Cheap and substandard imports hurting Thai industries - FTI CEO Poll

13 Sept 12:40 Key points summarised by AI

A recent FTI CEO Poll reveals that 65.8% of Thai industrialists report significant sales declines (up to 30%) due to cheap, substandard imports, particularly in sectors like electrical appliances, food, and textiles.
Industrialists express serious concerns about consumer safety from these low-quality products and urge the government to tighten controls, review VAT exemptions for online sales, and scrutinize Free Zone Warehouse terms.
Thai products face increasing difficulty competing in the ASEAN market, with 2023 exports dropping 7.12%, primarily due to escalating production costs from higher electricity, labor, interest rates, and logistics expenses.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.