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Update April, 2015


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Update by Natrakorn Paewsoongnern
 
 
 
Business
 

Finance Min boasts visible economic improvement over the past 6 month

The Ministry of Finance's Permanent Secretary Rangsan Sriworasart, claims his agency's 6-month performance report, scheduled to be released on Wednesday, would show the public visible improvement in Thailand's economy under its management, saying that the only recent matter of concern is the slowing growth of exports.

He said the government's stimulus package helped the recovery of local spending; citing the amount of Value Added Tax (VAT) collected during the first quarter of this year had increased by 1%. The figure consists of a 10.5% increase in domestic VAT on spending, Mr. Rangsan indicated, adding however that the VAT on imports was at a negative 11%, due to the lower global fuel price.

Meanwhile, the Permanent Secretary pointed out that local investment has also shown signs of recovery, with March cement sales growing 0.6%, adding that capital goods imports during the period also expanded 5.9%.

Mr. Rangsan said, although export growth figures to China, Japan and the European Union in February are still negative, the figures were positive for the U.S., ASEAN member countries and the CLMV nations, which are Cambodia, Laos, Myanmar and Vietnam.

He concluded that Thailand's overall economic outlook remains strong with a high volume of foreign exchange reserves. Permanent Secretary Rangsan also disclosed that last month's tourism sector grew 23%, while adding the international community still viewed the Kingdom as favorable for investment. (NNT)


BOI approved 460 projects, worth over THB100,000m in Jan-Feb 2015

The Board of Investment (BOI) approved 460 projects applying for investment promotional privileges during January to February 2015. These projects involve more than THB115,000 m in investment capital and have created 31,000 job opportunities, according to acting BOI Secretary-General Hirunya Suchinai.

The approved projects have begun their operations one after another, particularly those producing automobile parts and electronic equipment. Hirunya said those investments demonstrated investors’ confidence in Thailand’s potentials as industrial production base and proved the country's attractiveness to new investors.

Last week, she said, the BOI meeting chaired by Prime Minister Gen Prayut Chan-o-cha approved ten more projects worth around THB28,000m. They include, among others, an auto part factory, a Biomass power plant and international exhibition centers. (NNT)


HEADLINES [click on headline to view story]

Update April 21, 2015

Finance Min boasts visible economic improvement over the past 6 month

Update April 10, 2015

BOI approved 460 projects, worth over THB100,000m in Jan-Feb 2015

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