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.
Alibaba Initiates $3Bln Partnership with Thai Gov in Support of Thailand 4.0
This is probably the first major milestone for Thailand 4.0 economic plan to upgrade Thai economy : a major commitment of a big private investor
Bangkok retains Leading Mastercard Travel Destination Title for 2017
Travel and tourism in Asia Pacific is showing no signs of slowing down, with the region dominating visitor arrivals once again, according to the Mastercard Global Destinations Cities Index 2017
Thai GDP growth exceeds expectation in Q2/2017
EIC revised Thailand’s GDP growth forecast upward to 3.6% from 3.4% as the global economic outlook improved, supporting exports to continue recovering in the remaining time of this year.
According to the National Economic and Social Development Board (NESDB), Thailand’s GDP in Q2/2017 rose 3.7%YOY (compared to the same quarter last year), or 1.3% when seasonally adjusted and compared to the previous quarter. (more…)
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