Tag: Thai

Thai Chamber of Commerce seeks visa amnesty for tourists

The Thai Chamber of Commerce has urged the government to extend the visa amnesty for 400,000 tourists in the country. (Photo: Bangkok Post)
The Thai Chamber of Commerce has urged the government to extend the visa amnesty for 400,000 tourists in the country. (Photo: Bangkok Post)

The Thai Chamber of Commerce (TCC) has urged the government to extend the visa amnesty for 400,000 tourists here, while operators in Chiang Mai said more than 10,000 international tourists are helping to generate revenue in the province while borders remain closed.

TCC chairman Kalin Sarasin said the chamber has repeatedly demanded that the Immigration Bureau consider automatically extending the deadline for foreigners in Thailand for 90 days after the amnesty expires today, but the proposal was neglected.

“The TCC has raised this issue on three occasions, including at a meeting with the prime minister and the Interior Ministry recently,” Mr Kalin said. “We were told that this agenda was in the process, but there’s been no progress so far as the deadline approaches.”

He said the

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Thai central bank to allow gold trading in dollars soon

By Orathai Sriring and Kitiphong Thaichareon

BANGKOK, Sept 10 (Reuters)Thailand’s central bank will allow gold trading in U.S. dollars soon but it will not be mandatory, an assistant governor said on Thursday, as it tries to curb the impact of the precious metal on a stubbornly strong baht currency.

The revised rules should help reduce exchange rate volatility as domestic gold prices are linked to global gold prices XAU=, Vachira Arromdee told reporters.

“This is to provide more options for gold investors, such as for online trading,” she said.

The central bank has sent to the finance ministry adjusted rules on foreign currency deposit accounts to support gold trading in dollars, Vachira said.

The baht THB=TH strengthened by 0.3% to 31.29 per U.S. dollar at 0615 GMT, which exporters say is much stronger than the 33-34 baht rate that they need for shipments.

The central bank

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Thai Economy to Shrink 7%-9% This Yr, Protests a Worry: Business Groups | Investing News

By Satawasin Staporncharnchai and Kitiphong Thaichareon

BANGKOK (Reuters) – Thailand’s economy is expected to contract between 7% and 9% this year from the impact of the coronavirus pandemic, while frequent anti-government protests are a concern, a group of the country’s top business associations said on Wednesday.

While most of virus restrictions have been removed, the tourism-and export-reliant economy remains under pressure as the outbreak cuts global demand, according to a joint standing committee on commerce, industry and banking.

“The economy is still very weak,” Payong Srivanich, chairman of the Thai Bankers’ Association, told a briefing.

“Domestic demand is fragile due to high uncertainty, which could hurt consumer and investor confidence,” he said.

Consumer confidence rose for a fourth month in August, helped by the reopening of businesses and relief measures, but consumer spending will remain very low until at least the fourth quarter, according to a university survey.

The business

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