Thailand’s economy is experiencing prolonged ‘K-shaped’ growth - TDRI

13 Sept 12:23 Key points summarised by AI

Thailand's Economy Faces 'K-shaped' Growth: The nation experiences prolonged 'K-shaped' economic growth, with some sectors thriving while others stagnate, primarily due to global trade tariffs.
Export Growth Decelerates: Initial strong export growth in the first half of the year, driven by pre-tariff acceleration, is projected to sharply decline to just 1% for the full year, impacting the overall economy.
Domestic Challenges Persist: High public debt (90% of GDP), a slowing tourism sector, and commercial banks' reluctance to ease borrowing continue to hinder economic recovery despite low inflation and central bank rate cuts.
Modest Growth Projections: Economic growth is forecasted at a modest 1.5-2% for the current year and 1.7-1.8% for next year, with a full recovery in tourism expected to take several more years.

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.