On the edge of a precipice?: Most executives believe the economy is not close to the crisis level the government claims. Tensions between the Bank of Thailand and the coalition government led by Prime Minister Srettha Thavisin, who is also the finance minister, have been apparent for months and flared up last week after the Monetary Policy Committee (MPC) decided to maintain interest rates at 2.5% following a political push for a reduction. Bangkok Post
Private funds picked for growth in 2024: According to the AIMC, assets under management at private funds expanded 10.6% last year. The private fund industry is expected to post continued growth this year as demand surges for wealth management and foreign investment emerges as a trend, say fund managers. In 2023, the industry expanded 10.6% year-on-year with assets under management (AUM) increasing 204 billion baht to 2.17 trillion, most of which was with institutional investors. Bangkok Post
Strict rules curb condo market: The industrial and hotel sectors will continue to grow, but the condo market will remain sluggish, says Knight Frank Thailand. An aerial view of high-rise buildings in Bangkok. Mr Burtenshaw pointed out that Thailand is no longer a low-cost manufacturing base. The industrial and hotel sectors will continue to grow, unlike the condo market which will remain sluggish due to stricter rules for mortgage lending by banks, according to property consultant Knight Frank Thailand. Bangkok Post
Authorities to discuss Oil Fuel Fund management: Authorities will meet within this week to discuss the state Oil Fuel Fund’s huge loss incurred by oil and gas subsidy programmes though its financial status remains manageable, says a source at the Energy Ministry. Bangkok Post
Cabinet okays another B560bn in borrowing for 2024: The cabinet yesterday approved an additional 560 billion baht in new borrowing for fiscal 2024, bringing total new borrowing for the fiscal year to more than 754 billion. Bangkok Post
Ministry allocates B50m for tourist insurance scheme: The Tourism and Sports Ministry has set aside a budget of 50 million baht to assist foreign tourists in case of death or accidents in fiscal 2024. Bangkok Post
Minister nudges industry towards sustainability for exports: The Thai automotive industry is being urged to speed up the transition to new global regulations, which emphasise sustainability and clean energy, while leveraging free trade agreements (FTAs) to hone their competitive edge. Bangkok Post
PM urges action on influx of Chinese goods: Prime Minister Srettha Thavisin has instructed the Revenue and Customs departments to speed up their discussion on ways to stop cheap products from China from flooding Thailand’s domestic market, including revoking the value-added tax waiver on Chinese products worth less than 1,500 baht. Bangkok Post
BoI extends incentives for EEC high-speed rail builder: The Board of Investment (BoI) has agreed to extend investment promotion privileges to the builder of a high-speed railway linking three airports, in a fresh effort to unlock the 224-billion-baht transport infrastructure project in the Eastern Economic Corridor (EEC). Bangkok Post
Asean-China pact ramps up exports: The Asean-China Free Trade Agreement (ACFTA) has significantly boosted Thai exports to China, particularly processed sugar items such as syrup, artificial honey and various sweeteners. Thailand posted annual growth of 145% for processed sugar exports to China over the past decade, according to the Foreign Trade Department. Bangkok Post
