Headlines summary as of 15 October 2021

News

• The Japanese ambassador has met with the PM to discuss on easing the entry restriction for Japanese travelling to Thailand.—Krungthep Turakij

Politics

• There were a numbers of developments on 14 October as it marked the 48^th anniversary of the 14 October 1973 student uprising:
  • Student-led activists ‘Ratsadorn’ group celebrated its one year anniversary of the most progressive and anti-establishment movement. Ratsadorn group managed to march to the Government House before being dispersed on the morning after. The group is calling for a major protest on 31 October.–Matichon
  • The police patrol car was hit with a small bomb when the police was securing the perimeter of the Democracy Monument when the anarchy-prone Talu Gas Group announced the gathering in the area.—Thai Rath
• The PM reiterated once again yesterday that he does not have an intention to dissolve the Parliament.  In response to the reports that there are resistance against the PM advisor Piraphan taking a greater role in the main-ruling PPRP, the PM declined to comment.—Khao Sod
• The Deputy PM and government legal pundit Wissanu said that it will take long for the electoral bylaws to be finalised as the King has not approved the amendment motion.
• Former Red Shirt leader and anti-PM main figure Jatuporn Promphan has been released from detention from prison after being detained for 97 days. The former Red Shirt leader was in jail for his role in protest in-front of the house of late Privy Council president – Prem Tinsulanonda.—Prachachat Turakij
• A Harvard Professor has sent a warning to current Harvard students studying abroad or looking to attend events in Thailand that they may face punitive action due to deteriorating academic freedoms. The warning suggested that students attending events at that university should be aware that they place themselves under the same threat of punitive action as local students.—Thai Enquirer

Economic

CPTPP

• Following PM Prayut’s announcement that Thailand should accede to the CPTPP, an anonymous source from the government house disclosed that the government is planning to establish a CPTPP fund worth around 10 billion Baht to provide remedy to those affected by CPTPP.  Currently the Ministry of Finance, Ministry of Commerce, Agriculture & Cooperative Ministry and NESDC are working to fine tune the details of the fund’s mechanism.  The CPTPP fund is being established as per the earlier recommendation of the report compiled by the parliament-appointed CPTPP committee.  The impetus behind the government’s support for Thailand to join the trade pact include 1) China’s potential accession to CPTPP which would significantly increase market access; 2) relocation potential of companies affected by conflicts between China-Taiwan, US – China and 3) Thailand’s APEC Chairmanship in 2022.  Ministry of Commerce also added that it is designing an FTA fund worth some 5 billion Baht to assist those afflicted by free trade agreements in general.  Source:  Krungthep Turakij newspaper, 15 October 2021

Others

• Tourism and Sports Ministry (MoST) plans on allocating 500 – 600 million Baht to host concerts in Bangkok and Phuket to mark Thailand’s reopening.  The concerts will feature performances by Thai-born K-pop singer Lisa Manoban in Phuket and Italian tenor Andrea Bocelli in Bangkok.  The performance date is not yet confirmed, but MoST aims for it to coincide with the New Year.  The event is to be co-hosted by the government and private sector, with the former contributing 200 million Baht and the latter 300 – 400 million Baht via private sponsorship.  Source:  Bangkok Post
• PM Prayut hails Fitch Ratings’ most recent assessment of the Thai economy, which indicated that Thailand’s economic recovery in 2022 will be supported by improved COVID-19 vaccination rollout, the reopening of businesses and positive global growth environment.  Recovery of the tourism sector is expected to be gradual, with the Thai GDP forecasted to rebound to pre-pandemic level in early 2023.  The ratings of most major corporations in Thailand have stabilised, but sectors such as hospitality, retail, and banking remained under earnings pressure.  Source:  Thai Government Public Relations Department  Post Today  Bangkok Post
• Thailand’s economy has bottomed out in Q3 of this year and will continue to recover, although uncertainty remains high, according to the minutes of the Bank of Thailand’s last policy meeting released on Wednesday.  It expects the Thai economy to grow by 0.7 percent in 2021 and 3.9 percent in 2022.   Export will be hampered by supply chain disruption while the tourism sector will see slow recovery. Source:  Bangkok Post The Nation TV
• The BOT’s Puey Ungphakorn Institution for Economic Research also revealed that Thailand’s differences of opinions could affect Thailand’s economic growth, given that people’s social trust ad reconciliation scores had decline over a 10-year period.  Source:  Bangkok Post 
• Board of Investment had helped companies secure 248 business pairings worth some 952 million Baht in trade value at the 2021 Subcon Thailand, ASEAN’s largest international industrial subcontracting event which ended on 27 September.  However, this is a slight decline from the BOI’s estimate.  Source:  Bangkok Post
• ASEAN members are accelerating efforts to upgrade the digital economy within the bloc to brave the digital challenge that is accelerated by the pandemic.  Ministry of Commerce’s Trade Negotiations Department is to attend the upcoming 20^th ASEAN Economic Community Council meeting on 18 October, which will be the first time the AEC Council meets with ASEAN’s digital ministers.  They aim to exchange views on forging greater synergies between relevant sectors to prepare the region for digital era.  Source:  Bangkok Post
• Complaints about unfair trade competition have risen the last 4 years since the Office of the Trade Competition Commission was established as an independent agency on Oct 5, 2017.  As of September this year, the OTCC had received 99 complaints about unfair trade competition. Of the total, 2 were filed in 2017; 11 in 2018; 20 in 2019; 30 in 2020; and 36 in 2021.  Source:  Bangkok Post