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Australian Embassy Updates

Daily Updates on COVID-19

Headlines summary as of 8 July 2020

July 8, 2020

News  

  • Updates related to COVID-19:
    • Today Thailand reports two newly confirmed cases, a total of 3,197 cases. Out of the total number, 3,074 have been discharged from hospital; 65 are being hospitalised (at 96.15%). The death toll is at 58. The newly confirmed cases are Thais who returned from India and Indonesia and have been in the state quarantine since. This is the 44th consecutive day that there is no local transmission in Thailand.

Politics

  • Media has been alerted that the Army Chief Apirat will hold a press conference this afternoon on two issues: the army invitation of the US Army Chief to Thailand with exemption of quarantine and the rumours over the weekend that Gen Apirat will extend his terms as the Army Chief after his retirement the end of September. As for the first issue, there was a report that the Royal Thai Army has asked other authorities to clear all COVID-19 restrictions to the first foreign group to visit Thailand. This exemption has sparked a public sentiment of CCSA hypocrisy.
    • An opinion piece quote Dr Panitan Wattanayagorn, a political scientist, who said that the two army chiefs are scheduled to sign the “Strategic Vision Statement”.—Thai Post
    • Opinion piece speculating the reason why the US Army Chief choose to visit Thailand amidst the pandemic points out the visit aims to win over Thailand in regional Sino-US spats. Media quoted bit and pieces of the US Army Chief’s vision of American defence in Indo-Pacific, including the establishment of a new US base with short-range missiles to deter Chinese more advanced defence technology.—Post Today
  • Related to the issue of cruelty against monkey in coconut business, the secretary-general of the newly established Kla Party posted in his social media account juxtaposing the usage of monkey for coconut with the usage of hog for truffles.—all media outlet

Business:

Face Mask

CPTPP

  • Despite the trade pact’s numerous market access benefits, Dept of Trade Negotiation’s Director-General Auramon insists Commerce Ministry will not submit CPTPP for cabinet’s consideration as earlier reiterated by Commerce Minister Jurin.  DG Auramon said some other ministry will have to present it to the cabinet – the question being which ministry.  The Parliament CPTPP Committee said the Thai government could still join the 5th August CPTPP negotiation even if the studies conducted by parliament committee are not yet concluded.  The deadline for the parliament committee’s studies is extended to 10 September 2020.  Source:  https://www.thansettakij.com/content/438831Tourism:

Tourism

  • Tourism Authority of Thailand (TAT) adjusted its forecast that the number of foreign tourists this year may plunge 80 percent to 8.2 million as revenue slides to 396 billion Baht, with international air traffic regaining just 10 percent of the pre-pandemic schedule.  Thailand received zero international arrival in Q2 and is expected to welcome 300,000 arrivals in Q3 and 1.2 million in Q4.  Source:  https://www.bangkokpost.com/business/1947548/tat-predicts-80-plunge-in-arrivals

Others

  • A full meeting of economic ministers will be held this Friday, the first since March, to discuss ways to revitalise the economy, with measures to help more than 3 million SMEs high on the agenda.  The economic minister will meet every 2 weeks, with the next meeting slated for 24 July and will discuss measures to rehabilitate tourism.  Source: https://www.bangkokpost.com/thailand/general/1947456/ministers-to-push-help-for-smes
  • Kasikorn Research Centre forecasts that restructured debts could take up 30 percent of total bank loans and could weigh heavily on banks if businesses do not rebound by the end of the year.  The economic contraction will be worse than the 1997 crisis. 
  • Krungsri Research Centre predicts that the Thai economy will contract by 10.3 percent this year and will grow by 2.9 percent next year, only to return to pre-crisis level in 2023.  Local corporates also need up to 1.7 trillion Baht liquidity injection to survive the pandemic.
  • Bangkok Bank said the impact the pandemic has on the economy is the worst in 120 years and that the planned investment in the EEC may not be enough to jumpstart the economy.  The challenge is to boost the productivity of the agriculture sector or migrate them to the industrial sector. 
  • Siam Commercial Bank predicts a 7.3 percent GDP contraction and urges the government to give liquidity support to SMEs as they highly fragile.  Recovery is expected to be U-Shape given Thailand’s heavy dependence on international demand.  Source:  https://www.nationthailand.com/news/30390865

ASEAN/World

  • From Singapore to Thailand, why are political sibling rivalries such a huge draw?—South China Morning Post
  • Brazilian President has been tested COVID-19 positive.—Xinhua Thai

Headlines summary as of 7 July 2020

July 7, 2020

News  

  • Updates related to COVID-19:
    • Today Thailand reports no newly confirmed cases, a total of 3,195 cases. Out of the total number, 3,072 have been discharged from hospital; 65 are being hospitalised. The death toll is at 58. This is the 44th consecutive day that there is no local transmission in Thailand.
    • Following the leak over the weekend about the visit by the US Army Chief to Thailand, public sentiment and media has turned against the ‘not-so-strict’ COVID-19 countermeasures against the first ever official guests since the pandemic starts. CCSA dismissed the news by saying yesterday that the delegation won’t be quarantined at state facilities, but they will be required to wear face masks during their talks with the prime minister. The delegation will need to be vetted for COVID-19 prior to boarding and after arrival to Thailand. Gen James McConville is scheduled to meet the Army Chief Apirat and PM Prayuth.—all media outlet
    • The Royal Thai Police is forming a special task force to track down tourists infected with Covid-19 as Thailand prepares to reopen its airspace to travellers. Though remains unclear on to what extent the police will monitor tourists. The Tourist Police also propose the creation of an online application (additional) to track tourist movement.
    • Tanarak Plipat, deputy director-general of the Disease Control Department posted on his Facebook expressing his discomfort about Thai people is getting more careless and that the second wave of the pandemic could be imminent. He said that some stores are focusing more on the short-term economic gains than public health concerns, allowing people to sit-in without social-distancing or allow people without a face mask to enter the store.—Than Settakij
    • 52 Chinese business persons is scheduled to arrive Thailand today and will need to be in state quarantine for 14 days.—Khao Sod
  • Last evening, their Majesties have returned to Thailand to change the robes of the Emerald Buddha to mark the beginning of rainy season. In the morning, their majesties allowed the audience of Deputy PM and Minister of Public Health Anutin to brief on COVID-19 situation. HM the King also donated 13 COVID-19 mobile testing vans. —all media outlet
  • Water level of Thailand’s biggest land dam naming after the Queen Mother Sirikit is at a low level (at 7 percent) due to the drought and intermittent rains. The authority believes that in August-October when rains are expected, the situation of the dam will be better.—Krungthep Turakij

Politics

  • Media report on the rumour that the Army Chief Apirat will not go to retirement from the army this September as expected, but will extend his term as the chief of the most influential force in Thailand. The report traces and wrote that  General Chaloemchai Srisawat might like to compete for the next Army Chief as General Nattaphon Narkphanit who is working closely with the PM during COVID pandemic will be nominated for Chief of the Defence Force, the position General Chaloemchai has been eyeing for.—Than Settakij
  • The main opposition Pheu Thai Party is set to hold a general assembly at 10.00 hrs on July 10. Media speculates whether the party will make any adjustment to its executive board or not, as the internal rifts within the party have been imminent.
  • Super Poll released the result of its latest survey asking should there is an election today, MPs from which party that they will vote for. The result shows that 16.7% will vote for Move Forward; 15.7% will vote for Pheu Thai; 8.7 will vote for Democrat; 8.3% will vote for the main ruling Palang Pracharat Party (PPRP); 6.0% will vote for Bhumjaithai.–Matichon

Business (kindly supplied by Khun Duangporn)

Coconut Export Ban

  • The Coconut Grower Network of Prachuab Kirikan province said the UK’s banning of Thailand’s coconut products is a trade barrier imposed as a pretext to condemn Thailand’s undemocratic political system.  The price of coconut is feeling the repercussion and has dropped from 20 Baht to 16 Baht.  Source:  https://www.thansettakij.com/content_Macro_econ/441003

Government’s Stimulus, Monetary and Fiscal Packages

Others

ASEAN/World

Australia

  • Prof Dr Pasuk Phongpaichit, an alumni for Bachelor and Master Degree at Australian Monash University, has been appointed as a member of the Royal Society of Thailand on Economics.—Khao Sod
  • The Thai outlet of China Radio International published its opinion piece criticising the stern Chinese stance of Australian politicians. The article wrote that “some Australian politicians should know that they should adjust their stances on China for the sake of Australians’ interests.”—CRI Online Thai

Headlines summary as of 6 July 2020

July 6, 2020

News  

Updates related to COVID-19:

  • Today Thailand reports five newly confirmed cases, a total of 3,195 cases. Out of the total number, 3,072 have been discharged from hospital; 65 are being hospitalised. The death toll is at 58. The new case arrived from Kuwait and have been in state quarantine. This is the 43rd consecutive day that there is no local transmission in Thailand.
  • Health Service Support Department said the government will only allow foreign patients who have tested negative for Covid-19 to enter Thailand for treatment. All foreigners arriving for “medical tourism” visits are required to take three Covid-19 tests and enter a 14-day quarantine at a medical institution.
  • The 13th Asia-Europe Meeting (ASEM) scheduled to be held in Cambodia in November has been postponed until mid-2021 due to the Covid-19 pandemic  –  Daily News
  • Major western retailers have begun to pull Thai coconut products from their shelves amid allegations the coconuts were picked by poorly treated monkeys. Commerce Ministry dismissed claims by an animal rights group that monkeys trained to pick coconuts were maltreated and announced plans to take foreign diplomats on a visit to see the monkeys at work for themselves. — Manager

Politics

  • Suthep said the Action Coalition for Thailand (ACT) has decided to nominate Anek Laothamatas, another founding member of the party, for the post of labour minister if there is a cabinet reshuffle, replacing MR Chatu Mongol Sonakul, who recently resigned as leader of the five-MP party  — All media outlet
  • Action Coalition for Thailand Party elected secretary-general Taweesak Na Takuatung as party leader, replacing Labour Minister MR Chatumongol Sonakul who resigned recently  –  All media outlet

Business:

CPTPP

  • To join the CPTPP, Asia Foundation suggests policymakers should consider if Thailand’s socio-economic and political conditions meet the requirements for necessary reforms and restructuring. 
  • JETRO reiterates that the importance of CTPP is increasing post-Covid19 as countries reorganise their supply chains.  Japan supports Thailand to join the CPTPP.   It now prioritizes investing in countries with economic partnership agreement.  As such, if Thailand does not join the CPTPP, Japanese companies might bypass Thailand and instead invest and produce in Vietnam.
  • China declared that it has an open and positive attitude toward joining the CPTPP.  CPTPP could help China reduce its reliance on the US market and provide another avenue for China to integrate with other Asia-Pacific countries. 
  • Dr Pavida Pananonda of Thammasat Business School said the government has not undertaken sufficient public consultation, but is instead rushing into the negotiation process.  It does not have a clear understanding of the potential impacts of intellectual property protection related to plant varieties and therefore cannot generate policies that could mitigate its adverse impacts on local farmers.  Source:  Asia Focus Section, Bangkok Post, 6 July 2020

Others

  • Inflation declined by 1.57 percent YoY in June following a 3.44 percent decrease in May, marking the fourth consecutive month of declines. The June figure was better than expected, owing to the rebound of the service sector due to the easing of the lockdown.  Nevertheless, Commerce Ministry still expects deflation to range between -7.6 – 8.6 percent, greater than originally forecasted.  Source:  https://www.bangkokpost.com/business/1945464/deflation-likely-to-deepen-says-commerce-ministry
  • The National Economic and Social Development Council (NESDC) insists the 400-billion-Baht budget earmarked for economic and social rehabilitation projects is instrumental in stopping the Thai economy from plunging more than 5-6 percent this year. The first batch of budget worth 80-100 billion Baht is scheduled to be implemented in July, the second batch worth 100 billion is to go before the cabinet in August, and the rest worth 100 billion Baht each in September and October.  Source:  https://www.bangkokpost.com/business/1946460/nesdc-looks-to-b400bn-budget
  • The aviation industry is anticipated to recover at a slow pace, most likely taking more than a year to return to pre-pandemic level.  Although domestic flights are resuming, carriers will still struggle as domestic flights usually do not generate profit.  Airlines are also not benefitting from the government’s assistance and tourism stimulus package.  Source:  https://www.bangkokpost.com/business/1946360/priority-boarding
  • Bangkok and Chiang Mai remain among the 30 most expensive cities for expats in Asia, according to the latest ECA International Survey.  Bangkok was ranked 28th and Chiang Mai 29th.  ECA International said the growing economy and increased foreign investment during pre-pandemic era had made Thailand more expensive, combined with the stronger Baht.  Source:  https://www.bangkokpost.com/business/1945444/thai-cities-getting-pricier-for-expats
  • The Ministry of Foreign Affairs has joined forces with private sectors to set the direction of economic diplomacy with Lower Mekong Basin Countries.  The discussion centred on increasing trade cooperation, investment and border trade with Cambodia, Laos PDR, Myanmar, and Vietnam.  Source:  https://thainews.prd.go.th/en/news/detail/TCATG200706112018630

Australia

  • Australia will effectively seal off the state of Victoria from the rest of the country, announcing unprecedented measures to tackle a worrying surge in coronavirus cases  — Bangkok Post

Headlines summary as of 3 July 2020

July 3, 2020

News  

  • Updates related to COVID-19:
    • Today Thailand reports a newly confirmed cases, a total of 3,180 cases. Out of the total number, 3,066 have been discharged from hospital (or at 96.42%); 56 are being hospitalised. The death toll is at 58. The new case arrived from Bahrain and have been in state quarantine. This is the 39th consecutive day that there is no local transmission in Thailand. 
    • The spokesperson of CCSA said that the centre concerns that the long weekend between 4-7 July could lead to the 2nd wave of COVID-19 transmission.
    • Meanwhile, the highway authority has granted a free access for people using “motorway” in the upcoming long weekend.
    • Attention is now focusing on when the Centre for Covid-19 Situation Administration (CCSA) will allow contact sports like boxing and football to resume after night entertainment venues opened their doors in the fifth phase of lockdown easing. The Minister of Public Health gave an interview that the CCSA is looking into it.

Politics

  • The main opposition Pheu Thai Party will field a former candidate, to contest the upcoming by-election in Samut Prakan’s Constituency 5. Meanwhile, the Move Forward Party also announced that the party will file the candidate to fill in the vacancy. Earlier the two parties are reportedly in an agreement not to compete each other in the by-election.–all media outlet

Business:

CPTPP Seminar organised by Joint Standing Committee on Commerce, Industry and Banking (JSCCIB), 2 July 2020

  • Speaking at the seminar, Mr Hugh Robilliard, Acting Deputy Head of Mission, Australian Embassy, said CPTPP has enabled the Australian economy to expand to trade with countries that it has no previous FTAs with, such as Canada and Mexico.  While it is not yet evident if CPTPP has helped Australia’s trade and investment to grow within the past year, Australia expects to see growth in the ensuing period.  Australia congratulates Thailand for considering negotiating the CPTPP.  Mr Robilliard stresses the importance of the Thai government being open to opinions from all sectors, which will lead to public acceptance of Thailand’s accession.  Source:  https://www.naewna.com/business/503011
  • Kalin Sarasin, President of Thai Chamber of Commerce, said the Japanese Chamber of Commerce supports Thailand to join CPTPP.  CPTPP could incentivise Japanese businesses to invest in Thailand, otherwise Japan may relocate its investment to Vietnam.  Japan sees Vietnam, a CPTPP member, as Thailand’s replacement.  To this end, TCC urges the Thai government to quickly decide if it will join CPTPP.  Kalin added that if Thailand were to apply for accession next year, the negotiations could be more difficult as it will not be a founding member.  It will have to negotiate with more member countries – totalling 11 rather than 7 countries.  Source: https://mgronline.com/daily/detail/9630000068247
  • Government’s Remedial Payment
    • The 1.14 million holders of state-welfare cards will each receive 3,000 Baht as remedial payment on 4 July through an e-wallet system.  Additionally, ‘vulnerable’ groups of people (newborns, elderly and disabled) will also receive 3,000 Baht each as remedial payment within July.  These recipients received no previous assistance from the government, with the 3,000 Baht being an accumulation of 3 months worth of payment (1,000 Baht each from May to July).  Source:  http://www.mof.go.th, Thai Government fb page, 3 July 2020

Others

  • The government confirms that the major EEC infrastructure projects remain on course, namely 1) the hi-speed train linking 3 airports, which is slated to open in year 2024-2025; 2) U-Tapao and Eastern Aviation City, Phase 1 in 2025; 3) Laem Chabang port Phase 3 in 2025 and 4) MRO at U-Tapao airport in 2023.  Source:  National News Bureau fb page, 3 July
  • DPM Somkid ordered relevant authorities to establish a new mechanism that will enable aviation, tourism and hotel operators to keep employees on payroll.  This may include the Bank of Thailand’s soft loan being extended to SMEs with credit line exceeding 500 million Baht if they keep employees on their payroll.  DPM Somkid also ordered the Bank of Thailand to extend debt relief scheme to support businesses and individuals who are affected by the pandemic.  Source:  https://www.bangkokpost.com/business/1945032/somkid-rustles-up-larger-sme-loans
  • PM Prayut has ordered the economic cabinet to meet every two weeks to address economic rehabilitation endeavours in the next 6-12 months.  DPM Somkid assigned related agencies to prepare additional 100 billion Baht worth of packages for implementing economic rehabilitation plans.  Source:  https://www.bangkokpost.com/business/1944944/economic-cabinet-told-to-meet-every-2-weeks
  • Consumer Confidence Index picked up in June for the second straight month, boosted by business reopening and the government’s stimulus measures, according to Thai Chamber of Commerce University.  Despite the surge, the index remains at historically low since October 1998.  The University also forecasts the Thai economy will shrink by 8-10 percent this year.  Source: https://www.bangkokpost.com/business/1944884/june-sees-consumer-sentiment-recovery-albeit-to-still-low-level
  • Hotel businesses will be exempted from paying an annual fee to the government until 2022 to reduce their burden in the aftermath of the Covid-19 pandemic outbreak.  The announcement was published in The Royal Gazette and is effective from 1 July 2020 – 30 June, 2022.  Source:  https://www.nationthailand.com/news/30390649
  • DPM Somkid urges US investors to develop a Silicon Valley-like centre for global start-ups and tech firms in the EEC zone, for which special investment packages will be devised.  DPM Somkid also markets Thailand as the most appropriate location for the US’s investment and supply chain development in Southeast Asia.  Source:  https://www.bangkokpost.com/thailand/general/1944952/govt-wants-to-attract-us-tech-firms

 Australia

  • Australia, the US and UK responded to the passing of Hong Kong security law by China. PM Morrison said the Australian cabinet is preparing to allow Hong Kong to settle in Australia.—Matichon

Headlines summary as of 2 July 2020

July 2, 2020

News

  • Updates related to COVID-19:
    • Today Thailand reports six newly confirmed cases, a total of 3,179 cases. Out of the total number, 3,059 have been discharged from hospital (or at 96.23%); 62 are being hospitalised. The death toll is still at 58. The new cases arrived from Indonesia (4), South Africa (1) and South Sudan (1) and have been in state quarantine. This is the 38th consecutive days that there is no local transmission in Thailand.
  • The Interior Minister has ordered all local authority to hold celebrations for the King in his upcoming Birthday on 28th. The PM has asked for cooperation from cabinet and state officials to wear yellow costumes for the rest of the month.—Thai Post, Naew Na, Manager

Politics

  • Bangkok MP Sira Jenjakha from the main ruling Palang Pracharat Party (PPRP) has been spared by the Constitutional Court after court judges ruled in favour of him. The MP was accused of abusing of power when we was filmed scolding at a police officer when the MP was in Phuket.
  • The Constitutional Court has also rejected a petition asking it to rule on the eligibility of Thamanat Prompow, the deputy Agriculture Minister and PPRP MP for holding a seat in parliament due to his wife’s business dealings with The Port Authority of Thailand (PAT).
  • The Parliament debate is in session and the opposition MPs have grilled the government budget, particularly in the sections related to defence. The PM and Defence Minister Prayut defended the decision to include the procurement of weapons for the armed forces in the budget bill for 2021.
  • The National Anti-Corruption Commission (NACC) found former Prime Minister Yingluck Shinawatra guilty of abusing her power in violation of Section 157 of the Criminal Code for the unlawful transfer order of Thawil Pliensri from his post as secretary-general of the National Security Council (NSC) 9 years ago. –Thai Post
  • Media reports that the PM as the head of the government economic team has ordered an urgent economic ministers meeting on Friday to discuss on plans to help out SMEs to curb with the effects of COVID-19.

Business:

Face Mask Export Ban

  • Commerce Ministry has extended the face mask export ban for another 6 months, effective from 1 July 2020 until 3 February 2021.  The announcement is published in The Royal Gazette on 1 July.  This is to ensure there is sufficient supply of face masks for local medical staff and the general Thai population.  Source:  https://www.thansettakij.com/content/normal_news/440495

CPTPP

  • Commerce Ministry’s Department of Trade Negotiations said Thailand may not be able to submit a formal request to join the trade pact within this year.  The parliament-appointed CPTPP committee has asked to postpone the completion date of their studies on CPTPP for an additional 60 days, or 10 September, after which the cabinet will decide if Thailand should join the pact.  Source:  https://www.bangkokpost.com/business/1944320/cptpp-discord-delays-entry

Tourism

Others

  • The World Trade Organization on 18 June prohibited members from banning food exports imposed during Covid19 outbreak.  Thailand reasoned that it did not violate WTO’s prohibition since it already lifted the one-month ban on egg export, which ran from March to April.  Source:  https://www.nationthailand.com/news/30390580
  • The Thai Bankers’ Association (TBA) is in talks with the Bank of Thailand to seek ways to tweak the 500-billion-Baht soft loan criteria.  The goal is to increase the soft loan disbursement by offering it with objectives and easing some conditions to enable SMEs to access them.  Source:  https://www.bangkokpost.com/business/1944388/tba-talks-soft-loan-criteria-with-bot

Australia

  • More media starts to report on the PM plan to increase the defence budget to 40 percent in the next 10 years to curb the Chinese influence in the region.—Thai rath, Matichon, Nation TV

Headlines summary as of 1 July 2020

July 1, 2020

News

  • Updates related to COVID-19:
    • Today Thailand reports two newly confirmed cases, a total of 3,173 cases. Out of the total number, 3,059 have been discharged from hospital (or at 96.41%); 56 are being hospitalised. The death toll is still at 58. The new cases arrived from Kuwait and have been in state quarantine. This is the 36th consecutive days that there is no local transmission in Thailand.
    • The cabinet has sealed off the extension of the emergency decree to be until the end of July in a bid to avoid the second wave of transmission of the COVID-19. The government spokesperson told the media in a briefing that The cabinet approved the extension because the global pandemic is still ongoing.
    • With the recent lock-downs in the past two-three months, the food and online delivery services surged, but as some customers complained about the skyrocketing prices, Thai cabinet approved measures to regulate food and online delivery services. The price control comes into force on July 4 and will be reviewed again in one year. The control list aims to prevent operators from setting unfair prices and other conditions.–Reuters
    • CCSA welcomes the European Union decision to reopen its borders to travellers from 14 countries, including Thailand.
  • Today marks the 45th anniversary of Thai-PRC diplomatic relations, Chargé d’affaires published its Op-Ed on “Weathering the storm and advancing development towards a greater future of Chinese-Thai relations”.—Manager, Matichon, Krungthep Turakij

Politics

  • Media reports that the newly appointed leader of the main ruling Palang Pracharat Party (PPRP) Deputy PM Prawit told the media prior to attending the cabinet meeting yesterday that he already picked 9 deputy party leaders. DPM Prawit said the new economic direction of the party is in drafting process, but will be focusing on the grassroots.—all media outlet
  • A source said about the prospective cabinet reshuffle that the reshuffle will be discussed in late July at the earliest. Now the ministers are stepping up its performance to exhibit to the PM that they are worthy of the portfolio.—Krunghtep Turakij
  • The Supreme Court has ordered a new election re-run in Constituency 5 of Samut Prakan province an MP of the PPRP was given a yellow card for vote-buying. The Move Forward Party has announced that it is ready to field a candidate to contest the re-election.—all media outlet
  • The House is debating the budget bill for the 2021 fiscal year in the first reading. Opposition MPs set to grill the budget bill, targeting the Ministry of Defence expenditure.
  • At 3 pm today, the Constitutional Court is set to give its verdict on the case of PPRP MP Sira Jenjaka for scolding and abuse of power at a police officer in Phuket when he was seen scolding at the police officer.

Business:

CPTPP

  • The Parliament’s CPTPP Committee will ask for a 60-day extension on the deadline for their studies to fully explore the myriad of controversial issues.  The committee also advised that the government should take its time to examine the pros and cons of CPTPP accession, even if it means being unable to join the 5th August CPTPP negotiation.  Currently several countries have announced their interest to join CPTPP, but none has sought accession, much like Thailand.   Source:  https://www.bangkokbiznews.com/news/detail/887362

Cabinet’s decisions, 30 June 2020

PPE

Tourism

  • Tourism Council of Thailand (TCT) said that in Q2, some 65% of tourism businesses were closed with 2.6 million employees furloughed.  Association of Thai Travel Agents (Atta) said that although the country is set to open to six selected groups of foreigners, they make up only 5 percent of the overall inbound market.  If the industry remains deprived of international tourists, operators will have to exit the market in 6 months especially since they have no income and cannot access soft loans.  Source:  https://www.bangkokpost.com/business/1943656/confidence-index-plummets-jobs-lost

Others

  • World Bank forecasts that the Thai economy could contract by 5 percent and could take two years for it to rebound to pre-Covid 19 level.  In the process, Thailand’s unemployment number could reach 8.3 million, while those with no economic stability who earn less than 176 Baht (5.5 USD) has doubled from 4.7 million in Q1 to 9.7 million in Q2 this year.  Source: https://inews.bangkokbiznews.com/read/406789
  • While Industry Ministry’s Department of Industrial Works (DIW) gauged that the Covid19 impact will not be evident until Q2 or Q3 of 2020, it reported a 10.2 percent YoY increase in applications for the expansion and setting up of new factories from Jan-June 2020.  These factories will generate 123,794 new jobs, with the highest number of employments created by the electrical appliances & equipment, machine manufacturing, metal and plastic products.  Nonetheless, 16,680 factory workers also lost their jobs within the same period through the closures of 404 factories.  Sources: https://www.bangkokpost.com/business/1943672/crisis-shutters-404-factories  https://www.nationthailand.com/news/30390539
  • Despite the increase in non-performing loans, the Bank of Thailand is confident that commercial banks’ capital buffer is strong enough to weather the turbulence, unlike in 1997.  BOT is more concerned about unemployment number, which was 330,000 in May as reported by Social Security Fund.  Source: https://www.bangkokpost.com/business/1943652/central-bank-allays-npl-concerns

Australia

  • A local media quoted Bloomberg about the increase of defence budget in the next 10 years after the situation surrounding South China Sea shows sign of conflict.—Work Point Today

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