KASIKORNBANK Strategic Acquisition

K KASIKORNTHAI Government Policy: Long-term Policies ■ 20-Year National Strategy: To achieve the vision "Security, Prosperity, Sustainability," to become a high-income country, to improve quality of life, to generate high income, to escape the middle-income trap, and to ensure well-being for all Thais (Page 128) ■ Transport Infrastructure Development Plan: > Project will reduce logistical costs, increase transportation speed of goods and people, as well as connect Thailand to neighbors along the East-West and North-South Economic Corridors > Public Transport Infrastructure Investment 2015 to 2022: worth Bt2.59trn (Page 132) ■ Eastern Economic Corridor (EEC): Area for facilitating and attracting investment in 10 innovative target industries to transform Thailand into Thailand 4.0 (Page 136) ■ Digital Economy: ➤ NBTC awarded mobile licenses in various spectrums and launched 5G ➤ Government plans to adapt National Digital ID to speed up the process towards digital economy ■ BOI Measures for Supporting Private Investment: Tax and non-tax incentive measures to support private investment, such as Special Economic Zones (SEZS) (10 provinces, including Tak, Mukdahan, Sa Kaeo, Songkhla, Trat, Chiang Rai, Kanchanaburi, Nong Khai, Nakhon Phanom, and Narathiwat) ■Ten targeted industries as new engines of growth: Next Generation Automotive, Smart Electronics, Affluent Medical and Wellness Tourism, Agriculture and Biotechnology, and Food for the Future; New S-Curve (for new growth) consists of Robotics, Aviation and Logistics, Biofuels and Biochemicals, Digital, and Medical Hub ■Additional Incentives: Biotechnology, Nanotechnology, Advanced Materials Technology, and Digital Technology ธนาคารกสิกรไทย 开泰银行 KASIKORNBANK ■ Promote Establishment of International Headquarters (IHQ) and an International Trading Center (ITC) in Thailand: Help Thailand become a key trading nation in the region ■ ASEAN Economic Community (AEC): Since December 2015, ASEAN has transformed into the "ASEAN Economic Community," with free movement of goods, services, investment, and skilled labour, and a freer flow of capital; Strategic measures under the five characteristics in the AEC Blueprint 2025 will be operationalised through sectoral work plans and their implementation and monitored through the AEC 2025 Monitoring and Evaluation Framework ■Free Trade Area: Already signed FTA with ASEAN+3 (China, Japan, and Korea), India, Australia, New Zealand, Peru, Chile; In progress with Canada, European Union (EU), the Regional Comprehensive Economic Partnership (RCEP), and Comprehensive and Progressive Agreement of Trans-Pacific Partnership (CPATP) ■ Age Society: Mandatory retirement age for government and state enterprise officials will be extended from 60 to 63, effective in 2024 ■ Energy Policy: Reform petroleum concessions and energy price structures, including an LPG subsidy ■Tax Reform: Reform tax collection, generate sufficient revenue for the government, and boost competitiveness for local businesses, especially SMEs ■Constitution: National assembly seeks to amend the constitution section- by-section บริการทุกระดับประทับใจ Sources: Newspaper and KResearch (as of April 2021) 145 K KASIKORNTHAI Government Policy: Short-term Policies ■Government Budget: ➤ Fiscal budget deficit in FY2021: plans for Bt609bn deficit to provide additional supports to Thai economy amid COVID-19 outbreak ■Relief Measures for COVID-19 Impacts: Helping financial market stability and liquidity, and business, work force, and individuals through soft loan programs and relief measures ■Short-term Stimuli: ➤ Welfare Card: Give Bt200-300 a month to each welfare smart card (14.5 million people) for purchase of necessary goods for those earning less than Bt100,000 annually; give Bt500 wallets to help with transportation costs Thailand Plus Package: attract foreign investment, especially to expedite investments from companies seeking to relocate as a result of ongoing trade war ➤ Cash handout for workers not covered by SSF: Bt5,000 monthly payments for 3 months to informal workers affected by COVID-19 (April - June 2020) ➤ Supporting tourism: Subsidies for domestic tourists (Moral Support & We Travel Together campaigns) (July 2020 to April 2021); "Special Tourist Visa" for long- staying visitors (90-day stay in country, which can be extended twice, each for an additional 90 days. Visa costs Bt2,000 per 90-day extension) Property stimulus package: Property transfer fees reduced from 2% to 0.01% and mortgage fees reduced from 1.0% to 0.01% for buying condominium units priced at not over Bt3mn (Jan - Dec 2022) ➤ Measures to help farmers: Price insurance for agricultural plants such as rice, rubber, oil palm, cassava, and corn (Bt98bn for 2022 government budget) ■Short-term Stimuli (continue): ธนาคารกสิกรไทย 开泰银行 KASIKORN BANK ➤ Projects to boost domestic consumption: 1) "Half-Half" scheme: a co-payment for food and general products subsidizing half of the purchase price - Phase 1&2: Bt3,500 to 15 million people (October 2020 - March 2021) - Phase 3: Bt4,500 to 31 million people (July - December 2021) - Phase 4: Bt1,200 to 29 million people (March-April 2022) 2) Shop Dee Mee Kuen - a tax deduction for spending, up to Bt30,000 (1 January 15 Feb 2022) Projects to boost travel: 1) We travel together: 40% of hotel expenses, or up to Bt3,000 per room per night and food coupons of up to Bt600 a day 2)Tour travel Thai campaigns: 40% of the tour package price, or up to Bt5,000 per person ➤ Measures to help people with rising living costs. (May - July 2022) 1) State welfare cardholders: Bt100 subsidy for cooking gas 2) Vendors with state welfare cards: Bt100 subsidy for cooking gas 3) Motorcycle/ Taxi riders (registered with Department of Land Transport): Bt250 baht subsidy on gasohol per month 4) Section 33: reducing contributions to the Social Security Fund under Section 33 from 5 % to 1%, Section 39 from Bt432 to Bt91 per month, and Section 40 from Bt300 to Bt180 per month Sources: Newspaper and KResearch (as of May 2022) บริการทุกระดับประทับใจ 146

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