Page 11 - Bullion World Volume 4 Issue 7 January 2024_Neat
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Bullion World | Volume 4 | Issue 7 | July 2024




































                    Mr Nuttapong (Golf) Hirunyasiri                    Ms Souphaphone Sounannavong


           Mr Nuttapong (Golf) Hirunyasiri, Managing Director,   Ms Souphaphone Sounannavong,  Interim CEO,
           MTS Gold Group – Thailand provided a comprehensive   Pacific Bullion Import-Export Co Ltd - Laos- highlighted
           overview of Thailand's gold market dynamics from 2020   the company's focus on strategic investments to
           to 2024. He highlighted significant trends such as the   transform Laos' economy, emphasizing sectors
           fluctuation of gold prices driven by global and domestic   like trading and distribution of consumer goods,
           factors, including inflation hedging and currency   manufacturing lighting and electronics, logistics, fuel
           strength.                                          trading, and integrated infrastructure. She discussed
                                                              the gold market in Laos, noting its position as the third-
           Mr Hirunyasiri noted the record-high Thai gold prices   largest gold producer in Southeast Asia, with annual
           in recent years, reaching 42,000 baht per unit in April   production of 9-12 tonnes.
           2024. He also outlined Thailand's robust investment
           infrastructure, including numerous wholesale and retail   The growing demand for gold due to economic and
           shops, multiple gold funds, and substantial annual   currency instability presents significant opportunities,
           physical transactions. Emphasizing sustainability and   although challenges such as inadequate infrastructure
           innovation. Industry's shift towards responsible practices   and limited access to investment products persist. Ms
           and the adoption of digital technologies for gold trading,   Sounannavong outlined a vision to establish the Bullion
           underscoring Thailand's leadership in Southeast Asia   Bank of Laos, implement Dore bar certification, and
           featured as a part of the speech.                  position Laos as a regional hub for gold, aiming to bridge
                                                              the gap between Lao and international markets and drive
                                                              domestic financial innovation.





           Would ASEAN gold market become a bigger market  Will it be more advantageous for further market
           than India and Indonesia in the next 5 years ?     development if the tax structure on gold product
           Well the number of people residing in India especially are   movement is harmonized in ASEAN?
           far more compared to that of the ASEAN region hence it   Yes
           would be difficult to outgrow the markets in India. But the   There are 10 countries in ASEAN and all the 10 countries
           ASEAN gold market can collaborate with the markets in   have the same regime on gold product flow some
           India and Indonesia through Singapore.             country like Singapore free movement and Malaysia has
                                                              a free movement but some countries are restricted.



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