Exim Bank assists capital-heavy firms The Export-Import Bank of Thailand (Exim Thailand) vows to offer loans with a special low interest rate and longer grace period to promote Thailand’s future industries. With investments in future industries such as electric vehicles (EVs) requiring relatively hefty capital and posing high risk because of uncertain demand, the bank…
Banks see growth in fees, service income Signs of recovery in the Thai economy and stock market in the first quarter raised equity and mutual fund investment, as well as fee-based income for Thailand’s banking sector. Ten SET-listed commercial banks reported combined fees and service income of 43.4 billion baht in the first quarter this…
Myanmar Imposes Ban on 5 Thai Drinking Products BANGKOK (NNT) – Myanmar has imposed a ban on imports of five Thai drinking products sent by land from Thailand, but will allow imports of these products by sea. Starting from Saturday, the ban applies to soft drinks, fruit juices, ready-to-drink coffee, condensed sweetened milk and fresh milk…
Jabs, rising exports may boost GDP A new state-private vaccination plan and good export prospects may help Thailand secure 1.5-3% GDP growth this year despite economic uncertainties caused by the third wave of Covid-19, says the Thai Chamber of Commerce. Sanan Angubolkul, the chamber chairman, remains optimistic about the Thai economy, believing business activities in…
Finance Ministry Reduces New 2021 Economic Growth Forecast to 2.3% BANGKOK (NNT) – The Finance Ministry has reduced its 2021 economic growth forecast for a second time to 2.3% from 2.8% growth, after a third wave of coronavirus infections struck Thailand this month. Fiscal Policy Office (FPO) Director-General Kulaya Tantitemit said the ministry slashed its…
Time to rethink future growth channels Double whammy of Covid-19 impact and transition into an aged society requires a proactive investment policy and an overhaul of govt bureaucracy The Thai economy faces a spate of challenges with the latest outbreak compounding the difficulty of recovery efforts. Kla Party leader and former finance minister Korn Chatikavanij…
First lot of pre-ordered Thai durian arrives China BANGKOK (NNT) – First lot of pre-ordered Thai durian arrives China. The first lot of pre-ordered Chanthaburi durians has arrived in China and will further be delivered directly to customers without passing a middleman. Advisor to Minister of Agriculture and Cooperatives, Alongkorn Ponlaboot revealed that on April 28,…
Government to Reduce Thai Rice Export Tax BANGKOK (NNT) – The Cabinet has approved in principle the Commerce Ministry’s plan to reduce surcharges for Thai rice exporters on rice shipments under the EU and UK quotas. Deputy government spokeswoman Rachada Dhnadirek said the export surcharge has been reduced to 1,500 baht per ton for grains bound…
Thai economic recovery trails others in Asia – ADB Developing Asia’s economy will rebound faster this year than previously estimated, as nations tread diverging recovery paths, according to the Asian Development Bank. Southeast Asia’s forecast was lowered to 4.4% growth this year amid reduced projections for Malaysia, the Philippines and Thailand. The region’s gross domestic…
Rating agency’s confidence in Thailand pleases PM Prime Minister Prayut Chan-o-cha has welcomed confirmation by the Japan Credit Rating Agency (JCR) that the Thai economy’s outlook is stable despite the economic impact of Covid-19. The JCR announced on Monday that Thailand had been rated as having a stable outlook and said that reflected the country’s…