Thailand Housing Business Association reports 90% space of FY24 House & Condo show Mar 21-24 at QSNCC already occupied as residential developers roll out aggressive campaign to purge inventories to reduce risk from uncertainty.
BoT keeps policy rate stable at 2.5%: Growth downgraded to 2.5-3% in 2024. The Bank of Thailand’s Monetary Policy Committee (MPC) has decided to maintain its policy rate at 2.5% and trim its 2024 growth projection to a range of 2.5-3%. Bangkok Post
BoI sees big jump in investment: Applications for BoI investment promotion hit a five-year high of 848 billion baht in 2023, up 43% from 2022’s adjusted number. Electric vehicle production is one of the five priority sectors defined by the new strategy the BoI enacted last year. Applications for investment promotion in 2023 soared to a five-year high of 848 billion baht, an increase of 43% from the previous year’s adjusted number, fuelled by substantial foreign investments within the five priority sectors outlined in the Board of Investment’s (BoI) new Investment Promotion Strategy. Bangkok Post
Ministry bullish on luring 35m foreign arrivals this year: The Tourism and Sports Ministry is confident the country can attract 35 million foreign visitors this year after 3 million arrived in the first month, while tourism operators say expensive tour packages will not affect Chinese tourists from second-tier cities. Bangkok Post
Headline inflation declined for a fourth consecutive month, but a state official insists there are no signs of deflation.: Trend to continue in February and March. Headline inflation declined for a fourth consecutive month in January, reaching its lowest level in 35 months, as the Commerce Ministry expects the trend to continue in February and March thanks to government measures to reduce the cost of living. Bangkok Post
Dual rates cut into tobacco tax revenue: Using a dual cigarette tax rate has reduced the government’s cigarette tax revenue by roughly 23 billion baht, says Tobacco Authority of Thailand governor Poomjit Pongpanngam. As a result of the new cigarette tax structure, sales have been dropping dramatically, said Mr Poomjit. Results of an empirical analysis of cigarette tax avoidance in Thailand last year found cigarette tax revenue amounted to 70 billion baht, with tax revenue lost from illegal sales estimated at 23 billion baht or 25% of total cigarette tax revenue. Bangkok Post
44 MFP MPs risk lifetime bans: Pita targeted in potential ethics probe. Forty-four MPs of the Move Forward Party (MFP), including its chief adviser Pita Limjaroenrat, could face a political ban for life as they are now the subject of a probe into whether they adhered to the code of ethics over their stance on the lese-majeste law. Bangkok Post
Fuel subsidies may exhaust oil fund: Oil Fuel Fund Office urges better measures to control outlays. New measures to better support and manage the Oil Fuel Fund are needed amid growing concerns oil and gas subsidies from the fund will drain it empty, says the Oil Fuel Fund Office (Offo). Bangkok Post
BoT pushed to better regulate bank rates: Companies under the Federation of Thai Industries (FTI) are calling on the Bank of Thailand to better regulate commercial banks’ interest rates as increasing financial costs are threatening to slow investment. Bangkok Post
Road to recovery: Operations following rehab plan. The liquidity of the national flag carrier has improved, says Mr Tibordee. The head of the state enterprise office believes Thai Airways can relist on the local bourse next year if it stays the course. The State Enterprise Policy Office (Sepo) expects Thai Airways International Plc (THAI) to relist on the Stock Exchange of Thailand next year, says Tibordee Wattanakul, directorgeneral of Sepo. Bangkok Post
