In the News

US seeks stronger trade ties, ambassador says

US Ambassador Kristie Kenney foresees that trade and investment between Thailand and her country will increase strongly after the avoidance of the "fiscal cliff". Americans are excited about their country's economy and expect better growth this year.

After leading a group of US senators and congress members in a meeting with Commerce Minister Boonsong Teriyapirom in Bangkok yesterday, the ambassador to Thailand said the United States wanted closer cooperation and trade ties with this country as its economic growth is among the strongest in Asia.

The US will soon set up a trade and investment council meeting with Thai officials in Washington to brainstorm on how to promote more trade and investment. It is planning a mission bringing American businesspeople to Thailand for the same reason.

The group of lawmakers are travelling through 12 countries in Asia this month to strengthen US cooperation with each nation.

USO for 2 provinces

The National Broadcasting and Telecommunications Commission will pilot the development of broadband service in Nong Khai and Phitsanulok provinces under its Universal Service Obligation (USO) scheme.

The NBTC has budgeted Bt250 million for the USO project in each of those two provinces. It will call tenders from those interested in providing broadband service at speeds of 2 megabits per second.

The USO fund is used to hire companies to develop telecom services in remote areas.

The NBTC telecom committee will submit to the commission's board draft regulations to call bids under the USO scheme next Wednesday. If approved by the board, it expects to make the tender call in August and September.

The NBTC will pay the bid winners in five instalments: 20 per cent after the deal is signed, 30 per cent when 40 per cent of the network is installed, 30 per cent when 80 per cent of the project is finished, 15 per cent when the project is complete, and the remainder when the service has been up and running for one year and its service quality meets NBTC criteria.

BAAC ceiling may rise

The Finance Ministry is looking at increasing the loan guarantee for the Bank for Agriculture and Agricultural Cooperatives (BAAC) by Bt70 billion to serve the rice pledging scheme for the 2012-13 harvest season, raising the ceiling to Bt220 billion from the original Bt150 billion.

The bank has already withdrawn Bt55 billion from the existing loan, said Wanchai Siriwatanatrakul, BAAC director in charge of government policies.

SET roadshows start

The Stock Exchange of Thailand's roadshows this year will focus on bringing listed Thai SMEs to meet with Asian investors, SET president Charamporn Jotikasthira said.

The SET and DBS Vickers Securities (Thailand) will co-host "The Pulse of Asia Conference" in Singapore today to mark its first overseas roadshow this year. Transport Minister Chatchart Sithipan will present the government’s plans for transport and logistics infrastructure development at the event.