Thailand's tourism is affected by new coronavirus originated from China (Source: bangkokpost.com)
Bangkok (VNA) – The Fiscal Policy Office (FPO) of Thailand’s FinanceMinistry cut its 2020 economic growth forecast to2.8 percent from 3.3 percent projected earlier.
The ministry slashed its estimate for 2020export, a key growth driver, to a rise of just 1 percent from an earlier 2.6percent increase, Lavaron Sangsnit, head of the FPO said on January 29.
Despite the downgrades, the economy is still growing, he said, addingthat the major drivers will be private investment and large public investmentprojects.
TheThai Government on January 29 approved incentives to spur private investment of110 billion THB (about 3.56 billion USD) and add 0.25 percent to economicgrowth in 2020.
Themeasures include a corporate income tax deduction of 2.5 times expenditure onmachinery, a one-year tax exemption for importing new machinery, andspecial-rate loans offered by the Export-Import Bank of Thailand for exportersto alter their machinery for export.
The tax measures apply to new machinerypurchased from Jan 1 to Dec 31, 2020. The 2.5-time tax deduction is notapplicable to leased machinery.
The measures are estimated to cost thegovernment 8.6 billion THB in forgone tax revenue, said Narumon Pinyosinwat, agovernment spokeswoman.
According to Narumon, the cabinet has approveda 350-million-THB budget to compensate Exim Thailand for the special interestrates.
The Thai Finance Ministry said the freshmeasures are essential to stimulate private investment and the local economythis year because of the uncertain global economy and the US-China trade war'simpact on the export sector.
Tourism,another key driver, is being affected by China's ban on allgroup tours because of a new coronavirus originated from Wuhan, China (2019-nCoV).
The TourismAuthority of Thailand expects the number of Chinese tourists, Thailand'sbiggest source of visitors, to fall by two millions this year from lastyear's nearly 11 million./.
The Bangkok Metropolitan Administration (BMA) on January 21 announced four urgent measures to deal with the hazardous ultra-fine dust levels in the air in the capital.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
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Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Thailand's tourism is affected by new coronavirus originated from China (Source: bangkokpost.com) 
