On October 2, 2019, Mr. Uttama Savanayana, the Minister of Finance, revealed the progress of the second phase of the 'Chim Shop Chai' project, stating that the Fiscal Policy Office (FPO) is currently evaluating the ongoing project. A conclusion is expected within this month regarding the implementation strategy for Phase 2. However, details on whether an additional budget of 1,000 baht will be provided to the existing 10 million registrants or if new registrations will be opened have not yet been finalized.

          "The 'Chim Shop Chai' measure is part of efforts to stimulate the economy, which has been affected by the global trade war, causing issues for Thailand's exports, a key driver of the economy. This measure, along with other initiatives such as support for agricultural production costs, has already disbursed 20 billion baht out of a total budget of 40 billion baht, and the fund to assist SMEs has also begun disbursing 10 billion baht. This aims to build consumer confidence, and the Ministry of Finance hopes that the economy will grow by 3% this year," Mr. Uttama stated.

          Mr. Lawaron Saengsanit, Director of the Fiscal Policy Office, revealed that approximately 60 billion baht is expected to flow into the economy from the 'Chim Shop Chai' project, with 19 billion baht subsidized by the government. The remainder will come from consumer spending in their wallets to claim a 15% cashback, with an estimated 3 million users expected to participate, averaging 13,500 baht per person. This is anticipated to stimulate economic growth by an additional 0.2-0.3% this year, contributing to the target of 3%. The project is a long-term initiative ending on November 30, and the spending of 300 million baht in the first three days is not insignificant as it is gradually utilized.

          Regarding the Joint Private Sector Committee's (JCC) adjustment of the GDP forecast for 2019 down to 2.7%, this aligns with other agencies predicting Thailand's GDP growth at around 2.8%. The effects of the 'Chim Shop Chai' measures are expected to start impacting the economy from October to November, and it is believed that the positive response to these measures will provide sufficient motivation. The Ministry of Finance remains hopeful that this year's GDP will meet the 3% target.

          Additionally, coordination has been made with Krung Thai Bank to improve the identity verification system, which is expected to take 1-2 days, making the photo identification process for the 'Chim Shop Chai' initiative more convenient. This comes after issues arose where many participants failed to pass the photo verification multiple times. The assessment indicated that the problem was not with the images themselves but rather the lighting conditions. Measures have been taken to ensure better control of image brightness to facilitate easier scanning.

          "Newer phone models that produce very beautiful photos or applications that enhance images can cause discrepancies with ID cards, leading to many failed submissions. I have instructed improvements to be completed within 1-2 days," Mr. Lawaron said.

          Mr. Lawaron further confirmed that the 'Chim Shop Chai' measures do not favor large businesses. In the first five days, spending totaled 628 million baht, with only 142 million baht or 22% spent at large department stores. In the first week, 5.5 million people registered for 'Chim Shop Chai', with 4.7 million receiving SMS confirmations. There are still 800,000 SMS confirmations pending. Among the 4.7 million, 2.7 million have downloaded the 'Pao Tang' application, while 820,000 have not taken any action, and 1.1 million are in the process of scanning their photos for verification.

          "I confirm that the 'Chim Shop Chai' measures do not favor large businesses. Of the 628 million baht spent, only 20% was used at large stores, while most spending occurred at community shops. This is a result of the system design allowing one operator to open 20 payment points, encouraging people to utilize their rights at smaller shops," Mr. Lawaron stated.

          The Ministry of Finance will continue to allow citizens to register for the 1,000 baht benefit from the 'Chim Shop Chai' initiative after the initial 10-day registration period (September 23 - October 2, 2019) for 10 million people. However, it was found that many applicants did not meet the qualifications, averaging 200,000 per day, or about 2 million people. Therefore, an additional 1 million people will be accepted daily until the target of 10 million is reached, in accordance with the timeline for the initiative, which ends on November 15, 2019.

          Nevertheless, the target number of 10 million users is based on a clearly defined demographic of middle-class working-age individuals, which exceeds 10 million. Other groups, such as the 14.5 million welfare cardholders, 15 million farmers with existing compensation measures, 13 million individuals under 18, and 13 million seniors aged 70-80, are not the direct targets of this initiative due to participation limitations. However, it has been noted that citizens from all demographics are showing significant interest in the program, with reports of individuals over 100 years old registering for the 'Chim Shop Chai' initiative.

          Mr. Thangkrith Wangboonkhongchan, Secretary to the Minister of Finance, commented on the 'Chim Shop Chai' economic stimulus measure, stating that it has received a positive response from the public. Any minor issues have been addressed by the relevant agencies. Following field inspections, everything appears to be in order. On Friday, October 4, Mr. Uttama will visit Rayong to monitor the 'Chim Shop Chai' initiative.

          He also expressed confusion over why leaders of the Pheu Thai Party, including Khunying Sudarat Keyuraphan, the party's strategy chair, Mr. Jirayu Huangsap, the party's deputy secretary-general, and Mr. Anusorn Iamsa-ard, the party's spokesperson, have criticized the initiative as ineffective and beneficial only to the wealthy, despite the evident benefits to the public. This sentiment echoes that of Prime Minister General Prayuth Chan-o-cha, who noted that the opposition tends to oppose any government measures that receive positive public feedback.

          "It is disheartening to see such a mindset. Importantly, the government is not squandering the budget as the opposition has in the past with projects like the rice pledging scheme and the affordable housing program. I assure you that this government will do everything for the benefit of all Thai people and will not act in favor of wealthy interests," Mr. Thangkrith stated.

          Mr. Chankrit Dechawitthak, Assistant Minister to the Prime Minister (working at the Ministry of Finance), revealed that the '100 Baht for Travel Across Thailand' measure has simpler procedures than the 'Chim Shop Chai' initiative, aiming to build on the momentum of the 'Chim Shop Chai' project, encouraging citizens to utilize their travel rights. This will help distribute funds to provinces and promote tourism. Additionally, there is a 'Shock Price' weekday travel measure targeting six groups, including the elderly, women, and new graduates, who may have more flexibility to travel on weekdays.

          "We recommend those registered for 'Chim Shop Chai' prepare to register through the official LINE account of the Tourism Authority of Thailand (TAT), which has prepared 40,000 packages aimed at the digital generation, targeting Generation X-Y or middle-income earners. If those registered for 'Chim Shop Chai' are interested in the government's promotions, it will lead to a distribution of funds into both major and minor tourist cities, positively impacting the related tourism industry. It is expected to generate multiple rounds of economic circulation and improve the economy by the end of the year," Mr. Chankrit stated.

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