai companies along their ESG journey in an economically sustainable way, result in a greater number of sustainability-focused products and services, drive sustainable investing in the Thai investment community and ultimately “make the capital market work for everyone”, as outlined in the SET’s vision.
 

 

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