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Agreement on development of emerald triangle
The government is preparing to sign an agreement on the
joint development of border areas linking Thailand with Laos and Cambodia,
which is known as the Emerald Triangle. Government spokesman Yongyudh
explained that part of the Emerald Triangle in Thailand is in the
northeastern province of Ubon Ratchathani; part of this area is situated
in the Bhu Jong Na Yoy National Park.
Part of the area to be developed will include a tourism
site with a golf course and a riverside plan is on the drawing board.
During the preparation process, minister to the Prime Minister’s Office
Somsak Thepsuthin and deputy director-general of the Royal Forest
Department Suvat Singhapant will visit the area to survey and study its
geographical aspects.
“A development framework of the area, which the
government will work out soon, will be based on information gathered from
the survey and study tour,” Yongyudh said. Authorities concerned will
take ecological and environmental impacts on the area and all adjacent
sectors into consideration. “The project is good, but a sensitive one,
which may affect international relations; so, we have to do the best
during the preparation process”, he said. (TNA)
A new Office of Thai Trade Representatives to be set up
The government will soon set up the Office of Thai
Trade Representatives to support the work of Thailand’s trade
representatives, according to Government Spokesman Yongyudh Tiyapairat.
The cabinet has approved
a new regulation of the Prime Minister’s Office on the establishment of
the Office of Thai Trade Representatives.
Part of the new regulation includes the acknowledgement
of the presence of Thailand’s trade representatives who are appointed by
Prime Minister. Theses special trade representatives will be responsible
for dealing with the Thai government’s international trade negotiations.
The country’s trade representatives will have the same status as
Ministers.
Thai Trade Representatives in the Office of the
Secretariat of Prime Minister will also be officially acknowledged. The
newly- established office would support operations of Thailand’s trade
representatives, and appoint a Prime Minister’s advisor who will head
the new office and consult with the Prime Minister on international trade
policies. (TNA)
Thailand to host UNCTAD’s mid-term review meeting in April
Thailand will host the mid-term review meeting to
follow up the charter and action plan made at the 10th United Nations
Conference on Trade and Development held here in 2000, according to deputy
government spokeswoman Nahathai Tiewpai-ngam.
The meeting will take place April 29 - May 3 with Prime
Minister Thaksin Shinawatra scheduled to preside over the conference on
April 30.
The prime minister will also deliver a speech at the
opening ceremony of the International Institute for Trade and Development
jointly setup by the Thai government and UNCTAD. The institute will
conduct research and training on the international economy in this region.
Nahathai said Thailand could use the chance of hosting
the meeting to enhance its international recognition and to push for
reform in the international monetary, fiscal and trade system to protect
its interests in the international arena. The meeting will also give
Thailand an opportunity to play a role in determining the direction and
scope of research by UNCTAD in order to facilitate the country’s
economic recovery. (TNA)
PTTEP expands business to Vietnam
PTT Exploration and Production Plc (PTTEP) recently
announced that its two subsidiaries, PTTEP Hoang Long and PTTEP Hoan Vu
have struck joint-venture agreements with SOCO Vietnam to survey
projects-block 9-2 and 16-1, located offshore Southeast of Vietnam.
Both PTTEP’s subsidiaries expected to invest up to
US$50 million in drilling four exploration wells during 2002-2003if the
joint-venture deals get the approvals from Petro-Vietnam and the
Vietnamese government.
Hoan Vu Joint Operating has conducted the three
dimensions seismic survey covering 650 square kilometers of block 9-2.
PTTEP Hoan Vu will take up a 25 per cent stake, while Petro-Vietnam
Exploration and Production and SOCO Vietnam make up for the rest following
completion of the deal. (TNA)
Thaksin defends extension for oil exploration
Prime Minister Thaksin Shinawatra has defended the
Cabinet’s decision to extend a petroleum-exploration contract for
Harrods Energy (Thailand), which was reportedly missing its concession
deadline.
Thaksin said the one-year extension had to do with
“technical problems”, not the fact that he had close connections with
tycoon Mohammed al-Fayed. “There are technical obstacles. Things like
this happen all the time,” he said. “The Mineral Resources Department
has assured me that there will be no damage to the government, :he said.
It had been suggested that the extension would help Harrods Energy escape
compensation for not finishing its work in the Gulf of Thailand on time.
Thaksin was apparently furious at the notion that his handling of state
concessions was discriminatory. (TNA)
SCNB to heavily expand loan base
Standard Chartered Nakornthon Bank (SCNB) plans to
expand its personal loans and credit cards base collectively by 600,000
accounts. Araya Pupanich, vice president of credit card and personal loans
for SCNB, said the bank will attempt to increase credit cards clients from
200,000 to 300,000 and personal loans from 150,000 to 300,000.
Moreover, SCNB aims to boost spending via credit cards
by 25 percent from about B4,500 per account per month to over B5,000-6,000
per month this year.
Current outstanding loans, including credit cards and
personal loans, is at Bt1.5 billion, and expected to grow to Bt15 billion
this year, or over 50%.
The available credit line for credit cards and personal
loans will be also be increased from B31.5 billion toB45 billion.
Normally, the credit line available is about three times higher than the
outstanding loans. (TNA)
Thailand’s senator Meechai joins solar cell manufacturer’s board
Thai Photovaltaics Ltd. (TPV) recently announced that
Senator Meechai Viravaidya, one of Thailand’s foremost social activists,
has joined the company’s board of advisors.
Appointed the International Ambassador for UNAIDS in
1999, his proactive, solution-oriented approach to the rural poverty
alleviation has earned him both the United Nations Population Award and
the UN Gold Peace Medal. He received the international Ramon Magasaysay
Award for Public Service for mounting effective, creative public campaigns
in Thailand to promote family planning, rural development and AIDS
prevention. His longtime “business” versus “welfare” approach
towards rural development has produced impressive results.
Meechai, an unorthodox and charismatic leader, is the
founder and Chairman of the Population and Community Development
Association, (PDA), Thailand’s largest and most diversified NGO. Under
his leadership, the PDA has consistently practiced innovative approaches
to rural poverty alleviation for nearly three decades. The PDA is operated
from Bangkok, 16 regional development centers, and branch offices
throughout rural Thailand (http://www.pda.org.th/).
This unique organization implements such diverse
activities as family planning, medical and health services, refugee
relief, AIDS care and prevention, water resource development, rural
environmental programs, integrated rural development, local institution
building, income generation, and occupational training. Their popular Thai
Business Initiative in Rural Development (T-BIRD) projects involves
successful corporations in rural development activities.
An economist by training, Meechai ha been a visiting
scholar (Harvard Institute for International Development), Chairman of
several Thai state enterprises, (including the Telephone Organization of
Thailand, Petroleum Authority of Thailand Exploration and Production
Public Co. Ltd., Krung Thai Bank Public Co. Ltd., Tourism Authority of
Thailand, and the National Public Information Committee); Governor of the
Provincial Waterworks Authority, Deputy Minister of Industry, twice
Minister of the Prime Minister’s Office, Cabinet Spokesman, and elected
Senator of the National Assembly.
Considered by many to be a visionary icon for Thailand,
Meechai has been responsible for creating profound attitudinal changes
within Thai society. TPV investors and staff look forward to interacting
with this determined leader. A long-time proponent and early convert to
solar power, he introduced solar-powered electric water pumps to Thailand
twenty years ago and recently added amorphous silicon photovoltaic (PV)
electricity generating modules to the roof of the PDA headquarters office
in Bangkok. Meechai’s extensive experience in rural development will
bolster TPV’s efforts to provide reliable solar electric power to those
who need it most.
TPV is a Thai private limited company that intends to
manufacture relatively simply, low-cost amorphous silicon thin-film PV
solar modules in Thailand (based on proven US and European manufacturing
equipment using local raw materials) to meet existing electricity demands
in the surrounding Asian, Eurasian and Indo-Pacific countries. The company
plans to begin initial commercial production of solar cell modules early
in 2003, with the goal of producing approximately 20 megawatts per year of
electricity, and producing solar modules by the end of 2005. Due to the
expected economies of scale to be achieved with such large scale
production, and substantial long-term tax privileges granted by the BOI in
November of 2001, TPV plans on producing one of the world’s lowest cost,
reliable modules in terms of price per watt.
As an integral part of the company’s business plan,
its investors have agreed that TPV will donate 5.0% of the solar electric
modules it produces to qualified charities to help improve the quality of
life and the environment in developing nations. An additional 5.0% of
TPV’s production will be set aside for qualified NGOs on a “cost
plus” basis to supplement TPV’s charity contributions. Both the
“charity” and “NGO” PV module distribution will be overseen by the
company’s Charity and Activities manager.
License required for bond marketing officials
As part of an ongoing policy of good
governance in Thailand’s banking and finance sector, starting from June
30, all 3,800 marketing officers of banks, finance and securities
companies related to debt instrument trading must have licenses in giving
investment opinion to investors. At present, only 200 staff have such the
licenses issued by the Securities and Exchange Commission (SEC) while
there are 17 banks and 36 finance and securities firms engaged in debt
instrument trading business. (TNA)
Tuk Tuk trademark blocked to U.S. firm
Yangyong Phungrach, from the Department of Intellectual
Property recently announced that the Thai government will seek ways to
revoke the “Tuk Tuk” trademark from a U.S. company. Yanyong said that
the DIP will send a petition to the U.S. Patent and Trademark Office (USPTO)
to ask for the withdrawal of the “Tuk Tuk” trademark from a U.S.
company which wants to use it.
The US company, Tuk Tuk International Co., applied for
the “Tuk Tuk” trademark at the Los Angeles-based USPTO in August 2000,
and received the approval last year, he stated. A spokesman for the US
company said “tuk tuk is a generic name, commonly used, like taxi; so,
it should not be allowed for trademark registration”. The U.S. company,
located in the British Virgin Islands, also sought the trademark to cover
merchandise and food services, but this has not yet been approved by USPTO,
said Yanyong. (TNA)
Unithai Invests (USD) 10 million in Chomphoophukha Shipyard
The Unithai Shipyard and Engineering Company Ltd. held
a ceremony opening the “Chomphoophukha” floating dock on February 16
in Sriracha. The guest of honor was deputy Minister of Communications
Pracga Maleenont and participants in the opening ceremony included
Unithai’s CEO Gerrit J. de Nys and Chavalit Tsao, chairman of the
executive board, along with company administrators and distinguished
guests.
During the ceremony Gerrit said that Asian industry has
an important part in advancing regional economic development, and
Unithai’s basic objective emphasizes a supportive role in creating work
in the industrial arena striving forward and continuing to provide
unwavering service to customers.
Unithai Shipyard and Engineering Company Ltd. are
included in the network with IMC Pan Asia Alliance Group, whose main
business is connected with ocean transportation services.
The “Chomphoophukha” floating dock is accompanied
by one other floating dock with Unithai at Laemchabang named
“Kanchanika” which started servicing ships in 1993. Chomphoophukha was
built by a Chinese manufacturer at a cost of (USD) 10-million. The
floating dock is capable of servicing ships in the category of 35,000 -
49,000 dead weight tons, and can be expanded to service ships in the range
of 60,000 - 70,000 dead weight tons.
Baht 500million circulates during Valentine Day festival
According to Thai Farmer’s Bank Research Center
approximately B500 million circulated through the Thai economy during St.
Valentine’s festival this year.
The Bangkok-based research house released a report
saying that the figure was 23% lower than the preceding year. Due to the
impact of Thailand’s current economic slowdown there was a cut in
spending amongst the local people during the lover’s holiday,
particularly teenaged Thais.
Other factors which had bearing on the decrease of
spending this year was the use of text-messaging through mobile phones and
the increased use of the Internet as a way of greetings to friends and
loved ones. This modern “Cupid” is an increasingly popular tool used
to send electronic cards and personal emails to lovers.
Roses did remain the most popular gifts during this
year’s love festival despite their rising prices. The rose is the
“queen of flowers” and according to the sales figures it held its
place as the most desirable representation of love and romance. Items such
as perfumes, negligee chocolates and desserts were also popular gifts and
enjoyed an increase in sales during the holiday. However, flower sellers
in Pak Kong Tiled, the largest flower market in Bangkok, conceded that
sale volumes of roses and other flowers on St. Valentine’s Day this year
dropped from last year. Reservations for restaurants and theatres,
particularly those in large department stores increased unsubstantially
during this period. (TNA)
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