In the heart of Southeast Asia, Thailand’s economy is beginning to show signs of resurgence, checks in to Thailand’s hallmarked council chief, Chaicharn Charoensuk. In the wake of a turbulent year caused by a bring-and-cold economic climate, it’s no surprise that Thailand had seen a drop in its exports. However, the wheel of the economy is slowly regaining its momentum, despite the deep grooves left by the unstinting contraction earlier in the year. “Though we are on a forward path now, we cannot forget the long shadows of the past year,” Charoensuk advises. “Our growth, despite being stronger than in many months, is still rivaled by the negative echoes of our recent history.” A diligent observer would have noticed the subtle indications of green shoots sprouting in August. A moderate growth rate of 2.6% was recorded – a token of revival unfelt for the past 11 months. This glow of…
Posts published by “Editorial Team”
Stepping into a new fiscal year, the Thai budget outlays an impressive surge of 9.3%, growing from the previous fiscal’s allocation of 3.185 trillion baht. Unsurprisingly, it depicts the government’s proactive approach towards economic restoration after the crippling effects of the global pandemic. Examining the breakdown, recurrent spending encapsulates the lion’s share of the total budget with a whopping 2.535 trillion baht, making up a solid 72.85% of the overall outlay – a testament to Thailand’s commitment to maintaining continuity in its operations and serving its citizens’ ongoing needs. An interesting slice of the pie goes to replenishing the Treasury with a sum of 118.36 billion baht – accounting for 3.40% of the budget. This allocation is an essential part in ensuring the government’s function in fostering the nation’s economic growth and stability. On the investment side, we see a substantial injection of 715.38 billion baht into the budget, equivalent…
In the vibrant world of digital finance, four stalwarts – Nares Laopannarai, head of Thai Digital Assets Association, Phromthep “Dave” Malhotra, Sold Outt CEO and co-founder, Sanjay Popli, Cryptomind Group’s CEO and co-founder, and Sarita Singh, Stripe’s regional head and MD for Southeast Asia – have asserted their opinions about the transformative role of digital wallets for Thailand. Amidst the heated debate revolving around the government’s proposal for a 10,000 baht digital wallet scheme, these proactive discussions reiterate their singular focus on the need of digital wallets in the context of the digital economy without any political or economic subtexts. Driving the economic growth of Thailand, digital wallets are no longer considered a mere luxury; instead, they are a strategic necessity shaping the country’s financial future. These wallets bring numerous benefits on the table – from fostering financial inclusion to enhancing cybersecurity. They simplify financial transactions, not just making them…
Marking the glorious milestone of 65 years of diplomatic ties, we’re bringing to you a vibrant cultural fiesta brimming with cultural anecdotes from both Korea and Thailand, oozing soft power exchange. Our ceremonial spectacle springs into action with an impressive K-pop cover dance curated by ‘The Stars,’ an inspiring team boldly breaking stereotypes associated with Down syndrome. This spirited commencement paves the way for ‘Gilnori’ and ‘Ginori,’ stunning displays of Korean traditional performances. We also have the Korean Percussion Group ‘In Phung-ryu’ breathing life into the celeberation with their music, intriguing instruments and flag displays, threading a traditional narrative into modern celebrations. To offcially set the ball rolling, our honorable Jeonghan Ham, the Chargé d’affaires of the Korean Embassy, will be delivering the opening remarks. Brace yourself for an array of captivating performances lined up, including a unique blend of Thai traditional dance and the martial art of Muay Thai,…
For the fiscal year 2024, the Interior Ministry has emerged the top dog, boasting the largest budget allocation of 353.1 billion Baht. This constitutes an appreciable surge of 27.8 billion or 8.57% from the previous fiscal year. The rising allocations towards this ministry testify to the government’s relentless commitment and determination to uplift the society’s infrastructural and developmental standing. Pulling in second place is the Education Ministry, bolstering the importance of knowledge and learning with an allocated budget of 328.3 billion Baht, a slight but significant lift of 1.01 billion from the preceding fiscal year, marking a 0.31% increase. It underscores the potent role of education as the primary catalyst in shaping Thailand’s future. The Finance Ministry, sitting in third place, registers an impressive 327.1 billion Baht in allocated funds, marking a formidable 42 billion Baht or 14.73% rise year on year. Indeed, controlling the fiscal health of the nation…
In the realm of consumer alert news, Panda Lab, a notable medical technology firm, has blown the whistle on a burgeoning travel con, reporting a figure of over 50 million baht swindled successful from unsuspecting travellers. These revelations, unveiled on Panda Lab’s Facebook page, target a high-profile tourism webpage belatedly finding fame not for its services, but for its alleged fraudulent practices. The Consumer Organisation Council has laid down multiple avenues for victims to voice out their concerns and complaints. As per the report uploaded by Panda Lab, several travellers, initially excited about their planned trips, suffered the disappointment of their tours being deferred. But the real nightmare began when they attempted to cancel their bookings. Not only were their requests for cancellations overlooked, more importantly, they were denied the accompanying reimbursement, culminating in a massive loss exceeding 50 million baht. The post, an ominous warning to potential travel enthusiasts,…
Imagine this – you’re at the ripe old age of 70, and you’re not kicking back and enjoying retirement, oh no. You’re applying for work at Charoen Thai Sukiyaki Soi 4, a renowned Sukiyaki restaurant nestled in the bustling heart of your city. Why, you might ask? Because you have an ageing mother to care for, and because life doesn’t always come gift-wrapped with a pension plan. This heartwarming narrative is the journey of one exceptional elderly gentleman who kept defying the status quo and outpaced life’s unending challenges. The iteration of this story began during the menacing waves of the Covid-19 pandemic. The elderly gentleman, with steadfast determination and resilience, approached the restaurant in search of work. Unfortunately, the plague had crippled businesses across the globe, and there were no positions open at the time. But, despite the odds, the old man left an imprint of hope. A flame…
Thailand, a country known for its tropical climate, is about to get a mellow tune-up in the weather symphony. An increase of 1 to 2 degrees Celsius is in the forecast across the country, signifying a retreat from the recent chilly spells, according to the Thai Meteorological Department (TMD). However, fear not; the essence of cool mornings still persists, particularly in the north and northeast region, complemented by occasional drizzles in some areas in the southern region. The TMD has projected this weather shift to propel over the coming 24 hours, pointing to the subtle weakening of the high-pressure system otherwise known as the cold air mass encasing the country. The northern terrains will sustain their tranquil cool with an impression of the morning fog, a sight to stir a sense of mystery. Some places might even see a denser fog veil. Overall, the temperatures are primed to ascend about…
Amid the relentless Israeli-Gaza war, a ray of hope seeped through the seemingly impenetrable clouds of conflict as Israel and Hamas struck an unanticipated agreement: a swap deal involving hostages and prisoners. An exchange of this magnitude signals a promising development for the Thai workers who tragically fell into the chains of hostage during the skirmish. Prime Minister of Thailand, Srettha Thavisin, reflected a glimmer of positivity, foreseeing the ceasefire arrangement between the two opponents indeed accelerating the Thai hostages’ release. The prime minister, 61 years of age, radiated confidence and declared, “We are confident there will be good news.” Thavisin revealed the Thai government’s ongoing discussions with Qatar to aid the Thais trapped in Israel’s evacuation. Nonetheless, he issued a warning to Thai workers still ensnared in the geographical confines of volatile Israel against returning to conflict-prone zones while the ceasefire existed in the fragile period of the battle.…
In a recent press conference, Prime Minister Srettha Thavisin confirmed to the nation and broader global community that the visa exemption plan set in place for Chinese tourists is here to stay, undeterred by the multiple flight slot cancellations from several Chinese airlines. The surprising cancellations were fueled by a diminished demand in passenger flights to Thailand. It appeared that airlines anticipated a higher demand when they acquired slots for flights to Thailand and subsequently procured ground handling services for their aircraft. However, faced with less than satisfactory flight subscription rates, these airlines had to relinquish their rights to land and take-off. The unforeseen slump in demand is generally traced back to China’s less than perky economic bounce back post-pandemic and the Chinese government’s ongoing campaign to endorse local travel over international journeys. Prime Minister Srettha, 61, remains steadfast in his conviction, highlighting the importance of the visa exemption arrangement…