World

Thailand launches first phase of "digital wallet" scheme

The Thai government on September 25 kicked off the first phase of a 14 billion USD digital wallet scheme that aims to stimulate the economy.

A view of the Bhumibol bridge (left) over the Chao Phraya river and an under-construction high-rise building (right) in the backdrop of Bangkok's skyline. (Photo: AFP)
A view of the Bhumibol bridge (left) over the Chao Phraya river and an under-construction high-rise building (right) in the backdrop of Bangkok's skyline. (Photo: AFP)

Hanoi (VNA) - The Thai government on September 25 kicked off the first phase of a 14 billion USD digital wallet scheme that aims to stimulate the economy.

The initial phase will see 10,000 THB (about 295 USD) distributed in cash to 14.5 million welfare card holders and disabled people, and is expected to be complete by the end of the month.

Speaking at an event to mark the start of the programme, Prime Minister Paetongtarn Shinawatra said that giving money to people will create a tornado of spending, adding that there will be more stimulus measures and the "digital wallet" policy will be continued.

The "digital wallet" programme is considered the foundation of the plan to revive the country's economy, which grew only 2.3% in the second quarter of 2024. The earlier-than-expected rollout reflects the new government’s determination to boost economic recovery. The “digital wallet” programme was initially structured to distribute the funds through a smartphone app with the money to be spent in local communities within six months.

Southeast Asia's second-largest economy is forecast to grow 2.6% in 2024, up from 1.9% last year./.

VNA
#digital wallet scheme#Thailand#smartphone app#welfare card holders
Follow VietnamPlus

Related News

Illustrative image (Photo: https://www.nationthailand.com/)

Thailand to develop first silicon chip plant

The Thailand Board of Investment (BOI) has announced a joint venture between Hana Microelectronics and Thai energy firm PTT to construct the first silicon carbide chip factory in the country.

See more

At Pulau Seraya power station (Photo: Straitimes)

Singapore begins construction on hydrogen-fueled power plant

Singapore on October 23 began the construction of an 800 million USD power plant that has the capability to use hydrogen to generate electricity, as part of a push to utilise the fuel to reach Singapore’s net-zero carbon emissions target by 2050.

Delegates at the event (Photo: VNA)

125th anniversary of Permanent Court of Arbitration celebrated

The Permanent Mission of Vietnam to the United Nations and missions of the Philippines, Australia, Egypt, Guatemala, Hungary, Thailand, France, Eritrea and Austria, organised a ceremony on October 22 to celebrate the 125th anniversary of the Permanent Court of Arbitration (PCA), as part of the International Law Week at the UN General Assembly's Legal Committee (Sixth Committee).

CEO of the Malaysia Digital Economy Corporation Anuar Fariz Fadzil (Photo: focusmalaysia.my)

Malaysia continues placing emphasis on digitalisation

The Budget 2025 provides significant support to further accelerate Malaysia’s digitalisation, encourage adoption of artificial intelligence (AI) and drive inclusive growth, further positioning Malaysia as a leading digital hub within the ASEAN region, according to CEO of the Malaysia Digital Economy Corporation (MDEC) Anuar Fariz Fadzil.

Malaysia's economic reforms boost investment inflow (Photo: thestar.com.my)

Malaysia's economic reforms boost investment inflow

Malaysia has attracted substantial foreign investments, reaching 22.2 billion MYR (5.16 billion USD) in the third quarter of 2024, the highest level for the same period since 2012, according to UOB's Global Markets and Economics report.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN speaks at the debate (Photo: VNA)

Maintaining peace, stability a must for progress on human rights: Ambassador

Progress in human rights can only be achieved by maintaining peace and stability, respecting the rule of law at both the international and national levels, and ensuring respect for the principles of national sovereignty and non-interference in internal affairs, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN.

A visitor browses travel promotions at a travel fair in Nonthaburi province. (Photo: Bangkok Post)

Thailand plans enhanced support for domestic tourism

Thailand’s Ministry of Tourism and Sports is aiming to increase subsidy to local tourists in the upcoming stimulus scheme to 50% and would like to change the criteria for online travel agents, mandating them to register in Thailand to avoid losing income to foreign companies.

Oil field offshore Indonesia. (Photo: thejakartapost.com)

Indonesia begins major oil, gas exploration in Sulawesi

Indonesia's state-owned oil company Pertamina, along with foreign partners Sinopec from China and Kuwait’s Kufpec, has signed a contract to explore the Melati oil and gas block, located off the coast of Sulawesi. The block is estimated to contain trillions of cubic feet of gas reserves.