The Siam Commercial Bank (SCB)’s Economic Intelligence Centre (EIC) has readjusted up its projection for Thailand’s GDP growth at 3% this year and 3.7% in 2023, thanks to the recovery of tourism and private consumption.
Bangkok (VNA) - The Siam Commercial Bank (SCB)’s Economic Intelligence Centre (EIC) has readjusted up its projection for Thailand’s GDP growth at 3% this year and 3.7% in 2023, thanks to the recovery of tourism and private consumption.
Somprawin Manprasert, SCB’s First Executive Vice President, and Chief Economist, and Chief Strategy Officer of the EIC, said the adjustment was made to reflect the revenue from the tourism industry and related sectors, and continuous growth in private consumption.
According to the EIC, Thailand is expected to serve 10.3 million international visitors this year, and 28.3 million foreign arrivals next year.
The EIC forecasts that the Thai economy will take another two years to recover at full speed, and the country’s Monetary Policy Committee will further raise the policy rate at increments of 0.25%.
The committee is expected to make these changes in September and November, making the policy rate reached 1.25% towards the end of this year. It also planned to readjust the policy rate three times in 2023 until the rate reaches 2%.
Thailand’s economy continues to face challenges from the global economic slowdown, which suppresses the country’s exports and investments. Uncertainties in Thailand’s politics may affect the confidence in the manufacturing and investment sectors, prompting the Thai government to continue to support vulnerable groups./.
Thailand plans to export 7.5 million tonnes of rice this year, up from a previous target of 7 million tonnes, thanks to increased output and a weak baht amid global food insecurity.
Thailand’s Client Confidence Index and Industrial Sentiment Index in August posted a record high in many months, showing positive signs in the country’s economic recovery.
Thailand’s Ministry of Transport has proposed a scheme to turn Thailand into a key logistics hub to cover land, air and maritime transport in the Association of Southeast Asian Nations (ASEAN).
Vietnamese Ambassador to Thailand Phan Chi Thanh paid a courtesy call to Governor of Bangkok Chadchart Sittipunt on September 15 to discuss promoting locality-to-locality cooperation.
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.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
(Photo: //thainews.prd.go.th/) 
