Monday’s news-June 17 -

Subscribe to Blog via Email

Email link – kenbrown@businessclassasia.com

Free event in Hua Hin to address major changes in Thai tax legislation

Business Class Asia is hosting a free event to discuss the most significant changes to Thai tax legislation in decades and their implications for onshore and offshore tax planning.

The event, titled “Income Tax & Estate Planning Briefing for Globally Mobile/Focused Thai Residents,” will be held on June 21 at 6pm at the Centara Grand Beach Resort & Villas Hua Hin. Continued …

Watch rare birth of twin elephant calves in Thailand

A 36-year-old elephant gave birth to twins at a zoo in central Thailand in a rare surprise for caretakers and the mother herself.

Caretakers only planned on Chamchuri giving birth to one calf on June 7 at the Ayutthaya Elephant Palace and Royal Kraal, about 50 miles north of Bangkok, according to BBC. As the team cleaned the boy calf and helped stand him on his knees, Chamchuri’s surprise arrived: a girl. Continued …

7th annual food festival opens in Ao Prachuap

The 7th Local Food and Traditional Sweets Festival officially kicked off Friday evening at the seaside road area of Ao Prachuap. Komgrit Charoenpattanasombat, deputy governor of Prachuap Khiri Khan Province, presided over the opening ceremony, marking the beginning of the 10-day event.

Kamon Kaewteth, mayor of Prachuap Khiri Khan city, highlighted the event’s objectives, emphasizing the importance of introducing both Thai and international tourists to the region’s renowned foods and traditional sweets. Continued …

Explosion strikes annual rocket festival in Roi Et: 30 injured

Yesterday, a tragic incident marred the annual Rocket Festival at Ban Sang Bu Temple in Roi Et Province. The normally joyous event, which attracts numerous locals and visitors to Phon Sai Sawang subdistrict, Phon Thong District, ended in disaster when a rocket explosion caused significant injuries among the attendees.

This year, participants eagerly gathered to witness the launch of 370,000 rockets — a tradition aimed at celebrating local culture and bringing luck to the community. However, as the event proceeded, one of the rockets malfunctioned as it was being launched, resulting in a powerful explosion at the rocket launcher base. Continued …

PM Tests Positive for Covid-19

Prime Minister Srettha Thavisin has tested positive for Covid-19 and is advised to rest until Wednesday. The prime minister’s office confirmed the diagnosis late last night, revealing that Srettha has been feeling unwell since Friday.

According to Chai Watcharong, the spokesperson for the prime minister’s office, Srettha consulted a doctor who confirmed the Covid-19 infection. The physician has recommended he rest and isolate to prevent further spread of the virus. Continued …

New highly-transmissible Covid strain will elude vaccines: expert

The KP.2 strain of Covid-19 will become dominant in Thailand, according to a renowned virologist. It will be more transmissible and vaccines will be hard-pressed to keep up with its mutations, but its symptoms will not be more severe than those of previous strains of the virus.

Prof. Yong Poovorawan at the Center of Excellence in Clinical Virology at Chulalongkorn University posted online Saturday that the KP.2 strain was spreading and replacing JN.1 as the dominant strain in the country. JN.1 has been common in the country since late last year, he wrote. Continued …

Thailand Poised to Make History with Marriage Equality Bill

Thailand is on the verge of a milestone with the impending approval of the Marriage Equality Bill. This legislation, which is set for its final round of Senate voting later this month, has the potential to make Thailand the first country in Southeast Asia to recognize and uphold marriage equality.

Prime Minister Srettha Thavisin has long championed the cause, promising that Thailand would become a safe haven for the LGBTQ+ community. The bill seeks to amend the existing marriage laws, ensuring that same-sex couples enjoy the same rights and protections as heterosexual couples. Continued …

Missing contraband diesel vessels found near Malaysian waters

Three vessels carrying 330,000 liters of contraband diesel that vanished from a police pier in Chon Buri have been located near Malaysian waters, police confirmed.

Police Major Gen. Charoonkiat Pankaew, deputy commissioner of the Central Investigation Bureau, announced that the three boats disappeared from the marine police pier in Sattahip district of Chon Buri last week. After traveling through Cambodian and Vietnamese waters, they were found off southern Thailand. Continued …

Professor warns against reclassifying cannabis as illegal narcotic

Professor Panthep Puapongphan, dean of the College of Oriental Medicine at Rangsit University, voiced concerns regarding efforts to reclassify cannabis as an illegal narcotic. He says that such a move could worsen drug-related issues rather than improve them.

Panthep stressed that cannabis has played a significant role in helping individuals quit more harmful substances like methamphetamine and heroin. He argued that data comparing post-decriminalization periods with the lockdown year of 2021 is misleading, as fluctuations in psychiatric cases were more likely due to the Covid-19 pandemic rather than cannabis use. Continued …

Russian Man Arrested in Phuket Over 50 Stolen Coral Rocks – Continued …
Filipina Woman Overstays in Thailand for Over 4 Years – Continued …

Economist warns of further industry closures

More businesses in the automobile, electrical appliances, and electronics industries are under threat of closure because they are not moving quickly enough to adapt to digital technology and global trends, an economic expert from the University of the Thai Chamber of Commerce said.

His remarks are consistent with those of the Federation of Thai Industries (FTI), which warned that more factories in Thailand could close this year due to the upcoming implementation of a standard 400 baht minimum wage nationwide by Oct. 1. Continued …

Even with digital wallet, S&P affirms stable outlook

S&P Global Ratings says it plans to maintain its stable outlook for Thailand’s sovereign ratings even if the country implements the digital wallet scheme. The rating agency advised the Thai government to balance social spending with fiscal prudence.

The proposed digital wallet handout will benefit certain segments of the population and increase domestic consumption, Kim Eng Tan, managing director of sovereign ratings for Asia-Pacific at S&P Global Ratings, said at a seminar in Bangkok. Continued …

BOI Approves Investment Worth USD1.54 billion in Biochemicals, Data Centers, Hospital

The Thailand Board of Investment (BOI) has approved the investment-promotion applications of eight large projects worth a combined 56.95 billion baht (USD1.54 billion), including a bio-ethylene plant project by the local joint venture of Brazil’s Braskem, as well as data centers, power plants, and a major new hospital.

The meeting, which was chaired by Pichai Chunhavajira, deputy prime minister, minister of finance, and chairman of the BOI, also approved the introduction of a new investment promotion category covering service centers for the repair, repack, and reuse of used electric vehicle (EV) batteries and energy storage systems, that further complements the BOI’s comprehensive EV supply chain policy and incentives. Continued …

Addressing the employee skills gap

Recent decisions by two Japanese automakers to close their plants in Thailand affect the country’s standing as a leading global car producer, once dubbed the “Detroit of Asia”.

The announcements by Subaru and Suzuki Motor Corp. to cease operations at their car-assembly facilities by the end of 2024 and 2025, respectively, follows the closure of 1,600-1,700 factories in several industries, as reported by the Federation of Thai Industries (FTI). Continued …

Is MGM China thinking of investing in Thailand casinos?

Pansy Ho, the chairperson and executive director of MGM China Holdings, has held a meeting with the governor of the Tourism Authority of Thailand (TAT), Thapanee Kiatphaibool, and expressed interest in investing in the kingdom, according to a media report.

The report said TAT would hold further talks with the Macao casino operator over “possible collaboration” in the development of “new tourism-related products.” Continued …

Is Thailand facing an over-tourism crisis ?

Thailand is indeed experiencing an over-tourism crisis. The situation has escalated to the point where popular destinations like Maya Bay and cities such as Pattaya and Phuket are facing environmental degradation and infrastructure strain due to the overwhelming number of visitors.

The concept of “over-tourism” has resurfaced with the global resurgence in tourism. But already back in 2019, concerns about excessive tourism growth were so pronounced that the UN World Tourism Organization advocated for responsible management of such growth to maximize the opportunities it can create for communities worldwide. Continued …

Food tourism high on Thailand’s soft power list

From jasmine rice to Pad Thai noodles and spicy tom yum soups, Thailand is renowned for its robust agricultural and food products, making it a major exporter worldwide.

The Tourism Authority of Thailand (TAT) estimates 20%-25% of tourism expenditures are for food, particularly Thai dishes, during trips to the nation. Continued …

Highlights from Bangkok’s Thailand Wellness Asia Summit 2024

Thailand, with its successful hosting of the third annual Thailand Wellness Asia Summit (TWAS) event in 2024, is paving the way for Asia to become the wellness hub of the world.

The event kicked off with a grand opening ceremony at the Intercontinental Hotel, Bangkok. Held June 11-14, the event is one of Southeast Asia’s largest gatherings on wellness, witnessing participation from over 30 countries with over 1,000 attendees. Continued …

Germany’s FTI Losses Exceed 111M Baht in Thailand

The collapse of the third-largest tour operator in Europe, FTI, has started to affect thousands of tourists and hundreds of hotels in Thailand, leading to losses of 111 million baht.

Germany-based FTI Group filed for insolvency in the Munich regional court earlier this month, affecting a number of holidaymakers in Thailand this week as they are scheduled to check out. Continued …

Lesser-Known Thai City Destined To Become Digital Nomad Hotspot

Digital nomads are always on the hunt for the next best place to call home – even if that’s only for 30 days, a few months, or multiple years. There may be no better dream destination than Thailand. This fascinating country is cheap, exotic, cultural, and simply unparalleled to any other nation.

We all know Bangkok is, at the very least, one of the better gateways to dip your toes into digital nomadism, but there is so much more than meets the eye to Thailand than this bustling concrete jungle. Continued …

Chumphon Tour Bus Crash Leaves Two Dead, Many Injured

A tour bus and a truck carrying rubber wood logs collided yesterday, resulting in two fatalities and multiple injuries. The collision took place in Chumphon province.

Police Lt. Col. Somboon Phumkajorn of Tha Sae Police Station reported the incident happened at 10.30 pm. The tour bus, operated by Sombat Tour traveling from Bangkok to Ranong, collided with a Hino truck at a u-turn on Phetkasem Road, near the Khao Phang Highway Police Station in Tha Kham subdistrict, Tha Sae district, Chumphon province. Continued …

Russian Tourist Drowns Ignoring Warnings at Surin Beach, Phuket

A Russian man drowned yesterday after swimming in rough seas at Surin Beach in Phuket, defying a red flag warning signaling dangerous conditions.

The incident unfolded around 3 pm when 64-year-old Aleksei Apostolov entered the water alone, despite visible warnings of strong waves. Thai lifeguards, keeping a vigilant eye on the situation, acted promptly, pulling him from the turbulent waters and immediately initiating CPR. Continued …

154 Tons of Water Delivered to Drought-Hit Koh Larn

The Royal Thai Navy (RTN) vessel HTMS Ravi delivered approximately 154 tons (approximately 154,000 liters) of fresh water to residents of Koh Larn in Pattaya, addressing an ongoing drought.

This significant delivery occurred yesterday, prompted by Koh Larn’s struggle with water shortages exacerbated by dry weather and a surge in tourist numbers. Continued …

Songkhla touts its MICE tourism potential

Songkhla’s administration is partnering up with businesses in the tourism sector to promote the province as a MICE (meetings, incentives, conferences and exhibitions) destination to Malaysians.

The chairman of hotel operators’ association in Songkhla’s Hat Yai district, Sitthipong Sitthipatprapa, said the province is well-equipped to handle MICE events in addition to conventional tourism, as it has a wide range of venues that could cater to such activities. Continued …

Chinese outbound travel recovery lags due to costs, visa snags

A recovery in Chinese overseas travel from the Covid-19 pandemic is fading as rising costs and difficulties in securing visas cement a preference for local and short-haul destinations.

The delay in a revival to pre-Covid levels by China’s outbound travelers, the world’s top spenders on international tourism and airlines, is hitting travel-related companies, hotels and retailers globally. Continued …

These Common Money Practices Can Be Offensive In Thailand

In the United States, handling money is a very mundane, laissez-faire thing — there are no particular rules that delineate how you’re supposed to hold, give, or respect those precious dollar bills. When Americans travel abroad, they might bring along cultural practices that are second nature.

However, some of these seemingly innocuous actions can actually be deeply offensive in other cultures. If you’re headed for Thailand, a bucket list country where the U.S. dollar is strong, do beware. In the “Land of Smiles,” a country with a rich cultural heritage and deep-seated traditions, the way you treat the local currency — the Thai baht — can significantly impact how you are perceived. Continued …

Suggested destinations to visit during rainy season in Thailand

This year, Thailand’s rainy season officially started on May 20 and will conclude in mid-October. This is the perfect time to explore nature, as it is the season when forests become greener, the weather is cooler, flowers are fully blooming, and the waterfalls are full of water.

Here is a list of recommended destinations to visit if you’re traveling around Thailand during the rainy season: Continued …

#thailandeconomy #huahin #prachuapkhirikhan #thailandtourism #thailandtravel #thailandfdi #thailandinvestment #thailandexports #thailandretirement #thailandimmigration #thailandtransportation #thailandrealestate