Track Thailand's economy in English — business, trade, finance and market news, covered by Thai PBS World, Thailand's public broadcasting service.
Chinese, Russian and Myanmar nationals are the three top foreign buyers of condominium units in Thailand, acquiring 14,500 units worth about 73 billion baht last year, according to Interior Minister Anutin Charnvirakul. In 2019, before the COVID-19 pandemic, the three nationalities bought a combined 13,000 units, worth about 57 billion baht, but the purchases dropped
Prime Minister Srettha Thavisin has defended the idea, to allow foreigners to lease land in Thailand for up to 99 years and to own up to 75% of a condominium project, as being intended to boost the Thai economy, rather than to benefit foreigners. He said that the idea was conceived by the Finance Ministry
The cabinet has approved a ministerial regulation making the first 600,000 baht of compensation paid to laid-off workers not subject to taxation, increasing the threshold from 300,000, Labour Minister Phiphat Ratchakitprakarn said today.He said that the revised regulation is in line with the Labour Protection Act and in response to the demands of workers. According
Some companies are starting to hire the elderly. They see the unique strengths these workers have that younger generations might not, and they’re using this valuable experience to help their businesses grow. At the recent “O-Lunla Market #2” event, company representatives offered job opportunities specifically targeted at seniors. All companies recognise the strengths that the
The Interior Ministry has been assigned by the Cabinet to amend the Condominium Act, to increase the foreign ownership limit in a development from 49% to 75%, and to amend the Land Act, to allow foreigners to lease land in Thailand for 99 years, up from the current 50. Interior Minister Anutin Charnvirakul said on
Road haulage operators increased their charges by an average of 9% today and are threatening to go on nationwide strike if the government continues to ignore their demands for the price of diesel to be capped at 30 baht/litre. Apichart Prairungruang, president of the Land Transport Association of Thailand, said that they and their members
The Central Administrative Court dismissed a Bt40 billion lawsuit today, which had been filed against the Office of the Insurance Commission by Syn Mun Kong Insurance Public Company. The case was over the commission’s order banning the company from cancelling its “COVID 2 in 1” (jer-jai-job) insurance policies, which were sold to about one million
V8 Intertrading has won the bid for 15,000 tonnes of ten-year-old pledging scheme rice, with its offer of Bt19.07/kg, in an auction held today by the Public Warehouse Organisation. The company’s bid was the highest of those submitted by six local rice trading companies. They were V8 Intertrading, Tanasan Rice, SSMR Karnkaset, Sup Saeng Thong
When Thailand decided recently to join BRICS, the international community was taken aback because the announcement came hot on the heels of its submission to be considered for membership of the Organisation for Economic Co-operation and Development (OECD). Bangkok-based diplomats were perplexed by the timing of the decisions, as they appeared juxtaposed. The Pheu Thai-led
Are Thai industries under threat of a massive collapse, given rapid changes in technology, fierce competition from China and the planned hike in daily minimum wage? Two Japanese carmakers, Subaru and Suzuki, have announced that they will shut down their manufacturing sites in Thailand at the end of this year and next year respectively, amid
As Bangkok’s skyline continues to rise with new construction, a real estate developer integrates its ESG and CSR policies into its newest office building in the center of the capital. Director and Chairman of the Executive Committee of Raimon Land, Korn Narongdej, told Thai PBS World that half of the building’s land is dedicated to
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 campaigned. Released by the United Nations Development Programme (UNDP), the report says that businesses have used legal action, intimidation and violence to silence human rights
