Kingdom pushes SME promotion : Thailand pushed for the promotion of smaller businesses and the development of service sector workers to address new normal challenges during a virtual Asia-Pacific Economic Cooperation (Apec) leaders’ meeting yesterday. Bangkok Post
BoT moves to curb strengthening baht : The Bank of Thailand has liberalised foreign currency deposits and increased the investment limit in foreign securities for individuals to US$5 million (165 million baht) per year from US$200,000 as part of efforts to curb the rapid appreciation of the baht and forge a new foreign exchange ecosystem. Bangkok Post
Digital Economy accelerates global growth : Digital economy represents the new growth engine for markets worldwide. According to global studies, a 20% increment in digital economy can bring up to 1% GDP increase. Estimated to be 2.5 times faster than traditional economy, with ICT investment able to offer a 6.7 times return of the non-ICT investment, digital economy helps generate higher business value and growth across all sectors. Over 164 countries have published their national digital strategy, a roadmap towards implementing a strong foundation for a key driver of the economy. Bangkok Post
Lazada denies being behind data leak : Online retail operator, Lazada, insisted yesterday it was not responsible for leaking any online shoppers’ data following a report claiming that about 13 million records from Lazada Thailand were being offered for sale on an underground trading forum. Bangkok Post
Resistance to trade-in proposal : EVs dubbed poor option for buyers. The proposal to have motorists trade in their cars for new vehicles, including electric vehicles (EVs), has automakers warning of resulting sluggish sales, with EVs unsuitable for the authorities’ target to help the industry. Bangkok Post
Second co-payment phase shaping up : The second phase of the co-payment scheme, where the government subsidises 50% of food and goods purchased at small shops, will cover as many people as possible, says a senior Finance Ministry official. Bangkok Post
Protesters told CPB off-limits : Go near it and you’ll be arrested, warn police. Police have warned anti-government protesters at today’s rally in Bangkok to stay at least 150 metres away from the Crown Property Bureau (CPB). A Bangkok police source said 6,000 policemen had been assigned to handle today’s protest and he vowed that they would enforce the law against all offenders. Bangkok Post
Damming The Mekong : Laos is planning to build another hydroelectric dam near the border with Thailand. When completed, the proposed Sanakham dam, which is located about two kilometres away from Chiang Khan in Loei, will be the sixth dam built by Laos on the Lower Mekong. The 684-megawatt dam will be developed by a subsidiary of Datang International Power Generation, a Chinese, stateowned power company. The project’s construction is expected to finish in 2028 — and its developers intend to sell most of the electricity generated to Thailand. Bangkok Post
Recovery momentum picks up in Q3 : Thailand’s economic recovery momentum gained traction thanks to quarter-on-quarter GDP growth in the third quarter, with exports and public investment expected as the main growth drivers for next year, says a research house. GDP contraction has been upgraded to 6.4% from a 10.3% decline projected previously, attributed to an improved revision of all economic indicators, according to Krungsri Research, a research unit under Bank of Ayudhya. Bangkok Post
Tourism prospects opaque : Unpredictable factors cloud 2021 outlook. The tourism sector may have to wait until 2022 to see “normal” revenue, described as 80% of the pre-pandemic level, as major markets are reluctant to ease travel measures unless there is distribution of a successful vaccine, says the Tourism Authority of Thailand (TAT). Bangkok Post
