Domestic travel rises above early forecasts: Travellers made 200 million domestic trips in the first 10 months of this year, less than the 222 million in 2019 but up on the 160 million trips projected by the Tourism Authority of Thailand (TAT), according to a government spokesman. Bangkok Post
Oct exports fell for 1st time in 20 months to -4.4% vs +5.5% estimation, as tight monetary policy to quell inflation in major trading partners hurt purchasing power and econ activities. Outlook for remaining 2 months and next years faces headwinds from global slowdown, Commerce Ministry.
Cabinet approves tax on share sales: Levy of 0.11% to be imposed on investors. The cabinet has approved a financial transaction tax on individual stock investors, ending a four-decade waiver. Bangkok Post
Thailand predicted to fail on EV target: Thailand is likely to miss its ambitious target of electric vehicles (EVs) comprising 50% of locally made vehicles by 2030 for a variety of reasons, notably high energy prices and limited EV charging facilities, says global management consultancy Arthur D. Little. Bangkok Post
Applications for hotel asset warehousing scheme decrease: The total number of hoteliers affected by the pandemic applying for the central bank’s asset warehousing scheme has declined thanks to the rebound in the tourism sector, according to an executive at the Bank of Thailand. Bangkok Post
The cabinet has approved in principle a tax on share sales at 0.11%, after a 40 years waivers, but likely to be charged only ½ at 0.055% from Mar-April 23, while local provident and pension funds will be exempted, yet overall details remained sketchy.
Six cos have picked up bid documents for the satellite orbital slot auction as the process concluded yesterday, National Telecom, mu Space and Advanced Tech, Prompt Tech Services, Space Tech Innovation (unit of THCOM), Ascend Capital (under CP Group) and The Win Telecom.
Court opts for 100 as list divisor: Pheu Thai to ‘benefit most’ from ruling. The Pheu Thai Party will gain the most from the Constitutional Court’s ruling to use 100 as the divisor to calculate partylist MPs, but its ambitious goal of winning a landslide victory at the next general election remains in doubt. Bangkok Post
Frozen product business registrations surge 84%: Mr Sinit said the market value of Thai frozen food was 304 billion baht in 2021. Entrepreneurs have flocked to invest in the frozen food segment, with new business registrations rising by 84% in the first nine months, driven by rising domestic and export demand. According to Deputy Commerce Minister Sinit Lertkrai, new frozen food business registrations between January and October tallied 92, up from 42 in the same period last year, with registered capital rising by 284% to 299 million baht. Bangkok Post
MPI declines as factories close: Car manufacturing was among the industries that contributed to the October MPI. Thailand’s Manufacturing Production Index (MPI) fell by 3.71% year-on-year in October as some factories shut down for maintenance, but the Industry Ministry remains optimistic about the growth of the full-year MPI. Major maintenance of petrochemical and plastic bead production facilities lowered the October index to 93.89 points, down from 97.89 points in September, according to the Office of Industrial Economics (OIE). Bangkok Post
