Sluggish business in Bangkok’s “New Chinatown”

13 Sept 11:00 Key points summarised by AI

Bangkok's "New Chinatown" (Pracharat Bamphen Road) faces sluggish trade and restaurant closures, primarily due to intense competition and a significant decline in Chinese tourist numbers post-COVID.
Economic slowdown in China, resulting in fewer arrivals, and local crackdowns on improperly registered businesses are key factors contributing to the downturn.
Despite a perceived lacklustre atmosphere, the district chief notes an increase in Chinese entrepreneurs applying for business licenses and anticipates higher tax collection, even as some 'grey businesses' have been shut down.

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.