Summary of AMCHAM Business Today Video Conference for April 8
Cabinet Resolutions
- The cabinet has given the pass for their third stimulus package of 1.9 trillion baht to protect the people and businesses from the effects of Covid-19. This package is backed by 3 executive decrees:
- First decree: Government will borrow 1 trillion baht from May to September next year, directed toward the 5000-baht monthly handouts for 6 months, projects to scale employment and the upcoming financial aid for farmers.
- Second decree: BOT will extend 500 billion-baht soft loans with 2% interest rate to SMEs, in line with other attractive options from banks and financial institutions.
- Third decree: A redistribution of 3.2 trillion-baht budget has been sent for approval, in preparation for when Parliament reopens in June.
- CAAT has decided to extend the ban on all commercial flights into Thailand until April 18.
- Customs Department has declared the transport of goods, both import and export can still flow nationwide through Thai borders assuming it complies with the law. Hotline: 1164
- Bad news for parents in isolation with their children, Thai schools will not reopen until July 1.
Stimulus Package
- AMCHAM members have expressed disappointment with the lack of clarity on the 62% daily wage financial assistance after Tuesday’s resolutions unfolded.
- The one thing clear is that people are losing jobs and are pressured to go on leave without pay because of this virus.
- A major case is with a member whose employees have lost their jobs since the premises of the company they are contracted to are forced to close by the government closure declarations.
Distance Learning
- Schools have been reaching out to parents with kids who are doing remote learning at home to see how they are managing the sudden transition. They are also asking for feedback from parents who are now directly overseeing the education of their children.
- They believe it could be a chance for schools to start marketing beyond their community with structured training contents, but also allowing students to take control of their own learning.
- Since e-learning is already a challenge for parents to deal with, PE has consequently become a throwaway. Parents suggested schools to introduce fun physical activities that could be done in a limited space, where they and their kids could work out together, instead of having them staring at a screen for the whole time.
- A company in the sports media industry has been cut short on their live events, thus they are redirecting all their content creations into their social medias such as having experts and athletes host live training to their fans that are stuck at home.
Mask Supplies
- With the implementation of mask being mandatory in some areas in Bangkok and some companies with employees in high risk areas, the question of where to procure reliable surgical masks rolls up once more.
- Some members mentioned supplies are coming from China and Japan, even with the help of fast-track from the FDA.
- Moreover, a firm in the safety and healthcare industry is pushing to replenish their supplies and distributing it at regular price, while making frequent donations to healthcare institutions.
Action Points
- Discuss with AMCHAM Government Affairs Council to propose a digital extension of Thai work visa to encourage social distancing.
- For member companies offering support to the local Thai community against Covid-19, whether in cash, time or any other resources, AMCHAM would like to ensure that your efforts and generosity does not go unnoticed, please reach out to us at kittie@amchamthailand.com.
