Thailand's tourism hard hit by COVID-19 (Source: VNA)
Bangkok (VNA) – The Thai economy is forecast to experience a U-shapedeconomic recovery and a return to pre-pandemic growth levels in two years.
Yunyong Thaicharoen, chief economist of the SiamCommercial Bank's Economic Intelligence Centre (EIC), said that the country’s GDPgrowth will show pre-coronavirus levels by early 2022.
The worst contraction is expected to be seen this quarter at12.1 percent, before narrowing to 9.2 percent in the third quarter and 6.7percent in the fourth, he said.
The EIC lowered its economic growth forecast for 2020 to a7.3 percent contraction from a 5.6 percent fall predicted earlier, assumingthat the number of foreign tourist arrivals will plunge 75.3 percent from lastyear to 9.8 million.
Thailand’s conomic growth shrank 1.8 percent year-on-year inthe first quarter, the deepest contraction since the flood-hit fourth quarterof 2011./.
Thailand entered the third phase of its lockdown on June 1, with moderate-risk businesses allowed to be reopened, while the country observes a shortened curfew from 9pm to 3am.
The Thai Cabinet has decided to allow migrant workers from Cambodia, Laos and Myanmar to work in Thailand until July 31, 2020, to help reduce the potential spread of the coronavirus disease 2019, and to maintain a workforce as the situation gradually improves.
A team of Thai COVID-19 vaccine researchers on June 3 revealed that it had passed its testing of the mRNA vaccine prototype onto guinea pigs and now it is being tested on crab-eating macaques.
The Thai Finance Ministry has agreed with a plan to launch a major domestic tourism promotion next month by giving 2,000-3,000 THB vouchers to 4 million people and free trips to 1.2 million medical personnel.
On August 11, major RoK outlets, including Yonhap News Agency, KBS, The Korea Herald, and The Korea Times, provided prominent coverage of the talks held the same day between General Secretary Lam and President Lee Jae Myung, during which both sides agreed to strengthen cooperation in economy, security, technology, and culture.
The Singaporean government needs to enable people, workers and businesses to make full use of these tools, and enhance their competitive advantage. It “will walk this journey” with Singaporeans as it has done for the past six decades, said Prime Minister Lawrence Wong.
The meeting provided an opportunity to reaffirm both ASEAN member states' and partners’ commitment to strengthening cooperation and narrowing development gaps.
Thailand emits roughly 350 million tonnes of carbon dioxide equivalent annually, with the energy and industrial sectors accounting for more than 75% of this amount. Though this volume represents just 1% of global emissions, the Thai Government is eager to achieve carbon neutrality, a balance between carbon dioxide emissions and absorption, by 2050.
The Malaysian government is undertaking a structured assessment to examine the role of nuclear power as a potential option for clean, stable, and competitive electricity within Malaysia’s future energy mix.
It aims to identify and honour digital technology initiatives, products, and solutions with practical applications; promote creativity in technology development; anticipate trends and development potential in digital technology; and recognise the role of digital technology in economic growth and enhancing quality of life for citizens in ASEAN countries.
Addressing the ceremony, Indonesian Ambassador Simon D.I. Soekamo, the rotating Chair of the ASEAN Committee in Cuba, highlighted the bloc's spirit of friendship and solidarity, and reaffirmed ASEAN's core values of peace, stability, and prosperity through cooperation and dialogue.
Vietnam’s pavilion notably displayed traditional crafts from the centuries-old lacquerware village of Ha Thai and Chu Dau ceramics. The atmosphere was further enriched by delegations wearing their countries’ traditional costumes, including the elegant ao dai and the graceful ao tu than of Vietnamese women.
The handover ceremony was held at the Malaysian Embassy headquarters in Mexico City on August 8, with the presence of heads of diplomatic missions from ASEAN member states in Mexico.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
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.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand's tourism hard hit by COVID-19 (Source: VNA) 
