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    Working in Thailand: How expat health insurance protects your career and lifestyle

    Starting a career in Thailand can be an exciting chapter, but it also brings unique challenges, especially when it comes to health and wellness. For expats, navigating Thailand’s healthcare system and meeting work permit requirements can be difficult. And while...

  • CPN predicts 20% retail sales surge due to Chinese New Year and tax scheme

    CPN predicts 20% retail sales surge due to Chinese New Year and tax scheme

    Central Pattana (CPN), a SET-listed firm, is forecasting a 20% surge in retail sales for the first quarter, attributing the anticipated boost to the Chinese New Year festival and the Thai government’s Easy E-Receipt scheme. The company predicts a cash flow of 15 billion baht across all Central shopping mall branches. Nattakit Tangpoonsinthana, the chief marketing officer of CPN, expressed…

  • JSCCIB urges BoT to cut high interest rates amid economic threats

    JSCCIB urges BoT to cut high interest rates amid economic threats

    As the economy grapples with internal and external threats, the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) called on the Bank of Thailand (BoT) to reduce interest rates. The high interest rates are causing a surge in borrowing costs, amidst a volatile recovery due to the global economic downturn. These views were expressed by Sanan Angubolkul, chairman of…

  • Innobic divests Alvogen Malta shares, refocuses on Asia-Pacific pharmaceutical market

    Innobic divests Alvogen Malta shares, refocuses on Asia-Pacific pharmaceutical market

    In a strategic move to refocus its pharmaceutical sector, Innobic (Asia) Co, the life sciences division of the PTT Plc national oil and gas conglomerate, has entirely divested its shares in Alvogen Malta (Out-licensing) Holding (AMOLH). The shares were acquired by Floki Holding Société à Responsibilité Limitée, a healthcare and pharmaceutical firm based in Luxembourg. The transaction is expected to…

  • BOI electric push: Thai circuit suppliers charged up with global incentives

    BOI electric push: Thai circuit suppliers charged up with global incentives

    Thailand’s Board of Investment (BOI) unleashed a wave of support and several incentives to catapult local electronic circuit suppliers onto the global stage. This commitment aligns with Thailand’s grand vision of becoming Southeast Asia’s electronic industry hub, focusing on the cutting-edge production of Printed Circuit Boards (PCB) and Printed Circuit Board Assembly (PCBA) – the lifeblood of all smart devices.…

  • Chinese tourists search for new experiences in Thailand

    Chinese tourists search for new experiences in Thailand

    Tourism Authority of Thailand (TAT) reveals that travel trends of Chinese tourists have shifted, no longer visiting Thailand in large tour groups. Data from the TAT and ATTA roadshow to China 2023 revealed a seismic shift towards independent and small-group travel, with groups of six to eight stealing the show. Nonglux Yooyendee, the director of TAT’s Shanghai office disclosed that…

  • Thailand to boost trade with India

    Thailand to boost trade with India

    The Commerce Ministry is joining forces with the government’s Team Thailand to boost economic growth by tapping into the vast potential of India. The aim is to boost exports to India by an impressive 4% this year. Deputy Commerce Minister Napintorn Srisunpang highlighted the allure of the Indian market, citing its robust economic growth, resilient domestic consumption, and active industrial activity.…

  • IMF predicts six top global economies in 2024 to be from Sub-Saharan Africa

    IMF predicts six top global economies in 2024 to be from Sub-Saharan Africa

    Six of the top-performing global economies in 2024 will be from Sub-Saharan Africa, predicts the International Monetary Fund (IMF). Despite the limited scale of these economies, they’re contributing positively to a region plagued by poverty and inequality. The economic growth of this region is set to rise from 3.3% in 2023 to 4% in 2024, with standout performances from Ivory…

  • Thailand’s exports predicted to see slight rise in 2024

    Thailand’s exports predicted to see slight rise in 2024

    The Thai National Shippers’ Council anticipates a slight upturn in Thailand’s exports, predicting an increase of 1%-2% for 2024, as per today’s disclosure. This estimate aligns with a prior forecast, underscoring the critical role exports play in the economic health of Southeast Asia’s second-largest economy. However, the current global demand climate has resulted in sluggish trade in recent times. Chaichan…

  • Oil prices dip over 1% due to Saudi cuts and increased Opec production

    Oil prices dip over 1% due to Saudi cuts and increased Opec production

    Oil prices experienced a significant drop today, with a decrease of over 1% due to the substantial price reductions introduced by Saudi Arabia, a leading exporter, coupled with an increase in the Organization of the Petroleum Exporting Countries (OPEC) production. These factors successfully counterbalanced concerns about the growing geopolitical tension in the Middle East. During early trading, Brent crude saw…

  • Srettha promises to save Thailand from fiscal chaos

    Srettha promises to save Thailand from fiscal chaos

    In a parliamentary revelation yesterday, January 5, Prime Minister Srettha Thavisin admitted that his government had inherited the controversial fiscal 2024 budget and was scrambling to make necessary improvements. Opposition MPs, particularly from the Democrat Party, unleashed a barrage of complaints, alleging unfair budget allocations that left southern provinces in the lurch. PM Srettha found himself in the hot seat…

  • Chon Buri: Essilor Thailand opens job applications with daily wage of 361 baht

    Chon Buri: Essilor Thailand opens job applications with daily wage of 361 baht

    Essilor Optical Laboratory (Thailand) Co., Ltd, located in the Amata Nakorn Industrial Estate, Chon Buri, announced openings for new employees. The announcement, posted on the Factory News page, describes the job as comfortable, with a good income, excellent benefits, excellent bonuses, and continuous overtime opportunities. The direct application process offers a wage of 361 baht per day, a shift allowance…

  • NESDC: China’s economic slowdown could have significant effect on Thailand

    NESDC: China’s economic slowdown could have significant effect on Thailand

    Thailand is on high alert as the National Economic and Social Development Council (NESDC) closely monitors the ripple effects of China’s economic deceleration. Despite initial projections, China’s sluggish growth last year has cast shadows over Thailand’s economic prospects for the coming year. NESDC’s chief, Danucha Pichayanan, predicts Thailand’s economic expansion in 2024 to hover between 2.7% and 3.7%, with a…

  • Rice-rumble rocks markets: Thailand anticipates 15% export dip, global repercussions loom

    Rice-rumble rocks markets: Thailand anticipates 15% export dip, global repercussions loom

    In a rice-rumble that could shake global markets, Thailand’s rice exports are poised to plunge by a staggering 15% this year. Thailand, the rice heavyweight, is set to face a double whammy. Chookiat Ophaswongse, the honorary president of the Thai Rice Exporters Association, predicts a dip in demand from Indonesia, last year’s top buyer. “Indonesia, after its presidential election next…

  • Thailand-China visa-free deal to boost Chinese tourist influx by 57%

    Thailand-China visa-free deal to boost Chinese tourist influx by 57%

    The visa-free arrangement between Thailand and China, effective from March 1, is predicted to cause a 57% surge in Chinese visitors this year, boosting the total foreign arrivals to 33 million. Analysts suggest this development offers an opportunity for investors to gradually accumulate travel stocks. Thai Prime Minister Srettha Thavisin announced the reciprocal visa-free scheme on Tuesday, January 2, following…

  • Commerce Ministry’s plan to catapult SMEs to 40% GDP by 2027

    Commerce Ministry’s plan to catapult SMEs to 40% GDP by 2027

    The Commerce Ministry unleashed an ambitious plan to elevate small and medium-sized enterprises (SMEs) to new heights, targeting a staggering 40% contribution to the GDP by 2027. A comprehensive strategy is set to turbocharge consumption, investment, government spending, and international trade, propelling SMEs into the forefront of economic prowess. Acknowledging the pivotal role SMEs play in Thailand’s economic fabric, Commerce…

  • Thailand’s Kra Isthmus Land Bridge promises economic boom for Penang Port

    Thailand’s Kra Isthmus Land Bridge promises economic boom for Penang Port

    Thailand is eyeing a colossal infrastructure project, a 90-kilometre land bridge across the Kra Isthmus, set to revolutionise maritime trade and shower economic benefits on ports in northern Peninsular Malaysia. Penang Port Sdn Bhd CEO V Sasedharan envisions this ambitious project as a potential game-changer, akin to the impact the Suez Canal had on Egyptian waterway-adjacent ports. The proposed land…

  • Phuket continues promotion as timeless destination to boost tourism

    Phuket continues promotion as timeless destination to boost tourism

    Championed by the Tourism Authority of Thailand‘s (TAT) local office, Phuket is set to continue its promotion as a timeless destination, void of an official low season. Director Lertchai Wangtrakuldee confirms this strategy following the significant triumph of last year when the resort province achieved its arrival and revenue targets ahead of schedule. By the end of November, the visitor…

  • Thailand ESG funds miss target but optimism remains for increased sales

    Thailand ESG funds miss target but optimism remains for increased sales

    Despite the Thai government’s target of 10 billion baht (US$290 million), Thailand ESG (TESG) funds only managed to reach sales of 5.2 billion baht (US$150 million) from December 8 to 28 in the previous year. The shortfall has been attributed to the brief sales period, although the Association of Investment Management Companies’ chairwoman, Chavinda Hanratanakool, acknowledged the funds’ popularity among…

  • Thai government to stimulate economy with digital wallet scheme

    Thai government to stimulate economy with digital wallet scheme

    The Thai government reaffirmed its commitment to launch the digital wallet scheme in May, a key policy of the ruling Pheu Thai Party. The scheme, financed by a 500 billion baht (US$14,518,005,000) loan, aims to inject 10,000 baht (US$290) into the digital wallet of every Thai citizen aged 16 and above as a means to stimulate the economy. The government…

  • Thailand PM urges cautious monetary policy amid economic recovery

    Thailand PM urges cautious monetary policy amid economic recovery

    Prime Minister Srettha Thavisin urges the Bank of Thailand to consider the potential risks to the country’s delicate economic recovery when making decisions regarding monetary policy. He expressed concern that the decade-high borrowing costs, currently standing at 2.5%, could potentially impede the nation’s economic revival and affect the populace adversely. During a parliamentary budget debate, PM Srettha revealed that the…

  • Thailand’s delayed 2024 budget bill presented in Parliament

    Thailand’s delayed 2024 budget bill presented in Parliament

    The delayed budget bill for this year, amounting to 3.48 trillion baht (US$101.52 billion), was presented today by Prime Minister and Finance Minister Srettha Thavisin in the House of Representatives. This event marked the start of a three-day debate among lawmakers. PM Srettha emphasised the importance of the budget to Parliament. “The budget is crucial in moving the economy forward.”…

  • Essential ascent: Despite fiscal twists, analysts predict vital goods to drive economic lift-off

    Essential ascent: Despite fiscal twists, analysts predict vital goods to drive economic lift-off

    Despite the financial rollercoaster, essential goods are set to expand. Analysts declare that essential goods will help boost the economy. The Thai Chamber of Commerce’s recent survey predicts a 1.5% dip in purchasing power, attributed to escalating interest rates, inflation, and the lingering pandemic hangover. Undeterred, consumers are rallying around staples like food, beverages, personal care products, household items, and…

  • Thailand’s triumph and tribulations: OECD report urges bold reforms

    Thailand’s triumph and tribulations: OECD report urges bold reforms

    Thailand has made good economic recovery post-pandemic, with tourism as a major boost, however, a recent report from the Organisation for Co-operation and Development (OECD) highlights the need for bold reforms to solidify and extend this triumph. The second OECD Economic Survey of Thailand commends the nation for averting a severe economic downturn during the pandemic, crediting robust fiscal support.…

  • Export of Thai fruit faces competition from China

    Export of Thai fruit faces competition from China

    Deputy Commerce Minister Napintorn Srisunpang reveals a bumpy road ahead, with China’s market becoming a fierce battleground for Thai fruit exporters. In the opening 10 months of last year, Thailand exported 1.74 million tons of fruits, pocketing 174.27 billion baht. Thailand’s fruit royalty, including durians, longans, mangosteens, mangoes, and pineapples, dazzled the export scene. However, trouble lurks in the dragon’s…

  • Thailand and China to implement mutual visa-free travel from March

    Thailand and China to implement mutual visa-free travel from March

    Beginning in March, Thailand and China will roll out a mutual visa-free agreement. This arrangement means that citizens from both countries will not need to apply for visas when travelling to the other country. The scheme was announced by Prime Minister Srettha Thavisin after a Cabinet meeting, and it will take effect from the first day of March. The initiative…

  • Thailand mulls tax-free local alcohol to boost economy and tourism

    Thailand mulls tax-free local alcohol to boost economy and tourism

    A breaking development unfolded at 10.10am yesterday, January 2, with Thai Prime Minister Srettha Thavisin making a significant announcement after a Cabinet meeting centred on boosting international tourism and the national economy. The Thai government is contemplating overhauling the excise taxes and duties structures, with an eye on making Thai local alcoholic beverages tax-free and prompting a review of related…

  • Thai government cuts local alcohol tax to zero to boost tourism and economy

    Thai government cuts local alcohol tax to zero to boost tourism and economy

    The Thai government has announced a tax reduction on local alcohol as part of a wider review of laws hindering domestic tourism and economic growth. Revealed on January 2 at the Government House, Prime Minister Settha Thavisin stated that the restructuring of excise and various national taxes, including reducing domestic alcohol tax to 0%, formed part of their strategy to…

  • Thailand’s economy braces for slow growth

    Thailand’s economy braces for slow growth

    Thailand’s economy is set to experience slow growth in the coming years, with GDP forecasts for this year ranging between 3-3.4%. Several factors, including sluggish growth in exports, subdued Chinese demand for consumption and tourism, geopolitical risks, and a shortage of skilled workers, are expected to influence this. Despite these challenges, industry executives are optimistic and are devising strategies to…

  • Gold prices predicted to hit record highs by 2024, says MTS Gold

    Gold prices predicted to hit record highs by 2024, says MTS Gold

    MTS Gold, a local trader, predicted that gold prices are likely to skyrocket to new record levels of over 79,005 baht (US$2,300) per ounce and beyond 40,000 baht (US$1,164) per baht weight by this year. This forecast comes amidst anticipated adverse global economic situations. Kritcharat Hiranyasiri, the President of MTS Gold, explained that the anticipated decline in interest rates and…

  • Thai investors anticipate surge in depositary receipts popularity in 2024

    Thai investors anticipate surge in depositary receipts popularity in 2024

    Executives anticipate a surge in the popularity of depositary receipts (DRs) among Thai investors this year, with the investment tool offering a gateway to high-profile foreign stocks, risk diversification, and potential high returns. As they have become more prevalent on the Thai bourse, investors held DRs worth around 16 billion baht (US$466 million) on the Stock Exchange of Thailand (SET)…