Kyocera plans to invest JPY 100b to increase production of smartphones and EV at factory in TH, Nikkei reports.
EssilorLuxottica to invest Bt 16b to establish 220k sq.m. eyewear production plant in EEC Rayong.
EEC seeks investment of B500bn: Government sets goal for economic zone. The new government aims to attract 500 billion baht in real investments to the Eastern Economic Corridor (EEC) within five years. Bangkok Post
Condo prices suffer from glut: The price index of new condos in Nonthaburi and Samut Prakan declined for four consecutive quarters because of an oversupply of unsold units in older projects, primarily within price segments affected by negative factors. Vichai Viratkapan, acting directorgeneral of the Real Estate Information Center (REIC), said the ongoing decline in the price index for the two provinces can be partly attributed to older projects that have been on the market since before 2021. Bangkok Post
IMF cuts FY23F GDP growth to 2.7% from 3.4%, revised down FY24 projection to 3.2% from 3.6% due to global uncertainty from geopolitical conflicts, high oil price.
Bank of Thailand has released a financial stability risk report highlighting 3 items: 1) reduced household debt servicing ability, NPL cliff, 2) stable capital markets but more difficulty for businesses to tap for funds and 3) reduced profitability and liquidity of non-bank institutions due to higher cost of funds though there is enough retained earnings to mitigate risk.
PM woos Chinese firms: Talks to business heads at BRF forum. Chinese companies are interested in investing in bio-circular and green (BCG) economic development projects, as well as renewable energy, electric vehicles (EV) and transport infrastructure projects, Prime Minister Srettha Thavisin said yesterday. Bangkok Post
Prime minister wants to permanent exempt visa requirement for Chinese tourists and will look into extending waivers to Taiwanese, Indians and Malaysian tourists.
SETBANK/SETFIN: Aggregate loan rejection rate of banks and non-banks stands at 50-60% as consumers debt servicing ability has significantly reduced. TTB says loan criteria has remained unchanged while CHAYO says it is reducing loan origination on fear of bad debts.
Digital wallet scheme faces ‘possible delay’ over security: The government’s 10,000-baht digital currency handout, initially scheduled for Feb 1 next year, may be delayed to ensure that a system for the scheme’s rollout, currently under development, will feature maximum safety, Deputy Finance Minister Julapun Amornvivat says. Bangkok Post