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…

Employment key to reopening economy

Employment key to reopening economy Finance Minister Arkhom Termpittayapaisith has instructed ministry departments to devise measures to tackle unemployment and propel the economic recovery in preparation for a full reopening of Thailand’s economy. “Businesses without money cannot hire people, therefore one of the measures to tackle unemployment is to maintain existing employment. The government can…

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…

Thailand adds fresh tax breaks to stimulus to spur growth

Thailand adds fresh tax breaks to stimulus to spur growth BANGKOK (BLOOMBERG) – Thailand will extend tax incentives to millions of its middle and upper income groups to fire up consumption and counter the nation’s worst economic slump triggered by the coronavirus pandemic. The concession will allow about 3.7 million taxpayers to deduct 30,000 baht…