Thai economy needs urgent stimulus: official
Thailand’s economy is in a "critical situation" that requires urgent stimulus measures, Prommin Lertsuridej, chief of staff to the Prime Minister said on Monday.
He told reporters that figures show the economy is not in a good shape and the government is doing everything it can, including visa-free tourism, policies to address household debt that is at a ratio of 91% of the GDP and support for the critical agriculture sector.
Prommin Lertsuridej, chief of staff to the Thai Prime Minister. Photo courtesy of Reuters.
The government’s annual budget will be approved and may be used next month, he said.
Prime Minister Srettha Thavisin’s government is stepping up efforts to recover the economy as exports weakened and witnessed slower recovery than other partners after the Covid-19 pandemic.
The Thai economy unexpectedly contracted in the fourth quarter of 2023, and policymakers have downgraded the growth outlook for this year, adding to pressure on the central bank to give in to the prime minister’s near-daily demands for an interest rate cut.
- Related News
- Read More
Sugary drinks subject to excise tax in Vietnam from 2027
Sugary drinks in Vietnam will be subject to an 8% excise tax starting in early 2027 and 10% from 2028, according to the adjusted Excise Tax Law, passed by the parliament on Saturday.
Economy - Sat, June 14, 2025 | 4:56 pm GMT+7
Ericsson should focus on 6G research, build database for AI in Vietnam: Prime Minister
Prime Minister Pham Minh Chinh has suggested Ericsson's cooperation with Vietnam should focus on piloting innovation initiatives, 6G research, and building a database for AI in the country.
Economy - Sat, June 14, 2025 | 3:59 pm GMT+7
Swedish giants H&M, Syre to scale up operations in Vietnam
H&M, a globally renowned fashion brand from Sweden, plans to expand its network of stores in Vietnam to over 20 in the time to come, said CFO Adam Karlsson.
Industries - Sat, June 14, 2025 | 2:16 pm GMT+7
Leading industrial park developer Becamex to gain from Binh Duong province’s merger into HCMC: broker
Becamex IDC Corp, a leading urban and industrial park developer based in Binh Duong, is expected to benefit from the province’s merger into Ho Chi Minh City, with many new development opportunities, according to Vietcombank Securities (VCBS).
Companies - Sat, June 14, 2025 | 8:00 am GMT+7
Vietnam Airlines secures $1.5 bln funding from ING Bank for strategic expansion
Vietnam Airlines and ING Bank have signed an MoU for bilateral financial cooperation, securing capital funding of up to $1.5 billion.
Companies - Fri, June 13, 2025 | 10:56 pm GMT+7
Lawmakers scrutinize dual-city international financial center plan
Discussing a draft resolution on establishing an international financial center in Vietnam, some parliament members have proposed careful consideration of a dual-city model based on regional development strategies and investment efficiency.
Finance - Fri, June 13, 2025 | 10:49 pm GMT+7
Vietnam among world’s most food-self-sufficient nations: study
As concerns mount over the potential for disruptions to global trade, a new study published in the journal Nature Food has identified Vietnam as one of the few countries with a high level of food self-sufficiency, capable of withstanding major interruptions to food imports and exports worldwide.
Southeast Asia - Fri, June 13, 2025 | 10:41 pm GMT+7
Bad debts at Vietnamese commercial banks remain a concern
While the most challenging period for bad debts in Vietnam appears to have passed, potentially irrecoverable debts have reached a record high, accounting for 1.25% of total outstanding customer loans, or more than VND176 trillion ($6.74 billion), according to a new report by research firm Vietnam Report JSC.
Banking - Fri, June 13, 2025 | 7:58 pm GMT+7
Vietnam's galvanized steel major Ton Dong A to focus on domestic sales amid export market woes
Ton Dong A, a leading galvanized steel manufacturer in Vietnam, will focus more on the domestic market due to export difficulties, raising the ratio of domestic sales to 75%.
Companies - Fri, June 13, 2025 | 4:56 pm GMT+7
Vietnam's leading construction materials maker Viglacera appoints new chairman
The board of directors of Viglacera, Vietnam's leading construction materials maker, has appointed Tran Manh Huu as new chairman, succeeding Nguyen Van Tuan.
Companies - Fri, June 13, 2025 | 3:08 pm GMT+7
Vietnam urges Exxon Mobil to accelerate long-delayed Blue Whale gas field project
Vietnam expects the U.S.'s Exxon Mobil to speed up the long-delayed Blue Whale gas field project in line with the contract.
Energy - Fri, June 13, 2025 | 2:06 pm GMT+7
Prime Minister invites Swedish firms to invest in Vietnam's technology infrastructure, renewable energy
Prime Minister Pham Minh Chinh says he hopes Swedish companies will continue to expand their investment in Vietnam's information technology infrastructure, especially in remote areas.
Economy - Fri, June 13, 2025 | 11:28 am GMT+7
Singapore’s Keppel earns $76 mln from partial sale of property complex in southern Vietnam
Singapore-based Keppel Corporation brought in SGD98 million ($76.54 million) from selling a 22.6% stake in a property complex in Vietnam’s southern metropolis of Ho Chi Minh City.
Real Estate - Fri, June 13, 2025 | 8:28 am GMT+7
Thailand tightens e-commerce rules
Thailand is preparing to increase oversight of digital marketplaces, adding rules for certain types of platforms to strengthen consumer protection and ensure responsible e-commerce, Bangkok Post quoted the Electronic Transactions Development Agency (ETDA) as saying.
Southeast Asia - Thu, June 12, 2025 | 10:56 pm GMT+7
Malaysia attracts nearly $21 bln investment in Q1
Malaysia has secured MYR89.8 billion (nearly $21 billion) in approved investments for Q1, a 3.7% year-on-year increase amid a challenging global economic backdrop, according to the Malaysian Investment Development Authority (MIDA).
Southeast Asia - Thu, June 12, 2025 | 10:53 pm GMT+7
Thailand targets faster EV growth
Thailand’s Board of Investment (BoI) is stepping up efforts to promote the electric vehicle (EV) industry by offering more investment incentive packages aimed at supporting the emerging sector and creating additional EV-related jobs.
Southeast Asia - Thu, June 12, 2025 | 10:46 pm GMT+7
