Market bullish on inoculation drive

Market bullish on inoculation drive

Firms seek further clarity from the state

Publicly listed Thai companies have reportedly expressed optimism in the government's Covid-19 vaccine management plan to distribute at least 63 million doses to people by the end of this year.

However, these companies are also calling on the government to clearly explain its management policy.

Paiboon Nalinthrangkurn, chairman of the Federation of Thai Capital Market Organizations, on Monday said the companies would like to determine whether the government's plan is good enough to recover the country's economic losses caused by the global Covid-19 pandemic.

Mr Paiboon said he believes an explanation from Anutin Charnvirakul, deputy prime minister and public health minister, could boost the confidence of investors.

"We are more comfortable to open the country because everything seems to be in line with the plan," Mr Paiboon said. "The government's policy on the vaccine [rollout plan] is in line with our thoughts."

"Vaccination is key to opening the country," he added. "What we are concerned with now is whether the government can implement it perfectly along with the [reopening] plan."

Mr Paiboon went on to say that investors are now becoming more confident in the stock market due to the government's measures against the Covid-19 outbreak.

He said that the stock market has already jumped to 1,580 points since the beginning of the pandemic, noting that this shows investors are more confident in the kingdom's post Covid-19 economic growth.

Mr Paiboon also expressed his confidence that the travel business would recover by next year, which he said would good for the country as it depends on the tourism industry.

The kingdom's success in developing herd immunity by the end of this year or early next year would help strengthen the possibility of fully reopening the country in the near future, he said.

According to the health ministry, the government's public inoculation plan began in late February with the distribution of 200,000 doses of China's Sinovac vaccine and 100,000 doses of the AstraZeneca vaccine.

This month, the ministry reportedly rolled out 800,000 more Sinovac jabs while it plans to roll out one million more next month and five million more in May.

Meanwhile, Siam Bioscience is expected to provide the ministry with five to 10 million doses starting in June.

In other news, Mr Anutin, who delivered a speech to investors at the headquarters of the Stock Exchange of Thailand (SET) on Monday, said the ministry has adjusted a plan to distribute more vaccines to people working in the tourism industry.

The government is currently preparing to a quarantine-free policy for inoculated foreign tourists visiting select destinations.

Phuket is reportedly launching a pilot scheme for the programme on July 1.

"We are going to allocate 100,000 doses for Phuket and 50,000 doses for Samui island in Surat Thani province after getting 800,000 Sinovac doses this month," Mr Anutin said.

"People living there must be 100% vaccinated to ensure the safety of tourists," he added.

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