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 Why traders in Thailand are choosing EC Markets for gold and forex trading
Gold and forex trading have long been favourites among investors in Thailand, but why are so many traders now turning to EC Markets? The answer lies in a combination of tight spreads, ultra-fast execution, Thai baht (THB) deposit support, and...
-
Chinese foreign minister calls for ASEAN regional cooperation
During a meeting between the Thai and Chinese foreign ministers to discuss the consultation mechanisms between the two nations, Chinese Foreign Minister Wang Yi emphasised the importance of upholding the ASEAN-centered East Asian regional cooperation framework and rejecting exclusive small circles. Wang and Thai Foreign Minister Maris Sangiampongsa co-chaired the second meeting between the foreign ministers. This two-day visit marked…
-
Nation Group announces partial salary suspension
Nation Group announced a partial salary suspension for some employees due to a significant decline in advertising revenue across the media industry, driven by current economic conditions. Chairperson Chai Bunnag also opted to forego his salary. Nation Group released an announcement, numbered 015/2567, detailing the decision to partially suspend salaries. This measure comes in response to a sharp decrease in…
-
Minor International celebrates sustainable business achievements
Minor International (MINT) is celebrating the efforts of businesses who have committed to sustainable growth and operating ethically. MINT, a Thai multinational company, specialises in hospitality, restaurant and lifestyle businesses located across 63 countries. Serving customers from the Asia-Pacific all the way to the America’s, MINT’s business portfolio consists of thousands of providers of food, hotels and tourism experiences. Seeing…
-
Vietnam Airlines surges 179%, top-performing airline stock in 2024
Vietnam Airlines made a remarkable return to profit, emerging as the world’s best-performing airline stock this year. The state-owned carrier soared to 179% in 2024, buoyed by a resurgence in travel demand. This surge in performance has allowed the airline to post a significant first-quarter profit, breaking a streak of over four years of consecutive losses. This turnaround is particularly…
-
Thailand woos Saudi investors with EV sector opportunities
Thai officials are set to attract Saudi Arabian entrepreneurs to invest in Thailand’s S-curve industries, particularly following their interest in the electric vehicle (EV) sector. Efforts to promote Thailand to potential investors will take place during a roadshow in Saudi Arabia, while also supporting Thai businesses aiming to expand into the Middle East, according to Narit Therdsteerasukdi, Secretary-General of the…
-
Tourism Ministry reinstates guarantee for outbound tour operators
Thai travellers faced significant setbacks after some licenced outbound tour operators left them stranded despite purchasing premium packages. In response, the Tourism and Sports Ministry is now seeking enhanced consumer protection measures. The Tourism Department, under the ministry’s supervision, plans to reinstate the guarantee amount for licenced outbound tour companies to 200,000 baht next year. This comes after a pandemic-era…
-
Thailand vehicle sales plummet 24% as debt pressures rise
Thailand’s vehicle market faces a challenging 2024 as initial optimism fades amid weaker-than-expected sales and increasing debt pressures. Vehicle sales in Thailand declined sharply by 24% year-on-year in the first four months, totalling only 46,738 units, according to the Asean Automotive Federation (Asean Autofed). This marks a significant drop from the 59,530 units sold during the same period in 2023.…
-
Thai-Philippine MoUs for rice exports worth 2.8 billion baht signed
The Commerce Ministry recently facilitated a significant trade development, leading a team of rice exporters to the Philippines and securing memorandums of understanding (MoUs) valued at 2.8 billion baht (US$77 million). Ronnarong Phoolpipat, Director-General of the Foreign Trade Department, headed the delegation, which included Charoen Laothamatas, president of the Thai Rice Exporters Association, during a visit from July 3 to…
-
Baidu’s robotaxis face backlash from Wuhan taxi drivers
Baidu’s fleet of over 500 autonomous taxis (robotaxis) in Wuhan is rapidly attracting customers, despite backlash from locals and taxi drivers. The Apollo Go service, which launched in August 2022, has become so popular in this city of 13.7 million that local taxi drivers are now urging the municipal transport authority to limit its use. In late June, Wuhan Jianshe…
-
Thailand targets 3.5 trillion baht in tourism revenue by 2025
The Tourism and Sports Ministry is contemplating increasing the tourism revenue target for 2025, suggesting that the Tourism Authority of Thailand (TAT) should aim higher than the 3.5 trillion baht goal set for this year. At the TAT Action Plan 2025 meeting held yesterday, July 9, the agency announced a target of 3.4 trillion baht (US$ 93 billion) for next…
-
CIMB Thai Bank predicts BoT policy rate cut to 1.5% by 2025
CIMB Thai Bank (CIMBT) predicts a significant reduction in the Bank of Thailand’s policy rate by one percentage point between December and next year, aligning with anticipated cuts in the US policy rate. Amonthep Chawla, the bank’s chief economist, stated that the Monetary Policy Committee (MPC) is likely to reduce the policy rate by 0.25 percentage points in December, bringing…
-
E-Foreign Business service said to simplify foreign investments
The Department of Business Development (DBD) is set to launch a new online service this month, the e-Foreign Business is aimed at streamlining the process for foreign investors to apply for business permissions in Thailand. Director-General of the DBD, Auramon Supthaweethum highlighted that the new system is designed to shorten the processing time for business registrations and reduce the volume…
-
Pol-ishing Thais: Thailand, Poland to boost medical technology ties
Thailand and Poland, despite their close trade ties, are urged to enhance their business cooperation, particularly in the medical technology sector, according to Polish Ambassador Artur Dmochowski. During a seminar in Bangkok yesterday, July 9, Dmochowski highlighted Poland‘s desire to strengthen economic, commercial, and technological exchanges with Thailand. The event aimed to showcase advancements in Polish medical technology. The Polish…
-
Honda to cease productions in Ayutthaya by 2025, EV competition
Honda Motor will cease vehicle production at its Ayutthaya factory by 2025, redirecting its efforts to consolidate operations at the Prachin Buri plant, the company announced today, July 9. This strategic shift underscores the increasing challenges Japan’s second-largest automaker faces in Southeast Asia, as Chinese brands aggressively vie for market share in Thailand amidst rising consumer interest in electric vehicles…
-
Asia Aviation sees record earnings from China, India travel surge
Asia Aviation Plc, Thailand’s largest low-cost airline operator, anticipates record earnings from core operations this year, driven by a significant increase in international visitors, which is boosting demand for seats and airfares. According to Chief Executive Officer Santisuk Klongchaiya, Thai AirAsia, the fully-owned budget airline unit of Asia Aviation, plans to increase flights to China and India to take advantage…
-
Thailand’s oil reserves expansion faces financial challenges
Plans to bolster Thailand’s strategic petroleum reserve (SPR) are encountering pushback from industry executives due to financial constraints. Thailand’s Energy Minister, Pirapan Salirathavibhaga, spearheaded an initiative to increase national oil reserve security by expanding the SPR as detailed in the 2024 oil plan. Pirapan aims to increase Thailand’s oil reserves, both crude and refined, from 50 days to 90 days…
-
Reforming Thailand’s creative sector to boost economy globally
Thailand’s creative industry requires a comprehensive reform to foster growth both domestically and internationally, as emphasised by the soft power development subcommittee. The government has identified the creative sector as a crucial driver for economic enhancement and international recognition, leveraging Thailand’s soft power. The 5F approach, encompassing Thai food, films and videos, fabric and fashion design, martial arts, and traditional…
-
Tax relief planned for businesses after minimum wage hike
The Finance Ministry is poised to introduce measures to support businesses impacted by the recent increase in the minimum wage. The ministry confirmed that the wage hike must be paired with tax measures to lessen the burden on businesses, following precedents set by past wage increases. Deputy Finance Minister Julapun Amornvivat stated that the goal of the minimum wage increase…
-
Thailand proposes 75% foreign ownership in condos, extending leases to 99 years
The government’s proposal to increase foreign ownership quotas for condominiums to 75% and extend land leasehold terms to 99 years has raised concerns, though officials are downplaying potential negative impacts. Government spokesman Chai Wacharonke addressed these concerns in a Facebook post, asserting that regulations could be introduced to mitigate any adverse effects on Thai citizens. The proposal aims to raise…
-
Thailand-China flights surge 213% after visa exemption deal
Flights between Thailand and China have surged to 55,000 in the past eight months, following the signing of a mutual visa exemption agreement, according to the Ministry of Transport. Deputy Transport Minister Surapong Piyachote reported that the 55,433 flights from October last year to May marked a 213% increase compared to the same period the previous year. He projected that…
-
Spicy new arrival: Rosa’s Thai set to sizzle
Work is well underway as the launch of Rosa’s Thai restaurant at Chantry Place, Norwich, UK draws near, with eye-catching billboards now advertising the grand opening. This will be the first Rosa’s Thai in East Anglia, joining the ranks of 41 other locations across the UK. The new restaurant, which will employ a team of 25, is set to open…
-
Thai sugar producer withdraws from challenging Cambodian market
Khon Kaen Sugar Industry Plc (KSL), Thailand’s third-largest sugar producer, has withdrawn its investment in the Cambodian market due to unfavourable business conditions, marking a significant setback in its regional expansion plans. According to KSL President Chalush Chinthammit, years of persistently low global sugar prices, a sluggish market in Cambodia, and the underutilisation of the Generalised System of Preferences (GSP)…
-
Fiorentine fusion: Ttalian-Thai forum sparks economic amore
The ninth annual Italian-Thai Business Forum (ITBF) was recently held in Florence, Italy, organised by the Thai Chamber of Commerce, the Thai Board of Trade, and the Italian Embassy in Bangkok, the event aims to bolster economic cooperation between the two nations, which have enjoyed 156 years of diplomatic relations. Business leaders from 16 Thai and 13 Italian companies attended…
-
BYD opens first EV plant in Thailand, producing eight millionth car
BYD inaugurated its first electric vehicle (EV) manufacturing plant outside China in Rayong, Thailand, marking a significant milestone with the production of its eight millionth new energy vehicle. The new facility, located on a 600-rai (approximately 948,000 square metres) plot within the WHA Industrial Estate in Rayong, was officially opened yesterday, July 4. This marks BYD’s expansion into the global…
-
Toy story: Thailand art toys boom with adult collectors’ creativity
The local art toys sector in Thailand is experiencing significant growth, primarily driven by the purchasing power of mainly adult collectors, compounded by the creativity of small toy manufacturers. According to the Director-General of the Business Development Department, Auramon Supthaweethum, the art toy business is set for continued expansion due to rising consumer demand, presenting promising opportunities for Thai entrepreneurs.…
-
Thailand’s economic growth forecast cut to 2.4% amid weak exports
Thailand’s economic growth is forecasted to slow to 2.4% this year, a decrease from the 2.8% projection made in April, primarily due to weaker-than-expected exports and public investment in the early months of the year, the World Bank announced. The World Bank today, July 3, highlighted that the growth of Southeast Asia’s second-largest economy will be supported by consumer spending,…
-
Brewing trouble: Coffee brand percolates price hike due to costs
A popular coffee brand plans to increase its prices by 5% to 10% this month, citing rising production costs. This follows the recent price adjustment by Ajinomoto for its monosodium glutamate (MSG) products, which saw a 4% to 5% increase for packages of 250 grammes, 500 grammes, and 1,000 grammes. Somsak Pornratanacharoen, honorary advisor of the Thai Wholesale and Retail…
-
Thai bond market bonds stronger, hits 17 trillion baht milestone
The Thai bond market reported a total outstanding value of 17 trillion baht (US$460 billion) in the first half of 2024, reflecting a 2.7% increase from the end of the previous year, as stated by the Thai Bond Market Association (ThaiBMA). Within this total, long-term corporate bonds accounted for 494 billion baht (US$13.4 billion), with the majority being investment-grade bonds…
-
Thai exports expected to grow 1-2% despite geopolitical tensions
The Thai National Shippers’ Council (TNSC) anticipates a modest increase in export value by 1 to 2% in the latter half of this year, despite ongoing geopolitical tensions in Europe and the Middle East. Chairman Chaichan Chareonsuk confirmed that the TNSC is maintaining its export growth forecast at 1 to 2% for the year. However, the council remains cautious due…
-
Thailand considers alcohol ban lift to boost restaurant spirits
The Government of Thailand is considering lifting the afternoon ban on alcohol sales to assist struggling restaurant operators amid an economic downturn. Representatives from the Restaurant Business Club submitted a letter to Prime Minister Srettha Thavisin, urging for measures to help restaurants survive the challenging economic climate. Restaurant operators highlighted rising operating costs and increasing prices of ingredients as major…
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.