The National Economic and Social Development Council (NESDC) of Thailand, in its recent analysis of the local economic state, relayed the National Credit Bureau’s data demonstrating that Thai citizens have aggregated debts in a staggering 83.1 million accounts recorded as of the culmination of Q1. Strikingly, only a third of these NPLs (Non-performing loans) originated from commercial banks, accounting for a meagre 2.6% of total household debts. This essentially infers that many Thais have acquired a substantial portion of debts from non-banking financial institutions. These insights were put forth by NESDC’s Deputy Secretary-General, Vorawan Plikamin. It is noteworthy that Plikamin emphasised monitoring young professionals (under 30) and older individuals between 50-59 years, as these age categories have led to notable elevation in NPLs with a yearly increment of 4.1%. She expressed deep concern regarding the Gen Y (18 to 32 years) demographic as these individuals frequently invest in high-end commodities,…
Posts published by “Editorial Team”
Exploring the digital divide and mapping out the terrain of a digital era, this timely and relevant study zones in on the importance of digital inclusion. It keeps its focus on elevating the lifestyle of all citizens while providing valuable input for future policy directives, capturing the essence of Thailand’s journey into the digital universe. As relayed by Wisit Wisitsora, the ministry’s permanent secretary, marked indicators are noteworthy. This includes impressive internet access for Thai households, standing at an evolved 89.50% this year, representing an uptick from last year’s 88%. Furthermore, 87.60% of the population is connected to the vast online universe, up from 85% in 2022. These achievements, unfortunately, are not devoid of pitfalls, with personal data and privacy breaches affecting 14.52% of the users. Another revelatory statistic is the resurgence observed in internet usage among individuals in the age bracket of 55-74 years. Recording a significant leap from…
Thailand’s formidable progress in sustainability efforts was highlighted recently when its ranking rose to the 43rd position from last year’s 44th, according to the Sustainable Development Solutions Network (SDSN). This bit of information was shared by Thanyaporn Krichtitayawuth, the network’s executive director, who was referencing the figures from the Sustainable Development Report 2023. Discussing the performance, Thanyaporn Krichtitayawuth revealed that Thailand’s impressive score of 74.7 in 2023 strikingly outweighed the East and South Asia average score of 67.2. While the rise in the global ranking is a remarkable feat, this 74.7 score further fortified Thailand’s position as a sustainability leader in the region. As for the Association of Southeast Asian Nations (ASEAN), Thailand has been the exquisite leader for the past five years (2019-2023), sitting firmly at the top of the rankings. This exceptional performance is followed by countries like Vietnam securing 55th position globally, Singapore trailing at the 64th…
In a recent announcement, Veeris Ammarapala, the acting governor of the Industrial Estate Authority of Thailand (IEAT), underscored a strategic effort to transform the energy landscape. This is to be accomplished with the embrace of cutting-edge technology and clean energy within the Eastern Economic Corridor’s pivotal Industrial estates, namely Map Ta Phut and Smart Park. This innovative venture is a collaborative brainchild of an impressive consortium featuring both global and domestic stalwarts from diverse sectors. The partners include Bangkok Industrial Gas, the technology-driven Hitachi Zosen Corporation, Thailand’s state-owned PTT, the efficient Thai Takasago, and a powerful representation from the automobile sector – Toyota Motor Thailand along with Toyota Tsusho (Thailand). New age and green energy solutions are the key themes of the study, which aims to primarily explore the coherent potential of hydrogen fuel for powering electric buses and generating electricity. The governor further noted that the study will also…
From the insightful corner of the Department of Fisheries comes a voice of both authority and concern, Ratnavali Poosawat – a trained ecologist. Ratnavali sheds light on an alarming issue: the oceans, which serve as sponges, absorbing nearly 90% of our planet’s heat energy. With escalating global temperatures and the oceans absorbing roughly 30% of CO2 emissions, oxygen levels in the waters are plummeting, leading to an unsettling phenomenon known as ‘ocean acidification’. According to Ratnavali, global warming doesn’t work solo, it also disrupts wind patterns and degrades water quality in our seas. When we add the complications brought on by human activities, such as littering in the oceans, the impact on marine life becomes undeniably severe. Any living creature that depends on seafood for survival will face increasing struggles to obtain nourishments. Obviously, this chain reaction poses direct implications on human food supplies, Ratnavali remarked. Picture this – on…
Published in the 23rd issue of the “Tropical Natural History” journal, an exciting discovery has emerged from the thickets of Thai research. The man leading the charge was the esteemed Pan Yeesin, an influential figure from the Technology and Industries Department, housed under the Faculty of Science and Technology at Prince of Songkla University, nestled in Pattani province. Collaboratively, they worked diligently alongside other experts from the Princess Maha Chakri Sirindhorn Natural History Museum in Songkhla province. Their team was further strengthened by the experienced Professor Peter Ng from the Lee Kong Chian Natural History Museum at the National University of Singapore. Unveiling their findings, Pan declared the spotting of the Geosesarma Todaeng vampire crabs, unearthed within the intricate root system of Lum Phee (eleiodoxa conferta). This unique plant belongs to the palm family and thrives in a swamp forest located in Narathiwat. The discovered vampire crabs belong to the…
In the heart of Thailand, the Department of Rail Transport (DRT) is at the forefront of an exciting new initiative. There’s a buzz in the air as they deliberate on actualizing the commitment made by the Pheu Thai-led coalition regarding a prospective ceiling price for Bangkok’s electric train fares, targeting as little as 20 baht per journey. This intriguing notion was made public by a member of the DRT on Monday, who also suggested that the results of the investigation will be shared with the incoming administration at the right time. Fascinatingly, there are two main strategies under consideration on how to enact this policy. The first of the duo would apply solely to the humble individuals with low-income who are holders of a state welfare card. Economically, this option seems more viable as it involves the government subsidizing the fares of these cardholders. At present, roughly 31,019 of these…
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…
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…