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Asean leaders are meeting at Hua Hin, Thailand

Asean leaders are meeting in their annual summit at Hua Hin, Thailand. The followings are Asean storeis run in the Nation online and newspaper.

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Asean leaders are meeting in their annual summit at Hua Hin, Thailand. The followings are Asean stories run in the Nation online and newspaper.

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Thailand business outlook

Infrastructure services, if quickly improved, could promote a better investment climate in Thailand. Logistic costs, for example, are reported by firms to be higher for them in 2007 compared to 2004. This is particularly true for industries that are located in regions other than Bangkok and vicinity or the East where the major markets and ports are located. They include the food processing and furniture industries. A partial explanation for the higher logistic cost was the sharp rise in diesel prices from 2004 to 2007. However, another important explanation is the increased congestion of roads and ports which added to the transport time and costs. The quality of public utility services (electricity, water, and telephone) have also declined from 2004 to 2007 as the period of service interruptions have risen. This is a reflection of the inadequacy of infrastructure services as demand from businesses have increased rapidly over the years. These service interruptions are costly for firms and will hurt Thailand’s competitiveness as other countries in the region such as China and Vietnam are quickly improving them.
Infrastructure services, if quickly improved, could promote a better investment climate in Thailand
Import tariffs on machinery are waived for regional operating headquarters. The Board of Investment cancels import tariffs on machinery used in conducting research and development activities by regional operating headquarters (ROHs). This is in addition to the existing privileges such as a permission to own land and remit foreign currency abroad as well as preferential corporate and income tax rates. Looking forward, related agencies such as the Revenue Department, the Bank of Thailand, and the Department of Business Development plan to streamline other rules and regulations that help to promote ROHs in Thailand.

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Latest Covid-19 News in Southeast Asia

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Coronavirus disease 2019 (COVID-19) WHO Thailand Situation Report - 22 February 2021

Singapore remains far and away the most vaccinated country in Southeast Asia, with nearly 30 percent of residents having received both doses. But the city-state has also seen an aggressive rise in local cases in recent weeks.

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Climate change raises asset risks for banks in Asia-Pacific

Climate change and related government policies raise asset risks for banks in Asia-Pacific, while legal and reputational risks are growing while large, diversified banks in the region are better able to cope with these risks and preserve their credit strength

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Climate change and related government policies expose Asia-Pacific banks to physical climate risks, as well as risks that stem from sudden changes in asset values as economic priorities shift, according to Moody’s Investors Service in a new report.

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