The Thai Chamber of Commerce (TCC) forecast Thailand’s gross domestic product (GDP) growth at 3.5 percent in 2019 if the new government takes office by September.
The Songkran festival from April 11 to 17 is said to generate 28 billion Thai baht (880.78 million USD) to the Thai economy. (Photo: VNA)
Bangkok (VNA) – The Thai Chamber of Commerce (TCC) forecastThailand’s gross domestic product (GDP) growth at 3.5 percent in 2019 if thenew government takes office by September.
Thanawat Phonwichai, Director of the TCC’s Economic and Business ForecastingCentre, said if the GDP growth does not reach 3.5 percent, it could be due topolitical unrest and the ongoing US-China trade war.
Meanwhile, the Kasikorn Research Centre estimated that increased travel by bothThai and foreign tourists during the Songkran festival from April 11 to 17 willgenerate 28 billion Thai baht (880.78 million USD) in revenue for the tourismand related sectors, up 2.2 percent year on year.
Of total estimated revenue, 12.2 billion baht is expected to come from Thaistravelling within the country and 15.8 billion from foreign tourists visitingthe country during the festival.
However, smog in the northern region is set to affect tourism, causing tourismincome to decline.
The research centre haspredicted that the number of tourists visiting Thailand throughout 2019 islikely to exceed 39 million.
The Ministry of Tourismand Sports reported that during the first two months of the year, the number offoreign tourists visiting Thailand grew 2.5 percent year on year, totalling7.29 million people.-VNA
More than 7,000 new businesses were registered Thailand in January, a strong indication of the country’s economic expansion, according to the Thai Department of Business Development (DBD).
Thailand's Ministry of Commerce has registered more than 100 products for Geographical Indication (GI), representingg over four billion baht in commercial value, following the Prime Minister’s policy to create value-added local products.
The Tourism Authority of Thailand (TAT) has forecast that the number of tourists during this year’s Songkran festival from April 12-16 will drop by 10 percent partly due to the northern haze problems.
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
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Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
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Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
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Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
The Songkran festival from April 11 to 17 is said to generate 28 billion Thai baht (880.78 million USD) to the Thai economy. (Photo: VNA) 
