Business News
Stay abreast of the ever-changing Business News in Thailand through our comprehensive coverage of local and international business events, market trends, and economic updates. We provide reliable analysis, in-depth features, and expert insights on the most relevant business stories, including issues affecting Thailand’s stock market, foreign investment, and entrepreneurship. Track the business world’s pulse as we inform you of crucial developments shaping Thailand’s economic landscape.
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Sponsored What to do in a medical emergency as an expat in Thailand
Handling a medical emergency in Thailand as an expat can be difficult without the right information. This guide explains what to do in a medical emergency, including important contact numbers, the differences between public and private hospitals, how to deal...
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Thailand tops as dream destination for Southeast Asian travellers
Thailand has emerged as the top dream destination for Southeast Asian travellers, as revealed by Grab’s SEA Travel Insights 2024 report. Chantsuda Thananitayaudom, senior director of commercial and marketing at Grab Thailand, highlighted the importance of Southeast Asian tourists to Thailand’s tourism industry. In 2024, Thailand welcomed over 10.6 million travellers from Southeast Asia, representing 30% of its international arrivals.…
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MK Group goes MongKol: Thai hotpot chain’s CNY rebrand
In a sizzling marketing twist, Thailand’s leading Suki restaurant chain, MK Group, embraces the cultural phenomenon of “muketing” by rebranding four Bangkok branches to “MongKol” restaurants just in time for Chinese New Year. Muketing, a fusion of marketing and the Thai term mutelu (beliefs and superstitions), integrates lucky symbols, colours, and auspicious timings into business strategies. MK Group’s new MongKol branding,…
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Three million Thai elderly to receive 10,000 baht cash handout
Approximately three million elderly people are set to receive 10,000 baht (US$293) each as part of the second phase of the government’s cash handout initiative, according to Deputy Finance Minister Paopoom Rojanasakul. Paopoom indicated that a recent review identified 3.04 million elderly people 60 years old and over as eligible for the scheme. However, it is estimated that around 20,000…
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Trump card: Gold prices set to shine amid US policy jitters
Gold prices are predicted to rise by over 6% in the coming three months following Donald Trump’s inauguration as US President, due to uncertainties surrounding US economic and political policies, according to local traders. Hua Seng Heng Gold Futures (HGF) forecasts a 6.38% increase in gold prices within the first three months of Trump’s administration and a 3.3% rise over…
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Thailand bets big on casino boom under entertainment banner
In a daring move set to shake up the Land of Smiles, the Government of Thailand is pushing forward with a controversial plan to legalise casinos, sneakily packaged as entertainment complexes. This bold move comes hot on the heels of outspoken former premier Thaksin Shinawatra’s call to legalise online gambling, promising a windfall of tax revenue. Now, the Digital Economy…
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PTT Plc shifts gears: Oil giant explores new horizons
PTT Plc, Thailand’s oil and gas giant, is re-evaluating its tactics in the logistics sector, contemplating a shift away from its traditional petroleum roots. The national conglomerate is investigating fresh investment avenues in non-oil sectors, aiming to revamp its business footprint in the rapidly advancing world of logistics. Leading the charge is Chaya Chandavasu, PTT Senior Executive Vice-President for Corporate…
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Red light: Thailand’s car industry caught in hybrid dilemma
Thailand’s car production industry, a powerhouse of the national economy, stands at a pivotal red light crossroads. The decision now looms large: should the focus be on propelling battery electric vehicles (BEVs) into the spotlight, or should there be a concerted effort to guide the internal combustion engine (ICE) sector through a transitional phase towards electric vehicles (EVs)? With the…
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Thaksin’s power tariff cut plan sparks debate on electricity pricing
Thaksin Shinawatra‘s proposal to lower the power tariff from 4.15 to 3.70 baht per kilowatt-hour has ignited a discussion on the future of electricity pricing, which has remained elevated since 2022. The adjustment of tariff rates directly impacts electricity bills, with a reduced tariff leading to lower costs for businesses and households. The former prime minister introduced the tariff reduction…
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Thai rice exporter says policy changes are grain-ing momentum
A seasoned Thai rice exporter expressed support for upcoming changes in rice trade policy, anticipated to be enacted later this month, though he highlighted that small businesses still encounter significant obstacles in entering international markets. After the first meeting of the Operational Committee under the 1946 Rice Trading Act (Session 1/2025), Commerce Minister Pichai Naripthaphan announced that the committee had…
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Call it off: Thai telecom giants reject merger offers on the line
Shareholders of Thai telecom mobile carriers, Advanced Info Service (AIS) and Thaicom, have been advised to hang up on acquisition offers from their controlling entities. The boards are urging a firm “no” to the merger plans proposed by Gulf Energy Development and Intouch Holdings. Back in July, Gulf Energy, the powerhouse investor behind Thaicom, and Intouch Holdings, which calls the…
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Rising sun eclipses Thailand: Japan now No.1 for Chinese tourists
Japan has dethroned Thailand as the top destination for Chinese tourists in a stunning reversal of fortunes. A remarkable surge in visitors last year sent Thailand scrambling to refocus its tourism strategy across other Asian markets. According to the Japan National Tourism Organisation, Japan welcomed a whopping 6.98 million Chinese tourists in 2024, a staggering 188% increase. Meanwhile, Thailand’s Tourism…
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Thailand banks on foreign investment to power economic surge
Bangkok Bank remains bullish on a surge in foreign direct investment (FDI) into Thailand, anticipating it will turbocharge the nation’s economy in the coming years despite global uncertainties. At the 2025 ASEAN Business Forum helmed by the bank last Thursday, Bangkok Bank President Chartsiri Sophonpanich unveiled striking figures: Thailand’s investment applications soared by 35% in 2024, hitting a decade peak…
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Trump card for bitcoin: 2025’s super cycle sparks crypto buzz
Crypto analysts are buzzing with excitement at the prospect of a bitcoin “super cycle” in 2025, as Donald Trump‘s return to the US Presidency brings a pro-crypto windfall. His administration’s staunch support for Bitcoin is injecting new life into the market, with enthusiasts riding high on optimism. Bitcoin recently dipped from its late-2024 peak amid profit-taking and cautious interest rate…
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Tax cuts with a twist: SEZ businesses get a decade of ten-percenters
The Revenue Department is slashing corporate income tax to just 10% for businesses nestled in Thailand’s special economic zones (SEZs) for the next ten years in a stunning financial manoeuvre. The move, designed to inject life into these strategically positioned areas, is set to give them a major boost. Director General Pinsai Suraswadi revealed that this game-changing tax cut received…
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Retail therapy: Tops looks for Lunar New Year discounts, tourists
Central Food Retail Co., (CFR), the powerhouse behind Tops grocery stores, is banking on a flurry of government stimulus and a tourism boom to set tills ringing as the Lunar New Year approaches. Chakkit Chatupanyachotikul, the marketing maestro at CFR, is upbeat about the impact of the government’s Easy E-receipt tax deduction scheme, a nifty initiative running from January 16…
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Driving Thailand’s economy into the high-tech fast lane
In a bid to supercharge Thailand’s sputtering economy, Industry Minister Akanat Promphan is rallying the manufacturing sector to shift gears and embrace high-tech innovation. With aspirations to increase GDP growth by 1% annually, Akanat is touting cutting-edge products as the next big play, given the triple threat of tech disruptions, geopolitical spats, and looming climate change. Since the pandemic, Thailand’s…
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Thailand’s nuclear power plan delayed amid policy uncertainties
Thailand is preparing for the integration of nuclear power technology but the implementation of the new power development plan (PDP) for small modular reactors (SMRs) is experiencing delays. The PDP, effective from 2024 to 2037, has yet to be enforced, involving collaboration between the Energy Regulatory Commission and the Office of Atoms for Peace on nuclear power and electricity management. SMRs,…
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Thailand sees record investment surge, driven by digital sector boom
Investments in Thailand are projected to increase this year, following a 35% rise in investment incentive applications, reaching 1.14 trillion baht (US$32.8 billion) last year. This marks the highest level since 2014, driven by substantial foreign direct investment (FDI) projects in data centres and cloud services, according to the Board of Investment (BoI). For the first time in 2024, the…
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Chinese tourists cancel Thailand trips amid safety concerns
Hotels and airlines are experiencing widespread cancellations from Chinese tour groups ahead of the Chinese New Year holiday, with independent tourist bookings also slowing due to safety concerns in Thailand. Eason Chan, a singer and actor from Hong Kong, cancelled a planned concert in Thailand last week, citing safety concerns for Chinese fans visiting the country. Additionally, Hong Kong’s Security…
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Thailand bets on man-made marvels for tourism cash boost
According to insiders at Krungthai Compass, man-made hotspots, from sports hubs to spectacular events, are set to propel Thailand to the brink of a tourism revolution thanks to a bold new strategy. Thailand is banking on an artificial allure to supercharge its tourism engine, with Krungthai Compass, a top research centre under Krungthai Bank, revealing that new, man-made tourist attractions…
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Taxing tunes: Music giant pitches cut to boost Thailand’s soft power
Thailand’s largest music company made a bold appeal to the government for a corporate tax reduction in the entertainment sector, arguing it could supercharge the industry and bolster the nation’s soft power ambitions. GMM Music Plc CEO Phawit Chitrakorn paints a picture of an industry that thrives on slim profit margins, clocking in at a modest average of 10%. Phawit…
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Central Pattana’s 500 million baht Chinese New Year splash
Central Pattana Plc (CPN) isn’t playing small this Chinese New Year as they, together with Central Department Store Co Ltd (CDS), unleash a mega 500-million-baht spending spree on their dazzling The Great Chinese New Year bash. Running from now until February 6, this vibrant celebration is expected to dazzle at Central malls nationwide, including the ever-busy Esplanade Ratchada. Leading the…
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Fuel for thought: Thailand sees shift in consumer petrol gears
Thailand’s engines are revving as fuel consumption takes a notable 2% leap, in line with the country’s economic growth, which is pegged at a healthy 2.6% to 2.7% for 2024. The Department of Energy Business reveals that from January to November, Thais guzzled an average of 155 million litres of fuel daily. Turning heads in the petrol station queue is…
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Casino kingpins eye Thailand: Melco’s big gamble on Bangkok
Macau gambling giant Melco Resorts & Entertainment is rolling the dice on Thailand, as they devise plans to dive headfirst into the country’s booming tourism scene and cultural tapestry. With whispers of legalised gambling on the horizon, this move could be a jackpot for the casino giants. At the helm, Lawrence Ho, Melco Chairman and CEO, is singing the praises…
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Shipping a car from the US to Thailand: Regulations and costs explained
Shipping a car from the USA to Thailand may sound like a straightforward task, but it can quickly become a maze of regulations, fees, and paperwork that might leave you feeling overwhelmed. Whether you’re relocating or just want to take your favourite vehicle along for the ride, making sure you understand the basics before diving in is crucial. Picture this:…
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Taxing times: Thailand cashes in on digital currency revolution
Finance Minister Pichai Chunhavajira has committed to comprehensive tax reform aimed at enhancing Thailand’s competitiveness and promoting the use of digital currency by the end of the year. During a seminar organised by the Marketing Association of Thailand, Pichai explained that the ministry’s strategy involves fostering business partnerships through incentives and attractive measures. He emphasised the necessity of revising the…
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Thailand’s household debt reaches 104% of GDP, raising economic concerns
Thailand’s household debt, encompassing informal loans, has risen to 104% of GDP, potentially impacting future economic growth, as revealed by a private sector panel report. Research conducted by Chulalongkorn University for the Joint Standing Committee for Commerce, Industry and Banking (JSCCIB) shows the country’s household debt-to-GDP ratio reached 104% in the fourth quarter of 2024, with informal loans included in…
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Cabinet approves 3.78 trillion baht budget for 2026 fiscal year
The Thai Cabinet has sanctioned a 3.78 trillion baht (US$109 billion) budget for the 2026 fiscal year, alongside soft loans to assist small enterprises, as announced by officials yesterday, January 7. The budget, which includes an 860 billion baht (US$24. billion) deficit, is designed to invigorate the economy, according to Deputy Finance Minister Julapun Amornvivat. In the previous month, the…
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Mama mia! Noodle giant stirs up billion-baht expansion plan
Thai President Foods Plc, famed for its beloved Mama instant noodles, is cooking up a major expansion plan worth over 1 billion baht. This bold move aims to ramp up production and expand plant facilities within the year. General Manager Pun Paniangvait unveiled that a hefty 777 million baht will be channelled into domestic enhancements. This budget will power the…
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Gold rush hour: Steady prices spark buyer frenzy in Thailand
Today’s gold prices in Thailand hold steady, sparking a sense of urgency among potential buyers. According to the Gold Traders Association (GTA), gold jewellery is priced at 43,650 baht per baht weight, mirroring closing figures yesterday, January 5. As announced at 9am today, 96.5% pure gold bullion is being bought at 43,050 baht per baht weight and sold at 43,150…
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