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Thai Government waives tax for venture capital firms; sets up 500-million Baht fund for start-ups

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In continuation of the Thai government’s efforts at promoting the country’s digital economy, the Thai government has recently announced the waiving of dividend and income taxes for VC firms for up to 10 years, to encourage investments into businesses and start-ups operating within the 10 supported industries, according to a report published by Thairath on May 5th, 2016.

This tax break will also apply to individuals who contribute to the partnered VC funds, and will be eligible for new businesses and start-ups established between the 1st of October to the 31st of December this year, said Deputy Minister of Finance Wisuth Srisuphan.   

Furthermore, the Ministry of Science and Technology – in partnership with various venture capital firms – has recently agreed to the establishment of a 500-million baht ‘fund-of-funds’ aimed at investing in tech start-ups operating within the supported industries.

The government’s list of supported industries include: next-generation cars, smart-electronics; affluent, medical and wellness tourism; agriculture and biotechnology; food; robotics for industry; logistics and aviation; biofuels and biochemicals; digital; and medical services. (Source: “Tax Break for Start-up Funds” – Bangkok Post,…

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Techsauce is the partnership of two titans in the Thai technology startup industry between Thumbsup, the leading technology media in Thailand and HUBBA, the biggest coworking space network in Thailand.

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Myanmar

Digital Revolution and Repression in Myanmar and Thailand

Activists have also proactively published social media content in multiple languages using the hashtags #WhatsHappeningInMyanmar and #WhatsHappeningInThailand to boost coverage of events on the ground.

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By Karen Lee

Following the February 1 coup, Myanmar’s netizens became the latest to join the #MilkTeaAlliance, an online collective of pro-democracy youth across Asia.

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Ecommerce

How will oil prices shape the Covid-19 recovery in emerging markets?

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How will oil prices shape the Covid-19 recovery in emerging markets?

– After falling significantly in 2020, oil prices have returned to pre-pandemic levels
– The rise has been driven by OPEC+ production cuts and an improving economic climate
– Higher prices are likely to support a rebound in oil-producing emerging markets
– Further virus outbreaks or increased production would pose challenges to price stability

A combination of continued production cuts and an increase in economic activity has prompted oil prices to return to pre-pandemic levels – a factor that will be crucial to the recovery of major oil-producing countries in the Middle East and Africa.

Brent crude prices rose above $60 a barrel in early February, the first time they had exceeded pre-Covid-19 values. They have since continued to rise, going above $66 a barrel on February 24.

The ongoing increase in oil prices, which have soared by 75% since November and around 26% since the beginning of the year, marks a dramatic change from last year.

Following the closure of many national borders and the implementation of travel-related restrictions to stop the spread of the virus, demand for oil slumped globally.

In the wake of the Saudi-Russia price war in early 2020, Brent crude prices fell from around $60 a barrel in February that year to two-decade lows of $20 a barrel in late April, as supply increased and demand plummeted. The value of WTI crude – the main benchmark for oil in the US – fell to record lows of around $40 a barrel last year on the back of a lack of storage space.

While global demand for oil remains low, one factor credited with reversing the trend is the decision to make significant cuts to oil production, which subsequently tightened global supplies.

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