The first release of gross domestic product figures at regional level will be on February 27, said Chiradet Ousawat, president of the university after he signed a cooperation agreement with the Comptroller General's Department.

The two parties have cooperated over the past two years in gathering information and assessment of the economic situation in each of the 76 provinces.

The economic assessment of each region - South, North, Central and Northeast - will help investors and businessmen to make wiser decisions in their business planning.

The central bank has annually assessed the regional economic situation, while the National Economic and Social Development Board has reported the gross domestic product for the whole country quarterly.

Chiradet said the new regional reports would complement these and provide faster economic data.

In another development, the Cabinet yesterday approved the Finance Ministry's proposal to cut tariffs on parts of commercial cars which are powered by natural gas for vehicles (NGV). Import tax on complete knock down (CKD) chassis with engine will be cut to zero per cent from 10 per cent.

The cut includes NGV retrofit, also down to zero percent from 10 per cent. The cut will be enforced until the end of 2008.

The Customs Department will also waive tariffs for new engines powered only by NGV and imported as CKD.

There are also other small items subject to a tariff cut, but the department has raised tariffs to 5 per cent from zero per cent for items such as string, foil and sheet copper.

Wichit Chaitrong

The Nation