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Foreign investors reassured on Thailand’s stability

ACM Prajin Juntong, Air Force chief and deputy chief of the National Council for Peace and Order (NCPO) on Friday, August 15, led 25 investors from 20 capital funds and the Federation of Thai Capital Market Organizations (FETCO) to pay a courtesy call on Gen Prayuth Chan-ocha, Chief of NCPO at the Royal Thai Army Headquarters.
ACM Prajin serves as the NCPO’s Chief of Economic Affairs.
The investors, who were scheduled to attend an event billed “Thailand’s Resilience: A Roadmap to a Sustainable Recovery” organized by FETCO, are representatives of leading financial institutions throughout the world that have had long-term investments in Thailand, with a total value of over US$16 trillion.
The NCPO chief stated that foreign investors are a crucial group for the Thai economy both presently and in the future, particularly FETCO, who has constantly been acting as a coordinator between the Thai government and the private sector, and has been contributing to the development of Thailand’s capital market.
The NCPO chief commented on the current situation of Thailand that stability, security, and safety have been largely restored in politics, economy, and people’s livelihood, with a positive environment that will definitely encourage business growth. He also called for understanding from foreign investors on the complexity of the Thai situation, which needs time to resolve.
Nevertheless, the NCPO reaffirmed its continuing support of strong trade and investment relations with foreign investors.
On administration of state affairs, Gen Prayuth said the NCPO has laid out a 3-stage road map. Currently, it is at the 2nd stage.
The reason NCPO took control of state administration was to simply ensure national order and to create a new hope.
According to the NCPO chief, NCPO fully realized and understood the global community’s concerns.
However, he called for more time and insisted that all operations and implementations would be done with fairness and in accordance with the legal process.
The representatives of foreign investors expressed understanding towards the current situation in Thailand, which has now been developing in a positive direction.
They also affirmed confidence that they will continue expansion of their investments in the country. (MCOT)


Government agencies urged to expedite budget disbursement

Arkhom Termpittayapaisith, secretary-general of the National Economic and Social Development Board.

The National Council for Peace and Order (NCPO) has ordered Thai government agencies to quickly disburse budgets to stimulate the national economy for the second half of this year.
Arkhom Termpittayapaisith, secretary-general of the National Economic and Social Development Board, said the National Council for Peace and Order (NCPO) called for quick disbursement so that the national economy would grow by 4 percent in the second half of this year and by 2 percent throughout 2014.
He said that amid fluctuations in the global economy, Thailand needed to stimulate its economy with its 2.5 trillion baht budget for the 2015 fiscal year. Besides, it will try to boost its exports to help support its economic growth.
The NCPO also ordered government agencies to guarantee the safety and fair treatment of tourists because tourism is an important source of national income. The council is also working out measures to encourage Thai tourists to travel locally instead of actively visiting other countries.
Arkhom also said that concerned authorities would ensure that the investors who received promotional privileges from the Board of Investment would implement their investment projects to help stimulate the Thai economy. (MCOT)


Marriott, Centara hotels ramp up Fin Free support

Cindy Sirinya Burbridge Bishop, Fin Free Thailand ambassador, and Rattanachai Sutidechanai, chairman of the Pattaya council’s Tourism and Cultural division, present a Fin Free award to Terapan Chuaprasert, Executive Assistant Manager of Pattaya Marriott Resort & Spa.

Two Pattaya hotel chains earned accolades for their efforts to end the consumption of shark fins by supporting the international Fin Free campaign.
Terapan Chuaprasert, Pattaya Marriott Resort & Spa’s executive assistant manger, received recognition from Fin Free Thailand ambassador Cindy Sirinya Burbridge Bishop and Pattaya City Councilman Rattanachai Sutidechanai.
The plaque recognizes the Marriott’s Spirit to Preserve project supporting initiatives highlighting positive commitments of hotels and restaurants to protect endangered marine life for more than 10 years.
Specifically, the project commits to not stock or serve shark fins, the consumption of which can pose risks to human health and impacts the marine environment.

Cindy Sirinya Burbridge Bishop, Fin Free Thailand ambassador, and Rattanachai Sutidechanai, chairman of the Pattaya council’s Tourism and Cultural division, present Fin Free awards to representatives of Centara Hotels & Resorts.

Meanwhile, the Centara hotels group enlisted its five Pattaya resorts into the Fin Free program.
David Good, Vice President - Operations for Centara Hotels & Resorts signed the organization’s “Blue List” business pledge on behalf of the Centara Grand Mirage Beach Resort, Centara Grand Phratamnak, Centara Grand Modus, Centara Pattaya and Nova Hotel and Spa.
“We collectively support the aims of this campaign to raise awareness on the serious environmental impact of shark fin harvesting,” Good said. “This initiative sends a strong statement for sustainable business practices and for preserving our marine ecosystem. If companies and hotels like ours lead the way with more ethical and sustainable actions such as this, then we hope consumers will be better educated and will eventually stop patronizing products that can endanger the environment.”


Temporary closure of Bangkok Airways’ domestic lounge at Suvarnabhumi Airport for renovation

Bangkok Airways announced that its domestic lounge at Suvarnabhumi airport will be temporarily closed for renovation. The Boutique lounge is closed from now until 14 September 2014. The Blue Ribbon Club will then be closed from 16 September 2014 until 31 October 2014.
Tresarun Sitakalin, Bangkok Airways’ Ground Service Director said, “Bangkok Airways has planned to close both domestic lounges at Suvarnabhumi airport for renovation to improve our facilities to maximize the on-ground travel experience of our passengers. The closure will begin with Boutique lounge and last until 14 September 2014. However, passengers can enjoy complimentary snacks and beverages at a temporary kiosk located at Gate A7. Afterwards, Blue Ribbon Club will be closed for renovation from 16 September 2014 until 31 October 2014. During this closure, business class passengers and flyer bonus premiere members are welcomed to use the boutique lounge.”


Thailand’s July consumer confidence index records 15 month high

The Ministry of Commerce said last week that the consumer confidence index recorded a new 15-month high in July as people expect the National Council for Peace and Order (NCPO) will improve the country’s economy.
Ampawan Pichalai, director of the Commerce Ministry Trade Policy and Strategy Office, said a survey of 3,343 consumers nationwide showed that the confidence index in July was at 41.4, rising from 38.4 in June.
The forecast for the consumers’ confidence index in the next three months was put at 45.4. The index remains below 50 and shows that people still have economic concerns.
Although the overall national situation has improved, most people worry about the cost of living.
Meanwhile, spending on consumer products has dropped; people are more careful about their spending; and household debt is likely to grow.
Farmers’ incomes have decreased due to rising rice cultivation costs. Rice prices are low, and the prices of rubber and palm oil also are in decline.
If the situation continues, household debt will steadily grow.
The uncertainty surrounding the global economic recovery also affects the economy and Thai exports.
Economists predict consumer income will increase in the next three months, due to the national administration by the NCPO and economic stimulation measures. (MCOT)


Apple meets NBTC on ‘iPhone 6’ approval disclosure

National Broadcasting and Telecommunications Commission (NBTC) Secretary-General Takorn Tantasith said that the top executive of Apple South Asia in Singapore met him last week and discussed the information publicized.

National Broadcasting and Telecommunications Commission (NBTC) Secretary-General Takorn Tantasith.

Takorn had tweeted on Monday that the NBTC had given approval, which would allow the ‘iPhone 6’ to be sold in this country.
Takorn explained that the NBTC announced the result of standard certification of the product to protect consumers by informing the general public that the product could be imported and used legally in Thailand.
The NBTC did the same with all series of mobile phones, Takorn said.
“The NBTC inspects the qualifications of mobile phones in compliance with international standard to make sure that they are standard and safe for consumers. In the past many series of mobile phones were imported for sale without examination and that might be dangerous. Some series were launched overseas but were not sent to the NBTC for standard verification and that makes the import of the product series illegal,” Takorn said.
Apple understood and accepted the work of the NBTC, he said. Takorn apologized to the company for referring to iPhone6 as Apple did not officially confirm that the two approved models would be named iPhone 6.
Apple sent its new products to the NBTC for examination on Aug 5. The examination finished on Aug 7, and the NBTC secretary-general revealed the examination result on Tuesday and drew international attention from people waiting for the new model of phone from Apple. (MCOT)


HEADLINES [click on headline to view story]

Foreign investors reassured on Thailand’s stability

Government agencies urged to expedite budget disbursement

Marriott, Centara hotels ramp up Fin Free support

Temporary closure of Bangkok Airways’ domestic lounge at Suvarnabhumi Airport for renovation

Thailand’s July consumer confidence index records 15 month high

Apple meets NBTC on ‘iPhone 6’ approval disclosure

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