Thailand’s retail growth projected to hit 6-8% in 2023
Thailand's retail industry, thanks to the recovery of tourism, is forecast to grow by 6-8% in 2023, double the rate of the country's GDP, said the Thai Retailers Association (TRA).
Customers buy fruit at Or Tor Kor market, Thailand. (Source: VNA)
Bangkok (VNA) - Thailand's retail industry, thanks to the recovery of tourism, is forecastto grow by 6-8% in 2023, double the rate of the country's GDP, said the Thai Retailers Association (TRA).
According to Yol Phokasub, president of TRA, the sector has been improving,particularly in popular tourist destinations such as Phuket, Samui and Pattaya.
Tourism constitutes an important portion of the Thaieconomy, in addition to exports, said Yol.
The nation’s retail industry grew by 2-3 times the GDP rateover the past years, but was hit hard during the COVID-19 outbreaks when manycountries closed their borders.
To stimulate the expansion of the market and overalleconomic growth, TRA is calling on the government to enact more measures andincentives for the retail and service sectors.
The government is also being urged to promote Phuket as atax-free province to beef up foreign tourists’ spending./.
Thai Prime Minister Prayut Chan-o-cha and visiting Malaysian Prime Minister Anwar Ibrahim agreed to promote bilateral ties to boost their economy and cooperate closely in new areas during their meeting in Bangkok on February 9.
Thai Minister of Digital Economy and Society Chaiwut Thanakhamanusorn has proposed an ASEAN committee be set up to focus on fraud prevention from call centre gangs.
Thailand's consumer confidence index (CCI) rose to the highest level in 26 months in January, driven by the economic recovery, a surge in foreign tourist arrivals and the easing of the COVID-19 pandemic, according to the University of the Thai Chamber of Commerce (UTCC).
Thailand will seek to boost trade with China when it hosts the ASEAN-China Free Trade Agreement (ACFTA) Joint Committee in April, according to the Thai Ministry of Commerce’s Department of Trade Negotiations.
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.
Customers buy fruit at Or Tor Kor market, Thailand. (Source: VNA) 
