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PM TO DRUM UP SUPPORT FOR EEC IN BAHRAIN
Prime Minister Prayut Chan-o-cha will invite Bahrain investors to participate in the Eastern Economic Corridor (EEC) during his visit to the country next week to discuss expanding investment and trade flows between the two countries.
The Cabinet on Tuesday endorsed a joint statement by Thailand and Bahrain that the latter will support Thailand as a gateway for Bahrain to invest in Asean, particularly through the development of the EEC. Thailand, in turn, is praising Bahrain’s economic policy under the country’s 2030 Vision. The prime minister will visit Bahrain on April 24 to 26.
The two countries will also sign four memorandums of understanding, including one on collaboration between Thailand’s Agriculture and Agriculture Cooperatives Ministry and its Bahrain counterpart on agricultural trade.
Separately, the Cabinet endorsed Thailand’s stance on the third meeting of the sub-committee of trade and economic collaboration between Thailand and Russia, which will be held in Bangkok from April 20 to 21.
The meeting will focus on ways to reduce trade barriers.
TCG GUARANTEES B11 BN LOANS
Thai Credit Guarantee Corp (TCG) guaranteed new loans worth Bt11 billion for 16,000 small and medium-sized enterprises in the first quarter of this year. TCG said it aims to guarantee up to Bt15 billion in loans in the second quarter of this year, by working with the SME Development Bank, TCG president Niti Manoonporn said |yesterday.
P&G IN SINGAPORE INVESTMENT
US consumer goods giant Procter & Gamble said yesterday it will invest US$100 million (Bt3.43 billion) over the next five years in setting up a digital innovation centre in Singapore, in partnership with the country’s Economic Development Board.
The move reaffirms P&G’s commitment to Singapore and aims to strengthen its standing as an e-commerce hub. – The Straits Times
PLANTS LURED FROM CHINA
Southeast Asian countries are winning manufacturers over from China due to lower costs, rising domestic consumption and improving infrastructure, according to a report from real estate consultancy JLL. JLL, in a report released yesterday, predicts this will deliver a significant boost for industrial property investment across Southeast Asia.
