economy
- 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
Thailand’s price cap on diesel will last through May
In the midst of skyrocketing fuel prices around the world, Thailand’s diesel price cap at 30 baht per litre will last until the end of May. After that, a loan of 40 billion baht that supports the subsidy allowing the cap is expected to run out. Thailand’s deputy prime minister, who is also the energy minister, said the country must…
- 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.…
- Thailand News
Thai noodle price crisis averted
After some local media outlets reported that noodle prices will rise soon, Thai trade officials claim this isn’t true. The director-general of Thailand’s International Trade Department told the Bangkok Post the department has not yet approved any manufacturers raising their prices. The director-general said the department regularly speaks to instant noodle manufacturers. He said manufacturers who want to raise prices…
- 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…
- Property
Thailand real estate market to see post-pandemic boom by 2024
Real estate developers in Thailand should brace themselves for a post-pandemic boom, despite the current inflation and higher development prices, economists say. After a 2 year slowdown during the pandemic, Thailand will enter a new economic phase from 2022 to 2024, according to Bangkok Bank’s Senior Executive Vice-President Kobsak Pootrakool in the Bangkok Post. “We are getting close to the end…
- Thailand News
Thailand’s businesses appeal to government to lower labour import cost
Thai businesses say they need more workers, and have appealed to the Labour Ministry to reduce costs of importing migrant workers from surrounding countries like Myanmar and Cambodia. Labour ministers said business operators are concerned that if not enough workers are brought in on time, their businesses won’t be able to meet orders and will have to pay fines. PM…
- Thailand News
Government cracks down hard on pork hoarders
After Songkhla authorities accused one food company of hoarding 200 tonnes of pork in January, the government is on a mission to crack down on pork hoarding. Authorities have gotten more strict about storage and receiving procedures, and inspected 24.48 million kilograms of pork. They then seized 1.07 million kilograms of it that was hoarded. Pork prices are finally lowering…
- Economy News
Fear of back taxes preventing some businesses from participating in government co-payment scheme
Signs are popping up outside restaurants and shops across Thailand, advising customers that they don’t accept payment via the government’s 50/50 stimulus scheme. Thai PBS World reports that a number of businesses are refusing to participate in the Khon La Khrueng (Let’s Go Halves) subsidy scheme, fearful that the government will come along and claim back taxes further down the…
- Thailand News
Thai customs officials have dogs sniff for pork at Laos border to prevent smuggling
Thai customs and livestock officials now have trained dogs sniffing for pork that could be smuggled over the Laos border. This news comes after about 300 kilograms of pork were found at a dump near the moon river yesterday. Officials think a pork trader who hoarded too much pork might have dumped it there. They have deployed the dogs at…
- Property
Thailand real estate prices expected to rise in 2022
Since the first quarter of 2020, the home price index has been declining while new home prices have increased. Several pandemic-related factors are to blame, including an increase in the costs of fuel and construction materials, along with higher inflation and a labour shortage. The compounding of these pressures mean real estate prices in Thailand are ready to rise in…
- Visa Information
10-year visa to attract engineers and IT experts, boost technology development
The 10-year visa scheme for wealthy foreigners and highly-skilled professionals is expected to attract engineers and IT experts, potentially boosting technology development in Thailand as the country anticipates a shortage of digital workforce over the next few years. The long-stay visa scheme was approved in principle by the Thai Cabinet last month, targeting foreign investors, highly-skilled professionals and wealthy retirees…
- Thailand News
Thailand will raise 12% fewer pigs this year, livestock department says
Thailand’s livestock department says farmers will probably raise 11.8% fewer pigs this year. Already, male pig breeders have dropped 41.1%, while female breeders have dropped 11%. The department general said this is because of economic conditions during the pandemic, and also farmers not having too many pigs in case of disease outbreaks. There are 107,000 pig raisers in the country,…
- Thailand News
Pork price crisis ups demand for poultry, chicken added to price control list
Thailand’s pork price crisis is causing an increased demand for chicken, leading poultry and egg prices to surge. The Ministry of Commerce has now added chickens and chicken meat to their price control list. The ministry now mandates that chicken raisers with over 100,000 chickens, and slaughterhouses with the capacity for over 4,000 chickens a day, disclose their quantity, stocks,…
- Economy News
Thailand’s Commerce Ministry sets up war rooms to combat high prices
In an effort to take legal steps against merchants selling products at unfairly high prices, the Permanent Secretary of Thailand’s Ministry of Commerce Boonyarit Kalayanamit says he will chair war rooms to combat high prices. The secretary stated this yesterday in an urgent meeting with Commerce Minister Jurin Laksanawisit. The director-general of the Internal Trade Department under the Commerce Ministry,…
- World News
Vietnam gives green light to US$15 billion stimulus plan for economic recovery
The parliament of Vietnam has approved a stimulus package worth 347 trillion VND (US$ 15.3 billion) for those severely affected by the Covid-19 pandemic, especially businesses as well as expanding infrastructure expenditure amidst harsh lockdowns. Since the government is seeking sustainable growth, that ensures macroeconomic stability as concerns about inflation raised alarm over the National Assembly last month. Officials are…
- Thailand News
Bank of Thailand forecasts lower economic growth during Omicron outbreak
With the emergence of the Omicron variant in Thailand and an uptick of cases after the New Year holiday, the country’s central bank says the economy might grow slower in the first half of the year. The kingdom has seen a revival in tourism, especially over the past two months with the Test & Go quarantine exemption scheme. Registration for…
- Thailand News
NIDA Poll: No optimism about pandemic, economy, and politics
A new NIDA Poll asked people about their thoughts on 2022, asking about politics, the economy, and the Covid-19 pandemic, with the majority of respondents not having a particularly positive outlook on the coming year. They were asked if the economy will improve, if the pandemic will subside, and also if PM Prayut Chan-o-cha will remain in power or what…
- Covid-19 News
Thai industry body confident government will curb spread of Omicron variant
The Federation of Thai Industries says it believes the government can slow the rate of Covid-19 infection, despite the alert level being raised yesterday. The level moved from 3 to 4, with officials asking people to work from home if possible and to avoid all non-essential travel. However, Kriengkrai Thiennukul from the FTI is confident Thailand will cope. “The FTI…
- Thailand News
Norwegian man in Thailand guilty for scamming Norway’s Covid-19 compensation scheme
A Norwegian man living in Thailand was found guilty by the Oslo District Court for scamming the Norwegian government’s Economic Covid-19 Compensation scheme by claiming lost revenue for fake companies. The court sentenced the man to three years and nine months in jail. Reports to do not identify the man, but say he is in his 50s carried out the scam…
- Tourism News
Thai aviation sector calls for visa waiver for international travellers
Thailand’s aviation sector is calling on the government to introduce a visa waiver scheme for international arrivals to boost demand. The Airlines Association of Thailand says global competition for tourists is getting tough and the government needs to do more to attract international visitors. “We are in a fierce competition as every country needs tourists to cushion the economic impact.…
- Economy News
Finance Minister: economy of Thailand will recover in 2023
Minister of Finance Arkhom Termpittayapaisith says that the economy of Thailand should see a full recovery, not next year, but by 2023. The economy is expected to grow by about 4% next year so 2022 would begin economic recovery, but it will take longer for Thailand definitely bounce back after the devastation of the Covid-19 pandemic. The Finance Minister believes…
- Property
Crypto and digital nomads could boost Thailand’s real estate market
As cryptocurrency is the new payment option of the modern era, many real estate developers are now supporting their payments through it. And, as it is still new to the Thai real estate market, experts say its growth potential is huge. As it can serve as a new alternative to real estate trading, it can help real estate developers offer…
- Phuket News
Tourism recovery in Phang Nga still sluggish
Thailand may have re-opened but there’s little sign yet of any significant recovery in the southern province of Phang Nga. The Bangkok Post reports that most businesses in the tourist area of Khao Lak are still suffering. Despite the coastal resort being open for over 3 weeks now, there are only a handful of tourists in the region. Chayabol Hirankanokkul…
- Economy News
Government agency ups 2021 foreign arrivals prediction to 200,000
An agency under the Ministry of Finance has increased its 2021 tourist arrivals forecast to 200,000. The Fiscal Policy Office had previously stated that it expected 180,000 foreign arrivals by the end of the year. According to a Bangkok Post report, Pornchai Thiraveja from the FPO says this now looks likely to increase. During the first 2 weeks of November,…
- Economy News
Chamber of Commerce proposes familiar plans for the economy
Ahead of a meeting with PM Prayut Chan-o-cha tomorrow, the Thai Chamber of Commerce has compiled a list of measures to boost Thailand’s struggling economy. The proposal was sourced from 5 regional chambers of commerce and will be submitted to the prime minister tomorrow as part of his meetings with private sector representatives. The proposed measures aren’t particularly groundbreaking, mostly…
