Thai firm unscathed

However, Thailand's Charoen Pokphand Group (CP), which runs seven feed mills and three Lotus retail supercentres in Chengdu city of Sichuan province, reported no serious damage.

CP Group vice chairman Dr Ajva Taolanond said only factory fences were damaged while production facilities remained intact.

CP, better known in China as Chia Tai, has an annual production capacity of 360,000 tonnes to 380,000 tonnes of livestock feed and 400,000 tonnes of fish and shrimp feed in Sichuan.

Livestock and chicken farms operated by CP in the region also avoided damage, Ajva said, adding that all Thai staff working in Sichuan are now safe.

Competitiveness index

Thailand has seen its rank improve significantly from last year's 33rd slot to 27th, according to the World Competitiveness Yearbook 2008.

The ranking, produced by the IMD Business School of Switzerland, shows that the United States, Singapore and Hong Kong remain the world's top three most-competitive economies, unchanged from last year.

However, another survey conducted by the University of Thai Chamber of Commerce (UTCC) said protracted political and investment policy uncertainties are key factors still hindering foreign investors from launching businesses in Thailand.

Vietnam is the most attractive place for foreign investment among Asean countries, followed by Thailand and Malaysia, according to the UTCC survey. The survey was conducted with responses from 156 foreign companies.

Case against thaksin

The Supreme Court asked the Constitution Court to rule on whether the Assets Examination Committee (AEC) had the legal authority to proceed with a high-profile case against former premier Thaksin Shinawatra.

The AEC, set up by the military following the September 2006 coup, charged Thaksin and his Cabinet members with breaking the law when the two- and three-digit lotteries were introduced during his tenure.

The case is now pending in the Supreme Court's Criminal Division for Political Office Holders.

If the Constitution Court finds that the AEC - which will be dissolved next month - does not have the authority, all the 14 other cases pending against Thaksin will likely be dropped.

Carbon trade

Thailand-based companies are expected to come up with about 100 carbon-dioxide (CO2) reduction projects by the end of this year, director of Thai Greenhouse Gas Organi-sation Sirithan Pairote-boriboon said yesterday.

He told a seminar organised by the Thai Reporters' Association that about 30 schemes aimed at reducing CO2 by about 2 million tonnes have been certified by the agency.

"We're evaluating another 28 projects. By end of the year, we expect to certify a total of 100 schemes. Certified projects need further approval by the UN body on climate change before they can start trading the CO2 credits," Sirithan said.

Each of the projects is estimated to have a capacity to reduce CO2 by an equivalent of 10,000 tonnes to 200,000 tonnes.

Steel sector concerns

The Iron and Steel Institute of Thailand warned the government that multinational steel makers may turn to neighbouring countries to site their steel blast-furnace projects.

Although Thailand has the region's highest demand for steel products, the government's policy to attract investors for an estimated investment of over Bt100 billion remains unclear, deputy director of the Iron and Steel Institute Dr Chatchai Somsiri said.

"If we have steel blast furnaces in Thailand, steel makers and related industries will not face a shortage of raw materials and price volatility," he said, adding the country will have to compete with Indonesia and Vietnam, which have iron ore.

Tata, BlueScope Steel and ArcelorMittal are keen to invest in upstream steel production in Indonesia, with ArcelorMittal last week acquiring shares of Krakatau Steel.