KEY ISSUES AT A GLANCE
- Doping up real estate to revive the economy. At the Property Inside 2022 seminar, Finance Minister Arkhom said the government will soon roll out the Long Term Resident (LTR) Visa to attract high-spending foreigners to invest in Thailand’s property market, noting that the real estate sector contributes 8-9 percent to Thailand’s GDP. As part of the LTR visa, Ministry of Interior is considering lifting the 49 percent foreign ownership quota for condominiums, but noted that in Bangkok, the 49 percent quota is not met since foreigners own only about 7 percent of condominiums. Interior Ministry is therefore working around this issue, but added that it is planning to lower transfer and mortgage fees for properties worth more than 3 million Baht to 0.01 percent. Source: Thansettakij Print Edition
- “Charging station” package booming for EV market. After the government has launched incentives in support of Electric Vehicles (EV) for cars, motorcycles and pick-up trucks, the focus is now on promoting investments in charging stations. Ministry of Energy together with the state-run PTT and Bangchak gas stations are joining the effort to build more charging stations and help the government achieve its goal of installing 12,000 charging machine by 2030, wherein only 944 charging machine are currently installed. The EV National Committee chaired by DPM Supattanapong has also instructed the BOI to launch more incentives to attract investments in the manufacturing of EV batteries and charging stations. Source: Krungthep Turakij Print Edition
- Doubt over Setthakij Thai clout. Analysis: Some of its MPs may quit as leader is seen as self-interested. Some are asking what if any role the Setthakij Thai Party led by Thamanat Prompow can play in overthrowing the government in the upcoming no-confidence debate. Setthakij Thai, with 16 MPs under its wing, has raised the political temperature after Capt Thamanat on Tuesday formally withdrew support from the coalition and vowed to vote against Prime Minister Prayut Chan-o-cha and 10 cabinet ministers targeted in the censure motion. Capt Thamanat did not rule out the possibility of returning to Pheu Thai, saying in politics anything was possible. Source: Bangkok Post Print Edition
AUSTRALIA IN THE NEWS
- Australia unemployment dives to 48-year low as jobs boom. SYDNEY :Australia’s unemployment rate dived to a 48-year low in June as hiring outstripped all expectations, while record vacancies suggested the labour market was set to tighten yet further and perhaps justify even larger increases in interest rates. Figures from the Australian Bureau of Statistics on Thursday showed net employment had surged 88,400 in June from May, when it jumped 60,600. That blew away market forecasts of a 30,000 rise in June and brought gains for the year to a rousing 438,000. The jobless rate slid to 3.5 per cent from 3.9 per cent, well below forecasts of 3.8 per cent and the lowest since August 1974. Source: Channel News Asia.
- Australia PM ‘confident’ no Chinese navy base planned for Solomon Islands. Australian Prime Minister Anthony Albanese says he is “very confident” there won’t be a Chinese military base built in the Solomon Islands, after meeting with Solomons’ leader Manasseh Sogavare. Albanese and Prime Minister Sogavare embraced warmly ahead of discussions on the sidelines of the Pacific Islands Forum in Fiji on Wednesday afternoon, their first meeting since the Australian leader was elected in May. Australia has been a close security and economic partner of the Solomon Islands but the relationship was shaken in April by news that the Pacific nation had signed a security agreement with the Chinese government. Source: Japan Times
GENERAL
- ‘Rampaging’ bus No 8 to be removed from Bangkok roads soon. The notorious public bus No 8 will soon be removed from roads after the Bangkok Mass Transit Authority (BMTA) refused to extend its concession contract, a source said on Tuesday. The move came after the operators failed to meet new service and safety standards under the BMTA reform plan, according to the source. Plying the route between Memorial Bridge at Victory Monument and Happy Land in eastern Bangkok, the No 8 has become synonymous with reckless driving, road accidents and bad-tempered staff. Source: The Nation
- Cop in businessman robbery surrenders. The deputy superintendent of the Provincial Police Region 1’s General Staff Division turned himself in to police on Wednesday after he was implicated in the kidnapping of a Singaporean businessman and robbing him of valuables, including a Porsche, last month. Pol Lt Col Thobthong Boonlong, deputy superintendent of General Staff Division’s subdivision 5, Provincial Police Region 1, surrendered after he was implicated in forcing the victim from an entertainment venue in Bangkok’s Huai Khwang area and robbing him. He denied all charges. Kilis Bootwat, 35, another alleged accomplice, also surrendered. Source: Bangkok Post
COVID/ HEALTH
- 2,257 new cases and 28 deaths. Source: Department of Disease Control, Ministry of Public Health
POLITICS
- Bangkok city councillor facing sexual harassment charges. Move Forward city councillor Arnuparb Tarntong reported to police on Wednesday to acknowledge and deny sexual harassment charges brought by four young women, all party supporters, and was later granted court bail. The 38-year-old councillor for Sathorn district was officially informed of the charges filed on Tuesday by two 16-year-olds and two 18-year-olds, at Thung Mahamek police station. He was later taken to Bangkok South Criminal Court, where police applied to further detain him. Mr Arnuparb is the second politician this year to find himself battling charges of sexual molestation. The other is Prinn Panitchpakdi, a former deputy leader of the Democrat Party. Source: Bangkok Post
- Doubt over Setthakij Thai clout. Analysis: Some of its MPs may quit as leader is seen as self-interested. Some are asking what if any role the Setthakij Thai Party led by Thamanat Prompow can play in overthrowing the government in the upcoming no-confidence debate. Setthakij Thai, with 16 MPs under its wing, has raised the political temperature after Capt Thamanat on Tuesday formally withdrew support from the coalition and vowed to vote against Prime Minister Prayut Chan-o-cha and 10 cabinet ministers targeted in the censure motion. Capt Thamanat did not rule out the possibility of returning to Pheu Thai, saying in politics anything was possible. Source: Bangkok Post Print Edition
ECONOMICS
- Carmakers adjust plans to invest more in charging stations. The Chinese players MG plans to set up 500 charging stations in every 150 km along the main routes, while Great Wall eyes establishing 100 stations. Next year, Mercedes-Benz and BMW also plan to focus on partnering up with specialised companies to construct more charging stations. Source: Krungthep Turakij Print Edition
- Government insists on FTA negotiation after Sri Lanka sets up new team. Negotiations for the Thailand-Sri Lanka FTA is suspended due to Sri Lanka’s internal turmoil and the ensuing change in government. Negotiations between both countries will not resume until the reshuffling of Sri Lanka’s trade negotiation team is finalised. Source: Thairath
- SMEs call for suspension of planned fuel tariff increase. The Federation of Thai SMEs is asking the government to delay an increase in the fuel tariff (Ft) scheduled for September as they struggle to stay afloat amid economic problems. Thais should expect pricier electricity bills, with the power tariff increasing to a record high of 4.4 baht per kilowatt-hour between September and December this year. The higher power tariff results from the need to import more LNG, which is costly but currently serves as a key fuel for electricity generation. SME Federation urges authorities to find ways to set a ceiling for the Ft to alleviate the pain of SMEs. Source: Bangkok Post
- TAT cautiously upbeat on domestic trips. Inflation and volatile oil prices remain the key factors hitting domestic trips, despite positive travel sentiment during the 5-day weekend for government employees, according to the Tourism Authority of Thailand. The number of domestic trips is expected to reach 3.7 million during Asarnha Bucha Day and the start of Buddhist Lent from July 13-17, generating 14.3 billion baht. Source: Bangkok Post
- Doping up real estate to revive the economy. At the Property Inside 2022 seminar, Finance Minister Arkhom said the government will soon roll out the Long Term Resident (LTR) Visa to attract high-spending foreigners to invest in Thailand’s property market, noting that the real estate sector contributes 8-9 percent to Thailand’s GDP. As part of the LTR visa, Ministry of Interior is considering lifting the 49 percent foreign ownership quota for condominiums, but noted that in Bangkok, the 49 percent quota is not met since foreigners own only about 7 percent of condominiums. Interior Ministry is therefore working around this issue, but added that it is planning to lower transfer and mortgage fees for properties worth more than 3 million Baht to 0.01 percent. Source: Thansettakij Print Edition
- “Charging station” package booming for EV market. After the government has launched incentives in support of Electric Vehicles (EV) for cars, motorcycles and pick-up trucks, the focus is now on promoting investments in charging stations. Ministry of Energy together with the state-run PTT and Bangchak gas stations are joining the effort to build more charging stations and help the government achieve its goal of installing 12,000 charging machine by 2030, wherein only 944 charging machine are currently installed. The EV National Committee chaired by DPM Supattanapong has also instructed the BOI to launch more incentives to attract investments in the manufacturing of EV batteries and charging stations. Source: Krungthep Turakij Print Edition
For further information please see the embassy’s Facebook Page ‘Australian Embassy, Thailand’ or the Ambassador’s Twitter Page https://twitter.com/AusAmbBKK
