Ompda Jaecoo Int’l, a unit of China’s state-owned Cherry International, to seek BOI privileges to set up EV plant in TH. Cherry’s 1st TH investment plan in Thailand spans from 2024-5 with an EV production capacity of 18K units p.a.
Free visa plan to add 700,000 Chinese guests: Tourism authority makes estimate as it plans for busy high season. The Tourism Authority of Thailand (TAT) estimates the government’s plan to issue free visas to visitors from China will add 700,000 arrivals during the high season. Bangkok Post
Foreign outflows of TH bond gain momentum, 5-d MA accelerated to $36.9m, vs 20-d avg of $31.7m, yield on 10-y govt bond was little changed to 2.784%, THB to USD at 35.252.
New ministerial regulations allowing places of accommodation with no more than eight rooms and 30 guests to be excluded from the hotel business would lead to a 15-20% loss of tourism revenue and an increase in safety risks, the Thai Hotels Association (THA).
Govt eyes El Nino mitigation: Srettha off to inspect provinces in Isan. The government is stepping up efforts to address concerns about decreased rainfall and drought caused by the El Nino weather phenomenon that is affecting Thailand’s agricultural sector, Prime Minister Srettha Thavisin said. Bangkok Post
PM talks investment roadshow strategy: Prime Minister and Finance Minister Srettha Thavisin is gearing up for an investment roadshow to be organised during his trip to the 78th UN General Assembly in New York from Sept 18-24. Bangkok Post
Focus remains on EV package: Incentives expected by year-end. Newly appointed Industry Minister Pimphattra Wichaikul pledges to step up efforts to pass a new electric vehicle (EV) incentive package to develop the fledging Thai industry, hoping to win approval from the Pheu Thai-led coalition government. Bangkok Post
Electronics firms from Taiwan were approved for 20 investment projects worth 30 billion baht by the Board of Investment.: The Board of Investment (BoI) has approved 20 new investment projects worth 30 billion baht from Taiwanbased electronics companies that want to use Thailand as their new export base. Bangkok Post
As growth slows, BoT trims 2023 projection: The Bank of Thailand reduced its growth projection for 2023 this month after GDP and the inflation rate were lower than forecast. Bangkok Post
Export forecast cut amid global woes: The Thai National Shippers’ Council (TNSC) has downgraded its export forecast for this year to a contraction of 1% from its previous forecast, which ranged from a contraction of 0.5% to a 1% increase, citing weak global demand. TNSC chairman Chaichan Chareonsuk said yesterday Thailand’s exports will definitely fall into negative territory this year, possibly by -1% or more, due to many unknown risks and persistent problems. Bangkok Post