Business News
Thailand business news, market trends, foreign investment, and economic updates—stay informed on stock market movements, entrepreneurship, and key developments shaping the economy. Get the latest from The Thaiger, your trusted source for business news in Thailand.
-
Sponsored Do foreigners get free healthcare in Thailand?
Thailand’s healthcare system is well-regarded across Southeast Asia, with options ranging from public hospitals to world-class private facilities. But when it comes to foreign residents or tourists, healthcare access isn’t as straightforward. So, do foreigners get free healthcare in Thailand?...
-
Zen Corp and CPF launch ready-to-eat Tummour meal at 7-Eleven stores
If you visit 7-eleven a lot in Thailand, there’s good news for you. Zen Corporation Plc, known for operating restaurant chains such as Zen, AKA, and Tummour, has announced its expansion into the ready-to-eat meal market in a bid to strengthen its long-term business prospects. The company’s chief commercial officer for Thai brands, Siruwat Chatchawan, disclosed that Zen Corporation has…
-
SCB-Julius Baer launches 45 Academia programme for Thai business heirs
In Thailand, there’s a new academic programme for business heirs. SCB-Julius Baer Securities, a joint venture between Siam Commercial Bank and Julius Baer, has introduced The 45 Academia programme as part of its New Wave of Wealth strategy. This initiative aims to nurture the future leaders of wealth management by offering comprehensive training for business heirs in Thailand. The 45…
-
TCEB seeks global support for Phuket to host Specialised Expo 2028
As the Thailand Convention and Exhibition Bureau (TCEB) prepares for its final presentation to the Bureau International des Expositions (BIE) next week, it continues to seek support for Phuket’s bid to host the Specialised Expo 2028. Over the past three years, TCEB has been working with Thai stakeholders and BIE member states to garner votes for Phuket as the host…
-
CPF targets 7-8% revenue growth, eyes Philippines animal feed sector
The leading food and agribusiness conglomerate Charoen Pokphand Foods (CPF) anticipates a 7 to 8% increase in total revenue to 610 to 620 billion baht this year, primarily due to contributions from its international business, with a focus on the growing animal feed sector in the Philippines. CPF’s chief executive, Prasit Boonduangprasert, stated that the company has been investing in pork,…
-
Japanese investors seek Thai tech startups for regional expansion
Thai tech startups have caught the attention of Japanese investors, who are keen to support their expansion into regional markets, according to an executive at Bank of Ayudhya (Krungsri). Southeast Asia, and Thailand in particular, are considered prime investment locations for Japanese investors, who see potential in the country’s high-growth tech startups. Bunsei Okubo, head of Japanese corporate and multinational…
-
Bitkub’s bumpy ride: Thailand’s leading crypto exchange parent company sees sharp revenue decline amid market downturn
Bitkub Online (BO), the parent company of Thailand’s top cryptocurrency exchange Bitkub, experienced a 48% year-on-year drop in revenue last year, attributed to the downturn in the crypto market. Client investments also saw a significant 65% decline compared to the previous year. The financial statement published on BO’s website revealed a net profit of 341 million baht in 2022, marking…
-
Thailand banks team up for digital revolution: Collaboration to launch retail CBDC
The Bank of Thailand is collaborating with three payment service providers, Bank of Ayudhya (Krungsri), Siam Commercial Bank (SCB), and 2C2P (Thailand) Co, to develop and launch its retail central bank digital currency (CBDC). The new financial infrastructure aims to enhance the convenience and efficiency of financial transactions while reducing costs. The testing of the retail CBDC is scheduled to…
-
Chevron Thailand’s gas game-changer: Boosting domestic supply and breaking free from costly imports
Chevron Thailand Exploration and Production aims to boost domestic gas supply to reduce the Thai government’s reliance on costly liquefied natural gas (LNG) imports, with plans to increase petroleum production in the Gulf of Thailand. The US-based company was granted a licence to explore and produce petroleum at Block G2/65, an area of 15,030 square kilometres in the gulf, under…
-
Impact of higher interest rates on Thai businesses and homebuyers
Concerns are rising among industry leaders that higher interest rates could negatively impact businesses, particularly small ones, and weaken the purchasing power of homebuyers. The Bank of Thailand’s Monetary Policy Committee recently voted to raise the policy rate to 2.00% from 1.75%, prompting state and private banks to follow suit. The Federation of Thai Industries (FTI) warns that higher interest…
-
Thailand urged to boost beauty and wellness market for long-term growth
Thailand’s new coalition government is being encouraged to adopt a consistent policy to support the nation’s beauty and wellness market over an extended period. Ketmanee Lertkitcha, the chairwoman of the health, wellness and beauty industry cluster of the Federation of Thai Industries, highlighted the need for a national strategy to promote this sector, which, along with tourism, plays a crucial…
-
Thailand’s NBTC mulls supervision of OTT platforms for fair telecoms
The National Broadcasting and Telecommunications Commission (NBTC) is weighing the potential regulation of over-the-top (OTT) platforms in Thailand to create a level playing field and ensure equal treatment in the telecom sector. Despite major foreign OTT platform providers having established operations offices in Thailand and adhering to value-added tax (VAT) payment rules, the regulator is contemplating whether these operators should…
-
Binance.US drops dollar trading amid banking partners’ withdrawal
Binance.US, the American subsidiary of the world’s largest cryptocurrency exchange, announced that it will cease offering trading services in United States dollars. This decision comes after the company’s banking partners withdrew support due to pressure from federal regulators. The inability to trade in US dollars is a significant setback for Binance.US, as one of the primary functions of a cryptocurrency…
-
Thai firms eye investment deals in Saudi Arabia
Thailand and Saudi Arabia are forging strong economic ties, with several collaboration deals in progress. Sanan Angubolkul, chairman of the Thai Chamber of Commerce, recently visited Saudi Arabia with a Thai delegation led by Foreign Minister Don Pramudwinai. During the visit, it was announced that PTT Oil and Retail Business Plc (OR) plans to establish petrol stations in Saudi Arabia,…
-
Thai air-con component exports to US soar amid heat wave surge
Rising heat waves in the United States have driven a surge in Thailand’s exports of air-conditioner components during the first quarter. The increase in demand has led to air-conditioner parts becoming the top product category benefiting from the generalised system of preferences (GSP) privileges awarded by the US. The Foreign Trade Department reported that Thai exporters utilised GSP privileges worth…
-
Hong Kong’s legal ambiguity risks eroding foreign business confidence
Hong Kong’s legal ambiguity surrounding the June 4 anniversary of the 1989 Tiananmen Square crackdown has raised concerns among the city’s foreign business community. The government’s unwillingness to clarify the legal status of the commemorations, which are now deemed illegal under the Beijing-imposed national security law (NSL), is causing unease among companies who have long valued the British-inherited legal system…
-
90% Thai employees seek new jobs despite bleak economy
A significant majority of Thai workers are open to exploring new job opportunities despite an uncertain global economic climate, a recent study by recruitment firm Michael Page has found. The Talent Trends report, which surveyed 942 individuals in Thailand, revealed that over half of the respondents are actively seeking or planning to find new employment within the next six months.…
-
Thai consumer confidence hits highest level since March 2020
Consumer confidence in Thailand reached its highest level since March 2020, with a 12th consecutive monthly increase in May. The University of the Thai Chamber of Commerce (UTCC) reported that the consumer confidence index rose to 55.07 in May, up from 55 in April. Factors contributing to this increase include a recovering economy, a resilient tourism sector, and political campaigns…
-
Thailand boosts tourism budget to 5 billion baht
The Tourism Authority of Thailand (TAT) announced its plans for the fiscal year 2024, with a focus on growing off-peak customers, increasing spending per trip by 7%, and distributing income to a wider range of destinations. The budget for these initiatives is set at 5 billion baht, a significant increase from the 3.25 billion baht allocated for fiscal 2023. TAT Governor…
-
Saudi wealth fund takes over clubs, lures football stars
Next season, Saudi Arabia’s football league will feature some of the sport’s top players, including Cristiano Ronaldo, Karim Benzema, and N’Golo Kante. The Saudi Professional League (SPL) is set to commence in August, and more high-profile signings are anticipated. In addition to these transfers, the kingdom’s sovereign wealth fund, the Public Investment Fund (PIF), overseen by Crown Prince Mohammed bin…
-
Bank of Thailand continues interest rate normalisation amid new government
The Bank of Thailand has stated that the formation of a new government will not impact its decision to raise interest rates further. The central bank’s deputy governor, Mathee Supapongse, emphasised the need for the bank to maintain a separate view from elected officials, with the aim of continuing to normalise interest rates. “Despite recent increases, Thai interest rates are…
-
SEC offers guidance for investors amid Stark’s potential bond default
The Securities and Exchange Commission (SEC) has issued guidelines for investors as Stark Corporation faces the possibility of defaulting on bond payments worth nearly 9.2 billion baht. The SEC has emphasised that investing in debt securities carries high risks and that investors could lose both principal and interest. The guidelines aim to clarify the roles and functions of bond representatives…
-
Asia-Pacific aviation recovery boosted by China’s early reopening
Asia-Pacific aviation is set for a gradual recovery this year, with the International Air Transport Association (IATA) citing China’s earlier-than-expected reopening as a significant boost for the industry. Philip Goh, IATA’s Vice-President for Asia-Pacific, noted that revenue passenger kilometres (RPK) for the region in April reached 82% of the corresponding period in 2019. Domestic RPK has already surpassed 2019 levels,…
-
Thai GDP growth at risk as new government formation faces delays
Concerns are rising within the private sector as the potential delay in the formation of Thailand’s new government could lead to a decline in the country’s GDP growth to 1-2%. Kriengkrai Thiennukul, chairman of the Federation of Thai Industries, stated that the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) is closely monitoring the political situation. A new government…
-
Japan data centre providers invest US$164m in Thailand expansion
Thailand has seen a significant influx of investment from data centre providers, with two Japan-based companies investing a combined US$164 million in the country. This comes as digital transformation and cloud computing continue to grow exponentially. Telehouse recently launched its first Thai data centre, investing US$74 million in the project. Meanwhile, NTT invested 3 billion baht through its subsidiary, NTT…
-
TKC partners with European firms for Thai smart city and building projects
Turnkey Communication Services (TKC), a digital solutions provider listed on the Stock Exchange of Thailand, has announced a partnership with three European tech companies to develop smart buildings and smart cities in Thailand. This collaboration supports the Thai government’s digital transformation roadmap and aims to deliver integrated solutions for people flow management systems, using 3D sensors and artificial intelligence (AI)…
-
Thai economy could face 36 billion baht hit from extreme weather
Extreme weather conditions, including drought and floods, could potentially inflict a 36 billion baht blow to Thailand‘s economy this year, warns the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB). Drought, in particular, is a significant concern as it may severely affect the agricultural and manufacturing sectors, further hindering the country’s already sluggish exports. “Manufacturers are worried about drought…
-
Thai state banks raise interest rates after central bank policy hike
Following the Bank of Thailand‘s recent policy rate increase, state banks, including the Government Savings Bank (GSB) and the Bank for Agriculture and Agricultural Cooperatives (BAAC), have raised interest rates for loans and deposits, with deposit rates exceeding loan rates. Vitai Ratanakorn, GSB’s president and chief executive, stated that after the central bank’s policy rate increased by a quarter percentage…
-
Japanese startup Exit outsources resignations, easing employee guilt
In Japan, a unique startup named Exit has emerged, offering employees a way to resign from their jobs without facing their bosses directly. Exit, founded by Toshiyuki Niino and Yuichiro Okazaki, charges a fee of 20,000 yen (US$144) to inform a client’s employer about their decision to quit, eliminating the need for any uncomfortable confrontations. Since its inception in 2017,…
-
China’s exports shrink, imports fall amid weak global demand
Chinese exports experienced a sharper decline than anticipated in May, while imports also fell, reflecting weak international demand and sluggish domestic consumption. In May, exports from the world’s second-largest economy dropped 7.5% year-on-year, the largest decrease since January, compared to 8.5% growth in April. Imports shrank by 4.5%, a slower rate than the 7.9% decline in the previous month. The…
-
Thai investor confidence sinks as government formation uncertainty looms
Investor confidence in the nation’s stock market has dropped to an eight-month low due to uncertainty over the formation of a new government, according to the Federation of Thai Capital Market Organisations (Fetco). The overall investor confidence index has dipped to 77.70 from 110.09 in May, entering the “bearish zone” for the first time in eight months. Foreign investor confidence…
Don't forget to check out some other things to do in Thailand - get help starting a business or finding a job in Thailand, buy Thailand property, rent a yacht or book a medical procedure worldwide.