NNT

Wednesday, 09 October 2013 14:32

PM Yingluck meets Australian counterpart

BANGKOK, 8 October 2013  – Prime Minister Yingluck Shinawatra, during her visit to Indonesia, has met with her Australian counterpart Tony Abbott, who has recently been elected as Prime Minister of Australia. 

BUNG KAN, 9 October 2013 – While the downpours over the upper part of the southern region and the eastern region are forecast to reduce in intensity, the Meteorological Department is cautioning people in Ranong, Phang-nga and Phuket to brace for heavy raining. 

The high pressure from China continues to extend to upper Thailand, leading to cool weather in the morning in the North and the Northeast. The weak monsoon trough prevails across the upper South and the East, while the strong southwest monsoon prevails over the Andaman Sea. Decreasing rain is likely in the lower Central, the East and the South. Wind-generated waves up to 2 meters in height are expected in the Andaman Sea. All ships should proceed with caution. The active low pressure over the upper Andaman Sea, which presently covers the Bay of Bengal is expected to move to India.

TAK, 7 October 2013 - The Customs Office in Tak province has reported that border trade between Thailand and Myanmar via the Mae Sot-Myawaddy border crossing was worth a total of 44 billion baht in the 2013 fiscal year.

The office said the value of Thai-Myanmar border trade between October 2012 and September 2013 soared to 44 billion baht, up 25 percent year-on-year from 35 billion baht. It is forecasted to jump to 50 billion baht in the 2014 fiscal year.

Factors contributing to the rise in trade figures include Myanmar’s opening to the world, improved transport links and relaxation of trade regulations.

The office noted that both parties have expressed support for increased border trade ahead of the formation of the ASEAN Economic Community.

The Thai government is planning to establish special economic zones in Mae Sot district of Tak and Mae Sai district of Chiang Rai in a bid to further accelerate trade with Myanmar.

Tuesday, 08 October 2013 13:40

World Bank cuts Thai growth forecast to 4%

BANGKOK, 7 October 2013 - The World Bank has decreased Thailand’s GDP forecast from 4.5% to 4%, citing the Chinese economic slowdown and the U.S.’s fragile recovery.

Senior economist of the World Bank, Thailand Office, Kirida Bhaopichitr said the economic growth rate of middle-income countries, including Indonesia, Malaysia and Thailand, had slowed down due to lower investment, decreasing global commodity prices as well as below-target export growth.

The World Bank therefore cut the GDP growth forecast of developing countries in South East Asia to 7.1% this year and 7.2% next year. The bank adjusted down the Thai growth projection from 4.5% to 4% but it was still higher than forecasts by other agencies. Ms Kirida revealed that the bank believed Thai exports would recover in the second half of the year in line with the world economy.

The World Bank noted that delays in investment by the public sector, especially in the two-trillion-baht infrastructure mega projects and the 350-billion-baht water management program, might affect Thailand’s economic growth next year and the overall economy in the long run.

NONGKHAI, 8 October 2013  – Around 10,000 members of the public in Nong Khai visited the government's roadshow on the 2 trillion baht infrastructure investment daily over the 3 days period it was held. 

BANGKOK, 8 October 2013 – As much as 700 billion baht is slated to be injected into the economy in the 4th quarter of 2013 due to accelerated spending by government agencies, according to the Comptroller General's Department. 

BANGKOK, 8 Oct 2013  - More than 31 investment projects won approvals for promotional privileges from the Board of Investment (BOI) at the latter’s meeting on Monday, chaired by Deputy Prime Minister and Finance Minister Kittiratt Na Ranong.

Speaking after the meeting, Industry Minister Prasert Boonchaisuk said the projects, worth more than 152 billion baht, involve 3 groups of industries. Of the total investment, 58 billion baht will be invested in the auto industry, 55 billion baht in the energy sector and 37 billion baht in other industries.

The meeting also considered a reduction in the number of business types being promoted by the BOI from 57 to 13. The adjustment was made in line with the Government’s shift in its strategy to focus more on the agricultural sector.

Mr. Prasert also said the BOI would later consider measures to help Small and Medium Enterprise (SME) operators. According to him, the BOI needs to carefully formulate suitable solutions as risks loom from the current world's economic situation.

BANGKOK, 8 Oct 2013 - Energy Minister Pongsak Raktapongpaisarn plans to readjust details of his ministry's solar power purchase from household and industrial sectors.

Mr. Pongsak said that the Energy Ministry would propose the plan to the Energy Policy and Planning Office (EPPO) for consideration. The readjustment would extend the registration deadline and increasing energy purchase limits from the industrial sector.

Earlier the ministry set the limit of energy purchase from the Solar PV Rooftop program at 200 megawatts, divided into 100 each from households and industries respectively.

The deadline for the scheme's registration on the part of households has been extended from October 11, as only a few individuals show interests in the program. On the opposite end, numerous entrepreneurs embrace the scheme, already registering to produce more than 500 megawatts of electricity, prompting the authorities to extend the purchase limit for the industrial sector.

The details of the adjustments have yet to be finalized.

The Ministry also proposed the EPPO to use the Feed-in Traffic system in calculating electricity prices purchased from the Solar PV Rooftop program.

BANGKOK, 7 Oct 2013 - According to the Bank for Agriculture and Agricultural Cooperatives (BAAC), the Finance Ministry would finalize on the funding for the current season's rice mortgaging scheme within the middle of this month. 

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