ASEAN Secretariat today held a special lecture entitled “Trading for Development in the Age of Global Value Chains” which was delivered by Dr. Aaditya Mattoo, Chief Economist of the East Asia and Pacific Region of the World Bank. Deputy Secretary-General for the ASEAN Economic Community Dr. Aladdin D. Rillo opened the lecture and moderated the discussion.
Transport Ministry to promote rail transport to 30% of national…
BANGKOK(NNT) – The Ministry of Transport is working to increase the utilization of the railway network, to transport more passengers, ordering the Department of Rail Transport to improve services and make transportation by rail 30 percent of national logistics.
The Minister of Transport Saksayam Chidchob has delivered policies requiring the Department of Rail Transport to adopt operational practices from countries known for excellent rail network development, in Thailand, with the goal being to increase rail transport volume to 30 percent of the national logistics, helping reduce logistics costs and better serve passengers.
The Transport Minister has ordered the rail department to renovate level crossings and set up fences along railways to prevent accidents, as well as communicate with the general public on the necessity of infrastructure development projects, some of which may affect the livelihoods of certain communities.
He then urged the Office of Transport and Traffic Policy and Planning, to ensure that development projects are not only concentrated in urban areas; to ensure the effects of construction projects on villagers are carefully considered, and to work together with related agencies to help affected persons. The office is in charge of national logistic development planning for land, water, air and rail transport.
The Minister of Transport has ordered related agencies to follow up on other policy tasks, including the vehicle speed limit increase from 90 kilometers per hour to 120 on all roads with four or more lanes, and the implementation of technology for traffic and construction management.
GHB adopts Finance Ministry’s policy to help people buy houses
BANGKOK(NNT) – The Government Housing Bank (GHB) has prepared some 100 billion baht in credit, to help people at all income levels to buy houses.
Finance Minister Uttama Savanayana delivered the policy for the GHB to help people buy a house of their own in an effort to reduce social inequality and stimulate the national economy by supporting the real estate sector, which includes construction and employment sectors.
Data on over 3.7 million customers of the GHB will be processed and linked with data on state welfare cards and the Taste-Shop-Spend campaign so that they can be of use in the future.
GHB Managing Director Chatchai Sirilai said the bank has prepared the 100 billion baht credit to support the government policy and stimulate the economy during the first half of this. The credit will cover 30 billion baht for the Baan Sarn Rak project, loans for those who earn a maximum of 35,000 baht monthly and buy a house for a maximum of three million baht. Such a house loan will carry a 3% interest rate per annum for the first three years. The GHB credit will include 10 billion baht for the Dream Home project for those who earn more than 35,000 baht monthly with a 2.65-2.7% interest rate for the first three years.
About 10,000 GHB customers, who are government employees, and currently owe a combined 8.3 billion baht in debt to the bank, will be provided a 50% cut in repayment installments and no interest for a six-month period. Such advantages for GHB customers will be considered by the bank’s executive board on Tuesday, before being forwarded to the cabinet for approval.
Thai Exports fell for fifth straight month, down 2.65% in 2019
The Commerce Ministry reported on Wednesday that customs-cleared exports fetched $19.15 billion in December, down by 1.28%
For December, outbound shipments fell for the fifth straight month, but improved from a 7.39% plunge in November. Exports fell by 4.5% in October, 1.4% in September and 4% in August, respectively.
The Trade Policy and Strategy Office (TPSO) has indicated that the gross value of Thai exports last year was 246.244 billion U.S. dollars, showing a 2.65 percent decline from the previous year, due to the U.S.-China trade war and the strong Thai baht.
Apart from the global slowdown, we also have to deal with the strong baht which is too much to bear for Thai exports. But we are doing better than South Korea.
PIMCHANOK VONKORPON, DIRECTOR-GENERAL OF THE TRADE POLICY AND STRATEGY OFFICE
Exports to China decreased 3.8% to $29.1 billion. Companies are believed to be buying less parts for their Chinese production hubs, with shipments of rubber products down 15% and computers and parts down 9% according to a Nikkei report.
U.S. overtakes China as first destination
Thai exports to the U.S. increased 11.8% to $31.3 billion in 2019, while exports to China decreased 3.8% to $29.1 billion, as customers there looked for alternatives to Chinese-made products, making the U.S. Thailand’s biggest trade partner for the year over China.
The impact of the trade war on Thai exports has stabilised and begun to decline in recent months, owing…
Transport Ministry launches
BANGKOK (NNT) – The Ministry of Transport has opened the “MOT Your Social” to receive suggestions and complaints from members of the general public and to inform them about the ministry’s projects.
The Permanent Secretary for Transport, Chaiwat Thongkamkoon, said after presiding over the launch of the “MOT Your Social” project today, that it will serve as a channel for members of the public to send their suggestions and complaints related to different modes of transport to the ministry at any time around the clock. They can send their suggestions online or reach the ministry’s call center, and they will receive a response within three days. The “MOT Your Social” consists of a YouTube channel to inform the public about the ministry’s projects, along with other news and activities; the “MOT Public Hearing”, a website that provides information about the government’s policies and work progress; and the 1356 Call Center. Ten more lines have been added to the call center.
People can call the 1356 Call Center around the clock to report complaints or request any information they need related to the Ministry of Transport. The ministry will gather all suggestions and complaints to further enhance its functions and services for the people’s benefit.
Thailand’s Chinese New Year 2020 Celebrations
Bangkok, 17 January, 2020 – The Tourism Authority of Thailand (TAT) has lined up several celebrations to mark the Chinese New Year 2020 from 24-30 January at various major destinations across Thailand with some locations starting on earlier dates and some finishing on later dates.
With some 14% of the Thai people having some Chinese ancestry, Chinese New Year is a big event in the kingdom and people celebrate with friends and family all over the country. This year will be the Year of the Rat and as usual, areas with a big Chinese population will be hosting a range of special events, parades and dragon dances.
The biggest celebrations are normally found in Bangkok, Chiang Mai, Nakhon Sawan, Phuket, Trang and Udon Thani. But the most popular party for Chinese New Year takes place in Bangkok’s Chinatown when the main street of Yaowarat turns red from end to end with banners and lanterns. There are dragon parades and acrobatic performances to enjoy as well as stalls selling tasty Chinese treats.
If you are in Bangkok for the New Year, it is traditional to make merit by visiting Wat Mangkon Kamalawat on Charoen Krung Road and pay respect to the images of the Chinese Gods. Many people have their fortune told using kau cim or chien tung sticks, which are shaken from a bamboo case and the first stick to fall out relates to a certain fortune. You can find out if the Year of the Rat will be a lucky one for you.
Thailand’s Chinese New Year 2020 will be held in various major cities with spectacular highlights, including:
BANGKOK
Chinese New Year Celebration 2020 at Siam Square
24-26 January – activities include Chinese New Year blessings by Thailand’s Minister of Tourism and Sports and China’s Minister of Culture and Tourism on 24 January, 2020, 17.00 Hrs.: Cultural performances from China (disabled dance troupe from Beijing, dance and musical troupe from Jiangxi, acrobatic troupe from Shanxi, Kung Fu troupe from Henan, dance troupe from Jilin, and dance troupe from Inner Mongolia); venue decorations in Chinese style with an auspicious tunnel and the chance to pay homage to Chinese gods; cooking demonstrations of auspicious food and desserts; Chinese cultural demonstrations including Chinese calligraphy and Xiangqi (Chinese chess), and performances by Thai pop stars.
Chinese New Year Celebration 2020 on Yaowarat Road
25-26 January – The opening ceremony on 25 January will be presided over by Her Royal Highness Princess Maha Chakri Sirindhorn together with senior officials from Thailand’s Minister of Tourism and Sports, TAT, and China’s Minister of Culture and Tourism.
The two-day event will feature Thai-Chinese cultural exchange performances including a disabled dance troupe from Beijing and dance and musical troupe from Jiangxi on 25 January, and dance troupe from Jilin on 26 January. TAT will have a booth to hand out its 60th anniversary commemorative coin – the head of the coin is the image of the Golden Buddha of Wat Traimit Withayaram Worawihan. The tail image marks the ‘Year of the Rat zodiac sign for 2020 painted by Mr. Han Meilin, China’s national artist, plus Chinese language inscription wishing all for a happy, prosperous, and safe year.
Other notable events include an art exhibition of zodiac signs by China’s national artist Mr. Han Meilin, from 21 to 27 January, 2020, at the Fashion Hall, Siam Paragon, and from 20 January to 9 February, 2020, at the China Cultural Centre in Bangkok.
On 22 January, there’s a special performance by a disabled dance troupe from Beijing, a CSR activity to inspire people with disabilities in Thailand, at the China Cultural Centre in Bangkok.
SUPHAN BURI
Suphan Buri Chinese New Year 2020 at the Dragon Descendants Museum
25-27 January – at the Dragon Descendants Museum with activities include paying respect to the images of the Chinese Gods at night and enjoying cultural performances on ‘dragon descendants’ plus shows by local youth groups and Thai pop stars, and a Chinese food fair.
RATCHABURI
Ratchaburi Chinatown 2020 on Amarin and Woradech Roads, Amphoe Mueang, Ratchaburi.
24-27 January – activities include a beauty pageant and talent contests, cultural performances by students, light-and-sound presentation, fireworks display, cooking show of longevity noodles – one of the seven lucky foods to eat during CNY, and a Chinese New Year parade.
NAKHON SAWAN
Chao Pho-Chao Mae Pak Nam Pho Traditional Parade (Nakhon Sawan Chinese New Year)
on Rim Khuean Road, Amphoe Mueang, Nakhon Sawan
18-29 January – 12 days and 12 nights of activities including performances by Thai singers and bands, lucky draws and games, several activities to ward off bad luck according to Chinese belief, and the spectacular procession Chao Pho-Chao Mae Pak Nam Pho and Chao Mae Kuan-im (Guanyin), acrobatic performances, dragon parades, lion dances and Chinese Gods parades.
CHIANG MAI
Chiang Mai Chinatown Chinese New Year on Chiang Moi Road, Witchayanont Road and Lao Jow Alley
24-26 January – cultural performances from China by a dance troupe from Inner Mongolia, beauty pageant and talent contests, lion dances, fire dragon shows and a Chinese food fair.
SONGKHLA
Hat Yai Chinese New Year at the Srinakorn Foundation School
25-29 January – activities include paying respect to the images of the Chinese Gods, concerts by famous Thai artists, Miss Chinese Hat Yai 2020 and Chinese Kids 2020 contests, open-air cinema, and lucky draws.
Mittraphap Samakee Foundation’s Chinese New Year at the Mittraphap Samakee Foundation, Hat Yai
25 January-3 February – cultural shows including Chinese opera, Thai folk theatre or likay, Manorah dance, and other stage performances by Thai singers and bands, a Chinese New Year parade, a ceremony to ward off bad luck, and a Chinese food fair.
PHUKET
Phuket Retro Chinese New Year at the Phuket Old Town area
30 January-1 February – celebrating Phuket in the years past showcasing Phuket’s charming Sino-Portuguese architecture in the Old Town, cultural performances from China (dance from Jiangxi, acrobatic from Xian, and Kung Fu from Henon), spectacular Chinese New Year parade, colourful lighting and lantern decorations, cooking shows of Phuket’s delicacies, and a food fair.
UDON THANI
Udon Thani Chinese New Year on Prajak Silapakom Road
24-26 January – pay respect to the images of Chinese Gods and the principal image of Guanyin – at over eight metres in height, join ceremonies to ward off bad luck, lion dances, beauty pageant and talented kids contests, and a food street fair.
NAKHON RATCHASIMA
Nakhon Ratchasima Chinese New Year in the area of the Thao Suranari Monument
25-26 January – activities include a walking street, lion and dragon parades, pay respect to the guardian spirits of the city at nine famous shrines, and a Chinese food fair.
PHETCHABURI
Phetchaburi Chinese New Year on Surin Ruechai road, Amphoe Mueang, Phetchaburi
24-25 January – cooking show of longevity noodles – one of the seven lucky foods to eat during CNY, pay respect to the images of Chinese Gods, Chinese cultural performances and arts, as well as lion and dragon dances.
CHON BURI
Pattaya Chinese New Year in the area of Pattaya Klang Beach and Pattaya Walking Street
25 January – activities include Thai-Chinese cultural performances, lion and dragon dances, an exhibition on Chinese New Year and concerts by famous Thai singers and bands.
Chinese New Year at Chak Ngaeo Community, Bang Lamung District, Chon Buri
25 January – activities include cultural learning on Chinese opera mask painting at an old opium den and an old Chinese opera theatre, Chinese dance lesson at a local school, lion dances, Chinese calligraphy, and pay respective to the image of the revered Chao Mae Thapthim (the Chinese sea goddess Mazu).
Ko Si Chang Chinese New Year, Amphoe Ko Si Chang
25 January-31 March – pay respect to the image of Ko Si Chang’s revered Chao Pho Khao Yai and the image of Chinese Gods and join ceremonies to ward off bad luck.
Dharma Rasami Maneerat Foundation’s Chinese New Year, Ang Sila, Chon Buri District
25-27 January – a ceremony to pay respect to the principal God of the Dharma at the Rasami Maneerat Foundation and related rituals for good luck.
TRANG
Trang Chinese New Year in front of Trang City Municipal Office near the Trang Clock Tower
24-25 January – activities include light-and-sound shows, local cultural performances, an exhibition on Trang and variety of Chinese food, beauty pageant, talented kids contests, and a local fair.
Bank cuts Thai 2020 GDP growth outlook to 2.7%
SCB’s Economic Intelligence Center (EIC) has released its latest forecast, indicating that the Thai economy at the end of 2020 will have grown by 2.7 percent, showing a s recovery from just 2.5 percent economic growth in 2019, thanks to a better performing export sector and improved global economy.
Earlier this week the World Bank also downgraded Thailand’s economic growth outlook for this year to 2.7% .
The EIC expects the Bank of Thailand to maintain the policy rate at 1.25 percent per annum. The center is keeping a close eye on uncertainties between the U.S. and China; the U.S. and EU; the U.S.-Iran conflict; Brexit, and the financial fragility in households and businesses.
The forecast indicates that the Thai economy will still face challenges from the strong Thai baht currently between 29.5 and 30.5 baht per U.S. dollar; the slowdown in consumption and private investment; employment issues; household debt, and the drought disaster.
In 2019, declining exports and growing weaknesses in domestic demand weighed on Thai economic growth.
The baht, which has appreciated by 8.9% since last year, has also dealt a blow to international tourism and merchandise exports, the World Bank said.
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US-China trade rapprochement round one
Author: Yao Yang, Peking University The conclusion of phase one of the trade negotiations between the United States and China has been welcomed by global markets because it has brushed off many uncertainties caused by the tense relationship between the world’s two largest economies over the past two years. According to the now publicised text, […]
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