Thailand to focus on socio-economic recovery in the next two years Thai Prime Minister Prayut Chan-o-cha has underscored that the country’s economic and social development plan over the next two years should focus primarily on community-level economic development, enhancing competitiveness, upgrading human resources and infrastructure development. Bangkok (VNA) – Thai Prime Minister Prayut Chan-o-cha has underscored…
Thai cabinet adds 2 more 4-day long weekends A holiday-led economic recovery. That appears to be a part of the government’s agenda following yesterday’s meeting of the Thai cabinet. 2 new holiday weekends have been created, one in November, one in December, in efforts to further stimulate the economy. In both cases the extended weekends…
Thai automakers applaud landmark ASEAN accord to ease test rules Recertification by importers to be axed, reducing risk of non-tariff barriers BANGKOK — Thailand’s automobile industry has welcomed a landmark accord by the Association of Southeast Asian Nations that skirts testing regulations imposed by some importing nations, a move seen to benefit the largest automaking…
Thailand’s biggest economic slump since 1998 triggers more fiscal stimulus THAILAND’S economy suffered its biggest contraction since the Asian financial crisis in the second quarter due to the fallout of the coronavirus, prompting the government to slash its GDP forecast for the year and announce more stimulus. Data from the state planning agency showed a…
Thailand creates new economic centre to recover COVID-19-hit economy The Thai cabinet on August 13 agreed to establish a centre to address the economic situation heavily battered by the COVID-19 outbreak. Bangkok (VNA) – The Thai cabinet on August 13 agreed to establish a centre to address the economic situation heavily battered by the COVID-19 outbreak. The economic…
Thailand’s New Economic Team Takes Charge as Growth Sputters (Bloomberg) — Former banker Predee Daochai was inaugurated as Thailand’s new finance minister in Prime Minister Prayuth Chan-Ocha’s revamped Cabinet that’s tasked to lead the country out of its worst-ever economic crisis amid mounting anti-government protests. King Maha Vajiralongkorn sworn in Predee and Supattanapong Punmeechaow, a…
UTCC: 11.4% contraction in GDP forecast for 2020 Thailand’s economy is likely to contract by as much as 11.4% this year, its worst showing, attributed largely to the pandemic impact, volatile foreign exchange, widespread drought and the continued US-China trade spat. Thanavath Phonvichai, president of the University of the Thai Chamber of Commerce, said the…
Private sector hopes new economic team will ensure continuity and serve as coordinator BANGKOK (NNT) – The private sector would like the government’s new economic team to continue the previous team’s work and serve as a coordinator between government agencies and private firms, in an effort to revive the domestic economy quickly. The President of…
PM visits Sisaket, follows up economic development SISAKET (NNT) – The Prime Minister has made his first official trip since the COVID-19 outbreak to Sisaket province, observing the adaptation of people’s lives to the New Normal as well as following up on local economic projects. His first stop in the province was at Tubtim Durian…
Thailand passes record Bt1.9-trillion stimulus package The Thai Parliament approved three key emergency decrees providing Bt1.9-trillion aid package to businesses and people hit by the Covid-19 fallout Thailand’s parliament approved a 1.9 trillion baht (US$59.7 billion) stimulus package, the kingdom’s biggest-ever cash injection, as Southeast Asia’s second-biggest economy is expected to contract by 6 to…