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Thailand News

  • Foreign investment plummets in junta ruled Thailand

    THAILAND, 2016/06/20 Foreign investment in Thailand plummeted last year, official data showed, the new sign that the kingdom’s once-vibrant economy continues to falter under prolonged military policy. Total investment applied for by foreign companies between January and November 2015 plunged 78 % from a year before to 93.8 billion baht ($2.62 billion), according to figures from Thailand’s national-run Board of Investment (BoI) sent to AFP late Tuesday. The figures will do little to cheer junta leader Prayut Chan-O-Cha, who seized power in a May 2014 coup vowing to replace stability but who has struggled to kickstart the country’s lacklustre economy.
  • Global growth will be disappointing in 2016: IMF's Lagarde

    AFGHANISTAN, 2016/01/02 World economic increase will be disappointing next year and the outlook for the medium-term has as well deteriorated, the chief of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday. IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide. Added to that, increase in world trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in a lot of nations still has weaknesses and financial risks are rising in emerging markets, she said.
  • Infrastructure focus spells good news for Thai construction

    THAILAND, 2015/12/28 After a slowdown in infrastructure development in recent years, Thailand’s construction industry presently looks set to benefit from a major economic support programme aimed at boosting the country’s competitiveness. The government initiative, which will see additional than BT1.7trn ($47.7bn) worth of infrastructure projects implemented through to 2020, will put transport, logistics and ICT at the top of the schedule, with a focus on improving physical and digital connectivity. In late September the government announced plans to fast-track five major infrastructure projects – three mass rapid transit lines planned in Bangkok and two waste-to-energy power plants to be built in the Nonthaburi and Nakhon Ratchasima provinces – signalling a potential jumpstart for Thailand’s construction industry in early 2016. The projects, which have a combined budget of BT200.4bn ($5.6bn), will be structured as public-private partnerships, according to local media.
  • Rail projects to connect Thailand’s industrial zones to the region

    THAILAND, 2015/12/27 Despite some delays, Thailand is pushing ahead with a series of rail projects that will link its industrial hubs to China and replace historical routes to Laos and Vietnam. With international technical and financial backing, the projects are expected to boost regional interconnectivity and reduce logistics costs, inclunding bring millions of Chinese tourists to the country. Construction delays In mid-November Thailand’s parliament approved a draft cooperation framework for a Thai-Chinese railway project, which covers the construction of standard-gauge railways on two routes, totalling 867 km.
  • 'Long Live the King' to celebrate his 87th birthday at Siriraj Hospital in Bangkok

    THAILAND, 2015/12/02 Back in February 2005, Thaksin Shinawatra’s Thai Rak Thai was re-elected with a bumper majority. But as Thaksin consolidated ever additional power, his opponents became anxious. The Democrat Party worried that it would at no time again control the levers of government, as the outspoken telco billionaire entirely monopolised the political process. His influence on military and bureaucratic promotions hinted that he would not stop until all key positions were held by his trusted aides.   In the lead up to the 2006 coup Thaksin was targeted by a chorus of self-righteous outrage. But Thaksin must still have felt confident. A lot of had suggested that Thailand’s heavily politicised armed forces had ‘returned to the barracks’ for good. We presently know that such talk was premature. For almost a decade, Thai politics has been caught in a seemingly limitless spiral of push-and-shove between Thaksin’s supporters and those who backed the 2006 coup. But the deadlock has additional to do with the Thai palace than the politics of Thaksin’s democratic rise.
  • Allegations of Plot Against Thai Government Unfounded: Opposition

    THAILAND, 2015/11/27 Allegations by Thailand's prime minister that members of the opposition planned to attack senior officials are baseless and designed to deflect attention from a corruption investigation, one of the major opposition groups said on Friday. Accusations of graft involving a park built to honor Thailand's monarchy are threatening to damage an anti-graft drive by the ruling junta, which seized power last year vowing to clean up government and protect royal prestige. The graft accusations, leveled by some Thai media and opposition groups, have transfixed a country anxious over the declining health of King Bhumibol Adulyadej, 87.
  • APEC economies growth slows to 3.1 pct in Q2

    BRUNEI , 2015/11/18 Increase among the 21 Asia-Pacific Economic Cooperation (APEC) economies softened to 3.1 % in the second quarter of 2015, down from 3.2 % in the initial quarter and 3.4 % a year ago, according to an APEC economic analysis released on Tuesday. The statement said the increase slowdown reflected the prolonged weakness in world economic activity as the modest recovery in advanced economies was matched by a general slowdown in emerging market economies. The moderation in GDP levels could be attributed to declining investments and lacklustre exports, according to the statement. "Economies across the Asia-Pacific continue to grow but find themselves in a holding pattern of lower increase in the absence of high trade volumes," said Alan Bollard, Executive Director of the APEC Secretariat.
  • How Thailand could really boost its economy

    THAILAND, 2015/10/31 Thailand's history of military coups has made policymakers too focused on political stability rather than foreign investment , according to a panel of experts. At the CNBC Exchange during the 14th Asia Business Leaders Awards in Bangkok on Wednesday, issues like transparency remained major sticking points for investors hesitant to place their bets on Southeast Asia's second-major economy Foreign direct investment (FDI) in Thailand's economy remains weak due to structural weaknesses likes high labor costs, availability of labor supply, and a lax regulatory environment.
  • The AEC regime would integrate all ten country members of Southeast Asian politics and economy

    BRUNEI , 2015/09/30 Welcoming the commencement of regional integrated economy society of ASEAN Economic Community ( AEC) regime slated for later this year, an initiative to foster production capacity cooperation between ASEAN and China was sought to further expand economy and trade ties between the two economies. The thought to further explore the cooperation was highlighted in a high level forum discussing next relations of AEC and China in production capacity cooperation held here on Friday, attended by senior figures and stakeholders of the two economies.
  • China to deliver 500 new-energy buses to Thailand

    CHINA, 2015/09/30 Chinese bus maker BONLUCK will deliver 500 new energy buses to Thailand by the end of this year. The gas buses were ordered by a Bangkok bus company in a 50-million dollar transaction signed in 2014, said Li Han, vice general manager of CHTC BONLUCK BUS Co., Ltd. The buses are designed to carry a maximum of 100 passengers each, Li said.