Track Thailand's economy in English — business, trade, finance and market news, covered by Thai PBS World, Thailand's public broadcasting service.
The International Monetary Fund (IMF) has adjusted Thailand’s GDP growth forecast, from -7.7% to -7.1% for 2020. This is an indication that the Thai economy is recovering after the Government eased lockdown restrictions, according to Finance Minister Arkhom Termpittayapaisith. He attributed the gradual economic recovery to the Government’s actions to help all businesses improve their
The Organization for Economic Co-operation and Development, or OECD, has published its assessment of the Thai economy, saying that the pandemic has interrupted Thailand’s socioeconomic progress. In its recent 163-page report, the OECD said Thailand has made impressive economic and social progress over the past decades, thanks to a strong policy framework, business friendly climate
Two companies in Thailand’s northern province of Chiang Rai have recently won Gold Prizes for their two tea products at the World Green Tea Competition 2020, held in Shizuoka prefecture in Japan. The two winning tea products are the Assam green tea, of 1×2 Ban Phayaprai Laoma tea factory, and the Oolong Khao Hang-Ngok tea,
Two senior engineers, working for Thailand’s Energy Business Department, have been arrested at their office by anti-corruption officials for allegedly demanding bribes from an oil business related company, to facilitate the processing of paperwork. The two engineers were identified as Mr. Chakchai Tangpratchayakul and Mr. Thapanapong Pasonpat, both specialists attached to the Oil Business Safety
The coronavirus pandemic has triggered an economic recession, with no sign of recovery in the near future. By the end of this year approximately 3-4 million people will be unemployed, according to the Thailand Development Research Institute (TDRI). More than 100,000 job seekers attended Job Expo Thailand 2020 at BITEC Bang Na, between September 26th
Thailand’s Anti-Money Laundering Office (AMLO) is in the process of verifying a report, by the International Consortium of Investigative Journalists (ICIJ), that four Thai banks have been involved in suspicious financial transactions, worth about 41.31 billion baht, over nearly two decades. Responding to the ICIJ report, AMLO Acting Secretary-General Pol Maj-Gen Preecha Charoensahayanont said today
Thailand’s Energy Policy Committee (EPC) has decided to freeze the retail price of liquefied petroleum gas (LPG) for household use for three months, in order to ease the financial burden on people during the COVID-19 pandemic. The committee also ordered the Energy Business Regulator to revise the forecast profits of the Electricity Generating Authority of
Thailand is preparing to welcome back foreign tourists – at least, those with deep pockets – from next month, with a strategy that seeks to restore its battered tourism sector without ruining its impressive COVID-19 record. Foreign visitors must agree to abide by the mandatory 14-day quarantine and also book a long stay. While many
The Thai cabinet has approved, in principle, the guidelines of the Ministry of Tourism and Sports to be used to open Thailand to long-stay foreign tourists, in a bid to revive the domestic tourism industry suffering from the lack of foreign tourists. Tourists, who meet the guidelines, will be issued with a special tourist visa
A subcommittee, of Thailand’s Senate Committee on Social Development and Affairs of Children, Youth, Women, Elderly People and Under-privileged people, has proposed a rethink and delay of a plan to increase the mandatory retirement age of government officials from 60 to 63. The panel has cited five reasons that the plan, which was originally to
Thailand’s Central Bankruptcy Court, this morning (Monday), approved Thai Airways International Public Company’s (THAI) debt rehabilitation filing and its rehabilitation planners. In approving the debt-stricken national flag carrier’s rehabilitation filing, the court ruled that the company is capable of generating revenues because of its business structure and the fact that the company has qualified human
All government units have been told, by the Budget Bureau, that disbursement of funds from the 2021 fiscal year budget will be delayed until after October 1st, the first day of the new fiscal year. An urgent letter from Mr. Dechapiwat na Songkhla, director of the Budget Bureau, dated September 10th, which was circulated to
