The Kingdom’s authorities aim to diversify the economy by expanding the role of domestic production in cutting-edge technologies and high-value services. The Thai Government is actively promoting a new economic development strategy aimed at the deep integration of Thai enterprises into global production and distribution chains. Deputy Prime Minister and Minister of the Interior Anutin…
The Kingdom is modernising its airports, expanding international routes and attracting investment with the aim of becoming an aviation hub by 2029 The Thai government is focusing on developing regional airports, aiming to transform them into powerful economic gateways for the country and stimulate a new wave of tourism and investment. As part of this…
The Ministry of the Interior is investigating more than 100 companies on the island that are concealing billions in revenue through foreign control. Thailand’s Ministry of the Interior has launched a large-scale investigation into the financial activities of more than 100 companies in Phuket suspected of using schemes involving foreign nominee owners. It is estimated…
The Kingdom is encouraging foreign car manufacturers to set up factories and use locally sourced parts to develop its status as a regional hub by September. The Thai Ministry of Finance plans to introduce a package of tax incentives by September 2024, designed to encourage foreign car manufacturers to establish production facilities in the Kingdom…
The authorities are increasing subsidies for propane-butane, keeping the cost of fuel and goods down until the end of October at the expense of the fund’s reserves. Thailand’s Ministry of Energy has announced an increase in the subsidy for liquefied petroleum gas (LPG) to stabilise domestic gas prices. This decision, however, increases the financial burden…
The South-East Asian air transport market continues to change rapidly. In August, Thailand slipped to third place in the regional ranking by number of available seats on flights, holding this position for the second month running. This decline is due to a significant reduction in the number of flights, which allowed Vietnam to move into…
Residents’ financial habits and high debt levels are becoming the main reasons for housing loan rejections. In Thailand, mortgage loan denials have increased significantly. The main reasons for this decline are less about low incomes and more about borrowers’ financial habits and overall debt levels. According to the Government Housing Bank of Thailand (GH Bank),…
From mid-autumn, the aviation regulator will be able to inspect checked-in luggage to improve flight safety. From 16 October 2024, the Thai authorities will have the right to open air passengers’ checked-in luggage without their consent. This measure is being introduced to ensure flight safety. The Civil Aviation Authority of Thailand (CAAT) has emphasised that…
The government is preparing a flexible long-term savings mechanism for citizens facing an ageing society. The Thai Ministry of Finance plans to launch a new individual savings account program, known as the Thailand Individual Savings Account (TISA), by September 2026. This initiative aims to encourage savings among the population further, building on the successful experience…
The city authorities expect a billion baht in revenue, but the hotel industry fears high rates and damage to the region’s attractiveness. The Bangkok Metropolitan Administration (BMA) is considering introducing a three-per cent tourism tax on hotels and other accommodation establishments. The BMA estimates that this measure could generate approximately 1 billion THB (approximately USD…
