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Tri-lingual computers planned
Tri-lingual personal computers are to be produced and
sold in Thailand in the near future. The computers will have Thai, English,
and Arabic operating systems. These computers will be of special interest to
Muslims and anyone doing business with the Middle Eastern countries, the
managing director of the Islamic Bank Of Thailand (IBOT), Anant Tangthasawas,
said.
The computers are to be produced by a joint venture
between the IBOT and Saha Viriya Office Automation. The Cerelon-operated
units are expected to be priced at Bt 17,856 each, while the
Pentium-operated machines will be sold at 22,524 baht each. The computers
will also be available on a twelve-month installment scheme. Anant said he
expected to sell more than 10,000 units computers this year. A notebook
version of the tri-lingual computer could be available next year. (TNA)
Power station opposition pushes up electricity bills
The Electricity Generating Authority of Thailand (EGAT)
decision to bow to public pressure and renege on its commitment to build
coal-powered generating stations in Prachuab Khiri Khan Province will result
in higher generating charges, a source from the Ministry of Energy said.
Fierce local opposition to the Baan Hin Krut and Bo Nok
power generation projects led the government to change the location for the
two proposed generating stations earlier this year. The 700 megawatt station
that was to be built at Bo Nok will now be located in Saraburi Province,
while the 1,400 station that was slated for Hin Krut will now be built in
Ratchaburi.
Under the terms of the contract signed between the two
private sector generating companies and EGAT, the electricity authority will
be required to pay 5.4 billion baht in compensation for the investments
already laid down in Prachuab Khiri Khan. This will result in per-unit
charges which are 5 satang higher than the costs would have been for power
generation at the original locations. (TNA)
Power company donates to medical equipment
International
power producer, Thai National Power, located in Siam Eastern Industrial
Park, has donated medical equipment to Rayong Hospital for use in its
hospital emergency room. Pictured receiving the donation is Doctor Chaiyasit
Pinyowittayakul (3rd left), director of Rayong Hospital from Chanin Yolyaem
(4th right), business services manager, Thai National Power.
Deposit insurance institute set up next year
The deposit insurance institute is likely to be
completely established next year, according to Vice Minister for Finance
Veerachai Veerametheekul. He disclosed that a bill on the establishment of
the institute was almost completely drawn up with some details to be
discussed with the Bank of Thailand (BOT) next week.
Should all parties concerned endorse the bill, it will be
submitted to Finance Minister Somkid Jatusripitak for consideration before
being forwarded to the cabinet for approval.
It is expected that the bill will go before the House of
Representatives meeting and be put into effective next year. With the
registered capital of one billion baht, the deposit insurance institute
would be supervised by the 7-member committee. Some members are represented
by the Finance Ministry and the BOT.
The institute is authorized to guarantee deposits of the
public in a limited amount. Its liability to the deposits would begin with
not exceeding 50 million baht in the first year of its operation. The
liability would gradually decline to 25 million baht in the second year, 10
million in the third year, and one million baht in the fourth year.
Member financial institutions are required to contribute
not exceeding 1% of deposits and interest to the institute. But at an
initial stage, the contribution collected by the institute is expected to be
only 0.4%, which is equal to the rate the financial institutions had paid to
the Financial Institution Development Fund. (TNA)
Economy continues to expand in June
The country’s economy continued to grow in June, boosted by
a steady increase in private consumption and investment, according to the Fiscal
Policy Office (FPO). Somchai Sajjapong, deputy director-general of FPO,
disclosed the economy continued to expand although the consumer confidence index
edged down to 98 points in June because of concern on higher gasoline prices and
a southern unrest. The value-added tax collection in June expanded 17.3% year on
year and that of the excise tax on durable goods grew 28.8%. He noted the tax
collection on property business transactions surged 85%, reflecting the strong
recovery in the property business.
According to the Finance Ministry’s study, the demand for
houses, particularly in the medium- and low-end level, will continue to increase
in the next five years. But for houses priced at 10 million baht or up, close
supervision is needed to prevent speculation, which could lead to the repetition
of the bubble burst like in the past.
Somchai said that private investment expanded satisfactorily
along with the economic growth and the state spending continued to rise in June
as could be witnessed by an increase of expenditure budget by 13.5% year on
year.
Exports surged by 28% from June last year to US$8.5 billion
baht, driven by a considerable rise in the shipment of rice by 169.4% and
electricity-circuit boards by 87.3%.
Imports totaled $8.2 billion, up 41.6% from the same month
the year before, driven by a surge in the shipment of fuel by 112.3% and
machinery by 45%. It resulted in a trade surplus of $239 million in June.
Somchai said lending by commercial banks in May expanded 7.9%
year on year in parallel with the greater investment demand and that by
specialized financial institutions remained stable. (TNA)
Phuket eyes IT security
with cutting-edge IPv6 system
Phuket is to boost its credentials as a center of
information technology by introducing the state-of-the-art IPv6 system to
ensure island-wide Internet security. The Internet Protocol Version 6 (IPv6)
project comes at a time when Phuket is hoping to transform itself into an
‘IT City’.
Phuket Deputy Governor Winai Buapradit said that the
installation of the IPv6 system would use existing broadband internet
networks belonging to CAT Telecommunications Plc and TOT Corporation Plc.
Based on digital cameras, the system will have its heart in control centers
which will hold data for at least three months.
Twenty million of the 45 million baht project will come
from the Ministry of Information and Communications Technology, with the
rest made up by provincial authorities. Initially the project will see the
installation of cameras in 70 points across the island, including the
tourist hotspots of Patong, Kata, Karon and Kamala. Each camera will cost
around 80,000 baht. (TNA)
Government pledges
to cap diesel price by year end
The government has assured investors and industrialists
that it will continue to cap the diesel price until the end of the year to
contain local production costs and confidence in the Thai economy. Energy
Minister, Dr. Prommin Lertsuridej said that the margin between the capped
diesel price and that on the world market was almost 4 baht a liter.
However, the government would continue to cap the diesel price, he pledged.
“The government will continue capping the diesel price,
otherwise entrepreneurs and consumers, as well as the overall Thai economy
will be affected,” he said.
Recently the prices of premium gasoline and regular
gasoline (benzene octane 95 and benzene octane 91) were edged up 0.60 baht a
liter to stand at the highest ever levels of 19.93 baht and 18.5 baht a
liter respectively for Bangkok and its environs. The price could be raised
again, Dr. Prommin conceded, because the actual price of the premium
gasoline now stands at 21.06 baht a liter. (TNA)
Expanding spa business
spurs demand for sesame
Local farmers are being urged to grow more sesame to meet
the expected increase in demand that is likely to result from the growth in
the country’s spa business. Sesame seeds and oil are both in demand.
Sesame oil is used in oriental cooking, and is an important ingredient in
many skin and health-care products.
The Department of Agriculture believes demand for sesame
is likely to increase significantly in the near future. The government plans
to develop the local spa and health-care business, and wants Thailand to
become a regional hub.
The government wants to see farmers grow high yield
sesame seeds with a high nutrition value, Chalermpol Rungreung, chief of the
government’s agricultural research institute stated. A new type of sesame
seed will soon be distributed to farmers, as well as the technology needed
to grow it.
Thailand only produces 40,000 tons of sesame seeds every
year, and nearly two-thirds of this is exported. International demand for
sesame products is high. Japan’s demand for imported sesame seeds alone is
as high as 100,000 tons a year. (TNA)
Food and rubber industries
in the South get a boost
The government is to proceed with its planned project to
develop “small and medium sized enterprises (SMEs) in Thailand’s
southern provinces. It aims to support fifty thousand new entrepreneurs over
the next eighteen months. This is part of the government’s strategy to
eradicate poverty in the region.
The scheme involves expanding the processed food and
rubber industries in the area. The government believes these industries have
the best potential for growth and will provide a strong business base for
further economic development in the southern region.
The halal food industry will be one of the main targets
for boosting employment in the three southern provinces, Pattani, Yala, and
Narathiwat. The Board of Investment (BOI) will offer special concessions and
incentives to businesses in these provinces to help attract investors to the
area. (TNA)
Thailand to speed up
import-export procedure
The government has planned to reduce the time importers
and exporters spend on managing documents and customs procedures at ports
from five days to only one day. The Finance and Transport Ministries, in
conjunction with other agencies concerned, will speed up all the procedures
concerning goods coming in, or going out of the kingdom for the benefit of
entrepreneurs, said Permanent Secretary for Finance Somchainuk Engtrakul.
Four key agencies concerned, including Thai Airways
International Public Company Limited (THAI), Airports Authority of Thailand
Public Company Limited (AAT), the Port Authority of Thailand (PAT) and the
Customs Department have been ordered to study how to speed up their services
for importers and exporters. “This will help reduce their expenses by
keeping the goods in their cargo for shorter periods,” Somchainuk noted.
There are now more than 40 government units from the
Agriculture and Cooperatives and Commerce Ministries to the Public Health
Ministry involved in the country’s import-export, or logistics system,
besides the Finance and Transport Ministries. Therefore, all of them will be
called in to work out on common understanding and implementation standards
before beginning the new idea of service. The scheme is part of a master
plan on developing intra-national transporting network or logistics system,
aimed at reducing logistics costs by 10% within five years to enhance
competitiveness of local entrepreneurs. (TNA)
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