Thailand

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Thai Agricultural and Industrial Exports to FTA Partner Markets Show Continuous Growth

News

The Department of International Trade Negotiations has revealed that Thai agricultural and processed agricultural product exports to Free Trade Agreement (FTA) partner markets have continued to flourish throughout the first eight months of 2023. This remarkable growth extends to a variety of products, including fruits, rice, chicken, shrimp, sugar, canned seafood, ice cream, as well …

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Thailand Welcomes Over 20 Million Tourists, Attributing Surge to “Free Visa” Attraction for Chinese Visitors

News

Thailand has celebrated a milestone in its tourism industry as the number of tourists entering the country since January 1, 2023, has exceeded 20 million. The “free visa” initiative, particularly appealing to Chinese travelers, has played a pivotal role in driving this impressive influx of visitors. The Ministry of Tourism and Sports, through its Economic, …

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Thailand’s Business Confidence Rebounds to 50 Mark, Fueled by Manufacturing Sector

News

The latest figures from the Bank of Thailand (BoT) reveal a positive turn in the country’s business confidence as the Business Confidence Index for September surged to 50.4, marking an improvement from August’s reading of 48.9. This notable upswing can be largely attributed to the resurgence in the manufacturing sector, driven by gains in production, …

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Thai Government Expects Visa-Free Policy for Chinese Nationals to Boost Economy by 140 Billion Baht

News

In a significant move aimed at bolstering tourism and the economy, the Thai government has expressed strong confidence in the success of its temporary visa-free policy for Chinese nationals. Announced on Sunday, October 1, through the official Facebook page “Thai Khu Fah,” the policy grants free temporary visa rights to Chinese citizens, with expectations that …

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Hutchison Ports Thailand Advocates for Sustainable Maritime Transport through Waste Reception Facilities

News

Hutchison Ports Thailand Company (HPT), a prominent port operator in Thailand, is taking significant strides towards fostering sustainability and environmental responsibility in the maritime transport industry. The company is advancing the concept of establishing waste reception facilities within its ports, with the aim of promoting a sustainable and eco-friendly maritime sector. During a lecture titled …

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Sluggish Car Sales in Thailand Attributed to Multiple Factors – Economic Pressure and Stringent Controls

News

The Center for Economic Analysis at Thanachart Military Bank (ttb analytics) has projected that Thailand’s domestic car sales for 2023 will reach 835,000 units, indicating a 1.6% contraction compared to the previous year. Despite the growth of the electric passenger car market to nearly 60,000 units, Thailand’s automotive industry is grappling with a multitude of …

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Thailand’s Industrial Production Index Shrinks in August, Reflecting Slow Recovery Amid Global Economic Challenges

News

The Office of Industrial Economics (OIE) has disclosed that Thailand’s Industrial Production Index (MPI) for August recorded a reading of 91.85, marking a notable decline of 7.53%. This contraction underscores the challenges facing the country’s industrial sector, which has struggled throughout the first eight months of 2023, registering an average contraction of 4.95% with an …

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MPC Unanimously Raises Interest Rates by 0.25%, Awaits Government Measures Following GDP Cut for 2023

News

The Monetary Policy Committee (MPC) recently announced its unanimous decision to increase the policy interest rate by 0.25% per annum, elevating it from 2.25% to 2.50% per annum with immediate effect. This move reflects the committee’s cautious stance in response to the revised economic growth forecast for Thailand in 2023, which has been lowered from …

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Depreciating Baht Boosts Gold Prices in Thailand, Predicts YLG

News

The Chief Executive Officer of YLG Bullion International Company Limited (YLG) has pointed out that the Thai baht is experiencing significant depreciation, propelling gold prices in Thailand to surge to new heights. This trend is attributed to regional currencies undergoing depreciation during this period, with the baht surpassing the 36 baht per US dollar mark. …

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