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Doubts raised on US economy as world trade slows down

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Economy/30362725

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Doubts raised on US economy as world trade slows down

Economy January 23, 2019 01:00

By   SPECIAL TO THE NATION

GLOBAL GROWTH is slowing. Some emerging economies are already in recession and much of the developed world has slowed down markedly, with Japan, Germany, Italy, Switzerland and Sweden contracting in late 2018.

There are now doubts about the US economy, the one advanced country that has helped lift global growth over the past year. All this is happening amid the US-China trade frictions and broader concerns about the Chinese economy.

Although risks are rising, we expect the world GDP growth to slow, not collapse. We forecast global growth to ease from 2.9 per cent in 2018 to 2.6 per cent in 2019, then 2.4 per cent in 2020.

Slower export growth hit Europe and Japan in 2018, though the direct impact of US tariffs on global trade is only just starting to become apparent. The China-specific tariffs and associated retaliatory action have so far hurt US exports to China more than Chinese sales to the US. China has also been better at diversifying its export growth to more rapidly growing markets.

Soft landings in the US are rare following an interest-rate tightening cycle. After a decade-long expansion it is much more common to see at least a shallow recession. The US Federal Reserve always hopes it can tighten sufficiently to control inflation and unemployment and then ease quickly enough to prevent an outright recession. But gauging the appropriate degree of tightening is particularly problematic at a time of hefty fiscal stimulus and record-low unemployment.

The falling oil price has eased the inflation outlook and we currently expect the Fed to raise rates by a quarter of a percentage point in 2019. But as Washington’s fiscal stimulus fades and the impact of previous rate rises comes through, we expect a half-point cut in rates after mid-2020 to prevent the slowdown becoming a contraction. Money markets are no longer confident the Fed can deliver any rise in 2019.

The paramount concern about the possibility of a recession is what options central banks might still have left to respond.

Lower rates and quantitative easing (QE) by developed countries’ central banks were the response after 2008. However, central banks – particularly in Japan and the eurozone, with their zero rates – will be much more constrained this time, entering the downturn with already bloated balance sheets.

Attention would have to return to fiscal policy – ideally a global response like the one the G20 countries agreed in 2009. If the global economy finds itself teetering on the edge of recession in the next year or two, developed-world bond markets should not prevent governments from borrowing more. And some revival in investment is needed, particularly in Europe.

Governments should focus on projects that would ease private-sector bottlenecks and encourage business activity. For instance, higher spending on research and development and infrastructure might raise medium-term supply potential by boosting productivity.

But which sectors, in which regions, will be willing or able to take on another increase in debt? The fiscal stimulus and QE after 2008 saw public-sector debt rise as the private sector deleveraged. Next time, the US might not want to borrow more; China may not be able to, now that its large current-account surplus has disappeared; and the euro zone looks unlikely to have the political consensus or the institutions to deliver a big stimulus.

Contributed by JANET HENRY, global chief economist, HSBC

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Future air quality hinges on stricter diesel policies

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Economy/30362727

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Future air quality hinges on stricter diesel policies

Economy January 23, 2019 01:00

By   SPECIAL TO THE NATION

THE SMOG hangs heavily over Bangkok as residents raise a sense of urgency over quality of air.

Though the air quality usually worsens to extreme levels this time of year, it is actually a problem that exists throughout the year.

In fact, air pollution has become one of the largest causes of death in modern society, In 2015, there were 3.2 million premature deaths in Southeast Asia, compared to the approximately |316,000 road deaths per year in the region, the World Health Organisation reported.

A major source of the pollution in Thailand is the heavy-duty diesel vehicles, which emit high levels of particulate matter (PM) and nitrous oxide (Nox). This problem can be eased by substituting the heavy-duty ones with the low-emission diesel vehicles available and used in several countries.

To enable a shift to a broader adoption of this cleaner technology, stronger emission standards are required from the Pollution Control Department (PCD).

Scania, a Sweden-based manufacturer of buses, heavy vehicles and diesel engines, is urging the PCD to increase the emissions standard for heavy-duty vehicles from the current Euro 3 to Euro 6. Increasing the standard to Euro 6 will effectively reduce the emission of PM and NOx by 90 per cent.

Setting a higher emissions standard and the resulting reduction in air pollution will not only give Bangkok citizens cleaner air and improved health, it will also boost the city’s reputation among the 20 million tourists visiting every year. Plus, it will prove that Thailand is serious about its quest to be recognised as the automotive hub of Asia.

Other Asian countries have already recognised the urgency to improve air quality and are rapidly improving their emission standards. India, for instance, plans to introduce its own version of Euro 6 (BS 6) next year, as is China (China 6a). South Korea and Singapore have already implemented Euro 6 – the standard for new vehicles in Europe since 2013. Now Thailand has an opportunity to participate in this movement and set a clear timeline for the introduction of Euro 6 emission standards in the transport sector.

Of course, there is a cost to a technology shift like this.

The vehicles are more expensive and refineries need upgrading to lower the sulphur content of diesel below 10 ppm. However, with less air pollution, the cost of healthcare can be expected to drop. According to a Kasetsart University |study on pollution-related health |costs in 2017, every microgram of |PM10 beyond the safe limit costs Bangkokians up to Bt18.42 billion in medical expenses.

However, the expenditure on cleaner air will increase lifespans, which in itself is invaluable.

The government can use subsidies, a scrappage scheme, taxes and other financial controls to support the shift and see this as an investment in the people’s health.

Furthermore, improvements to export opportunities and Thailand’s reputation for innovation are other positive effects that can be expected.

Scania has set its strategy to lead the shift to a sustainable transport system and hopes to collaborate with the government to boost the quality of life for Thais.

STEFAN DORSKI is managing director at Scania Siam Co Ltd.

Bt106.8-bn budget allocated as Cabinet nods to SEC

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Economy/30362731

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Bt106.8-bn budget allocated as Cabinet nods to SEC

Economy January 23, 2019 01:00

By   THE NATION

THE CABINET yesterday gave the green light for the Southern Economic Corridor (SEC), allocating a budget of Bt106.8 billion for the development of 116 projects from 2019-2022.

The SEC is expected to spur 5 per cent annual gross domestic product growth for 10 consecutive years.

Deputy Prime Minister Nattaporn Jatusripitak said that the SEC would span the four upper southern provinces of Chumphon, Ranong, Surat Thani and Nakhon Si Thammarat, impacting the lives of some 3 million people.

The SEC will also draw 1.2 million tourists per year, a Bt200-billion increase in investment in the manufacturing sector which will be upgraded to high-tech and environmentally friendly.

The SEC aims to be Thailand’s western gateway, which will be connected within the area, with the South, the East’s special zones and with South Asia by land, air and water.

Commercial airports in the area will be developed to accommodate at least 10 million passengers per year per airport.

The National Economic and Social Development Board (NESDB) has outlined four dimensions of development for the SEC. The first dimension involves the development of 10 projects worth Bt49.2 billion in the Western Gateway to connect coasts along the Gulf of Thailand, coasts along the Andaman Sea and South Asian countries. The projects include improvement of the Ranong airport and port.

The second dimension involves 31 projects worth Bt39.5 billion for improvement of Chumphon airport and the Royal Coast project on the Samut Songkram-Phetchaburi, Prachuap Khiri Khan-Chumphon-Ranong routes for tourism.

The third dimension is to develop 32 projects worth about Bt6.49 billion for bio-based and processed agricultural industry. Centres for economic aquatic animals and rubber innovations will be set up.

The fourth dimension is to promote 38 projects worth Bt7.12 billion for green culture smart and liveable cities.

At yesterday’s meeting, the Cabinet also gave the nod to eight quick-execution projects worth Bt2.68 billion. These include a Bt70-million infrastructure and marketing promotion project of the Ranong port for the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation, the Bt158.2-million Ranong airport improvement project, and the Bt2.23-billion telecommunication infrastructure project for the Asean Digital Hub.

The remaining five projects worth about Bt448.69 million will be financed from the fiscal 2019 budget.

These range from a Bt132.8-million tourism development project for the Phayam island off Ranong, a Bt85.5-million mangrove project off Ranong, a Bt194.6-million integrated herb processing promotion project, a Bt12.64-million project for ageing people in Chumphon and a Bt20-million project to set up a research centre in the SEC.

Countdown begins for October 31 shut-down of 2G service

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Economy/30362715

Takorn, right
Takorn, right

Countdown begins for October 31 shut-down of 2G service

Economy January 22, 2019 15:16

By Sirivish Toomgum
The Nation

The National Broadcasting and Telecommunications Commission (NBTC) board on Tuesday approved the plans of three major telecom operators to pull the plug on their 2G cellular service at the same time –11.59pm on October 31 this year.

The three operators are Advanced Wireless Network (AWN) of Advanced Info Service (AIS), DTAC TriNet (DTN) of Total Access Communication (DTAC), and TrueMove H Universal Communication (TUC) of True Corp.

NBTC secretary-general Takorn Tantasith said after the board meeting that as of this month there were around 4.9 million subscribers to 2G service, of which 1.9 million are with AWN, 2 million with DTN, and around 950,000 with TUC.

In December last year the number of 2G subscribers was around 5.2 million, of which 2 million with AWN, 2.2 million with DTN, and 1 million with TUC.

The state telecom agencies TOT and CAT Telecom do not operate 2G services.

The NBTC will ask the three private telecom operators to soon submit for its approval their plans to launch public campaigns in the lead-up to switching off the 2G service.

Takorn said that the shutdown is part of the country’s moving forward to develop the 5G service, which the NBTC aims to get off the ground in 2020.

Takorn said the watchdog is expected to auction the 700MHz licence in May this year to provide the 5G service.

Survey finds Thailand strong for M&A investment

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Economy/30362646

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Survey finds Thailand strong for M&A investment

Economy January 22, 2019 01:00

By SPECIAL TO THE NATION

MERGER and acquisition activity in Thailand has risen consistently over recent years.

As an established destination for inbound foreign direct investment, Thailand’s M&A will remain strong due to a number of tailwinds including the government’s “Thailand 4.0 Economic Plan”, the ongoing integration of the Asean Economic Community and the country’s continued development from an emerging economy to a stronger regional and global player.

The significant increase in outbound M&A by a variety of Thai conglomerates is further testament to the strength of businesses in Thailand. Those businesses remain attractive to multinational corporations from developed economies seeking growth, along with private equity funds that see Southeast Asia as an increasingly attractive destination.

The underlying macro-economic fundamentals are relatively healthy. supported by low inflation, a strong current account position, healthy international reserves and low external debt. The banking system is well capitalised, the unemployment rate remains very low, and public infrastructure investment and government spending are also accelerating. However, there are shortages of skilled labour in some sectors, especially as we move towards Thailand 4.0.

KPMG in Thailand drew valuable insights from many leading domestic and international clients who have recently undertaken M&A projects in Thailand – both successful and unsuccessful – who shared their insights on the process, challenges and opportunities via a survey and interviews. Some of the key takeaways bolstered our belief of a fast developing, increasingly active and sophisticated M&A market.

88 per cent of the survey respondents expected to make at least one more acquisition in Thailand within the next five years, with 65 per cent expecting to do at least two, and almost a quarter expecting to do more than six. Food and beverages, FMCG and industrial products were the key sectors of interest.

Based on the survey, Thailand appears to be more attractive than three of the “CLMV” countries (Cambodia, Laos and Myanmar), with Vietnam the only emerging Asean country seeming to compete with Thailand on overall attractiveness.

“We expect to see continued strong deal flows in financial services (driven by consolidation in the banking and insurance sectors and increased adoption of fintech), consumer and retail, technology, industrial markets and infrastructure,” said Ian Thornhill, deal advisory partner, KPMG in Thailand.

“Inbound investments are likely to continue to be driven by Private Equity and Venture Capital funds, along with strategic corporates and other global initiatives such as China’s ‘Belt & Road’ initiative.”

Existing cash and new debt raised inside Thailand were the most common methods of financing deals.

Financing for deals in Thailand is driven by 31 commercial banks, including domestic institutions, subsidiaries of foreign banks and foreign bank branches. Together, these entities account for 50 per cent of the total assets of the financial sector and have been a key source of funds in acquisitions. Larger listed corporates have also tapped the public debenture markets to raise capital for large deals, usually converting bridging funds to lower-cost debentures.

One of the main reasons for failed deals was an inability to mitigate and/or negotiate due diligence findings.

Over 45 per cent of respondents cited that due diligence findings also created issues and delays in completing successful deals. Willingness to negotiate, finalising the SPA and other contractual arrangements and aligning expectations around business plans were also identified as key factors impacting the closure of completed deals. Similarly, a lack of willingness to negotiate, and issues around communication, were cited as key reasons for failure on unsuccessful deals.

“Due diligence, in many areas, should be done carefully,” says a senior vice president of an upstream oil and gas company that was interviewed as part of the survey.

Deal times in Thailand may be quicker than expected.

For the vast majority of respondents, it took six months to one year to convert an investment idea to a completed deal. While the detailed execution phase of many transactions in Thailand (as in any emerging market) can be a drawn out and frustrating process, overall deal timeframes are not prohibitive and in our view will only improve over time. Patience and understanding are nonetheless critical to negotiating any deal in Thailand. Advanced planning for integration can mitigate the main post-deal challenges.

Cultural differences (71 per cent) and lack of strategic alignment (54 per cent) made up almost half of the main post-deal challenges identified by respondents. Followed by change management and the realisation of synergies, this highlights the importance of thinking about and planning for Day One and integration plans earlier in the process.

More than half of acquirers either did no integration planning or took only a very light touch approach.

Contributed by KPMG Thailand, http://www.kpmg.co.th.

Internet service for all Thai villages by end of this year, says minister

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Economy/30362658

  • Pichet Durongkaveroj, Minister of Digital Economy and Society
  • Arin Jira, Chairman of Asean BAC

Internet service for all Thai villages by end of this year, says minister

Economy January 22, 2019 01:00

By PHUWIT LIMVIPHUWAT
THE NATION

2,118 Viewed

DEVELOPING digital infrastructure is the most crucial step in advancing “Industry 4.0” in the Asean region, say representatives from both the public and private sectors.

Thailand will become a full-fledged broadband nation by the end of 2019 by providing Internet access to an additional 50,000 villages this year, Minister of Digital Economy and Society, Pichet Durongkaveroj, told reporters.

Pichet, joined by representatives from the private sector, was speaking at the Asean Digital Infrastructure seminar organised by the Asean Business Advisory Council-Thailand (Asean BAC-Thailand) in cooperation with the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB).

The Asean BAC is a private-sector organisation which aims to give guidance and advice to the government sector to boost Asean cooperation.

“One of the biggest hurdles in adapting to digital disruptions in the Asean region is the development of digital infrastructure,” said Arin Jira, chairman of Asean BAC.

“For example, there is limited broadband access in the rural areas, especially in the countries with a vast population such as Thailand, Indonesia and the Philippines, where Internet connectivity remains relatively poor,” he said.

Arin stressed the importance of having an adequate digital infrastructure so that business opportunities via e-commerce, international trade and e-payments can be capitalised on throughout the region.

The JSCCIB chairman, Kalin Sarasin, concurs.

“The governments of Asean countries should invest in core digital infrastructure. This will connect people throughout the region and lead to new business opportunities,” he said.

The digital economy ministers of Asean have agreed to cooperate on improving the digital infrastructure in the region, said Pichet.

He addressed Arin’s concern over the lack of Internet connectivity in Thailand, laying out the Thai government’s plans to address the challenge.

“In 2017 we identified up to 75,000 villages in the country without Internet access. Through the Village Broadband Internet (Net Pracharat) Project, we have since then completed the installation of fibre cable networks for up to 25,000 villages,” he said.

“Our aim is to become a full-fledged broadband nation by the end of this year by completing the Internet installation for the 50,000 remaining villages,” he said.

Another important agenda is to increase the level of information sharing between Asean government agencies in order to enhance cooperation and to improve the ability to address problems at a regional level. This will, in turn, increase the ease of doing business for companies throughout the region, Prachet added.

However, he also noted that progress on this front has to begin on the domestic side, with each Asean member digitising the way their government agencies operate.

“With Thailand, we have been pushing our agencies to use one-stop services, Big Data analytics as well as the development of digital IDs,” he said.

Sak Segkhoonthod, president of the Digital Government Development Agency (DGA), recently announced that government agencies nationwide are transforming themselves for digital governance.

For example, the government expects to provide digital one-stop services from 300 government agencies within the next five years.

The final crucial issue discussed was the need to upskill and reskill the workforce within the Asean region to prepare for Industry 4.0.

“It is absolutely crucial that we increase the skills and capabilities of the workforce to cope with digital disruptions in the region,” said Arin during a sideline interview.

Management consulting firm McKinsey & Company has also expressed concerns over the need to reskill.

“Reskilling will be needed for the existing workers. We have identified up to 7 million employees in Thailand who will need to be reskilled in order for companies to digitally transform,” said Karel Eloot, senior partner of McKinsey & Company, during an interview with The Nation.

Pichet said Asean ministers are in agreement on this issue. Domestic policies to train the workforce are already in place, while a regional guideline on training the digital skills of the workforce is underway, he said.

As for Thailand, the DGA is developing a digital-skills training course for all government officers. The agency expects to upgrade 3 million government officers with digital skills in their workforce areas within the next five years.

5G in reach of 40% of world’s people in five years: Ericsson report

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Economy/30362683

5G in reach of 40% of world’s people in five years: Ericsson report

Economy January 22, 2019 01:00

By SIRIVISH TOOMGUM
THE NATION

THE 5G wireless broadband service is expected to be available to more than 40 per cent of the global population by the end of 2024, according to the latest edition of the Ericsson Mobility Report.

An estimated 1.5 billion subscriptions will sign up for 5G by the end of 2024, says the report.

The key drivers for 5G deployment include increased network capacity, lower cost per gigabyte and new use-case requirements, Wuttichai Wutti-Udomlert, Ericsson Thailand vice president and head of network solutions, said yesterday.

The 5G service worldwide is being developed mainly on the spectrum range 3.4GHz to 3.7GHz, noted Jesada Sivaraks, Ericsson Thailand’s head of government and industry relations.

The National Broadcasting and Telecommunications Commission is expected to auction the 700MHz by the end of this year for telecom operators to offer the 5G service. It wants to see 5G take off in Thailand in 2020.

According to the Ericsson report, North America and Northeast Asia are expected to lead the 5G uptake.

In North America, 5G subscriptions are forecast to account for 55 per cent of mobile subscriptions by the end of 2024.

In Northeast Asia, the corresponding forecast figure is above 43 per cent.

In Western Europe, 5G is forecast to account for some 30 per cent of mobile subscriptions in the region by 2024.

In Southeast Asia and Oceania (excluding India and China), WCDMA (wideband code division multiple access) and HSPA (high-speed packet access) still dominate wireless technology at 48 per cent of all subscriptions.

However, LTE (long-term evolution) wireless technology subscriptions grew by 70 per cent during 2018, with a 26 per cent share. This transformation is expected to continue to 2024 when LTE is projected to account for 63 per cent of all mobile subscriptions in the region.

Most Thai banks saw bump in 2018 net profits, drop in non-performing loans

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Economy/30362684

Most Thai banks saw bump in 2018 net profits, drop in non-performing loans

Economy January 22, 2019 01:00

By SOMLUCK SRIMALEE
THE NATION

NINE commercial banks and two state banks have reported a combined net profit of Bt218.29 billion last year, representing a rise of 5.3 per cent from the previous year.

Of the nine commercial banks, seven posted growth in net profit while two others – Siam Commercial Bank and CIMB (Thai) Bank – saw declines.

Two state banks, Government Savings Bank and Government Housing Bank, recorded strong growth in net profit and a drop in non-performing loans (NPL) last year, compared with their 2017 results (see graphic).

Siam Commercial Bank’s president and chief executive officer, Arthid Nanthawithaya, said the bank and its subsidiaries had a combined net profit of Bt7.1 billion in the fourth quarter of 2018, and Bt40.1 billion for 2018 (based on unaudited consolidated financial statements), a 7.1-per cent year-on-year decrease from 2017.

Arthid attributed the decline to higher operating costs during a high investment cycle, necessitated by a transformation programme. It was temporary and the bank expects the cost-to-income ratio to improve over time, he said.

The bank’s core business remained strong, while its digital customer base has expanded significantly and become more engaged, he added.

This year, the bank will direct its efforts towards realising value from the transformation programme, in terms of delivering distinctive customer experiences and a differentiated value proposition, he said.

Patchara Samalapa, president of Kasikornbank, credited the bank’s net profit increase of Bt4.12 billion or 12 per cent last year to its setting of a lower allowance aligned with assets quality.

Moreover, net interest income increased by Bt4.377 billion or 4.65 per cent, coming mainly from loans and investments.

The Government Housing Bank president, Chatchai Sirilai, said the bank saw Bt213.16 billion worth of new loans last year totalling Bt1.11 trillion, which helped boost its net profit to Bt12.61 billion, up 3.39 per cent from 2017.

It also managed to reduce of its non-performing loans (NPL) level to 4.17 per cent of total loans, from 4.21 per cent in 2017. In 2019, the bank expects to approve new loans worth Bt203.26 billion and will further reduce its NPL level to 4.02 per cent, he said.

The Government Savings Bank (GSB) announced Bt64 billion in interest rate revenue and a net profit of Bt36.31 billion last year, up 10.56 per cent and 16.38 per cent respectively from 2017, the bank’s president and chief executive officer, Chatchai Payuhanaveechai, said at press conference recently.

The bank also reported a drop in NPLs to 2.15 per cent, lower than the average in the banking system.

News Feed

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Economy/30362685

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News Feed

Economy January 22, 2019 01:00

By The Nation

THAI EXPORTS HIT RECORD IN 2018, BUT BELOW TARGET

The total value of Thai exports fell below target last year amidst the ongoing US-China trade dispute, but still hit a record high at US$252.486 billion (Bt8.0 trillion).

Pimchanok Vonkorpon, director-general of Ministry of Commerce’s Trade Policy and Strategy Office, said that Thai exports rose 6.7 per cent in 2018, lower than the target of 8 per cent. He blamed the continuing US-China trade war, which has disrupted the global trade and slowed down several countries’ imports, along with technology changes in several countries including electronic products.

In addition, Thai shipments to most major markets have seen a slowdown.

In December 2018, Thai exports contracted 1.71 per cent over the previous year to $19.38 billion. That followed the previous month’s 0.95 per cent shrinkage year on year, due mainly to drop in the shipment of electronic products.

Thai shipments of computers and components contracted 16.9 per cent and those of printed circuit boards shrank 4.5 per cent in December last year, due to the retaliatory tariff actions of the United States and China.

Thailand and other countries around the world have felt the trade war since the latter half of 2018. In the last month of the year, Thailand saw a 0.5 per cent contraction in its shipments to major markets, along with lower shipments to the European Union (EU).

Thai shipments to China shrank as much as 7.3 per cent in the month. However, Thai shipments to Asean and South Asia continued to expand.

Thai imports last December shrank 8.2 per cent to $18.316 billion. As a result, Thailand had a trade surplus of $1.065 billion in the month.

For the whole of last year, Thai imports increased 12.5 per cent to $249.232 billion and the country had a trade surplus of $3.255 billion.

Pimchanok said that December’s export contraction came from a 6.6 per cent decrease in Thai shipments of agricultural and agro-industry products and a 0.8 per cent decline in those of manufacturing goods. The trade war also shed $239.8 million off Thai exports during the month.

Among Thai shipments of agricultural and agro-industry products, rubber plunged by 32.3 per cent, tapioca by 22.8 per cent, frozen and processed shrimp by 13.2 per cent, rice by 5.5 per cent and other foods by 3.3 per cent.

Electronic products led the fall in Thai shipments to other countries, slipping by 13.5 per cent, while motorcycles and components dropped by 4.4 per cent and electrical appliances decreased by 1.7 per cent.

For the whole of last year, the trade dispute hit Thai exports by $382.1 million. Thai shipments declined by 41.6 per cent, or $421.5 million, as a result of direct impacts from the US tariff increase, while shipments of Thai products, as parts of the supply chain to China dropped by 5.8 per cent or $438.6 million. However, Thailand in sales of replacement products to the US, with an advance of 9.6 per cent or $478 million in Thai shipments to the US. “We hope that [US-China] trade negotiations will help improve Thai exports in the second quarter [of this year],” Pimchanok said. “As well, there are the matters of the baht appreciation, economic and financial fluctuations in emerging countries as a result of several countries’ shift in monetary policy, and the high export base in some product groups.”

Panel approves PPP fast-track investment in Orange Line and housing projects

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Economy/30362665

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Panel approves PPP fast-track investment in Orange Line and housing projects

Economy January 21, 2019 18:39

By The Nation

2,288 Viewed

The Public-Private Partnership (PPP) Committee has approved the plan for a Bt235.32-billion investment in the Orange Line rail route from Bang Khun Nont to Min Buri.

Investment in the project will proceed under the PPP Fast Track process, Pantip Sripimol, an adviser for state-enterprise development at the State Enterprise Policy Office, said after the panel’s meeting on Monday.

The committee also approved PPP Fast Track investment to develop residential projects around the capital’s mass-transit system.

These will be developed by the National Housing Authority and the private sector at a combined cost of Bt4.23 billion, Pantip added.

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