Connect with us

Economy

Thai government offering more aid to rural areas and domestic tourism

Maya Taylor

Published 

 on 

Thai government offering more aid to rural areas and domestic tourism | Thaiger
PHOTO: Thai Residents

The government says it’s looking at expanding its domestic tourism stimulus package to assist rural economies while helping airlines and others in the tourism sector with soft loans. Deputy PM Somkid Jatusripitak says urgent measures are needed to create jobs for those who have returned to their home provinces after losing their livelihoods as a result of the Covid-19 crisis.

He was speaking at a meeting attended by Finance Minister Uttama Savanayana, the governor of the Bank of Thailand, and representatives from the National Economic and Social Development Board.

A report in Thai PBS World says Somkid is urging the NESDB to prioritise job creation in rural areas in a 400 billion baht rehabilitation programme aimed at restoring economic stability. He adds that airlines and others in the tourism sector should be offered soft loans to manage cash flow problems and help them stay afloat.

Meanwhile, Minister Uttama says he’s asking the NESDB and the Thai Credit Guarantee Corporation to come up with solutions that will guarantee the credit provided to small to medium businesses while extending the deadline when loans need to be repaid. He adds that the government is looking at extending its Thiew Pan Sook (Happiness Sharing Tour) domestic tourism stimulus package to create more jobs in the tourism industry.

SOURCE: Thai PBS World

Keep in contact with Thaiger by following our Facebook page.

Never miss out on future posts by following Thaiger.

3 Comments

3 Comments

  1. Avatar

    David Bateman

    Friday, July 3, 2020 at 10:39 am

    And yet they do nothing to try and keep the tourists already here? Tourists that are obviously Covid free and spending money!

    • Avatar

      crusty cammy

      Friday, July 3, 2020 at 10:51 am

      Yes .learn to walk before you run .start at home then gradually build .?

  2. Avatar

    crusty cammy

    Friday, July 3, 2020 at 11:52 am

    Yes .learn to walk before you run .start at home then gradually build .?

Leave a Reply

Your email address will not be published. Required fields are marked *

A seasoned writer, with a degree in Creative Writing. Over ten years' experience in producing blog and magazine articles, news reports and website content.

Economy

2 emergency decrees provide businesses financial help

Avatar

Published

on

2 emergency decrees provide businesses financial help | Thaiger
PHOTO: 2 Decrees aim for financial relief for struggling businesses

Thailand enacted 2 new emergency decrees today aimed at providing assistance to businesses and reducing default interest rates to help people affected by Covid-19. A deputy government spokeswoman confirmed the needed action was critical to protect and aid entrepreneurs and small and medium-sized enterprises during the time of pandemic-driven economic crisis.

The goal was to combat unfair interest rates on debt many are suffering, and to provide loans to help keep businesses afloat as the end of the Coronavirus is nowhere in sight.

The Emergency Decree on the Provision of Financial Assistance for Entrepreneurs Affected By the Covid-19 Pandemic allocates 250 billion baht in loans for businesses to recover from the devastating economic effects of the global pandemic. 100 billion baht of this is specifically set aside for those businesses in debt to participate in asset warehousing or debt repurchasing plans.

Asset warehousing allows businesses, like hotels, to essentially store their property in the care of a creditor for a fee until the economy recovers enough to take over the property again and start making money with it again. Debt repurchasing is a process for a business to buy back its own debt with better terms or a lower rate with the purchase price considered a payment to the principal debt not the interest, similar to refinancing a home.

The second of the emergency decrees, an amendment to the Civil and Commercial Code, looks to close loopholes caused by ambiguity in the law that allowed predatory creditors to charge unreasonable interest rates.

If someone missed a loan payment, the original law did not set a default rate, so lenders could charge additional interest. Debtors can now base default rate calculations on the unpaid principal in the updated law. The new decree sets a 3% yearly interest rate and lowers the default rate to 5% a year from the originally 7.5%. The Finance Ministry declared interest rates would be revised every 3 years.

SOURCE: Bangkok Post

Keep in contact with Thaiger by following our Facebook page.

Never miss out on future posts by following Thaiger.

Continue Reading

Pattaya

Unemployed elephants walk 500 kilometres from Pattaya to Surin

Avatar

Published

on

Unemployed elephants walk 500 kilometres from Pattaya to Surin | Thaiger
PHOTO: Elephants walking down the road because their car is in the shop.

A group of 5 elephants and their owners began the long walk today from Pattaya to Surin after giving up on the return of tourism anytime soon. The 500 kilometre journey has to be done on foot as they couldn’t afford to hire trucks large enough to carry each elephant.

After waiting a year for the Chinese tourists that make up a majority of their customer base to return, the families decided to embark on the long journey with the 5 elephants to their home in the northeastern province of Surin. As they walk they’re protected on both sides by pickup trucks to keep them safe from cars.

5 years ago Napalai Mai-ngam came with her relatives to work in an elephant resort in Tambon Lam Huay Yai of Bang Lamung near Pattaya with their 5 elephants. They told the Bangkok Post that their earned a good living, about 75,000 baht (15,000 per elephant) plus tips from the tourists to ride elephants on nature trails, each month.

But with the borders closed due to the Covid-19 pandemic the tourists from China who usually flocked to elephant activities, were stuck back in China and Napalai’s boss had to cut their pay. Even with vaccinations finally underway, tourists in numbers, enough to sustain activities like elephant camps, may not be back anytime soon. The families finally had to surrender to the reality and start the long walk home.

They avoid the blistering Thai sun by walking early mornings while the weather was still cool, and hope the roadways out of Pattaya would provide snacking opportunities for the elephants to graze. They expect the journey to take about 2 weeks. The families have turned down offers of cash donations for fear that their long walk will be viewed as a publicity stunt.

That said, the families have expressed gratitude to the locals in towns they pass who have donated drinking water, food and fruit to the entourage of people and elephants. If you would like to donate resources you can contact them on phone number 093 335 7062.

SOURCE: Bangkok Post

Keep in contact with Thaiger by following our Facebook page.

Never miss out on future posts by following Thaiger.

Continue Reading

Economy

Southern Thai people turn from tourism to gold panning

Avatar

Published

on

Southern Thai people turn from tourism to gold panning | Thaiger
PHOTO: Traditional panning for gold replaces tourism for income in Southern Thailand

Thars gold in dem hills!

With tourism in Thailand struggling due to Covid-19, and an economy needing some help, some people in the southern Thai region of the country have found income in an unusual source: panning for gold. The Sukhirin region close to the Malaysian border is known for gold deposits in the Sai Buri River and surrounding mountains. Villagers who made money before with tourism have now returned to panning for gold using old-fashioned manual techniques their ancestors used, without the aid of any machinery. Well, just an old pan.

Locals had previously made money selling food to passing tourists or acting as a tour guide to take people around the area, where travellers seeking to get away from the crowded and overdeveloped tourist areas that attract the most foreigners find many unique activities. Kayaking was a popular local activity with up to 150 people a day sailing down the rivers that are now filled with locals panning for gold. The prospectors are now making their income from the gold they collect which sells for 1,500 baht per gram. Families that work together can often collect at least one gram a day.

Thai Gold prices have reached record highs over the last 2 years and many Thai people have traditionally used gold and gold jewellery as a form of savings and investment, pawning their gold rings and bracelets in times of financial emergencies. The gold collected from these Southern villages will be used to make jewellery in Bangkok.

The region had invested in expanding into ecotourism but the pandemic put all their construction plans on hold. A cable car was being built to transport people up to the tops of the mountains to beautiful temples. The area’s unique history attracted people to their annual Rocket Festival, typically a north-eastern celebration.

In 1932, France was granted a 25 year mining contract in the jungles. They extracted almost 2000 kg of gold before World War II forced closure. The mining tunnels still exist and sometimes attracted adventurous tourists, but now sit vacant aside from snakes. In the 1960s the Thai government incentivised northerners with 18 rai of land each to move to the region. As a result, the area stands out in the Muslim region with 90% of the population being Buddhist, and most still speaking Isan dialects.

SOURCE: France 24

Keep in contact with Thaiger by following our Facebook page.

Never miss out on future posts by following Thaiger.

Continue Reading
New Yaba pill laced with crystal meth to increase potency | Thaiger
Drugs42 mins ago

New Yaba pill laced with crystal meth to increase potency

Northern Thai provinces starting Covid restrictions as 3rd wave spreads | Thaiger
Coronavirus (Covid-19)1 hour ago

Northern Thai provinces starting Covid restrictions as 3rd wave spreads

Travelling from the UK? Here’s some details on restrictions…. | Thaiger
Transport2 hours ago

Travelling from the UK? Here’s some details on restrictions….

Covid UPDATE: Wednesday’s new infections rise to 1,335 people, 36 people in “serious condition” | Thaiger
Coronavirus (Covid-19)2 hours ago

Covid UPDATE: Wednesday’s new infections rise to 1,335 people, 36 people in “serious condition”

Thailand approves 8 vaccines for foreign travellers seeking shortened quarantine | Thaiger
Coronavirus (Covid-19)2 hours ago

Thailand approves 8 vaccines for foreign travellers seeking shortened quarantine

Songkran holiday eerily quiet after Covid mutes celebrations | Thaiger
Thailand3 hours ago

Songkran holiday eerily quiet after Covid mutes celebrations

Bangkok police tracking down owners of Thong Lor clubs where virus resurfaced | Thaiger
Coronavirus (Covid-19)3 hours ago

Bangkok police tracking down owners of Thong Lor clubs where virus resurfaced

Thailand stocking up on Covid-19 drugs, private jabs may arrive later this year | Thaiger
Coronavirus (Covid-19)3 hours ago

Thailand stocking up on Covid-19 drugs, private jabs may arrive later this year

Myanmar could descend into a civil war comparable to Syria- UN | Thaiger
Politics3 hours ago

Myanmar could descend into a civil war comparable to Syria- UN

Officials in Chiang Mai and Hua Hin express concern amid rapid rise in infections | Thaiger
Chiang Mai4 hours ago

Officials in Chiang Mai and Hua Hin express concern amid rapid rise in infections

US pauses use of Johnson & Johnson vaccine after “rare and severe” blood clots | Thaiger
Coronavirus (Covid-19)5 hours ago

US pauses use of Johnson & Johnson vaccine after “rare and severe” blood clots

UPDATE: Field hospitals being established in Covid hot zones around Thailand | Thaiger
Coronavirus (Covid-19)18 hours ago

UPDATE: Field hospitals being established in Covid hot zones around Thailand

Thailand News Today | Tour bus disaster, Covid infections drop slightly | April 13 | Thaiger
Thailand20 hours ago

Thailand News Today | Tour bus disaster, Covid infections drop slightly | April 13

Thailand’s Civil Aviation Authority announces health and safety regulations | Thaiger
Thailand1 day ago

Thailand’s Civil Aviation Authority announces health and safety regulations

Thailand looks at proposal to make it easier for expats and long-termers | Thaiger
Expats1 day ago

Thailand looks at proposal to make it easier for expats and long-termers

Sawasdee pi mai – The four days of Songkran 2021 | Thaiger
Songkran1 day ago

Sawasdee pi mai – The four days of Songkran 2021

Tourism officials slash Songkran travel expectations by half | Thaiger
Chiang Mai4 days ago

Tourism officials slash Songkran travel expectations by half

Condolences from Thailand to UK on Prince Philip’s death | Thaiger
Hot News3 days ago

Condolences from Thailand to UK on Prince Philip’s death

Thai Airways cuts another 4,250 staff, offering them early retirement | Thaiger
Transport4 days ago

Thai Airways cuts another 4,250 staff, offering them early retirement

UN special envoy in Thailand to meet Foreign Minister about Myanmar crisis | Thaiger
Thailand4 days ago

UN special envoy in Thailand to meet Foreign Minister about Myanmar crisis

Privatising Covid vaccines – Thai government gives private hospitals the go-ahead to buy vaccines | Thaiger
Coronavirus (Covid-19)4 days ago

Privatising Covid vaccines – Thai government gives private hospitals the go-ahead to buy vaccines

Police chief orders staff to work from home after 42 officers test positive | Thaiger
Coronavirus (Covid-19)5 days ago

Police chief orders staff to work from home after 42 officers test positive

Immigration police arrest Frenchman on drug charges, 3 other foreigners for overstay | Thaiger
Crime6 days ago

Immigration police arrest Frenchman on drug charges, 3 other foreigners for overstay

Bangkok prepares to open field hospital as officials warn of a rapid rise in infections | Thaiger
Coronavirus (Covid-19)6 days ago

Bangkok prepares to open field hospital as officials warn of a rapid rise in infections

Thai Health Minister pictured without mask, sitting next to infected Transport Minister | Thaiger
Coronavirus (Covid-19)6 days ago

Thai Health Minister pictured without mask, sitting next to infected Transport Minister

UPDATE: Thai PM orders closure of bars and clubs in 41 provinces | Thaiger
Thailand5 days ago

UPDATE: Thai PM orders closure of bars and clubs in 41 provinces

Environmentalists criticise Netflix fishing doco for inaccuracies and misinformation | Thaiger
Environment2 days ago

Environmentalists criticise Netflix fishing doco for inaccuracies and misinformation

Officials say no plan to change mandatory hospitalisation for Covid patients | Thaiger
Coronavirus (Covid-19)2 days ago

Officials say no plan to change mandatory hospitalisation for Covid patients

Top doctors say Thong Lor cluster might be the UK Covid-19 variant | Thaiger
Coronavirus (Covid-19)7 days ago

Top doctors say Thong Lor cluster might be the UK Covid-19 variant

UK variant arrives in Thailand, top virologist warns against unnecessary Songkran travel | Thaiger
Coronavirus (Covid-19)6 days ago

UK variant arrives in Thailand, top virologist warns against unnecessary Songkran travel

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4 | Thaiger
Thailand1 month ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO | Thaiger
Tourism1 month ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2 | Thaiger
Phuket1 month ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Phuket Thai food treats you need to try | VIDEO | Thaiger
Tourism2 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23 | Thaiger
Thailand2 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

In search of Cat & Dog Cafés in Phuket Town | VIDEO | Thaiger
Tourism2 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21 | Thaiger
Thailand3 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19 | Thaiger
Thailand3 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18 | Thaiger
Thailand3 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15 | Thaiger
Thailand3 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14 | Thaiger
Thailand3 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13 | Thaiger
Thailand3 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12 | Thaiger
Thailand3 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11 | Thaiger
Thailand3 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Thailand News Today | Southern floods, Face mask fines, Thai Air Asia woes | January 8 | Thaiger
Thailand3 months ago

Thailand News Today | Southern floods, Face mask fines, Thai Air Asia woes | January 8

Follow Thaiger by email:

Trending