Thailand economic freedom climbs to 3rd in ASEAN vowing property and contractual rights Thailand ranked 3rd in ASEAN, 9th among 40 Asia-pacific countries and 42nd in the World on the most recent on Economic Freedom index. Singapore tops the list for the second consecutive year, followed by New Zealand and Australia. Thailand has a business freedom index of 85.3 out…
Thailand-Russia trade expansion MoU targeting US$10 billion by 2023 approved The Cabinet has approved a memorandum of understanding (MoU) on the expansion of trade and economic cooperation between Thailand and Russia. The objective of the MoU is to enhance and strengthen relations, as well as expand economic cooperation and technological development. The Thai-Russian Trade and Economic Cooperation subcommittee has set a trade-value target of US$10 billion by 2023…
High value-added economy in focus The next national economic and social development plan should aim to provide Thailand a high value-added economy, according to the state planning unit. Danucha Pichayanan, secretary-general of the National Economic and Social Development Council (NESDC), said the NESDC board on Feb 15 approved a development framework for the country’s 13th…
Thai central bank leaves rate at record low, warns of economic risks Thailand’s central bank left its key interest rate unchanged at a record low on Wednesday, February 3, preserving its limited policy ammunition, but warned of risks as the country deals with a fresh wave of coronavirus infections. Southeast Asia’s second largest economy continues to recover…
ASPS: Thai bourse can expect inflows Capital inflows will move towards risky assets, especially in Asia including Thailand after the International Monetary Fund (IMF) revised its world GDP growth estimate for 2021 from 5.2% to 5.5%, a signal the economic impact of the pandemic may have receded, predicts Asia Plus Securities (ASPS) Research. According to…
Asia’s supply chains to be tested by COVID-19 vaccine delivery The global logistics company DHL estimates that global vaccine coverage will take around 200,000 pallet shipments and 15 million deliveries in cooling boxes as well as 15,000 flights. The enormous logistical challenge of vaccine distribution will be aided by trade and supply chain finance guarantees.…
Thailand Tops Bloomberg’s Emerging Markets List Bloomberg surveys show that analysts are penciling in high rates of growth next year for some of those that have been hardest-hit in 2020. Thailand and Russia are well placed to be among the emerging-market standouts that could beat expectations next year, according to a Bloomberg study of 17…
Recovery momentum picks up in Q3 Thailand’s economic recovery momentum gained traction thanks to quarter-on-quarter GDP growth in the third quarter, with exports and public investment expected as the main growth drivers for next year, says a research house. GDP contraction has been upgraded to 6.4% from a 10.3% decline projected previously, attributed to an…
Thais, Russians aim for US$10bn in trade by 2023 Thailand and Russia have agreed to raise bilateral trade to US$10 billion in 2023, in part to help reboot the economy after the Covid-19 outbreak. Speaking after Thursday’s video conference with Vladimir Ilichev, Russia’s deputy minister of the Economic Development Ministry, during the fourth meeting of…
BoT sees slower recovery in 2021 Thailand’s economic recovery is expected to take longer than previously anticipated, mainly due to the drastic decline in foreign tourist numbers, says the Bank of Thailand. The central bank slashed its GDP growth forecast for 2021 from 5% to 3.6% as the pandemic continues to hamper international travel. The…