Thailand economy
- Phuket News
Thai officials vow to solve household debt problem at Phuket event
Thai officials held a ‘Household Debt Reconciliation Fair’ in Phuket yesterday. At the event, Thailand’s Minister of Justice Somsak Thepsutin said the government has designated 2022 as the “Year of Solving Household Debt”. He said that 2,810 people had registered for the event. Somsak said that several government departments have organised events to “facilitate the mediation process of household debts…
- Economy News
New wages for Thailand’s skilled workers
Thailand’s cabinet has approved new wages for construction workers, industrial arts workers and service workers. The new wages are expected to come into effect 90 days after the announcement was made on Tuesday. In the construction industry, tilers considered ‘level 1’ will earn 465 baht per day. Those considered level 2 will earn 550 baht a day. Level 3 tilers…
- Economy News
Thailand’s government will likely keep diesel subsidies
After much drama and anxiety over announcements that Thailand’s diesel price could eventually jump to 40 baht per litre, PM Prayut Chan-o-cha has announced yesterday that the government will likely extend its subsidy programme that is due to end on May 20. The current subsidy has helped keep the price at about 32 baht per litre, even though the actual…
- World News
After Indonesia’s export ban, palm oil producers promise price cap in Thailand
In the midst of the global palm oil crisis following Indonesia’s export ban, palm oil farmers, extractors, and producers are promising Thailand’s Internal Trade department that they will cap the price on the product. The Internal Trade Department’s chief said the 3 groups were told that an export ban may be considered if palm oil stocks fall below 300,000 tonnes.…
- Economy News
Employers in Thailand object to raising minimum wage
In the midst of Thailand’s worst worker’s debt in 14 years, Thai employers are opposing a new proposal to increase the country’s daily minimum wage. The currrent minimum daily wages range from 313 baht to 336 baht, depending on which part of the country you’re in. In Bangkok it’s 331 baht. Earlier this week, the Thai Labour Solidarity Committee and…
- Economy News
Survey says Thailand’s worker’s debt has hit a high after over a decade
A survey by the University of the Thai Chamber of Commerce says the average debt of each worker’s household in Thailand is 217,000 baht this year. This is a 14 year high for Thailand. At the end of 2021, the country’s overall household debt was 14.6 trillion baht, one of the highest in Asia, per capita. Most service sector workers…
- Thailand video news
Thailand News Update | Trucker protests return & Thailand Pass to End?
The cancellation of Thailand Pass registration could take place as early as June 1, according to the Tourism and Sports Ministry. With Thailand Pass gone tourists would go back to using their TM6 immigration arrival forms for vaccine declaration. Earlier projected dates of July 1 to drop the much-debated Thailand Pass could happen a month earlier if the CCSA accept…
- Transport News
Thailand officials say diesel will be 32 baht per litre from May 1
Get ready to say goodbye to Thailand’s 30 baht per litre price cap on diesel on May 1. Starting on Sunday, the price will be 32 baht per litre, according to the Oil Fuel Fund Office. Thailand’s permanent secretary for energy said the current 11 baht subsidy per litre is falling to 9.6 baht per litre. Officials from Thailand’s energy…
- 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…
- Economy News
Thailand’s March exports spike nearly 20% year on year
Last month, Thailand’s exports surged at an unexpectedly high rate, jumping by 19.5% when compared to the same time last year. A Reuters poll conducted in March had predicted the country’s exports would only rise by 2.4%. According to the Thai customs department data, 2 major products contributing to the export jump were gold, and electronics. Gold exports in March were…
- 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…
- 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…
- 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…
- 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…
- 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…
- 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 Travel
Phuket boat tour business begs government to stop fuel price spike
A speedboat tour company in Phuket is begging the government to not allow fuel prices to spike. The company, Nikorn Marine Tour Phuket, offers tourists group boat trips, as well as private trips. It also offers beach parties, but its main services require boats. The company’s CEO told The Phuket News yesterday that after Covid-19 had already hit marine tourism…
- 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
Phuket’s tuna industry falling behind, Phuket VP calls to train fishermen
In a meeting yesterday, Phuket’s Vice Governor Pichet said the provincial government wants fishermen to develop stronger skills with tuna and tuna fishing practices. He said strict fishing laws have already lowered the number of tuna caught in the province. Another issue is that Thailand doesn’t have proper tuna fishing boats. VP Pichet said amendments to current laws on which…
- Thailand video news
Thailand News Today | Proposal to change how Covid-19 cases are reported
After Thailand’s number of daily Covid-19 infections went above 10,000 this weekend, the government plans to change how it does daily reports. In a two-day a week test, the government reports will only focus on deaths and serious cases where people needed to be hospitalized with ventilators, or had pneumonia. The Ministry of Public Health says that even though infections…
- 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…
- 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…
- 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,…
- Property
Condominium sales slow down in Hua Hin and nearby coastal areas during pandemic
There’s a low demand for condominiums in the coastal areas of Hua Hin, Cha-am and Khao Tao. Only two new projects for sale were launched in the resort communities last year. Hua Hin, a seaside resort district in Prachuap Khiri Khan, about 3 hoursdrike south of Bangkok, is still a popular vacation spot, however, condominium sales there remained low throughout…
- South Thailand News
Thai authorities crack down on pork hoarders in the midst of pork shortage crisis
In the midst of Thailand’s pork shortage crisis, suspected of being driven by an outbreak of the African Swine Fever, Thai livestock authorities discovered over 200 tonnes of unverified pork in a refrigerated warehouse in Chana, a district of southern province Songkhla, yesterday. The authorities believe the pork has been stored there since November. They are now inspecting the warehouse…
- 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,…
- Economy News
Pork, petrol and noodles – inflation impacting prices in Thailand
Heading into 2022, the ‘I’ word is spooking economists around the world as they look at tools to try and control rampant inflation. Even in Thailand there has been big rises in staples, making headlines this week, particularly in the pork industry. Meat and produce prices have been sneaking up and now impacting the cost of living for everyone living…
- Thailand News
Legalisation of hemp cultivation is expected to boost stocks
Thailand’s recent legalisation of hemp cultivation is expected to boost stock prices in related sectors. Market analysts at KTBST Securities Research say plantation and refinery businesses are likely to be the first to to receive licenses to grow hemp or produce extracts, and those businesses should expect an uptick in stock prices. Market analysts add that businesses that plan to…
- World News
Myanmar cancels Thai investment in the Dawei Special Economic Zone
The Dawei Special Economic Zone Management Committee has announced the cancellation on the deep seaport project contract with Italian-Thai Development (ITD), one of Thailand’s leading industrial firms, by saying that they “lost confidence” in the company after long, controversial issues. The Dawei Special Economic Zone Management Committee said that the Thai company has caused them “repeated delays, continuing breaches of…
