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.
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Sponsored How to reduce out-of-pocket medical expenses in Thailand?
Managing medical expenses in Thailand is important as healthcare costs continue to rise. The country’s healthcare system includes both public and private options, but even with the Universal Coverage Scheme (UCS) for citizens, many still face high out-of-pocket medical expenses....
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Thai Finance Ministry enhances data use for economic growth
The Ministry of Finance is advancing its data utilisation efforts to develop comprehensive profiles of Thai citizens’ liabilities and assets, aiming to bolster economic development. Permanent Secretary Lavaron Sangsnit revealed that creating a data lake will enable the government to craft improved national development policies and identify regional strengths and weaknesses. This system will consolidate diverse information about citizens, including…
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Grab Thailand launches new cash loans for partner merchants
Grab Thailand announced a revamped portfolio of cash loans aimed at its partner merchants, offering three distinct loan products to cater to businesses of all sizes. The new offerings include loan amounts up to 10 million baht with interest rates capped at 1% per month for larger businesses. The initiative aims to boost working capital, enhance liquidity, and support entrepreneurs…
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Thailand plans post-flood tourism campaigns for northern provinces
The Tourism Authority of Thailand (TAT) is preparing tourism campaigns and promotions to aid affected provinces flooded in Thailand once the situation improves. Severe floods have ravaged 27 provinces, including key northern and central regions like Chiang Rai. These floods led to the cancellation of domestic flights to Mae Fah Luang Chiang Rai Airport yesterday afternoon. TAT Governor Thapanee Kiatphaibool…
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Macro worries: Thai consumers feel the crunch, says PwC survey
Thai consumers are increasingly concerned about the impact of macroeconomic volatility on the country’s economic outlook, with 54% expressing significant worry, according to PricewaterhouseCoopers’ (PwC) latest survey. This prompted a shift towards spending more on essential goods. Social media has emerged as the preferred shopping channel, despite ongoing concerns about personal data leakage. The Voice of the Consumer Survey 2024:…
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Thailand’s economy to see 2.5% growth in 2024, EIC forecasts
Thailand is projected to experience a soft economic landing next year, according to the Siam Commercial Bank’s Economic Intelligence Centre (SCB EIC). The research centre has maintained its 2024 economic growth forecast for Thailand at 2.5% but has downgraded its 2025 outlook to 2.6%, down from previous forecasts of 2.9 to 3%. EIC chief economist Somprawin Manprasert explained that the downward…
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Thai rice prices fall in a grainy twist as Indonesian bids drop
Thai rice prices plunged to their lowest levels in over a year as Indonesian bidders were compelled to lower their high prices in a recent auction. Meanwhile, Indian rice export prices continued their downward trend, reaching an eight-month low. Indian 5% broken parboiled rice was priced at US$534 (around 17,000 baht) per tonne this week, marking the lowest level since…
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New commerce minister vows to tackle high living costs, Chinese imports
New Commerce Minister Pichai Naripthaphan pledged immediate action to tackle high living costs, hasten free trade agreement (FTA) negotiations, and tighten control over the influx of Chinese imports. Pichai, after his first day in office, expressed readiness to collaborate with deputy commerce ministers Napintorn Srisanphang and Suchat Chomklin to address the pressing need to drive Thailand’s economy during a crisis.…
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Langham’s latest hotel to transform Bangkok’s Customs House
Langham Hospitality Group is set to turn heads in Bangkok with its latest luxury venture, The Langham, Customs House, Bangkok. Set in the vibrant Bang Rak district, this glamorous new hotel will breathe new life into the city’s iconic Customs House, perched along the Chao Phraya River. At the heart of this project is the magnificent 1888-built Customs House, a…
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New law to regulate Thailand oil and gas prices nears approval
A draft law aimed at empowering energy officials to regulate domestic oil and cooking gas prices is advancing towards parliamentary approval. This legislation could become a significant energy policy under the emerging Paetongtarn Shinawatra government. Energy Minister Pirapan Salirathavibhaga highlighted yesterday, September 11, that the bill should be reviewed by legislators before the year’s end. Pirapan championed this policy since…
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Thailand to regulate foreign e-commerce, new rules for COD services
The Ministry of Digital Economy and Society (DES) is set to collaborate with various agencies to regulate foreign e-commerce platforms, according to minister Prasert Jantararuangthong. These platforms are leveraging local infrastructure and the domestic market without contributing back to the country, Prasert stated yesterday, September 11. Prasert, who also serves as a Deputy Prime Minister in the new Cabinet, mentioned…
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Thailand launches 20 billion baht fund to support struggling SMEs
Industry Minister Akanat Prompan announced plans to establish an Industrial Reform Fund worth at least 20 billion baht (US$593 million). This initiative aims to support manufacturers, particularly small and medium-sized enterprises (SMEs), in addressing liquidity challenges and enhancing their competitiveness. SMEs are currently facing significant liquidity issues and difficulties in accessing financial resources amidst intensifying competition and rapid technological advancements,…
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Japan sees record tourist arrivals, Thai visitors surge
Tourist arrivals to Japan have surged to record levels, with over three million visitors per month from March to July this year. Despite the sweltering heat in July, Japan attracted 3.29 million tourists, marking a 41.9% year-on-year increase, as reported by the Japan National Tourism Organisation. Among these visitors, Thai tourists ranked fifth, with 671,810 arrivals. Japan has been a…
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Thai supermarket Big C to launch four new branches
Big C Supercenter Plc, one of Thailand’s biggest supermarket and convenience store chains, is set to expand with the launch of four additional branches by the end of 2025. Company Chief Executive and President Aswin Techajareonvikul announced plans to renovate 18 existing stores and open one new store this year, with a total investment of 5 billion baht. “Moreover, the…
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Thailand’s delivery and ride-hailing GMV hits US$5bn in H1 2024
Thailand’s online food delivery and ride-hailing services saw a significant rise in gross merchandise value (GMV) in the first half of 2024, reaching US$5 billion (approximately 168 billion baht), as reported by India-based Redseer Strategy Consultants. Both sectors are anticipated to maintain double-digit growth from 2023 to 2028, propelled by robust demand among digital consumers and an increasing number of…
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Thai stock market leads Asia with 6% dollar gain in September
The Thai stock market has surged to become the top performer in Asia this month, recording a 6% increase in dollar terms. Foreign investors have returned as net buyers, injecting over 20 billion baht (US$595 million) into the market, driven by a combination of domestic and international factors, according to the Stock Exchange of Thailand (SET). South Korean and Chinese…
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Software sector grows 12.8%, hits 215 billion baht
The software sector experienced a robust growth of 12.8% last year, reaching a valuation of 215 billion baht (US$6.4 billion), outperforming three other digital sectors. Investment in advanced technologies such as artificial intelligence (AI), data analytics, cloud computing, and cybersecurity bolstered this growth, according to a joint survey by the Digital Economy Promotion Agency (Depa) and IMC Institute. The software…
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Thailand’s 400-baht wage hike alarms small hotel owners
Hoteliers in Thailand express concern that raising the daily minimum wage to 400 baht exclusively for large employers could disrupt the job market in the hotel sector. This pay disparity may attract workers to larger hotels, leaving smaller establishments struggling to retain staff. With Thailand’s tourism industry yet to fully rebound, industry leaders urge the government to focus on reducing…
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Exploring new trends in gold trading for enhanced profitability
Gold has been a highly valued commodity for centuries thanks to its rarity, beauty, and many practical uses. In recent decades, gold trading has become particularly lucrative due to market volatility and rising gold prices. However, the gold market is constantly evolving with new products, regulations, and technologies. Staying up-to-date with the latest gold trading trends is essential for traders…
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Thailand urged to reform high tax rates to match global standards
Thailand’s tax system requires comprehensive integration, as its current personal and corporate income tax rates exceed international standards, stated Finance Minister Pichai Chunhavajira. During his keynote speech at the ACMA Business Forum 2024 on Shaping Tomorrow, Pichai highlighted that Thailand’s personal and corporate income tax rates are relatively high compared to competing nations. He noted that there is a global…
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Baht volatility surpasses regional currencies amid US rate cut speculation
The baht has shown notable volatility against the US dollar, surpassing its regional counterparts primarily due to market expectations of a US policy rate cut and Thailand’s substantial gold imports. Year-to-date, the baht’s volatility rate is 7.3%, just below the Korean won’s 7.4%. However, it exceeds other regional currencies, with the Malaysian ringgit and Indonesian rupiah at 5.5%, the Philippine…
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Cathay soars again: A350 fleet back in action after fiery setback
Cathay Pacific Airways triumphantly re-launched its Airbus A350 aircraft, after a dramatic engine fire grounded the fleet and caused the cancellation of 90 flights over the past week. The fiery incident uncovered a rare issue with fuel hoses, triggering an urgent, large-scale inspection and repair operation across the airline’s A350 lineup. With 48 of these widebody jets under Cathay’s wing,…
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Noodles of growth: Mama set to stir up premium market
Thai President Foods Plc, the company behind Mama instant noodles, anticipates significant growth in the instant noodle market this year, with the premium segment potentially outperforming the overall market. Pun Paniangvait, manager of the president’s office, reported that Thailand’s instant noodle market experienced an 8% to 9% growth in the first half of this year, and the company projects a…
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Thailand rice is on the rise with global GI glamour
The Thailand Rice Department is on a mission to put Thai rice in the global spotlight by promoting its distinctive strains with certified Geographical Indication (GI) labels to a wider audience. Farming communities in Phatthalung and Trang in the south, along with Phayao in the north, have crafted premium rice products that command top prices. These farmers are betting on…
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Thailand’s gold prices drop like a rock, baht’s the culprit
Gold prices in Thailand have taken a nosedive, plummeting by 2,000 baht per baht weight in just over a month. This dramatic drop is attributed to the Thai baht’s impressive 7% rise during the same period. The Gold Traders Association (GTA) warns that prices could fall further if the baht continues to strengthen. Jitti Tangsithpakdi, President of the GTA, explained…
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Digital TV operators sink or swim with licence deadline drama
Digital TV operators are in hot water as they face a raft of industry troubles and the looming expiry of their licences in 2029. The sector is grappling with rapidly changing viewer habits, a surge in streaming services, and nagging worries about dwindling viewership figures. Back in 2013, the National Broadcasting and Telecommunications Commission (NBTC) auctioned off 24 digital TV…
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Thai stocks hit 18-month high as baht rallies post new govt formation
Thai stocks surged to their highest levels since March last year, with the baht also experiencing a significant rally. This boost in financial markets follows the formation of the new government, sparking optimism over policy continuity. The Stock Exchange of Thailand (SET) Index rose by as much as 2.9%, driven by gains in the packaging, information and technology, and petrochemical…
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Thailand’s new transport centre boosts regional logistics hub status
Airports of Thailand Ground Aviation Services (AOTGA) anticipates that its newly inaugurated Multimodal Transportation Centre at Suvarnabhumi Airport will bolster Thailand’s position as a regional logistics hub, enhancing goods transportation among Cambodia, Laos, Myanmar, and Vietnam (CLMV). The new centre is designed to integrate various transportation modes, including land, rail, sea, and air, with the added benefit of consolidating customs…
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Floods drive August inflation up 0.35% due to rising food prices
Rising prices of fresh vegetables and fruit, influenced by flood-damaged production areas, have driven up inflation by 0.35% in August. Director-General of the Trade Policy and Strategy Office (TPSO), Poonpong Naiyanapakorn, reported that headline inflation in August saw a 0.35% year-on-year increase. The surge in food prices, particularly fresh vegetables and fruit, was primarily due to flooding in agricultural regions,…
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Thailand mandates VAT registration for online sales platforms
The Ministry of Finance is set to integrate online sales platforms into Thailand’s tax system, following a Cabinet decision mandating these platforms to register for value-added tax (VAT). An anonymous ministry source confirmed that the Revenue Department will amend the Revenue Code in line with the Cabinet’s resolution. Online sales platforms will now be required to register for VAT in…
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Thailand levels up: Set to be Southeast Asia’s e-sports epicentre
Thailand is poised to become a leading e-sports hub in Southeast Asia, according to Riot Games, a US-based game developer. Riot Games Thailand Manager Jon Lor emphasised the strong foundation already present in the Thai gaming community. “From my perspective, it’s about building on the strong foundation we already have. We’ve seen incredible enthusiasm from the Thai gaming community, and…
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