Exports to US lift Thailand’s GDP, but Q2 growth slows to 2.8%

14 Sept 09:11 Key points summarised by AI

Thailand's Q2 GDP growth decelerated to 2.8%, resulting in a 3% growth for the first half of the year.
Increased exports to the US, particularly ahead of new tariff implementations, significantly bolstered economic expansion, with exports rising 14.5% to US$84.1 billion.
The slowdown in Q2 growth was primarily attributed to a production decrease in the non-farm sector, especially tourism, while private and government consumption also contracted.
The National Economic and Social Development Council (NESDC) adjusted Thailand's full-year growth forecast slightly upwards to 1.8-2.3%.

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.