Thailand Morning News For September 29

PM issues reassurance that nation’s banks are stable
The Prime Minister has given an assurance that the five banks offered special risk managment measures are still stable and only received the measures to ensure stringent control.
— NNT

EEC bill passes first reading
The National Legislative Assembly (NLA) on Thursday accepted the Eastern Economic Corridor (EEC) bill in its first reading and would have its committee scrutinise the bill in 60 days.
— Bangkok Post

Higher Internet usage likely to grow E Commerce to 2 trillion baht in value this year
Statistics indicating Thailand’s most popular past time is surfing the internet and that online buying and selling are among the top 5 most popular activities has bolstered estimates that E-Commerce will reach 2 trillion baht in value this year.
— NBT World (video)

Private sector forecasts higher economic growth than last year
The Economic Intelligence Center of the Siam Commercial Bank (SCB) has predicted that the Thai economy will grow better this year than last and the private sector will likely invest more in 2018.
—NNT

Thailand placed higher on WEF competitiveness ranking
The World Economic Forum (WEF) has given Thailand a higher rank on competitiveness, citing improvements in many areas, especially transport infrastructure.
— NBT World (video)

UTCC revises its economic forecasts for Thailand due to positive indicators
Clear signs of economic expansion and a recovering export sector has helped bolster August’s consumer confidence index to 74.5, breaking four months of declines.
— NNT

Maya Bay being closed for three months next year
Park officials say they’re going to close Phi Phi island’s famous Maya Bay from June for three months next year.
— Phuket Gazette

Acquitted tour operator strikes back, sues police
The managing director of bus operator OA Transport, recently acquitted in a zero-dollar tours case, filed a malfeasance complaint against tourist and Bangkok police officers at the Crime Suppression Division…
— Bangkok Post

Govt to inject B46bn in river, sea transport upgrades
The government is investing more than 46 billion baht in a project to upgrade and build infrastructure for river and sea transport and increase the country’s competitive edge in trade.
— Bangkok Post

Lt Gen Werachon Several bilateral cooperation to be discussed during PM’s official US visit
According to a deputy government spokesperson, the Prime Minister will discuss bilateral cooperation and the Thailand 4.0 agenda during his visit to the United States.
— NBT World (video)

NBTC awards Bt13 billion contracts to narrow digital divide
THE National Broadcasting and Telecommunications Commission (NBTC) yesterday signed eight contracts worth Bt12.989 billion with five winners of its recent e-auction to provide a low-fee fixed broadband Internet service, as well as a cellular service, to 3,920 border villages.
— The Nation (annoying popups)

Imported steel gets a closer look
The Customs Department is implementing a stringent measure to prevent tax evasion and smuggling of low-quality steel into Thailand.
— Bangkok Post

8 contracts signed for high-speed internet services in 3,920 “fringe” villages
The National Broadcasting and Telecommunications Commission (NBTC) on Thursday signed eight contracts worth about 13 billion baht with five internet providers for the installation of mobile phone and high-speed internet services in 3,920 villages in “fringe” areas.
— Thai PBS

Macau company in tie-up with Thai firm on $300 million initial coin offering
A Macau company and Thailand-based firm are looking to raise more than $300 million through what would be the world’s largest crypto currency initial coin offering (ICO), according to a document seen by Reuters, to fund the construction of a floating casino hotel.
— Reuters

Thai VC Creative Ventures launches $50m fund focused on deep tech in US
Creative Ventures, the first Thai venture capital firm in Silicon Valley, has launched its second fund, aiming to raise $50 million to invest in deep tech companies in the United States.
— Deal Street Asia

Krungsri Finnovate leads Series B+ in Thai ICO unicorn Omise
Thailand-based blockchain and online payment startup Omise has secured an undisclosed sum in a Series B+ round led by Krungsri Finnovate, a venture capital arm of Krungsri (Bank of Ayudhya), according to a company announcement today.
— Deal Street Asia

Thailand and Laos discuss border issues
Thailand and Laos have discussed setting guidelines to enable them to work together to solve problems along the Thai-Lao border. The two parties pledged to expand their cooperation in various fields.
— NNT

Thailand Tourism Awards 2017 honours 110 Thai tourism enterprises
The Thailand Tourism Awards 2017, which recognise contributions from enterprises that upgraded the quality, professionalism and service standards of Thailand’s largest foreign exchange earning sector, honoured 110 Thai companies with the kingdom’s highest tourism award.
— TAT News

Uber calls on Thais to sign petition to back ride-sharing
Uber Technologies is inviting Thais to push for amendment of the Motor Vehicle Act of 1979 by gathering 10,000 signatures to support ride-sharing services.
— Bangkok Post

Feature photo joeclub_ake
Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

Thailand morning news by AEC News Today is your one stop source for Thailand news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.

Thailand Morning News For September 29 added by John Le Fevre on September 29, 2017
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John Le Fevre

Thailand editor at AEC News Today

John is an Australian national with more than 40 years experience as a journalist, photographer, videographer, and copy editor.

He has spent extensive periods of time working in Africa and throughout Southeast Asia, with stints in the Middle East, the USA, and England.

He has covered major world events including Operation Desert Shield/ Storm, the 1991 pillage in Zaire, the 1994 Rwanda genocide, the 1999 East Timor independence unrest, the 2004 Asian tsunami, and the 2009, 2010, and 2014 Bangkok political protests.

In 1995 he was a Walkley Award finalist, the highest awards in Australian journalism, for his coverage of the 1995 Zaire (now Democratic Republic of Congo) Ebola outbreak.

Prior to AEC News Today he was the deputy editor and Thailand and Greater Mekong Sub-region editor for The Establishment Post, predecessor of Asean Today.

In the mid-80s and early 90s he owned JLF Promotions, the largest above and below the line marketing and PR firm servicing the high-technology industry in Australia. It was sold in 1995.