NAKHON RATCHASIMA, 17th August 2019 (NNT) – The government is pursuing a policy to invigorate the national economy and upgrade the people’s quality of life, towards prosperity, stability and sustainability. It is called the BCG economic model with which many people might not be familiar. B stands for bio-economy with a focus on an effective use of natural resources such as the processing of farm products. C stands for circular economy with a focus on the optimum recycling use of materials such as molasses as an alternative to foam vessels. G stands for the green economy which reduces world pollution on a sustainable basis such as by installing solar cells and accessing alternative energy.

The BCG economic model calls for the development of technology and innovation, the addition of value to natural resources and promotion of an environmentally-conscious culture. The BCG economic model is to be applied in Nakhon Chai Burin provincial group.

Deputy Commerce Minister Veerask Wangsuphakitkosol held a meeting with officials on the trade and economic development issue and the steering of the BCG economic model for Nakhon Chai Burin provincial group, including Nakhon Ratchasima, Chaiyaphum, Buri Ram and Surin. In accordance with the BCG economic model, shophouses will be renovated as Smart stores and franchising businesses, and an OTOP Select campaign will be promoted. Meanwhile, a Silk Road will be built, so that famous tourist spots in the four provinces are connected, while every convenience will be provided for Thai and foreign visitors. Geographical indications (GI) for indigenous products will be registered, alongside negotiations for the opening of international markets.

Meanwhile, a meeting of the Joint Trade Committee will soon be held with partner countries such as Cambodia and Laos to augment the value of Thai goods in cross-border trade and in world markets.

Provincial Chambers of Commerce and Biz Club which is a link between the public and private sectors, will provide support for the BCG economic model to increase the value of natural resources and appeal of tourist spots, as well as promote the indigenous, distinctive wisdom that sustains those provinces.

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BANGKOK, 3rd August 2019 (NNT) – The latest estimate from the University of Thai Chambers of Commerce (UTCC) shows the drought disaster this year has affected some 1,330 square kilometers of farmland, most of which is rice farms, with initial damage estimated at about 10 billion baht.

The University of the Thai Chambers of Commerce (UTCC) has conducted a survey on this year’s drought disaster, compiled from agricultural government agencies and private firms with 109 data samples nationwide. The survey has concluded the agricultural sector has been affected the most from the disaster, especially in the northern and northeastern region, affecting farmer’s yields and incomes.

According to data from the Department of Agricultural Extension as of 1st August 2019, 1,341 square kilometers of farmland has been affected by the drought disaster this year, most of which is rice farms at 656 square kilometers with damage estimated at 7.5 billion baht, followed by maize farms, sugar cane for factories, and tapioca, raising the overall damage estimate to 9.8 billion baht.

UTCC’s Center for Economic and Business Forecasting’s (CEBF) Director, Thanawat Polvichai said today that the Department of Disaster Prevention and Mitigation has lifted the disaster affected area status in most places, leaving only one province remaining, which is expected to help alleviate the crisis thanks to the government’s water management and rainmaking operations. However, the center expects the damage to reach 18 billion baht should the crisis continue for another month.

The overall damage is expected to escalate to 37 billion baht should the drought extends to…

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BANGKOK, 15th August 2019 (NNT) – The Minister of Industry has held talks with the Bank of Thailand’s Governor over measures to control the fluctuation of Thai Baht currency, minimize impacts faced by SMEs and promote the import of machinery during this time to take advantage of the stronger currency.

The Minister of Industry Suriya Juangroongruangkit held talks with Bank of Thailand’s Governor Veerathai Santiprabhob and expressed his satisfaction with Bank of Thailand’s existing measures and attempts to control the currency.

The Industry Minister proposed measures to help business owners, such as the promotion of Thai Baht as a currency for international trade to reduce the risks from US Dollar currency fluctuation, encouraging business owners to purchase currency exchange insurance packages and encouraging them to import machinery during this time while Thai Baht currency is stronger. The Ministry of Industry will be discussing with the Board of Investment (BOI) plans to issue tax incentives for machinery importers, which will help weaken the Thai currency and help increase competitiveness among local SMEs.

Meanwhile, Deputy Prime Minister Somkid Jatusripitak today held talks with executives at the Ministry of Industry, proposing guidelines for the BOI to support further investments by the private sector, including the machinery purchasing promotion and other support measures for SMEs.

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BANGKOK,13th August 2019 (NNT) – Deputy Prime Minister/Commerce Minister Jurin Laksanawisit, has held a meeting to discuss the Farmers Rehabilitation and Development Fund which takes care of over 5.5 million farmers nationwide.

Representatives of the Office of the Farmers Rehabilitation and Development Fund met with the deputy premier/commerce minister at Government House yesterday. The Farmers Fund representatives reported that a total of 53,589 organizations in which some 5.5 million farmers are registered are currently entitled to aid from the Farmers Fund. The fund, set up in 1999 in the time of the Chuan Leekpai government, is run by a policy committee chaired by the deputy premier, an administrative committee and provincial committees.

The Farmers Fund has helped more than 30,000 indebted farmers, the owners of over 300,000 rai of farmland, which would otherwise have been seized by loan sharks.

The Deputy Premier/Commerce Minister instructed the Office of the Farmers Fund to secure the optimum interests of the farmers, help keep their farmland from being seized due to debt and restore them to their agricultural occupations so that they can make ends meet.

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