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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Entertainment venues: Bangkok governor paints the town ‘green’ with 4am nightlife nod
Bangkok Governor Chadchart Sittupunt has given green light approval to entertainment venues to extend their closing time to 4am, provided they implement appropriate safety measures and take into consideration the welfare of nearby residents and young people. He also insisted that clear and transparent operations are better than secretly operating past the legal hours. During a recent executive meeting at…
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FTI urges new regulatory body to curb cheap Chinese imports
The Federation of Thai Industries (FTI) urged the Industry Ministry to establish a novel regulatory body to supervise product standards. The move is intended to curb the influx of inexpensive Chinese imports, which the FTI claims are flooding the Thai market. The FTI did not clarify whether the proposed regulatory body would be governed by the state or the business…
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Thailand land tax act assessment: Fiscal policy office’s evaluation
The Thailand 2019 Land and Building Tax Act (LBTA) is receiving a thorough evaluation for its effectiveness and potential issues in enforcement, according to the Fiscal Policy Office director-general, Pornchai Thiraveja. The investigation is a collaboration between the Finance and Interior ministries and is aimed at understanding the effectiveness of the new land tax collection system, identifying any issues and…
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Thai economy caught in global crossfire as Israel-Hamas tensions fuel price hike fears
The Thai economy, already tested by geopolitical conflicts over the past few years, is facing potential consequences from the hostilities between Israel and Hamas in the Middle East, as governments and corporations all over the world look for excuses and justifications to hike prices to obscene heights. It’s a well-worn tactic last seen in the conflict between Russia and Ukraine…
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Israeli-Hamas conflict sparks fears of disruptions in global oil prices
Price fluctuations in global crude oil have surged by 4% following the Israeli-Hamas conflict. This escalation in oil prices has sparked fears, especially among oil companies, as Montri Rawanchaikul, the Chief Executive of PTT Exploration and Production Plc (PTTEP), voiced worries that the conflict may lead to disruptions in petroleum production in the Middle East. Auttapol Rerkpiboon, CEO of PTT…
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Significant rise in Thai gold prices: ornaments now at 33,500 baht per baht weight
The Gold Traders Association (GTA) announced this morning a significant increase in gold prices compared to the previous day. The increase was reported to be 550 baht (US$15), with the price of gold ornaments set at 33,500 baht per baht weight. This is a marked jump from yesterday’s closing price of 32,305.96 baht per baht weight. The report released today…
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Bank of Thailand maintains 4.4% GDP growth forecast amid stimulus measures
A 4.4% GDP growth forecast for the coming year has been maintained by the Bank of Thailand, factoring in the government’s proposed economic stimulus measures. Assistant Governor Piti Disyatat confirmed this projection following the Monetary Policy Committee’s vote on September 27 to hike the benchmark interest rate by a quarter-point, making it a decade-high 2.5%. The committee, however, reduced its…
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Thailand boosts tourism with free SIM cards and digital privileges for visitors
The Welcome Back to Thailand campaign, a collaborative endeavour by the Tourism Authority of Thailand (TAT) and Advanced Info Service (AIS), is ready to roll out. The initiative is designed to attract international tourists by offering them Amazing Thailand SIM cards, bundled with an array of digital privileges and services. As part of the campaign strategy, TAT plans to distribute…
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Middle East tensions cause gold rush, prices poised to strike US$1,875
The escalating conflict in the Middle East could drive global gold prices to US$1,875 (67,950 baht) per ounce, as predicted by the Gold Traders Association (GTA). The association’s president, Jitti Tangsithpakdi, pointed out that prices have risen by US$20-30 per ounce since the onset of hostilities between Israel and Hamas militants. Gold prices reached a one-week high of US$1,860 yesterday…
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El Niño could trigger three-year rice shortage, warns Thailand’s Commerce Minister
Commerce Minister Phumtham Wechayachai expressed worries over a potential three-year-long impact of the El Niño-induced drought. This prolonged effect could potentially harm rice production and create a shortage in domestic consumption. Phumtham commissioned the Internal Trade Department and Foreign Trade Department to jointly monitor and alleviate the potential impacts of the El Niño phenomenon and the ensuing drought. He voiced…
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SEC considers compensation fund for victims of investment fraud
The newly appointed secretary-general of the Securities and Exchange Commission (SEC) disclosed that the regulatory body is examining the possibility of setting up a compensation fund for victims of investment fraud. This announcement was made during her inaugural press briefing since assuming office the previous month. Pornanong Budsaratragoon emphasised the regulator’s commitment to restoring public trust in the capital market.…
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Imported goods: Thailand bolsters measures to safeguard local businesses
The Thai Industry Ministry is intensifying its measures to thwart the entry of low-priced, inferior imported goods into Thailand in the forthcoming six months, to safeguard local businesses and consumers. The measure comes on the heels of a report highlighting the negative impact of such low-quality imported goods on Thai entrepreneurs across various sectors and consumers, according to Industry Minister Pimphattra…
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Mall’s well in the northeast: Central Pattana pours 3 billion baht into booming secondary cities
Central Pattana Plc (CPN), the retail and property developer and operator of Central shopping centres across Thailand, declared plans to invest 3 billion baht in the development of secondary cities within the northeastern provinces of Nakhon Phanom and Nong Khai. The aim is to enhance these cities’ potential to rival megacities. Tos Chirathivat, Central Group’s executive chairman and chief executive,…
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Tourism turmoil: Troubles in Israel & Bangkok’s bullet blues spell trouble for Thai tourism
The ongoing conflict in Israel and the recent shooting incident at Siam Paragon in Bangkok last week are anticipated to result in a decline in foreign arrivals for the upcoming week, which will have a substantial impact on the Thai tourism industry. Nevertheless, the private sector remains optimistic that the visa exemption scheme will play a crucial role in rejuvenating…
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High-flying headache: Aviation industry faces pilot pinch, needs 650,000 in 20 years
The aviation industry is currently grappling with a global pilot shortage, with an estimated 650,000 pilots required over the next two decades, as per data from the Emirates Flight Training Academy (EFTA). The dearth of pilots is attributed to a scarcity of flight instructors worldwide, said Abdulla Al Hammadi, EFTA’S vice president. The industry is highly competitive, with airlines recruiting…
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Bubbling brilliance: Thai soft drink market fizzes with 16% growth, ending years of flat fizz
The Thai soft drink market has seen a significant upturn, with a growth rate of 16% between September last year and August this year. This surge is a stark contrast to the previous five years’ tepid single-digit growth. The resurgence of food service restaurant operations can be credited for this change. Environmental conditions such as the El Niño phenomenon, which…
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Kaisa Group warns of under 5% recovery rate in potential liquidation
Facing severe financial difficulties, Kaisa Group, a prominent Chinese property developer, has forewarned creditors of a less than 5% recovery rate, should the company be driven into liquidation. This was the chilling forecast laid out by a legal representative for one such creditor who is currently pursuing a lawsuit against the beleaguered company. The revelation was made in a Hong…
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Thai PM assures Hong Kong investors of streamlined business process
Prime Minister Srettha Thavisin yesterday extended a warm welcome to potential investors in Hong Kong, assuring them of Thailand’s readiness to encourage and facilitate investment. While serving as the finance minister, PM Srettha travelled to Hong Kong to meet with significant private entities and explore investment opportunities in Thailand. This visit to Hong Kong marked the beginning of a five-day…
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Israel-Hamas conflict stirs concern in Thai business sector over trade disruption
The ongoing Israel-Hamas conflict has stirred unease within Thailand’s business sector, due to worries about its potential impact on Thai-Israeli trade, valued at around 40 billion baht. Sanan Angubolkul, chairman of the Thai Chamber of Commerce, advised Thai businesses to closely monitor the situation and manage any potential risk. Those trading with the Middle East have been particularly urged to…
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Tourist turmoil: Thailand grapples with 10,000 unexpected Israeli guests amid conflict aftermath
Thailand is currently hosting approximately 10,000 Israeli tourists, a situation that arose due to the recent Israel-Gaza conflict. The country’s Tourism and Sports Ministry is monitoring the effects of this situation on its tourism sector. Sudawan Wangsuphakijkosol, Tourism and Sports Minister stated that while numerous airlines have suspended flights between Thailand and Israel, El Al Airlines, Israel’s national airline, has…
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Thai bonds surge 5.8% amid elevated corporate debenture issuance
Thai bond valuations experienced a notable increase of 5.8% within the first nine months of the year, skyrocketing to a colossal 16.7 trillion baht. This rise was predominantly propelled by government and corporate bonds, as revealed by the Thai Bond Market Association (ThaiBMA). Corporate debentures, a significant part of this upswing, saw an issuance of 825 billion baht from January…
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Inheritance tax law changes aim to reduce economic inequality
A revenue department insider has revealed plans for the adoption of the prime minister’s proposal to make changes to the inheritance tax law. The objective of the amendment is to reduce economic inequality, according to the anonymous source. The source disclosed three key points that form the guidelines for the amendment. The first is the application of the inheritance tax…
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Thailand’s commerce ministry aims for 20% cross-border trade boost
The Commerce Ministry of Thailand has an ambitious vision for the upcoming year – pushing cross-border trade value to 1.2 trillion baht, marking a 20% increase from this year’s estimated 1 trillion baht. Deputy Commerce Minister Napintorn Srisunpang, the overseer of the Business Development Department, Trade Negotiations Department and Foreign Trade Department, disclosed the ministry’s strategy to achieve this. They…
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Thai government’s 5% GDP growth aim deemed optimistic amidst challenges
The administration of Prime Minister Srettha Thavisin aims to boost annual GDP growth by 5%. This goal was unveiled during a policy statement delivered by the premier to the heads of government agencies last week during discussions about the fiscal 2024 budget. However, the World Bank recently cut its growth forecast for Thailand to 3.4% this year and trimmed its…
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Thai CEOs discuss sustainability’s key role in supply chain survival at SX2023
The Sustainability Expo 2023 (SX2023) has illuminated the essential role of sustainability in successful supply chain networks. The Thailand Supply Chain Network (TSCN) Business Partners Conference, also known as the TSCN CEO Panel, took place at the Queen Sirikit National Convention Center as part of the ongoing expo. The key topic of discussion was the self-application of sustainable practices for…
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SET anticipates foreign investor return amid economic policy progress
The Stock Exchange of Thailand (SET) anticipates a resurgence of foreign investors as progress in the nation’s economic policies, baht stability, and economic recovery gains momentum. Over the past eight months, foreign investors have sold more than they purchased, resulting in a net outflow of 22.4 billion baht (US$ 606,388,832). Despite this, the foreign investor trading ratio remained the highest…
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UHG announces 3.1 billion baht investment in new Thai hotel developments
UHG, a prominent developer of hotels and offices, has announced plans to invest 3.1 billion baht in the construction of two new hotels in Ramkhamhaeng and Phaya Thai. The investment supports UHG’s strategy to capitalise on the potential of these areas and cater to the high demand experienced by its nearby hotels. Wutthiphon Taworntawat, the managing director, highlighted the strategic…
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AstraZeneca and Thai agencies collaborate to boost AI in healthcare
The Digital Economy and Society (DES) Ministry and the Digital Economy Promotion Agency (Depa) have joined forces with AstraZeneca (Thailand), a biopharmaceutical company, to boost digital healthcare innovation within the Thai public health system. Their goal is to enhance the quality of life for Thai citizens through the use of cutting-edge technology. The most recent collaboration involves a memorandum of…
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Businesses ride the AI technology wave: Boosting creativity and productivity in Thailand
The world of business has seen a seismic shift as artificial intelligence (AI) takes centre stage. AI technology is being harnessed to enhance creativity and productivity, with millions already reaping the benefits. The rise in AI-powered products from startups and organisations is visibly transforming every industry sector. Canva, a widely used visual communication platform in Thailand, is a prime example.…
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Ford Thailand revs up for turbocharged pickup comeback as year-end season approaches
Ford Thailand, the driving force behind Ford Motor’s presence in the country, is gearing up for a turbocharged comeback in pickup sales as we cruise into the final quarter of the year – a season traditionally revved up for car enthusiasts. This resurgence is expected to shift into high gear thanks to the bumper crop of income flowing in from…
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