Businesses and experts are hopeful about a revival in Thai economy after the year-long mourning period for late King Bhumibol Adulyadej ends on October 29.
Bangkok (VNA) – Businesses and experts are hopeful about a revivalin Thai economy after the year-long mourning period for late King BhumibolAdulyadej ends on October 29.
Consumer spending index is expected to get better in October. Statistics fromthe Bank of Thailand (BOT) showed that private consumption expanded at anaverage pace of 2.5 percent this year as compared with 3.5 percent in 2016.
Household spending is worth about half of the country’s 407 billion USD GDP, accordingto the World Bank.
Investors are taking bets on the upbeat economy outlook. Share price ofThailand’s 22 largest companies surged 12 percent in 2017 while the market’saverage share price went up 10 percent.
The Thai Chamber of Commerce also forecast strong growth of the nationaleconomy in the fourth quarter of the year after it reached 3.5 percent in theprevious quarter.
Earlier, the Ministry of Commerce announced that export revenue in September was21.8 billion USD, the highest in the past nine months and hiking 12.2 percentfrom the same month last year. From the outset of the year, total exportrevenue reached 170 billion USD, up 9.3 percent year on year.
Shipments and tourism have made significant contribution to promoting economicexpansion in the country. However, high and increasing household debt spurredby reduction in support policies is the main barrier to the growth.
Domestic credit for the private sector exceeds 140 percent of national GDP, thehighest among emerging economies in Southeast Asia.-VNA
Thailand’s Ministry of Commerce has assigned three agencies to draft a plan to expand and strengthen the supply chain of farm produce and find markets for agricultural products.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Tourists in Bangkok, Thailand (Source: VNA) 
