economic
- Thailand News
Thailand revives trade with Pakistan in major economic pact
After a decade of silence, Thailand and Pakistan are back at the negotiating table, reigniting hopes for a booming trade partnership. The two nations have agreed to resume talks under their Joint Trade Committee (JTC) at the ministerial level, with Thailand hosting the next round of discussions later this year. In a recent meeting between Thailand’s Minister of Commerce, Pichai…
- Business News
Thai economy forecast: 109 billion baht boost from consumer spending
Predictions for the new year indicate a robust economic circulation of 109 billion baht, driven by consumer spending, according to findings from the University of the Thai Chamber of Commerce (UTCC). While this suggests a positive economic trend, many individuals remain cautious with their expenditures. The UTCC’s survey, conducted recently, highlights an anticipated 3.2% increase in spending compared to last…
- Pattaya News
Pattaya’s ongoing struggle of managing railway road traffic
Traffic congestion along railway roads has become a persistent headache for Pattaya’s commuters, with years of attempted solutions failing to provide meaningful relief. The city’s struggle to manage vehicular flow has highlighted significant infrastructure challenges. Seeking to address the issue, Pattaya City administration took an innovative approach by leasing a 19-kilometre stretch of the road from the State Railway of…
- Pattaya News
Billion-baht investment boosts Pattaya’s Terminal 21 mall
The bustling beachside retreat of Pattaya is about to see its shopping scene taken to new heights. Land and Houses (LH), one of the country’s largest property developers, announced a massive 5.7 billion baht investment in its Terminal 21 Pattaya shopping mall, proving that the city’s economic potential is glowing as bright as its beaches. Terminal 21 Pattaya, which opened…
- Business News
Macro worries: Thai consumers feel the crunch, says PwC survey
Thai consumers are increasingly concerned about the impact of macroeconomic volatility on the country’s economic outlook, with 54% expressing significant worry, according to PricewaterhouseCoopers’ (PwC) latest survey. This prompted a shift towards spending more on essential goods. Social media has emerged as the preferred shopping channel, despite ongoing concerns about personal data leakage. The Voice of the Consumer Survey 2024:…
- Thailand News
Royal push for sustainable farming in East Pattaya
The Phueng Luang Asawin Foundation has unveiled an ambitious plan to turn hundreds of rai in Huay Yai, East Pattaya, into a sustainable agricultural powerhouse. Locals packed a community forum on Sunday, September 8 to hear the exciting details of a project that promises to revolutionise their livelihoods. The foundation, established by Mom Chao Pansawali Kitiyakara, mother of Her Royal…
- Thailand News
Thai trade talks push for expanded ASEAN market access
Thai representatives, led by Thatchayanpol Apimontechabutr, Deputy Director-General of the Department of Trade Negotiations, recently participated in the 11th ATIGA Upgrade Negotiation Trade Negotiating Committee (ATIGA-TNC) meeting in Malaysia. The meeting, held over four days, aimed to accelerate negotiations for a comprehensive conclusion by the middle of next year. The Thai Department of Trade Negotiations prioritises Free Trade Agreement (FTA)…
- Thailand News
Nine provinces miss reel deal, forcing Thai movie buffs to hit the road
Nine provinces in Thailand lack cinemas, forcing residents to travel to neighbouring regions to watch movies. The issue came to light recently when a netizen from Mae Hong Son expressed frustration about the lack of local cinemas, which sparked a broader discussion about social inequality and the economic viability of the cinema industry in these areas. The comment was made…
- Thailand News
Economic journalist programme highlights digital finance skills
The closing ceremony for the 18th annual Advanced Economic Journalist Development Programme (AEJDP) highlighted the theme Unlocking Financial Potential for Wealth in the Digital Age. The event was organised by the Economic Reporters Association in collaboration with Bangkok Bank and the University of the Thai Chamber of Commerce. Bangkok Bank’s Deputy Manager, Chaiyarit Anuchitworrawong, presided over the ceremony and awarded…
- Thailand News
PM urged to address economic issues affecting vendors
Market vendors are hopeful that Prime Minister Paetongtarn Shinawatra will prioritise addressing the nation’s economic challenges, as escalating costs are impacting their businesses. During a visit to Bang Lamphu Market in Khon Kaen’s Muang district yesterday, August 19, reporters gathered insights from vendors on their expectations from the newly appointed prime minister. The 29 year old, Wannida Nakcha, who sells…
- Business News
Bitcoin climbs above US$56,000 amid market turmoil
Bitcoin experienced a brief resurgence today, climbing back above US$56,000 amid a wider downturn in global markets that had caused significant losses across major cryptocurrencies. The leading digital asset saw an increase of up to 3.48% today, August 6, attempting to recover from a sharp selloff that had driven its value below US$50,000. Ether, the second-ranked cryptocurrency, also faced substantial…
- Thailand News
Thailand’s BOI opens first Saudi branch amid growing ties
Thailand’s Board of Investment (BOI) will inaugurate its first branch in Saudi Arabia this week, signalling a new chapter in economic relations between the two nations. The new office in Riyadh, opening this Sunday, July 14, marks a significant step in fostering investment and business growth. This strategic expansion has drawn high-profile attendees, including Foreign Minister Maris Sangiampongsa and over…
- Thailand News
PM Srettha scrambles to address economic woes
Thailand Prime Minister Srettha Thavisin has called an urgent meeting with his economic ministers next Monday in a bid to tackle Thailand’s sluggish economic growth. This move comes after a dismal first-quarter GDP report, which has sent shockwaves through the government and the public alike. In a Twitter post last night, the 62 year old Thai prime minister announced that…
- Business News
Johor, Singapore aim for Shenzhen-like economic zone
The Malaysian state of Johor suggested its economic and petrochemical centres as potential locations for a special zone with neighbouring Singapore. This proposal is part of Johor’s ambition to become the Shenzhen of Southeast Asia, according to the Star’s report. The proposed area will include Iskandar Malaysia and Pengerang, located on the state’s eastern coast, said Johor Menteri Besar Onn…
- Thailand News
Thai firms jointly build waste-to-energy power facilities
A strategic alliance has been formed between local power and waste management firms to jointly finance and construct 12 waste-to-energy power facilities and three refuse-derived fuel production plants. This initiative is aimed at bolstering the country’s bio, circular, and green economic strategies. Supawat Khunvoravinij, who is currently serving as the acting managing director of Earth Tech Environment, a waste recycling…
- Thailand News
Thailand and UK forge economic alliance
Deputy Prime Minister Phumtham Wechayachai and Lord Dominic Johnson of Lainston CBE, along with British Ambassador Mark Gooding, engaged in a diplomatic meeting to discuss economic collaboration between the UK and Thailand. The crux of Thursday’s discussions revolved around fortifying economic ties, amplifying trade relations, and fostering investment opportunities. This pivotal dialogue laid the groundwork for signing a Memorandum of…
- Thailand News
Thailand’s industrial ethanol: A game-changer in green economy?
Thailand is on the cusp of an industrial transformation as experts push for a major shift in ethanol production. Isares Rattanadilok na Phuket, Vice President of the Federation of Thai Industries (FTI) called to liberate the country’s ethanol potential, aiming to slash reliance on imports and catapult Thailand into a green economic powerhouse. The FTI has unearthed Thailand’s abundant capacity…
- Business News
Manufacturing production index dips in Thailand amid economic challenges
The Office of Industrial Economics (OIE) has reported a 2.94% year-on-year dip in the Manufacturing Production Index (MPI), falling to 99.2 points in January. This downturn is largely attributed to a range of economic challenges, most notably the highest level of car seizures in half a decade. The domestic automotive industry’s stagnation was a significant contributor to January’s MPI decline,…
- Business News
Thailand’s border trade faces slowdown amid regional politics
The Federation of Thai Industries (FTI) predicts a slowdown in Thailand’s border trade for the current year due to political turmoil in Myanmar and economic issues in other neighbouring nations. Myanmar, Laos, Malaysia, and Cambodia, nations that share borders with Thailand, are facing obstacles to their economic growth, says Montri Mahaplerkpong, the FTI Vice-Chairman. Among the challenges, he highlights the…
- Thailand News
Beauty pageant stock’s overvaluation concerns
The once-dazzling rally of Miss Grand International Plc (MGI), a beauty pageant organiser, appears to be losing its shimmer as concerns loom large over its increasingly stretched valuation. Since its inception in mid-December at 4.95 baht apiece, the stock catapulted by over 900%, ranking as the second-best performer among new listings in the Asia Pacific region over the past three…
- Thailand News
Thailand’s economy set for 3.3% growth amid global uncertainties
Thailand’s economy is projected to grow by 3.3% this year, despite vulnerabilities from international politics, foreign wars, and unrest in neighbouring countries. These factors pose risks to the nation’s export sector. Tawee Piyapatana, the Senior Vice President of the Federation of Thai Industries, expressed concerns after representing the chair at a Joint Standing Committee on Commerce, Industry and Banking (JSCCIB)…
- Thailand News
Rayong solar company lays off 800 amid financial woes
A prominent solar cell manufacturing company in Rayong has been forced to lay off a significant number of employees, totalling 800, affecting both day and night shifts. The layoffs come as a consequence of several months of financial strain where the company had deferred paying 75% of wages. The Chon Buri-Rayong News Page today reported that the company decided to…
- Business News
NocNoc leverages AI for personalised consumer experiences with IPO planned for 2028
NocNoc, the e-marketplace specialising in home products and services, leverages artificial intelligence (AI) to deliver personalised online and offline consumer experiences. The platform is expanding into new lifestyle categories to tap into the home and living market, estimated to be valued at around 450 billion baht. Better Bee Marketplace Co, the firm behind the platform, anticipates an initial public offering…
- Thailand News
Thailand’s economic growth labelled underwhelming by government
The economic expansion of Thailand in the previous year and the anticipated growth in the current year have been labelled as underwhelming by the government, referencing a report from the Fiscal Policy Office (FPO). The assertion was made by Chai Wacharonke, the government spokesperson, through a Line chat group created for communication with reporters from the Government House. The FPO…
- Thailand News
PM Srettha reassures public on Land Bridge megaproject amid concerns
Prime Minister Srettha Thavisin voiced his administration’s commitment to addressing the concerns of groups opposing the Land Bridge megaproject. Today, PM Srettha is visiting the proposed construction site in Ranong, where a mobile cabinet meeting is scheduled for tomorrow. The 61 year old Thai prime minister acknowledged the government’s shortcomings in effectively communicating the project’s economic advantages to international investors.…
- Thailand News
Globalisation twist: Economic growth sizzles but income inequality and carbon clashes cloud horizon
The evolution of globalisation, while contributing to worldwide economic growth, has also introduced new economic challenges including increased income inequality and market failures due to carbon emissions. This was the view expressed by Eric S Maskin, Adams University Professor at Harvard’s Department of Economics. Maskin, a 2007 Nobel Laureate in Economics for his work in mechanism design theory, shed light…
- Thailand News
PM Srettha discusses direct flights from Brussels to Bangkok at WEF
At the 54th World Economic Forum in Davos, Prime Minister Srettha Thavisin met Belgium Prime Minister Alexander De Croo to discuss stronger ties between the two nations at the Congress Centre on January 17. Coming out of the high-profile meeting, the prime minister-cum-finance minister pledged to explore the prospect of direct flights between Brussels and Bangkok with the involvement of…
- Business News
Thailand’s industrial sentiment index drops in December amid economic challenges
A recent announcement by the Federation of Thai Industries (FTI) revealed that industrial sentiment in Thailand took a downturn in December, recording a decline from 90.9 to 88.8. This significant drop was attributed to a combination of factors, namely the weakening spending power of consumers and prevailing export concerns. The FTI, which is responsible for tracking fluctuations in various business…
- Business News
Urgent call for faster use of investment budgets to boost the economy of Thailand
Business executives are urging the government to prompt state enterprises and local government organisations to speed up the use of current investment budgets and to roll out more stimulus packages. This is seen as a crucial step to propel the economy while awaiting the fiscal 2024 budget. The executives stress the importance of quick distribution of the 2024 budget once…
- Thailand News
PM Srettha to pitch Land Bridge megaproject at WEF
Prime Minister Srettha Thavisin is set to entice foreign investors towards the 1 trillion-baht Land Bridge megaproject during the World Economic Forum (WEF) which starts on Monday and concludes on Friday in Davos, Switzerland. PM Srettha will be accompanied by a team of cabinet ministers including Parnpree Bahiddha-Nukara, the Foreign Affairs Minister, and Transport Minister Suriya Jungrungreangkit, following an invitation…
