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NCPO terminated as new cabinet meet today

The National Council for Peace and Order was terminated today. Gen Prayut yesterday delivered a speech via the TV Pool of Thailand to thank all sectors for their cooperation over the last five years.

National News Bureau of Thailand

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New cabinet to meet today

BANGKOK (NNT) – Prime Minister Gen Prayut Chan-o-cha today called a meeting of his new cabinet immediately after the swearing-in ceremony.

The National Council for Peace and Order was terminated today. Gen Prayut yesterday delivered a speech via the TV Pool of Thailand to thank all sectors for their cooperation over the last five years.

The prime minister and NCPO chairman cited the royal appointments of him as prime minister and of his cabinet ministers as the first government following the March 24 election.

However, the new government is yet to attend a policy debate in parliament before it begins work.

Upon today’s swearing-in ceremony for the new government before His Majesty the King, the old one and the NCPO are terminated.

As head of the NCPO and the former government, Gen Prayut thanked the people, public and private sectors for their cooperation with the NCPO and government in measures to solve social and economic problems.

He said Thailand is now under democratic rule with a constitutional monarchy and the House of Representatives.

The premier confirmed that a cabinet meeting immediately followed today’s audience with His Majesty the King for the swearing-in ceremony.

The meeting was designed for cabinet ministers to learn of protocols and government policy matters. He said the new government is carrying out the tasks of the old one.

Meanwhile, the PM commented that the policy statement to be delivered and debated in parliament on July 25 is not a censure debate.

It remains to be seen how many days it may take for legislators to debate the government’s policy statement, pending consideration in parliament. The premier said he supports amendments to the constitution, some sections of which might be controversial.

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Health

200,000 doses of COVID-19 vaccine Distributed to 13 Thai provinces

Health authorities are now expected to give the first injection of this COVID-19 vaccine on 1st March, with a subcommittee now working on the priority system which will determine who gets the vaccine first.

National News Bureau of Thailand

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BANGKOK (NNT) – The first 200,000 doses of COVID-19 vaccine which arrived in Thailand today will be distributed to 13 provinces, with frontline health workers and those at higher risk, being the first to receive the vaccine.

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Banking

Can the Subscription Economy Save Financial Services?

Going back to the pre-Covid “normal” is not an option for financial services. Fortunately, the rise of the subscription economy points towards frontiers of untapped growth for the sector.

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As the world waits for mass vaccination to revive economic activity, general malaise has overtaken the financial services industry (FSI). And things will probably worsen before they get better: US banks are expected to suffer US$318 billion in net loan losses by the end of 2022, according to Deloitte.

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Economics

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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