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The Secretary-General of ASEAN, H.E. Dato Lim Jock Hoi held Bilateral Meetings at the sidelines of the 14th ASEM Foreign Ministers’ Meeting

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The Secretary-General of ASEAN, H.E. Dato Lim Jock Hoi held Bilateral Meetings at the sidelines of the 14th ASEM Foreign Ministers’ Meeting

H.E Dato Lim Jock Hoi, Secretary-General of ASEAN, met with H.E. Ine Marie Eriksen Søreide, Minister of Foreign Affairs of the Kingdom of Norway; H.E. Roberto Balzaretti, State Secretary for European Affairs of Switzerland; H.E. Jean-Baptiste Lemoyne, Minister of State attached to the Minister for Europe and Foreign Affairs of France; and H.E. Ivan Scalfarotto, Undersecretary for Foreign Affairs of Italy, at the Sidelines of the 14th ASEM Foreign Ministers’ Meeting (ASEM FMM14) on 15-16 December 2019 in Madrid.

*From left to right

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Mahidol University, University of Bristol jointly conduct research on antibacterial resistance

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BANGKOK(NNT) – Each year in Thailand, about 80,000 people get an antibiotic-resistant infection, which can be fatal. Now, educational institutions in Thailand and the United Kingdom have jointly launched a research project titled “One Health Drivers of Antibacterial Resistance in Thailand”, aimed at improving infection prevention and control.

The “One Health Drivers of Antibacterial Resistance in Thailand” research project is a collaboration between Thailand’s Mahidol University and the University of Bristol in the UK, with support from Chulabhorn Research Institute and its network partners. The Dean of the Faculty of Social Sciences and Humanities of Mahidol University, Dr. Luechai Sringanyuang, said today that antibacterial resistance has become a global health threat as bacteria have developed mechanisms to neutralize the action of antibacterial agents.

In Thailand, some 80,000 patients with an antibiotic-resistant infection, present for treatment each year. Drug resistant infections could reduce the country’s gross domestic product (GDP) by 0.6%, or at least 40 billion baht.

Main factors associated with antibiotic resistance include microbes, livestock, healthcare, agriculture and changing lifestyle. Cooperation by all sectors is needed to address the issue in a sustainable way. This research project will be used to create guidelines for the development of measures to improve infection prevention and control.

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BOI steps up investment promotion measures in the EEC

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BANGKOK(NNT) – The Board of Investment of Thailand (BOI) has approved measures to promote investment in the Eastern Economic Corridor (EEC) by expanding the number of target industries and increasing corporate income tax benefits.

A meeting of the BOI, chaired by Prime Minister and Defense Minister, Gen. Prayut Chan-o-cha, approved the measures to attract more investors to the EEC.

The first measure is to expand target industries and businesses in the EEC, such as industries in the advanced technological development and supporting industries.

The second measure is to increase corporate income tax benefits, which cover human resource development and location. Companies in the A1, A2 and A3 business categories will be entitled to a 50% reduction in corporate income tax for three more years, while technological industries and businesses will enjoy corporate income tax exemption for two additional years.

Companies located in the EEC’s Innovation Zone, Industrial Promotional Zone, Digital Innovation Zone, Eastern Aviation City and the EECmd in Thammasat University, Pattaya Campus, will receive a 50% reduction in corporate income tax for two more more years.

Targeted sectors in technological development located in the EEC will enjoy corporate income tax exemptions for another year.

The measures will be in effect from January 2, 2020, to December 2021. Applicants can sign up for the new privileges, with no deadline set for registration.

The BOI meeting also approved measures to support small and medium-sized enterprises (SMEs). The meeting agreed that both the government and the private sector have to adjust their…

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5G auction next year

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BANGKOK(NNT) – The move to the fifth generation (5G) of mobile technology is vital to Thailand in the digital era. With the National Broadcasting and Telecommunications Commission (NBTC) having started 5G testing, the government is confident that a 5G spectrum licence auction will be held next year.

The Deputy Prime Minister, Gen. Prawit Wongsuwan, presided over the opening of a seminar on the impact of 5G on the Thai economy. Gen. Prawit said the the debut auction of 5G spectrum will take place in February 2020, which is in line with the government’s road map and other countries. The 5G technology will play an important role in economic reform, strengthen the industrial sector, drive the country’s competitiveness and contribute to the economy in the long term. It will also bring positive changes in social development, such as reducing income disparity, giving people more access to information, education, medical and public health services and improving social welfare.

The government is aware of the various challenges to 5G adoption, and all sides have to adapt to the changes. Telecommunication companies must ensure that the people will benefit from this technology. The business sector should capitalize on 5G as means to add value to their products and services. At the same time, members of the public should learn and understand the benefits of 5G.

Gen. Prawit added that, if Thailand fails to launch 5G on time, new skills will not be developed and the Thai economy will be left behind other nations.

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Asia Pacific REITs raise a record amount of US$14 billion in 2019 – Investment, Markets, Real Estate

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Real Estate Investment Trusts (REITs) in the Asia Pacific region have raised a record amount of capital this year, as investors sought more defensive, yield-based stocks amid growing global economic and political uncertainty.

REITs in Asia Pacific have raised over US$14 billion so far in 2019, surpassing the previous record of US$13.8 billion in 2013, according to JLL data.

“This has been a particularly impressive year for REITs. Most major REITs are now trading at a premium to their underlying valuation, which has improved their ability to raise follow-on equity.”

JLL’s Nicholas Wilson, Head of Asia Pacific Capital Markets

Demand from institutional investors has also provided for a fertile environment for launching new REITs on public exchanges. Capital targeting the direct market remains plentiful, resulting in a highly competitive marketplace.

Initial public offerings (IPOs) that are seeded with well-managed core assets largely have been successful in attracting investors.

Sectors in the spotlight

REITs in the logistics sector have pulled in around a third of all capital raised, even though their current share of the REIT market capitalization stands at just 12 percent. This is because warehouses have become increasingly important over the last decade amid the rise of e-commerce, which requires speedy delivery of goods from a wide network of facilities.

A rapidly growing population and strong economic growth in the region have also given it a boost.

“The logistics sector remains the most in-demand asset class around the Asia Pacific region,” Wilson says.

“However, the level of transaction volumes is falling well short of demand. The supply of international grade-A logistics stock is also below requirement in most markets, so…

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Cambodia’s economy in the post-EBA era

Author: Pheakdey Heng, Enrich Institute It has been yet another impressive year for Cambodia’s economy. Thanks to continued strength in traditional sectors such as garments, tourism, trade and construction, Cambodia’s GDP grew 7 per cent in 2019 — the highest growth in the ASEAN region according to the IMF. While this impressive growth is a […]

The post Cambodia’s economy in the post-EBA era appeared first on Thailand – China.

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TV stations join no single-use plastic bags campaign

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BANGKOK(NNT) – The Department of Environmental Quality Promotion (DEQP) has signed an agreement with eight TV stations to discourage the availability of single-use plastic bags by censoring scenes showing the bags in programs, while major shops and stores will officially discontinue offering these bags from 1st January.

The Minister of Natural Resources and the Environment Varawut Silpa-archa, ministerial officials, and executives from NBT, MCOT, ThaiPBS, Workpoint TV, ONE31, GMM25, Channel 8, and Channel 7, have signed the Censor Plastic Bags campaign in the hope of helping change consumer behaviour from taking single-use plastic bags from stores, to use their own multi-use fabric bags instead, when shopping.

Television media is recognized as a media channel that reaches most people, and can effectively help in promoting an environmentally conscious mindset among audiences. The campaign targets the general audience watching television dramas and other programs.

The Natural Resources Minister said that the campaign aims to reduce images of single-use plastic bags being broadcast, and stressed the campaign where 90 major shopping malls and store chains will discontinue offering plastic bags to customers from 1st January 2020 onwards.

After d-day, customers will have to bring their own bags to carry their purchased items. It is anticipated the move will significantly help reduce plastic bag waste that accounts for 80 percent of the 2.7 million tons of yearly garbage in Thailand. Anti-plastic bag campaigns this year have so far stopped some three billion plastic bags from being distributed.

Thailand used to rank as the 6th largest source of marine debris. Following the anti-plastic bag campaign, the country is now ranked 10th. This shows that most Thai people are ready to change their behaviour and stop using disposable plastic bags.

The discontinuation of plastic bags being offered at stores from 1st January will help cut down national plastic bag usage by 30 percent, or about 12 billion bags a year. Future cooperation by local grocery stores, fresh markets, and community shops by also not offering these bags would help reduce national plastic bag usage by 60 percent, or 20-30 billion bags a year.

Under the agreement with TV stations, parts of programs showing plastic bags being used will be cut out or censored to minimize exposure to audiences. Other content will be broadcast to encourage the use of reusable bags instead, to raise public awareness, and encourage audiences to change their behaviour. The DEQP expects more TV stations will join the campaign in the future.

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S&P upgrades Thailand’s sovereign rating outlook top positive

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Thailand Business News

S&P said the positive outlook was a signal that the sovereign rating could be raised over the next 24 months “if there are clearer signs the key political players are committed to the current political framework and that abrupt and unexpected political changes become unlikely”.

S&P Global Ratings has upgraded its outlook on Thailand’s sovereign credit rating to positive from stable, but it cautions that a return to political stability will not be enough to spur an economy beset by external challenges.

“The positive outlook reflects our assessment that political uncertainty in Thailand has begun to ease with the return of an elected government,” S&P said in a release.

“With progress in implementing national reforms and strategic plans, we believe policy continuity and political stability will improve.”

S&P Global Ratings

The ratings agency has affirmed its BBB+ (unchanged) long-term and A-2 short-term foreign currency sovereign credit ratings, as well as its A- long-term and A-2 short-term local currency ratings.

Finance Minister Uttama Savanayana said the upgrade by S&P follows previous increases by Fitch Ratings, Moody’s Investors Service and Rating and Investment Information Inc.

The post S&P upgrades Thailand’s sovereign rating outlook top positive appeared first on Thailand Business News.

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