Indonesia News Gazette

Bangkok, Ministry of Finance It is expected that the Thai economy in 2024 will expand at 2.4 percent per year, accelerating from 2023 which expanded at 1.9 percent per year, mainly supported by the tourism sector that continues to expand. and the supporting role of fiscal policy for the remainder of the year.

Mr. Pornchai Teerawet, Director of the Fiscal Policy Office As a spokesperson for the Ministry of Finance Announcing the results of the projection of the Thai economy in 2024 that the Thai economy in 2024 is expected to expand at 2.4 percent (forecast range of 1.9 to 2.9 percent), expanding from 2023 which expanded at 1.9 percent” with strong support Support from the tourism sector that continues to expand is important. including the supporting role of fiscal policy during the rest of the year. It is expected that the tourism sector in 2024 will have 35.7 million foreign tourists traveling to Thailand, expanding at a high rate of 26.7 percent per year, having a positive effect on Tourism sector and rel
ated service businesses Create employment and increase people’s income. It has a positive effect on the confidence of the business sector. As a result, it is expected that private investment will expand at 3.7 percent per year (forecast range of 3.2 to 4.2 percent), while private consumption will continue to expand at 3.5 percent per year (forecast range of 3.2 to 4.2 percent). 3.0 to 4.0 percent) for merchandise exports will expand at 2.3 percent per year (forecast range of 1.8 to 2.8 percent). It is expected that merchandise exports will be able to recover in the second half of the year. and the value of merchandise imports will expand at 3.4 percent per year (forecast range of 2.9 to 3.9 percent), with capital goods expanding further. It reflects private investment that will increase in the future.

This economic expansion forecast has been lowered compared to the Ministry of Finance’s previous forecast as of January 2024 at 2.8 percent due to 1) merchandise exports shrinking more than expected, especially
industrial products. In the first quarter of 2024 2) Industrial production continued to contract as reflected in the Industrial Production Index. (Manufacturing Production Index: MPI), especially products in the automotive category and the parts and circuit board category

in the first quarter of 2024; 3) the agricultural sector is affected by drought and the El Niño phenomenon; and 4) the fiscal sector. that will continue to use budget disbursements for the year 2023 for the time being

In terms of stability within the country, it is at a stable level, with general inflation expected to be at 0.6 percent per year (expected range of 0.1 to 1.1 percent) following a decrease in prices of some food products. In addition, prices of products in the energy category decreased due to government measures to help with living expenses. while stability outside the country The service balance is likely to be in surplus following the increase in the number of foreign tourists. As a result, the current account balance in 20
24 is likely to return to a surplus of US$9.3 billion. or equivalent to 1.8 percent of GDP

A Ministry of Finance spokesman said that from now on, money from the 2024 budget will begin entering the Thai economy. This will help drive economic activity. As a result, the Thai economy will expand and accelerate during the remainder of 2024 for the long term. Developing the Thai economy to grow sustainably The Ministry of Finance has a clear vision regarding 1) Fiscal Sustainability, committed to prudent fiscal management.

Taking into account responsible government spending and public debt levels, and 2) raising the potential of the Thai economy (Potential GDP), focusing on national development at the regional and village levels. It builds on the vision in 8 areas under the government’s Ignite Thailand policy framework by promoting Thailand as a center for innovation and high-value industry. By attracting foreign direct investment in manufacturing and technology. as well as promoting skilled workers through educa
tional reform and vocational training. This will further increase the country’s production ability. Supporting these important issues will result in sustainable and stable growth of the Thai economy. Stepping into becoming a leader in the regional arena in the future. In addition, if the money from the 10,000 baht top-up project via Digital Wallet can start being spent within the 4th quarter of 2024, it will help increase purchasing power and support the Thai economy in 2024. Expanded at 3.3 percent per year (in the case that people spend most of their money by the end of 2024)

However, it is still worth following closely the factors that will affect the Thai economy, such as 1) global geopolitical conflicts in various regions that are becoming more severe; This may be a constraint and affect the growth of the Thai economy in the next period, such as the tension situation between Israel and Iran that may affect the price of energy to increase. Strategic competition between China and the United States. 2) Flu
ctuations in the global financial market from strict monetary policies of main trading partners and problems with financial institutions abroad. especially the United States and the European Union, and 3) the recovery of the economic conditions of Thailand’s important trading partners. Especially China from problems in the real estate sector.

Source: Thai News Agency

Nonthaburi, Deputy Minister of Commerce asks “Bhoomtham” to continue working on SMEs so that the planned plans can move forward. Meanwhile, the private sector is still waiting for hope that the government sector will help Thai SME businesses to become even stronger.

Mr. Naphinthorn Srisanpang, Deputy Minister of Commerce Revealed after the Cabinet reshuffle Settha 1/1, the Ministry of Commerce has added another Deputy Minister of Commerce. Initially, there was a discussion with Mr. Phumtham Wechayachai, Deputy Prime Minister and Minister of Commerce, and Mr. Suchat Chom. Klin, future deputy minister of commerce, on the division of labor Which he said that he would like to see work that he is good at, which is pushing SMEs. that has been done all along Since coming to the Ministry of Commerce and believe that no matter who comes, they can work together well

In this regard, in terms of helping and pushing SMEs The big project will be launched in June. It is an arrangement to match business owners, location o
wners, and people who want to invest or change careers. Currently, more than 20,000 locations have been prepared for those interested in investing in doing business. The Ministry has prepared franchise owners or those wanting to expand their franchise to negotiate with each other, as well as coordinating with the Ministry of Labor. Request support from the Social Security Fund of 2-3 billion baht for banks to manage in granting loans. At a low rate of not more than 7% per year. As for the impact that SMEs want the government to help, Presenting Mr. Phumtham Consider and proceed further. Which cannot be detailed yet because it involves many agencies. One is to address the impact of e-commerce.

Mr. Chaichan Charoensuk, Chairman of the Shippers’ Council of Thailand (SRT), said that Cabinet adjustments in the government policy section It must be closely followed by the NRCT wanting to focus on helping and promoting SME entrepreneurs. In particular, exporting SMEs face the problem of poor domestic purchasing powe
r and must face many factors regarding high costs and liquidity. Even though the Thai Bankers Association announced an interest rate reduction of 0.25%, access to capital is still low. And the real interest rate is still high.

‘Right now, the small people are very sympathetic. And there have been serious problems accumulating all along. Poor product sales, lack of liquidity. The concern that the new Cabinet wants to continue is fixing the energy structure. Accelerate the government budget Enhance SME liquidity and find new markets Which we are already doing in the private sector. Personally, who sits in the Ministry of Economic Affairs? It is believed that it is still under the same government policy. I believe that the private sector Not worried about political stability and confidence in foreign eyes Thailand is still moving forward well. Both travel You can still export. What I want to fix is ??the same thing. Both energy and access to small-scale financial resources that has been proposed all along,’ Mr.
Chaichan said.

Source: Thai News Agency

Bangkok, SET closed today at 1,361.97 points, an increase of 2.03 points (+0.15%), trading value 36,381.38 million baht.

Stock trading today The index moves in alternating positive and negative movements. The index reached its highest point at 1,364.70 points and made its lowest point at 1,355.36 points. As for securities, changes today increased by 297 securities, decreased by 186 securities, and remained unchanged for 172 securities.

Source: Thai News Agency

Bangkok, NPC Safety and Environmental Services Company Limited or NPC is a company in the group of PTT Global Chemical Public Company Limited or GC sending drones equipped with heat detection cameras. Equipped with a complete set of fire extinguishing equipment and personnel to help extinguish a fire in a chemical waste storage factory. In Rayong Province

NPC is a company with expertise and experience in emergency response and has the most complete emergency response equipment. It has sent 30 personnel who are experts in emergency response and rescue, along with a complete set of equipment and fire extinguishing agents, including a drone equipped with a heat-detecting camera. A set of drone equipment equipped with a thermal image camera, a Fire Fighting Robot, F-500 fire extinguishing agent, fire extinguishing foam, and a water pump and delivery machine. By a team of experts in emergency response and rescue of NPC Company, a joint plan has been made. (Including consulting) with government agencies and adjus
ting plans to suit the work site. The mission that the NPC was assigned was the area of ??various warehouses (in the beginning) and finally to be responsible for warehouse number 3 (with difficult-to-extinguish fuel and dangerous) which in general It can help you assess the situation in advance. Deal with incidents before they cause damage. No wasted expenses It successfully helped reduce the severity and limit the damage to the area. and can reduce the amount of water contaminated with the environment and communities as well.

From the fire inside Winprocess Company, Ban Nong Phawa, Bang But Subdistrict, Ban Khai District, Rayong Province, on 22 April 2024 until 27 April 2024, NPC has sent personnel who are experts in emergency response and Rescue with a complete set of equipment and fire extinguishing agents, including a drone equipped with a heat-sensing camera. This is the main equipment and is extremely useful for this mission. Drone equipment set that are equipped with thermal image cameras, able to fly
in to assess fire spots, hot spots with high accumulated heat and dangerous points It is displayed as an image with shades of color indicating accumulated heat points and can also be viewed as a normal image. To provide information to the incident commander team Used in making decisions and can be used to assess the situation in advance Able to deal with incidents before damage occurs Makes it possible to suppress incidents effectively No wasted expenses and reduce the amount of water contaminated with the environment and communities Also sent Fire Fighting Robot, F-500 fire extinguishing agent is an encapsulator that the NFPA organization has certified to extinguish fires from combustible metals well, amounting to more than 5,100 liters and extinguishing foam, amounting to 2,800 liters, complete with pump and delivery device. Water Trailer Fire Pump 2000 GPM was used to extinguish the fire in the assigned area, which was the area of ??Warehouse 3. It was to extinguish flammable metal (Aluminum Dross) causing
the temperature to drop continuously from the use of F-500 fire extinguishing agent to control the fire area. To reduce the severity and successfully limit the damage to the area.

Source: Thai News Agency

Samut Sakhon, ‘Pimpattra’ leads the team to inspect readiness to transport cadmium waste back to the landfill in Tak Province, first trip, 254 tons.

Ms. Pimpatra Wichaikul, Minister of Industry Visited the area along with Mr. Nattaphon Rangsitphon, Permanent Secretary of the Ministry of Industry. As chairman of the working group to solve the problem and transport cadmium sludge, Mr. Decha Chatutthananan, Inspector General of the Ministry of Industry As the chairman of the cadmium and zinc waste transport committee, the group inspected readiness to prepare for the transport of cadmium waste from J and B Metal Company Limited, Soi Kong Phan Phon, Ekachai Road, Village No. 2, Bang Chuet Subdistrict. Mueang Samut Sakhon District Samut Sakhon Province Going to the landfill source in Tak Province With Mr. Chaiwat Tuntakit, Deputy Governor of Samut Sakhon Province, Mr. Putthikorn Wichaidit, Samut Sakhon Province Industry. and representatives from Disaster Prevention and Mitigation, Samut Sakhon Province Pollution
Control Department Samut Sakhon Provincial Natural Resources and Environment Office Officers of the Natural Resources and Environmental Crime Suppression Division (National Resources and Environmental Crime Suppression Division), Department of Disease Control, Provincial Public Health, Provincial Transport, Department of Provincial Administration, Samut Sakhon Provincial MP. as well as related agencies to participate

The process has started since morning. Officials showed an example of how to transport cadmium waste. Start by using a forklift. Lift the bag of cadmium waste. and overlaid with another layer of big bags, tied, weighed, and then loaded onto a truck. On the first day, 4 trucks will be used, each truck carrying 20 bags, a total of 80 bags, with a total net weight of 112.61 tons. After that, when loaded onto the trucks, they will be covered with canvas for another step. for safety Before leaving Samut Sakhon Province Around 9:00 p.m., led by a highway police vehicle. and ending with a police vehicl
e from the Natural Resources and Environmental Crime Suppression Division to join the factory procession at Bang Sue. Bangkok using 6 trucks, able to carry 99 bags, with a total net weight of 141.39 tons, which when combined from both places, the total weight is 254 tons (weight missing from the estimate of 270 tons due to detailed weighing) by both trains It will be arranged to join the same train at Do Home, Nonthaburi Province, to continue traveling to Tak Province at approximately 10:00 p.m. It is expected that the journey will take a total of 7 hours and will arrive in Tak Province. In the early morning hours of April 30, 2024

Ms. Pimpatra said that initially the cadmium sludge will be transported. From Samut Sakhon Province and Bangkok Go to Tak Province first. As for Chonburi Province Still waiting for the legal process. Because it is under investigation The transport will use the Asian route. There will be highway police from each area leading the procession. and is forwarded to each province Take br
eaks as needed. There is no stopping to refuel. And there is already an emergency plan in place in case of an accident. When arriving in Tak Province The cadmium sludge will be to be stored in the waiting building in the factory area where the floor has been paved with HDPE sheets and synthetic clay (GCL) while the cadmium waste storage pond is being hastened to be improved to make it safe and secure according to EIA measures, with officials from the Tak Industrial Office and Samut Sakhon Province and related agencies closely supervise the transportation of cadmium sludge throughout the operation.

‘We ask the public to be confident that the Ministry of Industry The most advanced preparations have been made for transporting cadmium mineral sludge from its origin in Samut Sakhon Province. and Bangkok Inter-transportation Until the destination in Tak Province Taking into account the safety of the people is important. As for the amount of weight From what has been detected so far, there are still some lacking. B
ut it’s not much if you calculate the moisture loss, so you have to wait for the entire move to be completed first. Therefore it can be concluded that all the cadmium sludge has been found or not. However, at this time the officials have not stopped searching and are still searching in the area. It is expected to spread even though the search is nearly complete. Every step must be completed quickly to keep up with the rain that may fall at any time,’ said the Minister of Industry.

As for the matter of the lawsuit Ms. Pimpatra said that a committee is currently being set up to investigate the facts to find those involved in causing this problem. and the issue of investigation was set up In order to identify the person who must be called to investigate the matter in question. Both those involved from origin to destination.

Source: Thai News Agency

Bangkok, Krung Thai Bank Respond to government measures Accelerate relief for vulnerable groups affected by an economy that has not fully recovered. Issue additional measures By reducing the MRR, MLR, and MOR loan interest rates by 0.25% for 6 months, effective from 16 May – 15 Nov. 2024, for more than 300,000 vulnerable customers, with a total credit limit of more than 200 billion. baht to have a chance to adapt and recover

Mr. Phayong Sriwanich, President Krung Thai Bank revealed that Krung Thai Bank is ready to support the government policy in helping vulnerable groups. Following the guidelines of the Thai Bankers Association to reduce interest burden for vulnerable customers. both individual customers and small SME entrepreneurs, and solutions such as sustainable debt and responsible and fair lending (Responsible Lending) of the Bank of Thailand. The bank therefore has additional assistance measures. By announcing a reduction in MRR, MLR, and MOR loan interest rates by 0.25% per year for 6 months, effec
tive from 16 May – 15 November 2024, for 3 groups of vulnerable customers: 1. Small personal loan customers who are still in Bank assistance measures Both home loans and personal loans 2. Home loan customers with a credit line not exceeding 2 million baht and 3. Customers who are small SME entrepreneurs with a monthly business income not exceeding 2 million baht and a credit line not exceeding 10 million baht.

From such measures The bank has been able to help reduce the financial burden on more than 300,000 customers, with a total credit limit of more than 200 billion baht. The bank will automatically reduce loan interest rates for all 3 groups of vulnerable customers who have credit balances with the bank as of now. March 31, 2024 without customers having to register. or contact the bank in any way

‘The bank sees the suffering of all vulnerable customer groups. Therefore, additional assistance measures have been released this time. from before The bank has issued other measures such as the “Sustainable Civ
il Service Debt Consolidation Loan” measure. This new measure Covers customer groups that are still unable to recover from the economic situation. To have a chance to recover and adapt, which is in the same direction as driving the government economy. that has both short-term measures to support the transition and economic restructuring measures in the medium and long term. To raise the level of competitiveness and create sufficient and sustainable income’-Mr. Phayong said .

Source: Thai News Agency

Hanoi: Vietnam’s agro-forestry-fishery exports to the Republic of Korea (RoK) have surged thanks to the bilateral Free Trade Agreement (VKFTA), topping 2 billion USD annually during 2016 – 2023, and the Northeast Asian country is forecast to remain an attractive market in the coming time.

The RoK is currently the fourth largest market of Vietnamese agro-forestry-fisheries products.

Since the VKFTA took effect in late December 2015, aquatic exports to this market have grown considerably, by 35% to 787 million USD in 2023 from 585 million USD in 2015, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Phung Thi Kim Thu, a shrimp market expert at VASEP, said the RoK is the largest importer of squid and octopus from Vietnam, accounting for 37% of total shipments. Meanwhile, Vietnam ranks second among suppliers of these products for this market, following China.

Vietnam’s squid and octopus exports to the RoK are forecast to rise in the first quarter of 2024, she said, noting that
shrimp is also a key aquatic export to the market.

The RoK will remain a popular choice of many businesses given its close proximity to Vietnam and stable demand, especially as inflation in such major markets as the US and Europe slowed consumption. Sea freight costs to the US and Europe have soared, thus closer markets like the RoK prove more attractive for exporters, Thu went on.

The Foreign Trade Agency under the Ministry of Industry and Trade reported that in 2023, the RoK’s coffee import from Vietnam increased 17.9% in volume to 41,450 tonnes and 16.3% in value to 93.35 million USD compared to the previous year. The proportion of Vietnamese coffee in the RoK’s total imports rose to 21.52% in 2023 from 17.15% in 2022.

The Korean coffee market’s revenue is predicted to hit 2.2 billion USD this year, the agency said, considering this a chance for coffee producers around the world, including Vietnam, boost shipments to the RoK.

Meanwhile, the RoK was the third largest importer of Vietnamese rubber with 8
,200 tonnes worth 12.77 million USD in the first two months of 2024, up 61.7% in volume and 60.3% in value year on year, statistics show.

Last year, this market also ranked third among importers of Vietnamese fruits and vegetables with 226 million USD in value, rising 25% from 2022.

The Institute of Policy and Strategy for Agriculture and Rural Development (IPSARD) cited a report released in mid-February by the Korea Rural Economic Institute as saying that the RoK’s frozen fruit import volume stood at 64,000 tonnes in 2023, up 6% from 2022. The import is expected to increase further this year as the RoK reduces or exempts tariffs on foreign fruits to stabilise domestic prices.

However, imports into the RoK are also facing increasingly strict requirements in terms of quality, food safety, sanitary and phytosanitary measures. This is also a big reason why Vietnam’s agro-forestry-fisheries products have accounted for just 4% of the RoK’s total imports of these commodities in 2023.

Facing that fact, the Korea
International Cooperation Agency (KOICA) has pledged to assist Vietnam with agricultural development through many projects like improving value chains, enhancing connectivity, and bettering climate change response capacity to produce high-quality farm produce and meet demand from the RoK./.

Source: Vietnam News Agency

Lao Cai: More than 150 representatives from domestic tourism businesses and firms from China’s Yunnan province and Laos’ Vientiane city have shared experience and proposed measures to boost cooperation at a conference held in Sa Pa resort town, the northern province of Lao Cai.

The April 27 tourism promotion conference aimed to connect businesses and discuss measures to develop tours and tourism routes that link Lao Cai provinve in general, Sa Pa in particular, with localities in the southwestern region of China and other tourist cities in Southeast Asian countries.

At the conference, delegations from Vientiane city, Yunnan province’s Private Enterprise Association, Kunming city, Pingbian district, Hekou district and the Lao Cai Provincial Tourism Association shared experiences, discussed difficulties, obstacles, and policies to develop tourism. They also established cooperative relationships, and proposed solutions to promote tourism development in the localities.

They agreed that in the coming time, loca
lities should pay due attention to supporting tourism businesses with mechanisms and policies so that tourism promotion will be more substantive and effective for a common and prosperous community.

In 2023, nearly 300,000 Chinese tourists entered Lao Cai via Lao Cai International Border Gate, accounting for 54% of the total number of international visitors to the province.

The number of Vietnamese tourists to Laos in 2023 rose 33%, making Vietnam the second largest foreign tourist source of Laos.

In the first quarter of 2024, about 800,000 Vietnamese tourists travelled to China via Lao Cai border gate and about 120,000 Chinese people entered Vietnam via the gate./.

Source: Vietnam News Agency