Thai Economy News

Central Food Retail Co (CFR), the operator of the Tops supermarket chain, will speed up expansion of Tops Daily stores and renovate its Tops Supermarket outlets.

Land appraisal prices in Bangkok will rise 15-30% on average in the next revision to take effect next year while condominium valuations will rise 15%, according to the Treasury department.

Land appraisal prices and condominium valuations in Bangkok are expected to increase in 2012, with growth driven by infrastructure improvements and the expansion of mass transit systems, particularly in prime areas such as Sathorn, Sukhumvit, and Ratchadamri.

The French Embassy in Bangkok has sold its property holdings on South Sathorn Road to City Virtue Limited, as the French government is moving all Embassy operations to a new facility .

The Thai Consumer Confidence Index (CCI) surged to 81.7 points in June, the highest in four and a half years, with consumers expecting the new government's policies to result in better economic conditions.

Economists are advising the new government to focus more on income distribution, as it is an efficient way to strengthen the country's economic fundamentals.

In a move aimed at increasing traffic Thailand's Department of Civil Aviation has created a one year waiver of landing fees for a number of tertiary airports in the country.

The Tourism Ministry has prepared a five-year tourism development plan aimed at receiving 30 million tourists and Bt1 trillion revenue per year.

Property developers believe the new government's policies offering special financial packages for first-home buyers will create growth in the property market, but they are waiting to see what conditions might be imposed with the new deal.

Exporters are uncomfortable with the prospect of a strengthening baht, as they want a stable exchange rate to help them keep pace amid tough global competition