July 22, 2024 The ASEAN+3 Macroeconomic Research Office (AMRO) maintains 2024-25 growth forecasts at 4.4% and 4.3%. Growth driven by exports, domestic demand, tourism recovery, despite U.S. risks and geopolitical tensions. Key Takeaways The ASEAN+3 region’s growth forecast for 2024-25 remains at 4.4 percent and 4.3 percent, supported by favorable export prospects, robust domestic demand, and a recovering tourism sector. Inflation in the ASEAN+3 region is expected to moderate to 2.1 percent in 2024, with downside risks related to geopolitical tensions and U.S.-related factors. The outcome of ..read more

July 15, 2024 While acknowledging that SMEs are the most affected by Thailand’s continuing economic woes, major corporations are also feeling the pinch. The Thai economy is experiencing a continuous slowdown, with the World Bank recently revising its 2024 economic growth forecast for Thailand down to 2.4%. The economic slowdown has clearly affected entrepreneurs, especially SMEs. And now concerns about the business sector are extending to big corporations. Chaiwat Kovavisarach, CEO of Bangchak Group and managing director of Bangchak Corporation, notes that in the current economic situation ..read more

July 15, 2024 The Thailand Board of Investment (BOI) officially opened today, July 14, 2024, in Riyadh, Saudi Arabia, its first office in the Middle East with a Saudi-Thai Investment Forum attended by senior government officials and business leaders from both countries who discussed opportunities to raise bilateral trade and investment cooperation to its full potential. The forum, which was held at the Movenpick Hotel Riyadh, started with welcoming remarks by H.E. Mr. Khalid A. Al-Falih, Minister of Investment of Saudi Arabia (MISA), and a keynote speech by H.E. Mr. Maris Sangiampongsa, Minis ..read more

July 12, 2024 Thailand will allow citizens of more countries to enter the kingdom via visa exemptions starting Monday as part of measures to promote tourism and encourage longer stays, Interior Ministry spokeswoman Traisuree Taisaranakul said on Friday. Ms Traisuree said Interior Minister Anutin Charnvirakul signed four documents to ease travel for foreigners, all of which will take effect on Monday pending their announcement in the Royal Gazette. The directives include a new list of countries eligible for visa-free entry into Thailand, increasing from 57 to 93. Visitors from these count ..read more

June 24, 2024 The Thailand Board of Investment (BOI) together with the Thailand Trade Representative conducted a roadshow to Japan between June 19-22, 2024 during which they held seminars and private meetings with Japanese companies to attract investment in target industries, such as the automotive sector and to discuss cooperation in upgrading various industries undergoing a technological transition. The delegation led by M.L. Chayotid Kridakon, Thai Trade Representative, and Mr. Narit Therdsteerasukdi, Secretary General of the BOI, took part to two “Thailand-Japan Investment Forum 2024” eve ..read more

June 21, 2024 Bank of Ayudhya Public Company Limited has partnered with Mitsubishi UFJ Financial Group (MUFG), the largest financial institution in Japan and the world’s leading financial institution group to host the Krungsri-MUFG ESG Symposium. The seminar was held on May 29, 2024 at the Siam Kempinski Hotel, Bangkok. Mr. Pavit Kesawawong, Deputy Director-General of the Department of Climate Change and Environment, The Ministry of Natural Resources and Environment said on the topic “Driving Thailand towards the Net Zero Goal” that the current events in the world are not as expecte ..read more

June 14, 2024 The Thailand Board of Investment (BOI) today approved the investment promotion applications of eight large projects worth a combined 56.95 billion baht (USD 1.54 billion), including a bio-ethylene plant project by the local joint venture of Brazil’s Braskem, as well as data centers, power plants, and a major new hospital. The meeting, which was chaired by Mr. Pichai Chunhavajira, Deputy Prime Minister, Minister of Finance, and Chairman of the BOI, also approved the introduction of a new investment promotion category covering service centers for the repair, repack, and reuse of u ..read more

June 13, 2024 The Board of Investment (BOI) is planning to increase investments in computer chips to support the rapid growth of the electric vehicle (EV) industry in Thailand, moving in tandem with the state’s plan to set up a national semiconductor board. Development of related industries is required as domestic EV manufacturing is gaining momentum, following higher investment from foreign companies, said Narit Therdsteerasukdi, secretary-general of the BoI. “We need to support investment in semiconductors, smart electronics and circuit boards as well,” he said. The move came after Finance ..read more

June 11, 2024 Despite having an advantage in digital talent, Thailand still faces challenges to ensure maximum benefits from the digital economy, digital transformation consulting firm Bluebik Group told The Nation during an exclusive interview on Friday. Thailand’s digital economy is expected to reach US$53 billion in 2025 with a 15-per-cent compound annual growth rate and is projected to double to approximately $100 billion to $165 billion in 2030, according to the e-Conomy SEA Report 2022, published by Google, global investment company Temasek and management consulting firm Bain & Comp ..read more

June 06, 2024 Thailand has the potential to become Asia’s Silicon Valley, Agoda CEO Omri Morgenshtern said on Thursday, while expressing his support for the government’s vision of transforming the country into a leading technology hub. His comments came after he met Prime Minister Srettha Thavisin at Agoda’s headquarters in Bangkok.  Morgenshtern said after a brief meeting with the Thai PM that they had discussed actions to advance Thailand’s status as a global centre for technological progress and innovation. “We see Thailand recognised not just for its rich culture and landscapes but ..read more