Briefs

Finance Minister Apisak Tantivorawong said gross domestic product growth in 2017 should surpass the target of 3.4 per cent as a new lot of government bonds worth Bt100 billion will be injected into the provincial investment budget.
He said the bond issue is not part of the fiscal policy of the government.
The Bt100 billion is part of a measure to boost strong and sustainable growth of the local economy. The bond proceeds will be allocated to 18 provinces at Bt5 billion to Bt6 billion per province to push economic and social development projects from February to September 2017.
However, the Finance Ministry has left the inflation target unchanged at between 1-4 per cent for next year. 

Somkid heads investment
delegation to China

Deputy Prime Minister Somkid Jatusripitak will lead a delegation to China to explain Thailand’s investment-promotion policy for 10 targeted industries and to encourage Chinese investors to invest in the East Economic Corridor (EEC).
Hiranya Sujinai, secretary-general at the Board of Investment, said that Somkid and the delegation would visit Shenzhen, Hangzhou and Beijing from December 7-12 while attending an annual conference of the Joint Committee on Trade, Investment and Economic Cooperation China-Thailand in Beijing.
During the period, the delegation will discuss with no less than 10 big companies of China, which are interested in investment in Thailand. 
“The operators with whom discussions will be held are interested in making investments in the form of collaboration with educational institutions, state agencies and research institutes in Thailand, especially for medical equipment. Some are interested in establishing international headquarters to oversee their Asian operations,” Hiranya said. 

CPI rise sign of
 demand recovery

November’s Consumer Price Index (CPI) edged up 0.60 per cent year on year, the highest in 23 months, to 106.79 – reflecting the country’s demand recovery, according to the Ministry of Commerce.
Pimchanok Vonkorpon, caretaker director-general at the Trade Policy and Strategy Office (TPSO) at the ministry, cited rise in fresh food prices as a result of weather fluctuations and the oil price for the increase in the headline CPI. 
The core CPI rose 0.72 per cent year on year.
The 11-month headline CPI rose 0.10 per cent, still within the estimated 0.0-0.1 per cent. The rest of this year is expected to see slightly higher inflation from household spending in light of stimulus measures during the New Year. 
Next year’s headline CPI is expected to rise 1.5-2.0 per cent, based on the estimated 2017 growth of 3.0-3.5 per cent, estimated Dubai crude price of US$45-$55 (Bt1,600-Bt1,900) per barrel and estimated Bt35.5-Bt37.5 per US dollar. 
The minimum wage increases are expected to impact on next year’s inflation by 0.20-0.35 per cent.

Exim inks $4-million
financial facility pact 

The Export-Import Bank of Thailand (EXIM Thailand) signed a financial-facility agreement worth US$14.10 million, or Bt500 million, to support SCI Electric Plc’s plant construction for its manufacturing of power transmission and telecommunication towers and rendering of hot-dip galvanising services in Myanmar’s Thilawa Special Economic Zone.
EXIM Thailand president Pisit Serewiwattana said Myanmar had launched a number of schemes to promote investments, particularly foreign direct investments, since its opening up, thus significantly pushing up its electricity demand. 

Thailand voted the best 
destination for weddings 

Thailand has again been voted best wedding destination by readers of Travel+Leisure India and South Asia. 
This marks the fifth year in a row that Thailand has received this prestigious award.
The best wedding destination is chosen via a readers’ poll in the print and online versions of Travel+Leisure India and South Asia. Final decisions are also based on expert opinion. 
Thailand’s top ranking reflects the huge popularity of Thailand for Indian wedding planners and couples seeking a romantic destination. 
According to the Tourism Authority of Thailand’s New Delhi Office, each year around 400 Indian weddings are held in Thailand at various locations, such as Bangkok, Pattaya, Hua Hin, Rayong, Phuket, Krabi, Khao Lak and Chiang Mai. 
Thailand is also a favourite among Indian visitors for celebrations, such as anniversaries, birthdays, family reunions, bachelors and bachelorette trips.