FPO upgrades 2020 GDP decline to 7.7%

FPO upgrades 2020 GDP decline to 7.7%

FPO upgrades 2020 GDP decline to 7.7% GDP contraction is projected to be less severe than previously estimated based on a recovery among Thailand’s Asian trading partners, without factoring in domestic political turbulence, says the Fiscal Policy Office (FPO). The FPO’s latest economic forecast upgrades GDP contraction this year to 7.7% from a 8.2% decline…

Approval sought for multi-billion-baht Phuket medical hub

Approval sought for multi-billion-baht Phuket medical hub Industry officials are seeking the go-ahead for a project to transform over 140 rai of government land in Phuket into a world-leading medical hub. The project is budgeted at 3 – 4 billion baht, depending on which report you read. Kitkong Tantijaraswarodom, from the Federation of Thai Industries, believes…

Pandemic, 5G drive up gaming interest

Pandemic, 5G drive up gaming interest The pandemic and 5G roll-out are expected to drive up the number of gamers in Thailand, though economic woes still weigh on their spending per person, says one of the promoters of Thailand Game Show 2020, scheduled for next month. “The pandemic ushers in positive aspects and challenges in…

The future of digital TV in Thailand

Thais, Russians aim for US$10bn in trade by 2023

Thais, Russians aim for US$10bn in trade by 2023 Thailand and Russia have agreed to raise bilateral trade to US$10 billion in 2023, in part to help reboot the economy after the Covid-19 outbreak. Speaking after Thursday’s video conference with Vladimir Ilichev, Russia’s deputy minister of the Economic Development Ministry, during the fourth meeting of…

Huawei: ICT to form 30% of GDP by 2030

Huawei: ICT to form 30% of GDP by 2030 The ICT sector is expected to contribute 30% to Thai GDP by 2030, up from 10% at present, thanks to 5G ecosystem development led by network deployment and the government’s digital economy policy, says Chinese tech giant Huawei. The company believes that Thailand could become a…

Thailand warms to China’s ventures

Thailand warms to China’s ventures The Chinese government is ready to enable an expansion of investments in Thailand and connect its Guangdong-Hong Kong-Macau Greater Bay Area (GBA) with the Thai government’s flagship Eastern Economic Corridor (EEC), Chinese Foreign Minister Wang Yi pledged on Thursday. The GBA is a megalopolis, also known as the Pearl River…

Thai Beverage begins B1bn expansion

Thai Beverage begins B1bn expansion Thai Beverage, the Singapore-listed Asean food and beverage company, is expanding its food business in the domestic market, vowing to splash about 1 billion baht on its food empire in fiscal 2021, starting from Oct 1. Nongnuch Buranasetkul, the company’s senior vice-president and chief of food business, said the company…

The Thai Life Assurance Association (TLAA) has requested the Office of the Insurance Commission (OIC) study the feasibility of allowing insurers to invest in a wider range of funds and bonds to take advantage of the low-interest-rate environment.

TLAA wants OIC to widen insurers’ investment options

TLAA wants OIC to widen insurers’ investment options The Thai Life Assurance Association (TLAA) has requested the Office of the Insurance Commission (OIC) study the feasibility of allowing insurers to invest in a wider range of funds and bonds to take advantage of the low-interest-rate environment. The move would green-light investment in infrastructure bonds, non-listed…