Govt injects B2.8bn for domestic vaccine development push: The government has allocated more than 2.8 billion baht to support Covid-19 vaccine research and development and push for Thailand to be a regional hub for vaccine production. Bangkok Post
Association of Domestic Travel (ADT) has urged Government to speed up the launch of the Tour Teaw Thai (domestic travel for Thai) scheme under the Phuket sandbox in July to help tour firms hurt by the latest outbreak.
Sinopharm for factories: Target of 1,000 per day to start on July 9. The state-private partnership expects to start distributing Chinese-made Sinopharm vaccines to factory workers in five industrial estates and a deep-sea port in Map Ta Phut on July 9, with a target of 1,000 vaccines administered per day. The inoculation will be carried out for workers at WHA Eastern Industrial Estate (Map Ta Phut), Map Ta Phut Industrial Estate, Padaeng Industrial Estate, RIL Industrial Estate, Asia Industrial Estate and Map Ta Phut deep-sea port in Rayong. Bangkok Post
Measures to lure wealthy foreigners hit obstacle: The fresh investment measures including a sweeping plan to allow rich foreigners to enjoy a long-stay visa for up to 10 years, own land and property, and pay a 17% personal income tax on local earnings are yet to be settled, as the Finance Ministry is still resisting the thorny tax reduction proposal. Bangkok Post
BoT sets 2 paths for household debt: Proposals include less consumer loans. A central bank economist forecasts a crossroads for the country’s household debt over the next four years, either rising to 92.8% of GDP or declining to 79.1%. Bangkok Post
Cabinet backs B2.25bn for job scheme: The cabinet yesterday approved the allocation of 2.25 billion baht from a central budget reserved for emergency purposes in fiscal 2021 to hire 10,000 new university graduates for one year, in a move to help people financially suffering from the coronavirus outbreak. Bangkok Post
Malaysia is expecting deliveries of AZ vaccines manufactured in Thailand to be delayed, among several countries to report a holdup with orders from the Thai plant.
Slow path to recovery: European hospitality sector is seeing a surge of regional travel demand as Covid-19 cases fall, but a full return of business traffic is unlikely until at least 2023. While the hospitality sector in Asia is struggling to survive the pandemic, hotels in Europe are already reporting signs of improvement. A rapid vaccination drive in several countries helped catalyse a tourism rebound as governments ease travel restrictions, making people more confident to hit the road again after living under a tight lockdown for over a year. Bangkok Post
The 3rd wave of the pandemic is projected to end in July, which could support Thai economic growth of 5% in 4Q21 if government can maintain a vaccination rate of 400K/day, says K-Research.
BOT allows banks to resume dividend payment, but must not exceed last year and 50% of 1H21 profit, will make decision in 4Q on full year dividend payment, also extends debt relief measures for SMEs to year-end. Share buyback is still not allowed.