Economy and commerce
Central bank turns to biometrics to battle online scams
The Bank of Thailand has joined the fight against online crimes by instructing financial institutions to step up their preventive measures, including a requirement for biometric verification for mobile banking transactions, its governor, Sethaput Suthiwartnarueput, said on Thursday.Bank customers who want to transfer more than ...
The Nation Reporter
Local project aims to raise community income in Thailand
Thailand’s Commerce Ministry has launched the Local project to increase income for low-income earners by identifying and supporting local products in three categories: bio-, circular and green (BCG), innovation and identity.The initiative aims to serve consumers’ shifting concerns about the environment and health, while increasing ...
Thailand’s exports down for fourth consecutive month
The value of exports, the main driver of Thailand’s growth, dipped for the fourth month in a row in January due to slowing global demand, according to the Ministry of Commerce.The ministry on March 2 cited data from the Thai Customs Department, saying that the ...
Thailand Targets $57 Billion Investment in Green, Tech Sectors
Thailand expects foreign and local companies to pump in about 2 trillion baht ($57 billion) into sectors such as electric vehicles, smart electronics and technologies to build a green and sustainable economy by 2030.The fresh investments may generate 625,000 new jobs and add 1.7 trillion ...
Household debt continues to increase, nears 15 trillion baht
Thailand’s household debt reached 14.9 trillion baht in the fourth quarter of last year, as bad debts doubled due to the Covid-19 crisis, according to the National Economic and Social Development Council (NESDC).Household debt increased by 3.9% in the fourth quarter, compared to 3.5% in ...
The Nation Reporter
Consumer products likely to cost more despite cut in diesel price
The move by the Oil Fuel Fund Office to approve a reduction in the retail price of diesel by 50 satang per litre from Wednesday is unlikely to deter consumer goods makers from hiking prices.President of the Thai Wholesale and Retail Trade Association, Somchai Pornratanacharoen, ...
The Nation Reporter
Thai Q4 GDP unexpectedly falls, 2023 outlook trimmed
Thailand’s economy unexpectedly contracted in the final quarter of 2022 as a rebound in the vital tourism sector was unable to offset falls in key sectors including exports and manufacturing.The planning agency responded by downgrading its outlook for this year.Keep reading ...
Economic growth slowed in tourism-reliant Thailand in Q4
Thailand’s economic growth slowed in the fourth quarter as reduced exports and factory activity, together with tightening monetary conditions, curbed private consumption, a Reuters poll of economists found.Growth in Southeast Asia’s second-largest economy was forecast at 3.5% year-on-year in the October-December period, down from 4.5% ...
Thai c.bank wants to see household debt below 80% of GDP
Thailand’s central bank said it wants to see household debt levels below 80% of gross domestic product (GDP) to help reduce economic and financial risks, an official said on Tuesday.But measures introduced so far and a recovery in the economy might not be enough to ...
Thailand’s new strategies to attract foreign investors unveiled
The Thai Board of Investment (BoI) on February 14 unveiled its strategies to attract foreign investors over the next three to five years.BoI Secretary-General Narit Therdsteerasukdi said the board’s strategies are in line with the country’s long-term socio-economic development plans and they support manufacturing and ...
