Business & Economy

The exorbitant price Thailand is paying for high household debt 

The crisis of high household debt is casting a dark shadow over Thai society: over a million people are on the edge of bankruptcy, some have committed suicide or crimes,…

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GLO to launch digital lottery outlets on March 17th

The Government Lottery Office (GLO) is set to launch the sale of digital lottery tickets through registered lottery dealers on March 17th, to provide buyers with another channel through which…

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Additional flights by six airlines available during Songkran festival

Thailand’s six domestic airlines have sought permission from the Civil Aviation Authority of Thailand (CAAT) to add 104 flights to their schedules during the “Grand Songkran Festival”, to cope with…

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Thailand wants Hong Kong to use it as trade and investment hub

Thailand wants Hong Kong business operators to use Thailand as their trade and investment centre in the Southeast Asian region and to support Thailand’s efforts to develop its soft power…

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Oktavianto Pasaribu, Deputy Director and Officer-in-Charge, ILO Country Office for Thailand, Cambodia and Lao People’s Democratic Republic

Thailand and ILO join forces in ambitious four-year programme for decent work

Thailand has partnered with the International Labour Organization (ILO) in a groundbreaking initiative to enhance positive work conditions. The newly signed four-year Decent Work Country Programme (DWCP) aims to improve…

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Planes at Surabaya International Airport. Photo credit: Bandara Juanda Facebook page.

Thai investors concerned over travel time, while interested in East Java (Video)

A Thai business delegation, comprising business leaders in the education, food, manufacturing and agricultural industries, has been impressed by the vibrancy and infrastructural projects in East Java, Indonesia. The lack…

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Current price of electricity to be extended until August – Energy Minister

Energy Minister Pirapan Salirathavibhaga offered an assurance today that electricity charges for May-August will not be higher than they are now, as the Energy Regulatory Commission (ERC) is holding an…

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Thai banks to charge for transactions abroad

From May 1st, Thai commercial banks will charge their customers a 1% Dynamic Currency Conversion (DCC) fee for making cash withdrawals abroad. A similar fee will also be levied on…

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Cheap and substandard imports hurting Thai industries – FTI CEO Poll

Most Thai industrialists admit that their businesses have been affected by the imports of cheap and substandard products, particularly electrical appliances, food, textiles, cosmetics and garments, according to the latest…

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Exclusive Interview : Bank of Thailand governor on ‘creative tension’ with PM

In an exclusive interview with Thai PBS World, Bank of Thailand governor Sethaput Suthiwartnarueput talks to Suthichai Yoon about the Thai economy and interest rate policy. The central bank governor…

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File photo : PM Srettha Thavisin greets Chinese tourists at Suvarnabhumi Airport last year.

Will visa waivers help Thailand’s tourism regain pre-pandemic levels?

Thai tourists are excited at the permanent visa-free agreement signed by Thailand and China, which would make travel for citizens of both countries easy, with large-scale implications for tourism. Chairat…

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File photo

Construction of the high-speed train station in Ayutthaya to begin in March

The State Railway of Thailand will begin the construction of a station for the Thai-Chinese high-speed train project in Ayutthaya province this month, in parallel with the laying of the…

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A picture taken on January 21, 2021 in Nantes, western France shows a smartphone with the logo of Chinese social network Tik Tok. (Photo by LOIC VENANCE / AFP)

TikTok becomes Thailand’s choice for online shopping

TikTok, the online video-sharing platform, has become the most popular online shopping platform among Thais aged up to 29, according to a survey conducted by the Trade Policy and Strategy…

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Temporary measures to resolve NPLs at specialised financial institutions

The Bank of Thailand has issued a temporary measure allowing state-run banks of the Assets Management Company to establish joint asset management entities, to address the non-performing loans (NPLs) of…

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Committee approves new formula for calculating minimum wages

The tri-partite Wage Committee has approved, by a vote of 7:5, a new formula for the calculation of minimum wages, which is tentatively expected to come into force in April,…

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Thai exports are rebounding but huge trade deficit with China poses a threat

Exports are bringing cheer to Thailand’s gloomy economy, growing 10 per cent year on year in January, the highest in 19 months.   The January results marked six consecutive months of export…

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SRT agrees changes to design of Thai-Chinese high-speed train project

The State Railway of Thailand (SRT) has agreed to adjust the design of a section of the Thai-Chinese high-speed train project, in response to complaints from people in Nakhon Ratchasima…

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Credit Bureau sounds alarm over 610 billion baht in housing loans in default

The National Credit Bureau has raised the alarm over the prospect of about 610 billion baht in housing loans becoming bad debts, as it urges the government to come to…

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More incentives for growers not to burn sugarcane before harvesting

Thailand’s Cane and Sugar Board will propose that the government increases the incentives for sugarcane growers not to burn it before harvesting. Virit Viseshsindhu, secretary-general of the board, said that…

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Thailand-Kazakhstan to sign MoU on bilateral visa-free travel in April

Thailand and Kazakhstan are expected to sign a memorandum of understanding (MoU) in April to permanently exempt Thai and Kazakh citizens from requiring pre-travel visas for travel to each other’s…

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Thai exports for January up 10%, the highest in 19 months

Thai exports have risen for six straight months, with export value for January increasing by 10%, to US$22.6 billion, while imports went up by 2.6%, to US$25.4 billion, resulting in…

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Thailand caught in a cycle of low GDP growth and high household debt

Thailand’s household debt remains worryingly high at almost 91 per cent of gross domestic product (GDP) as of the third quarter of last year, due largely to a debt overhang…

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File photo : A group of local villagers in Udon Thani province talk to PM Srettha Thavisin about potash mining on February 19.

Thailand’s race to become a global potash giant leaves bitter taste in Isaan

Residents living around Thailand’s only commercial potash mine warn that Prime Minister Srettha Thavisin’s plan to transform the country into a leading potash producer risks inflicting devastating environmental impacts in…

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Purchases of e-trucks and e-buses in Thailand are now tax deductible

The Electric Vehicle Board has agreed to promote the use of commercial electric vehicles in Thailand, such as truck or buses, by making the purchase price tax deductible, according to…

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Photo : Boeing

THAI to acquire 45 Boeing 787 Dreamliners with option for 80 more

Thai Airways International has entered into a deal to acquire a fleet of 45 Boeing 787 Dreamliner aircraft, plus an option on another 80, with the deal also offering the…

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File photo : PM Srettha Thavisin/PM’s X

PM urges MPC to call a special meeting to review policy rate

Prime Minister Srettha Thavisin has urged the Monetary Policy Committee (MPC) to call a special meeting to review its decision to maintain the policy rate at 2.5%, without waiting until…

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Photo by CHRISTOPHE ARCHAMBAULT / AFP

NESDC urges policy rate, credit card interest and lending-deposit spread cuts

The National Economic and Social Development Council (NESDC) has urged the Bank of Thailand to review its policy rate, cut the credit card interest rate, from 8% to 5%, and…

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Laem Chabang Port in Chonburi province. (Photo by EEC)

Delays to key infrastructure projects in EEC discourage foreign investors

Foreign investors are reluctant to invest in the Eastern Economic Corridor (EEC) because of delays in some major infrastructure projects, among them the high-speed train linking U-Tapao, Suvarnabhumi and Don…

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Many analysts have pointed out that tensions between major world superpowers have intensified, which will further restrict international trade and prolong the high price of energy. (Photo by @tawatchai07)

Thailand’s economic challenge: short-term relief vs long-term structural woes

The 5:2 vote by the Thai central bank’s Monetary Policy Committee (MPC) to hold the key policy rate at 2.50 per cent is a hint of an impending rate cut at…

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Thai businesses advised to prepare for global economic reset

The Thai private sector should brace for a global economic reset, amidst the uncertainty over geo politics and the changing political landscape, which will lead to a multi-polar world order…

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PM reiterates Thai government’s intention to tackle debt problem

Prime Minister Srettha Thavisin has reiterated the government’s determination to resolve formal and informal debt problems within the 4-year term of his administration. He said that the progress in tackling…

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Slow economic growth, lack of foreign investment are major challenges

Thailand’s biggest economic challenge is that its economy has been growing at slower pace, about 3% per annum, than Malaysia and China, at about 5% annually, because it lacks the…

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The price of love: Valentine’s Day spending to reach more than 2.5 billion baht in 2024

Valentine’s Day is expected to cost consumers more this year as inflation remains sticky. Yet despite the economic doldrums, they are planning to celebrate the official day of love with…

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UNDP report says human rights defenders are targeted by businesses, 30% are victims of violence resulting in loss of life.

A new UN report claims that, between 2001 and 2021, 30% of outspoken Thai activists experienced violence resulting in a loss of life, by the businesses against which they had…

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Government finds itself backed into a corner on digital wallet scheme

The Thai government’s controversial plan to raise 500 billion baht through an off-budget loan for the digital wallet scheme has run into another roadblock. The National Anti-Corruption Commission (NACC) recently…

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Government to roll out new measures to tackle Thai indebtedness

The Thai government is expected to announce new measures today to solve the debt problems of Thai people, after it was revealed that, by the end of last year, household…

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Progress made in ASEAN-China FTA talks in Hangzhou

ASEAN and China are reported to have made substantial progress in the 5th round of the ASEAN-China free trade agreement (ACFTA) upgrade negotiations held between January 29th and February 2nd…

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NACC Secretary-General Niwatchai Kasemmongkol

National anti-graft watchdog raises reservations over government’s digital wallet scheme

The National Anti-Corruption Commission (NACC), has not approved or rejected the government’s beleaguered “digital wallet” scheme, but has expressed concerns that it may fall foul of the Constitution and fiscal…

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Rice policies caught in controversy and politicization ?

Thai society was shocked when well-known serial petitioner Srisuwan Janya, who has been a thorn in the flesh of the powers that be for years, was arrested on January 28…

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Thailand’s consumer price index for January lowest for 35 months

Thailand’s consumer price index has dropped for four months in a row, to 106.98 points in January this year, which is the lowest since February 2021, said Poonpong Naiyanapakorn, director…

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Dumping of cheap Chinese-made “elephant pants” is opportunistic trade practice – PM

Prime Minister Srettha Thavisin said that the dumping of cheap Chinese-made elephant pants in the Thai market is a normal and opportunistic trade practice that should serve a lesson for…

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Thailand and Sri Lanka sign FTA to boost bilateral trade

Thailand and Sri Lanka signed a free trade agreement (FTA) and more in Colombo yesterday, aimed at boosting bilateral trade. Prime Minister Srettha, who was in Sri Lanka to witness…

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Foreign investors need more clarification on land bridge project

The government claims an advantageous outcome of job creation and economic growth for the 1-trillion-baht land bridge project, which connects the Gulf of Thailand and Andaman Sea, but foreign investors…

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[FILE] The logo of the Asian Infrastructure Investment Bank (AIIB) is seen at its headquarters in Beijing on June 15, 2023. (Photo by Jade Gao / AFP)

The AIIB is interested in land bridge project – PM Srettha

The Asian Infrastructure Investment Bank (AIIB) is interested in the huge land bridge project in southern Thailand, from an investment perspective, and in educational development, Prime Minister Srettha Thavisin said…

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Photo : Thai Foreign Ministry

Maritime dispute with Cambodia remains a hurdle for joint oil exploration

The Thai government is grappling with a dilemma on how to deal with an unresolved  maritime border issue with Cambodia amid political pressure at home, while also pursuing joint development of…

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Paetongtarn Shinawatra//Photo : Nikkei

Pheu Thai leader backs Srettha as PM, for now

Pheu Thai leader Paetongtarn Shinawatra has stated that, at this hour, Srettha Thavisin is the right man to lead Thailand. In an exclusive interview with Nikkei Asia last Friday, Paetongtarn…

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Thailand’s gaping disparity in welfare spending on state officials and the people

Budgetary provisions are under scrutiny as Thailand’s House of Representatives is currently in the process of vetting the much-delayed budget bill for fiscal 2024. The total outlay is 3.48 trillion…

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Phumtham insists government think ahead if Thailand is to progress

The government must think laterally and ahead, otherwise Thailand will become bogged down and will not move forward. This has been the case over the past ten years and the…

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 ‘Generation Rent’ surges in Thailand as homes become increasingly unaffordable

The story about a large Chinese family in Henan paying US$140 (about 5,000 baht) a day to stay in a hotel suite for over 200 days rather than buy a…

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34.66% want the “digital wallet” scheme to be scrapped – NIDA Poll

34.66% of respondents to NIDA Poll suggest that the government should scrap the digital wallet scheme, to distribute 10,000 baht to most Thai nationals 16 or older, and 68.85% say…

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270 million baht to be sought for promotion of this year’s Songkran festival

The Soft Power Strategy Committee is to request about 270 million baht from the government for the promotion of this year’s Songkran Festival, in an attempt to make it part…

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A pet-friendly hotel is a prime example of the growing trend in lifestyle hotels, attracting numerous pet parents.

High hopes for Thai tourism in 2024

Industry leaders are expressing optimism for 2024 even though Thailand’s tourism industry has not fully recovered to pre-pandemic levels either in terms of foreign tourist arrivals or revenues. Indications that…

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Household debt this year expected to increase to 91.4% of GDP

Thailand’s household debt is expected to soar to 16.9 trillion baht, or 91.4% of GDP, by the end of this year, with the value of non-performing loans (NPLs) in the…

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Thai Fiscal Policy Office forecasts 2.8% GDP growth this year

Thailand’s economic growth this year is expected to be about 2.8%, largely due to increasing exports and tourism. This compares favourably against 1.8% GDP growth last year, according to Pornchai…

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A million foreign arrivals expected for Chinese New Year in February – TAT

The Tourism Authority of Thailand (TAT) has predicted that almost a million foreign tourists will visit the kingdom during the Chinese New Year festival, which runs from February 8th to…

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Bank of Thailand Governor Sethaput Suthiwartnarueput speaks during an interview with Reuters in Bangkok, Thailand, January 23.//Reuters

Thai central bank chief says current policy rate neutral, economy not in crisis

Thailand’s central bank chief, under fire from the prime minister for not cutting rates, said slower-than-expected economic growth was not a crisis as portrayed by the government, nor would it…

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PM promises fair, public and transparent study of land bridge project

Prime Minister Srettha Thavisin offered his assurance to multiple groups opposing the land bridge mega project, saying that the feasibility study covers all aspects of the project, related industries and…

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Questions remain over viability of multi-billion-dollar land bridge project

The idea of a land bridge connecting the Gulf of Thailand and the Andaman Sea has been in the pipeline for a few years. Former transport minister Saksayam Chidchob had…

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PM Srettha urges ASEAN to hike minimum wages

Prime Minister Srettha Thavisin said yesterday Thailand should not continue to use low labour cost as an incentive to draw foreign investments and urged ASEAN countries to work together to…

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Troubled “Digital “Wallet” scheme delayed

Deputy Finance Minister Julapun Amornvivat admitted for the first time today that the launch of the digital wallet scheme, which was set for May, will be delayed. He vowed, nonetheless,…

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Cabinet cuts excise tax on diesel by a baht per litre for three months

The cabinet agreed today to cut the excise tax on diesel by one baht per litre for three months, effective January 20 until April 19. Deputy Finance Minister Julapun Amornvivat…

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Chicken meat

Expiry date for five controlled products extended to June 29

The cabinet agreed today to extend state price controls on five products until June 29, said Government spokesman Chai Wacharonke. The products are face masks, synthetic yarn (used in the…

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Digital wallet meeting postponed, pending NACC opinion

The Digital Wallet Committee has postponed today’s planned meeting, pending delivery of the National Anti-Corruption Commission’s (NACC) opinion on the scheme, Commerce Minister Phumtham Wechayachai said today. The secretary general…

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File photo : Piti Disyatat, assistant governor of the monetary policy group

The Central bank defends its decision to increase policy rate

The Bank of Thailand has defended the recent decision by the Monetary Policy Committee to maintain the policy rate at 2.50%, claiming that the decision was based on the principle…

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Phumtham to lead a trade delegation to the US

Commerce Minister Phumtham Wechayachai will lead a trade delegation to the United States from January 17th to 22nd, in an attempt to expand the US market for Thai products. During…

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20.5% fewer passengers on BTS extensions after start of fare collection

The number of people using the two extensions of BTS Green Line train service has dropped by about 20.5%, from 340,000 to 270,000 a day, since the Bangkok Metropolitan Administration…

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Nationwide informal debt mediation operations to start on Monday

The Ministry of Interior, via the Provincial Administration Department, will begin nationwide informal debt mediations, as part of the “debt solving market place” program, at provincial halls and municipal offices…

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PM seeks weekly meetings with central bank governor

Prime Minister Srettha Thavisin has floated the idea of weekly meeting with Bank of Thailand Governor Sethaput Suthiwartnarueput, after both of them met at Government House yesterday to discuss the…

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Energy board sets electricity unit price at Bt4.18

Energy Regulatory Commission (ERC) has set the fuel tariff (FT) surcharge on electricity, for the January through April period, at 39.72 satang per unit and the electricity unit price at…

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11 sectors and activities recognised as part of Thailand’s soft power

The National Soft Power Strategy Committee has recognised 11 sectors and activities for promotion as elements of Thailand’s soft power. It has also approved a 3 billion baht budget to…

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Will tax breaks help the Thai economy change gear?

The government has launched tax breaks to encourage consumer spending this year, in a bid to stimulate the economy. But will it work and who is going to benefit? From…

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Council of State sanctions Bt500 billion loan bill to fund ‘Digital Wallet’ with three conditions

The Council of State says the government can proceed with promulgating a loan bill to borrow Bt500 billion to fund the digital wallet scheme, Deputy Finance Minister Julapun Amornvivat said…

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File photo : PM Srettha Thavisin

PM complains about Thai Central Bank’s decision to increase policy rate

Prime Minister Srettha Thavisin has expressed his disagreement with the decision of the Bank of Thailand to raise its policy rate, arguing that it is excessively high in comparison to…

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World Bank says revised education system key to reducing income inequality

Thailand’s efforts to combat income inequality are hitting a wall. Despite strides before 2015, progress has stalled, leaving the country with the highest inequality in East and Asia Pacific. The…

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Land bridge project public hearings held in Chumphon and Ranong

People in the southern provinces of Ranong and Chumphon are divided over the controversial land bridge project, with the business sector and most local community leaders in favour, while civic…

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Can Thailand detonate the baby boom it needs as retirement time bomb looms?

Thai retirees started outnumbering people entering the workforce for the first time last year, sparking concerns that the country faces a future of economic and social breakdown. An official report…

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File photo : PM Srettha Thavisin

Srettha’s zealous diplomatic outreach to secure investments yet to bear fruit

Prime Minister Srettha Thavisin has set a record for the most number of foreign trips by a premier in just four months in office, but he has little to show…

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Officials repair the damaged section this morning//Photo : Jor Sor 100 FB

Part of Kanchanapisek road remains closed this morning

A section of Kanchnapisek Road in the Thonburi area remains closed to traffic this morning after subsidence yesterday. Initial investigations indicate that the collapse was caused by a break in…

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Chinese online travel giant reveals 90% surge in searches about Thailand

Following the announcement of pre-travel visa exemptions for Chinese and Thai tourists starting March 1st, searches using Thailand-related keywords surged by 90% within an hour. Senior Director of Trip.com for…

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Investigators inspect a Pink Line train after , its conductor rail collapsed onto Tiwanon Road in Nonthaburi province in November last year.

Consumer council demands inspections of Yellow and Pink train services

The Thailand Consumers Council has called for urgent inspections of the entire operational system of the Yellow and Pink train lines, following separate recent accidents. On its Facebook page, the…

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PM Srettha Thavisin explains details of the budget in parliament on January 3.

PM confident 2024 budget will improve the Thai economy

Prime Minister Srettha Thavisin presented the government’s 3.48 trillion baht budget bill to the House of Representatives today, saying that he is confident it will stimulate tourism and improve the…

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Opposition leader Chaitawat Tulaton

Opposition sees “no future” for Thailand in government’s budget

Leading opposition MPs have expressed their disappointment in the government’s FY2024 budget, claiming that the financial allocations do not reflect the government’s policies and the bulk of the budget is…

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File photo : fishing vessels

Restrictions on fishing vessels eased

The marine fishing management committee has agreed to allow 1,200 fishing vessels to continue to fish in the Gulf and the Andaman Sea for another 20-50 days, effective January 1 to…

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54.4 billion baht tourism revenue forecast during New Year holidays

Tourism and tourism-related activities during this year’s festive season are expected to generate about 54.4 billion baht in revenue, a 44% increase over last year, according to the Tourism Authority…

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Over 27 million foreign tourists visited Thailand in 2023

27,252,488 foreign tourists visited Thailand between January 1st and December 24th this year, meeting the 25-28 million foreign arrivals target. People from Malaysia topped the list, with 4,439,480 arrivals, followed…

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Human smuggling investigation on Phuket expands

Police on the island province of Phuket have expanded their investigation into human smuggling activities, after rounding up some 28 Chinese nationals who exploited tourist visas to work at a…

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SEC accuses three former STARK executives of insider trading

The Securities and Exchange Commission (SEC) lodged a complaint with the Department of Special Investigation today, accusing three former executives of STARK Corporation Public Company of insider trading. According to…

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Cabinet agrees minimum wage increases

The cabinet agreed to increases in minimum wages by 2-16 baht/day today, as proposed by the tri-partite wage committee. The new rates will become effective on January 1. There are…

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2023’s top stories: Financial scandals took a toll on Thai stock market 

Major irregularities at Stark Corporation, a wire and cable manufacturer, made headline news in 2023 and was undoubtedly the biggest financial scandal of the year with far-reaching impact.  Stark executives, board  members…

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Bangkok’s 20-baht metro dream in danger of derailing

Bangkok commuters’ dream of paying no more than 20 baht for a metro ride regardless of distance traveled still faces serious obstacles.  Even with the ruling Pheu Thai Party by…

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Over 100,000 borrowers seek help to settle informal debts

A total of 105,482 borrowers have signed up since the beginning of December for government assistance in tackling their informal indebtedness, estimated at about 6.5 billion, Government Spokesman Chai Wacharonke…

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Wage committee rejects PM’s call to readjust minimum wages 

The tri-partite wage committee has rejected Prime Minister Srettha Thavisin’s request for them to reconsider their recent decision to increase the minimum wage by only Bt2-16 a day and the…

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AOT to continue building two new airports to handle more passengers

Airports of Thailand (AOT) will continue to expand the capacity of its existing airports and build two new airports, with an estimated investment of Bt150 billion, to cope with the…

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The gold line

BMA considers transferring operation of three train lines to MRT

The Bangkok Metropolitan Administration (BMA) is considering transferring the operation of three elevated train lines to the Mass Rapid Transit Authority of Thailand (MRT). They are the Gold Line, between…

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Cabinet freezes diesel and cooking gas prices for 3 months, raises electricity price

The Cabinet decided today to freeze the retail prices of diesel and cooking gas from January 1 until the end of March, but to raise the price of electricity from 3.99…

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Finance Ministry reveals approach to tackling formal indebtedness

The Ministry of Finance unveiled details of its plan to solve formal debts today.  Dr Paopoom Rojanasakul, secretary to the finance minister, said formal debtors seeking state help will be…

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(From left) Pichai Chunhavajira, Suphajee Suthumpun, and Prof. Dr. Supasawad Chardchawarn

Top Thai executives air views on future business challenges

Two leading business executives have shared their views about the challenges and the unpredictability of doing business in the future, ranging from depleting natural resources and digital disruption to emerging…

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Prime Minister Srettha Thavisin with his Japanese counterpart Fumio Kishida during their meeting on Sunday.

Srettha invites Japan in development of digital economy, auto industry

Prime Minister Srettha Thavisin said he has invited Japan’s leading companies to join in the development of Thailand’s digital economy and the auto industry. Japanese Prime Minister Fumio Kishida on…

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Telco regulator asked to review TRUE’s service charges and quality

Four members of the National Broadcasting and Telecommunications Commission (NBTC), Thailand’s broadcast and telecom regulator, have proposed that the commission consider the service charges and quality of True Corporation after…

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