More EV incentives: The Finance Ministry may consider lowering the import duty on electric vehicles (EVs) as part of the measures to promote the use of EVs, says a ministry source who requested anonymity. Thailand’s EV import tax rates vary. EVs imported from China enjoy a 0% tax rate under a bilateral agreement between Thailand and China. Bangkok Post
SME NPLs may reach 10% in year ahead: End of relief could hit small ventures. Non-performing loans (NPLs) of small and medium-sized enterprises (SMEs) next year are expected to rise to 10% from 6% at present if relief measures by financial institutions are not extended from the end of this year, says ExportImport (Exim) Bank of Thailand president Rak Vorrakitpokatorn. Bangkok Post
NBTC reverses course on telecom infrastructure funds: The National Broadcasting and Telecommunications Commission (NBTC) board has reversed its stance on its requirement for telecom infrastructure funds to seek telecom licences, saying these funds are just financial tools to raise capital. The board also assigned management to draw up a regulatory draft to determine all telecom infrastructure funds are not subject to requirements for a telecom licence. Bangkok Post
Ministry to reduce prices of 74 agrochemical items: The Commerce Ministry’s Internal Trade Department has teamed up with importers and traders to reduce the prices of 74 items of agrochemical products by as much as 35% for three months, starting from today. Speaking after meeting with 22 importing and trading companies from three associations yesterday, Wattanasak Sur-iam, directorgeneral of the Internal Trade Department, said the cooperation programme scheduled to run from today until Feb 28, 2022 aims to help reduce production costs for farmers. Bangkok Post
October collection tops government target: The government’s revenue collection in October, the first month of fiscal 2022, has surpassed its target, indicating an economic recovery, says Fiscal Policy Office (FPO) director-general Pornchai Thiraveja. The net revenue collection in October was 194 billion baht, exceeding the target by 5.9% and 13.2% higher than the same period last year. The Revenue Department collected 120 billion baht in October, 6.1% higher than the month’s target and 11.9% higher than the same period last year. Bangkok Post
Thailand will not take a step back from the reopening plan despite uncertainty over the Omicron variant and the Tourism and Sports Ministry will also propose more relaxation on alcohol sales from the afternoon to lift the festive sentiment.
The NBTC yesterday announced a partnership with Huawei Technologies (Thailand) to accelerate fibre infra development in Thailand at the “Giga Thailand: Broadband Forum”.
The Oil Fuel Fund Office (Offo) to obtain Bt20b loans from 10 banks, following the government’s approval to seek loans to support its subsidy program during the global oil price surge.
The cabinet yesterday approved a combined Bt141b to support an income guarantee scheme for rice and rubber farmers in the 2021-22 season.
Finance Ministry said Government will inject around Bt1trnl into the economy next year to cushion against any volatility that may be caused by the Omicron variant.