Track Thailand's economy in English — business, trade, finance and market news, covered by Thai PBS World, Thailand's public broadcasting service.
Debtors of commercial banks or non-bank institutions can now apply for help from the government to reduce their repayment burden under the “khunsoo rao chuay” (you fight, we help) program, created jointly by the Finance Ministry and commercial banks, both private and state-owned.
While Thai people say “Jai yen yen”, or calm down - be patient, when someone is jittery, this strategy is no longer appropriate when facing increasing competitiveness in the region, former chairman of Joint Foreign Chambers of Commerce says.
All 10,000 entitlements under the “50:50” spending program, designed to promote tourism in 17 northern provinces, have been fully subscribed and used, according to Somchai Chomphunoi, director of the northern regional office of the Tourism Authority of Thailand.
Private sector has voiced strong objection to the government’s plan to increase the minimum wage for all workers throughout the country to 400 baht, warning that the a national standard minimum wage will impact all businesses and may result in mass layoffs or closures of businesses.
Prime Minister Paetongtarn Shinawatra confirmed today that the government has no plan to increase value-added tax to 15%.
Flooding in northern and north-eastern provinces in September has caused economic losses estimated at about 75 billion baht or 0.5% of GDP, while the ongoing flooding in southern provinces may cause damage costing between 5 and 10 billion baht, or 0.03-0.06% of GDP, according to Sanan Angubolkul, chairman of the Joint Standing Committee on Commerce, Industry and Banking.
The cabinet instructed the Finance Ministry today to review the second phase of the “digital wallet” scheme, under which about four million people over 60 would have received a 10,000 baht cash benefit next January.
The Thai public are no strangers to financial scandals. But when police held a press conference on November 23 and announced arrest warrants for Dr Boon Vanasin, 86, the founder and former chairman of Thonburi Healthcare Group (THG), it sent shockwaves.
Creditors of Thai Airways International (THAI) approved, by majority vote on Friday, the two additional rehabilitation plan administrators proposed by the Finance Ministry.
The Ministry of Energy has agreed to cut the price of electricity by three satang, from 4.18 baht per unit to 4.15 baht, from January through April next year.
Commerce Ministry is running various projects to support upcycling businesses, adding value to products and services and promoting sustainability, according to Poonpong Naiyanapakorn, the director of the Trade Policy and Strategy Office (TPSO).
Southeast Asia could benefit from the US president-elect Donald Trump’s vow to impose 60% tariffs on Chinese goods, as the rapid shift in global supply chains is driving new investment into the region, according to Indonesia’s former finance minister, Dr. Muhamad Chatib Basri.
