IEAT planning new park for EEC: Estate expected to create 16,000 jobs. The Map Ta Phut Industrial Estate in Rayong province, operated by the IEAT. The IEAT is planning to open a new industrial estate in Chachoengsao. The Industrial Estate Authority of Thailand (IEAT) plans to build a new industrial estate in Chachoengsao, one of three provinces in the Eastern Economic Corridor (EEC), within two years to help the government lift the economy after the pandemic is under control. Bangkok Post
FTI keeping close watch on value of depreciating baht: The Federation of Thai Industries (FTI) is closely monitoring the foreign exchange rate after the baht recently fell to its weakest value in 14 months at 32.29 baht to the US dollar, although this benefits Thai exporters. Bangkok Post
Thai FIFs get off to good start this year: The net asset value of Thai foreign investment funds (FIFs) hit 1 trillion baht for the first time in April, raising the total value of Thai equity funds by 39.6% from last year. Almost all of the new FIFs are investments in equity assets in China and other global stock markets expected to post high returns as the global economy has started to recover this year, according to Morningstar Research Thailand. Bangkok Post
Digital regulation draft bill a double-edged sword: New rules will protect users but make it hard to do business. A draft of a royal decree meant to regulate digital platforms providing services in Thailand has drawn criticism among legal and tech experts about its impracticality over stringent requirements. Bangkok Post
B50bn govt savings bonds sold-out: Total government savings bonds worth 50 billion baht have already sold out after their launch early this month, said Patricia Mongkhonvanit, director-general of the Public Debt Management Office (PDMO). Bangkok Post
Metal mirage: The local price of gold has seen odd swings, driven by fears about Covid, baht depreciation and US bond yields. YLG gold bars on display. The local gold price has risen by 1,500 baht or about 4% in the past three weeks. Thai gold prices have climbed 4% in the past three weeks, spurred by a 2% increase in the global gold price, the baht’s depreciation, and fears over a major uptick in the number of new infections. Bangkok Post
AstraZeneca has asked Thailand to extend the timeline for the delivery of 61m doses of its Covid vaccine until May next year, Deputy Public Health Ministry Sathit Pitutecha said.
EU removes Thailand & Rwanda from recommended white travel list; adds Ukraine.
World Bank downgrades Thai GDP growth to 2.2%: Thailand’s economy has been ravaged by the pandemic and is projected to expand modestly at 2.2% in 2021, revised down from 3.4% in March, according to the World Bank. Bangkok Post
BoT: Debt holiday for those in need: 2-month freeze on borrower payments. The Bank of Thailand is allowing a two-month debt holiday for individuals and small and medium-sized enterprises (SMEs) suffering a direct impact from the government’s latest lockdown measures to combat the pandemic. Bangkok Post