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Deputy prime minister views Phuket airport project site in Phang…

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PHUKET(NNT) – Deputy Prime Minister and Commerce Minister Jurin Laksanawisit has visited Phuket and followed up on the progress of the second Phuket airport project in Phang Nga, designed to accommodate over 5.5 million passengers yearly. The deputy prime minister attended a briefing on the airport project in Phang Nga at Phuket terminal auditorium. He was accompanied by Deputy Transport Minister Thaworn Senniam.

Phuket airport which is run by the Airports Of Thailand (AOT) can accommodate a maximum of 20 flights per hour for domestic and international passengers. The airport’s passenger terminal is intended to accommodate 12.5 passengers yearly or 9,000 passengers per hour. Last year however, the airport accommodated about 18 million passengers and 118,136 flights.

Due to limited space for future expansion, the second Phuket airport is being built in Phang Nga which is located near the existing Phuket airport. The designated location is in Kok Kloy subdistrict of Takua Thung district of Phang Nga which is only 23 kilometers from the existing Phuket airport. Road and rail transport projects will be implemented to link Phuket airport with Phang Nga. Upon the completion of the second airport, about 25 million passengers will be accommodated yearly.

The deputy prime minister assigned the deputy transport minister to decide whether the Department of Airports or the AOT will be responsible for the construction of the second Phuket airport in Phang Nga. The provincial governor of Phang Nga was assigned to follow up on the project and regularly report to the deputy prime minister.

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Digital Ministry outlines AI ethics

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BANGKOK (NNT) – AI is a term we hear often nowadays for Artificial Intelligence. It is a set of software allowing computers to perform intelligent tasks. The technology has been widely adopted in day to day life, which provides both benefits and consequences from improper usage. The Ministry of a Digital Economy and Society has combined interests with academics and experts to help outline ethical codes for AI development in the future.

The Minister of a Digital Economy and Society, Puttipong Punnakanta revealed a part of the 20-year national strategy involves the enhancement of competitiveness in future industrial development and services, which will include AI adoption to help strengthen the economy and society, in parallel with the development of human resource capabilities. The technology however has potential consequences for misuse, and could be adopted as a tool for warfare by some countries.

To ensure a proper transition into the AI age ethically, the Ministry of a Digital Economy and Society has joined hands with academics and experts from Mahidol University to draft Digital Thailand – AI Ethics Guidelines, which will serve as a manual and provide ethical codes for AI development in government agencies, private firms, regulatory bodies, researchers, designers, developers, and users. The guidelines cover six aspects of development, namely competitiveness and sustainable development; legal regulations and international ethical standards; operational codes and duties; security and privacy; equality, diversity, and fairness; and credibility.

Further consultations will be held to hear opinions from all sides to further refine these draft guidelines, which will become the key development manual for all to follow in order to develop AI technology based on good ethics.

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Thailand edges up 6 spots in World Bank’s Ease of Doing Business 2020

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Thailand’s ranking in the World Bank’s Ease of Doing Business 2020 list has edged up 6 places, from 27th to 21st this year from 190 countries surveyed

The World Bank ranked Singapore second and Malaysia 12th in Doing Business 2020 report. In the ranking, Thailand’s scored increased 1.65 to 80.10, the highest in the past six years.

Thailand has done better in dealing with construction permits by cutting 19 procedures to 14 and waiting times for approval from 118 days to 113 days, climbing the rank to 34th from 67th, said the report.

Thailand’s Finance Minister, Uttama Savanayana, said Thailand has moved up six places among the 190 countries in the World Bank’s “Ease of Doing Business 2020” report.

Uttama added that protecting minority investors had been highlighted by the Thai government, pushing up the rank in this category to third place from 15th last year.

The finance minister however, said Thailand still needs to make progress in many areas to facilitate investments.

While many economies in the East Asia and the Pacific region make doing business relatively easy, the pace of reforms has slowed from previous years.

Reforms were implemented in fewer than half of its economies (12 out of 25). Even so, five East Asia and the Pacific economies are among the top 25 global performers, including Singapore(2nd), Hong Kong SAR, China (3rd); Malaysia (12th); Taiwan, China (15th); and Thailand (21st). China jumped in the ranking to 31st and is among the top 10 improvers for a second consecutive year.

A country’s ease of doing business score is reflected on a scale from 0 to 100, where 0 represents the lowest and…

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China’s Green Future Implodes as Economy Hits Stall Speed

News Analysis China’s transition to a green economy is imploding as the economic growth needed to pay for the massive state-funded subsidies hits its slowest pace in three decades. Vice Premier Liu He was praised for his January 2018 keynote speech at the World Economic Forum (WEF) in Davos, Switzerland for stating that in addition […]

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PM 2.5 dust at standard level this morning

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BANGKOK (NNT) – Readings of the PM 2.5 airborne dust concentration in Bangkok and neighbouring provinces this morning showed a decrease, bringing the concentration level back to the standard level in all areas, after a cold air mass began to prevail overnight, with rainfall helping reduce dust in the air.

The Pollution Control Department’s (PCD) Director General Pralong Dumrongthai announced that the monitoring of the air quality in Bangkok and neighbouring provinces this morning showed a PM 2.5 airborne particulate matter concentration of between 17-43 micrograms per cubic meter of air, which is lower than the amount recorded yesterday.

The overall dust concentration has reduced to a point well within standard levels in all areas, with current air quality rated good to moderate. This improvement in air quality is a result of integrated efforts by government agencies to strictly regulate emission sources, and activities causing dust pollution, as well as offer the public advice on the prevention of potential health consequences.

The Meteorological Department has forecast that a cold air mass from a high pressure system will prevail over the country, improving circulation and the vertical flow of dust. Clouds are expected to cover some parts of Bangkok and neighbouring provinces, with thunderstorms over 10 percent of the area. These climate conditions will help reduce airborne dust.

The PCD chief has stressed that the general public is asked to refrain from burning any items in the open air, properly maintain vehicle engines to prevent black exhaust emissions, while construction sites and industrial factories are asked to regulate and reduce dust and air pollution emissions.

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Chim Shop Chai phase 2 sign-up reaches first 500,000 applicants

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BANGKOK (NNT) Registrations for the Chim Shop Chai – Eat Pay Spend campaign’s second phase got underway today on www.ชิมช้อปใช้.com. The first registration slot for 500,000 applicants opened at 6 a.m. and was full by 7:18 a.m. Another 500,000 applicants will be accepted starting at 6 p.m. today.

The second phase of the campaign allows 3 million more people who have never registered before to receive the campaign’s electronic money and other benefits.

The campaign provides successful applicants with 1,000 baht per person in electronic money stored in a g-Wallet 1 balance, which can be used for eligible purchases at participating stores. More money can top up this balance, from which eligible payments will come with cashback rewards on purchases up to 30,000 baht, with the maximum cashback amount capped at 4,500 baht.

An additional 20% in cashback rewards are also offered for purchases made from topped up cash in the g-Wallet 2 balance, for purchases which exceed the first 30,000 baht, up to 50,000 baht. The maximum cashback offer is capped at 4,000 baht per person. This cashback reward was also offered to the first 10 million applicants in the campaign’s first phase.

In Yala, the general public was advised of the oppoertunity to sign up for this campaign, with many lodging their application online from the moment the system opened, causing massive internet traffic which resulted in some unsuccessful applications.

One of the applicants said today he has been looking forward to signing up for the campaign from the moment he heard about the campaign’s phase 2, however his registration failed to come through. He said he will be waiting for the next registration opening, adding that this campaign in a way helped stimulate the local economy in Yala province.

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Condominium Developers Diversify into Recurring Income Properties – Real Estate

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The recent restrictive measures from the Bank of Thailand (BOT) have continued to cast a shadow over Bangkok’s condominium market since the beginning of this year.

Condominium sales have dropped, putting pressure on developer’s financial targets. Some developers have sought to diversify their risk in pure residential development projects for sale by seeking to develop alternative sources of revenue from recurring income properties. 

Growing concerns about excessive residential mortgage lending by commercial banks prompted the BOT to reduce loan-to-value ratios (LTV ratios) for second and subsequent home mortgages starting from 1st April 2019. CBRE believes the new measures have significantly reduced the number of speculative buyers and buy-to-rent investors of residential condominium units.

A slowdown in the condominium market has encouraged major residential developers to consider diversifying their portfolios into other property sectors such as office, hotel, and serviced apartments.

Most of these companies are listed on the Stock Exchange of Thailand and their financial performance is regularly accessed. With stable recurring income, they are better able to offset the volatility in revenues from the residential-for-sale market as well as sustain revenue and profit growth.

“We have seen an increase in both the number of landowners willing to lease land for the long term and the number of developers who are looking to develop leasehold land projects,”

Ms. Kulwadee Sawangsri, Executive Director and Head of Capital Markets – Investment & Land, CBRE Thailand. 

“Over the last 4 years, CBRE has completed nine long lease land transactions worth more than THB 10 billion. With the forthcoming changes in the new Land and Building Tax…

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The end of global supply chains as we know them?

Thailand Business News

Author: Davin Chor, Dartmouth College ‘It’s the end of the world as we know it’. So rings the lyrics of a classic song from the mid-1980s by the rock band R.E.M. These words aptly capture the foreboding sentiment gripping manufacturing companies that rely on global supply chains as they scramble to cope with the fallout […]

The post The end of global supply chains as we know them? appeared first on Thailand – China.

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