Thailand faces a tough balancing act in economic ties with major powers

11 Sept 03:57 Key points summarised by AI

Thailand navigates complex economic relations, facing scrutiny over Chinese trade deficits, 'grey businesses,' and environmental concerns, while Japanese automakers protest an uneven playing field favoring Chinese EVs.
Japanese manufacturers, long-term investors in Thailand, feel disadvantaged by tax policies that grant lower tariffs and excise taxes to Chinese electric vehicles, threatening Thailand's position as an automotive hub.
The US accuses Thailand of facilitating China's evasion of US tariffs by serving as a transshipment route, potentially triggering a new trade offensive.
In response, the Thai government is revamping its EV tax regime to support local investment and address concerns from Japanese carmakers, while pledging to tackle illegal Chinese business practices.

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.