1. Foreign property lures are rejected: Government still wants to entice wealthy expats. The Centre for Economic Situation Administration (CESA) chaired by Prime Minister Prayut Chan-o-cha yesterday put the brakes on proposals to increase foreign ownership quotas for condominiums from 49% and expand property leasehold rights for foreigners from 30 years to 50 years. Bangkok Post
  2. Exports surge 17% in 2021: Thailand’s exports rose by 24.2% year-on-year in December, beating expectations and helping 2021 growth hit 17.1%, the highest in 11 years. Bangkok Post
  3. Cabinet’s approved Bt53b fiscal budget to help support local demand; Bt34.8b for 50:50 co-payment scheme from February-April, Bt9.4b in cash handouts to 15.7m welfare card holders, Bt9b to boost domestic travel from February-July.
  4. Car exports poised to rise to 1m units: Car exports are expected to increase to 1 million units for the first time in two years as the Federation of Thai Industries (FTI) pins its hopes on the limited impact of Covid-19 and the global semiconductor shortage on the automotive industry. Bangkok Post
  5. BoT mulls stablecoins to pay for goods, services: The Bank of Thailand (BoT) is considering promoting the use of stablecoins to pay for goods and services, specifically in some use cases, which will be useful for financial innovation. Bangkok Post
  6. Digital assets banned for payment: Regulators fret about financial stability. Regulators plan to prohibit the use of digital assets to pay for goods and services because it could create a risk for financial stability and the economy. Bangkok Post
  7. Office of the Narcotics Control Board (ONCB) has endorsed the Health Ministry’s draft announcement preluding the legislative process to legally recognize the use of cannabis and hemp.
  8. TGH subsidiary ceases operation: Southeast Insurance caves under claims. Insurance giant Thai Group Holdings (TGH) says its subsidiary Southeast Insurance plans to cease operations because it cannot make payment claims for all the Covid-19 policies it issued. Bangkok Post The Office of the Insurance Commission (OIC) says Southeast Insurance has not been approved for liquidation, stressing that all coverage for policyholders is still in place.
  9. Purge tests PM’s resolve: Prayut dismisses cabinet reshuffle but his options are limited. All eyes are on Prime Minister Prayut Chan-o-cha’s next move following the purge of 21 MPs from the ruling Palang Pracharath Party (PPRP) including Thamanat Prompow, the party’s former secretary-general. Bangkok Post
  10. BoT licenses joint ventures to handle banks’ bad debts: Effort based on long-term outlook. The central bank forecasts the impact of the pandemic is going to be long-lasting and could differ from past economic crises, such as the 1997 Asian financial collapse. The Bank of Thailand announced conditions to establish a joint venture asset management company (JV AMC) to support financial institutions managing bad debt for the long term as the pandemic persists. Bangkok Post
  1. peter satrapa-binder

    @1 property for wealthy foreigners: seems like the governments wants the money of wealthy foreigners, but they don’t want to give them anything for it = business as usual here in thailand.

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