In the early waves of June, forecasts were made by the office that projections for industrial GDP of the ongoing year would display a 0.0-1.0% increment. Similarly, the manufacturing production index (MPI) was also anticipated to demonstrate the same percentage growth. Despite such expectations, numerous challenging factors began influencing the manufacturing landscape of the country critically, prompting the Office of Industrial Economics (OIE) to revise its industrial GDP forecasts for the year 2023 to a sharp decrease ranging from 1.5% to 2.5%, and the MPI to a slip between 2.8% and 3.8%. This disheartening news was delivered by the director-general of the OIE, Warawan Chitaroon, last Thursday. According to Warawan, the chief determiner amongst these influencing factors is the eroding purchasing strength of the agricultural sector. The sector has seen an average contraction of about 1.1% in recent months. An array of other detrimental factors like the slowdown of the…
THAI.NEWS - Thailand Breaking News
The Bank of Thailand is presently refining its GDP assessment for the forthcoming September convening, raising caution about the sluggish pace of exports and a lesser than anticipated influx in tourism. An additional concern on the table is the prospective influence of the digital cash handout initiative by Pheu Thai. As per Sakkapop Panyanukul who heads the macroeconomic division of BOT, the overall economic landscape and the financial climate in July evinced signs of revival, influenced by an increase in local spending due to a rise in consumption and a greater investment by the private sector. The tourism sector saw an upswing with foreign tourist arrivals touching 2.49 million as compared to 2.24 million in the prior month, a 0.9% increase. The cumulative tourist count this year marks an impressive 15.4 million, predominantly constituted by visitors from Russia, Malaysia, South Korea, and Japan. Nevertheless, despite the swelling numbers, revenue from…
The Department of Rail Transport (DRT) has publicly backed new plans proposed by the Pheu Thai Party regarding the Bangkok metro charges, stating that they could be viable with an annual budget allocation from the government. Valued at 5.4 billion baht, this subsidy would support a significant cost reduction in Metro fares. The Pheu Thai Party formally presented their policy for a flat-rate 20-baht metro fare during the recent election campaign period. Accompanied by a comprehensive budget proposal of 40 billion baht, the Party additionally requested an 8 billion baht annual contribution from the regular budget allocation to support ongoing costs. According to Pheu Thai Party representatives, the budget allocation is not only necessary, but advantageous—given that the potential benefits greatly exceed the involved costs. Pichet Kunathammarak, the director-general of the Department of Rail Transport, stated that while the proposed 20-baht fare policy indeed is feasible, there needs to be…
The esteemed Permanent Secretary of the Ministry, Dr. Opas Karnkawinpong, recently revealed that an impressive tally of 1,855 agencies under the ministry’s Office of the Permanent Secretary have been mandated to adopt solar technology before the current year sees its end. From Provincial Public Health Offices to community hospitals, a diverse range of agencies are incorporated in this directive, according to Dr. Opas. This progressive move is a part of the ministry’s forward-thinking Smart Energy and Climate Action (SECA) policy. Rooted in an unflinching commitment to sustainability, the policy aims to exponentially enhance energy efficiency, concurrently working towards significantly curbing carbon dioxide emissions, a major contributor to global warming. Dr. Opas further shed light on the tangible benefits of this initiative, anticipating annual electricity savings amounting to a whopping 904.35 million baht, alongside a reduction of 99,458 tonnes in carbon dioxide release each year. Adding another feather to their cap,…
In an unsettling economic climate characterized by looming fears of a recession and persistently high inflation and interest rates, investment prospects may seem few and far between. Nonetheless, avid stock aficionados assert that global interest rates are nearing their zenith, a claim that has piqued the interest of central banks around the world, who remain vigilant in their observation of inflation trends. Over in the United States, the Federal Reserve—a notable player in the investment scene—has upped the stakes by raising the federal funds rate to a staggering 5.25-5.50% in July, a leap unseen in decades. Its European counterpart, the European Central Bank, followed the upward trajectory albeit to a lesser extent, with a rate increment of 0.25%. The Bank of Japan, often synonymous with cheap money, is displaying signs of transitioning towards a more adaptable approach in managing the yield of government bonds. Among those closely watching the interest…
In the serene locale of Nong Kok village nestled within the province of Surin, a persistent and highly problematic issue has remained unresolved for over two decades. At the center of the town, a sprawling pig farm, spanning a distance greater than 2 kilometers, has been continuously causing distress among the villagers. A seemingly insignificant pig farm problem had morphed menacingly into something that drastically affected the community’s overall life quality. A pungent stench perpetually permeating the air has been the main complaint against the establishment. This noisome odor comes directly from the waste generated in vast amounts by the farm, instantly permeating the entire village. It’s not merely an issue of discomfort; the villagers complained of recurrences of health-related problems attributed to the powerful stench.\ The severity of these health issues had led to frequent hospital visits. Yet, despite continuous appeals to the responsible authorities, their pleas and complaints…
In the wake of a new government initiative to rejuvenate tourism via visa allowances, the Association of Thai Travel Agents (ATTA) has voiced its doubts. The ATTA asserts that a fluctuating economy and weakened currency could hinder the effectiveness of offering free visas to Chinese tourists, especially in light of employee and flight scarcity. With the aim to combat urgent issues such as the development of tourist attractions and reinforcing the nation’s image as a secure travel destination, the Federation of Thai Tourism Associations together with the Tourism Authority of Thailand are in the process of drafting an explanatory document set to be presented before the premier and Cabinet. ATTA’s President, Sisdivachr Cheewarattanaporn, has notably stressed the urgent need for fresh strategies to entice an increased influx of tourists. Concurrently, Adith Chairattananon, the honorary secretary-general of the ATTA, furnished two potential alternatives for the Chinese visa policy. One proposal entails…
As a passionate endorser of medical cannabis policy, Thailand’s Public Health Minister Anutin Charnvirakul recently voiced confident assurance about its ongoing acceptance and practice in the imminent health ministry. The conversation ensued at the Public Health Ministry, where Anutin put forth that properly administered cannabis came along with considerable benefits for its users. Additionally, he communicated a profound assurance that the forth-coming government would not wholly put a plug to this policy on cannabis for medical treatments. The incumbent leadership of the governing Pheu Thai Party, Anutin highlighted, still had the policy in their line of sight. Anutin underscored the necessity for changes to the policy, if any, to be discussed extensively amongst government members. In his view, the ideal way to proceed would be to enforce a law that regulates cannabis use. He suggested that the determination of the forthcoming government to restore cannabis to the narcotics list should…
With a progressive leap into the age of digitalization, Phuket International Airport is now facilitating its passengers to book Grab taxis directly from their smartphones, starting today. This innovative move is intended to enrich the commuting options available to travelers. The helm of the airport, Monchai Tanode, divulged that a selection of four ride-hailing app producers, including the likes of Grab, Asia Cab, Hello Phuket, and Air Asia, had put forth applications to ply their trade at the aviation hub. But at this embryonic stage, only Grab has been granted permission to extend its services to the passengers, leaving the remaining applications under a scrupulous review. Monchai added, “In order to secure passengers’ safety — a topmost priority, the Phuket Provincial Transport Office will rigorously inspect each of these ride-hailing services for compliance with safety norms.” Every taxi serving under these apps is necessitated to have a Global Positioning System…
In a coordinated operation characterized by meticulous planning and execution, the revered Khon Kaen law enforcement carried out an incursion on a noted locality, Suppaweed, notorious for dealing in kratom tea concocted with cough syrup. The raid, conducted yesterday, evolved from numerous grievances related to incessant operation of the commerce round-the-clock, as well as its association with disquieting clamor disturbing the peace of the community till late-night hours. Under the keen oversight of two prominent figures—Police Captain Danai Thanomchit and Officer Dulayaphop Saengsun, the District officer of Khon Kaen city, the assemblage carrying out the raid stumbled upon a hub teeming with customers. Tables across the establishment were adorned with glasses filled with kratom leaves. Additionally, cough medication was found in substantial quantities in both forms—pills and syrup. The collective haul from the raid included ten containers of Dastisin, deemed as a hazardous drug, together with, three bottles of Fatec…