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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Thai auto market anticipates price war as Chinese EVs flood in
The Thai auto market is bracing for a potential price war as the influx of affordable electric vehicles (EVs), mainly from China, threatens the traditional dominance of internal combustion engine (ICE) vehicles. Over the next few years, the competition is set to escalate as two to three Chinese automakers plan to roll out their EVs in Thailand, capitalising on the…
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Vietnam aligns corporate tax with global 15% minimum to attract investors
Vietnam has adopted a resolution to equalise its corporate income tax with the globally accepted minimum of 15% for multinational corporations. This move is aimed at countering the global trend of countries competing to attract investors by lowering their taxes. The resolution was supported by a vast majority, approximately 94% of the National Assembly delegates, as per the legislative records.…
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Thai businesses may face wage pressure after state officials’ salary increase
The Thai Chamber of Commerce predicts a potential ripple effect on businesses, following the Cabinet’s decision to approve a 10% salary increase for state officials. The chairman of the chamber, Sanan Angubolkul, anticipates that this move may compel businesses to raise their wages to attract skilled employees. The salary increase for new state employees will result in a monthly income…
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No evidence of naked short selling in Thai stock market, says ASCO
The Stock Exchange of Thailand (SET) and the Association of Securities Companies (ASCO) confirmed that there is no occurrence of naked short selling within the Thai exchange. This comes amidst the Securities and Exchange Commission’s (SEC) request for ASCO members to align their short-sell guidelines with those of the SEC. Pichet Sithi-Amnuai, ASCO president, revealed that regular inspections of short…
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True Corporation spearheads AI utilisation for automation
True Corporation, led by Deputy Chief Executive Sharad Mehrotra, is positioning itself at the forefront of artificial intelligence (AI) utilisation with ambitious plans for widespread automation and paperless operations. The company’s recent hybrid conference, AI Gets Good, highlighted the critical need for an integrated approach that blends technology, people, and ethics. Accenture research indicates that language-based AI could augment around 40%…
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Combined tour packages: Thai proposal for Chinese tourists
Chinese tourists are the target of a new strategy suggested by Thai tourism operators, who propose selling combined tour packages to Thailand and Malaysia. This proposal comes in light of China granting visa exemptions to visitors from Malaysia and several European countries, but not Thailand. Songchai Mungprasithichai, president of the Songkhla Tourism Promotion Association, believes that since Hat Yai Airport…
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Doubts over Thai target of 8.2 million Chinese visitors in 2024
Analysts have expressed doubts over the Tourism Authority of Thailand’s (TAT) ambitious target of attracting 8.2 million Chinese visitors next year. This comes as predictions for overall foreign arrivals next year have been downscaled, amidst concerns over a sluggish global economy. Kasem Prunratanamala, who leads research at CGS-CIMB Securities in Thailand, stated that while the firm has kept its estimation…
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Thai Airways takes a smile: Reinstates nine cool-season routes for domestic delight
Thai Airways International reinstated nine domestic routes for the cool season, previously provided by its former affiliate, Thai Smile Airways. The services, which will run until March 30, utilise the Airbus A320 planes from the airline’s former subsidiary, Thai Smile. The re-established routes offer daily flights from Bangkok to nine destinations – Chiang Mai, Chiang Rai, Hat Yai, Khon Kaen,…
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Job-jitters in Thailand: Employment growth hits five-quarter low
The state planning agency of Thailand revealed today that the country’s employment growth has slowed to a five-quarter low of 1.3% year-on-year in the third quarter amid a sluggish economy and weak demand for exports. This comes as Southeast Asia’s second-largest economy recorded a meagre growth of 1.5% in the July-September period, marking the slowest pace witnessed this year. The…
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Thai stock exchange under SEC review for high-frequency trading programs’ suitability
The Stock Exchange of Thailand (SET) has been requested by the Securities and Exchange Commission (SEC) to carry out a comprehensive review of the use of trading programs, including high-frequency trading (HFT). This initiative has been launched to assess the current trading volumes and their suitability for the Thai stock market. SEC’s secretary-general, Pornanong Budsaratragoon, revealed in a Bangkok Post…
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Visa-free travel policies boost global tourism and economy
Countries worldwide are recognising the importance of travel freedom in bolstering their economies and accelerating the recovery post-pandemic. As tourism and trade flourish without border restrictions, governments are implementing strategies to enhance their tourism competitiveness, such as visa-free travel policies and the digitalisation of pre-travel processes. Prominent countries like China and India, with their vast populations, are primary targets for…
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Thai and Malaysian PMs to boost border trade and tourism
A meeting slated for tomorrow between Thai Prime Minister Srettha Thavisin and Malaysian Prime Minister Anwar Ibrahim in Songkhla province is expected to tackle initiatives aimed at enhancing Thai-Malaysian border trade and tourism. A source revealed that the agenda includes a proposal from Thai tourism businesses to grant Tor Mor 6 immigration clearance form exemptions to Malaysian visitors at five…
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Gold prices could hit US$2,015 per ounce in near future, says GTA
The Gold Traders Association (GTA) projected a potential rise in gold prices, possibly hitting US$2,015 (71,535 baht) per ounce in the near future. However, this trend may be interspersed with periods of market volatility. Yesterday morning, spot gold saw an increase of 0.4% to US$1,997.39, spurred by a dip in the US dollar and a fall in the benchmark US…
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Thai economy rebound: PM unveils bold plan to tackle challenges
Prime Minister Srettha Thavisin outlined a comprehensive plan to tackle pressing economic issues in Thailand spanning agriculture, industry, and debt-related concerns. He unveiled his intentions during a keynote speech at The Standard Economic Forum, stating that the Thai economy’s current state is a subject of contention between himself and the Bank of Thailand’s governor. Despite the debate, the Thai PM…
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Thai car exports surge 12.2% in October despite domestic sales slump
Thai car exports witnessed a 12.2% surge in October, reaching 105,726 units, thanks to the escalating demand for pickups primarily in the Middle East. However, domestic sales didn’t keep pace, suffering from the burden of high household debt. The Federation of Thai Industries (FTI)’s Automotive Industry Club reported robust sales in other markets last month, including Australia, Europe, North America,…
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Chinese tourists still prefer Thailand despite visa exemptions
Despite increasing competition from countries offering visa exemptions to Chinese tourists, Thailand’s tourism industry remains secure due to its dominant market share and increased expenditure per trip, according to the country’s Tourism and Sports Ministry. Countries such as Kazakhstan, Maldives and Sri Lanka have started offering visa exemptions for Chinese tourists, yet Thailand continues to be the preferred destination, said…
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Former TAT governor urges government to boost Chinese visitor numbers
The former Tourism Authority of Thailand (TAT) governor urged the government to reconsider its tourism strategy to improve the dwindling Chinese market. Predictions for this year suggest that arrivals from China will only total 26.8% of the 2019 level. Former TAT governor Yuthasak Supasorn suggested that the government should negotiate with China to secure more flight routes and slots for Thai…
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Nok Air hit by widespread flight delays amid technical issues
A recent surge in delayed flights by Nok Air sparked widespread discussion about the airline‘s on-time performance (OTP). Passengers’ experiences of these delays were brought to light this week when renowned television reporter Thapanee Eadsrichai shared on Facebook that many passengers on a Nok Air flight from Don Mueang Airport to Chiang Mai had to be relocated to other flights…
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Thailand and Sri Lanka set to finalise free trade agreement by year’s end
Thailand and Sri Lanka are on track to finalise a bilateral free trade agreement (FTA) by the close of this year. The chief of trade negotiations has indicated that the signing of the agreement is expected by early February next year. Chotima Iemsawasdikul, the director-general of the Trade Negotiations Department, disclosed that Thai and Sri Lankan officials are set to…
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Thai stock market hit by short selling amid falling figures
Speculation on short selling and naked short sales has been linked with causing havoc in the Thai stock market today, as retail investors attribute the continuous market decline to these practices. The Stock Exchange of Thailand (SET) has taken a hit this year with a drop of 14.9% as of November 20 and a decrease in market capitalisation from 3.2…
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Spa-demic resilience: Thailand’s wellness sector unaffected by global downturn says MSpa
Minor Hotels’ spa and wellness arm, MSpa International, declared that the current global economic downturn and geopolitical conflicts will not impact high-spending guests in Thailand’s wellness sector. The company’s group director, Sandie Johannessen, stated emphatically that the nation’s wellness centres continue to attract enthusiastic visitors for leisure trips and retreats, despite the global situation. Johannessen also pointed towards the affluent…
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Binance CEO admits to money laundering, fined over US$4 billion
Changpeng Zhao, the chief executive of Binance, allegedly admitted to money laundering violations in a US court yesterday. The confession will result in the cryptocurrency exchange he founded paying more than US$4 billion in fines. Attorney General Merrick Garland said Binance’s success as the world’s leading cryptocurrency exchange was partially due to its criminal activities. The Department of Justice (DoJ)…
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Central Pattana Plc launches Black Friday 2023 #shocksales
Black Friday 2023 #shocksales is set to be launched by Central Pattana Plc, an entity responsible for the operation of 38 malls across the country and The Esplanade. Spanning three days, the major shopping extravaganza provides shoppers with numerous promotional opportunities mirroring the Black Friday sales in the United States, a customary retail period that follows Thanksgiving and marks the…
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Thai stock exchange investigates potential naked short selling offences
A specialised committee has been established by the Stock Exchange of Thailand (SET), designed to delve into the issue of naked short selling. The team will comprise representatives from the Korea Exchange and Nasdaq stock exchange in the US, brought in to aid Thai regulators in their investigation into potential offences. The committee’s work is slated to commence imminently, as…
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Thailand’s 2023 financial growth predictions revised down due to GDP data
Economic analysts have recently revised their predictions for Thailand’s 2023 financial growth, due to disappointing third quarter GDP expansion data and uncertainties surrounding the contentious digital wallet policy. For the initial nine months of 2023, the economy grew by 1.9%. Maybank Securities, based in Malaysia, has reduced its 2023 Thai growth prediction from 2.9% to 2.3%. This decision was influenced…
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Microsoft’s strategic move to establish Thailand as Asia’s AI hub
Microsoft Thailand is set to establish the Land of Smiles as an artificial intelligence (AI) hub in Asia. This strategic move will involve the creation of an AI Centre of Excellence and the development of a cloud data centre region. The Thai government alongside Microsoft, the US tech giant, inked a memorandum of understanding to advance a digital-first, AI-oriented country…
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Free trade agreement: Sri Lanka and Thailand set to seal the deal
With a renewed focus on trade agreements, Sri Lanka is preparing to finalise and sign a free trade agreement (FTA) with Thailand on February 3, next year. The development was announced by Sri Lanka’s Cabinet spokesperson today, November 21, confirming that discussions were on track for completion in December. The impending agreement is part of the island nation’s strategic efforts…
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Q3 slowdown: Thailand economy hits the brakes at 1.5%, falling short of forecasts
With an annual growth rate of 1.5% recorded in the third quarter, Thailand’s economy has shown a slower expansion compared to predictions, according to data released today, November 20. The National Economic and Social Development Council revealed that, from July to September, the economy of Southeast Asia’s second-largest country experienced a seasonally adjusted growth of 0.8% every quarter. However, these…
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DeeMoney partners with SCB to facilitate secure cross-border money transfers, expanding access to the Myanmar market
Sawasdee Shop Co., Ltd., operating as a fintech company, introduced the DeeMoney platform, a robust Thai cross-border transaction system supporting over 26 currencies across 50 countries globally. This company has solidified a business partnership with Siam Commercial Bank, announcing their collaboration to enhance the money transfer service from Thailand to Myanmar. The focus lies in developing cross-border money transfer services…
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Debate over Thai government’s digital wallet handout impact on public debt
The Thai government’s proposed 10,000-baht digital wallet handout has sparked debate, with concerns regarding its potential impact on public debt. Deputy Finance Minister Julapun Amornvivat stated that this economic stimulus is necessary as economic growth has averaged only 2% annually over the past decade, insufficient to support the country’s ageing population in the future. With low GDP growth, the government’s…
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