Thailand Roundup: Firearm exportation, casino complexes, attracting investors, and policy rate
US suspends export of firearms to Thailand, other countries
The US Department of Commerce is suspending the export of most US-manufactured firearms to Thailand and other significant markets for a period of 90 days. Additionally, they are conducting a review of their involvement in the country's largest gun trade show to ensure that it aligns with their policies, according to Bangkok Post. Bloomberg has conducted an extensive investigation over several months, focusing on the effective strategies employed by the US gun industry to boost the worldwide sales of their products, alongside the supportive policies of the United States.
House committee to conduct a study on the feasibility of legal casino complexes
The House of Representatives has established a 60-member committee to investigate the potential opening of entertainment complexes, which may include casinos, as a solution to the issue of illegal gambling establishments and to stimulate the nation's economy. This proposal was put forward by Members of Parliament from different political parties, according to Bangkok Post. Notable proponents of this motion include Thoedchart Chaipong, a Pheu Thai MP representing Chiang Rai, Non Paisanlimcharoenkij, an MP from the Move Forward Party representing Nonthaburi, and Chatchawal Kong-udom, an MP from the United Thai Nation Partylist.
Thai gov't eyes international investors
The Finance Ministry is contemplating the issuance of bonds on the global market as a means to set a standard for the country and draw in foreign investors. This marks a notable shift from a policy that has been in place for three decades, according to Bangkok Post. Deputy Finance Minister Julapun Amornvivat revealed that Prime Minister Srettha Thavisin has directed the Public Debt Management Office (PDMO) to explore the possibility of issuing foreign bonds with the aim of establishing a reference point for the private sector in their efforts to raise foreign capital.
Thai’s policy rate good for now, but worries about ongoing conflict in the Middle East
Thailand's central bank governor stated that the current policy rate is well-suited for the country's economy, but he emphasized the bank's preparedness to make "modifications" as required. He raised caution about growing global risks and uncertainties related to the Middle East situation, according to Reuters. Sethaput Suthiwartnarueput shared on Saturday that the second-largest economy in Southeast Asia is still anticipated to achieve growth close to the projected 2.8% for this year, although third-quarter growth might turn out to be more subdued than initially anticipated.
