Effort to help parts producers evolve: The Thailand Automotive Institute (TAI) plans to equip Thai auto parts producers with electric vehicle (EV) technology know-how as part of measures to help them better compete with Chinese firms that are expanding their EV-related businesses in Thailand. Bangkok Post
Civil Aviation Authority (CAAT) gives nod to carriers from China to submit application to resume 100% of flight slots, an increase of 262 flights/week.
Commerce Ministry’s keeping its export growth target of 1-2% this year despite Thai shipments falling for a 7th consecutive month in April. May exports shrinks further as excess inventory of trading partners lead to weak orders, improving trade flows and food items export to China afert border reopened to provide cushion.
VAT refunds surge after reopening: Arrivals spike leads to spending gain. Tourist tax refunds have skyrocketed since Thailand fully reopened in June last year, according to Revenue Department directorgeneral Lavaron Sangsnit. Bangkok Post
Pheu Thai shelves digital cash plan: Pheu Thai’s digital wallet scheme will be shelved for the time being to make way for the social welfare policies of the Move Forward Party (MFP), according to the party’s secretary-general, Paopoom Rojanasakul. Bangkok Post
Chinese EV firms eager to join FTI: Manufacturers want to propel industry. Chinese electric vehicle (EV) manufacturers are keen to become members of the Federation of Thai Industries (FTI) to help drive the fledging EV industry in Thailand. Bangkok Post
BoT pushes up interest rate to 2%: Move meant to boost Thai recovery. The Bank of Thailand’s Monetary Policy Committee (MPC) has raised its policy rate by 0.25 percentage points, in a bid to maintain the momentum of the Thai economic recovery. Bangkok Post
TAT forecasts tourism revenue of B3tn in 2024: The Tourism Authority of Thailand (TAT) remains confident the industry can garner revenue of 3 trillion baht next year, matching the level of 2019. Bangkok Post
Saha Group averse to hike in daily wage: Saha Group, the country’s leading consumer product conglomerate, suggests the new government emphasise promoting the agricultural sector rather than a sharp increase in the daily minimum wage, as this approach would help sustainably develop the country’s economy. Bangkok Post
MPI for April declines 8%: Manufacturing hit by numerous factors. Sugar manufacturing expanded by 19.1% year-on-year in April, driven by demand in the domestic and overseas markets. The April manufacturing production index (MPI) dived 8.14% year-on-year to 83.5 points. Thailand’s Manufacturing Production Index (MPI) is expected to be tepid this year, with growth of 0-1% because of a combination of business obstacles domestically and overseas, as the April reading was the lowest in 34 months. Bangkok Post