boost economy
- Thailand News
Ex-alcohol chief toasts potential gains from lifting drink sales ban
Former chairperson of the Alcohol Beverage Business Association recently discussed the potential economic benefits of lifting the ban on alcohol sales from 2pm to 5pm as well as on religious holidays. The move aligns with Prime Minister Paetongtarn Shinawatra’s directive to review regulations that hinder economic stimulation and contradict tourism promotion policies. Thanakorn Kuptajit highlighted that revisiting these restrictions, including the…
- Bangkok News
Thailand and Yokohama strengthen Bangkok Port collaboration
The Port Authority of Thailand (PAT) and the City of Yokohama in Japan have formalised a letter of intent to enhance their port operations and infrastructure on the 10th anniversary of their partnership. Deputy Prime Minister Suriya Jungrungreangkit highlighted that this agreement will bolster cooperation in port development and infrastructure, with a focus on Bangkok Port. The collaboration aims to…
- Thailand News
CNY spending boom: Thailand poised for festive cash splash
Thailand’s economy is set to light up like a firecracker this Chinese New Year, with spending forecast to rise by over 3%, according to the Economic and Business Forecasting Centre at the University of the Thai Chamber of Commerce. Buoyed by a recovering economy, government cash injections, and a surge of Chinese tourists, the festival promises to spark a celebratory…
- Thailand News
Thailand rolls out red carpet with bigger rebates for filmmakers
The Thail Cabinet approved an increase in the rebate offered to foreign film productions, raising it to a range of 15 to 30% to attract more international filmmakers to shoot in the country. This decision, announced by Jirayu Huangsap, spokesperson for the Prime Minister’s Office, is part of a revised strategy to bolster Thailand’s appeal as a filming destination. The…
- Thailand News
Loy Krathong festival to generate 6.9 billion baht tourism revenue
Thailand’s Loy Krathong festival is set to boost the economy, with an expected 6.9 billion baht in tourism revenue from 1.9 million domestic trips, as reported by the Tourism Authority of Thailand (TAT). The northern region is forecasted to be the most popular destination, drawing the highest number of tourists. TAT Governor Thapanee Kiatphaibool projected a 9% increase in tourist…
- Thailand News
Bank of Thailand slashes interest rates after four-year freeze
The Bank of Thailand (BoT) has stunned financial markets by slashing its key interest rate for the first time in four years, buckling under mounting pressure from the government to revive the sluggish economy. The unexpected move saw the one-day repurchase rate trimmed by 25 basis points, bringing it down to 2.25% from its 10-year high of 2.50%. This decision…
- Thailand News
Thailand boosts economy with overseas workers
Thailand has seen a significant boost in its economy, with over 55,000 workers sent abroad during the 2024 fiscal year, resulting in more than 270 billion baht added to their families’ incomes. Labour Minister Phiphat Ratchakitprakarn visited 364 Thai workers yesterday, October 11, who were undergoing pre-departure training before heading to Taiwan, Israel, and Japan. Among these workers, 321 are…
- Thailand News
Thailand aims to eradicate poverty in two years
Thailand aims to eradicate poverty and build a prosperous economy within the remainder of its term, an adviser to PM Paetongtarn Shinawatra revealed. With just over two years left in office, the 38 year old prime minister is determined to ensure that Thais can rise above poverty, stated Surapong Suebwonglee, deputy chairman of the five-member advisory panel appointed by PM Paetongtarn.…
- Pattaya News
Pattaya gears up for 61st OSEAL Lions Forum this November
The Pattaya Area Sponsorship Procurement Committee convened an important meeting yesterday at the Chanyut and Friends Law Office, situated at the Pattaya Central Red Light Intersection. The gathering was presided over by Chanyut Hengtrakul, the former Secretary to the Minister of Education, who now leads the committee. Discussions centred around the upcoming 61st Orient and Southeast Asian Lions Forum (OSEAL)…
- Thailand News
Thailand to speed up 145 billion baht digital wallet handout
Thailand will advance the distribution of 145 billion baht from its digital wallet handout programme to support vulnerable groups, announced by the deputy finance minister yesterday. The decision aims to provide immediate economic stimulus in the short term. During a budget debate in the senate, Julapun Amornvivat revealed that the government has allocated 450 billion baht for this flagship handout…
- Thailand News
US Navy’s MV Ocean Valor visit to boost economy in Pattaya
The US Navy is set to make a significant visit to Pattaya with the MV Ocean Valor scheduled to dock at Pattaya Port from September 16 to 19. Chon Buri Provincial Officials received a notification from the Ministry of the Interior, based on an announcement from the Ministry of Foreign Affairs, that the request for docking permission has been approved.…
- Thailand News
Bangkok jewellery fair set to sparkle with 3.5 billion baht in revenue
The upcoming 70th Bangkok Gems and Jewellery Fair is gearing up to dazzle with an expected revenue haul of at least 3.5 billion baht, according to the Department of International Trade Promotion (DITP) and the Gem and Jewellery Institute of Thailand (GIT). This glittering event, scheduled from September 9 to 13 at the Queen Sirikit National Convention Centre (QSNCC), is…
- Business News
Thailand’s walking tourism boosts local culture, sustainability
Walking tourism is increasingly popular as travellers seek to immerse themselves in local cultures and explore neighbourhoods more intimately. The United Nations Tourism Organisation (UNWTO) notes that walking tourism fosters a deeper connection with local communities, nature, and culture. This growing trend aligns with the global push for sustainable tourism and satisfies the rising demand for outdoor activities. However, the…
- Business News
Thailand’s economy to grow 2.7% this year
Thailand’s economy is projected to grow 2.7% this year, an increase from the previous forecast of 2.4%, driven by higher foreign tourist arrivals and stronger exports, according to the Ministry of Finance. Deputy Finance Minister Paopoom Rojanasakul highlighted the positive outlook, attributing it to improving economic conditions among trading partners. He noted that growth could potentially reach 3% this year,…
- Thailand News
TAT shines on Sri Racha tourism with magical island light show
The Tourism Authority of Thailand (TAT), in partnership with Sri Racha Municipality, is set to present the Vijitr Chon Buri The Lighting Illumination: The Magical Island. This event will take place from tomorrow, July 20 to July 28 at Koh Loy in Sri Racha. Mayor of Sri Racha District Chatchai Timkrajang and Nat Khrutasutta, the Director of the Activities Department…
- Business News
Transport Ministry execs visit Phuket to boost economic development
Senior executives from the Ministry of Transport gathered at Phuket Provincial Hall yesterday, engaging in a two-day study tour aimed at boosting economic development in the region through transportation initiatives. This initiative, part of a broader training programme organised by the Ministry of Transport, targets government officials and employees from state enterprises. Running from May 27 to August 16, the…
- Thailand News
Thailand and Malaysia aim for 1 trillion baht trade by 2027
Thailand and Malaysia have set an ambitious goal to boost bilateral trade to 1 trillion baht by 2027, with a focus on enhancing border economic connections through the Twin Cities initiative. Deputy Prime Minister and Minister of Commerce Phumtham Wechayachai outlined the plans following the third Thailand-Malaysia Joint Trade Committee (JTC) meeting in Kuala Lumpur. Phumtham highlighted the strong relationship…
- Business News
Northeast plans NEC to boost economy at mobile Cabinet meeting
Private sector representatives in the northeast are set to present a series of economic stimulation projects, including the establishment of the Northeastern Economic Corridor (NEC), during the mobile Cabinet meeting in Nakhon Ratchasima on July 2. Hatsadin Suwattanapongchet, Secretary of the Northeastern Industrial Federations, announced that the NEC, traversing Nakhon Ratchasima, Khon Kaen, Udon Thani, and Nong Khai, will emulate…
- Business News
International visitors boost Thailand’s MICE sector by 5%
International visitors are set to drive Thailand’s MICE (meetings, incentives, conferences, and exhibitions) sector beyond its annual target by 5%, helping to offset a sluggish domestic market. Chiruit Isarangkun Na Ayuthaya, President of the Thailand Convention and Exhibition Bureau (TCEB), reported a robust recovery in the international market during the first three quarters of the 2024 fiscal year, spanning from…
- Thailand News
Thailand unveils 3.75 trillion baht budget bill to boost economy
As the House of Representatives kicked off a three-day debate, Prime Minister Srettha Thavisin introduced a 3.75 trillion baht budget bill for the 2025 fiscal year, aimed at revitalising Thailand’s sluggish economy. Simultaneously, he remains focused on advancing the digital wallet scheme. The budget intends to stimulate economic growth, with forecasts suggesting an increase of 2.5% to 3.5% in 2025…
- Thailand News
Thailand’s Pride Month to attract 860,000 visitors
The Thai government is preparing to champion gender equality, anticipating that Pride Month activities will provide a significant economic boost. Deputy government spokeswoman Kenika Ounjit highlighted that Prime Minister Srettha Thavisin’s administration had announced this initiative as he assumed office. “The government aims to foster a society that embraces diversity and equality across age, gender, religion, and social status, positioning…
- Thailand News
Thai halal boom targets 84 trillion baht market
In a move to capture a share of the burgeoning US$2.3 trillion (approximately 84 trillion baht) global halal market, the Ministry of Industry has launched the Thai Halal Industry Centre. This strategic initiative aims to position Thailand as the regional hub for halal products and services, with the market value expected to soar to US$2.8 trillion by 2025, driven by…
- Business News
Govt to boost 2024 budget by 122 billion baht for handout scheme
According to the Budget Bureau Chief, the Thai government plans to increase the 2024 fiscal budget by 122 billion baht to support its primary handout initiative. This announcement follows the recent approval of a delayed 3.48 trillion baht budget. The government is continuing to push forward with fiscal stimulus plans, aiming to distribute 500 billion baht by the fourth quarter…
- Thailand News
Alipay+ partners with TAT to redefine travel experience
Thai tourism is undergoing a digital revolution as Alipay+ teams up with the Tourism Authority of Thailand (TAT) to redefine the travel experience. With an aim to attract more tourists and enhance their journey, the duo unveils an array of innovations that promise seamless exploration and unforgettable memories. In a joint statement, Alipay+ and TAT announced groundbreaking developments set to…
- Business News
IBM Thailand Director emphasises AI’s impact on economy
As Thailand grapples with geopolitical conflicts, economic barriers, and technological disruptions, the newly appointed managing director of IBM Thailand shared his vision for the nation’s future. Anothai Wettayakorn emphasised the critical importance of focusing on controllable factors in a complex world and said that strategic planning and positivity could bring about positive change. Anothai went on to highlight the exceptional convergence…
- Thailand News
Brewing herbal revolution: Thai herbs poised to spice up global markets
Government spokesman Chai Wacharonke unveiled Prime Minister Srettha Thavisin’s master plan to transform Thai herbs into a formidable soft power product, captivating domestic and international markets. “Prime Minister Thavisin’s vision is crystal clear: to propel Thailand’s herbal industry to unprecedented heights, elevating the status of Thai herbs worldwide.” Harnessing the innate medicinal prowess, rich biodiversity, and indigenous knowledge embedded within…
- Business News
Thailand advances its bid for OECD membership to boost economy
Thailand is forging ahead with its application to become a member of the Organisation for Economic Cooperation and Development (OECD), a move that is anticipated to significantly enhance the country’s economic growth. The Thai Foreign Affairs Minister, Parnpree Bahiddha-Nukara, took a proactive step on Tuesday, April 16, by submitting an official letter of intent to Mathias Cormann, the secretary-general of…
- Business News
Bank of Thailand likely to cut policy rate, predicts CIMB Thai Bank
The Bank of Thailand (BoT) is predicted to lower its policy rate tomorrow, providing a short-term stimulus to the nation’s economy, which has been hampered by budget disbursement delays. Amonthep Chawla, lead economist at CIMB Thai Bank (CIMBT), believes the central bank’s Monetary Policy Committee (MPC) will favour a reduction in the policy rate at the upcoming meeting, with a…
- Thailand News
PM Srettha: Legalise casinos to save Thailand’s economy
Prime Minister Srettha Thavisin advocated for the legalisation of casinos to combat the shadowy underworld economy in Thailand. PM Srettha outlined his vision for a new law permitting entertainment complexes housing legal casinos, aiming to drag illicit activities into the light and bolster national revenue streams. “We have to bring the grey [underground] economy into the light to allow us…
- Thailand News
China-Laos high-speed rail to transform northeast Thailand
Krungthai COMPASS Research Centre unveiled a groundbreaking vision, identifying the China-Laos high-speed railway as the cornerstone for transforming the northeast of Thailand into an economic juggernaut within the Greater Mekong Subregion. The centre disclosed that the China-Laos high-speed railway, now operational for both passenger and freight services along the Kunming-Vientiane route, will directly turbocharge trade and investment in Thailand’s northeastern region,…
