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 Top 10 reasons for expats to get a comprehensive health insurance in Thailand
Moving to Thailand offers a prospect full of excitement and adventure, but in the same vein, if any injuries were to occur (and god forbid it does), the local healthcare system can be confusing at first glance for many expats...
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Massage parlours will be allowed to reopen, must track and report customers to government
Post-Covid nightlife in Thailand is likely to be a bit duller than before, but at least “soapie massage” is back on the menu. The Centre for Covid-19 Situation Administration announced today that massage parlours of every description will be allowed to reopen along with bars, pubs and other venues in the next phase of easing restrictions. But, there will be…
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Grab teams up with farmers for fresh fruit delivery service
Local produce farmers and merchants are getting some help distributing fresh fruits from Grab Thailand. The company already has a smart phone application for ride-sharing and food delivery. Now fresh produce will be delivered through GrabMart’s Farmers’ Market feature. At the moment, the fresh fruit delivery is only available in Bangkok with distribution centres at the Or Tor Kor Market…
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PM urges Thai industry representatives to adjust to “new normal”
PM Prayut Chan-o-cha is urging Thai business representatives to accept and adapt to the new way of doing things in the aftermath of the Covid-19 crisis. He was speaking during a meeting with the Federation of Thai Industries, where he called for the private and civil sectors to work with the government to get the economy going again. In talks…
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Price spike for Thai latex, condoms and medical gloves in demand
It’s clear the coronavirus pandemic has lead to a surge in demand for plastic gloves, but demand has also increased for condoms (locked up for 2 months, blah, blah…). The high demand has increased the price of latex and business is booming for companies in Thailand. Malaysia had a significant drop in natural rubber production and The Thai Rubber Latex Corporation…
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Thai Airways staff balk at cuts in perks and benefits
The Labour Ministry will invite the management of Thai Airways International for talks over a complaint submitted on Friday to the ministry by the airline’s labour union over unreasonable cuts in work benefits, especially healthcare welfare. Nares Puengyaem, the president of Thai Airway’s labour union, together with two representatives of State Enterprises Workers’ Relations Confederation , yesterday submitted to…
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Government considering unlocking music venues, meetings today
Thailand’s often flamboyant and occasionally controversial Public Health Minister and Deputy PM, Anutin Charnvirakul, spoke to reporters this morning after significant recent media coverage of the estimated 100,000 musicians still out of work due to the continued closure of the entertainment and nightlife industry. Anutin says he himself was once a musician (yeah, we can see that…) and he “feels for…
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CAAC chief: International flights unlikely before September
Dashing hopes that international arrivals (code for ‘tourist flights’) could resume on July 1, Thailand’s senior civilian aviation regulator says that they’re are likely to resume as late as September. The Civil Aviation Authority of Thailand’s director says none of the airlines he’s met expressed any interest in resuming international flights next month, when the order shutting down the country’s…
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Outrage over 75,000 baht travel allowance for senior execs at Thai Airways
The deputy leader of Thailand’s Democrat Party, Samart Ratchapolsitte, has slammed Thai Airways management for granting senior executives a monthly 75,000 baht “travel allowance”. Posting on Facebook, he decries the allowance granted to anyone holding the position of executive vice president at the long-struggling airline. Thailand’s national carrier, run as a state enterprise until it filed for bankruptcy protection, is…
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Up to 1,000 foreigners per day with smart phone tracking – plan to open Thailand up to foreigners
If approved by authorities, foreigners from low-risk countries will be allowed to enter the country and travel in so-called “travel bubbles” without going through the 14 day quarantine period. They’ll be tracked through a smart phone application to make sure they stay in their “bubble.” The plan is being prepared for an approval from the Centre of Covid-19 Situation Administration…
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Schools, colleges, universities to reopen, restaurants and hotels can serve alcohol from Monday
The spokesman for the Centre for Covid-19 Situation Administration announced yesterday that schools, colleges and other educational institutes will be allowed to re-open on Monday, and alcohol can again be served in restaurants and hotels, but NOT in pubs, bars or other entertainment venues. The national curfew is also being lifted as of Monday. International schools and tuition schools are…
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Economist predicts economy will shrink 8.9% this year, despite easing of restrictions
A leading economist is predicting the Thai economy will contract by 8.9% this year despite the easing of Covid-19 restrictions, far higher than previous estimates from local and international economic pundits. Amonthep Chawla, head of the research office at CIMB Thai Bank says that although Thailand is heading toward the fourth phase of lockdown easing, with more businesses to be…
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Industry panel wants foreign businesspeople allowed back to Thailand
The Joint Standing Committee on Commerce, Industry and Banking is proposing that foreign businesspeople be allowed back into Thailand. The president of the Thai Chamber of Commerce says this can be allowed if the government enacts strict measures to contain the spread of Covid-19, including ensuring every foreign visitor is tested for the virus 48 hours before landing in Thailand.…
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Deputy army chief proposes 15 day trial of lifting curfew
Deputy army chief Nathapol Nakpanit, who is also the deputy of the government’s administrative committee on Covid-19, told the Associated Press this morning the committee has proposed lifting the 11pm-3am curfew for a 15 day trial period. He didn’t give a specific date and spoke in advance of meetings to discuss the anticipated Phase 4 of lifting of restrictions. He…
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Thai Airways petitions overseas creditors not to confiscate its aircraft
Thailand’s beloved but beleaguered national carrier is appealing to creditors in Switzerland, Japan and Germany not to seize its aircraft, while a similar request is being prepared for US creditors. If each country’s court approves the petition, Thai Airways assets will be protected against seizure when they fly into their jurisdictions. In particular, the airline will not risk having its…
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Prison skill centres proposed to help former inmates find jobs
Finding a job can be difficult for someone who has just been released from prison. The Thai government wants to change that. They plan to build skill development centres for inmates and provide tax breaks for companies hiring ex-convicts. Minister of Justice Somsak Thepsutin spoke of the skill centre plans at a meeting over the weekend. The proposed centres are part…
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Beer delivery company hit with 50,000 baht fine for violating Alcohol Control Act
A craft beer delivery company says it’s been fined 50,000 baht for allegedly violating Thailand’s Alcohol Beverage Control Act. Posting on its Facebook page, Beervana says it wants to warn other companies and is also petitioning for the law to be abolished, claiming it’s hurting businesses that are already struggling during the Covid-19 crisis. Under the act, suppliers are forbidden…
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Finance Ministry looking at 3,000 baht ‘travel bank’ in next stimulus round
The Finance Ministry is looking at giving domestic tourists a 3,000 baht ‘travel bank’ to deduct off the cost of participating hotels, restaurants and tourism attractions. This time the restaurants, hospitality options and attractions will need to register for the service while the users won’t need to register. So, a user might check into a 5,000 baht hotel and spend…
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Commerce Ministry announces another round of price drops on staple products
The Thai Ministry of Commerce will soon launch a fourth round of price reductions, which will take place at a district level. The ministry has already received cooperation from the business sector to help those affected Covid-19 by lowering product prices, sometimes by as much as 68%, on 3 occasions, In the fourth round, around 7,100 consumer goods are being…
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Covid-19 crisis sees nearly 100 Koh Samui hotels put up for sale
The economic devastation of the Covid-19 pandemic on Thailand’s tourism and hospitality sectors has been inestimable, with foreign arrivals banned since March and hotels nationwide ordered shut in April. Some around the country have since re-opened but nearly 100 hotels on the tourist island of Koh Samui are now for sale. The president of the Tourism Association of Koh Samui…
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Battered Thai Airways seeks government protection from creditors
Struggling national flag carrier Thai Airways is seeking government support in 4 key areas, including negotiating with foreign creditors and renegotiating contracts with other state enterprises. The director-general of the State Enterprise Policy Office said yesterday that the airline is seeking state help after the Central Bankruptcy Court accepted its request for rehabilitation. The airline also wants the government to…
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Former senior prosecutor says Thai Airways rehab plan will unveil extensive corruption
“…the public would continue to be kept in the dark, while the parasites carried on sucking the blood out of the airline.” A former senior crime prosecutor predicts that the rehabilitation plan for Thai Airways is bound to expose extensive corruption in the management of the stricken airline. Posting on his Facebook page, Wanchai Roujanavong says what’s about to come…
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Electricity discount has been switched off
Yesterday the Ministry of Energy announced that the national electricity discount from March to May, which differed based on the amount of electricity used and size and type of the venue, has ended and will not be renewed. But, at best, the discount was merely a perfunctory political gesture, not a useful saving for most Thai residences. The discount was…
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Government to decide which “red” businesses can reopen in next phase
The Centre for Covid-19 Situation Administration revealed today that the government is now considering which high-risk or “red” businesses will be allowed to reopen under Phase 4 of lockdown easing. CCSA spokesman Dr Taweesin Visanuyothin says that the virus could be with us for months or even years, so the government must carefully consider which “red” high-contagion-risk businesses can reopen.…
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TAT will use domestic tourism as dress rehearsal for international returns
“…the tourism sector will continue to be stifled by disease control measures until a Covid-19 vaccine is developed.” Due to the current ban on international arrivals, extended several times and now in effect until at least July, the Tourism Authority of Thailand has created a strategy to support domestic tourism and “learn from the experience”, as it eases into the…
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Beauty clinic designs special face masks for facial treatments
A skin and beauty clinic has designed a mini face mask for clients getting close-up facial treatments to prevent the spread of the coronavirus and comply with the rules set out by the government. But the mask allows therapists to still get to most of the face so they can apply the same procedures. Waleerat Clinic in Bangkok made re-usable…
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Huge Nike flagship store opens in Bangkok’s Siam Center
A massive Nike flagship store is now open in Bangkok’s Siam Center, with a ‘footprint’ spanning more than 836 square metres of prime retail space in the capital. Intended to showcase Nike’s innovation across multiple product categories, the store offers the brand’s first “Nike By You” in-store customisation service in Thailand. Retailers are now pulling out all stops to lure…
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Developers need to clear stock, heavy discounting in property market
ADVERTORIAL Property prices are expected to decline by double digits in the next few months as Thailand’s property developers begin to offer more sales incentives in response to post Covid-19 markets. A recent survey by leading property portal FazWaz indicated that 50% of Thailand’s property developers are considering discounting at least 20% off minimum benchmark prices. Brennan Campbell, CEO at…
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Major makeover proposed for Pattaya’s Walking Street
… but few are impressed. Images on the Facebook page of Pattaya City reveal plans for a major re-imagining and makeover of one of the resort’s most notable, and notorious, landmarks – Walking Street. Gone are the grotty road, broken pavements and lurid signs and frontages, and in their place will be an easy to navigate walking area fit for…
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New rules for Thai cinemas to re-open in Phase 3
As part of Phase 3 of the easing of Emergency Decree restrictions enacted to fight the spread of Covid-19, cinemas will be allowed to reopen on June 1 (though many operators are unlikely to do so as food and drink are their main revenue source and the movie companies say there are currently no new movies to release…) The Centre…
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Foreigners with work permits to be allowed back into Thailand on case by case basis
Foreigners with work permits or permission from the Labour Ministry (and other some other government agencies) will be allowed to enter the country after registration, under phase 3 of the lockdown relaxation, which begins Monday. The Foreign Ministry made the announcement today. The Foreign Ministry has told Thailand’s foreign chambers of commerce about the relaxation. Eligible foreign nationals are invited…
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