News

The World Bank expects Thailand’s potential growth to be the lowest among Asean economies over the next 20 years because of the country’s ageing demographics and a slowdown in private investment.The potential growth of Thailand’s economy is expected to be around 3% for the next ...

Five industries experienced significant growth this year, while three others were suffering huge contraction, the Ministry of Commerce’s Department of Business Development said on Friday.Department director-general Oramon Sapthaweetham said that the five industries that saw the biggest expansion in the past year were:▪︎ Tourism (growing ...

Thai economic recovery faltered due to global headwinds as growth fell to 1.5 percent year-on-year in the third quarter of 2023, well below expectations according to the latest World Bank’s semi-annual Thailand Economic Monitor.Growth in 2023 was dampened by a contraction in goods exports as ...

The government has approved a mid-term financial plan for fiscal 2024-2029 with estimated average gross domestic product (GDP) growth at 5.3% annually, said a news source familiar with the matter on Thursday.The plan was approved at a meeting on Thursday at the Ministry of Finance ...

Thailand’s economy will continue to move forward with the global recovery momentum in the coming year, but it is still shaky when it comes to having a robust economy in the long term, according to an SCB Economic Intelligence Centre (EIC) report.EIC chief economist Somprawin ...

The Asian Development Bank (ADB) has lowered its economic forecast for Thailand in 2023 from 3.5% growth to 2.5%, citing export contraction, reduced government spending, and lower investment from both the public and private sectors.The ADB also revised down its forecast for the Thai economy ...

The Criminal Court yesterday ruled in favour of the marine scientist after hearing testimonies from him and his plaintiff, a pet food trading company, saying his remarks were made in good faith and he had no intention to defame the plaintiff, according to the lawyer ...

Prime Minister Srettha Thavisin outlined Thailand’s commitment to green energy in 2024, emphasising that sustainability was a top priority for the country.The premier said that Thailand ranks 43rd globally in the UN Sustainability Development Goals (SDG) Index, making the country No. 1 in ASEAN in ...

Thailand’s industrial readiness score is 2.8 out of 6, according to a new survey, while the ultimate goal is to accelerate the rate to 4 or higher.The first survey report on Thailand’s Industry 4.0 readiness in 2023 has been unveiled by The Sustainable Manufacturing Centre ...

Thailand has unveiled the focus of its four-year strategy to attract foreign direct investment to boost its faltering economy: clean energy and incentives to offset the new Global Minimum Tax.Prime Minister Srettha Thavisin has embarked on an international roadshow since coming to power in August, ...