Thailand downgrades 2025 growth forecast amid US tariff fears

17 Sept 06:34 Key points summarised by AI

Thailand's NESDC has slashed its 2025 economic growth forecast, citing significant uncertainty over potential trade tariffs threatened by US President Donald Trump.
The agency lowered its full-year growth projection to between 1.3% and 2.3%, a notable decrease from the earlier estimate of 2.3% to 3.3%.
Key reasons for the downgrade include the looming threat of a 36% US levy on Thai goods and a projected decline in tourist arrivals for 2025.
Private sector investors are reportedly holding back until trade negotiation outcomes become clearer, contributing to a likely sluggish economic situation in the second quarter.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Today 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.