Latest news with #PheuThai
The Star
5 hours ago
- Business
- The Star
A golden visa rescue plan
Needing a boost: Thailand's Tourism Authority lowered its forecast for foreign tourist arrivals in 2025 to 35 million from 40 million, with Chinese visitors falling short of projections due to safety concerns. — AFP Former Thai Prime Minister Thaksin Shinawatra suggested the country create a golden visa scheme for wealthy foreigners to become long-term residents to boost the kingdom's sluggish economy. The golden visa scheme could potentially bring in the equivalent of Thailand's US$500bil (RM2.12 trillion) economy, Thaksin said in a speech at the 'Unlocking Thailand's Future' conference in Bangkok. He suggested the country could attract 600,000 people who would deposit US$1mil (RM4.24mil) apiece for the visa. In return, they'd get rights to buy property in Thailand, helping the real estate sector, with the proceeds to fund education for Thai people. 'It will drive GDP growth, reduce public debt, spur domestic consumption,' Thaksin said. 'It's new, fresh money, and so worth pursuing.' Thaksin retains significant influence with policymakers through the ruling Pheu Thai party, helmed by his daughter Paetongtarn Shinawatra, despite having no formal title in the government. His speech to business people on how to invigorate growth comes after the Constitutional Court recently suspended Paetongtarn as prime minister while it deliberates on an alleged ethics violation case involving her handling of a border dispute. Thaksin has his own legal troubles, including a decade-old royal defamation case that is due to be ruled on next month. He remains confident he will be found innocent, he told the seminar. Thailand's economy, which relies heavily on exports and tourism, has expanded at an average of under 2% over the past decade, trailing other major South-East Asian economies. Gross domestic product will likely grow 1.3% to 2.3% in 2025, constrained by high household debt and slowing tourist arrivals, while the economy is also at risk of a 36% tariff from the United States, its largest export market. Earlier this week, Thailand's Tourism Authority lowered its forecast for foreign tourist arrivals in 2025 to 35 million from 40 million, with Chinese visitors falling short of projections. Only 2.3 million Chinese visitors came to Thailand in the first half of 2025, compared with 3.4 million a year earlier, according to government data. News of a Chinese actor's kidnapping to Myanmar through Thailand increased safety concerns, said Thaksin, who suggested that he would personally insure any Chinese travellers to Thailand in order to win their confidence. — Bloomberg
Bangkok Post
7 hours ago
- Politics
- Bangkok Post
Thaksin has 'nothing to lose'
Former prime minister Thaksin Shinawatra has stepped back into the political spotlight as the ruling Pheu Thai Party and his daughter, suspended Prime Minister Paetongtarn Shinawatra, find themselves on increasingly shaky ground. Thaksin's public appearances included an exclusive talk on July 9, a keynote speech on July 17 and a high-profile merit-making ceremony at Wat Ban Rai in Nakhon Ratchasima on Saturday. Widely seen as the de facto leader of Pheu Thai, Thaksin addressed a broad array of topics including the Hun Sen clip and the Pheu Thai Party's directions following the Bhumjaithai Party's exit from the coalition and the looming Constitutional Court ruling in Ms Paetongtarn's case. Thaksin, typically a vocal figure, had been unusually quiet for over three weeks. His re-emergence ignited chatter over whether it is intended to help Ms Paetongtarn and whether it will stabilise or add further complications for the Pheu Thai-led government. Complicating the crisis Phichai Ratnatilaka Na Bhuket, a political science lecturer at the National Institute of Development Administration, said Thaksin appears to be sending a message to the conservative camp that he is still playing by the rules. Thaksin signalled that the party will not work with any party that supports changes to Section 112 of the Criminal Code, or the lese majeste law, and left the door open to working again with the Bhumjaithai Party, which is against amending the lese majeste law and granting amnesty to the lese majeste offence, he said. "It's his way of telling the conservative bloc that between the People's Party (PP) and the Bhumjathai Party, he'd still rather work with Bhumjaithai despite the rift," said the academic. He said that Thaksin's latest move is also an effort to help his daughter who he portrayed as a victim of Hun Sen's trickery. The party's popularity, especially in its northeastern stronghold, dropped from 40% to 10% in some polls. However, he believed Thaksin's intervention has done more harm than good because the public sees Ms Paetongtarn as inexperienced when dealing with international affairs. As for the party, the former prime minister's comments only reinforce the public perception that he is calling the shots in the government especially after his visit to Ban Phitsanulok to attend a meeting of "Team Thailand" for talks about Thailand's latest tariff proposal to the United States, Mr Phichai said. There are already complaints he has influenced the party and if it can be proven that Pheu Thai has been following his orders, it could become a real issue, he added. For the Pheu Thai Party to win back support, it has to take the political offensive, said Mr Phichai. Pheu Thai's recent moves such as putting the brakes on the casino-entertainment complex plan and quietly undermining Bhumjaithai, which shares the same provincial power base, are part of a broader political strategy, he said. Pheu Thai is also using the Klatham Party to pull influence away from rivals and going after senators with ties to Bhumjaithai. The 20-baht flat-rate electric train fare is also aimed at shoring up public support. "I don't think it can really help his daughter or the party. If Thaksin really wants to help, the best thing he can do is step away. Don't pull the strings from behind the scenes. Just stay home with the grandchildren," he said. No longer about popularity Stithorn Thananithichot, director of the Office of Innovation for Democracy at King Prajadhipok's Institute, said Thaksin's recent move is to help his daughter and show that the "deal" is, in fact, still intact. However, he said the Pheu Thai-led coalition may not stay beyond the end of this year. A House dissolution is expected after the 2026 budget bill clears parliament and a rotation of positions is finalised. Thaksin's visit to Ban Phitsanulok suggests the former premier is not concerned about allegations that he is pulling the strings and at this point he has nothing to lose and must demonstrate strength, said Mr Stithorn. "He is sending a message that even without Bhumjaithai, Pheu Thai is still standing. It is to show his deal remains the primary deal. There's no need for a new formula. It's Thaksin and Pheu Thai only," he said. However, Thaksin's move has done little to boost public support as reflected in recent opinion surveys, adding Thaksin himself seems to be aware that trying to complete with the orange camp on popularity is a losing battle. Instead, his focus seems to be consolidating power through "big houses" whether by drawing them directly into Pheu Thai's fold or using allied parties to do work. The goal is to secure enough parliamentary support to build a majority when the time comes. Looking ahead to the next polls, Mr Stithorn said Pheu Thai is unlikely to come out on top and could even fall to third place. "It's going to be tough. And their best hope is to forge alliances with the Klatham Party and others. If they can get pass the 250-seat threshold, they have a shot [at forming the government," he said. Pheu Thai's defence Somkid Chueakong, deputy secretary-general to the prime minister for political affairs, defended Thaksin's return to the spotlight, saying it was planned well before the leaked audio clip surfaced. He said the government has been tapping into Thaksin's experience to help steer the country through difficult economic conditions such as trade tensions with the US and politically, Thaksin's remarks supported the government stance and were not beyond what Pheu Thai has done and will do. When asked whether Thaksin remaining quiet might actually help the government, Mr Somkid disagreed. "Keeping silent might not be better. Ms Paetongtarn is being suspended and opinion polls reflect public sentiments. People are feeling uncertain about leadership," he said.
Business Times
2 days ago
- Business
- Business Times
Thaksin touts golden visa, higher travel fees to boost Thailand
[BANGKOK] Former Thai Prime Minister Thaksin Shinawatra suggested the country create a golden visa scheme for wealthy foreigners to become long-term residents and called on Airports of Thailand (AOT) to hike passenger service fees to boost the sluggish economy. The golden visa scheme could potentially bring in the equivalent of Thailand's US$500 billion economy, Thaksin said in a speech at the 'Unlocking Thailand's Future' conference in Bangkok on Thursday (Jul 17) evening. He suggested the country could attract 600,000 people who would deposit US$1 million apiece for the visa. In return, they'd get rights to buy property in Thailand, helping the real estate sector, with the proceeds to fund education for Thai people. 'It will drive GDP growth, reduce public debt, spur domestic consumption,' Thaksin said. 'It's new, fresh money, and so worth pursuing.' Thaksin retains significant influence with policymakers through the ruling Pheu Thai party, helmed by his daughter Paetongtarn Shinawatra, despite having no formal title in the government. His speech to business people on how to invigorate growth comes after the Constitutional Court recently suspended Paetongtarn as prime minister while it deliberates on an alleged ethics violation case involving her handling of a border dispute. Thaksin has his own legal troubles, including a decade-old royal defamation case that is due to be ruled on next month. He remains confident he will be found innocent, he told the seminar. Thailand's economy, which relies heavily on exports and tourism, has expanded at an average of under 2 per cent over the past decade, trailing other major South-east Asian economies. Gross domestic product will likely grow 1.3 to 2.3 per cent in 2025, constrained by high household debt and slowing tourist arrivals, while the economy is also at risk of a 36 per cent tariff from the US, its largest export market. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up AOT should raise its passenger service charges by as much as 300 baht (S$12) per passenger to generate 40 billion baht in additional profit per year, he added. That would be a roughly 40 per cent hike from the current level. 'AOT should be an economic driver in terms of being an aviation hub, cargo centre, and aircraft maintenance centre, which can drive the economy much further,' he said. The proceeds could be used to improve the authority's six airports and help Thailand become South-east Asia's aviation hub, as well as drive businesses such as cargo and aviation maintenance. AOT shares rose 11 per cent in Thursday trading, closing at the highest since March, after local newspaper Kaohoon reported it planned to hike passenger service charges and landing and parking fees, and start collecting transit and transfer fees. There are calls to revitalise the travel industry. Earlier this week, the Tourism Authority of Thailand lowered its forecast for foreign tourist arrivals in 2025 to 35 million from 40 million, with Chinese visitors falling short of projections. Only 2.3 million Chinese visitors came to Thailand in the first half of 2025, compared with 3.4 million a year earlier, according to data from the Ministry of Tourism and Sports. News of a Chinese actor's kidnapping to Myanmar through Thailand increased safety concerns, said Thaksin, who suggested that he would personally insure any Chinese travellers to Thailand in order to win their confidence. BLOOMBERG
Straits Times
2 days ago
- Politics
- Straits Times
Thaksin touts golden visa, higher travel fees to boost Thailand
Former Thai Prime Minister Thaksin Shinawatra suggested the country could attract 600,000 people who would deposit US$1 million apiece for the visa. BANGKOK – Former Thai Prime Minister Thaksin Shinawatra suggested the country create a golden visa scheme for wealthy foreigners to become long-term residents and called on Airports of Thailand to hike passenger service fees to boost the sluggish economy. The golden visa scheme could potentially bring in the equivalent of Thailand's US$500 billion (S$643 billion) economy, Thaksin said in a speech at the 'Unlocking Thailand's Future' conference in Bangkok on July 17 evening. He suggested the country could attract 600,000 people who would deposit US$1 million apiece for the visa. In return, they'd get rights to buy property in Thailand, helping the real estate sector, with the proceeds to fund education for Thai people. 'It will drive GDP growth, reduce public debt, spur domestic consumption,' Thaksin said. 'It's new, fresh money, and so worth pursuing.' Thaksin retains significant influence with policymakers through the ruling Pheu Thai party, helmed by his daughter Paetongtarn Shinawatra, despite having no formal title in the government. His speech to business people on how to invigorate growth comes after the Constitutional Court recently suspended Ms Paetongtarn as prime minister while it deliberates on an alleged ethics violation case involving her handling of a border dispute. Thaksin has his own legal troubles, including a decade-old royal defamation case that is due to be ruled on in August. He remains confident he will be found innocent, he told the seminar. Top stories Swipe. Select. Stay informed. Singapore Driverless bus in Sentosa gets green light to run without safety officer in first for S'pore Asia Malaysia's King appoints Wan Ahmad Farid as new Chief Justice World Trump diagnosed with vein condition causing leg swelling, White House says World US strikes destroyed only one of three Iranian nuclear sites, says new report Opinion Is your child getting drawn to drugs? Don't look away and don't give up Business 5 things to know about Kuok Hui Kwong, tycoon Robert Kuok's daughter and Shangri-La Asia head honcho Business Granddaughter of late Indonesian tycoon pays $25 million for Singapore bungalow Singapore Sex first, then you can sell my flat: Women property agents fend off indecent proposals and harassment Thailand's economy, which relies heavily on exports and tourism, has expanded at an average of under 2 per cent over the past decade, trailing other major South-east Asian economies. Gross domestic product will likely grow 1.3 per cent to 2.3 per cent in 2025, constrained by high household debt and slowing tourist arrivals, while the economy is also at risk of a 36 per cent tariff from the US, its largest export market. Airports of Thailand should raise its passenger service charges by as much as 300 baht (S$11.90) per passenger to generate 40 billion baht in additional profit per year, he added. That would be a roughly 40 per cent hike from the current level. 'AOT should be an economic driver in terms of being an aviation hub, cargo center, and aircraft maintenance center, which can drive the economy much further,' he said. The proceeds could be used to improve the authority's six airports and help Thailand become South-east Asia's aviation hub, as well as drive businesses like cargo and aviation maintenance. AOT shares rose 11 per cent in July 17 trading, closing at the highest since March, after local newspaper Kaohoon reported it planned to hike passenger service charges and landing and parking fees, and start collecting transit and transfer fees. There are calls to revitalise the travel industry. Earlier this week, the Tourism Authority of Thailand lowered its forecast for foreign tourist arrivals in 2025 to 35 million from 40 million, with Chinese visitors falling short of projections. Only 2.3 million Chinese visitors came to Thailand in the first half of 2025, compared with 3.4 million a year earlier, according to data from the Ministry of Tourism and Sports. News of a Chinese actor's kidnapping to Myanmar through Thailand increased safety concerns, said Thaksin, who suggested that he would personally insure any Chinese travellers to Thailand in order to win their confidence. Bloomberg
Bangkok Post
2 days ago
- Politics
- Bangkok Post
Pheu Thai blasted for rejecting amnesty bills
The opposition has lashed out at Pheu Thai for refusing to support proposed amnesty efforts related to the lese majeste law, dismissing as unconvincing the ruling party's justification that it must appease coalition partners due to the government's slim majority. The House of Representatives on Wednesday passed three amnesty bills but rejected two versions submitted by civil society groups and the former Move Forward Party (MFP), which is now the main opposition People's Party (PP), during their first readings. The three bills, also known as the "Promote Peaceful Society Bill", were proposed by different parties. The two that did not pass were the MFP's "Amnesty for Political Offences Bill" and the "People's Amnesty Bill", which was backed by 36,723 signatories. Pheu Thai subsequently claimed it had not abandoned young people facing prosecution under Section 112 of the Criminal Code (the lese majeste law), and that it is seeking a solution, but it cannot yet reveal the details. These arguments are both vague and unsatisfactory, opposition leader Natthaphong Ruengpanyawut, also head of the PP, said yesterday. "There are channels available to offer clarity and reassurance to those impacted," he said. "I don't understand why those avenues are not being used." Mr Natthaphong also pointed out that there are various procedural approaches available in the House when it comes to voting, even if a party's stance cannot compel coalition partners to support a particular bill. He said that if Pheu Thai were genuinely committed to representing the voices of those facing political prosecution, the party could have taken a stronger, more assertive stance. He suggested Pheu Thai could have used internal coalition negotiations to propose that the issue not be subject to a binding cabinet or coalition resolution, which would have allowed its MPs the option to abstain from voting against the MFP's bill and the other bill backed by civil society groups. This way the two bills could have passed the first reading and proceed to more comprehensive deliberation, he added. Mr Natthaphong insisted that political will and clear communication are more important than hiding behind procedural constraints. "Amnesty should be broad-based, inclusive, and free from discrimination," he said, adding: "Only then can it lay the foundation for genuine peace and national reconciliation." Rangsiman Rome, a PP list-MP, meanwhile, described the rejection of both bills as a troubling sign of selective treatment and accused the government of lacking the political courage needed to seriously address deep-rooted political conflicts. "Pheu Thai does not have even a fraction of the courage needed to seize this opportunity to address the crisis boldly," Mr Rangsiman said.
