Thailand 20260213
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Headlines:
Five Thousand Complaints and Nobody's Counting
Six Billion Baht and 74 Seats
New PM, Same Old Score
Growth Crawls at 1.6%, but Green Money Pours In
Bangkok Bets on Bitcoin Futures
Seventeen Visas Walk In, Seven Walk Out
AXA Wants Chinese Buyers Paying in Yuan
Lunar New Year Wallets Open a Little Wider
Five Thousand Complaints and Nobody's Counting
Thailand's February 8 election has drawn more than 5,000 voter complaints to independent watchdog Vote62, and protesters are now camping outside ballot storage sites in multiple provinces, from Chonburi to Chanthaburi to Suphan Buri. The Election Commission has so far accepted just 113 formal complaints and rejected a recount request in Chonburi, even as demonstrators in Bangkok demand the resignation of all seven commissioners. Videos showing ballots counted in the dark, vote tallies that don't match polling station records, and 1.2 million invalidated ballots (3.6% of the total) have fueled a #RecountForTheWholeCountry hashtag.
Read more: CNA (Complaint), Bangkok Post (Scrutiny), Bangkok Post (Protester Perspective), Pattaya Mail (Provincial Protests), Thai Enquirer (Discrepancies)
Six Billion Baht and 74 Seats
Pheu Thai reportedly doubled its campaign war chest to about 6 billion baht for the February 8 election and came away with 74 seats. Bhumjaithai's roughly 193-seat landslide is reshaping the political map, leaving the Shinawatra machine with its worst result since Thai Rak Thai was formed in 1998. The party got shut out completely in Chiang Mai, the family's home province, where it had never failed to win seats in any general election. Paetongtarn Shinawatra's campaign appearances in the Northeast reportedly reminded border voters of the audio clip with Hun Sen, while party insiders blamed "air-conditioned war-room" strategists who had never run a real election. Consumer confidence ticked up to 52.8 in January from 51.9 the month before, on expectations of stable government, and markets rose Monday as investors welcomed policy continuity. Sudarat Keyuraphan quit as Thai Sang Thai leader after her party secured just two seats, saying she'll shift to civic activism pushing anti-corruption reforms, including mechanisms for 50,000 citizens to initiate removal proceedings against corrupt politicians.
Read more: Nation Thailand (Election Investment), Nation Thailand (Party Resignation), Yahoo (Market Sentiment), Eco-Business (Climate Neglect), Trading View (Consumer Confidence)
New PM, Same Old Score
Thailand scored 33 out of 100 on Transparency International's latest Corruption Perceptions Index, landing 116th out of 182 countries, and Prime Minister Anutin Charnvirakul would like everyone to know he's not happy about it. He called the ranking "quite low," said the country had effectively "failed" a 100-point test, and admitted he was uneasy about what the number does to investor confidence. His proposed fix is to pull together PACC, AMLO, the OPDC, and the Board of Investment to fast-track legal reforms, tighten enforcement, and simplify the approvals-and-permits system he described as critical to keeping foreign money flowing. Deputy Prime Minister Borwornsak Uwanno got the nod to push the legislative side. Whether any of it moves faster than Thailand's previous anti-corruption pledges is the part Anutin forgot to mention left out.
Read more: Nation Thailand
Growth Crawls at 1.6%, but Green Money Pours In
The World Bank expects Thailand's economy will grow just 1.6% this year, down from an earlier estimate, weighed down by high household debt and a sluggish tourism recovery. But the money flowing into green industry tells a different story. Gulf Development just locked in $1.9 billion in financing for 27 renewable energy projects totaling 939 megawatts, and the Industrial Estate Authority secured a separate $100 million World Bank loan to cut carbon emissions at industrial parks and trade carbon credits internationally. The bank is bullish on advanced green manufacturing as the growth pathway, pointing to EVs, solar equipment and energy-efficient appliances as higher-value plays. Growth is expected to rise a hair - up to 2.2% in 2027 - as foreign investment projects translate into inflows.
Read more: Bangkok Post (Growth Breakdown), Bangkok Post (Carbon Credit Scheme), Travel and Tour World (Eco Export Potential), Sustainabilityonline (Renewable Investment), Market Screener (Forecast Revision)
Bangkok Bets on Bitcoin Futures
Thailand's Cabinet gave the green light on February 10 to expand the Derivatives Act so digital assets like Bitcoin can serve as underlying instruments for regulated derivatives, and the SEC is now drafting amended rules for brokers, exchanges, and clearinghouses. The regulator is working with Thailand Futures Exchange to finalize contract specs that are matched to crypto's risk profile, part of a push that includes finalizing ETF guidelines expected early this year and a three-year plan covering tokenization and green tokens. Binance Thailand's CEO Nirun Fuwattananukul said its a "watershed moment" and will set the country up as Southeast Asia's digital economy leader. That’s one way to read it. Retail crypto payments remain banned by the central bank, and stablecoin use will remain restricted, but the government is dangling zero percent capital gains tax through 2029 on trades made on licensed domestic platforms.
Read more: Bangkok Post (Carbon Credits Angle), Tradersunion (Detailed Regulatory Process), Mexc (Market Integration Perspective), Bitcoin Magazine (ETF Development Plan), Decrypt (Policy Evolution Context)
Seventeen Visas Walk In, Seven Walk Out
The Cabinet approved a visa overhaul on February 10 that collapses 17 non-immigrant visa categories into seven by August 31, part of a package to try and lure more tourists, digital nomads, and retirees. The 60-day visa exemption for 93 countries that’s been running since July 2024 got formal reaffirmation, and the Destination Thailand Visa now covers remote workers and foreigners taking Thai boxing or cooking classes. The Non-Immigrant ED Plus lets foreign students work part-time, and officials are reworking retirement visa criteria to draw expats with deeper pockets. E-visa services are live at all 94 Thai embassies and consulates, and the Visa Policy Committee is back at work reviewing whether the 60-day program is being misused by people working illegally or using Thailand as a base for jobs in neighboring countries.
Read more: The Thaiger (economic context), Travelmole (policy depth), Visasnews (administrative details), Travel and Tour World (reform timeline)
AXA Wants Chinese Buyers Paying in Yuan
Krungthai AXA-Life is asking regulators to let foreign investors buy insurance policies in foreign currencies, particularly yuan, in an attempt to pull in Chinese money looking to diversify. The insurer's CEO, Knattapisit Krutkrongchai, the first Thai to hold the role, says low interest rates and slow growth are squeezing the industry, and cross-border capital could provide relief. The pitch is that Thailand's insurance penetration rate lags Singapore, Japan and Taiwan, leaving room to grow if Beijing's cash is able to pay the premiums.
Read more: Bangkok Post
Lunar New Year Wallets Open a Little Wider
Thais are expected to spend 54.2 billion baht over Lunar New Year, up 5% compared to last year and a six-year high, according to the University of the Thai Chamber of Commerce. A quarter of survey respondents expect a more upbeat celebration than last year, though more than half see the economy as worse than the same time a year ago. The modest bump comes as consumers wait (eagerly?) for the new government to roll out some much-needed stimulus.
Read more: Bangkok Post
That's all for this week, thanks for reading. Your voice matters to us. Feel we're missing something? Have additional sources to suggest? Don't hold back- hit reply and tell us what you think.
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