Category: The Bangkok Post

Veolia, a global leader in resource management, has acquired all of GPSC’s 33.3% stake in Eastern Seaboard Clean Energy Company Limited (ESCE), a holding vehicle which owns 99.99% of Chonburi Clean Energy (CCE). With this acquisition, Veolia has increased its stake to 66.6% in CCE, a state-of-the-art non-hazardous solid Waste-to-Energy plant located in Thailand’s Eastern Economic Corridor.

In 2024, CCE generated 65,072 MWh of energy, equivalent to the annual electricity consumption of 260,000 households. CCE also avoided 24,294 tons of CO2 emissions. These impressive environmental contributions resulted from CCE’s strong operational performance. In 2024, CCE achieved a remarkable 92% availability rate (8,075 operating hours), surpassing the industry average for WtE plants. This achievement underscores the plant’s efficient design, effective management, and reliability in waste management.

In addition to reinforcing CCE’s position as a market leader in the waste-to-energy sector, Veolia, positioning itself as a leading operator of Waste-To-Energy in Thailand by leveraging its pristine operational track record, aims to expand CCE’s waste-to-energy business into waste-to-resource operations. This initiative will support industrial stakeholders in achieving resource reuse and advancing Thailand’s transition from a linear to a circular economy, thereby reducing waste and pollution. Veolia’s vision fully aligns with Thailand’s Industrial Waste Management framework, the Bio-Circular-Green Model, and the forthcoming Draft Industrial Waste Management Act.

‘This investment demonstrates Veolia’s determination to lead the transformation of waste management in Thailand. With over 170 years of global expertise, we are leveraging our operational excellence to further optimise CCE’s performance, diversify waste streams, and convert waste into valuable resources. This approach is fully aligned with Veolia’s GreenUp strategy – decarbonise, depollute and regenerate – and positions us as a key partner in supporting Thailand’s sustainability objectives and accelerating the transition of its industrial landscape towards a more circular and resilient economy,’ said Jerome Le Borgne, Country Head of Veolia Thailand.

The government’s economic stimulus measures, which are scheduled to be rolled out in the final quarter of this year, are expected to help boost business confidence and increase the demand for loans among small and medium-sized enterprises (SMEs).

Pichit Mitrawong, president of the Small and Medium Enterprise Development Bank of Thailand (SME D Bank), said confidence among SME entrepreneurs in the fourth quarter is expected to rise, while loan demand is likely to double compared to the third quarter.

He cited a joint survey conducted by the bank’s Research and Data Center and Excellent Business Management Co on “SME Entrepreneurs’ Confidence Index toward the Economy and Business in the third quarter of 2025 and Future Outlook,” which covered 500 SME entrepreneurs nationwide, across all industries.

The SME confidence index forecast for the fourth quarter of 2025 indicates a more optimistic business outlook, with the index rising to 80.6 compared to 67.1 in this year’s third quarter. This was driven by expectations of higher sales, supported by anticipated government policies to stimulate economic recovery, encourage investment, and promote business expansion, especially among SMEs.

Tourism confidence is likely to continue to grow with the arrival of high season, which will help boost domestic and international tourist spending.

Additionally, the SME confidence index for the fourth quarter of 2025 improved across all regions. The western region recorded the highest level at 90.0, followed by Bangkok and the metropolitan area at 86.9, and the northeastern region at 81.8. The index also increased across all business sectors, particularly tourism services, manufacturing, and construction, reflecting optimism about economic recovery towards the end of 2025.

In the third quarter of 2025, the SME confidence index stood at 67.1, up from 57.3 in the second quarter, supported by the “Tiew Thai Khon La Khrueng” co-payment scheme, which boosted orders, services, and business performance. The micro-enterprise group saw the greatest increase in confidence, benefiting from stronger domestic purchasing power and more widespread income distribution, aligning with tourism services which stood out as the strongest sector.

However, many entrepreneurs still expressed concern about the influx of cheap products from China, Vietnam and India, which threatens their business by taking market share and forces them to cut prices to stay competitive.

For the fourth quarter of 2025, SME loan demand is expected to rise compared to the previous quarter, both for working capital and investment purposes. Together, these account for over 42.2% of loan demand, up from 21.2% in the previous quarter. Tourism businesses in particular showed the highest increase in loan demand, reflecting their readiness to capture the opportunities of the high season, with micro-enterprises also showing rising demand for credit.

Mr Pichit added that in response to this demand, SME D Bank is prepared to provide support by offering loan products in line with government policies for all SME groups, especially tourism.

These loans will support investment, expansion, and improvement projects to meet the needs of the high season, enabling businesses to deliver products and services effectively to both Thai and foreign tourists. The bank will offer these loans at a special fixed low annual interest rate of 3% for the first three years.

The Government Pharmaceutical Organization (GPO) has officially launched its new GPO Metro Sky initiative, opening pharmacies at 14 BTS Skytrain stations in Bangkok to provide commuters with convenient access to quality health services and essential medications.

Dr Mingkwan Suphannaphong, managing director of the state enterprise, said the project aims to promote preventive care and reduce minor illnesses by integrating health services into daily city life.

The pharmacies will offer a full range of medications, medical supplies, herbal products and health items, all meeting the standards of the Pharmacy Council of Thailand.

The 14 BTS stations are: Chidlom, Asok, Phrom Phong, Sala Daeng, Chong Nonsi, On Nut, Ekkamai, Phra Khanong, Surasak, Saint Louis, Ploenchit, National Stadium, Mo Chit and Ari.

Services began on Tuesday. Each location is staffed by licensed pharmacists who provide consultations, medication management and health advice, supporting Thailand’s primary healthcare policy.

The outlets also participate in the universal coverage scheme, allowing patients with 32 minor symptoms to receive medication free of charge.

To enhance the customer experience, the GPO has introduced a membership system and integrated digital services such as Line OA and telepharmacy, along with dedicated consultation corners. These features allow customers to inquire about medications and receive personalised health guidance.

‘This initiative offers a new alternative for urban residents to access affordable, safe, and high-quality health products without the need to travel to hospitals,’ said Dr Mingkwan. The pharmacies are open daily from 7am to 8pm.

The continued appreciation of the baht against the US dollar, if left unaddressed, could weaken Thailand’s competitiveness in both tourism and exports relative to its regional peers, cautions SCB EIC, the research centre under Siam Commercial Bank (SCB).

Yunyong Thaicharoen, chief economist at EIC, said the baht’s strength is inconsistent with Thailand’s subdued economic fundamentals, warning that the baht may serve as an amplifier of external shocks, hurting export competitiveness and tourism recovery.

Amid the baht’s appreciation, the Vietnamese dong has depreciated by 3.5% against the dollar year-to-date. This divergence is expected to reduce Thailand’s competitiveness in exports and tourism.

“For example, a Chinese tourist visiting Thailand would face prices of goods and services roughly 4% higher than other destinations. If that tourist were to visit Vietnam instead, they would pay about 6% less on average, based on EIC’s simulator,” Mr Yunyong explained.

EIC projects the baht to strengthen further to 31.50-32 to the dollar this month and to 31-32 year-end.

Year-to-date, the baht has appreciated by 7.6% against the dollar — its strongest level in four years and the highest among regional peers.

This has led to the baht’s trade-weighted index to reach its highest level since the 1997 financial crisis.

The appreciation has been driven by both external and domestic factors, especially the weakening US dollar, higher gold exports amid rising global prices, a current account surplus and capital inflows into the bond market.

According to Mr Yunyong, foreign tourist arrivals remain well below last year’s level, but signs of a recovery are emerging. Chinese arrivals are still down year-on-year, though the contraction is narrowing. Returning tourists, however, are spending more cautiously.

Thailand also faces rising competition for Asian tourists, with overlapping target segments across regional peers. EIC maintains its forecast for international tourist arrivals in 2025 at 32.9 million.

In addition, EIC highlights concerns over the rising unemployment rate, particularly among new graduates, reflecting the impact of sluggish business expansion.

The unemployment rate for those aged 15-24 rose to 18.9% in the second quarter of 2025, up from 16.1% in the previous quarter.

Amid weaker economic growth and sluggish business expansion, employment has continued to slow, impacting the labour market. Businesses prefer hiring experienced workers over new graduates in response to the challenging economic conditions.

“AI disruption is another key factor contributing to the rise in youth unemployment, a trend that has become increasingly evident in the United States,” Mr Yunyong said.

Meanwhile, EIC has trimmed its forecast for GDP growth for 2025 to 1.8% from 2.0% previously, and anticipates a potential decline to 1.5% in 2026.

The Department of Lands (DoL) has compiled all court filings related to the Khao Kradong land dispute in Buri Ram province, but the Supreme Court never ruled that the land belonged to the State Railway of Thailand as the SRT lacked ownership rights, said Deputy Interior Minister Songsak Thongsri.

While delivering the new government’s policy statement in parliament yesterday, Mr Songsak stated that three court cases related to the land have concluded, with the DoL having revoked all land title deed applications connected to the land.

These applications were ruled unlawful as there were already residents who held valid title deeds living there, he said.

However, Mr Songsak said that the Supreme Court never ruled that the ownership of the land be transferred to the SRT, adding that the SRT was correct in opposing the issuance of ownership rights.

Regarding measures to revoke title deeds under Section 61 of the Land Code, he noted that such revocations must follow due legal processes, including investigations by officially appointed committees.

According to Mr Songsak, the SRT was asked to define its boundaries clearly, but its failure to do so rendered the revocations impossible.

He also revealed that the previous administration had formed an invalid committee to revoke title deeds for 995 plots of land in Khao Kradong.

However, Mr Songsak said that the committee has not done so despite reminders from him and the then-interior minister, Anutin Charnvirakul, who is now back at the ministry and the prime minister.

Responding to criticism from Prachachat Party MP Tawee Sodsong, who accused the government of trying to undermine the court’s authority, Mr Songsak reiterated that all actions were based strictly on court orders.

Pol Col Tawee claimed that the land had been ruled state property and criticised the government for failing to act decisively, alleging high-level interference and irregular transfers of key officials.

The debate in parliament escalated as Pol Col Tawee connected the issue to Mr Anutin, noting the prime minister’s ties to Buri Ram and implying conflicts of interest. This sparked a flurry of protests from MPs, especially from the Bhumjaithai Party, who argued that Pol Col Tawee’s comments were off-topic.

Pol Col Tawee also criticised the government’s overall direction, calling its policies unrealistic and lacking budgetary support.

He warned against corruption, misuse of legal authority and political interference, stressing the importance of transparency and rule of law.