Re: Baht's biggest surge since 1998 poses risk to tourism and Exports. The Thai baht is experiencing its sharpest rise in 26 years, reaching levels last seen during the 1998 Asian financial crisis. This surge has hampered Thailand's recovery in the tourism and export sectors, Bloomberg News reports. ASEAN NOW

Guten Morgen Ola , meine Freundin Lada ist im Palmtree und sie hat im Anbau D3 bei mir eine schwarze oder braune Schlange gefunden . Die Schlange 🐍 ist von meinen Grundstück runter , also aufpassen. LG.Thomas Micklisch

Ola Jansved <olajnsvd@gmail.com> schrieb am Sa., 21. Sept. 2024, 00:30:

 

The Thai baht is experiencing its sharpest rise in 26 years, reaching levels last seen during the 1998 Asian financial crisis. This surge has hampered Thailand's recovery in the tourism and export sectors, Bloomberg News reports.

 

While the baht's rise is partly linked to a weakening US dollar ahead of the Federal Reserve's anticipated rate cut, its unexpected appreciation against key trade currencies has made Thai products less competitive abroad.

 

Commerce Minister Pichai Naripthaphan and Deputy Finance Minister Paophum Rojanasakul have called on the Bank of Thailand (BOT) to take action to curb the baht's rapid rise and manage exchange rate volatility.

 

Kriengkrai Thiennukul, chairman of the Federation of Thai Industries (FTI), noted that the strong currency has driven up production costs and worsened the influx of low-cost imports from China. "We need a stable baht and help managing financial costs," Kriengkrai emphasized.

 

Paophum added that it's vital for the baht to remain "neither too strong nor too weak, but above all, stable."

Despite continued growth in tourism, the stronger baht may reduce tourists' spending power, particularly affecting shopping and accommodation. Surawat Akaraworamat, vice president of the Tourism Council of Thailand, pointed out that the higher exchange rate makes goods and services appear more expensive to foreign tourists.

 

The baht's strength may also hamper Thailand's ability to meet its tourism goals for the year. This presents a fresh challenge for Prime Minister Paetongtarn Shinawatra, who is focused on boosting the economy and lowering living costs amid slower growth in Thailand compared to other ASEAN countries. Both tourism and exports are vital economic drivers, repoerted The Nation.

 

Picture courtesy: TTG Asia

 

The BOT has voiced concern over sharp currency fluctuations, with the baht appreciating 9.14% against the US dollar in the past three months, significantly above the yearly average of 7.96%. This volatility has put the export sector under additional pressure.

 

The BOT has committed to stepping in to stabilize the baht and mitigate further damage to the economy. Nattaporn Triratanasirikul, deputy managing director of Kasikorn Research Center, noted that the currency's sustained strength will be a key topic for the BOT's Monetary Policy Committee meeting on October 16.

 

TOP Picture courtesy: Thai Rath

 

-- 2024-09-21

Baht's biggest surge since 1998 poses risk to tourism and Exports. The Thai baht is experiencing its sharpest rise in 26 years, reaching levels last seen during the 1998 Asian financial crisis. This surge has hampered Thailand's recovery in the tourism and export sectors, Bloomberg News reports. ASEAN NOW

 

The Thai baht is experiencing its sharpest rise in 26 years, reaching levels last seen during the 1998 Asian financial crisis. This surge has hampered Thailand's recovery in the tourism and export sectors, Bloomberg News reports.

 

While the baht's rise is partly linked to a weakening US dollar ahead of the Federal Reserve's anticipated rate cut, its unexpected appreciation against key trade currencies has made Thai products less competitive abroad.

 

Commerce Minister Pichai Naripthaphan and Deputy Finance Minister Paophum Rojanasakul have called on the Bank of Thailand (BOT) to take action to curb the baht's rapid rise and manage exchange rate volatility.

 

Kriengkrai Thiennukul, chairman of the Federation of Thai Industries (FTI), noted that the strong currency has driven up production costs and worsened the influx of low-cost imports from China. "We need a stable baht and help managing financial costs," Kriengkrai emphasized.

 

Paophum added that it's vital for the baht to remain "neither too strong nor too weak, but above all, stable."

Despite continued growth in tourism, the stronger baht may reduce tourists' spending power, particularly affecting shopping and accommodation. Surawat Akaraworamat, vice president of the Tourism Council of Thailand, pointed out that the higher exchange rate makes goods and services appear more expensive to foreign tourists.

 

The baht's strength may also hamper Thailand's ability to meet its tourism goals for the year. This presents a fresh challenge for Prime Minister Paetongtarn Shinawatra, who is focused on boosting the economy and lowering living costs amid slower growth in Thailand compared to other ASEAN countries. Both tourism and exports are vital economic drivers, repoerted The Nation.

 

Picture courtesy: TTG Asia

 

The BOT has voiced concern over sharp currency fluctuations, with the baht appreciating 9.14% against the US dollar in the past three months, significantly above the yearly average of 7.96%. This volatility has put the export sector under additional pressure.

 

The BOT has committed to stepping in to stabilize the baht and mitigate further damage to the economy. Nattaporn Triratanasirikul, deputy managing director of Kasikorn Research Center, noted that the currency's sustained strength will be a key topic for the BOT's Monetary Policy Committee meeting on October 16.

 

TOP Picture courtesy: Thai Rath

 

-- 2024-09-21

PM Faces Pressure Over Thaksin's Alleged Hospital Fake-Out. Prime Minister Paetongtarn Shinawatra is in a precarious position, with her political career hanging in the balance due to legal issues surrounding her father, Thaksin Shinawatra. The complication arises from allegations that Thaksin, the influential figure behind the Pheu Thai party, faked a critical illness to avoid jail time by staying at Police Hospital, Bangkok. ASEAN NOW

Thailand's Prime Minister Paetongtarn Shinawatra reads the policy statement at parliament in Bangkok, Thailand, Thursday, Sept. 12, 2024. Paetongtarn appeared Parliament for the first time to lay out how her government envisions to improve the country. (AP Photo/Sakchai Lalit)

 

Prime Minister Paetongtarn Shinawatra is in a precarious position, with her political career hanging in the balance due to legal issues surrounding her father, Thaksin Shinawatra. The complication arises from allegations that Thaksin, the influential figure behind the Pheu Thai party, faked a critical illness to avoid jail time by staying at  Police Hospital, Bangkok.

 

On September 18, a petition was submitted, urging Paetongtarn to reveal the truth regarding her father's hospital stay. The petition demands a full and transparent disclosure of the evidence, including CCTV footage, that purportedly documents Thaksin's activities in the hospital's private ward. Thaksin was granted an unusual six-month stay in a ward generally off-limits to other convicts.

If Paetongtarn complies, she risks incriminating her father, potentially leading to his arrest and imprisonment for perjury. Thaksin was already sentenced in absentia to eight years for power abuse and misconduct, but received a royal pardon reducing his sentence to one year. Yet, he had not spent any time behind bars, owing to his claimed critical illness.

 

Conversely, if Paetongtarn refuses to act, she could face charges of neglecting her official duties. This dereliction of duty might lead to her impeachment and removal from office, a partisan source indicated.

 

The National Anti-Corruption Commission (NACC) seeks evidence allegedly being withheld by the Police Hospital and the Corrections Department. They believe this evidence will reveal the truth behind Thaksin's "critical illness" and verify whether he genuinely required detention outside a prison.

 

This episode is eerily reminiscent of the plight faced by Paetongtarn's aunt, former Prime Minister Yingluck Shinawatra, over a decade ago. Yingluck was sentenced to five years in jail for failing to curb corruption in a rice subsidy scheme during her term.

 

With her father's fate hanging in the balance and her own political future at risk, Paetongtarn must navigate this legal and ethical minefield carefully. The outcome of this situation could have significant implications for her premiership and the future of the Shinawatra family's political legacy.

 

-- 2024-09-19



Thai government tweaks guidelines on latest visas. The Interior Ministry has issued fresh guidelines for the much-discussed Destination Thailand Visa (DTV) and the boost for visa-exempt tourists from 30 to 60 days.- Pattaya Mail

Thai government tweaks guidelines on latest visas

Pattaya MailSeptember 17, 2024

Attending business meetings doesn't require a work permit as long as there aren't too many.

The Interior Ministry has issued fresh guidelines for the much-discussed Destination Thailand Visa (DTV) and the boost for visa-exempt tourists from 30 to 60 days. The DTV is seen as groundbreaking as it frees remote workers from needing a work permit as long as their employment is with overseas companies or contractors. The ministry has now doubled-down by insisting that "such work must not impinge in any way on the Thai economy", a very broad restriction.

Meanwhile, those tourists entering Thailand with a visa-exempt 60 days – the vast majority – must watch their step when they are not sightseeing. An initial announcement by the Tourist Authority of Thailand last July mentioned that "ad hoc or urgent work" could be undertaken for up to 15 days provided the tourist had notified the Department of Labor. Examples given were attending conferences or meetings and – more surprisingly – repairing machinery, auditing accounts or inspecting products.

The Interior Ministry now states that, whilst attending occasional meetings is ok, temporary work permits (maximum of two for 15 days each) will be needed for the more weighty stuff mentioned above. Answering complaints that the ruling is a tad ambiguous, the ministry said that more detailed rulings would be available in due course. This is likely a timely reflection of the 10 Pheu Thai governmental priorities for the next year, announced on September 14, which include an "overhaul of visa processing".

This projected overhaul is likely to encompass a great deal more. Government spokespeople last July pointed out that the types of non-immigrant visas should be reduced as functions such as medical tourism, family visas and permission to make movies in Thailand might be subsumed by the new DTV. Not to mention the different rules for retirees under the OA and O extension of stay regulations.

Also awaiting clarification is the ETA, or electronic travel authorization, which next year will require all visa-exempt travellers to seek permission in advance of their journey. Once this data base is integrated with that overseeing the issuing of visas, a stated government aim, there will be no significant difference. Everyone will be checked on the same data base for past criminal convictions and/or deportation from Thailand as well as for Interpol warrants.

The visa overhaul also gives an opportunity for the immigration bureau to influence the upcoming bureaucracy. There are so many agencies involved in publicity about visas – Tourist Authority of Thailand, Board of Investment, The Cabinet, Department of Labor etc – that it's often forgotten that the actual implementation is performed by immigration officers at airports and borders. So far, the bureau has been strictly silent.



Bangkok Post - Baht set to continue to rise. The baht could appreciate further, after hitting a 19-month high of 32.2 baht to the dollar on Monday, if the US Federal Reserve cuts interest rates deeper than 25 basis points at its meeting this week, as falling US inflation could prompt the central bank to deliver an outsized rate cut.

Baht set to continue to rise

The baht could appreciate further, after hitting a 19-month high of 32.2 baht to the dollar on Monday, if the US Federal Reserve cuts interest rates deeper than 25 basis points at its meeting this week, as falling US inflation could prompt the central bank to deliver an outsized rate cut.

The Thai currency rose from Friday's close of 33.33 baht against the greenback as investors rushed to sell the dollar ahead of the central bank's Federal Open Market Committee meeting on Wednesday, according to Kasikorn Research Center (K-Research).

The yen briefly hit 139.73 per dollar, its strongest level since July last year. Treasury yields fell a second straight week with two-year notes closing at a two-year low on Friday as bets were revived on a 50-basis-point rate cut by the Fed.

Markets are currently pricing in a 59% probability of a 50-basis-point cut on Wednesday, according to the CME FedWatch tool, against 30% a week ago. This would be the Fed's first rate cut since 2020.

"The market has for some time been expecting that the US central bank would cut the rates by as much as 50 basis points, but that expectation has not really been fully priced in until now," said Kanjana Chockpisansin, head of research, banking and the financial sector at K-Research.

The baht could rise further if the Fed eventually delivers an aggressive rate cut of more than 0.25%, she said, adding that K-Research expects the baht to trade in a range of 33.0-33.8 to the dollar this week.

Besides the US, central banks in Japan and the UK also meet this week, with both expected to stand pat for now after the European Central Bank last week lowered its deposit rates for the second time this year. Analysts believe the Bank of Japan is on course to lift interest rates, but not at its meeting this week.

Meanwhile, gold prices surged to record highs on Monday, driven by a softer dollar and also expectations of a larger interest rate reduction by the Fed this week.

Spot gold was traded at an all-time high of US$2,589.23 early Monday before easing to $2,588.29. US gold futures rose by 0.2% to $2,615.80. The dollar weakened by 0.2%, making gold less expensive for other currency holders.

"The prospect of the Fed potentially wielding the axe by delivering a 50-basis-point cut this week has sent gold and the dollar in opposite directions," said Tim Waterer, chief market analyst at KCM Trade.

"Overall conditions for gold remain favourable, with further gains likely. If the dollar continues its downward trend, gold could reach $2,700 by year-end."



Bangkok Post - Minister aims to levy 300-baht tourism tax. The new tourism minister aims to start collecting the 300-baht tourism tax after it was shelved during the previous administration led by Prime Minister Srettha Thavisin, while pledging to stimulate tourism revenue to reach at least 3 trillion baht this year.

Minister aims to levy 300-baht tourism tax

Tourists are pictured at the arrivals hall at Suvarnabhumi airport. Somchai Poomlard 

The new tourism minister aims to start collecting the 300-baht tourism tax after it was shelved during the previous administration led by Prime Minister Srettha Thavisin, while pledging to stimulate tourism revenue to reach at least 3 trillion baht this year.

"I believe the collection of the tourism fee benefits the tourism industry since the revenue can be used for the development of infrastructure and attractions, along with ensuring tourist safety," said Tourism Minister Sorawong Thienthong, who took office on Monday.

The tourism fee scheme was approved by the cabinet in 2022, but has not been endorsed via publication in the Royal Gazette since that time.

Foreign arrivals by air must pay 300 baht, while the rate for those arriving by sea and land is 150 baht.

Mr Sorawong said since he still needs more time to study the readiness of the system, the ministry could not decide whether to start collection within the final quarter.

The ministry will look into the details and finalise the collection procedure in a way that does not discourage tourism sentiment.

Mr Sorawong, who is also secretary-general of the Pheu Thai Party, is the third person to have assumed the post of tourism minister within the one-year existence of the Pheu Thai-led administation.

The Ignite Tourism Thailand policy initiated by Mr Srettha should be continued, including aspects such as entertainment complexes, the aviation hub and second-tier cities, he said.

"As the government has pledged to support new man-made attractions and to boost second-tier cities, we will encourage the private sector to invest more by offering incentives, such as tax incentives," said Mr Sorawong.

The ministry would consider tourism stimulus programmes that greatly benefited domestic tourism during the pandemic, such as the We Travel Together co-payment scheme for hotel rooms and air tickets, as this project could directly distribute income to locals.

For the upcoming high season, he estimated that several events such as marathons, Loy Krathong and the New Year countdown would help accelerate revenue to reach 3 trillion baht from both domestic and international markets.

Meanwhile, as the government previously set a long-term target to achieve 3 trillion baht from foreign markets alone within its four-year term, he said the ministry under his administration would also be committed to achieving this goal.

As the government has initiated the idea to bid for a Formula One motor racing event and might choose a newly-built circuit to host it, he said he supports this policy but would like to suggest a street circuit on Ratchadamnoen Road, which would be more useful for the economy as it could depict the uniqueness of the country.

Given the spread of price-dumping tours in Thailand, he said the number of illegal companies might not have grown, but the value of losses are expected to be greater than in the past.

The ministry has already ordered related authorities to curb such illegal activities.

On Wednesday the minister will meet 20 private tourism operators, including the Association of Thai Travel Agents and the Tourism Council of Thailand, to discuss tourism policies.

Mr Sorawong took office on Monday.



Pattaya doomsayers will tell you Sin City is all but finished. A combination of gentifrication (posh buildings replacing bars and clubs) and diversification (people now bring their kids on holiday here) has all but decimated the old Pattaya. The number of western expats, especially retirees, has dropped thanks to repatriation or liver disease.- Pattaya Mail

Pattaya's raunchy nightlife is still expanding

Pattaya MailSeptember 16, 2024

Workmen put the finishing touches to the new Shark on Walking Street. (Photo Courtesy: Dave the Rave)

PATTAYA, Thailand – Pattaya doomsayers will tell you Sin City is all but finished. A combination of gentifrication (posh buildings replacing bars and clubs) and diversification (people now bring their kids on holiday here) has all but decimated the old Pattaya. The number of western expats, especially retirees, has dropped thanks to repatriation or liver disease. "Things are not what they used to be," bewails a British pensioner sipping beer with his mates as they watch the traffic jams unfold on Soi Buakhao.

Yet the pessimism is by no means the whole picture. In a few days, according to Dave the Rave's insider web page, the new Shark gogo club will be opening on Walking Street and will occupy most of Soi Diamond. It's a three-storey facade, three shophouses long and five shophouses deep, with a downstairs floorspace of 230 sq meters. Over 100 young ladies will make sure the customers – who are just as likely to be South Koreans and Singaporeans as Americans or passport holders of the European Union – are comfortable and free of hassle. For example, if you take your time ogling the gogo dancers, you won't be told to order another drink before you are ready.

Meanwhile, Pattaya's leading Gentlemen's Clubs operation is continuing its expansion. It's a consortium of local bars and clubs offering visitors who join a retreat where they can relax in style and enjoy discounts such as cheap beer, menu choices and weekly pub crawls all announced on regular email newsletters. Gentlemen's Clubs has recently announced that a 28-room, adult-themed resort with a club will be opening in Jomtien as early as January next year. Based 700 meters from Jomtien Beach, it will replace the current ISOL residential block and the facilities will include small kitchens in the rooms, an onsite restaurant, a coin-operated laundry and a large swimming pool.

Pattaya's gay scene can't compete with these macro developments. The two main venues remain the Jomtien Complex Super Town and Pattaya's Boyztown in the center of the city. The main attractions in both districts are the very glitzy and professional cabaret shows, though the audiences remain stubbornly western and elderly in appearance. Where all the gay Russians, Chinese and Indians hang out remains a bit of a mystery according to local bar owners. But, in a break with tradition, a gay bar has opened in the staunchly heterosexual Walking Street. It's Secrets in Soi 14, formerly a straight club. That's certainly a first, at any rate for many years.



Thailand issues four major announcements on new visa measures. The Ministry of Interior of Thailand has issued four major announcements on new visa measures since July 15, 2024. These measures are intended to enhance the tourism industry, attract foreign investment, and bolster local businesses and communities. ASEAN NOW 2024-09-16

 

The Ministry of Interior of Thailand has issued four major announcements on new visa measures since July 15, 2024. These measures are intended to enhance the tourism industry, attract foreign investment, and bolster local businesses and communities.

 

New Visa Categories and Extensions:

 

1. Destination Thailand Visa (DTV): Designed for digital nomads, remote workers, freelancers, and those interested in Thai cultural activities. It is valid for five years and allows multiple entries, with each stay up to 180 days.

 

This visa can be renewed for an additional 180 days within Thailand. Spouses and children under 20 years old can also apply for dependent DTV visas.

 

2. Extended Visa-Free Period: Visitors from 93 nationalities now enjoy an extended visa-free stay from 30 to 60 days, encouraging longer tourist and short-term business visits.

 

3. Expanded Visa on Arrival: Additional nationalities are eligible for visas on arrival, increasing the total to 31 nationalities.

 

4. New Student Visa (ED-Plus): Aimed at undergraduate and higher-level students, this visa allows them to stay and seek employment in Thailand post-graduation.

Work and Legal Considerations:

 

The DTV visa is a significant step forward for digital nomads and remote workers. However, foreigners must adhere to the Foreigner's Working Management Law.

 

The law defines 'work' as any occupation, regardless of employer nationality. Therefore, activities potentially affecting Thai job markets may require a work permit, even if the work is for an overseas employer.

 

Clear guidelines from the Department of Employment (DOE) are anticipated to ensure compliance and build confidence among foreign workers.

 

Short-Term Business Activities:

 

With the visa-free period extended to 60 days, short-term business travelers must carefully evaluate their activities to ensure they do not constitute 'work' under the law.

 

Specific activities may require regular or urgent work permits, initially valid for 15 days and extendable for another 15 days.

 

Activities considered urgent or specific work include organizing conferences, conducting academic lectures, temporary internal audits, quality inspections, and machinery installation.

 

These measures ensure that while foreigners can take advantage of Thailand's extended visa privileges, they comply with local employment laws. This ensures legal security and protects Thai citizen jobs.

 

These comprehensive visa updates mark Thailand's steps to attract foreign talent and investment, enhancing its international appeal and economic growth while maintaining a regulated work environment, reported The Nation.

 

Picture courtesy: Daily Post

 

-- 2024-09-16

Thailand's 5-20 Year Visa Now a Bit Cheaper. The Thai Privilege Visa (TPV), previously known as the Elite Visa, has recently suspended its 50,000 baht (approximately US$1,500) registration fee that was used for background checks of applicants. ASEAN NOW

 

 

The Thai Privilege Visa (TPV), previously known as the Elite Visa, has recently suspended its 50,000 baht (approximately US$1,500) registration fee that was used for background checks of applicants.

 

This fee waiver is available for applications submitted from the beginning of September to the end of 2024. The TPV offers various visa options ranging from 5 to 20 years, each featuring unique perks and bonuses, with current prices spanning from 900,000 baht to over 2 million baht.

 

In a recent announcement, the Privilege company, wholly owned by the Tourism Authority of Thailand, stated that this move aims to attract more new members during a period of economic uncertainty and evolving visa policies.

 

The timing of this decision hints that the primary motive may be to compete with new visa options such as the 10-year Long Term Residence Visa and the recently introduced 5-year Destination Thailand Visa.

 

Additionally, travellers now have easier access to Thailand with options such as a 60-day visa on arrival, extendable by another month at Thai immigration, and border-hopping for repeated stays, writes Barry Kenyon for Pattaya Mail.

The Elite Visa, launched in 2003 and transferred to the Privilege Card in 2013, has always included benefits like multiple entries, fast-track services at Thai airports, and discounts at selected retail outlets, hotels, spas, and golf courses.

Although its appeal initially fell short of expectations, the Covid-19 pandemic saw a surge in applications from affluent visitors who sought the flexibility to enter and exit Thailand at will. It is estimated that the current enrollment stands at around 30,000, with the largest group coming from China.

 

Originally conceived by then-Prime Minister Thaksin Shinawatra, the Elite Visa struggled to meet its ambitious membership goals. Early promises that members would be allowed to purchase a small plot of land in their name for residential use were eventually vetoed by the Cabinet.

 

Over the years, the rules for different TPV categories have become increasingly complicated, with higher-cost options offering more generous perks. While all nationalities except North Koreans are now eligible to apply, the future of the TPV remains a contentious issue.

 

Ultimately, the suspension of the registration fee and other strategic changes come as part of an ongoing effort to make Thailand more attractive to long-term international visitors, despite the complexities and controversies surrounding the visa.

 

Top: File photo

 

-- 2024-09-14

Ministry of Public Health Intensifies Flood Relief Efforts in Chiang Mai and Chiang Rai. Pattaya News

Ministry of Public Health Intensifies Flood Relief Efforts in Chiang Mai and Chiang Rai

Goongnang SuksawatFriday, 13 September 2024, 18:27

PRESS RELEASE:

The Ministry of Public Health has intensified its efforts to aid flood and landslide victims in Chiang Mai and Chiang Rai provinces. Emergency medical response teams (MERT) are on standby, ready to deploy to affected areas immediately upon request, ensuring prompt and safe assistance to those in need.

In Chiang Rai, Health Region 1 has dispatched Mental Health Crisis Assessment and Treatment Teams (MCATT) to shelters at Mae Sai Municipality and Wat Phrom Wihan. These teams are providing both physical and mental health support to flood victims. In Chiang Mai, MCATT and Continuity of Care (COC) teams are coordinating with local health workers to monitor patients' conditions, especially bedridden individuals who have already been relocated to safe zones.

Additionally, the Regional Health Promotion Centre 1 Chiang Mai has stocked 600 V clean kits for water purification and disinfection and is preparing 3,000 EM balls to manage the ongoing flood situation. These measures aim to protect the health and well-being of affected residents during the crisis.

The preceding is a press release from the Thai Government PR Department.



Thai PM Paetongtarn Outlines 10 Urgent Policies for National Reform. On September 12th, 2024, Thai Prime Minister Paetongtarn Shinawatra delivered the government’s policy statement to the parliament, emphasizing 10 urgent policies aimed at tackling pressing national issues. - The Pattaya News

Thai PM Paetongtarn Outlines 10 Urgent Policies for National Reform

Kittisak PhalaharnThursday, 12 September 2024, 18:03

National —

On September 12th, 2024, Thai Prime Minister Paetongtarn Shinawatra delivered the government's policy statement to the parliament, emphasizing 10 urgent policies aimed at tackling pressing national issues. 

These include comprehensive debt restructuring, particularly for housing and auto loans, supporting both formal and informal debtors without compromising financial discipline. The government also aims to protect Thai SMEs from unfair competition, especially from foreign online platforms.

Other key measures include reducing energy and utility costs through energy price restructuring, negotiating overlapping claims with Cambodia to secure additional energy sources, and introducing single-rate fares for public transport in Bangkok. 

The government plans to create new revenue streams by integrating the informal economy into the tax system, supporting social welfare, education, and healthcare.

To boost the national economy, the government will launch the digital wallet scheme, prioritizing vulnerable groups, and modernize the agricultural sector to increase the value of agricultural products. Tourism will also be expanded through new attractions like entertainment complexes featuring casinos, hotels, and other leisure facilities.

Paetongtarn also addressed drug issues, vowing a comprehensive approach to eradicating narcotics, and pledged stronger efforts to combat crime, particularly online and transnational crimes. Additionally, the government aims to enhance social welfare systems and adjust them to the changing societal landscape. Cannabis shall be regulated for medical use and to protect youth, but not recriminalized as a narcotic.

Paetongtarn highlighted long-term national development plans, such as advancing Thailand's creative industries, soft power, and digital economy. She emphasized infrastructure development, including large-scale transportation projects, and improving land management to increase access to housing and farming opportunities.

On foreign policy, Paetongtarn reaffirmed Thailand's neutral stance in international conflicts, focusing on promoting peace and economic cooperation with other nations. The government also aims to strengthen the monarchy, promote a correct understanding of royal duties, and ensure that royal initiatives are continuously implemented.

Paetongtarn concluded by assuring the public of her dedication to governing with integrity, placing the people's interests at the forefront, and working to restore pride and dignity to the Thai nation.