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 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...
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FTI calls for fair e-commerce platform playing field
The Federation of Thai Industries (FTI) is urging the government to enforce stricter regulations on foreign e-commerce platforms and control the influx of low-cost products into Thailand. This call to action comes after a recent survey revealed that 35.1% of local entrepreneurs experienced a decline in sales due to inexpensive imports sold online. Vice-Chairman of the FTI, Peekthong Thongyai spoke…
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Thai Airways plans rehabilitation exit by mid-2025, banks to benefit
Creditors of Thai Airways International (THAI), particularly Bangkok Bank (BBL) and Krungthai Bank (KTB), are set to benefit from the airline’s planned exit from its rehabilitation scheme by mid-2025. The banks are being provided with several options for debt repayment, according to analysts. In recent reports submitted to the Stock Exchange of Thailand (SET) and the Securities and Exchange Commission,…
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Thailand & Hong Kong aims for ASEAN financial hub status
Thailand is exploring a partnership with Hong Kong to establish a financial hub aimed at connecting ASEAN markets. Deputy Finance Minister Paopoom Rojanasakul announced the initiative after a meeting with Hong Kong’s Financial Secretary, Paul Chan, during the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting in Lima, Peru. The meeting highlighted Thailand’s ambition to become a global financial player, as…
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Thai SMEs boxed in by debt and dwindling demand
Small and medium-sized enterprises (SMEs) in Thailand are on the ropes, grappling with crippling debt and plummeting sales as the country’s economic engine sputters, warns the Federation of Thai Industries (FTI). The financial plight of these crucial businesses is worsening, says the FTI, with government support measures arriving too little, too late. Yet, the federation, the voice of Thailand’s SMEs,…
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Bangkok gets a taste of Seoul: Korean food fest stirs up a culinary coup
In a culinary coup, South Korea’s Ministry of Trade, Industry and Energy teamed up with Kotra to dish out Seoul Food in Bangkok 2024, in the nation’s biggest food extravaganza yet. This mouth-watering event isn’t just about savouring the flavours, it’s a powerhouse meeting for food bigwigs eager to cook up new business deals, starting with Bangkok before taking the…
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Hong Kong urged to innovate for tourist spending boost
Hong Kong businesses need to innovate to attract tourist spending, rather than focusing on the decline in visitor expenditure, a senior official has advised. Warner Cheuk Wing-hing, Deputy Chief Secretary for Administration, highlighted yesterday, October 20, that tourists are still eager to spend but have heightened expectations. “We cannot just complain about why people aren’t spending money. It’s not that…
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Economic waters rise: Thai business sector flooded with challenges
The business sector is facing a stormy crisis this monsoon season as severe flooding batters key economic regions across Thailand. Provinces like Chiang Mai and Chiang Rai have been hit hard, with water levels reaching devastating heights—marking the first time in decades that such catastrophic flooding has occurred. Officials are closely monitoring the Chao Phraya River, issuing early warnings in…
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Thailand’s drought and pests slash coconut yields, prices soar
The Agriculture Ministry revealed that the country’s mature coconut yield is expected to plummet to just 0.86 million tonnes this year, a sharp drop from last year’s 0.94 million tonnes. Blame it on a double whammy of prolonged drought and pesky infestations ravaging the country’s coconut trees. The knock-on effect is already being felt in the markets. Commerce Minister Pichai…
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Gold hits record US$2,698.50 amid Middle East tensions
Gold prices surged to a new record high as heightened Middle East tensions drove investors towards the safe-haven asset, despite mixed economic data from the United States tempering expectations for significant interest rate cuts by the Federal Reserve this year. Bullion increased by 0.2% to US$2,698.50, surpassing the previous all-time high set yesterday by approximately one dollar. This rise came…
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China’s economy grows 4.6% in Q3 amid property downturn
China’s economy experienced a marginally better-than-expected growth in the third quarter, according to data released today. However, the persistent property downturn and weak consumer spending continue to weigh heavily on economic activity, compelling policymakers to contemplate further stimulus measures to invigorate growth. The world’s second-largest economy expanded by 4.6% year-on-year in the July-September period, surpassing the 4.5% forecast in a…
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CIMB Thai Bank targets 200 billion baht in sustainability loans
CIMB Thai Bank (CIMBT) aims to capitalise on the burgeoning demand for sustainability-linked loans, projected to be worth 200 billion baht (US$6 billion) among major local corporate clients within the next two years, particularly targeting the oil, gas, and energy sectors. Jason Lee, CIMBT’s head of sustainability, projects that around 300 large Thai corporations will seek transition financing over this…
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Thailand, US bolster trade ties with focus on high-tech investments
Commerce Minister Pichai Naripthaphan and US Ambassador Robert F. Godec yesterday engaged in discussions focusing on trade tariffs and investment in high-tech sectors, aiming for strategic alignment. During their meeting yesterday, October 17, Pichai emphasised that the talks were crucial for establishing a strategic partnership and bolstering economic ties between Thailand and the US, enhancing both bilateral and investment relations.…
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Thailand’s domestic tourism revenue to hit 970 billion baht
Festive events and new stimulus campaigns are set to boost domestic tourism revenue in Thailand to between 950 billion and 970 billion baht (US$28.6 and US$29 billion) this year, according to the Tourism Authority of Thailand (TAT). Despite these efforts, the target of 1 trillion baht (US$30 billion) will likely be missed due to a sluggish economy and the impact…
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All aboard: Vietnam charts a 7.2 billion baht track to China
Vietnam announced an estimated cost of 179 trillion dong (US$7.2 billion) to build a new railway connecting it with China‘s Yunnan province. The proposed 427-kilometre railway will traverse from Lao Cai province, through Hanoi, and extend to the port city of Haiphong and Ha Long City, according to the Vietnam News Agency. The country is actively pursuing the upgrade of…
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Billion-baht investment boosts Pattaya’s Terminal 21 mall
The bustling beachside retreat of Pattaya is about to see its shopping scene taken to new heights. Land and Houses (LH), one of the country’s largest property developers, announced a massive 5.7 billion baht investment in its Terminal 21 Pattaya shopping mall, proving that the city’s economic potential is glowing as bright as its beaches. Terminal 21 Pattaya, which opened…
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High-end hotels check in higher rates amid rising tourist numbers
High-end hotel operators are poised to increase room rates during the High Season as tourist numbers are anticipated to rise in the coming months, while mid-tier and lower-tier hotels continue to face challenges. The hotel operator sentiment index reveals this trend. Thienprasit Chaiyapatranun, President of the Thai Hotels Association (THA), reported that the average occupancy rate in September was 55%,…
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Thailand and Laos spark cross-border renewable energy scheme
Thai officials are set to engage in discussions with the Laotian government to enhance the utilisation of renewable energy across borders, aiming to expedite the reduction of carbon dioxide emissions. The plan involves encouraging Thai businesses to purchase renewable power from Laos through a cross-border energy attribute certificate scheme, according to an official from the Energy Ministry who requested anonymity.…
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Powering on: Thailand energy plan sparks a 2.9 trillion baht boost
Thailand’s new National Energy Plan (NEP) aims to drive significant investment and promote clean energy, with a projected 2.9 trillion baht in capital spending over the next 13 years. Central to this initiative is the emphasis on solar energy to reduce carbon dioxide emissions. The NEP 2024, scheduled for implementation from this year until 2037, integrates a comprehensive power development…
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Sky’s the limit: TC Space Connect orbits to victory in satellite bid
The National Broadcasting and Telecommunications Commission (NBTC) has selected TC Space Connect, a subsidiary of Thaicom, as the winning bidder for the two remaining satellite orbit packages. This decision follows an extensive review by the bid selection committee, which concluded that TC Space Connect was the sole contender for the licences. NBTC’s timeline was slated yesterday, October 16, for finalising…
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Nok Air takes off again: Ready to ‘baht’ back in business
Nok Air is plotting a major comeback, with a 5 billion baht cash injection on the cards for 2025. The Thai low-cost airline, which entered business rehabilitation in 2021, is now eyeing an exit in 2026, as CEO Wutthiphum Jurangkool outlines a path to financial recovery. In an interview with Bangkok Business, Wutthiphum revealed the funds will be used to…
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Thailand’s SMEs to receive 1.9 billion baht support fund
Industry Minister Akanat Promphan is advancing initiatives to assist small and medium-sized enterprises (SMEs) in mitigating financial pressures and enhancing their technological capabilities to remain competitive. The Industry Ministry’s broader objective is to reform Thailand’s manufacturing sector, according to Akanat. To this end, the ministry plans to provide financial aid through its SME development fund, aiming to alleviate the financial…
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Tax exemption for corporate insurance payouts amid flood recovery
The Cabinet has sanctioned a tax exemption for corporate income derived from insurance payouts for policyholders impacted by this year’s floods. Government spokesman Jirayu Houngsub announced after the Cabinet meeting that companies in flood-affected areas with insurance coverage against floods will have their insurance payouts exempted from income tax, as per the Finance Ministry’s directive. For business operators needing loans…
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Commerce Ministry launches economic recovery plan to aid SMEs
The Commerce Ministry is collaborating with government agencies in Thailand to roll out a nationwide economic recovery initiative over five months, aimed at assisting small businesses, easing expenses, and reducing the cost of living. Commerce Minister Pichai Naripthaphan convened with over 150 representatives from private sector organisations to jointly launch the project. The discussions incorporated cooperation from both public and…
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Brick by brick: ONEAM builds investor excitement with TIREIT launch
ONE Asset Management (ONEAM) is digging foundations in the investment world, launching the Thai Industrial Real Estate Investment Trust (TIREIT) for investors seeking fresh opportunities amidst a shifting financial landscape. With high interest rates finally shifting into the rear-view mirror, savvy investors are turning to alternative assets like TIREIT to spread their risk. Chief executive Pote Harinasuta has revealed that…
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Kao Thailand celebrates 60 years of clean streaks, happy households
Kao Industrial (Thailand) Co., Ltd., is rolling out the red carpet for its 60th anniversary, celebrating six decades of serving Thai households with beloved brands like Attack, Magiclean, Haiter, Curel, and Laurier. As the first overseas arm of Japan’s iconic Kao Corporation, established in 1964, Kao Thailand has been banging the drum for hygiene & protection while upping the ante…
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Fuel’s gold: Bangchak to fry high with sustainable jet fuel from cooking oil
Bangchak Corporation, one of the big dogs on the Stock Exchange of Thailand (SET), is turbocharging its efforts to collect used cooking oil, aiming to transform it into sustainable jet fuel (SAF) by next year—a first-class upgrade for greener skies. BSGF, Bangchak’s SAF-producing brainchild, has penned a memorandum of understanding (MoU) with New Biodiesel to scoop up used cooking oil…
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Thai execs ‘gen’-erate buzz, placing big bets on AI for success
In a bold business move, executives in Thailand are betting big on generative artificial intelligence (GenAI), catapulting it to the top of their corporate agendas, reveals a sizzling study by global CRM giant Salesforce. Amidst economic turbulence, Siddharth Rastogi, Salesforce’s vice-president for the ASEAN, insists it will work. “We’ve got the magic mix for AI adoption, thanks to the nation’s…
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Bank of Thailand to keep rates steady amid US Fed caution
Analysts predict the Bank of Thailand will maintain its policy rate during its meeting tomorrow, citing a recovering domestic economy and potential changes in US Federal Reserve interest rate cuts if inflation revives. Chaiyot Jiwangkul, head of research at Krungsri Securities (KSS), attributed the economic rebound to increasing tourist arrivals, government budget disbursements, and a 10,000-baht (US$300) cash handout to…
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Middle East tensions threaten Thai economy with rising oil prices
Geopolitical tensions in the Middle East are having a significant impact on the Thai private sector, as the prolonged conflict between Israel and Hamas extends beyond a year. The ongoing Israeli offensive has led to rising oil prices and shipping blockages, which threaten to affect the Thai economy by increasing inflation and prompting higher interest rates in countries like the…
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Rain check: Hua Hin and Cha-am tourism ready for holiday splash
Heavy rain in Hua Hin and Cha-am are anticipated to impact tourism during the upcoming three-day holiday, potentially worsening domestic sentiment. The Tourism Authority of Thailand (TAT) identified natural disasters as a critical factor to monitor during the high season. Earlier this week, continuous rainfall led to flooding in Cha-am, Hua Hin, and parts of Phetkasem Highway, with water levels…
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