Headlines summary as of 28 SEPTEMBER 2022

KEY ISSUES AT A GLANCE 

• Fully-licensed Akara prepares to open in 2023 and teams up with PMR to process gold ore. Akara Resources has pinned the start of 2023 as its D-Day in resuming the operation of Chatree gold mines.  Its licenses – from concession, mineral and ore exploration to ore processing, have been renewed. It is also joining forces with Precious Metal Refining (PMR) company to process gold, before sending it to Ausiris company to refine into gold ornaments.  The company aims to promote Thailand as Southeast Asia’s highly comprehensive manufacturer and trader of gold. These cooperation will establish in Thailand the full supply chain in gold processing, capturing the upstream, mid-stream and downstream processes. Sources: Prachachart Turakij, Thansettakij, Kingsgate Press Release
• Biden not among those joining Apec. At least five Asia-Pacific Economic Cooperation (Apec) leaders have confirmed their participation in the upcoming Apec summit to be held in Bangkok, Foreign Ministry spokesman Tanee Sangrat said on Tuesday. This comes amid news that US President Joe Biden will not be attending the Nov 18-19 meeting. Mr Tanee made the statement after it was reported that Mr Biden is likely to skip the Apec summit. US Vice President Kamala Harris will instead take part, according to US media reports. Foreign Affairs Minister Don Pramudwinai said people do not necessarily pay attention to who will represent what countries at the summit. The focus is on which countries will or will not be coming to the meeting. “It doesn’t really matter … as the obligations possibly adopted at the meeting will definitely be bound to the countries, not to the persons representing them,” Mr Don said. “I totally understand if some Thai people may not see it the same way as many people in other countries do,” he said. Source:Bangkok Post Print Edition
• Prayut hit with graft claims. The opposition on Tuesday filed a petition against suspended Prime Minister Prayut Chan-o-cha and two cabinet ministers for malfeasance over alleged graft in two projects under the Ministry of Commerce and the Ministry of Higher Education Science Research and Innovation (MHESRI). One was against Gen Prayut and Higher Education Science Research and Innovation Minister Anek Laothamatas while the other was against Gen Prayut and Commerce Minister Jurin Laksanawisit. These petitions were lodged as a follow-up to the allegations raised by the opposition parties in the previous censure debate. Source: Bangkok Post

AUSTRALIA IN THE NEWS

• Chadchart welcomes Australian Ambassador. Australian Ambassador to Thailand H.E. Dr. Angela Macdonald called on Bangkok Governor Mr. Chadchart Sittipunt yesterday (27 Sep). They discussed environmental cooperation on climate response in Bangkok, initiatives on making use of nature-based solution to improve the city, Australia’s support in transition to clean transport for the city, and many more. Australia and Thailand have established their diplomatic relations since 1952. Over the past decades, both have maintained an outstanding partnership in terms of defence, politics and security on both bilateral and multilateral levels. Source: OPT News    

GENRAL

• Abortion legal in Thailand up to 20th week of pregnancy from October 26th. A woman in Thailand who is no more than 20-weeks into her pregnancy will be able to seek a legal abortion, with prior consultation from a medical practitioner, to be conducted by a medical professional, under an edict of the Ministry of Public Health, which was published in the Royal Gazette on September 26th and which will come into force after 30 days. Source: Thai PBS World
• Typhoon Noru will become a tropical storm when it arrives in Thailand on Sept 28-29, according to the Hydro-Informatics Institute. Storm Noru was expected to enter the country in the upper part of Ubon Ratchathani province. It will pass the central Northeast to the lower North and the Central Plain. It will weaken to a depression and a low-pressure system before disappearing in the country on Sept 30. Source: Thai News Agency

COVID/ HEALTH

• 811 new cases and 9 deaths. Source: Department of Disease Control, Ministry of Public Health
• Anti-COVID nasal spray to be available from October 1^st. An anti-COVID nasal spray, an innovation jointly developed by Health Systems Research Institute (HSRI), the Faculty of Medicine at Chulalongkorn University, the Government Pharmaceutical Organization (GPO) and Hibiocy Company, will be commercially available from October 1st. He explained that the spray is capable of preventing coronavirus from attaching to the internal surfaces of the nasal cavity, thanks to the coating substance Hydroxypropyl Methyl Cellulose (HPMC) it contains, which reduces the viral load in the cavity. The spray must be used three times a day, every six hours. Source: Thai PBS World

POLITICS

• China has pledged closer ties with Thailand and deeper cooperation in the Asia Pacific region, as the country celebrates the 73rd anniversary of its founding as a republic. China’s Ambassador to Thailand Han Zhiqiang stressed on the key messages of bilateral cooperation between China and Thailand as well as China’s contribution to the keep peace and order related to geo-political tensions, while vowing to help boost cooperation within the Asia Pacific region during the upcoming Asia Pacific Economic Cooperation (Apec) Summit in November, to be hosted in Bangkok. Thai business tycoons and politicians joined the pre-anniversary event. Among the guests were House Speaker Chuan Leekpai and senior chairman of Charoen Pokphand Group Dhanin Chearavanont, as well as politicians from the government coalition and opposition parties. Source: The Nation
• Prayut hit with graft claims. The opposition on Tuesday filed a petition against suspended Prime Minister Prayut Chan-o-cha and two cabinet ministers for malfeasance over alleged graft in two projects under the Ministry of Commerce and the Ministry of Higher Education Science Research and Innovation (MHESRI). One was against Gen Prayut and Higher Education Science Research and Innovation Minister Anek Laothamatas while the other was against Gen Prayut and Commerce Minister Jurin Laksanawisit. These petitions were lodged as a follow-up to the allegations raised by the opposition parties in the previous censure debate. Source: Bangkok Post
• Public debt plan given nod. Borrowing for 2023 to reach B1.05tn. The cabinet on Tuesday approved the public debt management plan for fiscal 2023, says Finance Minister Arkhom Termpittayapaisith. The new plan focuses on fiscal policy to increase economic growth via investment in infrastructure and dealing with the economic impact from volatile global oil prices and the Russia-Ukraine war, he said. The plan calls for new debt of more than 1.05 trillion baht, of which 820 billion is new government debt. Of the government’s new debt of 820 billion baht, 695 billion is borrowing to offset the budget deficit from expenditures in fiscal 2023, while the rest is to be lent to the State Railways of Thailand and the Mass Rapid Transit Authority of Thailand.Source: Bangkok Post
• Biden not among those joining Apec. At least five Asia-Pacific Economic Cooperation (Apec) leaders have confirmed their participation in the upcoming Apec summit to be held in Bangkok, Foreign Ministry spokesman Tanee Sangrat said on Tuesday. This comes amid news that US President Joe Biden will not be attending the Nov 18-19 meeting. Mr Tanee made the statement after it was reported that Mr Biden is likely to skip the Apec summit. US Vice President Kamala Harris will instead take part, according to US media reports. Foreign Affairs Minister Don Pramudwinai said people do not necessarily pay attention to who will represent what countries at the summit. The focus is on which countries will or will not be coming to the meeting. “It doesn’t really matter … as the obligations possibly adopted at the meeting will definitely be bound to the countries, not to the persons representing them,” Mr Don said. “I totally understand if some Thai people may not see it the same way as many people in other countries do,” he said. Source:Bangkok Post Print Edition

ECONOMICS

• Vietnam’s economy rises while Thailand’s falls. With Vietnam’s annual GDP growth of 5-6 percent, academics are concerned that Thailand’s crippled economic growth of 3 percent is not realizing its full potential.  Vietnam’s turning point is its regulatory reform that matches OECD standard. This has facilitated FDI from multinational companies into Vietnam, which will help Vietnam surpass Thailand as a destination for the relocation of manufacturing facilities in 10 years.  Academics urge Thailand to negotiate more free trade agreements, while the Thai Chamber of Commerce suggests Thailand becomes an alliance of Vietnam, rather than compete with it, on green economy. Source: Krungthep Turakij Print Edition
• New VAT mulled that targets luxury goods. Finance Ministry is considering launching the a two-tier value added tax (VAT) rate to generate additional revenue of over 100 billion Baht.  The system will use the current VAT rate of 7 percent for general goods and services and a higher rate of 10 percent for luxury items, such as liquor and cigarettes.  The two-tier system is unlikely to impact most Thais as they consume general goods and services. Sources: Bangkok Post, Matichon
• Unveiling 14 conditions for True-DTAC merger. On 12 October, NBTC will make a vote on the 14 measures it proposed to regulate the merger of the two telecom giants. Experts said the measures are full of loopholes and will facilitate the merger.  The Consumer Council of Thailand added the 14 measures do not regulate service fee and price, indicating that the NBTC is in favour of the merger and the capitalists. Source: Krungthep Turakij Print Edition
• Agricultural export in August shrinks significantly – weak Baht causes trade deficit of 4 billion USD.  Ministry of Commerce reported that export in August expanded by 7.5 percent YoY (valued at 23.6 billion USD), despite the 10.3 percent decline in agricultural product export.  This is an 18^th consecutive month of growth that is in line with the recovery of the global economies. Import rose by 21.3 percent (valued at 27.8 billion USD), resulting in a trade deficit of 4.2 billion USD.  Ministry of Commerce said the deficit owes largely to Thailand having to import natural gas and oil, for which inflation has caused the price to go up by 168.7 percent and 28.3 percent, respectively.  In the first 8 months of 2022, Thailand’s export grew by 11 percent (valued at 196.4 million USD) and import by 21.4 percent (210 billion USD), resulting in a deficit of 14.1 billion USD. Commerce Minister Jurin Laksanawisit remains optimistic that exports will expand well over the remaining months of this year and exceed the growth target set at 4-5 percent compared to 2021. Source: Krungthep Turakij, Bangkok Post

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