Thailand allows 30-day extension of stay for visitors from 48 countries

In another positive move to boost the Thai travel and tourism industry, the Immigration Bureau has allowed citizens of 48 countries and Hong Kong SAR to get a 30-day extension of their stay in Thailand after the expiry of their normal period of stay.
The move is effective as of 29 August, 2014. It will apply to visitors holding travel documents of Australia, Austria, Bahrain, Belgium, Brazil, Brunei Darussalam, Canada, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong SAR, Hungary, Iceland, Indonesia, Ireland, Israel, Italy, Japan, South Korea, Kuwait, Luxembourg, Liechtenstein, Malaysia, Monaco, the Netherlands, New Zealand, Norway, Oman, Peru, Philippines, Portugal, Poland, Qatar, Singapore, Slovak, Slovenia, Spain, South Africa, Sweden, Switzerland, Turkey, United Arab Emirates, the United Kingdom, the United States of America, and Vietnam.
Citizens of these countries and territory who normally get Visa Exemption as tourist for 30-day stay permit, will get extension of stay for one time no longer than 30 days from the expired date. The application process will cost 1,900 baht per person. No further extensions will be allowed. If the application is denied, visitors will have to leave the kingdom within seven days after the expiry of the normal period.
Tourism Authority of Thailand Governor Thawatchai Arunyik said, “Allowing visitors to stay on beyond their normal period will be a boost for the increasing number of global travelers who have already covered much of the world and now want to focus on specific destinations. It will also be boost for those coming for niche-market activities; such as, voluntourism, health and wellness, or sports.”

TMB Analytics say lowering fuel prices boost purchasing

TMB Bank’s research unit, TMB Analytics has projected that last Friday’s cut in fuel prices in Thailand would stimulate people’s purchasing power, lower transportation costs in the business sector and generate more income for the state.
The National Council for Peace and Order on Friday, Aug. 29, moved to cut oil prices between Bt1-3.89 a liter but increased diesel price by 14 satang per liter, which was still lower that Bt30 a liter in a bid to assist the transport sector.
TMB Analytics has projected that the cut would affect household and business sectors and the state.
It said consumers would be able to save money from oil consumption by about Bt32 million per day, or Bt11.85 billion per year, which helps increase people’s purchasing power by Bt176 per person per year.
In the business sector, TMB Analytics said the cut would help lower energy costs by an average 0.14 percent or equivalent to Bt820 million annually.
A majority of business enterprises consume diesel more than gasoline, so Friday’s cut would benefit small-scale transportation services, for example, car rental and delivery services.
It said the state would receive more taxes collected on diesel following the cut and while consumption of diesel is much more in Thailand, it is projected that the state would receive about Bt6.8 billion more in revenue annually.
TMB Analytics suggested that if the state could help restructure prices of energy used in the industrial sector (the largest consumer) and for the sector to consume energy efficiently, it could help lower costs and at the same time strengthen the sector. (MCOT)

Thailand approves 13 SME projects

In an effort to increase gross domestic product (GDP) of small- and medium-sized enterprises (SMEs) to 38 percent and the number of corporations by another 50,000, the SME board has approved urgent promotion of SME businesses in 2015, said Wimonkan Kosumas, deputy director-general of the Office of Small and Medium Enterprises Promotion (OSMEP).
The action was given during a meeting, chaired by leader of the National Council for Peace and Order and army chief Gen Prayuth Chan-ocha, on Friday, Aug. 29.
Ms Wimonkan said the SME board gave the green light to 13 projects involving four strategies which could start immediately.
The first strategy calls for the state to promote SMEs so that they could operate efficiently while the second requires SME business development which includes establishing an SME online business centre.
The third strategy calls for creating added value for SME goods and services and the last strategy calls for building networks between state and private operators, inside and outside the country, especially among ASEAN members.
The SME board also approved categorizing SME businesses to receive backing in 2015-2016, Wimonkan said.
Businesses to receive assistance would be those which could create major revenues for the country, using local raw materials and having an opportunity to sustain growth in the future. (MCOT)

Blacklisted firms should be banned from co-investing with state

Bankrupt persons and those who have been imprisoned should not be allowed to co-invest with the state in mega-projects, said Yajai Pattanasukwasun, Director of the Bureau of Legal Affairs, State Enterprise Policy Office, Ministry of Finance.
In order to make co-investment transparent between both sides, Ms Yajai said the Office has issued a regulation stipulating that those who are bankrupt and those who have been imprisoned on serious offences should not be allowed to co-invest with the state in mega-projects.
Firms that are hired to act as consultants must have undertaken an advisory role in at least three projects which must also be already implemented.
The consultant firm must also not have any link with private companies which have proposed joint investments with the state, and they must not be politicians or civil servants, she said.
It is believed that most projects carry less than one billion baht in investment each and are undertaken at the provincial level while approval could be given by provincial officers.
Meanwhile, Seree Nonthasoot, deputy managing director of the State Enterprise Policy Office, suggested that although the law allowing private citizens and firms to co-invest with the state was enacted in 2013, sufficient preparations have not been made and the state ought to prepare special procedures, including a scrutiny committee which has a duty to screen issues before forwarding them to the cabinet for consideration.
There are several mega-projects and it is necessary to have such a committee, said Seree.
The state has set aside revolving capital amounting Bt500 million for used as fee in hiring advisory firms for projects requiring more than one billion baht investment.
As a result, several new advisory firms have been established lately. (MCOT)