Category: The Bangkok Post

Thailand faces increasing pressure from the global economic slowdown, attributed to the impact of US tariffs, the decline in its fiscal buffer and domestic political uncertainty, according to Fitch Ratings.

Speaking at the company’s annual seminar yesterday, Thomas Rookmaaker, senior director of the sovereigns group for APAC at Fitch Ratings Hong Kong, said Fitch expects global growth to decelerate to 2.4% this year, down from 2.9% in 2024, amid evidence of a US slowdown.

Greater clarity has emerged on US tariff policy, pointing to headwinds for most of Asia where exports are a key growth engine.

China’s exports have held up so far as they have partially been redirected to other markets, noted Mr Rookmaaker.

The slower growth also delays fiscal consolidation, resulting in public discontent sparking protests over governance and cost of living pressure.

Fitch’s recent outlook revision of Thailand’s BBB+ rating to negative from stable reflects rising risks to the country’s public finances from prolonged policy uncertainty, combined with slowing global demand, a delayed tourism recovery and household deleveraging.

Thailand’s fiscal buffers have eroded in recent years, although the government is able to finance its deficit at lower costs compared with peers and external finances form a relative strength.

Parson Singha, senior director of financial institutions at Fitch Ratings (Thailand), addressed the banking sector outlook and noted sector earnings and asset quality are deteriorating, with impaired loans rising, particularly among small and medium-sized enterprise clients.

Fitch expects bank performance to remain challenging in 2026 due to the weak economic environment, low loan growth and declining interest margins.

However, key loss absorption buffers such as loan-loss allowance coverage and core capital remain sound compared with regional peers and Fitch’s benchmarks.

These buffers are holding up banks’ standalone credit profiles, despite Thailand’s negative outlook for the sovereign rating.

The Department of Airports has announced an increase in the passenger service charge – commonly known as ‘airport tax’ – for outbound passengers at six regional airports in Thailand.

Both domestic and international travellers will now pay an additional 25 baht per person.

The affected airports are Krabi, Surat Thani, Ubon Ratchathani, Khon Kaen, Nakhon Si Thammarat and Phitsanulok.

The fee for international passengers has risen from 400 baht to 425 baht per person, while domestic passengers will now pay 75 baht per person, up from 50 baht. The fee is included in the ticket price.

Local media reported that passengers travelling between domestic airports have already seen the airport tax listed at 75 baht per person under the ‘fees and taxes’ section, in line with the department’s announcement, which took effect on Wednesday.

The increase applies only to department-operated airports that have introduced three new passenger processing technologies: automated boarding pass checks, self-service check-in kiosks, and self-service baggage drop systems, which allow travellers to manage their luggage independently.

Control Data (Thailand) Limited has been entrusted by the Government of the Maldives to serve as a consultant for the design of the Civil Registration, Vital Statistics, and Identity Management (CRVSID) system under the ‘Digital Maldives for Adaptation, Decentralisation, and Diversification (D’MADD)’ project. The initiative aims to transform citizen identity verification by making it secure, transparent, and equally accessible. The project will propel this geographically challenged nation towards a milestone on its path to becoming a digital country in line with international standards.

As part of the CDG Group, Control Data (Thailand) continues to strengthen its leadership role in Thai technology on the global stage. Having earned the trust of the Maldivian government, the company has designed and set the technological standards for the CRVSID system under the D’MADD project, with the objective of enhancing public services into a secure, internationally recognised platform. This project will play a pivotal role in reshaping the Maldives, moving from unequal access to government services to becoming a digital nation where citizens can access services equally and transparently, fully aligned with ICAO standards and recognised worldwide.

Mr Thaweesak Ninwatcharamanee, President of Control Data (Thailand) Limited, said:

‘The Maldives, comprising more than 1,000 islands, is currently facing challenges in ensuring equal access to government services due to fragmented population registry data and the absence of a unified system. This has led to limitations in management and policy-making, particularly for citizens living in remote areas or in vulnerable conditions who frequently face barriers to registration. Factors such as economic constraints, limited educational opportunities, and lack of awareness of fundamental rights have prevented many from accessing essential services such as healthcare, education, and social welfare, as they often lack complete legal documentation.’

The introduction of the new population registry and digital identification system will significantly enhance convenience through seamless integration with existing platforms. It will ensure smooth and secure identity verification for citizens accessing government e-services, such as tax filing and permit applications, supported by an updated database. This system will also cover the registration of births, deaths, and changes of residence, thereby providing an accurate population count. Such data is essential for developing targeted policies in key areas such as education, public health, labour management, and disaster response. Ultimately, the initiative will drive the government towards data-driven policymaking, reflecting three core values:

Equity: Citizens across all islands will have equal rights to access government services, reducing geographical disparities that have long posed barriers.

Transparency: A centralised population database shared across government agencies will eliminate duplication and strengthen accountability in public administration.

Trust: Compliance with ICAO standards, combined with biometric technologies and advanced data protection systems, will ensure citizens’ personal information is safeguarded in line with international standards.

What Control Data (Thailand) has initiated is not merely the development of a new system for the Maldives, but a transformative step in population registry and digital identification aligned with ICAO standards. This advancement enables secure identity verification and integration with global systems such as e-passports and e-KYC platforms in the financial sector. It marks a significant milestone, demonstrating how the Maldives can leverage technology to enhance the quality of life for its citizens.

‘This project is a crucial turning point for us, enabling our involvement in developing the national population registry to meet international digital standards. Our role extends from providing consultancy on the most suitable system architecture-whether software-based solutions or flexible platforms adaptable to local workforce capacity-to preparing the System Requirement Specifications (SRS). This transition will elevate the Maldives from a paper-based bureaucracy to a practical digital standard, while building trust across all sectors. It reflects the CDG Group’s guiding principle of ‘Technology for a Better Society,’ delivering genuine value to the people,’ concluded Mr Thaweesak.

Vintage rugs and iconic film posters will take centre stage at “Vintage Revival: The Found and Reels”, which will take place at Forum, ground floor of Gaysorn Amarin, Phloenchit Road, daily from 10am to 9pm, starting tomorrow until Oct 12.

Presented by Made By Legacy in collaboration with Gaysorn Village, the exhibition invites everyone into an evocative world where design, nostalgia and storytelling converge.

Its title reflects the dual spirit of discovery and nostalgia. “Found” speaks to the thrill of uncovering hidden gems; “Reels” evokes more than analogue film — it echoes the rolls of vintage rugs and the striking stills of iconic movie posters. Each one unfolds layers of memory and design, where vintage sensibilities meet contemporary interpretation.

At the heart of the new episode is an intimate showcase of vintage rugs and iconic film posters, all thoughtfully arranged around a grand salon of design and dialogue.

More than an exhibition, it’s a curated setting where textures, colours and eras speak to one another — encouraging visitors to not only admire but to engage, reflect and connect.

Offering a multi-sensory experience for 10 days, this immersive event will feature handpicked vintage rugs that turn any room into a storybook, timeless posters from cult classics to design legends reflecting how art can define generations and visual artworks that blend utility with beauty taking modern soul to meet vintage heart.

Besides rare objects and collectable curios with timeless appeal, this is a crate-digging heaven for audiophiles and music romantics to browse through vinyl records. Also presented among the thoughtfully chosen objects will be timeless furniture, mid-century gems, industrial oddities and pieces with patina.

There will also be a lively flea market where over 30 vendors will be offering 1,000 pieces of vintage design, craft, clothing and obscure finds.

New Finance Minister Ekniti Nitithanprapas says the government’s economic stimulus plan will enable GDP expansion of more than 1% in the fourth quarter, up from an earlier forecast of just 0.3%.

In the first quarter of this year, the Thai economy grew by 3.2%, dipping to 2.8% in the second quarter. For the third quarter, growth is projected at 1.7%, while for the final quarter, the initial forecast was a mere 0.3%.

However, Mr Ekniti said five measures in the fourth quarter should help lift GDP by another 0.2-0.4 percentage points, raising growth to around 1%.

Regarding the “Khon La Khrueng” co-payment scheme, which will be submitted to the cabinet on Oct 7, he said registration for the public will be open from Oct 20-26, with the scheme starting on Oct 29. Total spending under this scheme is estimated at 66 billion baht.

Shops wanting to participate can register from Oct 15 until the programme ends in December.

The tourism stimulus scheme for secondary cities will be submitted to the cabinet on Oct 14, with hotels allowed to deduct expenses from taxes up to double the amount, said Mr Ekniti.

This measure was previously implemented in 2018, resulting in only 200 million baht in lost state revenue.

In terms of government spending, ministries and state enterprises with budgets allocated for seminars will be required to accelerate spending over the next four months, front-loading their budgets, he said.

This budget for seminars is estimated at 6-8 billion baht and is intended to stimulate the economy, said Mr Ekniti.

Regarding the issue of baht appreciation, he said the currency has already started to weaken, as the recent appreciation mainly stemmed from a current account surplus driven by exports and capital inflows.

In terms of gold exports to Cambodia, Mr Ekniti said the converted value was only US$2 billion, which is small compared with total capital inflows.

A working group has been established to monitor inflows from untraceable transactions, sometimes considered “off the books” or “grey money”, which could affect baht appreciation. The working group comprises representatives from the Anti-Money Laundering Office, the Securities and Exchange Commission, and the Fiscal Policy Office.

In a related development, finance permanent secretary Lavaron Sangsnit said Khon La Khrueng Plus conditions will differ from the previous scheme when only small retailers who were not registered as juristic persons were allowed to receive payments.

This time, micro small and medium-sized enterprises (SMEs) and small businesses registered as juristic persons are also eligible to participate.

In the Revenue Department’s system, there are roughly 3,000 micro SMEs with annual revenue of under 1.8 million baht, and another 2,000 micro SMEs with annual revenue of between 1.8 million and 30 million baht.

The Port Authority of Thailand (PAT) has inaugurated a multimodal transport project at Ranong Port, creating a freight transport route connecting China, Laos, Thailand, Myanmar and South Asian countries via the west coast of southern Thailand.

A recent ceremony marked the launch of the inaugural shipment to Yangon Port in Myanmar, helping elevate Ranong Port’s role as a central maritime trade hub on Thailand’s Andaman coast and linking regional economic networks, said Kriengkrai Chaisiriwongsuk, the PAT director-general.

The ceremony was held to promote a multimodal freight transport route that integrates trucking, rail and maritime shipping.

Ranong Port serves as a strategic hub, expanding trade and investment opportunities across the Asean and South Asian regions. The project also aims to build confidence among customers, operators, international freight forwarders and shipping lines, he said.

Mr Kriengkrai said freight transport from Ranong will take just three days to reach Yangon Port in Myanmar, four days to Chittagong in Bangladesh, and six days to both Chennai in India and Colombo in Sri Lanka.

Previously, these journeys took 14-21 days. This demonstrates the potential to significantly reduce both transit time and transport costs, providing a competitive advantage for Thai and international operators alike.

‘Ranong Port is the only government-operated port located on the Andaman coast and serves as Thailand’s gateway to the Bimstec countries: Bangladesh, India, Myanmar, Sri Lanka, Thailand, Nepal and Bhutan,’ he said.

Bimstec stands for Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation.

He said the launch not only creates new economic opportunities but also demonstrates the PAT’s commitment to developing Ranong Port into a modern, transparent and sustainable trade and transport hub.

Mr Kriengkrai said the project has received strong support from Thai Transport Centre Co, together with business partners including SCG JWD Logistics Plc, Ever Flow River Group Plc from Myanmar and SPT Smart Creation Co.

Situated in a strategic position on Thailand’s Andaman coast, Ranong Port currently has the capacity to handle both containerised and general cargo.

Ranong has also been touted as the western terminus of the controversial southern Land Bridge project, linked to Chumphon on the Gulf of Thailand by a new land transport corridor.

Sales of trucks and motorcycles, as well as farmers’ incomes nationwide, continued to contract in August due to the economic slowdown, according to the Fiscal Policy Office’s (FPO) regional economic report.

Pornchai Thiraveja, director-general of the FPO, said new truck registrations declined across all regions, with those in the central region falling by 70.8% year-on-year, the South by 30.3%, the Northeast by 49.9%, the North by 57.7%, the East by 31.2%, the West by 55.4% and Bangkok and surrounding areas by 50.7%.

New motorcycle registrations also decreased in every region during August, with those in the central region dropping by 9.2%, the South by 14.1%, the Northeast by 15.5%, the North by 22.1%, the East by 3.1%, the West by 4.4% and Bangkok and surrounding areas by 9.7%.

Farmers’ incomes fell across all regions, with those in the central region declining by 16.2%, the South by 5.9%, the Northeast by 11.4%, the North by 26.8%, the East by 10%, the West by 9.6% and Bangkok and surrounding areas by 21.5%.

The FPO also conducted the Regional Economic Sentiment Index (RSI) for September, reflecting regional economic prospects over the next six months.

These prospects are still expected to expand, particularly in the eastern and southern regions, driven by improvements in the agricultural and industrial sectors.

However, issues such as volatile weather conditions, global economic and trade fluctuations as well as progress on stimulus measures require monitoring, noted the office.

All regional RSIs tallied higher than 50%, with the eastern region the highest at 75.4%, while Bangkok and surrounding areas were the lowest at 57.4%.

The eastern region’s future index reflects confidence in continued economic expansion, particularly in the services and investment sectors, as the high season for tourism brings festivals in many areas, said Mr Pornchai.

Measures to promote tourism and investment to develop tourist attractions and infrastructure from both the public and private sectors should also support the sector, he said.

Further stimulus measures and government policies to promote high-technology industries are anticipated, which should support the recovery of domestic demand and investment. As a result, the future economic sentiment index for the Eastern Economic Corridor rose to 79.9.

Meanwhile, the southern region’s RSI tallied 71.0, driven mainly by confidence in the services and investment sectors as the high season for tourism approaches.

The Climate Change Act establishes a legal framework for achieving net zero emissions, implements carbon pricing, and enhances climate resilience, thereby having a profound impact on Thailand’s green transformation.

However, digital technology still must be developed to support emerging solutions and the trend towards carbon cost reduction, say experts at the “Climate Change and Digitalisation” forum at SX Sustainability Expo 2025.

They said selling credits abroad often yields higher returns but requires greater investment. Still, as climate impacts intensify, demand for carbon credits is expected to rise sharply, driving prices higher.

“Thailand faces mounting pressure to meet annual reduction targets as part of its commitment to the Paris Agreement. Buying carbon credits is one approach to help accelerate decarbonisation,” said Paul Connell, regional manager for Climate Change Development SEA at South Pole.

Thailand’s major emitters remain the energy, transport, and agriculture sectors. Transitioning to renewable energy, shifting to electric vehicles, and promoting sustainable farming practices have all been cited as urgent priorities, said observers.

Korakoj Sanguanpiyapan, CEO of Wave BCG, said his company focuses on climate consulting, helping organisations assess emissions, design reduction projects, and create strategies for carbon credits.

By combining digital technologies such as satellite monitoring and data analytics, businesses can track deforestation, crop health, and methane emissions from agriculture at scale — a feat that would be impossible to achieve manually across thousands of hectares.

Taweesak Ongiam, founder of ShooShok, presented a Thai-developed waste management solution that tackles food waste by turning it into compost. The initiative shows how local innovation can simultaneously address waste management and emissions reduction.

“Rather than incurring management costs, food waste can be converted into CO² credits,” he said.

Jakkanit Kananurak from Thailand’s Digital Economy Promotion Agency, said the digital economy would grow by 23.36% in the next 3-5 years, driven by the expansion of the carbon market.

When the Women’s China Open first teed off in 2006, the occasion was quietly significant. At the time, women’s golf in the Middle Kingdom was still taking fledgling steps in the global game. The domestic circuit was modest, the talent pool limited and the pathway to elite professional circuits like the LPGA Tour seemed distant, if not daunting.

Yet that first swing in Xiamen coincided with the dawn of a new era, one in which the nation’s most talented women would soon find their footing at home before spreading their wings abroad to challenge the best of the best and eventually write Chinese golf into the pages of sporting history.

Nearly two decades after the inaugural event, the transformation has been profound in China. From Feng Shanshan’s trailblazing major victory in 2012 to the steady rise of top players such as Janet Lin Xiyu, Yin Ruoning and Miranda Wang on the LPGA Tour, and milestone Olympic Games moments in Rio de Janeiro and Paris where Feng and Lin earned bronze medals, women’s golf in China has certainly been propelled to the forefront with great force.

Such has been the impact and growth in China that golfers from across Southeast Asia, including a strong representation of Thai players such as Sherman Santiwiwatthanaphong, Onkanok Soisuwan and Kan Bunnabodee, are now looking at the CLPG Tour as the career springboard as they dream of the stars.

At the heart of this rise has been the Women’s China Open. It is not just another stop on the calendar, it is the flagship event on the CLPG Tour, where every talented golfer aspires to join her idols and attain world-class stature.

For Feng, the country’s first major champion and its most iconic player, the Women’s China Open was an early inspiration especially when she saw firsthand how Korean superstars Shin Jiyai, Kim Hyo-Joo and Park Sung-Hyun dominated on Chinese soil by winning the Open five times amongst them. Shin is a former world No.1, Kim and Park are major champions and the trio holds a staggering 109 professional victories combined.

“Growing up as a young golfer, the Women’s China Open was a tournament that held special meaning for me. The experiences I gained over the years played a pivotal role in shaping my career,” said Feng, who has 22 career wins including 10 on the LPGA Tour.

Feng’s victory at the Women’s PGA Championship in 2012, one of golf’s majors, broke barriers for Chinese golf, but she has never overlooked the foundation that events like the Women’s China Open and the CLPG Tour provided.

“I am proud to see Chinese golfers achieving success on the LPGA Tour, and I believe the future of women’s golf in China is exceptionally bright.”

For Janet Lin Xiyu, who has taken a temporary leave of absence from the LPGA Tour for the arrival of her first child, the Women’s China Open was both a launching pad and a personal milestone. She became the first Chinese golfer to lift the trophy in 2019, an achievement she cherishes as much as her achievements abroad, including a podium finish at the Paris Olympic Games last summer.

“That achievement will always hold a special place in my heart, and I am proud to have contributed to the growth of our country’s golfing history,” said Lin, who owns seven CLPG Tour victories. “From the time I began competing, the Women’s China Open stood out as one of the most important tournaments on the calendar. It inspired me to push harder and strive for excellence. Like all great national Opens, it has played a pivotal role in developing women’s golf, providing a stage for Chinese players to challenge themselves.”

From the inaugural edition in Xiamen to this year’s groundbreaking move to Shanghai where the tournament will be played at Enhance Anting Golf Club from Oct 17-19, all eyes will be on the next wave of Chinese and regional aspiring stars. The local starlets include a group of amateurs such as 18-year-old Wang Zixuan, Xu Ying, 16, and 15-year-old Zhou Shiyuan — all of whom have won on the CLPG Tour this season.

The CLPG Tour has also provided opportunities for regional and aspiring golfers from Thailand, Malaysia, Singapore and Indonesia to sharpen their professional teeth, with the likes Sherman Santiwiwatthanaphong (THA), Onkanok Soisuwan (THA), Kan Bunnabodee (THA), Jocelyn Chee (MAS), Ng Jing Xuen (MAS), Amanda Tan (SIN) and Patricia Sinolungan (INA) benefitting immensely. With Thailand’s Jeeno Thitikul rising to world No.1 recently, the importance of women’s golf growth across the Asia-Pacific is not lost on many.

Kan, 24, was in the national team with Jeeno during their amateur days and believes the CLPG Tour offers a career pathway to the top as the No.1 from the points list will secure playing rights on the Korean LPGA Tour.

“Seeing Jeeno’s success on the LPGA Tour, I’m really proud of her. It was amazing to see her reach world No.1 which is motivating me to want to achieve it too,” said Kan.

The upswing in fortunes is certainly testament to the fact that the Women’s China Open is proving to be just the origin of greatness for women’s golf in the country, and region wide.

Public confusion and registration system glitches beset the launch of the Bangkok Metropolitan Administration’s “No Mixed Waste” programme that took effect yesterday.

While the programme, which aims to cut back city waste through new collection fees, is noble, the blunder suggests the BMA is not doing enough.

Under the programme, city dwellers or those producing less than 20 litres of garbage a day, are required to follow waste collection guidelines, registering through the “BKK Waste Pay” app.

They must prove that they are sorting garbage as required in exchange for a monthly collection fee discount: 20 baht or two-thirds less from the new 60-baht fee. BMA has also introduced a tiered fee structure for restaurants and shopping malls.

City residents who do not participate, however, will have to pay the full fee. They cannot reapply for the lower rate after six months.

Every six months, each household has to prove they are still sorting waste as recommended to remain eligible for the programme.

Apparently, the programme has met a lukewarm response from city residents. Some 230,000 households registered with the system as of Sept 4, which is a disappointing figure given the city’s population.

There were reports that at least one district in Thon Buri experienced an online registration system crash on Sept 30, just one day before the programme launch.

Phasi Charoen district office said it required two days to fix the system, which astounded residents. After all, it’s not their fault that they couldn’t register for the scheme in time.

The BMA FB page put up a poster reminding people of the programme on Sept 30 but netizens asking questions were left unanswered.

More importantly, some city residents still have no clue what to do after they separate the waste into four types recommended (food waste, recyclable waste, e-waste, and general waste).

They cannot distinguish among various types of recyclable waste, or types of waste which are hard to recycle, known as “orphan waste”. Some are unsure if they have to acquire colour-coded bins.

Needless to say, the BMA needs to improve its PR campaign for such a programme to be a success.

The programme is indeed noble given the objective of reducing waste in a city that creates an enormous amount of it, more than 12.7 tonnes per day as of 2023. It just requires improvement in terms of the practical measures.

The BMA and its district offices need to include communities more, with regard to waste collection spots for each type of waste.

It should consider providing incentives for community groups or members who pitch in with waste collection efforts.

With regard to e-waste, it’s apparent few residents are aware of its impact on health and the environment, if it is not properly treated. Although the BMA has said it would designate collection spots for this type of waste, they are not to be found anywhere so far. Some department stores and education outlets have provided special bins for this type of waste in the past but on a tiny scale.

Waste management is more than trash collecting: it is about good management and collaboration. The BMA, rather than doing it alone, has to seek partners to help it in this uphill task.