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 Moving with family? Here’s how to cut health costs in Thailand
Relocating to Thailand with your family brings exciting new opportunities, but it also comes with the challenge of managing healthcare costs in a new system. Thailand has both public and private healthcare options, each offering different prices and quality of...
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Thailand’s retail sector expects double-digit growth driven by private consumption and online retail
Anticipating a robust year ahead, Thailand’s retail sector is poised for a double-digit expansion. The growth is primarily spurred by a surge in private consumption and the government’s stimulus measures, such as the Easy E-Receipt tax refund scheme and a boom in online retail. However, the rising cost of living is a cause for concern, as stated by the Economic…
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Thailand to launch green investment trusts for forestry initiatives
Thai regulatory bodies are paving the way for the establishment of investment trusts dedicated to forestry and tree-planting initiatives. These new financial products, dubbed green investment trusts, are part of an effort to diversify the capital markets and provide financial support to sectors that align with carbon neutrality goals. Pornanong Budsaratragoon, the secretary-general of the Securities and Exchange Commission (SEC),…
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Rising Red Sea tensions to spike freight rates warns EconThai
Global supply chains are bracing for further potential disruptions, as rising tensions in the Red Sea are projected to escalate freight rates in February, according to the Employers’ Confederation of Thai Trade and Industry (EconThai). The organisation has already noted an increase in freight rates by 1.89 to 2.42 times, a trend expected to persist should the tensions continue. Tanit…
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Thailand’s new green utility tariff boosts renewable energy use
The unveiling of a Green Utility Tariff (GUT) next month is set to bring about a significant progression in renewable energy use within Thailand, bolstering local businesses and attracting foreign investment. This move has been eagerly awaited by numerous companies considering expansion into Thailand, as they seek not only the necessary infrastructure but also a source of clean energy to…
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Thailand aims to be among top five Asian tech ecosystems
Aspiring to rank among Asia’s top five tech ecosystems within the next decade, Thailand is currently focusing on the development of smart industries, particularly in tourism, healthcare, agriculture, and manufacturing, according to a statement by a corporate innovation accelerator. Dr Kid Parchariyanon, CEO and co-founder of RISE, the accelerator, insisted that the adoption of artificial intelligence (AI), along with nurturing…
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Thailand’s GDP growth disappoints with a slow 1.8% rise in 2023
GDP growth in 2023 slowed down to a disappointing 1.8%, according to an announcement by the Fiscal Policy Office (FPO). Director-general, Pornchai Thiraveja, attributed this to a combination of negative factors impacting the economy. Originally, the growth was forecast to rise to 2.7% in 2023, based on a projection made in October last year. The less-than-anticipated growth is due to…
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Thai government insists on land bridge project amidst criticism, seeks international investors
Despite facing criticism, the Thai government remains determined to proceed with its Land Bridge project, inviting foreign investors and prioritising environmental implications, especially in headwater regions. Government spokesperson Chai Wacharonke, addressing a mobile Cabinet meeting in Ranong, confirmed the government’s intent to engage foreign investors post the project’s promotion by Prime Minister Srettha Thavisin at three international events. These included…
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JKN Global sells 50% Miss Universe stake to Legacy Holding for US$16m
In a bid to deal with its ongoing financial struggles, JKN Global Group Plc, a renowned local media company, has decided to offload a 50% stake in its Miss Universe business. The stake, valued at US$16 million (570 million baht), will be purchased by Legacy Holding Group USA Inc. The group, which is under the control of Mexican businessman Raul…
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Southeast Asia capitalises on China’s Australian lobster ban
The protracted ban on Australian rock lobsters by Beijing has prompted Southeast Asian countries to capitalise on the opportunity, increasing their seafood exports to China. As the ban continues, the shift in sourcing may become irreversible, experts predict. New Zealand currently dominates the Chinese market for rock lobsters, holding nearly 40% of the total market share, based on data from…
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Thai PM announces stimulus measures amidst economic crisis
Acknowledging Thailand’s struggling economy, Prime Minister Srettha Thavisin, who also serves as the Finance Minister, said today the government is set to introduce a series of stimulus measures to bolster growth. This revelation comes amidst criticism from Bank of Thailand‘s (BoT) Governor Sethaput Suthiwartnarueput, who argued that the government’s efforts will not rectify the underlying structural problems at the root…
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Chememan signs Khimsar agreement to become major lime producer in India
Chememan Public Company Limited (CMAN), a leading lime producer, inked the Khimsar Agreement with Khimsar Mine Corporation (KMC), marking its initiative to set up a state-of-the-art lime factory in Khimsar, Rajasthan, India. This endeavour positions CMAN on the path of becoming a significant lime producer in India. The agreement was signed with KMC, a fresh entrant in the Indian mining…
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Thachang Green Energy projects major expansion by 2026 with new power plants
Thachang Green Energy (TGE), an operator and developer of biomass power plants listed on the Stock Exchange of Thailand (SET), projects a significant business expansion between 2025 and 2026. This growth is attributed to the additional power generation capacity from imminent power plant projects. While no capacity increment is planned for this year, TGE predicts a revenue surge of over…
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Thailand’s tasty revival: Spending spree at food shows signals economic upswing for MICE sector
A surge in spending at food and packaging trade shows indicates a revival in the economy and a favourable trend for business tourism this year. Thailand remains a favoured location for the meetings, incentives, conventions and exhibitions (MICE) sector, according to Informa Markets Thailand, a leading trade show organiser. Kotchasorn Tocharoentanapol, the Deputy Event Director at Informa Markets Thailand, noted…
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Record-breaking business registrations and foreign investment in Thailand
Business registrations in Thailand soared to an all-time high in the previous year, exceeding 85,000, a figure not seen in the last decade. These registrations represented a total registered capital of 560 billion baht (US$15 billion). Foreign investment also saw a significant rise, hitting 130 billion baht (US$3.6 billion) in 2023, with Japan leading the investment pool. Projections for the…
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Mobile Cabinet allocates 552 million baht for Andaman Coast development
A total of 552 million baht (US$15 million) has been allocated by the mobile Cabinet towards the development of 18 new projects across six southern provinces on the Andaman Coast. Prime Minister Srettha Thavisin announced yesterday, January 23, after a Cabinet meeting in Ranong. The projects, proposed by the Joint Public and Private Sector Consultative Committee responsible for the southern…
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Thailand’s media spending to see 4% growth driven by online and TV
Anticipating a 4% growth in media spending this year, mirroring the trend from 2023, the market is set to be driven by online, TV, and out-of-home media. This predicted growth is attributed to political stability and economic stimulus initiatives introduced by the government. The burgeoning e-commerce platform landscape has catapulted affiliate marketing into a key media tool for brands. This…
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Thailand’s economic growth falls short of projections amid potential crisis
The pace of Thailand’s economic recovery slackened last year, falling short of the official predictions, as disclosed by government spokesperson Chai Wacharonke. This could increase the likelihood of the central bank considering an early easing strategy. Chai revealed today, January 23, that the Thai economy only expanded by 1.8% last year, a drop from the 2.6% growth experienced in 2022.…
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Bitcoin plunges 20% following launch of US Bitcoin ETFs
Bitcoin, the world’s leading digital currency, has seen a sharp decline of nearly 20% since January 11. This follows the launch of the inaugural Exchange-Traded Funds (ETFs) that invest directly in Bitcoin. The downturn has been attributed to increased caution among investors regarding the potential effects of these new financial products. On the day of the ETFs’ launch, Bitcoin soared…
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SET-listed banks’ net profit surges 15.6% due to rate hikes
Interest income growth due to policy rate hikes has contributed to a 15.6% year-on-year increase in consolidated net profit for ten Stock Exchange of Thailand (SET) -listed commercial banks in 2023, reaching a total of 232 billion baht. The previous year’s profit was around 201 billion baht. In the context of these rising interest rates, the banking sector demonstrated a…
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SET anticipates Oliver Wyman’s report on Thailand’s securities trading
The Stock Exchange of Thailand (SET) anticipates an imminent report from international consultant Oliver Wyman. The report, expected to be completed in the first week of February, focuses on the suitability of Thailand’s securities trading programs and the prevention of naked short selling. This initiative, led by SET President Pakorn Peetathawatchai, follows investigations into four alleged instances of naked short…
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US-China tensions fuel e-commerce growth in Thailand
The mounting geopolitical tension between the US and China is precipitating an influx of new e-commerce entities into Thailand, a development set to escalate market rivalry and broaden the scope of the cross-border e-commerce industry. Thanawat Malabuppha, the CEO of Priceza and honorary president of the Thailand E-Commerce Association, asserts that the escalating US-China geopolitical strife has triggered an expansion…
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TAT targets 7 billion baht tourism revenue surge for Ranong
The Tourism Authority of Thailand (TAT) aims to boost Ranong province’s tourism revenue to 7 billion baht (US$196 million) in the current year, a substantial rise from 6.72 billion baht (US$188 million) in the preceding year. The strategy is to increase the share of international tourists to 15% of total visitors, a significant recovery from the previous year’s slump. Ranong,…
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Changan Automobile targets selling 20,000 EVs in Thailand this year
With positive optimism about the electric vehicle (EV) market in Thailand, Changan Automobile, a renowned manufacturer based in Chongqing, China, has set an ambitious plan. The company aims to sell 20,000 EVs in Thailand within this year and has designated the nation as its strategic export hub. Shen Xinghua, who chairs Changan Auto Sales (Thailand), revealed that the Thai government’s…
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SEC enhances high-yield bond oversight amid Thai market instabilities
The Securities and Exchange Commission (SEC) is enhancing oversight measures for high-yield bonds to fortify payment protections and investor assurance, according to remarks made by SEC Secretary-General Pornanong Budsaratragoon. This move comes in response to recent market instabilities caused by numerous defaults and a significant accounting scandal in the speculative debt sector. As part of this heightened vigilance, the SEC…
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Global economy to grow in 2024, Thai leaders face new challenges
The global economy is projected to grow in 2024, according to forecasts by leading business groups and the World Bank. However, Thai leaders are expected to navigate new challenges such as bridging generational gaps in conversations and encouraging younger workers to mentor older employees on new technologies. Meanwhile, the stress levels among all employees are at an all-time high, triggering…
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Thailand expects major rise in EV imports under new four-year plan
The director-general of the Excise Department projected a significant increase in electric vehicle (EV) imports, with an estimated 175,000 units expected to reach Thailand within two years. This comes as part of a four-year plan, EV3.5 (2024-27), which requires importers to establish a production base in the country from 2024-25 onwards, to replace imports with domestically produced EVs. The plan…
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Thai tourism sector optimistic about Chinese arrivals despite economic concerns
Despite the Thai tourism sector experiencing a drop in Chinese visitors last year, the government remains optimistic about an increase in arrivals this year, targeting eight million visitors from the mainland. This optimism is fuelled by the prospect of the visa-free policy becoming permanent in March. The Chinese government has been advocating for its citizens to travel domestically during the…
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Chinese new year holiday expected to boost Thailand’s tourism revenue
Anticipated to reach a staggering 34.4 billion baht, spending during the Chinese New Year holiday is set to surge, with foreign travellers, primarily from Chinese-speaking nations, contributing 28.4 billion baht. The Tourism Authority of Thailand (TAT) attributes this 29% year-on-year revenue growth, which spans from February 8 to 16, to the visa-free policy for Chinese and Taiwanese tourists. TAT Governor…
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India encourages Thailand to tap into Andaman and Nicobar’s fisheries
The Indian government is encouraging Thailand to capitalise on opportunities within its fishing and tourism industries, particularly in the Andaman and Nicobar Islands. Shri Vishwendra, the region’s Secretary of Fisheries, emphasised the significant potential for deep-sea fishing due to the area’s underexploited marine resources. Despite the abundance of resources, including a potential tuna catch amounting to 148,000 metric tonnes, the…
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Bitcoin plunges to lowest value since mid-December amid dwindling ETF hype
Bitcoin, the world’s largest digital asset, plunged to its lowest value since mid-December as the speculative demand driven by hype over new Exchange-Traded Funds (ETFs) has waned. This has left the cryptocurrency in negative territory since the beginning of 2024. The asset briefly hovered around US$40,000 before settling at US$40,843 as of 11.40am on Friday in Singapore, marking a 4%…
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