Thursday’s news-June 27 -

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Navigating new foreign income rules

The Revenue Department is studying the feasibility of amending the Revenue Code to align with the principle of worldwide income.

The proposed amendment may require individuals who reside in Thailand for at least 180 days, whether continuously or not, to pay taxes on income earned abroad, even if the income is not brought into the country. Continued …

Heavy rain and flash flood warnings issued across Thailand

The Thai Meteorological Department (TMD) has issued a warning for heavy rain across all regions of Thailand, cautioning residents to beware of flash floods and overflowing rivers. The Andaman Sea and the Gulf of Thailand are expected to see high waves.

The forecast for the next 24 hours indicates that a monsoon trough will pass through the northern and upper northeastern regions. Meanwhile, the relatively strong southwest monsoon covering the Andaman Sea, the southern region, and the Gulf of Thailand is beginning to weaken. Continued …

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Top 10 international schools in Thailand

Thanks to its large global population, Thailand is home to a significant number of international schools. These schools offer a range of world-class curricula, such as the International Baccalaureate (IB), British, American, and Singapore curriculum, which attracts both expatriate families and local residents looking for top-tier education for their children.

However, the abundance of options means choosing the right school can be overwhelming. So, if you’re leaning toward an international school in Thailand, we’ve compiled a list of the top 10 schools to simplify your decision-making process. Continued …

Thailand reduces school hours in major curriculum overhaul

Thailand’s Ministry of Education has announced an ambitious overhaul of the national curriculum, aiming to reduce school hours and incorporate more practical and tech-based learning.

The Office of the Basic Education Commission (OBEC) is leading this initiative. Thanu Wongjinda, OBEC secretary-general, disclosed that the plan necessitates a panel’s establishment to review the curriculum, last updated in 2008. This step aims to modernize the educational framework to meet global standards. Continued …

Strong Thai Public Support For Cannabis Reclassification

Public Health Minister Somsak Thepsuthin has opened discussions about the potential reclassification of cannabis as a type 5 narcotic, following a public consultation period from June 11-25.

This consultation saw around 100,000 participants, with over 80% reportedly supporting reclassification, according to Thepsuthin. During a press conference yesterday, Thepsuthin addressed widespread public and industry concerns. Continued …

Thailand destroys over 20 tons of narcotics on anti-drug day

Thailand burned more than 20 tons of confiscated narcotic drugs worth 6.45 billion baht (about US$175 million) on Wednesday to mark the International Day Against Drug Abuse and Illicit Trafficking, authorities said.

The destroyed illicit drugs, seized from 41,800 cases and primarily consisting of methamphetamine, were part of the country’s comprehensive strategy, encompassing prevention, suppression and rehabilitation measures, said Public Health Minister Somsak Thepsutin. Continued …

Bank of Thailand Forecasts Modest Growth for Remainder of 2024

The Bank of Thailand anticipates slower economic growth in the upcoming third and fourth quarters, attributing this to a high base effect. According to Piti Disyatat, secretary of the central bank’s Monetary Policy Committee (MPC), second-quarter GDP is expected to grow by 1% from the previous quarter, a decline from the 1.5% growth observed in the first quarter. These projections were shared during a monetary policy forum held yesterday.

The central bank now estimates the growth rate for the third and fourth quarters to be between 0.6% and 0.7% per quarter due to the high base effect. Despite this deceleration, economic activities are predicted to increase, driven by improved domestic demand, a recovery in tourism, and accelerated government budget disbursement. Continued …

Factories closing as cheap imports flood Thailand

Many local factories producing electronics, steel and plastics have shuttered this year as purchase orders shrink and cheap imports flood the Thai market, says the Industry Ministry. The shutdowns were ranked based on the investment value of the factories.

“The closed electronic parts and printed circuit board factories had the highest investment value of 2.29 billion baht,” said Industry Minister Pimphattra Wichaikul. Continued …

Digital Wallet Scheme Delayed Over Detail Shortage

The House Budget Scrutiny Committee has decided to place the 152.7-billion-baht budget for the government’s digital wallet scheme on hold, citing insufficient details about the project.

Takorn Tantasith, a Thai Sang Thai party-list MP and a member of the committee, revealed that the committee demanded comprehensive details from the Office of the Permanent Secretary of Finance before they could approve the funding. Continued …

Ministry vows more stimulus on the way

Deputy Finance Minister Julapun Amornvivat says other stimulus measures will be introduced this year in addition to the digital wallet handout. He said the government is considering other measures on top of the digital wallet scheme, which is scheduled to start in the fourth quarter.

More information about the new measures may be presented at the next economic cabinet meeting scheduled for next week, said Julapun. Continued …

Phenix Project Launched to Boost Global Food Wholesale Hub Ambitions

Prime Minister Srettha Thavisin has officially launched the Phenix project, an ambitious initiative designed to establish Thailand as a global food wholesale hub.

The project, supported by Thailand’s leading real estate group, Asset World Corp. (AWC), aims to attract global food industry professionals and promote Thai cuisine on the international stage. Continued …

Food delivery players lose 20.7 billion baht

Thailand’s online food delivery sector is becoming more sustainable with fewer players, according to an industry observer. Over the past three years, the industry’s major players have racked up combined losses of 20.7 billion baht from 110 billion baht in revenue.

Pawoot Pongvitayapanu, an e-commerce founder, said the industry would be more stable and sustainable as existing players find new growth engines, such as advertising enterprises. Continued …

Investment in Phuket real estate continues to surge

Conflicts and geopolitical issues in several parts of the world are prompting many people from the Western Hemisphere to turn their attention to the East, both in terms of investment and purchasing homes.

Phuket, long a coveted destination for foreigners seeking a second home, has seen a continuous increase in demand. The sales of real estate and resorts in Phuket have doubled, from 1,500 units sold in 2022 to over 3,000 units in 2023, and the growth shows no signs of stopping. Continued …

Google inks cloud partnership in Thailand with Gulf

Google Asia Pacifi and Gulf Energy Development have teamed up to conduct cloud operations in Thailand in a strategic partnership that could open doors to future cooperation in cybersecurity and artificial intelligence (AI).

Gulf on Tuesday notified the Stock Exchange of Thailand that its wholly owned subsidiary Gulf Edge Co. had entered into a partnership with Google to operate Google Distributed Cloud (GDC) air-gapped configuration as a managed GDC provider (MGP) for organizations in Thailand. Continued …

Motorbike sales fall as banks cut back on lending

Thailand’s motorcycle manufacturing and sales are declining this year as the economy falters, attributed to high household debt and weak consumer purchasing power, says the Federation of Thai Industries (FTI).

People are cautious about spending because of uncertainty about the sluggish economy, while several companies recently decided to lay off a total of 10,000 workers to control operating costs, said Surapong Paisitpatanapong, vice chairman of the FTI and spokesman for the federation’s Automotive Industry Club. Continued …

Thailand Targets 2.4 Million Indian Tourists with Visa-Free Policy

The Tourism Authority of Thailand (TAT) has revised its target for Indian tourist arrivals from 2.3 to 2.4 million this year, spurred by the recently introduced visa-free policy for Indian nationals. This visa waiver program, which permits 60-day visa-free stays, applies to citizens of 93 countries and will remain effective until November 2024.

TAT Gov. Thapanee Kiatphaibool stated that Indian arrivals are anticipated to exceed 1 million by the end of this month, almost reaching half of the initial target of 2.08 million for the year. The revised target aims to contribute to the government’s goal of attracting 36.7 million tourists and generating 3.5 trillion baht in revenue in 2023. Continued …

Samui Task Force Cracks Down on 52 Foreign Villas with Hidden Rentals

The task force addressing state land encroachment on Samui Island is preparing to prosecute the owners of 52 villas for violating three laws: the Hotel Act, the Environmental Act, and the Building Control Act.

The Internal Security Operations Command Region 4 received complaints about construction on steep terrain in Koh Samui, Surat Thani Province, violating environmental and building control laws. Some properties were also operating as unlicensed hotels. Continued …

Lalisa showcases Bangkok’s Chinatown in latest music video

Thailand’s very own K-pop princess, Lalisa “Lisa” Manoban of the Blackpink girl group, took the internet by storm on Wednesday when she released a 10-second teaser of her latest song, “Rockstar”.

The teaser of the song, scheduled for official release on Friday, showcases several spots in Bangkok’s Chinatown in the evening, including Yaowarat Road, the New World Banglamphu shopping mall and a tattoo parlor. Continued and video …

Ubon Ratchathani stages Candle Festival

To mark Khao Phansa Day, the beginning of Buddhist Lent, the northeastern town of Ubon Ratchathani invites Buddhist pilgrims and tourists to take part in its annual Candle Festival featuring unique religious rituals and cultural activities throughout July.

From July 1-18, visitors are welcome to observe and learn how to carve and decorate wax candles using traditional techniques, as skilful artisans gather in their communities. There will be artworks depicting Lord Buddha’s life, mythical Himmapan creatures and the Ramakien epic. Continued …

Myanmar’s middle class shrinks by 50% as 42 million face poverty

Myanmar’s middle class has shrunk by 50% over the past three years, while 42 million people are now facing poverty and hardship, according to a report released by the United Nations Development Program (UNDP) on June 24. Continued …

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