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 9 most common health issues covered by insurance for expats in Thailand
Thailand is a popular destination for expats due to its affordable lifestyle and excellent healthcare system. However, settling in a new country often brings health concerns. To ensure you’re covered for the most common medical needs, understanding what expat health...
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Phuket Business: OTOP fair to showcase local products
PHUKET: No less than 15 million baht is expected to be circulated during the “OTOP City – Four Regions” fair, an event that will showcase up to 200 booths selling quality local products from Phuket and across the country. The fair being held at the Saphan Hin fair-grounds, in Phuket Town (click here for map), commenced on Friday and will…
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Phuket Business: Fill “er up with gasohol please
PHUKET: Due to the discontinuation of the supply of pure Benzine (91-octane) petrol nationwide, the consumption of gasohol in Phuket this year is expected to increase by at least 50%.Rattakorn Klinchan, head of research at the Phuket Energy Office, affirmed that supplies of pure Benzine 91 were discontinued nationwide on January 1, with most Phuket stocks already drying out this…
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AMCHAM taxation seminar for Americans
PHUKET: If you are an American and are baffled by the US tax regime on overseas residents, then you do not want to miss an AMCHAM – the American Chamber of Commerce – seminar on March 8 at the Holiday Inn Patong. John Andes, tax partner at KPMG Thailand, will provide an overview of US taxpayers’ 2012 US income tax…
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Phuket Business: How expats can simplify their finances
PHUKET: Moving to another country to work or retire, like Thailand, can be a daunting undertaking that will inevitably make managing your finances more complicated and time consuming. With that in mind, here are a few tips to help you simplify your finances so you can quickly start enjoying your new life as an expat:Consolidate your financial accounts:If you have…
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Phuket Business: Makro opens new branch in Patong
PHUKET: Membership-base, wholesale food retailer, Siam Makro PCL has expanded its Phuket operations with the opening of its Makro Food Service branch in Patong. Located in the area of the Mae Ubon Derm fresh market on Nanai Road in Patong, the new branch is the second Makro store on the island. Its retail area spans a total 1,000 square meters,…
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Phuket Business: Alien labor window extended
PHUKET: Employers of ‘low-skill migrant workers’ in Phuket and across Thailand have until March 16 to have their respective employees registered under the National Verification (NV) process, the Phuket Labor Office has confirmed. Applying specifically to temporary laborers from Myanmar, Cambodia and Laos, the latest NV deadline is an extension of another extension. The Phuket Gazette reported last week online…
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Rose vendors absorb inflation for ‘day of love’
PHUKET: Flower vendors across Phuket are relishing increased orders and sales for the ‘day for lovers’, even despite rising prices. Pran Supasri, a flower shop owner near Vachira Hospital says, “Rose prices have not increased significantly when compared to last year’s price.” He added that even though the price of roses has increased slightly ahead of Valentine’s Day, flower vendors…
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Phuket Finance: Beat inflation with a low-risk return
PHUKET: One fund that I have recently been putting into portfolios is the Freehold Income Trust (FIT), which invests in ground rents. Ground rents are a relic of feudal Britain, which can now be bought and sold like any other asset. They are extremely safe income-yielding alternative investments, since the holder of ground rent could theoretically repossess a property worth…
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Phuket Business: Inflation up for Chinese NY
PHUKET: The head of the Department of Internal Trade (DIT) Phuket Office said that the 300 baht daily minimum wage has contributed to market inflation ahead of the Chinese New Year festivities. DIT-Phuket Chief Supacha Bunthalit told the Phuket Gazette that increased wages directly increase base costs for farmers, suppliers and vendors. “Of course it [the minimum wage rise] is…
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Myanmar urges expedited processing of its migrant workers in Thailand
BANGKOK: Myanmar has urged Thailand to speed up registration of its citizens working in the Kingdom, with nearly one million workers and hundreds of thousands of their children still undocumented as the deadline draws near. Myint Thein, Myanmar’s deputy labor minister, was in Thailand last week to monitor progress of the government’s scheme to register millions of migrant workers. Thailand,…
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Local officials step up talks, spending for ASEAN economy
PHUKET: Local officials continue to intensify dialogue, and thus anticipation for the 2015 ASEAN Economic Community (AEC), with the economic positioning for Phuket and the Southern region gradually beginning to take form. The latest ‘AEC – Phuket get ready’ talks, held last week at the Phuket Provincial Hall, covered the latest regional economic integration challenges and opportunities. Phuket Governor Maitri…
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Phuket Finance: UK pension transfers – Gibraltar
PHUKET: Since the QROPS (Qualifying Recognized Overseas Pensions Scheme) legislation was introduced on April 6 2006, an individual transferring their pension overseas does not have to transfer their funds to the same country or jurisdiction as they are retiring to. This opened the doors for many pension providers in several jurisdictions, predominantly the channel island of Guernsey, to offer QROPS…
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PATA meeting questions whether Thai culture is good for tourism
PHUKET: Despite the various shortcomings in Thailand’s service industry, tourists keep coming back, two Thai journalists recently told a tourism meeting in Bangkok. Attending the meeting, Ken Scott, Managing Director of his own communications firm, ScottAsia Communications, reports: Thailand is a like a cunning cheer leader, a good looker, an easy date who cheats at her exams and gossips about…
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Phuket Moevenpick to increase Thai occupancy
PHUKET: Moevenpick Resort Bangtao Beach, a luxury boutique hotel in Phuket, aims to raise its profile in the local arena by increasing the proportion of Thai guests to about 5% this year, up from a tiny slice at present.The hotel opened officially in mid-2011. The new strategy is part of the operator’s plan not to rely too heavily on foreign…
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Phuket absorbs Southern langsat surplus
PHUKET: The island’s supply of langsat (Lansium domesticum) has increased by 10 tonnes over the past few weeks due to a late-season harvest surplus in and near Thailand’s Deep South. Since about mid-January, several agriculture groups from Yala, Songkhla and Phatthalung have travelled to Phuket to sell the fruit wholesale, with the Phuket Office of Commercial Affairs (POCA) serving as…
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Phuket Property: Thai hotels benefit from local software
PHUKET: About 1,000 member hotels of the Thai Hotel Association (THA) are benefiting from a locally developed room reservation technology that is changing the way hotels in Thailand do business online, keeping them ahead of the game in the global hospitality industry. The new ‘Software as a Service’ for independent hotels is the result of a recently formed exclusive partnership…
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Phuket Business: Luxury auto dealer aligns brand with international football lovers
PHUKET: Football players from Phuket FC recently visited the TSL Auto Corporation (TSL) premium imported car showroom to thank the company for officially sponsoring the team in the upcoming Thai Yamaha One (Division 1) 2013 season. Phuket FC’s head coach Panipol Kerdyam made a personal appearance, alongside players Nontaphan Jiensathawong, Nenebi Tre Sylyee Tre, Luiz Eduardo Purcio, Girogi Tsimakuridze, Kritsada…
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Phuket Business: Virtually exposed
PHUKET: Although the concept of 360-degree virtual tours has been around for almost as long as the world-wide-web itself, such technology has only recently begun to yield its true potential. Thanks to the advent of developments in global positioning systems (GPS), camera technology and improved user interfaces, businesses the world over are poised to reap a plethora of benefits. Speaking…
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Phuket Business: New car owners due B1.2bn
PHUKET: More than 14,300 new car owners in Phuket took advantage of the government’s first-car rebate scheme, with the combined value of due rebates amounting to more than 1.2 billion baht. According to figures from the Phuket Excise Department (PED), a total of 14,327 eligible applications were filed in the province from September 16, 2011 to December 31, 2012. These…
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Banking for Phuket Expats carries special charges, risks
PHUKET: For expats in Phuket and across Thailand who intend to stay permanently or for most of the year in the country, opening a Thai bank account makes financial sense. After all, except for a few ATMs owned by AEON (a large Japanese conglomerate) and Citibank, Thai ATMs will charge a 150 baht fee per foreign transaction and there are…
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Phuket Business: FDI shifting from China to ASEAN
PHUKET: Rising costs from higher wages and currency appreciation in China over the last two decades are prompting multinationals to look at expanding elsewhere, with ASEAN countries – particularly Vietnam – poised to benefit most. A recent report published by HSBC Global Research, titled “The great migration – how FDI [Foreign Direct Investment] is moving to ASEAN and India”, outlined…
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Phuket Business: MICE to bring in “the cheese’
PHUKET: THE Kingdom’s central planning authority for inbound corporate and organizational tourism expects to generate 180 billion baht from Asian and Oceanic MICE (Meetings, Incentives, Conferences and Exhibitions) events over the next three years. The Thailand Convention and Exhibition Bureau (TCEB) recently drafted a three year MICE marketing strategy. The new strategy effectively replaces last year’s “Seven Wonders of the…
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Phuket Finance: UK bill reassures QROPS retirees
PHUKET: With the recent release of the draft finance bill for 2013, the UK government has eased worries of the QROPS (Qualified Recognized Overseas Pension Schemes) industry that new legislation might close down the market. Last year, offshore pension providers were quite shocked when HMRC (Her Majesty’s Revenue and Customs) removed overnight the ability of expat retirees to transfer their…
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Phuket Business: Coping with labor costs
PHUKET: As labor-intensive industries adjust their operations in order to cope with the nationwide 300 baht minimum daily wage, efforts include trimming logistics costs, improving production efficiency and hiring only skilled workers.Tawee Piyapattana, president of Pacific Fish Processing Co, which specializes in the production of frozen seafood, says the company, which employs 3,000 people, will not lay off personnel but…
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Phuket Business: The sweet taste of success at Vanich Sweetcorn Farm
PHUKET: Mr Apirag Vanich is the owner of the Vanich Sweetcorn Farm, which produces corn-based foodstuffs and drinks including; corn milk; boiled corn, fresh sweet corn and baby corn.They also produce three healthy drinks which are; butterfly pea flower tea, corn silk tea and mulberry juice. Vanich Sweetcorn Farm, spread out over an area of about 67 rai, uses modern…
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Phuket Finance: Endurance and persistence
PHUKET: Recently Phuket saw some of the best triathletes in the world descend on the island to participate in the Laguna Phuket Ironman 70.3 Triathlon. While I am extremely slow, I am a very keen endurance athlete. I do this race every year, as well as the marathon here, and am currently registered for my second full Ironman race next…
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Phuket Business: Reusable future
“We live in a world where every 12 seconds, a child dies because of dirty water and insanitation. CO2 continues to build up and forests are depleting. We live in a resource-constrained world. There are limits.” – Peter Bakker.PHUKET: These chilling words from Peter Bakker at a recent Bangkok symposium held by the World Business Council for Sustainable Development (WBCSD)…
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Phuket Business: Say it in Chinese
An exclusive interview with the Kopi Chinese Language Training Center reveals some of Phuket’s past and looks towards the future of foreign language learning. PHUKET: The business of education in Phuket continues on an upward trend, with one local Chinese language center preparing for the integration of the Asean Economic Community (AEC) in 2015. The Phuket Gazette’s student intern Wisuwat…
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Phuket Business: British Airways – 79 years of service to the Kingdom
PHUKET: After 79 years of service to Thailand, British Airways (BA) says it still sees the Kingdom as an important market because more executives, especially from small and medium-sized enterprises (SMEs), will fly out to ink business deals.The airline will use its strong network to connect local businessmen not only to its home base in London, but also to other…
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Phuket Business: New “liberalization’ of aviation manufacturing
PHUKET: A new government initiative to allow foreign investors to hold 70 per cent or more of a company manufacturing aviation parts will help promote Thailand as a regional repair center for the industry, says an executive at Thai Airways International.Danuj Bunnag, executive vice president of THAI’s commercial department, welcomed the plan and said it would help strengthen Thailand’s performance…
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