Thai Government
- Business News
Thai rice body urges government to focus on new rice strains
The Thai Rice Exporters Association is calling on the new government to avoid manipulating rice market prices and instead focus on the strategic production of new rice varieties. Chookiat Ophaswongse, the association’s honorary president, emphasised the importance of developing new rice strains to maintain competitiveness with other exporting nations. “This is crucial for the future of Thai rice. Following roadshows…
- Technology News
Online fraud declines as Thais embraces digital safety measures
Chaiwuti Thanakamanusorn is confident that online crime measures are effective, as statistics of online scams show a decline. The public is also increasingly aware and cautious, preventing themselves from becoming victims of online fraud. Chaiwuti, the Thai Minister of Digital Economy and Society (MDES), is urging the public to adopt measures to protect themselves from becoming victims of organized cybercriminal…
- Thailand News
Cannabis clash to coalition: Bhumjaithai’s olive branch to Pheu Thai Party PM candidate
The fickle nature of Thai politics once again reared its ugly head when the leader of the Bhumjaithai Party extended an olive branch to the Pheu Thai Party prime ministerial candidate who levied against their cannabis legalisation policy during the General Election campaign. Pheu Thai Party leader Chonlanarn Srikaew yesterday invited Anutin Charvirakul and the Bhumjaithai Party to a press…
- Thailand News
Prime minister fast-tracks aid for firework warehouse blast victims
Prime Minister Prayut Chan-o-cha, along with Interior Minister Anupong Paojinda, toured the site of a devastating fireworks warehouse explosion in Narathiwat yesterday. The visit aimed to expedite the rehabilitation process for victims and address housing issues caused by the unfortunate incident. Chan-o-cha journeyed to Muno, a village in Sungai Kolok district, to evaluate first-hand the circumstances of those affected by…
- Thailand News
Thai state bodies unite to curb money laundering via digital assets
In an unprecedented act of collaboration, five Thai state bodies are colluding to tackle illicit fiscal operations and money laundering across national frontiers, reveals Traisuree Taisaranakul, the deputy government spokeswoman. The cooperative pact encompasses the Royal Thai Police (RTP), the Revenue Department, the Securities and Exchange Commission (SEC), the Anti-Money Laundering Office (Amlo), and the Bank of Thailand (BoT). Traisuree…
- Thailand News
Thai organisations challenge Senate’s prime ministerial authority
Amidst ongoing political turmoil in Thailand, a collective of forty organisations including pro-democracy bodies, non-governmental agencies, and civil society factions made a united call. The appeal, presented to the media yesterday, demanded governmental respect for the General Election held on May 14. It emphasised recognition of the Move Forward Party due to its public support and backed its leader for…
- Thailand News
Thai police ban book critiquing monarchy, citing national security threat
Royal Thai Police have prohibited the circulation of an upcoming book that scrutinises the nation’s monarchy. The prohibition was issued in response to the book’s perceived slander towards the royal institution, according to a police statement in the Royal Gazette. The contentious publication, ‘Rama X: The Thai Monarchy under King Vajiralongkorn,’ both in its content and cover, is considered to express…
- Phuket News
Phuket governor takes action to solve out of school children crisis
In a decisive step towards ensuring all children in Phuket receive a formal education, Narong Woonciew, the Governor of Phuket, convened a meeting at the Phuket Provincial Hall. The gathering focused squarely on the thousands of children on the island who are not currently registered at any educational institution. Also in attendance were Vice Governor, Amnuay Pinsuwan, MP Thitikan Thitipruethikul,…
- Business News
Thai SEC seizes Stark Corporation’s assets amidst false accounting claims
The Securities and Exchange Commission (SEC) of Thailand seized the assets of Stark Corporation and some of its key personnel due to accusations of false accounting. Excessive damages have ensued following this misconduct with Stark’s debts rising above 38 billion baht as believed by the regulators. The SEC has also frozen the assets of Vonnarat Tangkaravakoon, formerly the acting chief executive…
- Thailand News
Bangkok’s Green Line railway debt passed onto incoming government
Citing a Government House authority, it was disclosed yesterday that the existing Thai Cabinet has chosen to pass the responsibility of resolving the debt affiliated with the Bangkok Metropolitan Administration’s (BMA) contract with Bangkok Mass Transit System Plc (BTSC) onto the incoming government. The obligation arose from assigning BTSC to oversee the operations of the Green Line extension. Interior Minister…
- Business News
Thai tourism federation FETTA plans transformative change for streamlined operations
Faced with a long-standing need for agile operations and goal-directed development, the Federation of Thai Tourism Associations (FETTA) is set to drive transformative change in Thailand’s tourism landscape. This follows the recent realignment of seven local tourism associations that have transitioned from the Tourism Council of Thailand (TCT) to become part of FETTA. According to Adith Chairattananon, a FETTA representative…
- Thailand News
Bedridden Thai man dies after he was forced to physically renew ID
In an incident eliciting nationwide outrage, a chronically ill Thai man from Pathum Thani province was required by local authorities to physically appear for the renewal of his expired national ID, despite being bedridden. The man tragically passed away a day after the ID was renewed, putting Thai bureaucratic systems under scrutiny. Facebook user Prangtong Jaiboon recently posted about the…
- Business News
Bank of Thailand continues interest rate normalisation amid new government
The Bank of Thailand has stated that the formation of a new government will not impact its decision to raise interest rates further. The central bank’s deputy governor, Mathee Supapongse, emphasised the need for the bank to maintain a separate view from elected officials, with the aim of continuing to normalise interest rates. “Despite recent increases, Thai interest rates are…
- Business News
Thai investor confidence sinks as government formation uncertainty looms
Investor confidence in the nation’s stock market has dropped to an eight-month low due to uncertainty over the formation of a new government, according to the Federation of Thai Capital Market Organisations (Fetco). The overall investor confidence index has dipped to 77.70 from 110.09 in May, entering the “bearish zone” for the first time in eight months. Foreign investor confidence…
- Thailand News
Thailand’s Big Data Institute to shape policies and boost economy
In a bid to harness the power of big data for social and economic progress, the Thai government has announced the creation of the Big Data Institute (BDI). This new public agency will focus on managing the vast amounts of data generated by the public and state agencies, and will be operational within 180 days. The BDI will replace the…
- Business News
Thailand aims for 300k digital volunteers to boost village tech accessibility
A collaboration agreement between the Office of the National Digital Economy and Society Commission (ONDE) and nine other agencies was signed yesterday, aiming to increase the number of digital volunteers in Thailand to 300,000 by 2024. The primary goal is to enhance the accessibility and comprehension of digital technology among villagers across the country. The plan involves establishing a digital…
- Business News
Thailand set to exchange financial data to combat transnational tax evasion
The Revenue Department of Thailand is set to enhance its efforts to combat transnational tax evasion through the exchange of financial information, according to its director-general, Lavaron Sangsnit. Thailand joined the Global Forum on Transparency and Exchange of Information for Tax Purposes in 2017 and has since been working towards adhering to international standards for tax cooperation. The Convention on…
- Thailand News
Thai government extends paternity leave to 15 days for male employees
The Thai government extended paternity leave for male government employees, granting them 15 days of paid leave following the birth of their child. This change is part of the recent Government Employees Executive Committee announcement regarding government employee benefits, signed by Deputy Prime Minister Wissanu Krea-ngam. The updated paternity leave regulation was added to the section on maternity leave in the…
- Business News
Thai Cabinet extends contracts of migrant workers, easing labour shortage fears
The Thai Cabinet‘s recent decision to extend employment contracts for over 200,000 migrant workers has alleviated concerns about a domestic labour shortage. Poj Aramwattananont, vice-chairman of the Thai Chamber of Commerce and president of the Labour and Skill Development Committee, said the move addresses management issues related to migrant workers while easing the worker shortage in industries requiring intensive labour…
- Business News
Thai rubber industry gets 2 billion baht boost to increase global competitiveness
The Thai Finance Ministry has joined forces with the Thai Chamber of Commerce, and the Rubber Authority of Thailand to launch the Capital Flow in Rubber Industrial Estate project, aimed at enhancing the competitiveness of businesses in the rubber supply chain on a global scale. The rubber and rubber product exports amount to over 680 billion baht annually, with more…
- Politics News
Urgent call for new govt: Thai Chamber of Commerce stresses budget allocation continuity
The Thai Chamber of Commerce emphasised the urgency of forming a new government to ensure the continuity of budget allocation, following discussions with Pita Limjaroenrat, leader of the Move Forward Party (MFP), and other party executives. Sanan Angubolkul, the chamber’s chairman, highlighted the need to address issues such as costly electricity bills, wages, ease of doing business, and legal reforms…
- Business News
Krungsri bank expects Thai government to boost Japanese investment
Krungsri, also known as the Bank of Ayudhya, believes that the new Thai government will continue to encourage Japanese investment in the country. Japan is currently Thailand’s largest foreign investor, contributing 28.6% of total investment, or 23.3 billion baht. As political parties form a coalition government, Japanese investors are closely monitoring the situation. Bunsei Okubo, the head of Japanese corporate and…
- Business News
Thai entrepreneurs urge government to prioritise reducing energy costs
A recent survey by the Federation of Thai Industries (FTI) has shown that the majority of entrepreneurs are urging the new government to fulfil its promise to lower electricity costs, as outlined in a memorandum of understanding (MoU) signed by the Move Forward Party and seven other political parties. Of the 252 executives across 45 industries surveyed, 75.8% voted for…
- Business News
Saha Group urges Thai govt to prioritise agriculture over wage hikes
The Saha Group, a prominent consumer product conglomerate in Thailand, advised the new Thai government to prioritise the promotion of the agricultural sector instead of significantly raising the daily minimum wage. The group’s chairman, Boonsithi Chokwatana, believes this approach would contribute to sustainable economic growth. Boonsithi also suggested that the government should concentrate on enhancing the economy through educational initiatives…
- Business News
Thai export growth target maintained despite 7-month shipment decline
Despite a decline in Thai exports for seven consecutive months, the Commerce Ministry maintains its export growth target of 1-2% for the year. Keerati Rushchano, the Permanent Commerce Secretary, predicts that the export outlook will remain negative due to the high inventory held by trading partners, causing delays in orders. However, he expects exports to improve in the second half of…
- Politics News
Thai parties push for Progressive Liquor Bill to boost local alcohol production
The Progressive Liquor Bill, which aims to create fairer rules for small and community-based alcohol producers in Thailand, resurfaced in public discussions after being mentioned in a memorandum of understanding signed by eight parties looking to form a coalition government. The bill, proposed by the Move Forward Party (MFP), narrowly lost approval in the House of Representatives last year by…
- Business News
Economist warns of panic as new Thai government risks fiscal sustainability
Concerns about fiscal sustainability have been raised by Kiatnakin Phatra Securities (KKP), as the new government‘s potential “addiction to budget deficits” may cause panic in the stock market. KKP’s chief economist, Pipat Luengnaruemitchai, expressed his apprehensions regarding the country’s fiscal outlook if excessive expenditure is allocated by politicians and the government without a clear financing plan. As Thailand prepares for…
- Business News
Thai election fallout hits SET, investors dump big-cap stocks
Despite initial optimism that the General Election could reverse the “sell in May” phenomenon, the recent poll sent the Stock Exchange of Thailand (SET) index into a tailspin, dipping 3% the first week after the election. Political uncertainties have triggered an outflow of funds, worsening the situation for Asia’s worst-performing bourse this year. The market capitalisation of the SET has…
- Business News
Thapanee Kiatphaibool approved as new TAT governor
The Tourism Authority of Thailand (TAT) announced the appointment of Thapanee Kiatphaibool as its new governor, effective from September 1. The 48 year old, who currently serves as the deputy governor for domestic marketing, was chosen by the TAT board yesterday, following a recruitment process that began on February 20. Out of the two finalists, the nomination subcommittee, chaired by…
- Business News
Limited impact expected from new government’s stimulus amid political uncertainty
The impact of the new government‘s stimulus measures on the economy is expected to be minimal, as the stock market has already accounted for risks associated with political issues, according to the SCB Chief Investment Office (SCB CIO). Kampon Adireksombat, first senior vice-president and head of SCB CIO, stated that the formation of a new coalition government is still uncertain…
- Business News
Thailand’s state grid to ink 5.2GW renewable deals in Q3
The Energy Regulatory Commission (ERC) anticipates that power purchase agreements (PPAs) will be signed with companies chosen to participate in the 5.2-gigawatt renewable energy scheme during this year’s third quarter. The Office of the Attorney General is currently reviewing the legal aspects of the scheme, which includes power plant construction projects proposed by 175 selected companies. Following the completion of…
- Business News
Thai government revenue exceeds target by 112 billion baht amid economic recovery
The Ministry of Finance announced that government revenue collection for the first seven months of fiscal 2023 (October to April) surpassed the target by 112 billion baht, primarily due to contributions from agencies other than the Revenue Department. This information was shared by Pornchai Thiraveja, director-general of the Fiscal Policy Office. The government collected a net revenue of 1.38 trillion baht…
- Business News
FTI urges swift Thai coalition to back high-tech hub and green growth
The Federation of Thai Industries (FTI) is preparing a position paper outlining the economic policies favoured by businesses, with plans to submit it to the newly formed government once it takes office. Montri Mahaplerkpong, the FTI vice-chairman, stated that the paper is in its final stages and should be approved by the end of the month. The document will highlight…
- Economy News
Thai govt postpones tourism tax due to airlines’ complaints
The Thai government has announced the postponement of the planned 300-baht (US$9) tourism tax from June to September due to complaints from airlines. The fee was proposed to help the Thai tourism sector recover from the Covid-19 pandemic, with a 150 baht sum for overland visitors and a 300-baht fee for airline passengers. However, airlines raised concerns about the implementation…
- Crime News
Fruitless: Tourists they face jail time for bringing fruits to Thailand, govt warns
The Thai government issued a warning to tourists that it would be fruitless to bring fruits into Thailand unless they wanted to go to jail. The Department of Agriculture specifically stated that transporting fresh fruit into Thailand without a phytosanitary certificate could result in a fine of 20,000 baht or a jail sentence of one year. The director-general of the…
- Tourism News
Thai govt launches mouth-watering e-guidebook for foreign foodies
Hold on to your buckled belts foodies, because the Thai government has just cooked up something delicious – a mouth-watering e-guidebook aimed at promoting gastronomy tourism for Muslim and foreign visitors alike. The guidebook is so good, it’ll have travellers licking their lips in no time! So, whether you’re foodies seeking new culinary adventures or a traveller looking to spice…
- Business News
New law allows foreign talent to thrive in Thailand
The government of Thailand has taken a huge step forward in attracting highly skilled foreign workers to the country, with the release of a new law that allows foreigners to work or invest in 18 select industries. The Royal Thai Gazette website published a notice from the Ministry of Interior outlining the special permit for migrant workers, signed by Prime…
