1. Budget bill clears parliament: Govt promises to ensure transparency. The 3.48-trillion-baht budget bill for the 2024 fiscal year passed parliament yesterday as the government promised to ensure transparency in budget spending, improve people’s livelihoods and steer the economy forward. Bangkok Post
  2. FPO says no reason to resist rate cut: Fiscal Policy Office chief urges central bank to make use of policy space. The Fiscal Policy Office (FPO) says the Bank of Thailand no longer has any reason to refrain from reducing the policy rate. Bangkok Post
  3. Bumpy road for EV evolution: An auto parts executive worries about a lack of income from Chinese electric vehicle makers, but others in the industry counsel patience. The rapid growth in electric vehicle investment in Thailand from many Chinese EV makers is, in the eyes of some industry observers, reminiscent of “zero dollar” tours. In this tour scam, which made headlines in 2016, Chinese visitors were lured into buying cheap tour packages in Thailand, but were forced to buy unusually expensive souvenirs and services during their stay. Bangkok Post
  4. Senators size up targets: Debate covers wallet scheme, Thaksin. The overlapping claims area (OCA) in the Gulf of Thailand claimed by Thailand and Cambodia, the government’s digital-wallet project and the treatment of former prime minister Thaksin Shinawatra will be among topics for a general debate by the Senate today. Bangkok Post
  5. Govt upbeat on wallet handout: Digital cash bonus to launch at the end of year.The government will launch its flagship digital wallet handout scheme in the last quarter of the year, with the timeline of the scheme expected to become clearer after the digital wallet policy committee meets on April 10, according to Deputy Finance Minister Julapun Amornvivat.
  6. Ruling labelled a ‘regulatory blip’: Move could unravel huge telecom tie-up. Stock analysts believe the Supreme Administrative Court’s order that the Central Administrative Court accept a lawsuit filed by five individuals, requesting the nullification of the National Broadcasting and Telecommunications Commission’s (NBTC) resolution to acknowledge the merger of True Corporation and Total Access Communication (DTAC), is just another regulatory blip
  7. Extended trading hours fail to help: The 30-minute extension of the Stock Exchange of Thailand’s (SET) trading hours and the possibility that the Bank of Thailand will start cutting interest rates next month failed to boost the Thai market yesterday as investors worried about a possible backlash to an early rate cut and the consequences of Friday’s terrorist attack on the outskirts of Moscow.
  8. The Senate voted to approve $96b budget bill for 2024 fiscal year starting Oct. 1, after House approved it on Friday.
  9. Panel agrees on Bt400 daily minimum wage for tourism-related in Phuket and some areas in 9 other provinces from April 13, but majority of them may have earned more than that already.
  10. The BOI said PM’s recent roadshows to 14 countries to promote investment are expected to draw an influx of at least Bt558b billion baht, according to the Board of Investment (BoI).

Additional 10

  1. Domestic car sales continued to decline, especially in the pickup segment, falling by 26% yoy in Feb, which is expected to be the lowest level in 2 years, the FTI.
  2. PM’s roadshows likely to draw B558bn: Prime Minister Srettha Thavisin’s recent roadshows to 14 countries to promote investment in Thailand are expected to draw an influx of at least 558 billion baht, according to the Board of Investment (BoI).
  3. Commerce slightly upbeat on Q1 exports: Freight costs and manufacturing stable. The Commerce Ministry expects Thailand’s export value in the first quarter this year to grow by 1-2%, driven by stable freight costs as shipments of major products such as rice, rubber, pet food, automobiles and electronics start to show signs of improvement.
  4. The House considers a study on legalizing casino under a so-called entertainment complex project.
  5. Thais received the highest number of fraudulent messages in Asia in 2023, with >58m messages received, according to the caller identification app, Whoscall.
  6. BOI approves incentives for event organizers and extends tax benefit for PCB projects in more parts of the supply chain, raw material, providers of services such as lamination, drilling, plating, routing, and electrical testing.
  7. PM voiced his support for the opening of entertainment complexes with casinos in the country, boosting state revenue by Bt84b p.a. to related industries and 20m additional tourists.
  8. Digital ads expected to generate B31bn in 2024: The growth of digital advertising in Thailand is expected to slow to 8% this year, reaching 31 billion baht in value terms, compared with doubledigit growth in 2023, with TikTok moving up from sixth to third place, trailing Facebook and Instagram under Meta as well as YouTube.
  9. Ministry mulls raising price limit for housing: The Finance Ministry may consider raising the price limit for housing units eligible for government support, aiming to stimulate growth in the real estate sector.
  10. The Thai Manufacturing Production Index fell for a 17th consecutive month, attributed to a sluggish automotive sector.: Decreased by 14.5% in the fourth quarter. According to the Real Estate Information Center, supply of low-rise houses tallied 15,770 units worth 144 billion baht in the fourth quarter of 2023. New residential units sold in Greater Bangkok in the fourth quarter of 2023 declined by 14.5% year-on-year, resulting in a 22.5% decrease for the full year, according to the Real Estate Information Center (REIC).

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.