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HEADLINES [click on headline to view story]:

Mekong Institute becomes intergovernmental organization

Investors given more options with overseas securities

Three foreign airlines add Thailand

Mekong Institute becomes intergovernmental organization

Government dignitaries and members of the diplomatic corps attended the ceremony held at Bua Kaew Room, Ministry of Foreign Affairs in Bangkok.

A signing ceremony between the government of the Kingdom of Thailand and the Mekong Institute (MI) based at Khon Kaen University was held recently to transform the MI into a new intergovernmental organization (IGO).
The Thai Foreign Minister, Nitya Pibulsonggram, together with members of the diplomatic corps, witnessed the signing ceremony
The event signified collaborative efforts of the Greater Mekong Sub-region (GMS) member countries in creating long-term development for people within the region.
The Foreign Minister Nitya Pibulsonggram, former Council Chairman of the Mekong Institute, Mr. Tej Bunnag, Honorary Advisor of the Council Committee, Mr. Narongchai Akrasanee, Steering Committee Chairman, together with Ambassadors of Myanmar, Vietnam and New Zealand as well as representatives from the Embassies of Cambodia, Lao PDR and China attended the ceremony
The MI has played an active role in providing human resource development assistance, with the support of the New Zealand Government, to the Greater Mekong Sub-region (GMS) since 1996. It brought together senior and mid-level officials from all six GMS countries to learn and share experiences through learning programs focusing on management, policy-making, and leadership training in a wide range of issues particularly tourism, development of the rural area economies and private sector competitiveness.
As an intergovernmental organization, MI is able to undertake its mandates in enhancing effective regional cooperation and promoting long-term development for the people of the Greater Mekong Sub-region.


Investors given more options with overseas securities

In an attempt to further ease the baht appreciation, the Securities and Exchange Commission will allow individual investors to invest in securities overseas in amounts not exceeding US $5 million per individual. This move is likely to take effect next month.
SEC Secretary-General Theerachai Puvanartnaranubala revealed the commission had discussed the move with the Bank of Thailand, the Fiscal Policy Office, the Stock Exchange of Thailand, the Securities Companies Association, and the Asset Management Companies Association on ways to encourage Thai nationals to invest overseas.
All parties shared a common view that SEC should allow local institutional investors such as foundations and cooperatives to invest in financial instruments and securities overseas.
At present, the Bank of Thailand has allowed only mutual funds, provident funds, securities companies, and asset management companies to invest overseas.
For investment channels, institutional investors will be allowed to invest through brokerage houses and individual investors to invest through private fund managers.
The investors are required to report their investment in securities overseas to BoT in a set period to prevent possible speculation on a baht difference in the offshore and onshore markets. TNA


Three foreign airlines add Thailand

The Department of Civil Aviation announced the authorization of 3 airlines to open new air routes into Thailand.
These include Vladivostok Air from Russia, Air Bagan from Myanmar, and Jet Airways from India. Vladivostok Air will be operating 3 flights per week along the Russia-Korea-Bangkok route. Air Bagan will be operating 7 flights per week along the Yangon-Bangkok-Yangon route. Jet Airways will be operating 14 flights per week along the New Delhi-Bangkok-New Delhi route.
The Director General of the Department of Civil Aviation expressed his confidence that the establishment of new travel routes during the low season indicates that foreign travelers remain interested in visiting Thailand. NNB