Panel queries fund in Game Industry Act
According to Wisit Wisitsora-at, permanent digital economy and society (DES) secretary, the committee said existing funds, such as the Digital Fund of the DES Ministry, could be used for the purpose of promoting the game industry.
The ministry shared these opinions for the consideration of the Digital Economy Promotion Agency (depa) which drafted the law.
Mr Wisit said the process of developing the law could be smoother if depa agreed to remove the clause regarding this specific fund.
The law aims to solve various problems in the game industry and support the industry's development through the promotion fund.
The fund has set a target to receive 500 million baht a year from the specific fund and another 500 million baht a year from the Revenue Department.
The specific fund would be operated by the Game Promotion Institute, which would be established in the future by depa.
According to the ministry, the law is aimed at covering all dimensions of the digital game business and services.
Games, especially online games, have generated concern among public and related agencies over the possibility that their content may fall into the category of gambling activities.
Therefore, games should be defined and supervised with clear regulations and a registration system that balances monitoring and promoting the game ecosystem.
The games category is more expansive than physical activities carried out at internet cafes, motion pictures or online platforms on both the iOS and Android operating platforms.
The law is to deal with the sophisticated development of the game sector which is currently worth 30-40 billion baht as well as to promote Thailand as a gaming hub in the Southeast Asian region.
Depa president Nuttapon Nimmanphatcharin said the agency expects the value of the Thailand's game industry to reach 100 billion baht within the next 10 years.
However, game exports are currently worth 800 million baht a year, indicating it is another industry that is experiencing a deficit, given that game imports exceed game exports.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bangkok Post
2 hours ago
- Bangkok Post
Cabinet approves 10,000 Sri Lankan workers to replace Cambodians
Thailand's cabinet has approved the hiring of 10,000 Sri Lankan workers as it tries to address a labour shortage caused by Cambodian workers returning home in the wake of a deadly border conflict between the two countries, a Thai senior official said on Tuesday. Thailand's ageing population and shrinking workforce has forced it to rely on at least 3 million registered foreign labourers across the agriculture, construction, and manufacturing sectors, data from the International Labour Organisation (ILO) showed. More than 30,000 workers from Sri Lanka have already registered and 10,000 will be sent to Thailand in the first stage, Labour Minister Pongkawin Jungrungruangkit told reporters, adding that it would also allow workers from Nepal, Bangladesh, Indonesia and the Philippines to apply. A long border dispute between Thailand and Cambodia last month boiled over into the worst fighting in decades, with at least 43 people killed and over 300,000 displaced on both sides of the border. The two Southeast Asian nations have now agreed a fragile ceasefire agreement. Before the conflict began, over 520,000 Cambodians worked in Thailand, accounting for 12% of the country's foreign workforce, according to official data. About 400,000 Cambodians working in Thailand have left the country during the fighting, according to the Cambodian government. Sri Lanka, which has emerged as a key source of replacement labour, saw a record 314,786 citizens leave for overseas employment in 2024, official data showed, with economic hardship pushing many to look for work overseas. The Middle East was the primary destination, and many also sought jobs in South Korea and Japan. Sri Lankan migrant workers are the largest source of foreign exchange for the South Asian island nation. However, a Thai labour expert warned that the plan to bring in unskilled workers from Sri Lanka is not the right solution to the exodus of Cambodian labourers and it will backfire on Thailand in the long run.
Bangkok Post
7 hours ago
- Bangkok Post
Thai markets to stay volatile for rest of year
Bualuang Securities (BLS) expects Thailand's stock market to remain volatile in the second half of 2025 as domestic and external headwinds continue to weigh on sentiment, though a recovery is possible in the final quarter that could lift the Thai index to 1,280 points by year-end. The Stock Exchange of Thailand (SET) index contracted by 10.1% during the first seven months of the year as investors reacted to political uncertainty, weak domestic demand, and concerns over global growth, said Chaiyaporn Nompitakcharoen, managing director for the non-institutional broking group at BLS. The outlook for the second half remains clouded by several challenges, including US import tariffs, high household debt levels, sluggish global activity, and the limited impact of government stimulus measures due to unstable political conditions, said Mr Chaiyaporn. Reflecting these risks, BLS downgraded its 2025 earnings-per-share forecast for Thai listed companies from 92 baht to 82 baht, following weaker first-half financial results than projected. Thai equities have already corrected to levels comparable with past crises, including the Lehman Brothers collapse and the 1997 Asian financial crisis, while they are below Covid-19 lows, suggesting limited downside, noted the brokerage. However, the possibility of the SET index falling back to a range of 1,050-1,080 is considered unlikely. "BLS expects the economy to bottom out in the third quarter before showing signs of recovery in the fourth, assuming political tensions do not escalate and US tariffs prove less damaging than initially feared," said Mr Chaiyaporn. With US import tariffs for Thai goods similar to its Southeast Asian peers, the impact "is manageable", he said. BLS projects the SET index could gradually climb back to 1,280 points by December, based on 6.6% earnings growth and an average price-to-earnings ratio of 15.7 times. The firm recommends investors take advantage of pullbacks to accumulate shares, with a focus on global play sectors such as petrochemicals, electronics, and animal feed producers, which are trading at attractive valuations and are better positioned to benefit from external demand. In contrast, domestic play stocks remain under pressure from weak local consumption, with the hardest-hit industries real estate, construction, hire-purchase finance, personal loans and media. Banks, convenience stores, hospitals and tourism are expected to face only moderate headwinds, according to BLS. On the external front, Mr Chaiyaporn said the US economy could slow if import tariffs fuel inflation, a scenario that may prompt the Federal Reserve to cut interest rates by 50 basis points in one or two moves in the second half of the year, followed by possible further easing in 2026. Meanwhile, the Bank of Thailand is expected to lower its policy rate once more in the second half of 2025 and again in 2026, consistent with low domestic inflation near 1%. BLS strategist Piriyapon Kongvanich advised investors to overweight fixed income at 56% of the portfolio, significantly above the typical 20%, to capture benefits from the expected rate-cutting cycle and to reduce portfolio volatility. The remainder should comprise equities and gold, with the latter at less than 10% and stock exposure diversified across both Thai and US markets, according to the brokerage. For investors seeking overseas opportunities, BLS pointed to depositary receipts as an attractive alternative.
Bangkok Post
21 hours ago
- Bangkok Post
Vietnam touts $48 billion in project investments to spur growth
HANOI — Vietnam on Tuesday said around 250 projects, with investments totalling about US$48 billion, are being pursued in the country as the government seeks to show it is boosting economic growth. The state is funding 129 projects ranging from urban development to transportation with a total investment of about 478 trillion dong ($18 billion), according to a statement on the government's website. Another roughly $30.5 billion in investments for 121 projects financed by other sources, including from a handful of foreign companies, are simultaneously getting underway, it said. The new ventures include the Rach Mieu 2 Bridge in the Mekong Delta, the Saigon Marina International Financial Centre, state-owned Viettel Group's Research and Development Centre and the Vingroup JSC-developed National Exhibition and Convention Centre in Hanoi. The investments are estimated to be equivalent to about 13% of the country's gross domestic product (GDP), Prime Minister Pham Minh Chinh said, speaking in Hanoi. The projects will transform the 'state of our country's strategic infrastructure,' Chinh said. The Southeast Asian nation has been stepping up a drive to achieve its GDP growth target of at least 8% this year despite global uncertainties and the government's ongoing efforts to work out the details of a US trade deal that will see a 20% tariff imposed on Vietnamese goods. Premier Chinh last month urged officials to come up with immediate and long-term measures to restructure the economy and support growth. Chinh aims for GDP expansion of 8.3% to 8.5% this year.
