economy
- Thailand News
Thailand targets global animal feed market
The Government of Thailand is spearheading a move to become a global leader in the production and export of animal feed, focusing on quality assurance and safety to cater to the global market. The initiative is expected to generate an economic value of up to 300 billion baht. Chai Watcharong, the spokesperson for the Office of the Prime Minister, announced…
- Thailand News
Food for thought: Thai restaurant operators adopt new strategies
The increasingly competitive nature of Thailand’s food industry has spurred restaurant operators to adopt inventive strategies. They are now focusing on adapting to shifts in consumer preferences and lifestyle changes, ensuring their businesses remain competitive and continue to grow, as noted by the leader of a prominent conglomerate. Nath Vongphanich, who heads Central Restaurants Group, estimated the restaurant market in…
- Thailand News
Thailand revolutionises agriculture with nine policies
Thailand is gearing up for an agricultural revolution with nine bold policies aimed at transforming its farming sector into a global powerhouse. Thailand’s Minister of Agriculture and Cooperatives, Thamanat Prompow, unveiled these game-changing strategies during a seminar geared towards positioning Thailand as a premier destination for agriculture and food. Backed by Prime Minister Srettha Thavisin’s visionary Ignite Thailand agenda, these…
- Thailand News
Government’s debt hike prompts caution from agencies
Ratings agencies issued cautionary statements following the surprise decision this week by the government to increase its debt in a bid to stimulate the economy. The move, which may compromise the government’s fiscal consolidation efforts, is likely to stimulate short-term growth. The medium-term budget plan was revised by the Cabinet on Tuesday, causing a rise in the deficit next fiscal…
- Thailand News
Minimum wage rises to 400 baht in 10 Thai provinces
The minimum wage in selected areas of 10 Thai provinces is set to rise to 400 baht per day, as decreed by the tripartite wage committee yesterday. This new wage increase, which comes into effect on April 13, will apply to tourism-related businesses and four-star hotels with a staff of 50 or more. Pairoj Chotikasathien, the committee’s chairman and permanent…
- Thailand News
Can Thailand achieve high-income status by 2037? (video)
As Thailand steers towards high-income status by 2037, a formidable obstacle looms large: rampant flooding wreaking havoc on its economy. In an exclusive interview with Thai PBS World, the World Bank unveils a groundbreaking strategy to expedite flood management, potentially transforming Thailand’s economic landscape. Read on to discover the game-changing insights and bold plans set to redefine Thailand’s future. Amid…
- Thailand News
TCC proposes temporary power tariff reduction for Thai households
The Consumers Council (TCC) has proposed a temporary reduction in power tariffs to alleviate the financial strain on Thai households during the summer’s peak demand. This request follows the Energy Regulatory Commission’s (ERC) suggested alterations to the current power rate, which critics argue would not result in cheaper electricity bills. Critics contend that the ERC’s adjustments primarily aim to lessen…
- Thailand News
Stagnant trade and closed doors shake Bangkok’s New Chinatown
Dubbed the “New Chinatown of Bangkok,” Pracharat Bamphen Road, once teeming with Chinese hot pot restaurants and bustling shops, is now shrouded in a veil of uncertainty. Several Chinese eateries have succumbed to the fierce battleground of competition, exacerbated by a decline in Chinese tourist footfall since the Covid-19 pandemic. While there’s been a slight uptick in numbers, it’s a…
- Tourism News
Centara sets on becoming Top 100 global hotel operator by 2027
2024 is set to be a momentous year for Centara Hotels & Resorts, Thailand’s leading hotel operator. The company is rolling out an ambitious plan to open new properties, refresh its brands, and introduce exciting experiences for guests, aiming to become a top destination for travellers and one of the world’s leading hotel operators by 2027. Centara laid solid foundations…
- Thailand News
Thai envoy unveils plan for Taiwanese investment boom
In an exclusive interview with CNA on Tuesday, the executive director of the Thailand Trade and Economic Office (TTEO), declared the nation’s readiness for an influx of Taiwanese investment, particularly in electronic manufacturing and construction projects. Narong Boonsatheanwong highlighted Thailand’s emergence as a Southeast Asian electronics manufacturing powerhouse, with a burgeoning global reputation for printed circuit board (PCB) production. Drawing…
- Thailand News
Thailand’s digital wellness revolution boosts revenue
Thailand’s Industry Ministry is spearheading a digital revolution aimed at boosting revenue for the nation’s wellness and medical business entrepreneurs. With the ambitious target of surpassing 30 million baht in revenue, this initiative promises to reshape the landscape of Thailand’s tourism and economy. Under this visionary scheme, the ministry is equipping businesses with cutting-edge digital equipment and technologies, propelling them…
- Thailand News
Thailand’s revamped tax system promises economic boost
In a bid to shield the public from economic turmoil, Thailand’s Finance and Interior Ministries have unleashed a slew of reforms, spearheaded by Paopoom Rojanasakul, secretary to the finance minister. Addressing a high-profile property seminar, Paopoom asserted that the proposed alterations to the land and building tax are geared towards bolstering collection efficiency and ensuring a fair tax rate. “We…
- Thailand News
Over 147,000 sign up for debt relief programme worth billions
Some 147,714 individuals have registered for the Interior Ministry’s debt relief programme within the past three months, an initiative aimed at combating a staggering debt value of 10.74 billion baht, confirmed Permanent Secretary Suttipong Juljarern on Monday. With the registration window, which started on December 1, set to close tomorrow, Suttipong urged those grappling with debt woes to expedite their…
- Thailand News
Thailand’s potash push: Prosperity or peril?
As Thailand eyes a leap into the lucrative potash market, concerns loom large over the potential environmental havoc it may unleash. Residents in the vicinity of Thailand’s solitary commercial potash mine have raised a chorus of apprehension, cautioning against Prime Minister Srettha Thavisin’s grand vision to catapult the nation into a leading potash producer. Their concerns centred around the likely…
- Thailand News
Vietnam’s rice exports soar towards 178 billion baht milestone
Vietnam’s rice sector is projected for a remarkable milestone of US$5 billion (approximately 178 billion baht) in turnover. Anticipating a rollercoaster ride in the global rice market, experts emphasise the pivotal role of innovation and adaptable export strategies in propelling Vietnam towards its ambitious growth targets. The Ministry of Agriculture and Rural Development underscores the industry’s resilience despite a shrinking…
- Thailand News
Thai poultry exports soar, feathering their cap as world’s third-largest
With over 100,000 tonnes of chicken valued at a staggering 100 billion baht shipped abroad last year alone, Thailand has secured its spot as the world’s third-largest exporter, trailing only behind Brazil and the US. Thailand’s poultry industry has been on an upward trajectory, with Chaweewan Kampa, President of the Poultry Promotion Association of Thailand, hailing the nation’s climb to…
- Press Room
ROSHI unveils groundbreaking insights into personal lending trends
Singapore-based Fintech ROSHI has released a detailed analysis that talks about what types of individuals use personal lending services to tackle financial pressures over 2023’s high inflation economy. This meticulous study utilised first-party application data to delve into the profile characteristics and utilisation patterns of numerous Singaporeans who sought personal loans from ROSHI to mitigate income disparities during the past…
- Business News
Samsung’s Galaxy S24 series boasts strong pre-orders in Thailand
Thai Samsung Electronics’ Vice-President of Mobile Experience, Sitthichoke Nopchinabutr, expressed confidence in the company’s position in Thailand’s competitive smartphone segment. This follows the recent launch of Samsung’s Galaxy S24 series, equipped with advanced artificial intelligence (AI) capabilities. Sitthichoke revealed that the volume of pre-orders for the S24 series places Thailand among the top five markets globally. Moreover, it leads to…
- Thailand News
Thai hotels hit hard as property tax breaks end
Thai hotels are facing an uphill battle this year as the government pulls the plug on property tax reductions and energy prices soar, sending operating costs skyrocketing by 10%. Marisa Sukosol Nunbhakdi, the President of the Thai Hotels Association (THA), reveals the dire consequences for hotel owners who enjoyed a 90% tax discount in 2020-21, only to see it evaporate…
- Business News
SET index may drop below 1,300 due to digital wallet handout
The Stock Exchange of Thailand (SET) index could potentially plummet below the 1,300-point mark this year, warns the CEO of One Asset Management (ONEAM), Pote Harinasuta. This alarming projection is associated with the government’s proposed digital wallet handout which could result in Thailand’s credit rating being downgraded and a subsequent hike in corporate borrowing costs. Key factors that could influence…
- Business News
Thai baht heads for poorest January since 2020
The Thai baht, after experiencing a nearly 4% loss compared to the US dollar, is on track for its poorest January performance since 2020. The currency’s downfall signals further challenges ahead, given the significant outflows. Emerging Asia’s top-performing currency in the fourth quarter turned into this year’s biggest loser as global funds avoid Thai assets. This comes amid a dispute…
- Guides
Mastering gold trading in Thailand: Techniques and insights
Gold trading in Thailand requires a combination of local market knowledge, global economic insights, and the implementation of advanced trading techniques. For those interested in trading gold in Thailand, mastering a variety of strategies and staying informed about market dynamics are key to success. Understanding the Thai gold market The Thai gold market is unique, with its own set of…
- Guides
Harnessing advanced techniques for gold trading in global markets
Trading gold has been a cornerstone of global financial markets for centuries, standing as a symbol of wealth, stability, and a safe haven for investors. In the contemporary landscape, the dynamic nature of markets demands a sophisticated approach to gold trading, leveraging advanced techniques to navigate the complexities and capitalize on opportunities. This guide delves into the realms of harnessing…
- Thailand News
Experts warn of looming crisis for Thai economy
Dr Pipat Leungnamritchai, the chief economist at Kiatnakin Phatra Bank warned that the Thai economy is treading on thin ice, relying on unsustainable factors for growth. According to a recent exposé by Krungthep Thurakij on January 20, the nation’s financial stability is hanging by a thread. Dr Pipat highlighted the precarious reliance on low-interest rates, fiscal stimuli, and the booming tourism…
- Thailand News
Hotel bookings skyrocket as visitors flock in
Hotel giant Minor International Plc witnessed an astonishing 20 to 30% spike in bookings for the first two months of 2024 compared to last year. Minor International Plc, dominating the hospitality scene as the nation’s largest hotel operator, is on the brink of a prosperous year. Chairman Bill Heinecke unveils the exciting news, projecting a tourism spending spree in Thailand…
- Thailand News
Electricity bills set to stay steady despite global turmoil
In an exclusive update from the Energy Regulatory Commission (ERC), consumers can breathe a sigh of relief as Secretary-General Komkrit Tantravanich guarantees minimal disruption to household electricity bills. Komkrit reassures the public that from May through August, electricity rates will hover between 4.20 to 4.25 baht per unit. Moreover, this promising price stability is linked to a surge in natural…
- Thailand News
Thailand’s major negotiation tool to be AI at World Economic Forum
Prime Minister Srettha Thavisin is set to unleash Thailand’s secret weapon, artificial intelligence (AI), at the 54th World Economic Forum (WEF) in Davos. This year, the WEF is not just a meeting, it’s a battleground for global leaders navigating a world torn apart by geopolitics and AI advancements. Thailand’s 12th year at the WEF is more critical than ever, with…
- Thailand News
Thai PM denies hold up with digital wallet plan
The government remains undeterred as it stands firm on its 10,000-baht digital wallet scheme, scheduled for a May launch, despite legal challenges. Prime Minister Srettha Thavisin promised a consensus after seeking opinions from key players. “We stand by the original timeframe.” The Council of State recently weighed in on the legality of the government’s plan to borrow a hefty 500…
- Business News
Thailand’s Central Retail eyes potential investment in Selfridges
Central Retail Corp., a leading retailer in Thailand, indicated potential interest in investing in Selfridges, the renowned department store, given the right circumstances. The company outlined their investment criteria in a recent statement to the Thai stock exchange, stating that any new venture must align with its strategic business plan, be reasonably priced, and have optimal timing. The company made…
- Thailand News
Rice-rumble rocks markets: Thailand anticipates 15% export dip, global repercussions loom
In a rice-rumble that could shake global markets, Thailand’s rice exports are poised to plunge by a staggering 15% this year. Thailand, the rice heavyweight, is set to face a double whammy. Chookiat Ophaswongse, the honorary president of the Thai Rice Exporters Association, predicts a dip in demand from Indonesia, last year’s top buyer. “Indonesia, after its presidential election next…
