Category: Business

The baht touched its weakest level in more than two months at 35.62 baht per US dollar. before returning to close the market at 35.60 baht per dollar. Depreciated compared to yesterday's market closing level of 35.51 baht per dollar.

Miss Kanchana Chokpaisansin Research executive Kasikorn Research Center Indicates that the baht is depreciating Corresponds to Asian currency and the Yuan amid weak signs of the Chinese economy as reflected in the numbers of Chinese exports in August that continued to shrink. Even at a rate less than the market expected.

In addition, the dollar There is also support from the market reevaluating the possibility of seeing the Fed raise the policy interest rate again for the rest of the year. For today's fund flow direction Foreign investors net sold Thai stocks for 850.16 million baht but had a net inflows status into the Thai bond market for 595 million baht.

As for the movement of the baht tomorrow, it is expected to be at 35.50-35.80 baht per dollar. Important factors that need to be followed include the direction of foreign capital. Yuan currency situation Japan's 2Q23 GDP numbers (final) and statements from Fed officials. .

Source: Thai News Agency

Bangkok, Aug. 25-BOT-Central Bank of Indonesia-Central Bank of Malaysia. enhance cooperation in promoting the use of local currencies to settle bilateral transactions between them

central bank of indonesia central bank malaysia and the Bank of Thailand has prepared a memorandum of understanding as a framework for cooperation in promoting the use of local currencies to settle three bilateral transactions on August 25, 2023, signed by the Governor of the Central Bank of Indonesia, Mr. Perry Warjiyo, the Governor of the Central Bank of Malaysia, Mr. Abdul Rasheed Ghaffour. and Mr. Sethaput Suthiwat Narueput Governors of the Bank of Thailand (BOT) during the ASEAN Finance Ministers and Central Bank Governors' Meeting (AFGMM) in Jakarta. Indonesia

The three central banks are committed to enhancing such cooperation. It has expanded its scope to include other types of international transactions in addition to direct trade and investment. This will be done gradually. to support more efficient access to local currency settlement transactions

Memorandum of Understanding Its purpose is to support international economic activities. strengthening the stability of the regional money markets and help develop the local currency markets of the three countries.

Source: Thai News Agency

BANGKOK, Aug. 25 – The Central Bank of Vietnam joins cooperation in linking regional payment systems to expand the MOU RPC to 6 banks.

The State Bank of Vietnam (SBV) has formally joined the Regional Payment Connectivity (RPC) cooperation. This is an extension of the Memorandum of Understanding on Cooperation in Regional Payment Connectivity (MOU RPC) initiated by the central banks of Indonesia, Malaysia, the Philippines, Singapore and Thailand during the G20 Summit on May 14. Nov. 2022 in Bali

The SBV signed the MOU RPC attachment during the meeting of the finance ministers. and the 10th ASEAN Finance Ministers' and Central Bank Governors' Meeting: AFMGM on 25 August 2023 in Jakarta, Indonesia. It was witnessed by the current members of the MOU RPC, including Central Bank of Indonesia, Malaysia, Philippines, Singapore and Thailand. The expansion of membership under the MOU RPC is in line with the guidelines entrusted by the 9th AFMGM and is also one of the key goals of Indonesia's ASEAN Chair 2023.

The RPC was initiated to promote cooperation in developing cross-border payments that are faster, cheaper, transparent and more accessible to users. This includes QR code integration and fast payment integration. RPC's goal is to make cross-border payments seamless, convenient and cost-effective. To help people and businesses make transactions between ASEAN countries more conveniently.

The SBV's participation will increase the number of central banks in ASEAN under the MOU RPC from five to six. In ASEAN, as well as promoting tourism and other service industries, increasing the number of members in the MOU RPC will benefit small and medium-sized businesses that are a key contributor to the region's economic growth. each other It will increase the volume of trade and money transfers within the ASEAN region. and promoting access to financial services. In the next phase, RPC can be extended to neighboring countries and other countries outside ASEAN. This will make ASEAN more connected to the global economy.

Pham Thanh Ha, Deputy Governor of the Bank of Vietnam SBV, who represented SBV at the signing ceremony, said SBV is pleased to be a new member of the MOU on Regional Payments Cooperation. And hope to have close coordination between all parties to promote fast cross-border payments. It is cheaper, more transparent and more accessible to users. The MOU RPC represents the unity of ASEAN and is a good starting point for promoting regional economic integration. and develop payment links to make ASEAN a global leader in such areas.-Thai News Agency

Source: Thai News Agency

Nonthaburi, Aug. 25 - The Department of Internal Trade indicates off-season rice, rice and glutinous rice. starting to get involved does not affect the farmers The price of bagged rice has not moved, and the price of pork has started to improve close to the previous week. southern mangosteen 70% of the output has been released, the price is better than last year, joining forces with 3 agencies to transport agricultural products food and fishing events "Grilling in the middle of the city" at the beginning of September at Central World. Bangkok helps farmers

Mr. Wattanasak Sueaiam, Director-General of the Department of Internal Trade, spoke about the weekly price situation that The price of jasmine rice paddy was priced at 15,800 baht per ton, Pathum Thani paddy was at 13,700 baht per ton, in-season paddy was at 12,400 baht per ton, and glutinous long-grain paddy was priced at 15,300 baht per ton, considered to be within the criteria that farmers were satisfied with at the said level. Off-season rice, off-season rice and glutinous rice started to relate even earlier Many areas are experiencing drought. But many areas have a lot of rain. As a result, many areas do not have much problems with cultivation of off-season rice. The Department of Internal Trade and related agencies have closely monitored the drought situation. And that many parties from the problem of rising paddy prices may cause the price of packed rice to be more expensive. The Department has followed up and saw that The price of bagged rice in department stores has not moved up. The entrepreneurs also cooperate. The average price of a 5-kilogram bag of rice is 119 baht.

The price of cassava is 3.30 baht per kilogram. The price of maize is 11.10 baht per kilogram. The price of palm oil is 5.50 baht per kilogram and may go up to 5.90 baht per kilogram. In terms of the price of red pork This week, the price has improved to 134.75 baht per kilogram, which is the average price across the country. As for the price of red meat pork, the Department of Internal Trade has cooperated with the Department of Livestock Development to continuously monitor pork stocks. If an illegal act is found, you can report it to number 1569 of the Department of Internal Trade.

As for chicken prices, for example, thigh-tight leg 78.25 baht per kg, chicken drumstick 81.88 baht per kg, chicken thigh 83.69 baht per kg, chicken breast 77.06 baht per kg, egg number 3 price is 4.31 baht per kg, tilapia price is 73.90 baht per kg, average catfish price per kg. The average price was 76.50 baht per kilogram, the price of white shrimp was 182 baht per kilogram, the average price of kale was 37.90 baht per kilogram, Chinese cabbage was 34.80 baht per kilogram, the price of Chinese morning glory. The average price was 31.90 baht per kilogram, spring onions were 85 baht per kilogram, coriander was 125 baht per kilogram, lime no. very past

while the mangosteen in the southern region About 70% of the production has started. The export price is 42-46 baht per kilogram, which is considered a better price than last year. Assorted parts of mangosteen There will be a price of 20-30 baht per kilogram, while 60% of the already produced longan, export-grade longan will cost 35-40 baht, and the fallen longan is 23 baht per kilogram. and then the fallen longan The price is 12-15 baht per kilogram.

Mr. Wattanasak said that Between 1-7 September this year, 3 agencies are Department of Internal Trade The Department of Livestock Development and the Department of Fisheries are preparing to hold a “Grill in the City” event on the patio outside the Central World Department Store. Bangkok By allowing the farmers to bring agricultural crops, fresh and processed food, including fishery products to open booths to sell products to Bangkok people to buy cheap products and is also another channel for distributing agricultural products.-News Agency Thai

Source: Thai News Agency

Bangkok, August 20 – DSI warns not to be fooled by fake Facebook pages impersonating the name of Amata Corporation Public Company Limited to deceive investors.

Department of Special Investigation by the Financial Informal Business Litigation Division Received a clue that there was a fake Facebook by using the name of Amata Corporation Public Company Limited, located in Chonburi province. There are behaviors deceiving the general public to invest with the company through various funds. in expanding and operating the business of the company by offering higher returns than what is required by law There are many types of investment scams, such as Day Trade type, opening an investment portfolio. And invest a minimum amount of 1,000 baht, will receive a return of 12-30 percent of the invested money. or long-term dividends by opening an investment portfolio And invest a minimum of 20,000 baht, etc., including other forms of return, such as offering a return of 10-30% per month, which is a high interest rate.

When people are interested in investing Such groups of people will use a method to discuss investment details through personal communication channels (Inbox) of the Messenger application by adding friends and chatting through the Line application.

The Department of Special Investigation has found that there are as many as 73 fake Facebook pages and has coordinated with the legal department of Amata Corporation Public Company Limited and found that the company does not invest in such forms. and a complaint was filed with the investigating officer National Police Agency

In this regard, the Department of Special Investigation has issued a letter to Amata Company to continuously publicize and notify the public. Including a letter to the governor of Chonburi province. as the chairman of the Sub-Committee on the Prevention and Suppression of Informal Financial Business in Chonburi Province I know to be careful and protect.

The Department of Special Investigation would like to publicize a warning to the public not to believe in such deception. If you have any questions, you can contact the Department of Special Investigation hotline, call 1202 (toll free nationwide) or www.dsi.go.th. - Thai News Agency

Source: Thai News Agency

Bangkok, Aug. 18- KGI expects the Thai economy to grow 2.4% in 2Q23, down from 2.7% in 1Q23.

Mr. Prakrom Patomboon, Senior Vice President of Research Department, KGI Securities (KGI), expects the Office of the National Economic and Social Development Council (NESDB) to report Q2/2023 GDP on Monday, August 21, 2023. GDP is expected in the quarter. in 2Q23 will expand 2.4% compared to the same period last year, down from 2.7% in 1Q23 due to the economic slowdown. Reflected from the main economic index compared to the slowdown or contraction in the 2nd quarter, except for the improvement in the private consumption index and the service sector.

Positive factors that helped GDP growth in Q2/2023 were:

1) Private consumption services index continued to grow at a higher level compared to several previous quarters. Both from more foreign tourist arrivals and spending during the general election campaign on May 14

2) Foreign tourist arrivals continued to increase by 374% to 6.437 million in Q2/2023. from 1.583 million in Q2/2022, but slightly down from 6.477 million in Q1/

23 /23 Surplus of 11.043 billion baht ($2.945 billion) and in the second quarter of 2022, a surplus of 93.31 billion baht ($2.698 billion).

The negative factor weighing on 2Q23 GDP growth was

manufacturing production and private investment in 2Q23, which shrank by 5.7% YoY and 0.5% YoY, down from 3.7% YoY and 0.2% YoY in 2Q20. The 1st quarter of 2023 reflected a slowdown in domestic and international economic conditions. The 2Q23 current account returned to a deficit of 640.6 billion baht ($1.899 billion), compared to a surplus in the first quarter of 1387 billion baht ($3.961 billion). still shrinking Due to the high base caused by expenses for the case of COVID-19 last year, while government spending in the 2nd quarter of 2023 did not have such expenses and government spending that had to be wheeled according to the Por. Expense Budget Act 2023 because there is no Expenditure Budget Act 2024

Production side

1) Agricultural production (9.2%) is expected to expand by 3.5%YoY in Q2/2023 from agricultural production increasing by 0.6%YoY

2) Non-agricultural production (90.8%) is expected will expand 1.9%YoY, with manufacturing output (33.0%) falling 3.9%YoY, and services (57.8%) expanding 5.8%YoY.

spending

Private final consumption expenditure in the second quarter of 2023 will grow 6.1%YoY, supported by increased foreign tourist arrivals and pre-election spending. While farmer's income declined

2) Government final consumption expenditure will contract 4.9%YoY in 2Q23

3) Total investment will increase 1.5%YoY Government investment is expected to increase 2.2%YoY, while Private investment will increase by 1.3%YoY.

4) Inventory tends to decrease. Gold bullion stocks declined from gold prices in the world market returning to an uptrend, resulting in gold bullion sales. Crude stocks dropped as crude oil prices fell. While stocks of agricultural products will not change.

5) The current account in Q2/2023 returned to a deficit of 64.06 billion baht ($1.899 billion) .-Thai News Agency

Source: Thai News Agency

17 Aug – "Jurin" opens a trade show for intelligent logistics. at BITEC Bangna attracting Thai logistics operators Connecting businessmen around the world, creating 4,000 million baht

Mr. Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce presided over the opening of the logistics exhibition (TILOG-LOGISTIX 2023) together with Mr. Ekachat Sitaworarat, Deputy Permanent Secretary of the Ministry of Commerce, Mrs. Waraporn Thammajaree, Managing Director of RX Tradex, the management team of the Ministry of Commerce and logistics agencies at the Hall. 98 BITEC Bangna Exhibition and Convention Center

Mr. Jurin said that the Logistics Exhibition 2023 (TILOG-LOGISTIX 2023) was initiated by the cooperation of the Department of International Trade Promotion. and RX Tradex jointly organized an on-site event for the 6th year after COVID, this event has come to be fully organized once again. Logistics is one of the industries and services of the future that will play an important role in driving Thailand towards becoming a developed country. The government therefore attaches importance to the promotion and development of logistics, whether it is 1. Development of logistics systems. 2. Infrastructure development 3. Developing the potential and elevating Thai logistics service providers to the international stage and 4. Building cooperation in both connection. economic corridors with neighboring countries for the future of the country

Last February had the opportunity to lead the executives of the Ministry of Commerce together with the Thai private sector to sign an MOU to expand the logistics network with DP World of Dubai, United Arab Emirates. With a network of ports and airports covering the world, 78 ports on 6 continents and 240 airports with 318 destinations, this is a handicap for Thailand's logistics network to benefit. to increase export value in the future

In 2023, Thailand was ranked by the World Bank as the country with the world's 34th most efficient logistics system out of 139 countries and the 3rd in ASEAN. 3.5 (out of 5), which is considered to be Thailand's highest score ever ranked since 2007, reflecting the development potential and readiness of the country's logistics to move forward to the door. important trade in the ASEAN region and the world.

Today's TILOG-LogistiX 2023 event is organized under the concept of "Smart and Green Logistics for Sustainable Tomorrow", which is in line with global trends and sustainable environmental conservation with modern logistics technology. At today's event, there were 167 exhibitors/335 booths, more than 200 business matching pairs, and not less than 10,000 visitors. At the event between 17-19 August, more than 4,000 million baht

Ms. Nattiya Suchinda, Deputy Director-General of the Department of International Trade Promotion, said that the Department wants to create readiness and business opportunities for Thai logistics operators in expanding their business networks to the international level. Ready to push Thailand to become a logistics business center in the region. This event has received cooperation from more than 415 exhibitors from 25 countries to showcase a wide range of services and technologies. from logistics services Sorting and conveying technology, product packaging, intelligent and eco-friendly warehouse management system to IT systems and e-logistics There is a system to plan and manage cargo routes to be the shortest route. Minimal use of vehicles Warehouse management system uses solar energy. electric forklift Robot picking products that move independent in every way Cloud-based freight management, connectivity to online logistics marketplaces, and more.

Mrs. Waraporn Thammajaree, managing director of RX Tradex, added that the TILOG-LOGISTIX 2023 event is open until Saturday, August 19, 2023 at BITEC Hall 98 from 10:00 a.m. to 6:00 p.m. Those interested can visit the event free of charge. See more details on the website. www.tilog-logistix.com Ask for details at Tel. 02-686-7222 email contactcenter@rxtradex.com or via Line Official Account: @tilog-logistix . – Thai News Agency

Source: Thai News Agency

Nonthaburi, Aug. 17-“Jurin”, Minister of Commerce, brakes on raising the price of rice bags. Ready to call another meeting of the Association of Producers, Rice Mills and Department Stores Hope to help freeze the goods first to help reduce the cost of living for the people.

Mr. Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce Revealed about the situation of rice bags that now the price of paddy is much higher. It will be good for farmers, but when the price of paddy increases, the cost of packing rice will increase accordingly. therefore instructed the Department of Internal Trade to supervise the price of packaged rice to have the least impact on the public

In this regard, he ordered the Department of Internal Trade to consider ensuring that prices are within reasonable range for farmers to have better incomes. But don't let it affect you until you suffer too much. Which today, the Department of Internal Trade will meet with the Association of Rice Entrepreneurs Thai Rice Mills Association and various wholesale and retail departments which he had already ordered There is no permission to increase the price of rice.-Thai News Agency

Source: Thai News Agency

Cabinet approved two draft ministerial regulations to collect fees. Conversion of property funds into trust funds 0.01% of appraised value, not exceeding 100,000 baht

Ms. Tipanan Sirichana, deputy spokesperson for the Prime Minister's Office, revealed that the Cabinet meeting approved a draft ministerial regulation setting a fee for registration of rights and juristic acts related to real estate for the conversion of a property fund into a real estate investment trust. real estate investment and expenses related to condominiums for the conversion of property funds into trust funds. When converting a property fund into a real estate investment trust

The fee is 0.01 percent of the appraised value of the property or the cost of the leased or mortgaged property, but not exceeding 100,000 baht. Only registrations conducted since the date this ministerial regulation comes into force until December 31, 2024 is considered to help increase liquidity for entrepreneurs and allow real estate business operations in the form of property funds to continue. can From the conversion of a Property Fund (Type 1) into a Real Estate Investment Trust And also to help real estate fund operators (Division 1) affected by COVID-19 and from the economic slowdown.

Source: Thai News Agency

Bangkok, Aug. 13-The government pushes forward Thai-Japanese cooperation. Export all varieties of Thai pomelo by 2024, ready to raise standards through labeling of important substances that are beneficial to health on functional foods, adding value to Thai agricultural products.

Ms. Ratchada Thanadirek, Deputy Spokesperson for the Prime Minister's Office, revealed that the government has continuously promoted the export of Thai fruits to foreign markets. In discussions with Japanese agencies to push forward the export of all varieties of Thai pomelo. along with the integration of academic cooperation Develop agricultural and food technology innovations raise the standard of agricultural products Through the system of labeling important substances that are beneficial to health on agricultural products (Functional Foods) to add value to Thai agricultural products.

Deputy spokesman for the Prime Minister's Office said Such progress was the result of the meeting. The 13th Joint Special Sub-Committee on Food Safety Cooperation under the JTEPA framework in early August 2023 by the National Bureau of Agricultural Commodity and Food Standards (NIAC). ) Ministry of Agriculture and Cooperatives and related agencies of Thailand Discussed with relevant agencies of Japan, namely the Ministry of Agriculture, Forestry and Fisheries, the Ministry of Health, Labor and Welfare, the Office of Consumer Affairs. and the Ministry of Foreign Affairs The Thai side will open the export market for the Khao Nam Phueng pomelo. and Tubtim Siam grapefruit While the Japanese side has prepared to allow the import of all varieties of Thai pomelo. Previously allowed to import only the Golden Dee pomelo from Thailand in 2012, with the cancellation of measures to limit species in the import of Thai pomelo. And will expedite the conditions for exporting all varieties of Thai pomelo to Japan by steam drying. It is expected to be completed by 2024.

In addition, the Japanese side is confident in the production supervision and export management system of the Thai Ministry of Agriculture and Cooperatives. The ACT will cooperate with the National Agriculture and Food Research Organization of Japan. Food Research Organization: NARO), Japan's main agricultural research agency. To support the development of a standard system for the labeling of active ingredients that have health benefits on agricultural products. for fresh agricultural products and primary processed agricultural products of Thailand Along with the exchange of research and development of agricultural and food technology innovations Create a network of cooperation with both the government sector and production operators. Thailand will also study a model from Japan to expand export opportunities for local agricultural products as well.

Currently, Thai pomelo is able to expand its export market continually. Most recently, in July 2023, Thailand exported the first shipment of pomelo. Distributed to Washington, D.C., USA as 4 varieties of irradiated pomelo, namely Thong Dee variety, Khao Yai variety Honey White and white cucumber varieties While the Japanese market can increase more export channels. This is because Japanese consumers have high purchasing power and a large population of health care workers and senior citizens. by displaying the Functional Foods label that shows the nutritional value Helps boost the body's immunity Reduce the risk of disease. will add value to Thai agricultural products and create more confidence in the safety and quality of target consumers.

“These progresses reflect the government's commitment to promoting potential Thai fruits to international markets. especially to increase the efficiency of fruit management Control the production quality in line with the needs of today's consumers. as well as developing export capabilities by using innovation, technology and through cooperation with relevant foreign agencies To provide opportunities for Thai farmers and entrepreneurs to have more trade channels. Strengthen the country's economy to grow steadily,” Ms. Ratchada said.-Thai News Agency

Source: Thai News Agency