1. SSO is tightening policies on investing in corporate bonds following LPN, BAFS, BEC and AAV credit downgrade, raises overseas investment to 30% from current 15% to diversify risk.
  2. Thailand’s elderly population is growing rapidly. The country is already considered an “ageing” society, meaning 10% is aged 60 and over, and has been since 2005. It is transitioning to an “aged” society, with those aged 60 and over set to account for 20% of the population this year.
  3. Thailand yesterday started the first human trials of a domestically developed Covid-19 vaccine, with the rollout expected to begin next year.
  4. Phuket to submit reopening plan: Bid to let inoculated tourists visit in July. Phuket will submit its reopening plan to the Centre for Economic Situation Administration (CESA) for approval this Friday in a bid to let inoculated tourists visit without quarantine in July, while Samui also hastened the reopening process with a sealed model. Bangkok Post
  5. Cabinet yesterday approved financial relief measures worth Bt350b to help business sector recover from the impact of Covid after the existing Bt500b aid program underperformed, including a Bt100b plan that allows cash-starved companies to park their assets with lenders in exchange for credit.
  6. Covid vaccinations for airline workers have to proceed within the next two months to be aligned with the tourism sandbox in Phuket aiming for July reopening, the Airlines Association of Thailand (AAT).
  7. Government pledges to roll out the 3rd phase of the co-payment subsidy scheme, possibly in 3Q21, but must first tackle the scheme’s loopholes that are open to fraud and re-evaluate the scheme’s efficacy in stimulating spending and the overall economy.
  8. Govt ups E-car drive: Sets ambitious sales goal for year 2035. The government now wants every electric vehicle sold in Thailand to have been produced locally by 2035, five years earlier than its original plan, as it burnishes its clean green credentials. Bangkok Post
  9. BoT reduces annual growth forecast to 3%: Covid, weak tourism still hurt economy. The Bank of Thailand yesterday slashed its economic growth forecast this year to 3% from 3.2% made in December, given the impact of the second wave of Covid-19 infections and tepid tourism. Bangkok Post
  10. Deputy PM, Supattanapong, in talk MOF to roll out additional stimulus to boost spending after report show deposit +11% yoy as mid-class & upper hoard cash during pandemic.

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