Finance ministry to raise Bt500bn to cushion impacts of US tariffs

13 Sept 13:29 Key points summarised by AI

Thailand's Finance Ministry plans to establish a Bt500 billion standby fund to mitigate the adverse economic impacts on business and agricultural sectors from anticipated US reciprocal tariffs.
The fund's mobilization will involve reviewing current and next year's budgets, securing soft loans from state-owned financial institutions, utilizing the Central Fund, and re-evaluating the 'digital wallet' scheme.
While the initiative aims to maintain a minimum 3.0% growth rate, it may lead to a review of the 'digital wallet' scheme and could increase public debt by 0.3% of GDP, with officials emphasizing effective use to preserve financial credibility.

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.