BYD set to pursue state EV incentives: BYD is expected to be the latest Chinese automaker to take up the government’s electric vehicle (EV) incentives when its sole distributor Rever Automotive Co signs an agreement with the Excise Department later this month for a tax reduction and subsidy that make the firm’s “new energy vehicles” more affordable for Thai buyers. Bangkok Post
New levy coming: Mr Ekniti says EU members are among the first countries to impose a carbon tax, slated for next year. To match global trends and meet its own he Thai Excise Department expects a carbon tax in the future. It is inevitable Thailand will introduce a carbon tax to match the global trend, says Excise Department director-general Ekniti Nitithanprapas. EU members are among the first countries to impose the tax, slated for next year, beginning with products or processes with high carbon dioxide emissions, such as cement, iron, aluminium, fertiliser and the electricity production process, said Mr Ekniti. Bangkok Post
Country eyes new bilateral committees in export drive: Thailand looks set to establish new joint trade committees (JTCs) with Saudi Arabia, the United Arab Emirates, Egypt, Austria and Kazakhstan next year to boost exports to these markets. The Trade Negotiations Department’s director-general Auramon Supthaweethum said the new JTCs will also be instrumental in facilitating investment and expediting economic cooperation. Bangkok Post
Sea riches prompt new talks: Thailand, Cambodia eager to end dispute. Thailand will hold talks with Cambodia over a 26,000 sq km overlapping claims area (OCA) estimated to hold up to 500 million barrels of oil and gas deposits under the seafloor. Bangkok Post
EIC increases inflation projection to 6.1%: High prices expected through 2023. Higher inflation is expected to dampen household purchasing power. The Economic Intelligence Center (EIC), a research house under Siam Commercial Bank, has upgraded its inflation rate projection for this year to higher than 6% before falling to the near the Bank of Thailand’s target range next year. Bangkok Post
Revenue expected to exceed 2022 target: Mr Krisada said the ministry expects revenue collection for fiscal 2022 to surpass the 2.4-trillion-baht target by around 70 billion baht. He attributed the higher revenue collection to the improving economy. The National Economic and Social Development Council projects economic expansion in the range of 2.73.2% this year. Thailand expects foreign tourist arrivals of 8-10 million this year. Bangkok Post
Tourism Authority reported Jan-Sept 9 international arrival exceeded 5m, expects 1.5m travelers each month from Oct-Dec suggested by tight winter slot, maintains 10m FY target.
Cannabis bill riles coalition: Bhumjaithai at odds with govt partners. Relations among the government’s coalition partners have become strained due to a cannabis and hemp bill, with the Bhumjaithai Party slamming its withdrawal from parliament as being politically motivated. Bangkok Post
BoT maintains reserves remain solid: Stronger dollar saps central bank assets. The stronger dollar has weakened the Bank of Thailand’s international reserves, but the central bank says the country’s external position and financial stability remain strong. Bangkok Post
System upgrade: Move aims to ensure stable digital banking. The Bank of Thailand plans to improve payment standards to ensure stable digital banking and avoid glitches. The Bank of Thailand plans to upgrade the country’s payment system standard to stabilise financial services and prevent digital banking glitches. Bangkok Post
