boost economy

  • Thailand NewsForeign affairs minister defends Thailand’s move to join BRICS

    Foreign affairs minister defends Thailand’s move to join BRICS

    Thailand’s Foreign Affairs Minister Maris Sangiampongsa defended the nation’s decision to join BRICS, stating it aligns with national interests and will benefit the economy and international cooperation. Addressing the Senate yesterday, March 10, Maris discussed the pros and cons of this association, emphasising its role in maintaining Thailand’s global presence alongside other developing nations to tackle geopolitical issues. Maris highlighted…

  • Thailand TravelTAT Launches ASEAN + India Shoppers in Thailand 2025

    TAT Launches ASEAN + India Shoppers in Thailand 2025

    The Tourism Authority of Thailand (TAT) officially launched ASEAN + India Shoppers in Thailand 2025, building on the success of last year’s inaugural campaign. This initiative aims to strengthen Thailand’s reputation as a premier shopping and cultural tourism destination, targeting tourists from ASEAN countries and India with exclusive offers and immersive experiences. TAT Governor, Thapanee Kiatphaibool shares her excitement about…

  • Thailand NewsEx-alcohol chief toasts potential gains from lifting drink sales ban

    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 NewsThailand and Yokohama strengthen Bangkok Port collaboration

    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 NewsThailand rolls out red carpet with bigger rebates for filmmakers

    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 NewsThailand backs free trade and green economy at APEC summit

    Thailand backs free trade and green economy at APEC summit

    Thailand is set to champion the establishment of a Free Trade Area of the Asia-Pacific (FTAAP) and is committed to supporting green economy initiatives and sustainable development. Prime Minister Paetongtarn Shinawatra underscored these priorities during her participation in the APEC Economic Leaders’ Retreat, chaired by Peru President Dina Ercilia Boluarte Zegarra, before the conclusion of the 31st Asia-Pacific Economic Cooperation…

  • Thailand NewsLoy Krathong festival to generate 6.9 billion baht tourism revenue

    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 NewsBank of Thailand slashes interest rates after four-year freeze

    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 NewsThailand aims to eradicate poverty in two years

    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.…

  • Thailand NewsThailand’s new tourism campaign to generate 800 million baht

    Thailand’s new tourism campaign to generate 800 million baht

    The Tourism Authority of Thailand (TAT) unveiled a new initiative to invigorate the country’s tourism sector with the Charming Thailand: 5 Regions event series. Announced by TAT Governor Thapanee Kiatphaibool, this campaign aims to highlight Thailand’s cultural heritage and modern attractions through a series of large-scale events, expected to draw over 147,000 visitors and generate more than 800 million baht…

  • Pattaya NewsPattaya gears up for 61st OSEAL Lions Forum this November

    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 NewsThailand to speed up 145 billion baht digital wallet handout

    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 NewsBangkok jewellery fair set to sparkle with 3.5 billion baht in revenue

    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…

  • Thailand News10.5 million sign up for Thailand’s digital wallet scheme in six hours

    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…

  • Business NewsThailand’s walking tourism boosts local culture, sustainability

    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 NewsThailand’s economy to grow 2.7% this year

    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,…

  • Business NewsTransport Ministry execs visit Phuket to boost economic development

    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…

  • Business NewsThailand disburses 3.48 trillion baht budget to boost economy

    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 NewsThailand and Malaysia aim for 1 trillion baht trade by 2027

    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 NewsNortheast plans NEC to boost economy at mobile Cabinet meeting

    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…

  • Thailand NewsThailand unveils 3.75 trillion baht budget bill to boost economy

    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 NewsThailand eyes MICE supremacy in Southeast Asia

    Thailand eyes MICE supremacy in Southeast Asia

    Thailand is pulling out all the stops to become the epicentre of MICE tourism in Southeast Asia, with Vietnam emerging as a potential powerhouse partner. This ambitious vision, spearheaded by Puripan Bunnag, Senior Vice President of the Thailand Convention and Exhibition Bureau (TCEB), aims to harness the post-pandemic resurgence in the MICE sector to bolster Thailand’s economy. “The MICE segment…

  • Thailand NewsThailand’s Pride Month to attract 860,000 visitors

    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 NewsThai halal boom targets 84 trillion baht market

    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…

  • Thailand NewsAlipay+ partners with TAT to redefine travel experience

    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…

  • Thailand NewsThai govt’s digital wallet project: A cash splash on the horizon

    Thai govt’s digital wallet project: A cash splash on the horizon

    The Government of Thailand is still finalising its digital wallet project, a financial aid initiative which promises a 10,000 baht disbursement to eligible citizens. The specific criteria for eligibility include an age threshold, and a deposit cap to ensure the aid reaches those intended. Citizens who are 16 years old as of September 30 of this year, or born before…

  • Business NewsIBM Thailand Director emphasises AI’s impact on economy

    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 NewsBrewing herbal revolution: Thai herbs poised to spice up global markets

    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 NewsBank of Thailand likely to cut policy rate, predicts CIMB Thai Bank

    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 NewsParliament in favour of legalising gambling to boost economy

    Parliament in favour of legalising gambling to boost economy

    The House of Representatives voted in favour of legalising gambling while boosting the nation’s economy. The special commission championing the creation of integrated entertainment complexes unveiled its plan, urging the government to join hands with the private sector. The commission stressed that public involvement is key, advocating for the legalisation of specific gambling forms like Thai boxing to drive this…