Tourist arrivals topped 12m 6M23 (to June 25) and are on course to reaching 25m by end of year, said government, which corresponds with AOT’s figure of 34.31m tourists thru its 6 airports for 1H23 fiscal (Dec – May).
Eppo prepping hydrogen pilot project: Gases to be blended to fuel electricity generators at plant run by Egat in Ayutthaya. Energy officials plan to push ahead with hydrogen fuel development in an effort to make it one of the main fuels used in the power, transport and industrial sectors, with the aim of becoming less dependent on fossil fuels, says the Energy Policy and Planning Office (Eppo). Bangkok Post
Q1 household debt hits B16tn: Household debt in the first quarter this year soared to 16 trillion baht, accounting for 90.6% of GDP, attributed to increases in debt as well as the redefinition of national household debt, says Sakkapop Panyanukul, the Bank of Thailand’s senior director of the economic and policy department. Bangkok Post
Production hit by export slowdown: Thai firms reduce shifts and overtime. Manufacturers in 25 industries are adjusting their production plans following an export downturn that caused a drop in value for eight consecutive months, says the Federation of Thai Industries (FTI). These industries, notably furniture, machinery, steel and iron, and construction materials, depend on sales to the US as well as European and Asian countries. According to the latest FTI survey of 201 company executives and its members, goods exported to Asian markets excluding Asean made up 36.2% of all overseas shipments, followed by Asean (27.6%), the EU (12.4%) and the US (11.4%). Bangkok Post
The Pheu Thai Party and the MFP have agreed to nominate Wan Muhammad Nor Matha, leader of the Prachachat Party, as House speaker, ending a bitter battle over the post.
Dry spell could last into 2024: Much of the country is experiencing below-average rainfall due to the El Nino phenomenon, and this is only likely to intensify in November and could even linger until early next year, according to the Thai Meteorological Department (TMD). Bangkok Post
Shippers decrease export forecast: The Thai National Shippers’ Council (TNSC) has trimmed its export forecast to a range of -0.5% to 1% growth, compared with 0-1% growth previously, based on high uncertainty surrounding major trading partners the US, the EU and China, in addition to relatively high global interest rates. Bangkok Post
House Speaker said if MFP leader Pita fails to secure the votes required to become a Prime Minister in the 1st House session on Jul 13, a 2nd round of voting is likely to be held on July 19.
SEC files charges against Stark Corp for misconduct: The Securities and Exchange Commission (SEC) has filed charges with the Department of Special Investigation (DSI), accusing Stark Corporation and nine others, including the company’s largest shareholder, of financial misconduct. Bangkok Post
Agencies unite for electric car innovation: Five state and private agencies have joined hands to develop the electric vehicle (EV) industry through more R&D projects as well as better support for local startups and small and medium-sized enterprises (SMEs) in the automotive market. Bangkok Post
