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Thailand: UTCC raises GDP outlook to 3.9%

The University of the Thai Chamber of Commerce (UTCC) has increased its forecast for GDP growth in 2017 to 3.9%, up from the previous forecast of 3.6% as hefty exports and a growing tourism industry support the upgrade. The UTCC also forecast exports this year to grow 7.5% in line with the Commerce Ministry outlook. […]

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Thailand: TAT puts tax plan on hold until 2018

The Tourism Authority of Thailand (TAT) is setting aside its proposed tax deduction for domestic tourism until next year, saying the scheme requires better understanding and collaboration with the Finance Ministry. The TAT is likely to do a rethink in early 2018 after the Finance Ministry rejected the plan in September over doubts about whether […]

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ThaiBev acquires Myanmar distilleries as TPG exits

Thai Beverage Public Co has acquired a combined 75% stake in two Myanmar distilleries in a deal worth $742 million, hoping to tap into growth in the country’s nascent spirits market. ThaiBev acquired the 75% stake in Myanmar Supply Chain and Services Go (MSCS) and Myanmar Distillery Co (MDC) from four third-party vendors, including Texas-based […]

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Thailand: Foreign visitors up 5.6%, led by Chinese

Thailand welcomed 26.9 million foreign tourists from Jan 1 to Oct 11 and generated tourism revenue of 1.37 trillion baht, up 5.6% and 7.6% respectively compared with the same period last year. Tourism and Sports Minister Kobkarn Wattanavrangkul said the Chinese remained at the top of international arrivals with 7.63 million. During China’s national holiday […]

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