Thai private sector worries about new US administration trade barriers

13 Sept 12:17 Key points summarised by AI

Thai businesses are closely monitoring the US presidential election, fearing potential new trade barriers and tariffs from a new administration could significantly impact key Thai exports.
Industry leaders urge the Thai government and private sector to implement precautionary measures to mitigate risks from possible US import tariffs on goods like hard disk drives and car tires.
Thailand faces a challenging global economic landscape with low GDP growth forecasts (IMF: 3.2% for 2024-2025) due to increased trade barriers, inflation, and geopolitical conflicts.
While Thailand projects 2.6-2.8% growth for 2024, driven by electronic exports and spending, it must address negative economic impacts from recent flooding and accelerate infrastructure investment.
The private sector advocates for policies such as extended land leases (up to 99 years) to attract foreign investment, and government support for tackling household debt and assisting SMEs.

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.