Economy News
Thailand economy news, business updates, financial markets, and government policies—stay informed on economic developments shaping the nation. Get the latest from The Thaiger, your trusted source for Thailand economic news.
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Thai industry calls for retention of current power tariff amid hike fears
The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) is urging the Thai government to retain the current power tariff of 3.99 baht per kilowatt-hour. The request comes amid concerns that a proposed hike to 4.68 baht could escalate operational costs for manufacturers, leading to a 5 to 10% increase in product prices. The Energy Regulatory Commission previously suggested…
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Thailand’s clean air bill targets PM2.5 dust menace
Thailand’s Cabinet has given preliminary approval to the Clean Air Bill, a bold initiative designed to combat the annual scourge of PM2.5 ultra-fine dust. This is a major move that gives authorities the necessary tools to manage sources of air pollutants effectively, particularly the minuscule dust particles that become a significant issue in the country each cool season. The Clean…
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UNESCO recognises Songkran festival as Intangible Cultural Heritage
Thursday witnessed a series of events commemorating the Songkran Festival’s recent recognition as an Intangible Cultural Heritage by the United Nations Educational, Scientific and Cultural Organisation (UNESCO). The official declaration was made yesterday during UNESCO’s Intergovernmental Committee meeting for Safeguarding Intangible Cultural Heritage held in Botswana. The Culture Ministry’s application for the inclusion of the Songkran Festival was approved by…
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High depreciation of EVs raises loan concerns says National Credit Bureau
The National Credit Bureau (NCB) raised concerns about the high depreciation rates of electric vehicles (EVs) and the associated loan risks. As the popularity of EVs, particularly Chinese brands, continues to rise, so does the volume of loans attributed to their purchase. However, EVs depreciate faster than traditional internal combustion engine (ICE) cars, which has heightened the risk for auto…
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Cable car project causes concerns of potential overcrowding at Phu Kradueng
Concerns have been voiced by the Seub Nakhasathien Foundation over potential overcrowding at Phu Kradueng National Park in Loei, as a result of plans to revive a long-debated cable car project. The foundation, while assured that modern construction techniques can minimise environmental and wildlife disruption, is apprehensive about the park’s capacity to handle an influx of tourists. Ornyupa Sangkamarn, the…
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Drastic drop in Thai gold prices today following recent surge
Gold prices in Thailand have plummeted drastically today following a continuous surge, according to the Gold Traders Association. The price of gold ornaments fell by 250 baht compared to the last price yesterday, selling at 34,450 baht per baht-weight. The buying price of gold bars in the country stands at 33,850 baht per baht-weight and the selling price is 33,950…
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Thai road safety groups challenge extended bar hours over drink-driving fears
Alcohol temperance and road safety groups are challenging the new government decision to allow late-night bars and clubs in major Thai cities to extend opening hours until 4am. The critics argue that the authorities failed to make necessary arrangements to avert potential alcohol-related mishaps. This protest follows an announcement made by the Interior Ministry nearly a week ago, permitting bars…
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BCPG to divest its nine solar farms in Japan for strategic reinvestment
BCPG Plc, Bangchak Group’s power generation subsidiary, is planning to divest all its nine solar farms in Japan, in a strategic move to revamp its long-term investment in renewable energy. The assets on sale include equity worth 6.93 billion baht and net debt totalling 3.44 billion baht. The company has entered into an asset purchase agreement with Danish renewable energy…
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Thai PM plans revision of 5.1 billion baht for national art and culture
Prime Minister Srettha Thavisin yesterday announced plans to revise the substantial sum of 5.1 billion baht (US$145 million), originally designated for the promotion initiatives of national art and culture by the National Soft Power Development Committee (NSPDC). The Thai prime minister expressed the need for judicious use of the funds to maximise efficacy. PM Srettha’s statements followed the NSPDC’s second…
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Thailand poised to become regional hub for electric vehicle production
Thailand is stepping into the spotlight as a potential regional centre for Electric Vehicle (EV) manufacturing, bolstered by Prime Minister Srettha Thavisin‘s confidence and support. This sentiment was shared with the public on December 1 by the Government Spokesperson, Chai Watcharong. PM Srettha has reportedly been working closely with various agencies to encourage and aid international private entities, particularly those…
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Beefy business gone bad: Police probe 75 tonnes of rotten meat at local markets
An investigation into the sale of approximately 75 tonnes of rotting beef at local markets has been requested of the police. This action has been prompted by Atchariya Ruangratanapong, a crime probe activist, who has called on the Central Investigation Bureau to take legal steps against two shipping firms and five senior officials from the Livestock Development Department. It is…
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Thailand considering month-long Songkran Festival to boost economy
The National Soft Power Development Committee in Thailand is proposing to extend the Songkran Festival for the entire month of April. Traditionally held from April 13-15, the water-splashing festivities are a cornerstone of the celebration. The committee hopes that by extending the festival and incorporating a range of other cultural events across the country, the festival could be promoted to…
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Overwhelmed businesswoman registers for Thai government’s debt relief scheme
A businesswoman, burdened with an overwhelming debt, registered for an out-of-system debt relief scheme. She owes money to 14 lenders and faces the daily challenge of finding more than 7,000 baht for interest payments at a rate of 20%. This move comes after the government, under Prime Minister Srettha Thavisin, has been focusing on resolving out-of-system debt issues for citizens…
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House committee formulates 2024 budget proposal
The House committee responsible for scrutinising planning and monitoring budget expenditure is formulating a budget proposal for next year. The proposal is expected to be reviewed by the House in early January. Natthapong Ruangpanyawut, the committee’s chair and a list MP of the Move Forward Party, confirmed that the panel is currently processing budget requests from various state agencies. These…
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Thai Commerce Ministry plans new year mega sale
The Thai Commerce Ministry has unveiled plans for a new year mega sale, an extensive retail event, to alleviate living costs for the local population. The sale, which is being presented as a new year’s gift to the citizens, is set to take place at Muang Thong Thani from December 20 to December 24. The Commerce Minister, Phumtham Wechayachai, reported…
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Hong Kong and Thailand join FPS with PromptPay, unlocking cross-border QR payment linkage
In a move set to redefine international payments, Hong Kong‘s Faster Payment System (FPS) joined hands with Thailand‘s PromptPay, unlocking a seamless cross-border QR payment linkage. Hong Kong and Thailand have unleashed a financial revolution, enabling residents to flex their digital wallets across borders. The cross-border QR payment linkage between Hong Kong’s FPS and Thailand’s PromptPay is set to transform…
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Thai government invites citizens to register debts for resolution
The Thai government is inviting citizens to register their debts, both within and outside the formal system, to alleviate the burden of unregulated debt. This move by Prime Minister Settha Thaweesin and the Ministry of Finance is seen as a national issue, aiming to restore dignity, hope, and stability to Thai citizens suffering from the detrimental effects of unregulated debt.…
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Thai Prime Minister to review proposed energy tariff increase
Srettha Thavisin, the Thai Prime Minister, is set to convene a meeting with the relevant bodies following the revelation that the Energy Regulatory Commission (ERC) intends to surge the energy tariff from 3.99 baht per unit to 4.68 baht per unit from January to April next year. This proposed increase has stirred renewed demands for a revamp of the nation’s…
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Thai Ministry of Interior launches online registration for debt assistance
The Ministry of Interior has initiated a programme to assist citizens struggling with off-system debt, inviting them to enrol either online or in-person from today, December 1, until February 24 next year. This scheme is part of the government’s efforts to alleviate the impact of high-interest-rate debts on the populace. For online registration, individuals can visit the website https://debt.dopa.go.th. The…
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