Economy News
Thailand economy news, business updates, financial markets, and government policies—stay informed on economic developments shaping the nation. Get the latest from The Thaiger, your trusted source for Thailand economic news.
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Sponsored Where to travel in Thailand in April [2025]
Travelling in Thailand is peak during April if you are looking for a real taste of summer. With high temperatures, amazing beaches, and exciting events, April is an amazing time to visit the country as a whole. Due to the...
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Milking it: ThaiBev pours 18 billion baht into dairy, drinks expansion
ThaiBev Group plans to invest 18 billion baht in 2025, more than doubling its annual investment, focusing on strengthening its non-alcoholic beverage and dairy businesses, including establishing a dairy farm in Malaysia. ThaiBev Group, led by CEO Thapana Sirivadhanabhakdi, announced a significant investment increase to 18 billion baht for the fiscal year 2025, which spans from October to September 2025.…
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Thai Airways to issue new shares worth 42 billion baht
Thai Airways International Plc (THAI) is set to issue new shares valued at a minimum of 42 billion baht by December, marking a significant move towards concluding its court-monitored debt restructuring and resuming trading on the Stock Exchange of Thailand (SET). The national airline plans to offer 6.81 billion new shares to creditors as part of a debt-to-equity swap, as…
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Thailand’s bold plan to regulate sex work sparks heated debate
Thailand Prime Minister Paetongtarn Shinawatra’s government is stirring up controversy with a proposal to develop an entertainment complex aimed at formalising underground businesses—sex work included. The plan is designed to bring these industries into the formal economy, making them taxable, and, in the long term, funding welfare programmes in education, public health, and infrastructure. But the proposal has ignited a…
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Lettuce pray: Market shoppers face steep prices ahead of Pattaya Vegetarian Festival
The Rai Vanasin Market in East Pattaya was buzzing with anticipation yesterday as eager shoppers scrambled to stock up on fresh produce for the upcoming Pattaya Vegetarian Festival, which kicks off today, October 2 and runs until October 12. However, as the crowds grew, so did the prices – with many vegetables seeing eye-watering surges just days before the festival…
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Thai baht surge hits exporters and tourism revenues
Thailand’s exporters and tourism sector are feeling the squeeze as a rapid appreciation of the Thai baht continues to impact revenue. The central bank attributed this surge to a weak US dollar and stronger regional currencies, such as the Chinese Yuan and Japanese Yen. Yesterday, September 30, the baht reached a 31-month peak at 32.235 against the US dollar, marking…
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PTT station to lower petrol prices, diesel remains unchanged
PTT Station will lower petrol prices today, while diesel prices remain unchanged. PTT Station announced a reduction in retail petrol prices by 30 satang per litre across all types of gasoline yesterday, September 30. This change will take effect from 5am today, October 1. Petrol prices will be adjusted as follows: gasoline will be 43.14 baht per litre, Gasohol 95…
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Finance ministry sees record revenue of 14.4 billion baht
The Ministry of Finance announced that the Treasury Department has achieved record-breaking revenue collection for the fiscal year 2024, amounting to 14.4 billion baht. This represents a 57.9% increase from the previous year and exceeds projections by 25.4%, marking the highest revenue since the department’s establishment on September 30, 1924. The Deputy Minister of Finance, Paophum Rojanasakul attributed this remarkable…
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Thailand’s local businesses get a global boost: It’s time to trade up
Strengthening Thailand’s local businesses to compete on the global stage could be a game-changing strategy for revitalising the national economy, according to Bank of Thailand Governor Sethaput Suthiwartnarueput. Sethaput is advocating for the implementation of “globally competitive localism,” a concept that leverages the strengths of local entrepreneurs, such as cultural assets, to create value-added products and services. This, he believes,…
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Thailand 7-Eleven stores now accept QR code payment
Shoppers, rejoice! Thailand’s 7-Eleven stores just made paying for your snacks and drinks easier with the introduction of PromptPay QR code payments. But while customers love the convenience, smaller grocery stores may be facing a fresh nightmare. 7-Eleven’s official Facebook page announced today the rollout of PromptPay, a move that left fans buzzing. “Tears are flowing #Consumers, what do you…
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Gen Z goes wild for Thailand’s ‘Mutelu’ faith economy
A new survey by Zanroo, a social media data expert, revealed that young Thais are leading the charge in an occult frenzy, racking up billions of engagements online. Zanroo’s study found that Gen Z, those aged 12 to 27, show the highest interest in Mutelu – a term derived from the Indonesian horror film Mutelu: Occult War. The word now…
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Gypsy cash dash: Phuket locals swarm ATMs for 10k baht handout
Hundreds of sea gypsies in Phuket flocked to ATMs at Laem Tukkae, Koh Sirey, Ratsada subdistrict on Wednesday, September 25, as part of the Thai government’s 10,000 baht handout scheme for vulnerable citizens. The scheme, aimed at state welfare cardholders and disabled individuals, is part of a broader economic stimulus programme. A national report noted that the sea gypsies, still…
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Mortgage growth in Thailand hits 23-year low at 1.2%
Kasikorn Research Center (K-Research) projects a mere 1.2% growth in mortgages within the commercial banking sector this year, marking the lowest expansion rate in 23 years. This subdued growth is largely due to the weakened purchasing power of potential homebuyers. According to Kanjana Chockpisansin, head of banking and financial sector research at K-Research, the second quarter of 2024 saw commercial…
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Recipients can use 10,000-baht handout to clear debts: Deputy PM
Recipients of the 10,000-baht handout are free to use the money as they see fit, including paying off debts, according to Deputy Prime Minister Phumtham Wechayachai. Phumtham addressed reports that many eligible individuals in the first phase of the scheme, which began yesterday, September 26, plan to use the funds to clear their debts. “They can use the money [to…
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Thailand aims to eradicate poverty in two years
Thailand aims to eradicate poverty and build a prosperous economy within the remainder of its term, an adviser to PM Paetongtarn Shinawatra revealed. With just over two years left in office, the 38 year old prime minister is determined to ensure that Thais can rise above poverty, stated Surapong Suebwonglee, deputy chairman of the five-member advisory panel appointed by PM Paetongtarn.…
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Bangkok delists more than 10,000 inactive companies
The Department of Business Development (DBD), under the Ministry of Commerce, announced the removal of 11,515 companies from the Bangkok business registry. The announcement, dated September 2 and 16, cited two primary reasons for this action. The first reason involves 8,420 companies that have not submitted their financial statements for three consecutive years, leading to the assumption that these companies…
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Thailand digital wallet handout falls short: Woman gets only 4,000
A Thai woman attempting to withdraw 10,000 baht for her father, as part of the Thai government’s digital wallet handout for vulnerable groups and people with disabilities, received only 4,000 baht, sparking suspicions of debt deductions by the bank. In Uthai Thani province, the government commenced disbursing 10,000 baht to vulnerable groups and those with disabilities. From early morning, recipients…
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Thailand starts 10,000-baht handout to 3 million needy individuals
Three million needy and disabled individuals in Thailand will receive the 10,000-baht handout under the government’s digital wallet programme today, announced Deputy Finance Minister Julapun Amornvivat. This initial rollout is part of a larger initiative aimed at aiding 14.5 million recipients in total. Due to limitations with the PromptPay payment system, only 3 million recipients can be processed initially. These funds…
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Thailand’s universal healthcare won’t ‘break the bank’ says minister
Thailand’s Ministry of Public Health remains confident that the universal healthcare programme will not face financial difficulties, according to Health Minister Somsak Thepsutin. The government has allocated a central budget of 5.9 billion baht for the scheme for the fiscal year ending September 30. Somsak provided this update following a National Health Security Board meeting, where participants discussed plans for…
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I’m hiring it: McDonald’s Thailand adds Texas Chicken crew to menu
McDonald’s Thailand is welcoming employees from Texas Chicken, which is set to close at the end of this month. Yesterday, September 23, McDonald’s Thailand’s Recruitment Facebook page posted a message specifically inviting Texas Chicken employees to apply for positions at McDonald’s, which operates over 230 branches across the country. “To our friends at Texas Chicken, we are saddened to hear…
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Commerce Ministry says pork prices are ‘bringing home the bacon’
The Thai Ministry of Commerce has addressed concerns raised by Commerce Minister Pichai Naripthaphan regarding the high cost of pork in Thailand compared to imported pork. This issue has led to significant expenses for consumers. Consequently, the ministry has instructed the Internal Trade Department to collaborate with relevant agencies to find solutions that balance and make the entire pricing chain fairer.…
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Freelancers in the frame: Thailand mulls welfare for all, even in the sex trade
The government is contemplating extending welfare protections to freelance workers, including those in the sex industry, akin to those available to employees registered with the Social Security Fund (SSF), contingent on their payment of income taxes. Tourism and Sports Minister Sorawong Thienthong revealed that discussions are underway with multiple agencies to establish a welfare system to safeguard freelance workers, including…
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Baht-boom: Thailand’s currency surge leaves tourism, exports short
Thailand’s baht is rocketing towards its biggest quarterly rise since the Asian financial crisis, a development that has key tourism and export industries clutching their pearls. Since the end of June, the baht has surged 10% against the dollar, its most significant gain since early 1998. This sudden leap has prompted frantic appeals from the tourism, hotel sectors, and business…
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Shoppers rush post-flood markets in Chiang Rai for bargains
Shoppers flocked to the Sai Lom Joi Market and Doi Wao Market in Chiang Rai‘s Mae Sai district to purchase discounted goods following the recent floodwaters receding. The bustling atmosphere saw a surge of visitors eager to take advantage of the low prices on offer. This annual post-flood shopping event has become a tradition for these border trade markets. Floodwaters…
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Southern Industrial Council opposes 400 baht minimum wage rise
The Southern Industrial Council opposes the proposed 400 baht minimum wage increase, advocating for region-specific adjustments instead. Businesses face high costs for electricity and oil, alongside competition from Chinese investments. Adisorn Tanaengchuan, President of the Southern Industrial Council and executive member of the Federation of Thai Industries (FTI), expressed concerns regarding the Labour Wage Committee’s meeting today to consider the…
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Malaysia and Cambodia launch cross-border QR payment system
Malaysia and Cambodia have collaboratively launched a cross-border quick response (QR) payment linkage, enabling consumers and merchants to conduct instant retail payments via mobile applications. This initiative, announced by Bank Negara Malaysia and the National Bank of Cambodia (NBC), aims to enhance the payment experience and expand market reach for over 5 million merchants in both countries, primarily small businesses.…
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Bangkok street vendors must be poor enough to operate: BMA
In a move that’s bound to shake up Bangkok’s bustling street food scene, new City Hall regulations will allow only “poor Thais” to operate as street vendors. The bold rules, signed by Bangkok Governor Chadchart Sittipunt, have sparked controversy with their stringent requirements, including a ban on migrant workers. Once published in the Royal Gazette, the new rules will go…
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UK signs pivotal trade and investment deal with Thailand
The United Kingdom government has finalised a significant trade and investment agreement with Thailand, marking the first such deal since the Labour government assumed office in July. Commerce Minister Pichai Naripthaphan and UK Trade Minister Douglas Alexander signed the enhanced trade partnership agreement in Bangkok yesterday, September 18. The deal seeks to eliminate specific trade barriers, focusing on sectors such as…
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Thailand banks could be forced to share hacking costs
Thailand’s Digital Economy and Society (DES) Minister Prasert Chantararuangthong has thrown his weight behind a groundbreaking proposal that could see commercial banks sharing the financial burden when their customers’ accounts are hacked. Prasert, who also serves as Deputy Prime Minister, publicly backed opposition MP Wiroj Lakkhanaadisorn’s suggestion during a heated House debate. Wiroj, from the People’s Party, argued that banks…
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Thailand Cabinet keeps VAT at 7% for another year
The Thailand Cabinet has decided to maintain the current value-added tax (VAT) rate at 7% for another year. This decision was announced by Jirayu Huangsub, an advisor to the Prime Minister of Thailand, at 12.40pm yesterday, September 17. The announcement follows a Cabinet meeting where the economic situation was discussed, especially concerning the VAT rate set to expire at the…
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National wage committee to finalise 400-baht minimum wage
Labour Minister Phiphat Ratchakitprakarn announced that the national wage committee will reconvene on Friday to discuss the implementation of a 400-baht minimum wage for large employers nationwide starting October 1. The tripartite committee, which includes representatives from employees, employers, and the government, met on Monday. However, all five employer representatives were absent, leaving only the 10 members from the employee…
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