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 5 ways retirees in Thailand lose money (and how to stop it)
Retiring in Thailand can be affordable and enjoyable, but many retirees lose money due to common mistakes. High living costs, scams, and unexpected expenses can quickly drain savings. There are five ways that retirees in Thailand can lose money and...
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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…
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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…
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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…
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Foreign funds return to Thai stocks amid Fed rate cuts
Foreign fund inflows show signs of returning to the Thai stock market in the second half of 2024, driven by the anticipated US Federal Reserve interest rate cut, a rebounding Thai economy, and the financial results of listed companies. Soraphol Tulayasathien, Senior Executive Vice-President, highlighted that developing countries are experiencing increased production capacity for exports, signalling a global economic recovery.…
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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…
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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…
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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…
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Thailand targets top 20 ranking for Suvarnabhumi Airport by 2029
The Ministry of Transport is aiming to elevate Suvarnabhumi International Airport into the world’s top 20 airports by 2029, aligning with the government’s ambition to make Thailand a global aviation hub, according to government spokesperson Chai Wacharonke yesterday. Deputy Prime Minister and Transport Minister Suriya Jungrungreangkit set the target following Suvarnabhumi Airport’s ranking of 58th on the 2024 World’s Best…
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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…
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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…
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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…
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Thailand aims for 8 million Chinese tourists if airlines boost capacity
The Tourism Authority of Thailand (TAT) has stated that the goal of attracting 8 million Chinese tourists this year is attainable, provided airlines can increase seat capacity to over 80% of pre-pandemic levels. Chinese tourists had surpassed visitors from other countries by June 30, with 3.5 million arrivals out of a total of 17.5 million foreign visitors to Thailand. The…
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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)…
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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…
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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…
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Taking off: Really Cool Airlines CEO ready to revolutionise air travel
After 14 years as the mastermind behind Nok Air, Really Cool Airlines CEO Patee Sarasin is back with a daring new venture promising to shake up the airline industry. At 62, Patee believes that the winds of change are about to sweep through the world of air travel. Having witnessed the tumultuous impact of the Covid-19 pandemic on the aviation…
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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,…
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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…
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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…
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US economy thrives in 2024, China faces challenges
The US economy has been robust throughout 2024, buoyed by strong consumer spending, fiscal stimulus, and a thriving labour market. In contrast, Europe and Asia, particularly China, have faced economic challenges, with China’s real estate market issues impacting its overall economic performance. However, there are optimistic signs for the remainder of 2024 and into 2025. China’s leadership is beginning to…
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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…
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Jet fuel tax relief losing altitude, says deputy finance minister
The Finance Ministry appears unlikely to extend the jet fuel excise tax reduction, which was initially introduced during the Covid-19 pandemic, stated Deputy Finance Minister Julapun Amornvivat. Julapun addressed a recent proposal by a group of budget airlines seeking further reductions in the jet fuel excise tax. He remarked that such requests are not of immediate importance. Julapun highlighted that…
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Thai hotels seek tax breaks for renovations and EV charger installs
Operators of Thai hotels are advocating for tax deductions or subsidies to support renovation investments, especially those focused on green energy initiatives. The Tourism Authority of Thailand (TAT) also urged hotels in second-tier cities to install electric vehicle (EV) chargers to cater to the increasing number of travellers using EVs. The Thai Hotels Association (THA) is set to meet with…
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Finance Ministry to launch new 100 billion baht investment fund
Plans are underway at the Finance Ministry to establish a new investment fund similar to the previous state-controlled Vayupak Fund, aimed at bolstering Thai shares with strong fundamentals. This initiative is expected to be finalised within two weeks. Finance permanent secretary Lavaron Sangsnit announced that the new fund is projected to attract a minimum of 100 billion baht into the…
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Boeing acquires Spirit AeroSystems in US$4.7bn all-stock deal
Boeing announced the acquisition of its troubled supplier, Spirit AeroSystems, in an all-stock deal valued at US$4.7 billion, following extensive negotiations. This move comes as Boeing seeks to address significant safety and regulatory challenges affecting both companies. The total value of the transaction, including Spirit’s last reported net debt, is approximately US$8.3 billion. According to Boeing, each share of Spirit…
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Credit agencies highlight Thailand’s EEC as key to industrial growth
Credit rating agencies underscore the significance of Thailand’s Eastern Economic Corridor (EEC) project in advancing the nation’s industrial sector and boosting competitiveness, according to the Public Debt Management Office (PDMO). The public debt advisor for PDMO, Jindarat Viriyataveekul, indicated that credit rating agencies have been closely observing the EEC project’s progress for years due to its pivotal role in shaping…
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Tuna boom: Thai exports make a splash with double-digit surge
Thai exports of canned tuna have experienced a notable surge, increasing by over 13% in the first five months of this year. According to the Director-General of the Trade Policy and Strategy Office (TPSO), Poonpong Naiyanapakorn, the value of these exports reached US$979 million during this period, reflecting a 13.4% year-on-year growth. Thailand exported 221,092 tonnes of canned tuna this…
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Global bond funds attract 88 billion baht, yield 0.50% return
Global bond funds have seen significant popularity over the past 18 months, drawing investments totalling 88 billion baht and yielding an average return of 0.50% for the year to date, according to Morningstar Research (Thailand). Morningstar stated that global bond funds are capable of producing positive average returns this year, although these returns are modest in comparison to the US…
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Thailand aims for US$30 billion bilateral trade with Malaysia
The government is set to participate in the Joint Trade Committee (JTC) meeting with Malaysia on July 4, aiming to enhance bilateral trade to US$30 billion by 2025. Chotima Iemsawasdikul, Director-General of the Trade Negotiations Department, announced that Commerce Minister Phumtham Wechayachai will attend the third JTC meeting between Thailand and Malaysia in Kuala Lumpur. This will be Thailand’s inaugural…
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Latest trends in the Thailand real estate market
Thailand’s economy is affected by the real estate market in a big way. Tourist destinations like Bangkok and Phuket have seen times of expansion. Both local desire and attention from other countries drive growth. There are a lot of different types of buyers in the housing market. There are expensive homes in great places and cheaper homes in new areas. …
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