Search Results for: Thailand's economy
- Business News
Thailand’s One Drone, One Community project aims to boost smart farming and economy
The Digital Economy Promotion Agency (Depa) has announced its plan to launch a pioneering project in Thailand that will provide large drones to communities and offer training in drone maintenance to encourage smart farming development. The initiative, titled “One Drone, One Community,” is backed by the Digital Economy Fund and aims to create an economic impact exceeding 800 million baht…
- Thai Law News
Thailand’s Digital Economy and Society Minister says e-cigarettes should be legalised
Thailand’s Digital Economy and Society Minister says it’s about time that e-cigarettes be legalised. The Minister, Chaiwut Thanakamanusorn, thinks Thailand should amend the law to reflect the lives of many people in developed countries. According to Thai PBS World, Chaiwut added that Thailand’s neighbouring countries of Singapore and Malaysia have already legalised electronic smoking devices. “The key issue is to…
- World News
Bio, circular, green – Thailand’s BCG offers APEC sustainable economy
Thailand is preparing to welcome the 21 APEC members to Bangkok next month with a new business code of conduct that espouses a Bio-Circular-Green (BCG) economic model. The BCG model is both environmentally-friendly and responsible, the Foreign Ministry’s senior APEC official Cherdchai Chaivaivid said during an interview with The Nation. The director-general of the Department of International Economic Affairs noted…
- Thailand News
Thailand’s Digital Economy Minister ‘clarifies’ about the posting of crime pics or videos online
Thailand’s Digital Economy and Society Minister, Chaiwut Thanakamanusorn, is warning crime witnesses that spreading pictures or videos of the incidents via online channels ‘could’ violate the new Personal Data Protection Act or PDPA. The minister says the safer way to help victims is to hand the evidence to the police officers. Thailand officially operated the PDPA or the Personal Data…
- Thailand News
Thailand’s Digital Economy and Society Minister infected with Covid-19
Thailand’s Digital Economy and Society Minister has Covid-19. The minister, Chaiwut Thanakamanusorn, is currently in hospital with a fever and headache. He says he may have contracted the virus on a trip to Chiang Mai last Thursday. It remains unknown which variant he contracted. The infection has not reached his lungs, however, other members of the ruling Palang Pracharath Party…
- Economy News
Chief ASEAN economist says protests not helping Thailand’s weak economy recover
Chief ASEAN economist of Nomura, Euben Paracuelles, says Thailand’s current protests are not helping Thailand’s weak economy recover. In fact, Pracuelles says Thailand’s economy is the weakest and slowest in the region, noting that it is in “pretty bad shape”. He further says that the last thing the kingdom needs is something to weaken its recovery and that the current…
- Covid-19 News
Thailand’s over-zealous virus control is killing the economy
Investors and economists are saying that “fear” and concerns over a second wave of Covid-19 is stopping Thailand’s economy recover. “Thailand should overcome concern of a second wave of Covid-19 and instead relax restrictions on foreign investors and tourists in order to shore up its falling economy.” Prominent local investor Dr. Niwes Hemvachiravarakorn says that the Thai Government… “shouldn’t worry…
- Thailand News
Thailand’s digital economy and data use to expand x 4 in the next 3 years
by Nophakhun Limsamarnphun Data use in the country’s fast-paced digital economy is forecast to jump four times over the next three years, resulting in massive demand and growth for data storage facilities. The managing director of Supernap Thailand, Sunita Bottse, says that the number of Thailand’s mobile device users has reached 46 million out of the country’s 69 million population, while…
- Thailand News
Thailand’s female CEOs soar but the gender equality gap remains
Thailand’s female business leaders are smashing glass ceilings at an impressive rate, but the country’s gender equality struggle is far from over. With 32% of senior leadership positions in Thai businesses held by women, compared to a global average of 27%, Thailand boasts one of the highest ratios of women CEOs in the world. Nearly 90% of businesses in Thailand…
- Thailand News
Job jolt: Thailand’s unemployment hits two-year high at 1.07%
Thailand’s unemployment rate surged to a two-year high, with 1.07% of the workforce out of a job, the National Economic and Social Development Council (NESDC) revealed. The rise marks the highest level of unemployment since the Covid-19 pandemic waned, showing a worrying trend in the nation’s job market. Danucha Pichayanan, NESDC Secretary-General, reported that the rate had climbed slightly from…
- Tourism News
Thailand’s tourism boom tainted by zero-dollar tours
Thailand’s booming tourism sector is thriving under a new visa-free policy, attracting millions of foreign tourists. Yet, while Chinese visitors top the list, concerns are mounting over the resurgence of Chinese zero-dollar tours, which could be draining potential revenue from the Thai economy. From January 1 to August 18, Thailand welcomed a staggering 22,474,172 international tourists, who pumped 1.05 trillion…
- Business News
Thailand’s food exports to rise by 8.8%, hitting 1.6 trillion baht
Thailand’s food exports are set to rise by 8.8% year-on-year, reaching 1.6 trillion baht this year, according to the National Food Institute (NFI). This growth is largely attributed to increasing global demand and a decline in raw material prices, said the President of the NFI, Supawan Teerarat. “Raw materials such as tuna, sugar, soybeans, and wheat have seen a price…
- Thailand News
Thailand’s ‘call’ for scam help at Mekong meeting
The Government of Thailand will leverage the upcoming Mekong-Lancang Cooperation (MLC) meeting to seek regional support in tackling call centre scam gangs. Prime Minister Srettha Thavisin tasked Foreign Minister Maris Sangiampongsa with addressing this issue during the meeting and exploring effective strategies to combat cross-border crimes, including these scams. The 9th MLC meeting is set for Thursday and Friday in…
- Cannabis
Thailand’s cannabis laws 2024
Thailand’s legal cannabis regulations are undergoing significant transformations, making it imperative for visitors and medical users to remain informed. Beginning in 2024, the Thai government will intensify restrictions on recreational use, emphasising medical and research applications. These new regulations introduce substantial fines and potential imprisonment for unauthorised use or cultivation. Anticipate considerable changes on the horizon. History of cannabis legalisation…
- Thailand News
EU denounces Thailand’s opposition party dissolution
The European Union (EU) voiced serious concerns about the dissolution of Thailand’s opposition Move Forward Party (MFP) by the Constitutional Court, highlighting its potential negative impact on the country’s democratic progress. The EU labelled the court ruling as a setback for political pluralism in Thailand, noting that the MFP garnered 14 million votes out of 39 million in the 2023…
- Thailand News
10.5 million sign up for Thailand’s digital wallet scheme in six hours
More than 10.5 million people signed up for the eagerly anticipated digital wallet scheme within the first six hours of its registration opening yesterday. This number surpassed initial expectations, according to Deputy Finance Minister Julapun Amornvivat. However, he also clarified that not all who registered will qualify for the benefits, as eligibility will be determined after a review period, with…
- Thailand News
What is the current state of Thailand’s casino legislation, and how likely is it to change in the near future?
Thailand stands on the brink of a potentially transformative shift in its approach to gambling. For many years, casinos have been completely banned in the country, reflecting a conservative stance deeply rooted in cultural and legal traditions. However, recent developments suggest that Thailand might be on the path to legalising and regulating casino operations, marking a significant departure from its…
- Business News
Thailand’s steel sales drop 8.7% amid cheap Chinese imports
Thailand’s steel industry faced sluggish sales in the first five months of this year due to reduced spending on construction projects and the influx of cheap imports from China, according to Tata Steel (Thailand) Plc (TSTH), a subsidiary of India’s largest steelmaker. Long steel product consumption fell by 8.7% year-on-year to 2.47 million tonnes as stated by Tarun Kuma Daga,…
- Economy News
Thailand’s national holidays set to generate 18.3 billion baht
National holidays in Thailand this month are expected to boost tourism revenue significantly, with projections indicating 18.3 billion baht from five million domestic trips, as reported by the Tourism Authority of Thailand (TAT). The momentum in domestic tourism showed strong performance during the recent Buddhist holidays, Asarnha Bucha Day and Khao Phansa (Buddhist Lent), and is anticipated to continue through…
- Business News
Shocking slump: Thailand’s premium EV sales plunge 35%
Thailand has experienced a significant decline in the sales of premium electric vehicles (EVs), dropping 35% year-on-year in the first half of the year. Despite this downturn, BMW remains optimistic about its EV sales, banking on the appeal of its newly launched models in the Mini family in Bangkok. Sales of premium EVs fell to 3,844 units between January and…
- Thailand News
Thailand’s digital wallet disaster: MFP oppose budget
Opposition parties have taken a firm stand against the supplementary budget bill, targeting the controversial digital wallet scheme. Estimated at a staggering 450 billion baht, the scheme is criticised for its alleged inefficacy in boosting the GDP and potential legal issues, which could set a detrimental precedent for future national budgeting and fiscal policies. Sirikanya Tansakul, Deputy Leader of the…
- Business News
Thailand’s industrial sentiment hits two-year low amid political strife
Thailand’s industrial sentiment index experienced a decline for the third consecutive month in June, reaching its lowest point in two years, according to the Federation of Thai Industries (FTI). The drop is attributed to a sluggish economy, weak demand, and increasing bad debt problems. The FTI reported that the industrial sentiment index fell to 87.2 in June, down from 88.5…
- Business News
Thailand disburses 3.48 trillion baht budget to boost economy
An injection of 3.48 trillion baht from the 2024 fiscal budget has finally been disbursed in the second quarter of this year, following delays that began on October 1 last year due to political setbacks after the General Election in May 2023. With economic growth stagnating, public expenditure is seen as a crucial factor to revive subdued private spending and…
- Thailand video news
Thailand Video News | Thai MP proposes legalising pornography and sex toy industries to boost economy, British yoga teacher stranded at Bangkok airport due to torn passport
In Thailand Video News today, Alex discusses a Thai MP’s proposal to legalise the pornography and sex toy industries in an effort to boost economic growth. A British yoga teacher is stuck at Suvarnabhumi Airport after being stopped from flying due to a tear in her passport. Thailand’s Election Commission has endorsed 200 new senators, and a 2.0 magnitude earthquake…
- Thailand News
Thai MP aims to ‘stimulate’ economy with sex industry legalisation
A Move Forward Party (MFP) MP today announced plans on social media to legalise professions related to the pornography and sex toy industries in Thailand by revising the Criminal Law of Thailand. The revision draft is expected to be proposed during Parliament today, July 10. The MFP MP, Taopiphop Limjittrakorn, shared his plan to legalise professions related to porn and…
- Thailand News
Thailand’s airports hit new highs as passenger numbers increase
Thailand’s six international airports, operated by Airports of Thailand (AOT), witnessed a record-breaking influx of passengers in the first five months of 2024. Transport Minister Suriya Juangroongruangkit announced a whopping 52.16 million travellers, marking a 20.28% rise compared to the same period last year. AOT manages six key airports: Suvarnabhumi, Don Mueang, Chiang Mai, Mae Fah Luang, Phuket, and Hat…
- Business News
Thailand’s economic growth forecast cut to 2.4% amid weak exports
Thailand’s economic growth is forecasted to slow to 2.4% this year, a decrease from the 2.8% projection made in April, primarily due to weaker-than-expected exports and public investment in the early months of the year, the World Bank announced. The World Bank today, July 3, highlighted that the growth of Southeast Asia’s second-largest economy will be supported by consumer spending,…
- Business News
Credit agencies highlight Thailand’s EEC as key to industrial growth
Credit rating agencies underscore the significance of Thailand’s Eastern Economic Corridor (EEC) project in advancing the nation’s industrial sector and boosting competitiveness, according to the Public Debt Management Office (PDMO). The public debt advisor for PDMO, Jindarat Viriyataveekul, indicated that credit rating agencies have been closely observing the EEC project’s progress for years due to its pivotal role in shaping…
- Thailand News
Thailand’s exports surge in May with agricultural products
Thailand’s exports reached their highest level in 14 months, achieving a 7.2% year-on-year growth in May, largely due to a surge in agricultural products. Director-General of the Trade Policy and Strategy Office Poonpong Naiyanapakorn announced that the value of exports in May expanded to US$26.2 billion (approximately 960 billion baht), marking a significant gain of 7.2%. Thai shipments, excluding gold,…
- Thailand News
Phuket crowned Thailand’s tech haven
Phuket has been declared Thailand’s most technologically advanced province among 23 smart provinces, while Wangchan Valley in Rayong clinched the top spot in the city category, according to a report by the Digital Economy Promotion Agency (DEPA). The rankings, unveiled by DEPA’s Smart Cities Office in the Thailand Smart City Competitiveness Index (TSCCI) 2023 report, evaluated 30 smart cities across…
