Coalition dance begins: Parties size up their chances for taking office after next poll. Several possible formulas for the formation of the next government are emerging with Bhumjaithai, the second largest coalition partner, poised to emerge as the most coveted party, according to politicians and experts. Bangkok Post
BoI seeks to boost FDI: Perks strengthen Thailand’s status as an attractive production base. The Board of Investment (BoI) is planning to increase outlays by strengthening Thailand’s status as an attractive production base, part of efforts to achieve a “new economy” goal. Bangkok Post
Authorities promote energy saving: More LNG imports drive up power bills. Energy authorities are preparing to make an electricity saving campaign a mandate for households and businesses as they struggle to deal with the high prices of liquefied natural gas (LNG) which may keep soaring in the winter, putting more financial burden on national power generation.
State revenue exceeds goal: Excise Department falls short of target. Economic recovery and improving domestic consumption have been cited as reasons for the higher revenue. The state’s net revenue in fiscal 2022 hit 2.53 trillion baht, exceeding its target by 130 billion baht, said the Fiscal Policy Office. The government’s net revenue in fiscal 2022 hit 2.53 trillion baht, exceeding its target by 130 billion baht, or 5.4%, said Fiscal Policy Office (FPO) directorgeneral Pornchai Thiraveja.
Footy spend riles scholars: B1.6bn World Cup rights ‘a waste’. Media academics have voiced strong objections to the National Broadcasting and Telecommunication Commission (NBTC) spending 1.6 billion baht on the rights to broadcast live World Cup 2022 matches free of charge. Bangkok Post
Govt bows to pressure on foreign land buyers: The cabinet yesterday approved a request by the Interior Ministry to withdraw a controversial bill on land ownership by foreigners, said official spokesman Anucha Burapachaisri. Bangkok Post
Rice scheme bound for cabinet: Budget to be adjusted to current situation. The rice farmers’ income guarantee scheme covers 28.5 million rai of rice farmland nationwide, involving 4.64 million households. The rice farmers’ income guarantee scheme for the 2022-23 season’s crop will go before the cabinet for approval next week. Bangkok Post
Bourses attract B154bn in foreign funds: Roughly 154 billion baht in foreign capital has flowed into the Thai stock market since the beginning of the year, as foreign investors view the country’s stock market as a safe haven among global peers, says the head of the bourse. Bangkok Post
Fetco says country likely to avoid a recession: Attributed to tourism sector’s resurgence. The Federation of Thai Capital Market Organizations (Fetco) predicts that global and domestic inflation will begin to fall this year, while global interest rates will peak next year and start to decline in 2024. Thailand should avoid a recession because of its strong recovery in tourism, though the International Monetary Fund (IMF) expects 25% of emerging markets to face an economic and financial crisis in 1-2 years, according to Kobsak Pootrakool, chairman of Fetco and senior executive vice-president at Bangkok Bank. Bangkok Post
TH Travel Agent Association (TTAA) is anticipating growth of outbound tourism after HK became the latest destination to allow tour groups to visit with fewer restrictions, encouraging tour operators to conduct marketing.