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Home Blog Page 3579

U.S. Ambassador praises Thailand’s investment potential

National news Thailand

Jul 5, 2020

BANGKOK(NNT) – The U.S. Ambassador to Thailand has praised the country’s high investment potential, highlighting the expansion of current projects and further support for industry as ways to promote further cooperation.

Deputy Prime Minister Somkid Jatusripitak welcomed the U.S. Ambassador to Thailand, H. E. Michael George DeSombre, who made a courtesy at the start of his mission in Thailand.

The DPM and the ambassador discussed cooperation between the U.S. and Thailand, to help strengthen the economies in both countries and promote more investments by U.S. investors in Thailand.

The U.S. ambassador said Thailand has the potential and suitability for U.S. companies to invest, with a great potential to be part of the supply chain of the South East Asian region.

DPM Somkid said the U.S. ambassador is highly enthusiastic about the development of economic relations between the U.S. and Thailand, revealing that the U.S. ambassador proposed ideas on what industries should receive more support from both sides.

The ambassador expressed his confidence that Thailand will become a technological hub of the region, with great growth potential in the manufacturing and service sectors, as well as stock exchanges that can connect to Hong Kong and Shenzhen.

He said Thailand also provides good medical services, which can be expanded to reach more clients, adding that the related agencies are ready to develop mutual exchange packages between Thailand and U.S. through the Board of Investment (BOI), to promote competitiveness and attract investment.

The DPM said Thailand does not need standalone investment from individual companies, but demands investment packages, which the U.S. ambassador said he will be proposing soon.

Mr Somkid has also stressed that he is still working on the country’s domestic and international economic affairs, while refusing to comment regarding the recent political developments in Palang Pracharath Party.

The economic ministers will convene next Friday to discuss two main economic packages.

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8.3 million Thai workers will lose employment or income in 2020 says World Bank

Thailand Business News

Jul 3, 2020

8.3 million Thai workers will lose employment or income in 2020 says World Bank

Thailand’s economy is expected to be impacted severely by the COVID-19 pandemic, shrinking by at least 5 percent in 2020 and taking more than two years to return to pre-COVID-19 GDP output levels, according to the World Bank’s latest Thailand Economic Monitor, released yesterday.

An estimated 8.3 million workers will lose employment or income by the COVID-19 crisis, which has put many jobs, in particularly those related to tourism and services, at risk.

9.7 million economically insecure people

The report finds that the number of economically insecure, or those living below USD 5.5 per day (in purchasing power terms), is projected to double from 4.7 million people in the first quarter to 9.7 million people in the second quarter of 2020.

In particular, the share of economically insecure middle-class households with workers in the manufacturing and services sector will rise by three-fold, from 6 percent to 20 percent.

“As the recovery phase begins, a key challenge will be how to help people who lost their jobs reconnect with the labor market. Active labor market measures, such as wage-subsidies targeted to individuals in the most vulnerable sectors, and for on-the-job training to promote reemployment should be explored.”
Birgit Hansl, World Bank Country Manager for Thailand

Severe economic impact

While Thailand has been successful in stemming the tide of COVID-19 infections over the last three months, the economic impact has been severe. The tourism sector, which makes up close to 15 percent of Thailand’s GDP, has been hit hard, with a near cessation of international tourist arrivals since March 2020.

Exports…

Read the complete story on Thailand Business News

Amazing Thailand SHA certification steps up information sharing and outreach

Tourism Authority of Thailand

Jul 3, 2020

Bangkok, 03 July, 2020 – The Ministry of Tourism and Sports (MoTS), the Tourism Authority of Thailand (TAT) and the Office of National Broadcasting and Telecommunications Commission (NBTC) have joined together to build confidence in the country’s tourism industry by clearly communicating safety and hygiene measures in place for the return of visitors.

The collaborative effort between the MoTS, TAT and NBTC expands the existing ‘Amazing Thailand Safety and Health Administration’ (SHA) project, a unique certification scheme aimed to prepare the Thai tourism industry for the recovery period post-COVID-19 pandemic and enhance confidence amongst international and domestic tourists.

Mr. Yuthasak Supasorn, TAT Governor (left), H.E. Mr. Phiphat Ratchakitprakan, Minister of Tourism and Sports (centre), and Colonel Natee Sukonrat, Vice Chairman of the NBTC (right).

H.E. Mr. Phiphat Ratchakitprakan, Minister of Tourism and Sports, said that the Amazing Thailand SHA project assists and encourages tourism companies to prepare and develop best practices in line with the new way of life during the on-going COVID-19 outbreak.

“Our objective is to improve businesses practices to be in line with so-called ‘New Normal’ way of life. In addition to the operators offering goods and services of high-quality standards, now is the time to introduce standard practices for safety and hygiene at tourist attractions and offices.

“The NBTC will publicise, communicate, and build awareness of safety and hygiene standards in the tourism industry, for Thai and foreign tourists to travel safely while using products and services around Thailand with confidence.”

According to Colonel Natee Sukonrat, Vice Chairman of the NBTC, the Commission is ready to cooperate with the Ministry of Tourism and Sports and TAT and is considering new platforms to get the word out following the COVID-19 epidemic.

“We are considering delivering short SMS messages via the Travel Sim Card through all mobile network service providers, so that tourists receive direct communication from the government .This way we can disseminate news, create awareness, and promote behaviour for people and tourists to travel safely. Since the NBTC is an independent government organisation, it has the power and can supervise both radio broadcasting and television to maximise benefits for the public,” Colonel Natee, said.

Mr. Yuthasak Supasorn, TAT Governor, said that 3,808 tourism industry businesses and attractions have been evaluated or were participating in the Amazing Thailand SHA project.

“Through the collaboration with the NBTC, TAT will focus on expanding the public relations of the Amazing Thailand SHA project with all mobile network operators to send short messages via the Travel Sim Card that is available at all of Thailand’s international airports. It will be sent directly to the public and tourists to create public awareness and confidence in safety and sanitation standards around Thailand.”

To begin with, the short texts will be sent in three languages, Thai, English and Chinese, with generic messages; such as, “Welcome to Thailand: SHA. Creating confidence while travelling in Thailand.” For more information about the SHA standards, please go to www.thailandsha.com.

The post Amazing Thailand SHA certification steps up information sharing and outreach appeared first on TAT Newsroom.

Read the complete story here

Chulalongkorn University vaccine development shows promise

National news Thailand

Jul 3, 2020

BANGKOK(NNT)-Since scientists from the Faculty of Medicine, Chulalongkorn University, gave a COVID-19 vaccine candidate to monkeys on May 23, 2020, the results look promising, as the vaccine generated an immune response in four out of five monkeys that received the first doses.

Dr. Kiat Ruxrungtham, director of Chulalongkorn University’s coronavirus vaccine development team, said the team used a DNA-based vaccine, an mRNA-based vaccine and a protein-based vaccine. Initially, they were tested on mice. The mRNA-based vaccine was administered to monkeys. The team cannot draw any conclusions yet, but the vaccine appeared to stimulate an immune response in most of the monkeys.

The team will have to wait for two weeks before the second doses are administered. If all the monkeys develop an immune response, the trial will be an initial success. The vaccine will then be delivered to the United States and Canada for production. They will produce some 10,000 doses, which will be tested on 5,000 human volunteers. If the results are good, the vaccine can then be mass produced.

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Commerce Ministry holds Back to School sale

National news Thailand

Jul 3, 2020

BANGKOK(NNT) – To help ease financial burden faced by parents at the beginning of a new school year, the Ministry of Commerce is now offering up to 80 percent discount on school uniforms and supplies in its Lot 5 Back To School campaign.

Deputy Prime Minister and Minister of Commerce Jurin Laksanawisit has observed the Lot 5, Back To School sale event at Suksapan Panit Lad Phrao store.

Back to School items are being sold there with special discounts, with school uniforms for sale with 5-6 percent off, shoes and socks at 15-18 percent off, student bags at 15-50 percent off, notebooks and textbooks at 10-70 percent off, stationary at 10-50 percent off, learning media at 10-70 percent off, as well as other items at up to 80 percent off.

The campaign is designed to help parents cut back on costs related to their children’s new school year. The Ministry of Commerce has reached out to the manufacturers and resellers to offer these special discounts.

The Lot 5 Back To School sales campaign is taking place until 15th July, and is expected to help about 10.4 million people save no less than 1 billion baht in total.

Meanwhile, the Ministry of Commerce has been monitoring the sale of school uniforms and supplies during this period to prevent price gouging, and is yet to receive any complaint regarding unfair pricing.

On news of a mother stealing a school uniform from a shopping mall for her child, the Minister of Commerce said he has sympathy for the parent, and encourages people facing difficulties obtaining school uniforms or supplies, to contact the Ministry of Education and the Ministry of Social Development and Human Security for assistance.

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Flood Waters in China won’t affect Mekong river in Thailand

National news Thailand

Jul 1, 2020

BANGKOK(NNT) – Thailand’s National Water Administration has reported that severe flooding in China won’t cause the water level in the Mekong river to rise, and Thailand will not be affected.

Due to continuous heavy rain, the Chinese authorities have taken emergency steps to discharge water from several dams and reservoirs. The national water administration of the Thai government is closely monitoring the water situation in China, and has reported that the Mekong river will not be affected since it follows a different course. China will first notify member states comprising Lancang-Mekong Cooperation (LMC), if it decides to discharge more water from the Jinghong dam into the Mekong river.

Yesterday, the water level in the Mekong remains low and is expected to remain stable. Water stations in Thailand’s Chiang Rai and Ubon Ratchathani provinces, Laos’ Luang Prabang and Pakse cities and China’s Jinghong city reported that water levels in their areas are still below critical levels.

The main source of water flowing into the Mekong river comes from melting snow on the Tibetan plateau. The water also flows into the Yangtze and Salween rivers. The Mekong River, known in China as Lancang Jiang, enters its lower reaches where it borders China, Laos, Myanmar and Thailand in the Golden Triangle.

In Thailand, the water flows past the provinces of Chiang Rai, Loei, Nong Khai, Bueng Kan, Nakhon Phanom, Mukdahan, Amnat Charoen and Ubon Ratchathani, covering a distance of 1,520 kilometers. The river then enters Laos and Cambodia, before reaching the South China Sea in Vietnam. The Mekong river has a length of about 4,880 kilometers, with 795,000 square kilometers of river network.

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Thai Cabinet approves three packages to boost domestic tourism – Tourism

Thailand Business News

Jun 29, 2020

The Cabinet has approved three tourism campaigns, aimed to kick start the recovery of the tourism sector from July to October.

Thailand’s Cabinet approved three packages intended to boost Thailand’s declining tourism industry, hit hard by the COVID-19 pandemic.

The funding for the three packages will come from the 1.9 trillion baht budget intended to cushion the impacts on the economy and the Thai people from COVID-19 pandemic.

Medical personnel given 2000 baht to travel

The first package is intended to provide incentives to about 1.2 million front-line medical personnel and public health volunteers. Each will be given 2,000 baht travelling expenses for two days and one night. The package is estimated to cost the taxpayer 2.4 billion baht.

The second package is intended to encourage two million people to travel and spend. Each will be given 1,000 baht to cover 40% of their travel by air, public bus or by rented car. The cost of this package is estimated at 2 billion baht.

40% discount on hotel expenses

The third, which will cost an estimated 18 billion baht, will cover 40% of the hotel expenses of customers, for room rates not exceeding 3,000 baht per night, and food expenses. Hotels wanting to join this program must register with the state-owned Krung Thai Bank.

In the…

Read the complete story on Thailand Business News