The Thai government is preparing to introduce a fresh economic stimulus package after the second largest economy in Southeast Asia recorded a five-year low in growth last year and faces a possible contraction in the first quarter of this year.
Tourists at Suvarnabhumi Airport in Bangkok, Thailand (Photo: AFP/VNA)
Bangkok (VNA) - The Thai government is preparing to introduce afresh economic stimulus package after the second largest economy in SoutheastAsia recorded a five-year low in growth last year and faces a possiblecontraction in the first quarter of this year.
Finance Minister Uttama Savanayana, on a trade delegation to Japan, said theministry is preparing a new round of economic stimulus covering tourism,consumption and investment to be proposed for the cabinet's approval by themiddle of March for implementation in April, the Bangkok Post reported.
The tourism sector employs millions and has been ravaged by the outbreak of the acute respiratory disease caused by the novel coronavirus (COVID-19), he said.
Tourism spending needs to continue, particularly through the Taste, Shop, Spendscheme, to entice people to travel more in Thailand, he said, adding the fourth phase of the Taste, Shop, Spend schemeneeds to be potent enough to lure consumers to spend more while travelling. Similarly,investment stimulus measures need to be meaningful enough to draw investment.
State investment and 2020 budget disbursement need to be accelerated to helpboost the country's fragile economy, he added.
According to official statistics released on February 17, Thailand’s GDPgrowth slipped to a five-year low in the fourth quarter, attributable largelyto poor exports and slow government investments.
The economy grew 1.6 percent year on year in the fourth quarter, deceleratingfrom the revised 2.6 percent growth in the third quarter of 2019. For the wholeyear, the economy grew 2.4 percent, the slowest rate since 2014.
Given the negative factors, including the COVID-19 outbreak, the National Economic and Social Development Council (NESDC) cutforecasts for 2020 economic growth to 1.5-2.5 percent from 2.7-3.7 percent, andexport growth to 1.4 percent from 2.3 percent predicted in last November./.
Thailand’s private sector has lowered the country’s export forecast to a 1.8 percent contraction this year due to the slowing world economy, widespread domestic drought and the deadly virus outbreak.
The Thailand Board of Investment (BOI) on February 6 approved a number of measures to accelerate investment and support key sectors of the economy, as well as incentives to help strengthen the grassroots economy and tourism industry.
Thailand’s International Economic Policy Committee has held a meeting to consider the pros and cons of Thailand joining the Comprehensive and Progressive Agreement for a Trans-Pacific Partnership (CPTPP), as well as gathering public input.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Tourists at Suvarnabhumi Airport in Bangkok, Thailand (Photo: AFP/VNA) 
