JSCCIB backs digital economy, e-commerce; urges private sector to cut water usage

The JSCCIB, which comprises the Federation of Thai Industries (FTI), the Board of Trade of Thailand and the Thai Bankers’ Association, yesterday also decided to run a campaign urging the private sector to reduce water usage by 20-30 per cent by June, said Supant Mongkolsuthree, chairman of the FTI.
The committee found that the economy had not brightened in January, with economic activities slowing from the previous month, while tourism was the only sector with consistent growth momentum.
The state budget had been |disbursed consistently, it said, but at a declining pace after investment-budget disbursement was accelerated in the first quarter of the fiscal year, which began in October.
Private consumption, meanwhile, was in slowdown mode after the acceleration of car purchases before January’s rise in excise duty, and a tax-deduction measure late last year.
 Private investment was still low in January, due to sufficient production and the rise in vehicle excise, the committee found.
 January’s exports shrank 8.9 per cent year on year – the worst performance in three years – with almost all markets seeing a contraction.
Exports to Cambodia, Laos, Myanmar and Vietnam expanded at a slower pace, at 1.2 per cent, due to a drop of 30 per cent in the prices of refined oil products, chemicals and petrochemicals. Manufacturing output contracted in January, after a slight expansion in the previous month.
However, production of electrical appliances, particularly air-conditioners improved, due to exports to the US.
The tourism sector was the only key economic driver, with foreign tourists touching 3 million in the month, led by Chinese visitors.
There was also a clearer recovery sign among European tourists, the committee found.