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Economics

Govt to Make Public Saving Measures Permanent

The finance minister insists the government will proceed with making the cost of living relief package permanent, saying it has the duty to patch up social inqualities. Finance Minister Korn Chatikavanij said the measure with the highest possibility to be permanent is the free third-class train ride as most passengers are low-income people, while the State Railway of Thailand has a fixed cost in this segment of service.

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The finance minister insists the government will proceed with making the cost of living relief package permanent, saying it has the duty to patch up social inqualities. Finance Minister Korn Chatikavanij said the measure with the highest possibility to be permanent is the free third-class train ride as most passengers are low-income people, while the State Railway of Thailand has a fixed cost in this segment of service.

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Govt to Make Public Saving Measures Permanent

The output of other sectors was also affected during the recent crisis, although less markedly because they had been growing slower than the sectors linked to external demand.
Overall, domestic demand should provide a positive but limited contribution to growth: vulnerable households lost ground in 2009 and risks are substantial in 2010, as falling agricultural output due to the current drought may offset opportunities from the improved overall economic environment. Household consumption levels, which are highly correlated with the poverty rate, contracted in 2009 despite the rebound in the last quarter of the year, suggesting a likely increase in the poverty rate compared to 2008, especially when compounded by the loss in purchasing power from the food and fuel crisis of 2008. The outlook for 2010 is uncertain : average wages are likely to increase, thanks to the reallocation of labor from agriculture to manufacturing. Although labor markets appear very tight, with unemployment below 1 %, the data do not account for the large number of workers who moved to lower-productivity jobs in agriculture and informal services due to the crisis. Many of these workers are now returning to manufacturing, which offers higher wages than agriculture.

In Vietnam, households use to held their savings in cash or real estate. With the opening of the stock market, you have seen a tremendous shift of funds into the capital market.
‘‘Institutional investors want to have the ability to get in or out of a stock without significantly influencing the share price.

Despite the failure of the BSE, the concept of an orderly, officially supported securities market in Thailand had by then attracted considerable attention. In this regard, the Second National Economic and Social Development Plan (1967-1971) proposed, for the first time,
a plan for the establishment of such a market, with appropriate facilities and procedures for securities trading.

In 1969, as recommended by the World Bank, the government acquired the services of Professor Sidney M. Robbins from Columbia University to study the development channels of the Thai capital market. Professor Robbins had previously served as Chief Economist at the United States Securities and Exchange Commission. The same year proved an eventful one for the Thai capital market, as the Bank of Thailand also formed a Working Group on Capital Market Development, which was assigned the task of establishing the stock market. A year later, in 1970, Professor Robbins produced a comprehensive report entitled “A Capital Market in Thailand”. This report became the master plan for the future development of the Thai capital market.

Economics

National News Bureau Of Thailand

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BANGKOK (NNT) – The Commerce Ministry has launched measures to increase rice exports to 6 million tons this year, valued at around 150 billion baht, with Indonesia, China, Bangladesh and Iraq set to be the main markets under government-to-government (G2G) deals.

Commerce Minister Jurin Laksanawisit said G2G deals and a campaign to make Thai rice more recognizable around the world will spearhead efforts to increase the export volume from last year’s 5.7 million tons.

He said the ministry is working with the Thai Rice Exporters Association to promote Thai rice under the “Think Rice, Think Thailand” campaign, adding that Thailand successfully made Thai rice become better known in Canada, increasing its exports to the country by 21% to 120,000 tons last year.

Mr Jurin said one of the distinctive characteristics of Thai rice is its very low sugar content. This would make it the preferred choice among Canadians as 28% of the Canadian population has high blood sugar levels.

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Economics

Bangkok Metropolitan Energy Authority (MEA) partners with Chineses owned Newsky Energy (Thailand) Company

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BANGKOK (NNT) – The Metropolitan Energy Authority (MEA) is looking into co-investment opportunities with private firm Newsky Energy Thailand for the construction of two new waste-to-energy power plants in Bangkok, promoting the expansion of alternative energy in the metropolitan area along with environmental protection.

The MEA has signed a Memorandum of Understanding with private firm Newsky Energy Thailand on co-investment arrangements for waste-to-energy power plants in the Nong Khaem and On Nut districts of Bangkok, a project costing about 10 billion baht.

MEA Governor Kirapat Jiamset, said today that each of the waste-to-energy plants will have a generating capacity of 35 megawatts of electricity using 1,000 tons of waste as fuel each day.

Mr Kirapat said the two power plants will be introduced along with the smart grid system, which allows communities in service areas to receive power entirely from these plants, independent of the main power lines.

New Sky Energy Thailand CEO He Ning said the company has been working with the Bangkok Metropolitan Administration to operate a waste-to-energy incinerator at Nong Khaem dump, which converts 500 tons of garbage into electricity each day.

Operating since 2016, Mr Ning said the incinerator has been continuously feeding electricity to the MEA, with systems in place to take care of the environment and nearby communities.

The proposed new waste-to-energy plants are currently in the public consultation process. The construction of these projects is expected to commence later this year, and come online in the electricity grid in 2024.

According to the Department of Business Development, Newsky Energy (Thailand) Company Limited is currently registered as an electric power generation and transmission company in Thailand. The company is 100% owned by Chinese investors and reported a -7.25% net profit in the fiscal year 2019.

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Thailand sets export growth target at 4% for 2021

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BANGKOK (NNT) – Thailand has seen export growth of 0.35 per cent in the first month of the year. The Commerce Minister has ordered the Department of International Trade Promotion to advance an action plan to accelerate growth, which is set at 4 per cent this year.

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