economy
- Economy News
Thailand’s labour ministry hopes to export 50,000 workers
Now that the Covid-19 situation across the world has calmed down a bit, Thailand’s Labour Ministry expects to send about 50,000 workers abroad this year. The Department of Employment’s PR office said now that restrictions have largely eased, Thailand’s labour exports are set to resume in large numbers. So far, labour export agreements have been signed with two countries, Saudi…
- World News
Amidst Indonesia palm oil crisis, farmers support export ban
Amidst an ongoing surge in the crude price of palm oil, Indonesian farmers support the country’s palm oil ban set to begin on April 28. While some politicians have criticized the ban, Indonesia’s Oil Palm Farmers Union said today that the ban is a “temporary ban” necessary for supply and affordability of cooking oil in the domestic market. Last month,…
- Economy News
Thai commerce chairman welcomes end of PCR test requirement
Following the announcement for major changes to Thailand Pass, a commerce leader is giving the government a great big thank you. Yesterday, the chairman of the Thai Chamber of Commerce, Sanan Angubolkul, thanked the government for getting rid of mandatory RT-PCR tests for visitors on arrival, starting May 1. “The private sector believes the decision will help trade, investment, services…
- Phuket News
Former Phuket prison to transform into spooky tourist attraction
An old Phuket prison no longer housing inmates is now set to become a spooky tourist attraction, providing visitors with a “Twilight Zone” experience. Phuket Prison was built in Phuket Town about 120 years ago, and Phuket officials now plan to turn it into a ‘live museum’ to teach both tourists and locals about its history. In addition to the…
- Economy News
Thailand’s diesel price expected to spike starting May 1
Even though Thailand’s energy minister vowed last month to keep the 30 baht per litre cap on diesel prices until the end of May, officials now expect the diesel price to start pushing 35-36 baht per litre by the start of May. The director of the Energy Policy and Planning Office says all agencies have been instructed to plan how…
- Phuket News
Another Phuket event to draw tourists will have mini hot air balloons
Phuket officials plan yet ANOTHER event to draw in tourists and rake in cash for locals devastated by the government’s reaction to Covid-19. This upcoming event, called “Phi Muang Nong’s House” will be held Friday through Sunday, April 22-24, from 5pm onwards, at Sarasin Bridge… the 300 metre bridge which connects mainland Phuket and Phang Nga. What’s the event’s main…
- Economy News
Thailand’s Prayut to hold public forum on economy
Thailand’s PM Prayut Chan-o-cha announced yesterday at a cabinet meeting that the government will hold a public forum on the economy. The date for the forum has not yet been announced. PM Prayut said the government is trying to ensure better welfare for elderly citizens and vulnerable groups in Thailand. He said it wants to introduce measures to help medium-sized…
- Economy News
Will Milli’s mango stunt help Thailand’s farmers?
After budding Thai rap star “Milli” ate a bowl of sticky rice and mango onstage in front of a crowd of hundreds of thousands at California’s Coachella festival, Thailand’s mango farmers might rake in some dough. Despite being the largest exporter of mangoes in the world, Thailand has had problems with mango shipment due to Covid-19. Sayan Bunying, president of…
- World News
South Korea is the most expensive country to raise kids
South Korea is the most expensive country in the world to raise children from birth to age 18, according to research from Jefferies Financial Group. On the list of 14 countries Jefferies researched, South Korea is followed by China, then Italy. Jefferies’s analysts reported some differences between Asian and Western cultures that might be a factor in South Korea and…
- World News
Pakistan’s Imran Khan ousted from PM position
Following a parliamentary vote of no confidence last week, Pakistan’s PM Imran Khan has been ousted. The vote came after Pakistan’s opposition parties accused Khan of economic mismanagement, as well as poor governance. The country’s Supreme Court ruled on Thursday that a decision to block the no confidence vote was unconstitutional. Now, Khan claims that opposition to him is backed…
- Economy News
Songkran: Academics predict 10 year low in festival spending this year
Thailand academics predict the public’s spending during next week’s Songkran holiday will be the lowest in 10 years. An associate professor at the University of the Thai Chamber of Commerce said he expects people to spend around 106 billion baht altogether across Thailand this year. This will be 5.4% less than last year, when public spending was recorded at about…
- Thailand News
Thailand inflation jumps 5.7 percent in March, hits consumers’ wallets hard
In March, Thailand’s inflation saw its highest monthly jump in 13 years, rising to 5.73% year on year. That’s according to the Commerce Ministry’s Office of Trade Policy and Strategy, which pins the blame on the war in Ukraine, which has pushed up fuel, food and electricity prices. This unexpected turn of events has caused the office to adjust its…
- Thailand News
Thailand’s finance ministry closes 2 insurance firms due to Covid-19 claims
After an overwhelming number of Covid-19 claims caused 2 of Thailand’s insurance providers to owe billions of baht in compensation, Thailand’s finance minister has revoked the providers’ business licenses. The decision was made effective yesterday. One provider, Southeast Insurance, owes 13 billion baht in compensation, while the other, Thai Insurance, owes 4.6 billion baht. The Secretary-General of the Office of…
- Thailand News
Expected computer shortage in Thailand, world
IT workers expect a shortage of computers for sale in Thailand to start between May and June due to Covid-19 impacting producers in China. The chief of sales and marketing at Advice, an IT distributor, told the Bangkok Post that if China’s lockdown continues, as well as the Russia-Ukraine war, computer prices will likely rise. The chief of Advice said…
- Phuket News
Phuket to become world class medical tourism hub by 2028
PM Prayut Chan-o-cha plans to turn Phuket into a world-class hub of medical tourism by 2028, according to a spokesperson for the prime minister. An international medical and public health service centre called “Medical Plaza” is planned, complete with an international elderly care centre, a palliative care centre and a rehabilitation centre. Thailand’s medical and public health services have been…
- Phuket News
Phuket Sandbox generates 50 billion baht revenue, PM Prayut happy with outcome
While some called it a failure, PM Prayut Chan-o-cha is pleased with the outcome of the Phuket Sandbox programme, which generated 50 billion baht in tourism revenue for the local economy, according to a spokesperson for the prime minister. In light of the challenges the Covid-19 pandemic presented to the Thai tourism industry, the spokesperson says Prayut has emphasised that…
- World News
Amidst shortage, cooking oil ‘mafias’ form in Indonesia
As the global price on crude palm oil surges, Indonesia faces a shortage of cooking oil. The Russia-Ukraine crisis has impacted the supply of vegetable oil in Indonesia, making palm oil more expensive. In November last year, the global CPO price was about US$1,300 per tonne. Now, it’s US$1,600 per tonne. Indonesian authorities tried to enforce one price, 14,000 rupiah…
- Phuket News
Upcoming seafood festival at Nai Yang Beach this Friday and Saturday, Phuket
Phuket’s Roi Rim Lay seafood festival will be hosted at Nai Yang Beach this coming weekend on Friday and Saturday. The festival will start at 4pm on Friday, and end at 11pm on Saturday, March 25-26. The festival will host over 100 food stands, live ‘Luk Thung’ Thai folk music, and cooking competitions with chili paste and grilled seafood. The…
- Press Room
ADB reports Southeast Asian countries well-positioned to bounce back from COVID-19
Press Release The coronavirus disease (COVID-19) pandemic pushed 4.7 million people in Southeast Asia into extreme poverty in 2021, as 9.3 million jobs disappeared, compared with a baseline no-COVID scenario, according to a new Asian Development Bank (ADB) report presented at the Southeast Asia Development Symposium (SEADS). The Omicron wave could cut the region’s economic growth by as much as…
- Thailand Travel
UNESCO awards Petchaburi culinary scene, now it’s a hotspot in Thailand
UNESCO named Petchaburi a Creative City of Gastronomy in November last year, as part of its creative cities network. Now, the city continues to draw income from food tourism and locally produced ingredients. The Petchaburi provincial governor said ingredients local artisans use in their food are entirely produced in the province. “That means all the production capital used to create…
- Economy News
Thailand’s power will be more expensive in May
From May until August, Thailand’s electricity price will rise to four baht per kilowatt hour, going up by 0.23-1.3 baht per unit. The country’s Energy Regulatory Commission is raising fuel tariffs following Russia’s invasion of the Ukraine. An ERC spokesman said another reason for the price surge is the declining supply of natural gas from the Gulf of Thailand. Russia’s…
- World News
1,000 Thais register to apply for jobs in Saudi Arabia
Thai and Saudi officials say labour relations between their countries are strengthening following renewed relations. Thailand’s labour minister said over 1,000 people have registered online with the Department of Employment to apply for jobs in Saudi Arabia. He claimed the final remaining step is signing a bilateral labour agreement, which is expected to occur soon. The agreement will allow Thailand…
- World News
United States trade dispute on solar products from Thailand, Southeast Asia
Projects in the United States might freeze over a recent dispute on solar panels imported from Thailand, Malaysia, Vietnam, and Cambodia. Even though these countries supply the United States with about 80% of its solar imports, the United States’ Commerce Department is scheduled to probe whether the solar products are circumventing tariffs. The probe is over whether Chinese manufacturers are…
- World News
Kanchanaburi fishery official allegedly smuggled migrants from Myanmar
Police caught a fishery official at a checkpoint in Kanchanaburi province allegedly smuggling three migrant women from Myanmar into Thailand. Police say the official confessed to illegal transporting the women across the border. All were taken to Muang district police for legal proceedings. The Burmese women were charged with illegal entry and the official with helping foreigners enter the country…
- Economy News
Federation of Thai Industries wants gov to scrap Test & Go, stop fuel price crisis
The Federation of Thai Industries has called on Thailand’s government to scrap the Test & Go scheme, and stop the ongoing fuel price crisis. On Thursday, the president of the federation suggested easing Test & Go to support tourism and a recovery for the Thai economy. The FTI suggested that Thailand only require fully vaccinated travellers to show proof of…
- Thailand Travel
TAT says Phuket is ready for boat tourists
After four Indonesian tourists arrived in Phuket on a yacht on Tuesday, the Tourism Authority of Thailand Phuket says the island is ready to welcome back boat tourists. The people who arrived on Tuesday were the first tourists to arrive in Phuket under Test & Go’s new extension for sea tourists, which started on March 1. Under the policy, sea…
- Economy News
As Thailand’s fuel prices spike, stockpile raised
As Thailand’s fuel prices continue to spike, officials have announced that the government will extend fuel stockpiling. Thailand’s Deputy PM and Energy Minister said in a meeting yesterday that the government has instructed oil companies to extend stockpiling of oil reserves from 60 to 70 days to help defuse a pending crisis. He said Thailand will keep its policy of…
- Thailand News
SEADS 2022: New ADB study on ‘Southeast Asia rising from the pandemic’
Press Release KEY TAKEAWAYS SEADS 2022 will be headlined by experts in government, development, and the private sector to discuss novel approaches that can help countries build back better from the pandemic. #SEADS2022 will focus on actionable solutions supporting three lynchpins of the region’s recovery: addressing debilitating supply chain bottlenecks; rejuvenating the region’s once-flourishing tourism industry, and advancing digital transformation.…
- Economy News
Prices for instant noodles, condensed milk to rise next month
Prices for instant noodles and condensed milk are set to rise next month as the Ukraine-Russia conflict has affected imports and exports in Thailand, according to the Ministry of Thai Commerce. The ministry says that the situation could cause inflation, but says the state would try to control the price of food and necessary products as much as possible. Commerce…
- Thailand News
Thais can now work in Saudi Arabia
As of yesterday, Thai workers can now work in Saudi Arabia, and will be protected by Saudi laws. Thailand’s cabinet approved two draft agreements about this yesterday, which will last for five years. They will be extended for another five years unless one or both parties decide against it. Both countries will cooperate to make sure recruitment and employment is…
