The economic progress of Thailand experienced a setback in the second quarter of 2023, with a reported decline in GDP growth from 2.6% to 1.8% on a year-on-year basis. This data, released on August 21 by the National Economic and Social Development Council, fell short of the general consensus of 3.1% and the projected growth of 2.9%. The numbers also reflected a modest growth of 0.2% quarter-on-quarter when adjusted seasonally. As a consequence of these subpar figures and persisting economic adversities, the BMI – a company under the umbrella of Fitch Solutions – altered its forecast for the full-year growth, declining from 3.0% to 2.8%, which is below the 3.6% consensus expectation and the average marked between 2010-19. An in-depth review of these recent statistics presents several fragile areas in the country’s economic landscape. Government expenditure witnessed a 4.3% annualized depletion in the second quarter, primarily due to uncertainties in…
Posts published by “Editorial Team”
The esteemed Thai National Health Security Office (NHSO) is musing over a potential enhancement to its bountiful offerings under the highly lauded 30-baht healthcare all-encompassing package, colloquially recognized as the “gold card” schema. The future inclusion in the revered scheme might robustly span over cancer-related medical aid and complimentary screenings for those yet to obtain their gold card. In a notable announcement, the authoritative secretary-general of the NHSO, Jadet Thammathat-Aree, revealed his organization’s audacious projections to radically spread its wings in the realm of cancer therapy and diagnostics. The NHSO’s central objective of making medical intervention cost-effective for common residents remains the driving force behind this initiative. The health office’s meticulous explorations span across exploring potential pharmaceutical aids worthy of being added to the esteemed national list of essential medicines. Delving into the specifics, Jadet Thammathat-Aree elucidated the ongoing dialogue between the NHSO and prominent pharmaceutical entities. The objective of…
In a recent event, Outgoing Deputy Prime Minister Wissanu Krea-ngam stated that former National Police Chief Pol Gen Patcharawat Wongsuwon’s dismissal from his prior position did not prevent him from assuming role in the upcoming Srettha cabinet. Krea-ngam claimed that despite Patcharawat Wongsuwon’s prior termination, this does not hinder him from serving as potential Deputy Prime Minister and Minister for natural resources and the environment. Krea-ngam, a respected figure within the cabinet for his knowledge of legal matters, clarified that although Wongsuwon was removed from his position of National Police Chief at one stage, he was later reinstated by the National Council for Peace and Order (NCPO), effectively nullifying the dismissal. Therefore, his forthcoming appointment would not violate the constitution, as per Krea-ngam’s interpretation. The discussion emerged as responses to objections claiming that Wongsuwon, Chief Advisor of the Palang Pracharat Party (PPRP) and younger sibling of the Party’s leader Gen…
In the pastoral district of Mae Sariang, located in the enchanting province of Mae Hong Son, a significant matter deserves attention. This peaceful area of Thailand, known for its verdant landscapes, has been thrust into the heart of a burgeoning humanitarian crisis. The situation involves refugees from Myanmar, who have been calling makeshift shelters in Mae Hong Son their home since June, after fleeing escalating violence in their homeland. As per the latest reports from The National Human Rights Commission (NHRC) of Thailand, a disconcerting picture has emerged. The nefarious conflict between the Karenni Army (KA) and the Myanmar junta has led to the displacement of more than 9,400 innocent civilians who have sought sanctuary across the border. These refugees have settled along the vivid expanses of Mae Hong Son, specifically within the Muang, Khun Yuam, and Mae Sariang districts that lie across from the troubled Kayah state in Myanmar.…
The sight of firemen tirelessly dousing water on the charred shell of a hazardous chemical container at the Laem Chabang port, located in the Si Racha district of Chon Buri, was a vivid reminder of the challenges they face. This incident, which occurred on a Tuesday, was captured in a striking photograph by Pongpat Wongyala. A container filled with hazardous chemicals sparked a fire at the Laem Chabang port in Chon Buri province. This alarming incident led to the rapid evacuation of 183 diligent warehouse workers. Unfortunately, six of them suffered from respiratory difficulties due to smoke inhalation. The fire took hold in the JWD warehouse, situated in the Thung Sukhla region of Si Racha district, sending up plumes of ominous black smoke. Thanks to the swift action of the firefighters, the inferno was tamed within about half an hour. According to Health permanent secretary Dr. Opas Karnkawinpong, the fire…
In a surprising turn of events, an accomplished couple from China has been apprehended by law enforcement in Pattaya. This couple allegedly orchestrated a series of deceptive investment ventures on their native soil – ventures that are said to have cost unsuspecting investors a colossal 1.5 billion baht, the Immigration Bureau reports. Early Tuesday, during an informative session aimed at shedding light on a series of clampdowns on foreign fugitives taking refuge in Thailand, the Bureau’s Commissioner, Pol Lt Gen Pakphumpipat Sajjapan, unveiled the couple’s arrest. Chinese authorities had lodged a formal request for their apprehension, asserting that they fled China for Thailand following their massive fraudulent operations that divorced people from their 1.5 billion baht. The Commissioner evidenced exceptional investigative prowess in describing how the authorities traced the duo to a hotel in Pattaya. Their visas were subsequently nullified, following which these alleged swindlers were turned over for further…
In 2022, a high-profile rescue operation was carried out by Thai authorities, liberating two dozen individuals held captive by criminal Chinese gangs operating scam centers from a building in Sihanoukville, Cambodia. This harrowing incident serves as a stark reminder of the rampant human trafficking and forced labor situation that has been escalating across Southeast Asia in recent years. This information comes courtesy of the United Nations, in a comprehensive report released earlier this week. Based on the UN report, which relies on inputs from trustworthy sources, there’s the likelihood of approximately 120,000 individuals in Myanmar and nearly 100,000 in Cambodia being ensnared in these fraudulent schemes. Similar illegal ventures – from cryptocurrency fraud to illicit online gambling – opportunely run by crime syndicates are prevalent in other Southeast Asian countries, including Laos, the Philippines, and Thailand. Volker Turk, the UN High Commissioner for Human Rights, stated in no uncertain terms,…
In a recent update on the financial environment in Thailand, data from the National Credit Bureau, as cited by the economic council, revealed increasing debt accumulation among the Thai population. As it stood at the close of the first quarter, there were over 83.1 million accounts stained with debts. A striking aspect of this debt is that only one third of all Non-Performing Loans (NPLs) originate from commercial banks, accounting for just 2.6% of the total household debts, as noted by Vorawan Plikamin, the NESDC Deputy Secretary General. The remaining majority of debts originate from non-banking financial institutions, raising concerns about the financial habits of the Thai demographic. Youth workers under 30, along with the senior demographic between 50-59 years old have caught particular attention, as their contributions to NPLs experienced the largest increase: a concerning 4.1% rise year on year. Vorawan expressed particular concerns over Generation Y (ages 18-32)…
Nothing short of a digital revolution is taking its course in Thailand, driven by the nation’s embrace of technology and innovation. The digital voraciousness of all Thai citizens regardless of age or occupation, is part of a bigger attempt to propel the nation towards as compared to a vital frontier of future growth and prosperity, according to a ground-breaking research study. This study is a wake-up call to the monumental shift in digital adoption, showcasing substantial improvements over the years. As reported by the ever-committed Permanent Secretary Wisit Wisitsora, internet accessibility rates across Thai households witnessed a discernible uptick from 88% in 2022 to a staggering 89.50% this year. Alongside, connectivity rates also surged from 85% last year to a laudable 87.60% today. Despite the impressive statistics, the digital landscape is not devoid of issues with an alarming 14.52% of users reporting instances of data and privacy breaches. Bridging this…
In a recent announcement, the Governor of IEAT (Industrial Estate Authority of Thailand), Veeris Ammarapala, informed that ongoing studies are currently being undertaken on hydrogen fuel sources. This exploration seeks to contribute to the electric bus power source network, and power generation in the larger sector. Focus areas of this study include the Map Ta Phut and Smart Park industrial estates, falling within the realm of the progressive Eastern Economic Corridor. The mentioned study is the joint effort of several industrial partners that include but are not limited to Bangkok Industrial Gas, Thai Takasago, Hitachi Zosen Corporation, Toyota Motor Thailand, Toyota Tsusho (Thailand), and PTT. The goal is not only to explore energy possibilities but also to establish clear guidelines for clean-energy companies looking to set up businesses within the industrial estates and how to navigate their transactions. Akkarapala added that this joint effort supports Thailand’s Bio-Circular-Green (BCG) economic model.…