Cabinet approves PEA’s loan of 3 billion baht

House, Cabinet approves PEA to borrow 3,052 million baht in the country for long-term investment. Mr. Karom Phonphonklang, Deputy Spokesperson of the Prime Minister's Office, revealed that the Cabinet meeting resolved to approve the Provincial Electricity Authority (PEA) to borrow money domestically. According to the new long-term plan for 2023, there are 5 plans with a total amount of 3,052 million baht. Loans have been included in the public debt management plan for the fiscal year. The 5 investment plans include: 1. PEA's digital operations plan for communications and telecommunications in 2023 is used to develop PEA's communications network to cover digital technology management to be speedy. Respond to the needs of various work lines and help support internal work processes to be more efficient. Using a domestic loan of 300 million baht 2. Long-term plan for underground cable construction (Phase 2) to construct and improve above-ground electrical lines into underground cables in 74 provinces under th e responsibility of PEA. Improving the landscape to be beautiful. Budget support for civil works in 2023-2025, domestic loan of 1,537 million baht. 3. Construction plan for renovation of Building 2 and area plan of PEA Headquarters in order to obtain assessment and certification of LEED4 standards, for the renovation of Building 2 into a new era office. (Modern-Office) and is an energy-saving and environmentally-preserving building (Green Office) certified according to LEED standards. At present, Building 2 is an old building with a useful life of approximately 40 years. The building is in deteriorated condition. Period 2023-2025. Domestic loan of 302 million baht. 4. Plan to improve the efficiency of the power station control and protection system, phase. Currently, there are 653 power stations that use the CSCS system. They have been in use for more than 10 years, causing the main equipment of the CSCS system to begin to frequently break down. Therefore, the old CSCS system must be dismantled and a new CS CS system installed in its place, to be implemented in 2023-2026. Domestic loan of 343 million baht. 5. The Digital Operations Plan for Work Systems and Platforms for 2023 is the development of effective and systematic digital platform administration and management guidelines. Including developing infrastructure that is consistent with operating directions and technology trends and promoting cyber security capabilities. Implementation period 2023-2024, domestic loan 570 million baht. Source: Thai News Agency

Cabinet prepares budget for 2024 to support digital wallets

House of Representatives, Cabinet prepares additional budget for 2024 to support Digital Wallet of 500 billion baht, hoping to stimulate the economy at the end of the year. Green light for the country's central payment platform Supports the creation of a comprehensive welfare system Mr. Chai Watcharong, spokesman for the Office of the Prime Minister, revealed that the Cabinet meeting approved the guidelines for creating additional budget expenditures for the year 2024 as proposed by the Budget Office (B.P.O.) in order to equalize the budget. To be used to support the Digital Wallet project worth 500 billion baht, hoping to stimulate the economy at the end of the year. For details on additional budget allocation, submit it to the Cabinet next Tuesday, 28 May 2024. After the fiscal year 2024 budget period has passed for 7 months, there are only 5 months remaining, namely May - September 2024. Government agencies have already spent 1.75 trillion baht, accounting for 50.61 percent of the budget. allocate There fore, the other half of the budget, or approximately 1.75 trillion baht, is left to pay for government salaries, debt repayment of 1.25 trillion baht, and new investment of another 500 billion baht will definitely not be allocated for investment in time. 'The Budget Bureau views that the remaining period of 5 months is for the use of investment budgets if the method through the Budget Transfer Act is used. During the adjustment of the money transfer budget, it will take 2 months, causing disruption to every aspect of the budget. Wait until it passes. The council therefore chose a method of use. The Annual Additional Payment Act 2024 allows all parts to continue using the budget. There is also a way to use the budget to support the Digital Wallet, transferring 10,000 baht to distribute the money to the system. Stimulate the economy at the end of the year,' Mr. Chai said. Mr. Chai added that the Cabinet also approved the Payment Platform project as proposed by Digital Government Development Agency (Public Org anization) (Public Organization) is the operator of the Payment Platform project to serve as the country's central payment platform to connect with various financial service providers, upgrading the country's financial infrastructure. Reduce the cost of the economic system Increase your ability to compete In the first phase of 160 days, during July-September 2024, procurement and workshops will begin. July-December 2024, proceed with system development and testing. and October 2024-March 2025, providing system services and supporting usage, with the SPRO requesting a central budget of 95 million baht to support the development of payment platforms. Source: Thai News Agency

Krung Thai advises the government to push Green Technology in the sugar industry.

Bangkok, Krungthai COMPASS Research Center states that Green Technology helps raise the sugar industry towards sustainability. Suggesting that the state is the main driving force Krungthai COMPASS Research Center points out that investing in green technology will elevate the sugar industry to a sustainable green industry. It will help cope with the problem of Climate Change that is becoming more severe. Including reducing pressure on the measures of trading partners that focus on environmental issues. This will help increase the competitiveness of the sugar business in this era. Decarbonization It is expected that investing in green technology in each category will result in an ROI of around 20-30% with a payback period of 3-7 years and create benefits for the sugar industry of approximately 170 billion baht, suggesting that the government is the main focus. Principles of pushing the sugar industry towards a green industry Mr. Apinan Suprasert, Senior Analyst, Krungthai COMPASS Research Center, Krung Thai Bank, revealed that the sugarcane and sugar industries are one of the industries that are important to the Thai economy. Generate income from exports of over 100 billion baht per year. Accounting for approximately 9% of GDP, the agricultural sector is an industry with relatively high greenhouse gas emissions and pollution, with PM 2.5 emissions as high as 11% of Thailand's total PM 2.5 emissions. And greenhouse gas emissions account for 9% of the total amount of greenhouse gas emissions in the agricultural sector. Therefore, it is one of the industries that many parties are aware of in pushing to accelerate the transition to a green industry. which if concrete action can be taken It will be one of the important sectors in the agricultural sector that will help Thailand achieve the country's participation goal in reducing greenhouse gas emissions according to the Nationally Determined Contribution (NDC). 'Every 1 ton of sugar production in the Thai sugar industry releases Emission approximately 7,150 kgCO2eq o r equivalent to transporting goods by truck over a distance of approximately 10,000 kilometers. Including waste from the production process. This puts the sugar industry at risk from environmental policies and measures that are likely to become more stringent. In addition, the risk of climate change problems will intensify in the future. This may result in sugarcane production in 2046-2055 likely to decrease by 25-35%, affecting Thai sugar business operators to face the problem of raw material shortages,' Mr. Apinan said. Mr. Kritchanon Jindawong, analyst at Krungthai COMPASS Research Center, said that adapting to the transition to a green industry will help sugar business operators reduce pressure from trading partners' measures. and helps entrepreneurs reduce costs from energy use In addition, it is easier to raise funds and have lower financial costs. Including being able to increase the opportunity to generate additional income from expanding into the renewable energy business. There is also support from government and private agencies that want to move towards a green industry. 'Green Technology will be a key enabler that will help medium-sized sugar business operators who have not yet had much of an adjustment to this matter to make the transition. Going to a green industry more easily, such as using sugar cane cutters instead of burning sugar cane, using Economizer Boilers in sugar factories. or expanding into the biomass power plant business Evaluating the worthiness of the investment, it was found that the ROI was 21.0%, 16.1%, and 27.1%, respectively, with a payback period of 3-7 years. And if all 63 sugar industries have raised the level of Using technology in a concrete way will result in benefits of around 170 billion baht from environmental value that reduces air pollution and saves on energy costs. Including generating additional income for the business,' Mr. Kritchanon said. Mr. Pramote Wattananusan, analyst at Krungthai COMPASS Research Center, said that if the Thai sugar industry wants to succe ed in upgrading to a green industry. There should be emphasis on the value for money in investing in technology. and set clear and measurable goals, including a commitment to reduce greenhouse gas emissions Including the creation of cooperation in the ecosystem from farmers to the government sector. for the development of the entire industry together 'The price and quantity of sugar exports are still likely to grow well. Therefore, government agencies It should be the mainstay in pushing the sugar industry towards a green industry, such as developing the Thai carbon credit market to meet international standards such as Gold Standard or VERRA, which are world-class standards. So that Thai entrepreneurs can fully benefit from the carbon credit trading market. Similarly, the financial sector is another key factor that helps support investment in Green Technology as well as encourage investment in new businesses. from the environmental transition To help support the entire Thai sugar industry to be able to adjust to a sustainable green industry,' said Mr. Pramote. - Source: Thai News Agency

Thai stocks closed this morning down 7.63 points.

Bangkok, Stock Exchange Closed this morning at 1,371.07 points, down 7.63 points (-0.55%), trading value approximately 20,281 million baht. In morning trading, indices fell by region. The highest level was 1,376.94 points and the lowest level was 1,369.21 points. Source: Thai News Agency

OIC opens training course for WPSC, Class 12

Bangkok, The OIC organized the opening ceremony of the 12th class of the Advanced Insurance Science Training Course or OCS to develop insurance knowledge for the public and private sectors. A total of 144 people spent time studying and training. 6 months Mr. Lawan Saengsanit, Permanent Secretary of the Ministry of Finance, presided over the opening ceremony of the 12th class of the Advanced Insurance Science Training Course or VPS. Mr. Lawan said at one point that Has followed the education and training courses WPS has been in existence since the first generation, with each curriculum having different strengths in each generation. Some models have strengths in security, capital markets, energy and law, etc., which risk management courses consider. It is very important because those who receive insurance training will be able to apply it to manage risks in their organization. Mr. Chuchat Pramphonphon, Secretary-General of the Office of the Insurance Business Regulatory and Promotion Commission (OIC), reveal ed that the OCS course has been opened for 11 batches. This batch is the 12th batch. In the past, there were people who successfully completed the course. More than 1,000 people have received the WPS. This batch will accept 144 people from approximately 400 applicants from the government and private sectors. The training course takes time from May to October, a total of 6 months. The training format includes studying in the classroom, outside of the classroom, making reports and study visits both domestically and abroad. The OIC has improved the curriculum to become popular in order to develop insurance knowledge and develop to be a leader in the public and private sectors. insurance business There will be a highlight when an unexpected event occurs. The insurance business will be the one who can fix everything. The OIC also expects that Those who attend the training will help share their knowledge and abilities with others. OIC also considers learning together to create a better insurance network in the futu re. Source: Thai News Agency

Invitation to the 39th PTT Art Awards PTT Art Awards

PTT Public Company Limited together with Silpakorn University Organized the 39th PTT Art Awards 'PTT Art Awards' for the year 2024 on the topic 'Forwarding Power' Inviting youth and the general public You can submit your work to the competition in the categories of painting, sculpture, printmaking, 2D digital art, and other visual arts. This year is the first year that submissions are being accepted. '2D digital art' Open for submissions from 4 groups: under 9 years old, 9 - 13 years old, 14 - 18 years old, and the general public. Submission deadline Between 10 - 16 June 2024 Submit your work along with your application in person at 5 work pick-up points in various regions or send it via post. More details at Facebook: Art Gallery at Ban Chao Phraya or call 0 2537 1388. PTT Art Awards … power..that is passed on Because we believe in everyone's unlimited potential. Bring it to replenish life energy creative society and confidently develop the country into the future together. Source: Thai News Agen cy

Invite ambassadors from 19 countries to explain Thai alien laws.

Nonthaburi, The Director-General of the Department of Business Development invited representatives of embassies and international agencies from 19 countries to explain laws and guidelines for facilitating foreign investors to invest in Thailand, along with introducing e-Foreign Business services. New online for foreign investors Mrs. Oramon Sapthaweetham Director General of the Department of Business Development The Ministry of Commerce revealed that 'On May 20, 2024, the Department of Business Development Held a meeting on 'Thailand's Foreign Business Act, Update on Revision and Introduction of e-Foreign Business Service' by inviting representatives from various embassies. international agency and government agencies, totaling 19 agencies, 36 people, such as the Australian Embassy British Embassy EU Chinese Embassy Japanese Embassy Joint Foreign Chambers of Commerce in Thailand (JFCCT),Japan External Trade Organization (JETRO Bangkok),Korea Trade-Investment Promotion Agency (KORTA Bangkok), European Associ ation for Business and Commerce (EABC) Office of the Board of Investment and the Department of International Trade Negotiations, etc., to hear information about the essentials of the Foreign Business Act B.E. 2542, the process for applying for a license/certificate for foreign business operations. as well as supervision of business operations of foreign investors. To create awareness of the importance of the law and create understanding of the law Including providing information on facilitating foreign investors. in order to conduct business in Thailand under the supervision of this law This is an overview of the mission of the Department, which is divided into 3 important parts: business establishment registration; Promoting and supporting entrepreneurs, including SMEs, and supervising entrepreneurs to conduct business with good governance. By conducting yourself correctly according to relevant regulations or laws. As for the Foreign Business Act of 1999, which is an important law that regulates the busines s operations of foreign investors. Since the company establishment process Specify the types of businesses that are regulated by law. Process for requesting a business license/certificate As well as supervising foreign investors to comply with the conditions or criteria according to the law. The Department places importance on facilitating foreign investors. It is preparing to open a new online system 'e-Foreign Business', which is a system for applying for permission to operate a business by foreign investors under Foreign Business Operations Act which will be ready for full service in July 2024. It will provide a complete electronic service, including filing applications for licenses/certificates of business operations of foreigners through online channels. Electronic payment (e-Payment), electronic receipt (e-Receipt), electronic signature (Digital Signature), issuance of electronic license/certificate (e-Foreign Business License/e-Foreign Certificate). The service can download licenses/certificates via o nline channels immediately. The e-Foreign Business system will reduce the amount of documents, shorten the time, and provide great convenience to entrepreneurs/service recipients. It is another way to create a good atmosphere for investment. In addition to opening the new online service system, the Department is also reviewing/improving business types according to the list attached to the Act. annually When any business is removed from the list attached to the Act, foreign investors do not have to apply for permission to do that business. This is considered to be a convenience for foreign investors. Information has been given on the progress of the review of 10 businesses listed in the Act, which are currently in the process of finalizing the draft ministerial regulations specifying businesses that do not require permission. and draft Royal Decree amending the wording of businesses which has already been listened to and presented to the Minister of Commerce and the Cabinet for further consideration. This is due to the current news that there are foreign investors coming to do business. They may act incorrectly or may not understand the conditions or criteria according to Thai law, that is, foreign investors conduct business by avoiding the law. Use Thai people to hold shares instead (nominates). Therefore, when inviting agencies Attend this meeting I have tried to create understanding. Awareness and disseminate correct information to foreign investors in order to conduct business correctly. It is to build confidence for foreign investors to have a comprehensive understanding of investing in Thailand legally and comprehensively. more spacious and hope that representatives of various agencies This will be disseminated and understood to investors in their own countries so that they can continue to do business in Thailand with good governance. Source: Thai News Agency