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 Long-term life in Thailand? 5 reasons private health insurance pays off in the long run
Thailand is a great place for expats and retirees, offering a warm climate, affordable living, and rich culture. However, healthcare can be tricky for foreigners since they aren’t eligible for public health coverage, and private care can be expensive. Private...
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Thai auto parts makers pivot to medical devices amid EV shift
The Federation of Thai Industries (FTI) plans to present a proposal to the government this month aimed at bolstering the local medical device business. This initiative seeks to assist auto parts manufacturers in diversifying their operations amid the vehicle industry’s transition to electric vehicle (EV) technology. The shift in the industry provides an opportunity for auto parts makers, particularly those…
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Pink Line monorail to boost traffic to Mueang Thong Thani
Bangkok Land, a publicly traded company, anticipates that the Pink Line monorail will boost traffic and increase the occupancy rate of its exhibitions to 70% within five years. Chief Executive of Bangkok Land and operator of Impact Exhibition Management, Paul Kanjanapas reported that in the first half of the year, the company’s food, retail, and exhibition sectors met their growth…
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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…
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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…
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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…
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Thai investor confidence remains neutral for 5th month
The Federation of Thai Capital Market Organisations’ (FETCO) Investor Confidence Index (ICI) maintained its position in the neutral zone for the 5th consecutive month, registering 82.89 in June. The index, which forecasts market conditions over the next three months, highlights that stimulus measures and companies’ earnings reports could potentially boost investor sentiment in the latter half of the year. FETCO…
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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…
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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…
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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$77 million). Ronnarong Phoolpipat, Director-General of the Foreign Trade Department, headed the delegation, which included Charoen Laothamatas, president of the Thai Rice Exporters Association, during a visit from July 3 to…
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Seoul-searching: South korea & Thailand kickstart trade pact talks
The Trade Ministry of South Korea yesterday announced the initiation of negotiations with Thailand to establish an Economic Partnership Agreement (EPA) to enhance bilateral trade and investment. The South Korean delegation, headed by Deputy Minister for FTA Negotiations Roh Keon-ki, is set to engage in discussions with his Thai counterpart, Chotima Iemsawasdikul, in Bangkok through until tomorrow, as reported by…
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Baidu’s robotaxis face backlash from Wuhan taxi drivers
Baidu’s fleet of over 500 autonomous taxis (robotaxis) in Wuhan is rapidly attracting customers, despite backlash from locals and taxi drivers. The Apollo Go service, which launched in August 2022, has become so popular in this city of 13.7 million that local taxi drivers are now urging the municipal transport authority to limit its use. In late June, Wuhan Jianshe…
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Thailand targets 3.5 trillion baht in tourism revenue by 2025
The Tourism and Sports Ministry is contemplating increasing the tourism revenue target for 2025, suggesting that the Tourism Authority of Thailand (TAT) should aim higher than the 3.5 trillion baht goal set for this year. At the TAT Action Plan 2025 meeting held yesterday, July 9, the agency announced a target of 3.4 trillion baht (US$ 93 billion) for next…
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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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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…
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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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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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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…
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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-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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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…
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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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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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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.…
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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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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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