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  • Thai economy boost: Bank forecasts GDP growth, increased tourism

    Thai economy boost: Bank forecasts GDP growth, increased tourism

    Anticipating a stronger Thai economy, the Bank of Thailand has expressed confidence that GDP growth will surpass their expectations. This is attributed to the economic strategies implemented by the new government, combined with progress in the tourism and consumption sectors. In a recent meeting, the Monetary Policy Committee (MPC) of the central bank stated that they foresee continuous growth in…

  • Thailand tourism eyed by Agoda CEO as business hotspot rivaling Japan, Vietnam

    Thailand tourism eyed by Agoda CEO as business hotspot rivaling Japan, Vietnam

    Agoda, the online travel agency, foresees a bright future for Thailand tourism as the country emerges as a preferred destination for business travellers, potentially rivalling top hotspots like Japan and Vietnam. Ranked second in Agoda’s largest inbound markets between January and May, Thailand’s tourism trails behind Japan in terms of overall popularity. Agoda’s Chief Executive, Omri Morgenshtern, believes Thailand’s potential…

  • Industry blues: Thailand’s TISI takes a double dip, blaming government formation woes

    Industry blues: Thailand’s TISI takes a double dip, blaming government formation woes

    The Thailand Industry Sentiment Index (TISI) suffered another setback after experiencing a decline for the second month in a row, partly due to uncertainties surrounding the formation of a new coalition government. In May, the TISI dropped to 92.5 points from 95 in April. Kriengkrai Thiennukul, chairman of the Federation of Thai Industries (FTI), cited issues in setting up a…

  • Bank of Thailand anticipates slower loan growth: Interest rates not main factor

    Bank of Thailand anticipates slower loan growth: Interest rates not main factor

    The Bank of Thailand anticipates a slower pace of loan growth in the banking industry due to reduced demand, while asserting that rising interest rates are not the main factor impacting loan expansion. The central bank’s soft loan programme, which aimed to aid small and medium-sized enterprises, largely contributed to the increased borrowing during the post-pandemic recovery period. Sakkapop Panyanukul,…

  • Timber regulations tightened, Thailand targets Siamese rosewood exports

    Timber regulations tightened, Thailand targets Siamese rosewood exports

    The Commerce Ministry of Thailand recently announced two new regulations targeting the timber trade. Beginning on July 17, traders will be required to hold a certificate of import to import timber, processed wood, and wooden artefacts. Additionally, starting August 16, the export of Siamese rosewood (phayung) will be prohibited, Bangkok Post reports. The director-general of the Foreign Trade Department, Ronnarong…

  • Thailand tourism thrives with 1,200% surge in Klook bookings

    Thailand tourism thrives with 1,200% surge in Klook bookings

    Online travel platforms continue to express optimism about Thailand’s tourism growth this year, propelled by a substantial increase in visitor arrivals. Wilfred Fan, Chief Commercial Officer at Klook, an online travel platform, stated that the company experienced a 1,200% increase in bookings for activities in Thailand year on year in the first five months of 2023. The top five markets…

  • Tourism promotion: TCT urges government to market Thailand as prime retiree destination

    Tourism promotion: TCT urges government to market Thailand as prime retiree destination

    Tourism promotion has driven the Tourism Council of Thailand (TCT) to urge the new government to market Thailand as a prime destination for retirees while advocating for regulatory changes that would encourage the development of the tourism industry. The TCT yesterday met with representatives from the Thai Sang Thai Party to discuss these proposed changes, following the party’s consultation with…

  • Thailand embraces nuclear fusion tech with Tokamak I milestone

    Thailand embraces nuclear fusion tech with Tokamak I milestone

    Thailand Prime Minister Prayut Chan-o-cha expressed satisfaction with the progress of the country’s Tokamak I (TT-1) nuclear fusion energy technology, stating its significance in achieving sustainable energy goals. The 69 year old prime minister’s comments came during a presentation on the development of nuclear fusion energy in Thailand, given by Anek Laothamatas, Minister of Higher Education, Science, Research and Innovation (MHESI),…

  • Thai interest rates raised to 2% by BoT amid core inflation worries

    Thai interest rates raised to 2% by BoT amid core inflation worries

    The Monetary Policy Committee of the Bank of Thailand (BoT) anticipates ongoing economic growth with some potential risks, as evidenced by their decision to increase the key Thai interest rates for the sixth consecutive meeting, according to the minutes released recently. On May 31, the committee unanimously agreed to increase the one-day repurchase rate by a quarter point to 2%,…

  • BAFS to build 1.2 billion baht oil pipeline linking Saraburi and Ang Thong

    BAFS to build 1.2 billion baht oil pipeline linking Saraburi and Ang Thong

    Bangkok Aviation Fuel Services Plc (BAFS) is set to construct a new 52-kilometre oil pipeline connecting Saraburi to Ang Thong, in a bid to enhance its trade in the northern region. The project, which is estimated to cost 1.2 billion baht, will facilitate oil transportation from the east to the north. BAFS is currently in discussions with Thai Petroleum Pipeline…

  • Zen Corp and CPF launch ready-to-eat Tummour meal at 7-Eleven stores

    Zen Corp and CPF launch ready-to-eat Tummour meal at 7-Eleven stores

    If you visit 7-eleven a lot in Thailand, there’s good news for you. Zen Corporation Plc, known for operating restaurant chains such as Zen, AKA, and Tummour, has announced its expansion into the ready-to-eat meal market in a bid to strengthen its long-term business prospects. The company’s chief commercial officer for Thai brands, Siruwat Chatchawan, disclosed that Zen Corporation has…

  • Thailand’s tourism rebounds with 11.4 million visitors

    Thailand’s tourism rebounds with 11.4 million visitors

    Thailand has experienced a surge in foreign tourist arrivals, with 11.4 million visitors recorded from January to June 11, according to a statement released by the Ministry of Tourism and Sports. This figure has already surpassed the total number of tourists in 2022, which reached 11.15 million. The statement also revealed that tourist spending during this period amounted to 472…

  • Thai economy set for boost as tourism and domestic consumption surge

    Thai economy set for boost as tourism and domestic consumption surge

    The Thai economy is predicted to experience a boost in the second half of the year, driven by a surge in tourism and domestic consumption, according to the Economic Intelligence Service (EIS) of the Thailand Development Research Institute (TDRI). However, ongoing political instability remains a factor to watch. The EIS forecasts that Chinese tourist arrivals in Thailand will increase by…

  • Ubolratana Dam usable water drops 11% amid insufficient wastewater plants

    Ubolratana Dam usable water drops 11% amid insufficient wastewater plants

    A significant decrease in usable water has been reported at Khon Kaen’s Ubolratana Dam, with an 11% drop attributed to an insufficient number of wastewater treatment plants in the region. The Office of National Water Resources (ONWR) has revealed that the dam currently holds only 32% of its total capacity, with merely 207 million cubic metres (m³) of usable water,…

  • Suvarnabhumi Airport’s SAT-1 terminal set for soft takeoff in September

    Suvarnabhumi Airport’s SAT-1 terminal set for soft takeoff in September

    Suvarnabhumi Airport in Bangkok is set to soft launch its Satellite Airport Terminal 1 (SAT-1) in September, with a full opening planned for early next year. Airports of Thailand (AoT) president, Kerati Kijmanawat, stated that the new 216,000-square-metre facility, with a capacity for 28 aircraft parking bays, aims to address existing issues at the airport. With the ability to accommodate…

  • Eggs-traordinary crisis: Thailand’s soaring egg prices crack traders and consumers alike

    Eggs-traordinary crisis: Thailand’s soaring egg prices crack traders and consumers alike

    The soaring cost of eggs in Thailand has left traders and consumers concerned, with some attributing the price hike to a shortage of supplies at farms and increased export demand. Wanchai Rungmitcharatsaeng, a 65 year old egg shop owner in Khon Kaen’s Mueang district, has been in the business for over 20 years and claims that egg prices have reached…

  • Foreign investors target luxury Bangkok condos, India eyes Pattaya properties

    Foreign investors target luxury Bangkok condos, India eyes Pattaya properties

    Foreign buyers are showing renewed interest in luxury condominiums in Bangkok, with potential investors primarily coming from China, Myanmar and India. Yesterday, Capital One Real Estate and its representatives have reaffirmed that Thailand’s real estate market is showing positive signs as their portfolio value is on track to reach 50,000 million baht (US$1.42 billion). As a result, foreign market sales…

  • New Na Klang-Ao Jik road links Phuket and Phang Nga, boosting tourism

    New Na Klang-Ao Jik road links Phuket and Phang Nga, boosting tourism

    The newly completed Na Klang-Ao Jik road, which connects Phuket and Phang Nga, is set to provide a boost to local tourism and cross-provincial transport. The Department of Rural Roads (DRR) has invested approximately 282.8 million baht (US$8.5 million) in the 4.2-kilometre road, which is part of a city expansion project in Phang Nga’s Thai Muang district. The concrete road…

  • Thai GDP growth at risk as new government formation faces delays

    Thai GDP growth at risk as new government formation faces delays

    Concerns are rising within the private sector as the potential delay in the formation of Thailand’s new government could lead to a decline in the country’s GDP growth to 1-2%. Kriengkrai Thiennukul, chairman of the Federation of Thai Industries, stated that the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) is closely monitoring the political situation. A new government…

  • Thai economy could face 36 billion baht hit from extreme weather

    Thai economy could face 36 billion baht hit from extreme weather

    Extreme weather conditions, including drought and floods, could potentially inflict a 36 billion baht blow to Thailand‘s economy this year, warns the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB). Drought, in particular, is a significant concern as it may severely affect the agricultural and manufacturing sectors, further hindering the country’s already sluggish exports. “Manufacturers are worried about drought…

  • Thai coalition parties propose zero-based budgeting for efficiency

    Thai coalition parties propose zero-based budgeting for efficiency

    The implementation of zero-based budgeting (ZBB) has been proposed by the Move Forward Party (MFP) as part of a 23-point memorandum of understanding signed by eight political parties seeking to form a new coalition government. The MFP argues that the current budgeting system fails to address the public’s needs due to bureaucratic hurdles. ZBB requires state officials to justify expenses…

  • Bangkok’s YMID initiative drives Thai medical innovation to meet Asian demand

    Bangkok’s YMID initiative drives Thai medical innovation to meet Asian demand

    The National Innovation Agency (NIA) is continuing to push forward the Yothi Medical Innovation District (YMID) initiative in Bangkok, aiming to meet the growing demand for a central medical hub in Asia, according to NIA’s executive director, Pun-Arj Chairatana. Situated in Bangkok’s Yothi neighbourhood, the YMID project seeks to decrease imports of medical innovations and establish a Thai medical innovation…

  • Inflation plummets to 21-month low in Thailand as fuel and electricity prices drop

    Inflation plummets to 21-month low in Thailand as fuel and electricity prices drop

    Inflation in Thailand reached its lowest point in 21 months last month, primarily driven by declining fuel prices and electricity bills, along with a higher price base in May of the previous year. Experts predict that the inflation rate will further decrease throughout June. Wichanun Niwatjinda, deputy director-general of the Trade Policy and Strategy Office, expects inflation for June to…

  • Foreign investors sell 100 billion baht in Thai stocks and shares amid global rate rise

    Foreign investors sell 100 billion baht in Thai stocks and shares amid global rate rise

    In the first five months of this year, foreign investors offloaded almost 100 billion baht worth of Thai shares, with 33.4 billion baht sold in May alone, due to increasing global interest rates and uncertainties surrounding the formation of a new government. Despite this, the Stock Exchange of Thailand (SET) expressed optimism yesterday, believing that the recent easing of the…

  • Thai exports decline for seventh month as global demand slows

    Thai exports decline for seventh month as global demand slows

    The Thai Ministry of Commerce has reported a decline in the nation’s export value for the seventh consecutive month. In April, the value dropped by 7.6% compared to the previous year, a significantly larger decrease than the 2% fall anticipated by economists. April’s exports were valued at US$21.72 billion, a notable decrease from March’s 12-month high of US$27.65 billion. Despite…

  • Thai parties pledge to tackle economic inequality, business groups sceptical

    Thai parties pledge to tackle economic inequality, business groups sceptical

    Business organisations have expressed support for the Move Forward Party’s campaign pledges to address economic inequality in Thailand, but they question the party’s ability to overcome long-standing issues. On May 22, eight political parties signed a memorandum of understanding, outlining 23 focal points for governing Thailand. These included a joint commitment to reducing inequality and promoting equitable economic growth. The…

  • Thai rice exports valued at 23% more than same period last year

    Thai rice exports valued at 23% more than same period last year

    From January to April, Thailand’s rice exports reached 2.79 million tonnes, with an estimated total for the year surpassing 8 million tonnes, according to the government. Prime Minister Prayut Chan-o-cha, expressed optimism regarding the exports being valued at US$1.5 billion (51.2 billion baht) revenue, a 23% increase compared to the same period last year, as reported by government spokesperson Anucha…

  • Thailand’s forest rangers push for higher salary

    Thailand’s forest rangers push for higher salary

    Thailand’s forest rangers are pushing for a higher salary. The Department of National Parks, Wildlife and Plant Conservation in Thailand is calling for a pay raise for approximately 14,000 forest rangers, Thai PBS reported. The department is seeking an increase from the current monthly salary of 9,000 baht to 11,000 baht from the Comptroller Department of the Finance Ministry, effective…

  • Pheu Thai candidate Dr Silp champions cultural diversity for economic revival

    Pheu Thai candidate Dr Silp champions cultural diversity for economic revival

    Dr Silp – Silpwichai Noisyamitr, a candidate for the constituency 24 of Khlong San, Thonburi, and Ratchaburana, Bang Pakok, under the Pheu Thai Party, aims to revive the economy with the diverse local culture. Growing up, he was a keen reader of Bangkok’s column in the newspaper, which made him an “active citizen” with a great knowledge of urban development.…

  • Thailand is the world’s biggest exporter of durian

    Thailand is the world’s biggest exporter of durian

    Thailand, known for its rich culture and stunning beaches, is also the world’s biggest exporter of the notorious fruit, durian. According to the Trade Policy and Strategy Office, Ministry of Commerce, Thailand has retained its top spot for durian exports, accounting for a whopping 93.3% of the global market share, Pattaya Mail reported yesterday. In 2022, Thailand exported fresh durian…