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’s car production hits brakes, sees 15.75% drop in December
Thailand’s car production experienced a significant drop of 15.75% in December, compared to figures from the previous year, marking the fifth consecutive month of decline, according to the Federation of Thai Industries (FTI). The downturn resulted in only 133,621 units being produced, largely due to a reduction in pickup truck output. This figure is a stark contrast to November’s year-on-year…
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Hong Kong court orders liquidation of China’s indebted developer Evergrande
China’s most indebted property developer, China Evergrande, was ordered to liquidate by a Hong Kong court today, a move that could potentially destabilise the already trembling Chinese capital and property markets. The liquidation process could be intricate due to the multiple authorities involved and the potential political implications. Following the order for liquidation, a provisional liquidator will be appointed, followed…
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Thai jewellery industry urged to focus on sustainable manufacturing
The Gem and Jewellery Institute of Thailand (GIT) urged Thai jewellery producers to bolster their focus on sustainable manufacturing. The call to action comes amid growing customer interest in the ethical and environmental considerations of the industry. GIT, an agency of the Commerce Ministry, emphasised that while the industry primarily centres around design and the ability to refine uncut jewels,…
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China’s Lunar New Year tourism surge unlikely to reach pre-pandemic levels
Anticipations are high for an increased number of Chinese tourists venturing abroad during the forthcoming Lunar New Year. However, industry analysts predict the numbers will not reach the pre-pandemic levels due to the prevailing uncertain economic situation and evolving consumer trends. A significant surge in passenger traffic during the 40-day festive travel period, known as Chun Yun, is suggested by…
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Thailand gold prices take a slight tumble
Gold prices in Thailand saw a slight decrease at the start of the week. According to the latest figures from the Gold Traders Association (GTA), the price of gold jewellery is now set at 34,550 baht per baht weight as of Monday, representing a 50 baht drop from the previous day’s close. The domestic gold market experienced a minor adjustment…
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Bitcoin ETFs surge after US SEC approval boosts annual ROI
Having received approval from the US Securities and Exchange Commission (SEC) for 11 Bitcoin exchange-traded funds (ETFs), the cryptocurrency is seeing a resurgence, boosting its annual return on investment by over 150%. This surge has been aided by a predicted Bitcoin halving in April, leading to the cryptocurrency reclaiming its top position for asset annual ROI. The decision by the…
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Thailand’s Land Bridge project eyed for boosting economy amid local concerns
Thailand’s Land Bridge project, a major infrastructure initiative resembling a proposed shortcut through Southeast Asia, dominated the recent mobile Cabinet meeting in Ranong. Residents expressed apprehensions to Prime Minister Srettha Thavisin, highlighting potential environmental damage and disruptions to their lifestyle. In the face of forecasted stagnant GDP growth, the government views the Land Bridge project as a promising solution for…
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Red sea conflicts could disrupt global trade, Thai economy at risk
The business world is on high alert as the ongoing conflicts in the Red Sea and the Israel-Hamas war pose potential risks to the global economy. The strategic planning unit of the Commerce Ministry is urging stakeholders to keep a close watch on the situation and its potential implications. The conflicts could bring both direct and indirect negative impacts on…
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NocNoc leverages AI for personalised consumer experiences with IPO planned for 2028
NocNoc, the e-marketplace specialising in home products and services, leverages artificial intelligence (AI) to deliver personalised online and offline consumer experiences. The platform is expanding into new lifestyle categories to tap into the home and living market, estimated to be valued at around 450 billion baht. Better Bee Marketplace Co, the firm behind the platform, anticipates an initial public offering…
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Rental woes: KCar sees slowdown as lending rules put brakes on second-hand marke
KCar, formally known as Krungthai Car Rent & Lease Plc, anticipates a deceleration in the second-hand car and car rental markets as financial institutions continue to enforce stringent lending criteria. This is attributable to high levels of household debt and subdued purchasing power. Pichit Chantarasereekul, the managing director of KCar, highlighted that banks are increasingly cautious due to the high…
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Nex point projects commercial EV sales to hit 5,556 by 2024
Nex Point, a SET-listed local assembler of commercial electric vehicles (EVs), is forecasting sales to hit 5,556 units by the end of 2024. This projection stems from an increased demand from businesses operating in the transport and logistics industries. A rise in such interest is tied to these sectors’ growing commitment to lower carbon emissions. Between January and September of…
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Thai travel agents expect Chinese tourist surge during Lunar New Year
The Association of Thai Travel Agents (ATTA) anticipates a surge in Chinese tourists during the Lunar New Year holiday, estimating daily arrivals of 20,000 to 25,000. ATTA President, Sisdivachr Cheewarattanaporn, attributes this boost to enhanced charter and scheduled flights, alongside the visa-free scheme designed to spur Chinese demand. Chinese arrivals have shown a marked increase this year, averaging 15,000 to…
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Pressure mounts on Bank of Thailand to reduce high interest rates
Thailand Deputy Finance Minister Julapun Amornvivat expressed concern that the country’s current interest rates are excessively high, putting strain on citizens’ disposable income and stunting the nation’s economic growth. This stance encourages the Bank of Thailand to reconsider its monetary policies. “The Thai people’s spending power is in jeopardy due to these high rates. I hope the Bank of Thailand…
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DeeMoney’s ‘PIN TO SUCCESS’: a roadmap to greater success
“To operate a successful business, you need to have the right products and services and know how to apply innovations to better serve the market and heighten your success. More importantly, be flexible and always ready to adjust your plans in line with your goals.” – Aswin Phlaphongphanich, CEO and Co-Founder, DeeMoney. DeeMoney is a leading Thai fintech company specialising…
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Elon Musk warns Chinese automakers set to drive global rivals off the road
Tesla CEO Elon Musk issued a stark warning, predicting that Chinese automakers will demolish global competition if trade barriers are not enforced. This statement highlights the intense pressure the leading American electric vehicle (EV) company faces from Chinese rivals such as Build Your Dreams (BYD), which are rapidly expanding their global presence. Musk’s warning follows recent developments where BYD, supported…
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Thailand’s retail sector expects double-digit growth driven by private consumption and online retail
Anticipating a robust year ahead, Thailand’s retail sector is poised for a double-digit expansion. The growth is primarily spurred by a surge in private consumption and the government’s stimulus measures, such as the Easy E-Receipt tax refund scheme and a boom in online retail. However, the rising cost of living is a cause for concern, as stated by the Economic…
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Rising Red Sea tensions to spike freight rates warns EconThai
Global supply chains are bracing for further potential disruptions, as rising tensions in the Red Sea are projected to escalate freight rates in February, according to the Employers’ Confederation of Thai Trade and Industry (EconThai). The organisation has already noted an increase in freight rates by 1.89 to 2.42 times, a trend expected to persist should the tensions continue. Tanit…
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Thailand’s new green utility tariff boosts renewable energy use
The unveiling of a Green Utility Tariff (GUT) next month is set to bring about a significant progression in renewable energy use within Thailand, bolstering local businesses and attracting foreign investment. This move has been eagerly awaited by numerous companies considering expansion into Thailand, as they seek not only the necessary infrastructure but also a source of clean energy to…
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Bangkok gears up for eighth round of FTA talks with EFTA
Bangkok is preparing to host the eighth round of free trade agreement (FTA) discussions with the European Free Trade Association (EFTA), scheduled to take place from January 30 to February 2. The Thai government aims to wrap up the negotiations by the middle of this year. Chotima Lemsawasdikul, the director-general of the Trade Negotiations Department, has confirmed that the discussions will…
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Thailand aims to be among top five Asian tech ecosystems
Aspiring to rank among Asia’s top five tech ecosystems within the next decade, Thailand is currently focusing on the development of smart industries, particularly in tourism, healthcare, agriculture, and manufacturing, according to a statement by a corporate innovation accelerator. Dr Kid Parchariyanon, CEO and co-founder of RISE, the accelerator, insisted that the adoption of artificial intelligence (AI), along with nurturing…
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Thai government insists on land bridge project amidst criticism, seeks international investors
Despite facing criticism, the Thai government remains determined to proceed with its Land Bridge project, inviting foreign investors and prioritising environmental implications, especially in headwater regions. Government spokesperson Chai Wacharonke, addressing a mobile Cabinet meeting in Ranong, confirmed the government’s intent to engage foreign investors post the project’s promotion by Prime Minister Srettha Thavisin at three international events. These included…
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JKN Global sells 50% Miss Universe stake to Legacy Holding for US$16m
In a bid to deal with its ongoing financial struggles, JKN Global Group Plc, a renowned local media company, has decided to offload a 50% stake in its Miss Universe business. The stake, valued at US$16 million (570 million baht), will be purchased by Legacy Holding Group USA Inc. The group, which is under the control of Mexican businessman Raul…
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Thailand’s minister calls for industrial sector transformation
Thailand Industry Minister Pimpatra Vichayakul likened the nation’s industrial sector to a sleeping tiger ready to awaken and roar, emphasising the need for a transformation towards S-Curve industries. This declaration came during the Thailand 2024: The Great Challenges seminar held yesterday, January 23, at the Pullman King Power Hotel in Bangkok. Pimpatra highlighted the government’s role in supporting local and…
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Southeast Asia capitalises on China’s Australian lobster ban
The protracted ban on Australian rock lobsters by Beijing has prompted Southeast Asian countries to capitalise on the opportunity, increasing their seafood exports to China. As the ban continues, the shift in sourcing may become irreversible, experts predict. New Zealand currently dominates the Chinese market for rock lobsters, holding nearly 40% of the total market share, based on data from…
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Chememan signs Khimsar agreement to become major lime producer in India
Chememan Public Company Limited (CMAN), a leading lime producer, inked the Khimsar Agreement with Khimsar Mine Corporation (KMC), marking its initiative to set up a state-of-the-art lime factory in Khimsar, Rajasthan, India. This endeavour positions CMAN on the path of becoming a significant lime producer in India. The agreement was signed with KMC, a fresh entrant in the Indian mining…
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Thachang Green Energy projects major expansion by 2026 with new power plants
Thachang Green Energy (TGE), an operator and developer of biomass power plants listed on the Stock Exchange of Thailand (SET), projects a significant business expansion between 2025 and 2026. This growth is attributed to the additional power generation capacity from imminent power plant projects. While no capacity increment is planned for this year, TGE predicts a revenue surge of over…
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SEC considers banning NVDR securities for Thai investors
With plans to limit Thai investors from making investments in non-voting depository receipts (NVDRs), the Securities and Exchange Commission (SEC) is setting up a public hearing to enforce a ban on securities companies offering such services. Citing concerns over NVDR securities as a mechanism to sidestep compliance with regulations or as a means to obscure shareholding data, the SEC believes…
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Thailand’s tasty revival: Spending spree at food shows signals economic upswing for MICE sector
A surge in spending at food and packaging trade shows indicates a revival in the economy and a favourable trend for business tourism this year. Thailand remains a favoured location for the meetings, incentives, conventions and exhibitions (MICE) sector, according to Informa Markets Thailand, a leading trade show organiser. Kotchasorn Tocharoentanapol, the Deputy Event Director at Informa Markets Thailand, noted…
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Mobile Cabinet allocates 552 million baht for Andaman Coast development
A total of 552 million baht (US$15 million) has been allocated by the mobile Cabinet towards the development of 18 new projects across six southern provinces on the Andaman Coast. Prime Minister Srettha Thavisin announced yesterday, January 23, after a Cabinet meeting in Ranong. The projects, proposed by the Joint Public and Private Sector Consultative Committee responsible for the southern…
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Thailand’s media spending to see 4% growth driven by online and TV
Anticipating a 4% growth in media spending this year, mirroring the trend from 2023, the market is set to be driven by online, TV, and out-of-home media. This predicted growth is attributed to political stability and economic stimulus initiatives introduced by the government. The burgeoning e-commerce platform landscape has catapulted affiliate marketing into a key media tool for brands. This…
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