boost economy
- Thailand News
Thailand’s PM plans secondary city airport revitalisation to boost tourism
Prime Minister Srettha Thavisin’s recent plan to revitalise airports in secondary cities has been warmly received by tourism operators in Nakhon Ratchasima. The airport revitalisation proposal, aimed at driving up tourist arrivals and stimulating the economy, was announced yesterday. Local tourism promotion association’s leader, Pongthep Malachasing, sees this as a golden opportunity to invigorate Nakhon Ratchasima Airport. The airport, despite…
- Thailand News
Prime time for Thai tourism: Thailand’s new PM heads south for strategic talks
The new Prime Minister of Thailand is set to visit Phuket and Phang Nga this weekend to deliberate with local communities and seek input from the private sector on how to boost Thai tourism in the southern provinces, according to an announcement by the Phuket office of the Public Relations Department (PR Phuket). Prime Minister Srettha Thavisin and the tourism…
- Economy News
Pheu Thai leadership welcomed by tourism operators
The Pheu Thai political party’s potential leadership of the Tourism and Sports Ministry has been warmly welcomed by tourism operators. This development arises from growing speculation around the formation of the new Cabinet. Numerous news outlets suggest that the ministry might transition from the Bhumjaithai Party to Pheu Thai. Adith Chairattananon, the honorary secretary-general of the Association of Thai Travel…
- Thailand News
Phuket Chamber President awaits PM’s swift action on 3000 million baht projects
Phuket’s Chamber of Commerce President is keenly awaiting the immediate action of Thailand’s 30th Prime Minister, Srettha Thavisin. There are a myriad of pressing issues regarding Phuket projects waiting to be addressed. Kongsak Khupongsakorn, confident in his province’s ongoing economic development, is ready to collaborate with all political parties. Regardless of who assumes the role of prime minister or even…
- Thailand News
Central Retail and Ant Group introduce Alipay+ for Asian tourists in Thailand
Central Retail Corporation Limited (CRC) in collaboration with Ant Group has introduced Alipay+, a comprehensive international digital payment platform. The service launched by Piyawan Leelasompop, Deputy Managing Director of Marketing at CRC, facilitates seamless transactions for Asian tourists from China, Hong Kong, Malaysia, and South Korea through their existing local mobile wallets. The tie-up with Ant Group will enable visitors…
- Thailand News
Thai NHSO launches homegrown rubber prosthetic fistula, expects 540 million baht savings
Moving towards medical self-sustainability while concurrently conserving expenses, Thailand’s National Health Security Office (NHSO) has come up with an innovative solution. The NHSO has launched a new, locally made prosthetic fistula prepared from natural rubber for those participating in the Universal Healthcare (UHC) programme, also commonly referred to as the “gold card” scheme. This new initiative aims at reducing the…
- Economy News
ASEAN bolsters talks with UK, Russia for potential economic cooperation plans
In an attempt to further drive economic cooperation, Southeast Asia, through the Association of Southeast Asian Nations (ASEAN), is accelerating its dialogue with the United Kingdom and Russia. This information was released by Auramon Supthaweethum, the head of the Trade Negotiations Department. A senior official from the department, Duangarthit Nidhi-u-tai, was sent to represent the region at the 4th ASEAN-UK,…
- Business News
Penny-pinching plans: Finance ministry’s welfare budget shuffle in the works
In an attempt to ease the strain on government spending, the Ministry of Finance is contemplating new measures regarding the allocation of the public welfare budget, an anonymous source from the finance ministry disclosed. This primarily pertains to the bracket of public welfare budget expenditure which, the source identifies, consists of redundant items that do not necessarily correlate with the…
- Economy News
Thai tourism unaffected by political unrest unless airports shut, says ex-minister
In times of political upheaval, Thailand’s foreign tourists would not be significantly impacted, unless there was an incident akin to 2008’s airport disruption, according to former tourism and sports minister, Weerasak Kowsurat. Back in 2008, protesters had shut down Bangkok’s airports leading to a drop in tourist visits, impacting Thai tourism. Weerasak, now serving as a senator, insists that tourists…
- Economy News
Thai tourism surge: 25 million visitors forecasted, boosting economy
In a recent announcement, the Thailand is on track to welcome a staggering 25 million tourists by the year end, offering a much-needed booster to the economy. This follows a significant surge in Thai tourism, exceeding 12 million arrivals recorded late last month, as relayed by deputy government spokesperson Traisuree Taisaranakul. Between January and June 25 of this year, the…
- Business News
Customs facilitation reform urged by Thailand’s finance minister to boost automotive sector
Finance Minister Arkhom Termpittayapaisith recently issued an appeal to the Customs Department of Thailand to streamline the customs facilitation formalities for both exports and imports. His appeal is aimed especially at boosting the activity of the automotive field. Following a discussion held with a group of investors from Japan in the core of June, Arkhom instructed the department to better…
- Business News
Digital infrastructure to revolutionise Thailand’s capital market
A revolutionary digital infrastructure has been established in Thailand’s capital market, following collaborative efforts by the Stock Exchange of Thailand, the Association of Thai Securities Companies, and the Thai Bankers’ Association. The state-of-the-art system, aimed at fully electronic end-to-end bond offerings, was presented in an attempt to enhance the Thai market’s efficacy and transparency. This dynamic solution covers a broad…
- Thailand News
International filmmaking boosts Thai movie sector with 1.84 billion baht earnings from shoots
Thailand has seen a prosperous influx of international filmmakers in the first half of this year with over 200 foreign films being produced in the country, according to Deputy Government Spokesperson, Tipanan Sirichana, who spoke about the matter yesterday. This number has resulted in a staggeringly high revenue of approximately 1.84 billion baht, signalling a successful outcome of the Thai…
- Economy News
Fitch ratings reveal Thailand’s economic recovery to boost corporate earnings in 2023
Recovery of the domestic economy and alleviation of inflationary pressures are set to bolster the performance of corporations in Thailand this year, suggest analysts from Fitch Ratings during the 2023 Thailand Corporate Credit Outlook & Asean ESG conference, held recently in Bangkok. Corporates at Fitch Ratings (Thailand)’s Lertchai Kochareonrattanakul, a senior director, indicated in his talk that a boost in…
- Economy News
Thai economy booms as government’s fiscal income beats projections with 122bn baht surplus
The Thai economy demonstrates strong recovery and active imports as the Thai government’s net income during the first two-thirds of fiscal 2023 has surpassed projections by 122 billion baht, revealed Fiscal Policy Office Director-General, Pornchai Thiraveja, 42 years old. Between October 2022 and May 2023, the Thai government raked in a total of 1.64 trillion baht, which is an 8%…
- Economy News
Thai tourism-linked businesses experience booming growth amid economic recovery
Amid escalating tourist arrivals and robust economic recovery, Thai tourism-associated enterprises have been reaping lucrative rewards, particularly in the fields of foreign exchange, travel agencies, tour guides, dining establishments, and the accommodation industry. Such industries have experienced impressive growth within the initial five months of this year, as revealed by data garnered through the Business Development Department of the Commerce…
- Thailand News
Thai economy stimulus: Government plans 1.9 trillion baht boost during government transition
Thailand’s National Economic and Social Development Council (NESDC) unveiled plans to inject 1.9 trillion baht into the Thai economy to bridge the gap before the new government can budget for the year 2024, emphasising fiscal reforms and monitoring household debt. Secretary-General Danucha Pichayanan highlighted the need for industry restructuring and government action in response to shrinking exports, which is affecting…
- Business News
Thailand investments attract 45 billion baht in foreign funding
In the first five months of 2023, Thailand received foreign investments amounting to 45.4 billion baht, with Japan being the largest spender in the development of businesses in the country. The figures released by the Commerce Ministry show Japan’s investments reaching 15.9 billion baht, followed by China at 11.5 billion baht, and Singapore at 6.35 billion baht. The Business Development…
- Business News
PSP Specialties plans IPO on Thai stock exchange for growth boost
Thailand’s leading lubricant producer, PSP Specialties Plc, is preparing for an initial public offering (IPO) to boost its business growth. The company plans to offer 350 million shares, approximately 25% of its total shares, on the Stock Exchange of Thailand. The price per share is yet to be determined, with a roadshow in the works to promote the company. CGS…
- Business News
Chinese tourism boost: TAT aims for 5 million visitors despite real estate woes
Despite concerns surrounding China’s current real estate market downturn, the Tourism Authority of Thailand (TAT) remains optimistic about its prospects of attracting 5 million tourists from the Asian country in 2021. As travellers continue to save for overseas trips during the ongoing pandemic, TAT governor Yuthasak Supasorn anticipates Chinese tourism will see a surge, with Chinese tourists will be eager…
- Business News
China-Africa Expo to boost trade, explore emerging sectors
The upcoming third China-Africa Economic and Trade Expo, set to take place in Changsha from June 29 to July 2, is expected to further enhance economic and trade cooperation between China and Africa. The expo, which occurs every two years in Hunan Province, has gained significance as a platform under the Forum on China-Africa Cooperation framework. China currently holds the…
- Economy News
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…
- Thailand News
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…
- World News
Southern Thai tourism seeks eased regulations for Malaysian tour buses
The tourism association representing 14 southern provinces in Thailand has urged the Transport Ministry to relax regulations, allowing Malaysian tour buses to travel beyond the border province of Songkhla. This move could potentially stimulate the region’s economy through promotional campaigns, as discussed at a recent forum on tourism organised by the National Economic and Social Development Council (NESDC). Jarun Kaewjeesub,…
- Economy News
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 News
PM announces the distribution of 3,500 baht to help during Covid outbreak
PM Prayut Chan-o-cha announces the 3,500 Baht distribution to help people financially affected during this second major outbreak of Covid-19, including informal workers, freelancers, and the unemployed. At the same time, the government will also help reduce the cost of living expenses of all households nationwide including electricity and water bills in February and March. Special internet packages will also…
- Economy News
Economic think tank says shopping stimulus will only help in the short-term
The research division of Kasikorn Bank says while the government’s planned shopping stimulus has its advantages, the benefits will only be short-term. The Kasikorn Research Centre points out that the scheme, which it’s hoped will run from October 23 to December 31, will only provide a temporary boost to the economy. The stimulus measure, which is being put to the…
- Economy News
Finance Ministry mulls stimulus packages to boost property sector, consumption
The new permanent secretary at the Finance Ministry, Krisada Chinavicharana, says officials are considering additional stimulus measures to support Thailand’s property sector and to further boost consumer spending. Krisada says he plans to meet with senior officials to debate more ways to get the economy going again, as the impact of the Covid-19 pandemic continues to make itself felt. He says…
- Bangkok News
First airplane food cafe, now Thai Airways opens fried dough stand
Since not much is happening in the air, Thai Airways is running new business schemes on the ground. For their newest venture, the company opened a deep fried dough street food stand. They say the fried dough with taro custard is an “award winning” recipe. Thai Airways has already opened a pop-up restaurant serving “in flight” food to customers seated…
- Economy News
Government approves new stimulus measures for labour market, tourism
The Centre for Economic Situation Administration has given the go-ahead to a number of new stimulus measures proposed by the Finance Ministry and aimed at the jobs market and the domestic tourism sector. PM Prayut Chan-o-cha yesterday presided over a meeting with Danucha Pichayanan from the National Economic and Social Development Council, where officials approved new measures it’s hoped will…
