Thailand set to be ‘key logistics hub’ Thailand has the potential to become a key logistics hub in the Greater Mekong Subregion (GMS) through its Eastern Economic Corridor (EEC), a forum was told. “When we work together to fulfill the potential of the EEC, Thailand and the GMS can become a powerhouse across the world,”…
Thai central bank revises down 2021 growth to 3.0% Bank maintains policy rate but provides new $11 billion aid to business Bangkok — The Bank of Thailand revised down its 2021 growth forecast, as the resurgence of COVID-19 in Southeast Asia’s second largest economy over the last few months had led to the closure of…
Are emerging markets missing out on DeFi due to gas fees? Developed economies dominate the traffic rankings for the top DeFi protocols by TVL, with the U.S. and U.K. topping the charts. Despite grand visions of enabling farmers in Vietnam access to the world of global finance via Decentralized Finance, emerging markets could represent as…
SEC introduces infrastructure promoting capital markets’ digital transformation BANGKOK (NNT) – The Securities and Exchange Commission has introduced sandboxed digital infrastructure to support digital transformation of capital markets and the issuance of digital assets by securities companies, all in line with the government’s policy to elevate Thailand’s economy to a truly digital one. The Securities…
Thai Rates Seen on Hold, GDP Forecast Likely Cut: Decision Guide (Bloomberg) — Thailand’s central bank will likely keep its key interest rate unchanged on Wednesday at an all-time low to save limited policy space while also cutting its growth forecast for the year. All 25 economists surveyed by Bloomberg expect the Bank of Thailand…
Slow economic recovery will limit Thai banks’ performance: Fitch Ratings Thai banks’ operating environment remains challenging due to a slow economic recovery and continued downside risks from the fallout of the Covid-19 outbreak, Fitch Ratings said. It will be particularly demanding for vulnerable bank clients, especially small businesses.Still, the risk of a severely stressed macroeconomic…
Government Will Sign MoU on Rice Sale with Indonesia BANGKOK (NNT) – The government will sign a memorandum of understanding (MoU) to sell as much as one million tons of rice a year in a government-to-government (G2G) deal with Indonesia late this month. According to Commerce Minister Jurin Laksanawisit, the MoU signing will be organized…
Economic think-tank says the future of tourism in Thailand hangs on vaccination The research division of Thailand’s Kasikorn Bank says everything hangs on vaccination strategies, both here and abroad. Kevalin Wangpichayasuk from the Kasikorn Research Centre says the rollout of Covid-19 vaccines globally will have a significant impact on the recovery of tourism in the…
Thailand economic freedom climbs to 3rd in ASEAN vowing property and contractual rights Thailand ranked 3rd in ASEAN, 9th among 40 Asia-pacific countries and 42nd in the World on the most recent on Economic Freedom index. Singapore tops the list for the second consecutive year, followed by New Zealand and Australia. Thailand has a business freedom index of 85.3 out…
Thailand Eastern Economic Corridor expects 300-billion-baht investment in 2021 BANGKOK – Thailand expects investment to triple to at least 300 billion baht in the Eastern Economic Corridor (EEC) this year as investment projects previously held by the coronavirus outbreak get pushed forward again as the pandemic eases. EEC Secretary -General Kanit Sangsubhan said actual investment in…