“The impact of the Map Ta Phut fiasco could be more severe to Thailand than the sub-prime crisis,” senior executive vice president Arthid Nanthawithaya said in an interview. These were the thoughts last week of some of the top executives at Siam Commercial Bank (SCB).
“Despite a limited impact from the loans extended to the companies involved, a huge weight hangs in potential investors' minds. If this fiasco is not ended peacefully, the investment climate will be affected severely.”
SCB has extended credit lines of Bt50 billion to the 76 industrial projects in question. The main borrowers are PTT, the Siam Cement Group and their subsidiaries. All Thai banks' combined credit line to the projects is estimated at Bt170 billion.
Climate Change Could Force 49 Million People to Migrate in East Asia and the Pacific
Out-migration hotspots in agricultural areas of central Thailand and Myanmar coincide with areas expected to see declines in both water availability and crop productivity
The World Bank’s updated Groundswell report released today finds that climate change, an increasingly potent driver of migration, could force 216 million people across six world regions to move within their countries by 2050.(more…)
Thailand BOI Approves Measures to Support Carbon Reduction
greenhouse gas emission as well as an enhanced scheme for electric vehicles and measures to mitigate Covid-19 impacts and support local vaccine development
The Thailand Board of Investment (BOI) approved incentives to encourage companies to reduce greenhouse gas emission as well as an enhanced scheme for electric vehicles and measures to mitigate Covid-19 impacts and support local vaccine development, Ms Duangjai Asawachintachit, Secretary General of the BOI, announced today.(more…)
Thailand welcomes first Finnair flight from Stockholm to Phuket
Bangkok, 25 October, 2021 – The Tourism Authority of Thailand (TAT) today welcomed the start of Finnair’s latest direct non-stop...
More COVID-19 restrictions are relaxed in Thailand from 16 October 2021
Bangkok, 16 October, 2021 – The Tourism Authority of Thailand (TAT) would like to provide an update that more COVID-19...
China’s economy stumbles on power crunch
BEIJING (Reuters) – China’s economy hit its slowest pace of growth in a year in the third quarter, hurt by power shortages, supply chain bottlenecks...
Quarantine-Free Thailand Reopens for Vaccinated Tourists From 1 November 2021
The Tourism Authority of Thailand (TAT) would like to confirm that Thailand is all set to welcome fully vaccinated foreign...
The ASEAN-India Trade in Goods Agreement
The ASEAN-India Trade in Goods Agreement (the “Agreement”) is a trade deal between the ten member states of ASEAN and...