Economy and commerce
Thai bank buys Cambodian MFI in mammoth deal
In what may be the biggest deal in Cambodia’s financial sector history, Thailand-based Bank of Ayudhya has reached an agreement to acquire the local microfinance institution (MFI) Hattha Kaksekar, with the deal expected to be valued at upwards of $140 million. In a statement released on ...
Myanmar allows 40 percent foreign ownership in condominiums
Myanmar’s Union Parliament approved on 22 January the draft Condominium Law to allow 40-per-cent foreign ownership. Under the law, foreigners can buy up to 40 per cent of condominium units. Keep reading ...
Lower rice exports anticipated
The Thai Rice Exporters Association expects a decrease in the volume of rice exports this year. Keep reading ...
Tourist park venture in Vientiane
Vientiane Planning and Investment Department signed an agreement, last week, with two private companies to develop the Nong-Or zone in Sikhottabong district, Vientiane, into a tourist site. Vientiane Times reported that the Vientiane Planning and Investment Department concluded a Memorandum of Understanding for the project on ...
Thai Government approves B52.82bn budget to join AIIB
The Thai cabinet approved a budget of 52.82 billion baht on 26 January to join the China-led Asian Infrastructure Investment Bank seen as a rival to the US-led World Bank, government spokesman Sansern Kaewkamnerd said. Keep reading ...
Vietnam rakes in over $30 billion with phone exports
Vietnam’s exports of mobile phones and parts exceeded US$30 billion last year, surpassing all other products, customs data showed. That was a 27.9 percent increase compared to 2014, and accounted for 18.7 percent of the country’s total export revenue, it said. The EU was the biggest buyer of ...
Vietnamese investment minister calls for political reforms
A Vietnamese government minister has warned that the country must immediately reform its political system if it does not want to be left behind. Minister of Planning and Investment Bui Quang Vinh told the National Party Congress on 22 January that Doi Moi (Renovation), the economic reforms ...
Tariffs on 1,100 items may go
Thailand’s Finance Ministry is seeking cabinet approval to waive import tariffs on more than 1,000 items, says Customs Department director-general Kulit Sombatsiri. If approved, 56 categories of imported goods and a total of 1,100 items will be allowed into the country without tariff, Mr Kulit said. Keep reading ...
Board of Investment to propose privileges for smart farmer scheme
Thailand’s Board of Investment (BoI) is set to propose promotional packages to support “smart farmer” projects at its next board meeting. Secretary-general Hiranya Sujinai said packages should combine both the BoI’s investment privileges and other support such as finance, technical assistance and market access development. Keep reading ...
ADB keen to support megaprojects
The Thai government’s megaproject investment is likely to use domestic lending sources in the initial phase with foreign lenders joining in the later stage, says the Asian Development Bank (ADB). Based on discussions with the Finance Ministry, Yasushi Negishi, the country director for the ADB’s Thailand ...
