Thailand to launch over $4.2 bln 'digital wallet' programme to bolster short-term development
The Thai government is expected to distribute THB145 billion ($4.28 billion) in cash under its digital wallet handout programme from late September to stimulate short-term development and support vulnerable groups.
During a budget discussion session in the Senate on Monday, Deputy Finance Minister Julapun Amornvivat said this is a key policy in the Pheu Thai Party's election platform, aiming to stimulate the economy by handing out THB 10,000 (about $295) in cryptocurrency to all Thais aged above 16 years old.
New Prime Minister Paetongtarn Shinawatra stated that the programme will continue despite the government change last month, with part of the support potentially provided in cash. A total of 32 million people have registered to participate through the government's "Thang Rat" app.
The "digital wallet" programme is seen as a cornerstone in Thailand's plan to revive its economy, which grew by only 2.3% in the second quarter of 2024. The earlier-than-expected implementation reflects the new government's determination to boost economic recovery.
- Read More
Thailand plans to upgrade southern piers
Thailand’s Transport Ministry has ordered the Marine Department to expedite its projects to improve maritime connectivity across the Andaman Sea provinces in an effort to boost economic activities in the region.
Southeast Asia - Fri, September 13, 2024 | 8:51 am GMT+7
Hoa Binh Group consolidates leading position in Vietnam’s MICE industry
Hoa Binh Group has established itself as a leader and pioneer in Vietnam's MICE (meetings, incentives, conferences, and exhibitions) industry.
Companies - Fri, September 13, 2024 | 8:34 am GMT+7
Reliable, resilient energy supply imperative to realize Vietnam’s semiconductor aspirations: US envoy
Resilient, reliable energy supply is critical for developing a much sought-after semiconductor ecosystem in Vietnam and enticing American investors, says U.S. ambassador to Vietnam Marc Knapper.
Industries - Fri, September 13, 2024 | 8:00 am GMT+7
115 people ‘missing’ in northern Vietnam found alive on mountain
Detecting signs of landslides, 115 people in Kho Vang village, Lao Cai province ran up a mountain at night to keep themselves safe.
Society - Thu, September 12, 2024 | 11:18 pm GMT+7
Insurance payout for typhoon Yagi casualties in Vietnam hits $400,000
Insurance companies in Vietnam had reported 15 insured casualties due to super typhoon Yagi and subsequent floods with an estimated payout of approximately VND9.72 billion ($400,000) as of Tuesday.
Finance - Thu, September 12, 2024 | 10:35 pm GMT+7
Trading value on Vietnam’s major bourse plunges
Trading value on the Ho Chi Minh Stock Exchange (HoSE) on Thursday hit VND10.47 trillion ($426 million), down 18% from the previous session and the lowest in September.
Finance - Thu, September 12, 2024 | 6:17 pm GMT+7
HCMC okays design for commercial center within $900 mln Lotte project
Ho Chi Minh City’s Department of Planning and Architecture has approved the design for a commercial center within South Korean conglomerate Lotte’s $900-million Thu Thiem Eco Smart City project.
Real Estate - Thu, September 12, 2024 | 6:09 pm GMT+7
Vietnam eases restrictions on offshore wind power project sales under latest draft law
Investors can sell their stakes in offshore wind power projects in Vietnam with lesser restrictions, under the latest draft of the amended Law on Electricity.
Energy - Thu, September 12, 2024 | 5:52 pm GMT+7
Vietnam consumer finance firms post earnings recovery in H1 following 2023 slowdown
Corporate earnings of consumer finance businesses in Vietnam in the first half of the year showed a significant recovery, following a slowdown last year.
Finance - Thu, September 12, 2024 | 5:26 pm GMT+7
Vietnam stock market indicates significant risks, volatility: SGI Capital
Vietnam’s stock market currently poses significant risks and high volatility with relatively few clear-cut investment opportunities, says fund management company SGI Capital.
Finance - Thu, September 12, 2024 | 3:49 pm GMT+7
Maybank provides green trade finance for Vietnam’s largest offshore wind farm
Malaysia-based Maybank has funded an EPC (engineering, procurement & construction) project to construct offshore wind power farms for the Ca Mau 1 Wind Power Project in southern Vietnam.
Banking - Thu, September 12, 2024 | 3:24 pm GMT+7
Hong Kong’s Pacific Textiles to close Vietnam plant for a month after typhoon Yagi damage
After super typhoon Yagi hit Vietnam last Saturday, Pacific Textiles has suspended production at its factory in the northern province of Hai Duong for at least one month.
Companies - Thu, September 12, 2024 | 3:16 pm GMT+7
Vietnam PM urges Mitsui to accelerate gas project, consider offshore wind energy generation
Prime Minister Pham Minh Chinh has asked Japanese conglomerate Mitsui & Co. to expedite implementation of the long-delayed Block B gas power project offshore Vietnam as the country strives to ensure energy security.
Energy - Thu, September 12, 2024 | 11:32 am GMT+7
Samsung factory in northern Vietnam flooded in super typhoon Yagi aftermath
A factory run by Samsung Industrial Vietnam Co. Ltd. in the northern Vietnam province of Bac Ninh to manufacture and assemble automotive parts has been flooded as super typhoon Yagi impacts linger.
Companies - Thu, September 12, 2024 | 10:58 am GMT+7
Thailand plans to apply global minimum tax
Thailand’s Revenue Department is planning to impose an additional tax of 15% on multinational corporations that are operating in the country.
Southeast Asia - Thu, September 12, 2024 | 9:16 am GMT+7
Price of banana in Thailand rising
The price of kluay hom thong banana or "golden bananas" in Thailand has doubled from about THB 15 ($0.44) per kilogramme to THB 30, with farmers rejoicing at growing demand.
Southeast Asia - Thu, September 12, 2024 | 9:12 am GMT+7