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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Bangkok Bank backs bold India expansion for Thai businesses
Thai businesses have their sights set on India’s booming market, and Bangkok Bank is rolling out the red carpet to support this promising venture. With an eye on India’s rapid economic growth and vast population, the bank’s president, Chartsiri Sophonpanich, calls it “a golden opportunity” for Thai entrepreneurs eager to expand. India’s economy is powering ahead at an annual growth…
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Thailand powers up clean energy game with 3 new hydropower projects
Thailand is set to enhance its clean energy capacity with the development of three additional hydropower dams by the Electricity Generating Authority of Thailand (EGAT). These dams will function as substantial batteries, thanks to a 90-billion-baht (US$2.65 billion) investment aimed at bolstering the country’s electricity supply amid concerns about the intermittency of solar and wind power. Egat is currently conducting…
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Thailand leads ASEAN in gold demand growth amid record prices
Thailand continues to lead the ASEAN region in consumer gold demand growth, as reported by the World Gold Council (WGC). In the third quarter of 2024, Thailand’s gold demand surged by 11% year-on-year, reaching 14.5 tonnes, marking its second consecutive quarter of robust growth. Globally, gold demand remained strong, increasing by 5% from a year earlier to 1,313 tonnes. This…
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Thai and mighty: Thailand’s soft power shines in Shanghai
Commerce Minister Pichai Naripthaphan led a star-studded delegation to the bustling 7th China International Import Expo (CIIE), held from November 4-6 at Shanghai’s grand National Exhibition and Convention Centre. Thailand took centre stage, flaunting its rich soft power in a bold bid to dazzle the international crowd. Opening triumphantly, Pichai inaugurated the Thailand Pavilion to elevate the nation’s global image…
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What can a foreigner own in Thailand?
Ranked as the 6th most expat-friendly country globally, Thailand offers a welcoming environment for international citizens, though some legal restrictions do apply. While Thai law places certain limitations on foreign ownership and investment, these regulations vary depending on the type of asset or business venture you’re interested in. Whether you’re an expat looking to invest in Thailand or planning to…
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Thailand targets 8 million European tourists to boost long-haul numbers
Thailand aims to attract eight million European tourists next year as part of a strategy to boost the number of long-haul visitors to a record 11 million, the Tourism and Sports Ministry announced. This move follows plans to collaborate with airlines and foreign ambassadors to ensure a full resumption of international flights. Tourism and Sports Minister Sorawong Thienthong emphasised the…
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Thai Drinks launches 100m baht campaign to boost local tourism
Thai Drinks Co Ltd, the producer of Crystal Drinking Water, announced a partnership with the Tourism Authority of Thailand (TAT) to launch a significant marketing initiative aimed at boosting domestic tourism. With an investment of 100 million baht, the campaign seeks to engage consumers by linking the consumption of Crystal water to the exploration of Thailand’s natural beauty. From October…
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TBA to the rescue: Thai bankers roll out debt relief plan
The Thai Bankers’ Association (TBA) is set to roll out a major debt restructuring programme to provide much-needed relief to the country’s household debt crisis. The scheme, expected to span three years, will focus on borrowers with a staggering 1.4 trillion baht in debt, covering everything from mortgages to auto loans and small business borrowings. In a bold move to…
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Thailand’s public debt remains sustainable at 64% of GDP
The recent Cabinet meeting focused on the nation’s public debt status, revealing it remains well within sustainable limits. Public debt as of August reached 11.7 trillion baht, accounting for 64% of the country’s GDP, comfortably below the 70% benchmark for fiscal sustainability. Government spokesperson Jirayu Houngsub detailed during the meeting that the Finance Ministry adhered strictly to the public debt…
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LNG prices stable in 2025, easing Thailand’s power tariff adjustments
Liquefied natural gas (LNG) prices are projected to remain stable in early 2025, alleviating some of the pressure on Thai officials as they prepare to calculate a new power tariff for electricity bills from January to April next year. According to the Electricity Generating Authority of Thailand (EGAT), this stability in LNG pricing will influence the upcoming adjustment of the…
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Bitcoin set for record high amid US election and rate cuts
Bitcoin is poised for a potential surge to a new record high this month, driven by expectations of further US policy rate cuts and a potential victory by Donald Trump in the US presidential election, according to insights from Merkle Capital, a digital asset fund manager. Last month, Bitcoin reached US$73,600, marking an increase of over 25% compared to the…
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Thailand to launch 130 billion baht sustainability-linked bonds for 2025
The Public Debt Management Office (PDMO) is gearing up to introduce a sustainability-linked bond (SLB) valued at 130 billion baht for the fiscal year 2025. This move aligns with the country’s commitment to reducing carbon emissions and promoting the use of electric vehicles (EVs). An initial release of bonds worth 20 to 30 billion baht (US$588 to 882 million) is…
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Thai Airways reshuffle: Finance Ministry calls for new managers
Thailand’s Finance Ministry is set to shake up Thai Airways International Plc (THAI)‘s rehabilitation plan, nominating two high-profile officials to join the team managing the troubled national airline’s comeback. In a bid to secure its position as THAI’s primary creditor, the ministry will propose these candidates at a crucial meeting with debtors on Friday, November 8. The nominees, Polchak Nimwatana,…
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Thailand seeks Japanese investment in high-tech sectors
Thailand’s Commerce Minister Pichai Naripthaphan met with Japanese business leaders on November 1 to encourage increased investment in advanced technology sectors, aiming to restore Japan’s position as Thailand’s primary foreign investor. In his first meeting since taking office, Pichai held discussions with Keita Ishii, president of the Japan Chamber of Commerce and Industry (JCCI), alongside executives from major Japanese firms…
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Bank of Thailand board chair decision delayed amid controversy
The selection process for a new board chairman at the Bank of Thailand (BoT) has been delayed yet again, as the independent committee overseeing the choice opted to postpone its decision for another week. They indicated the necessity of more time to fully consider the information presented. This marks the second delay in the decision-making process, following an earlier postponement…
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Commerce ministry urges halt on soyabean oil price hikes
The Commerce Ministry issued a call to edible oil processors, urging them not to increase retail prices, citing no rise in production costs. This follows reports indicating that soyabean oil producers are considering raising the price of bottled soyabean oil. Goranij Nonejuie, Internal Trade Department Deputy Director-General, announced that the department has formally requested the Soyabean and Rice Bran Oil…
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Auto boom: Thailand revving up as global car parts powerhouse
Thailand is racing ahead in the fast lane of auto parts manufacturing in the Asia-Pacific region, speeding towards becoming a crucial export hub for Germany’s esteemed Schaeffler Group. Spotlighting both traditional internal combustion engines (ICE) and the rapidly accelerating electric vehicle (EV) industry, Schaeffler is gearing up for an automotive revolution. Micah Shepard, Schaeffler’s head honcho for vehicle lifetime solutions…
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Poll position: US election could rattle global markets, says ASPS
Asia Plus Securities (ASPS) is urging investors to pay close attention to the forthcoming US election, predicting it is set to send shockwaves through global markets. With expectations of heightened volatility, ASPS has delivered a stern warning: it’s time to back stocks boasting low volatility and stellar third-quarter performances for 2024. Insider tips from ASPS suggest the starched-collar bigwigs at…
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Thailand to boost trade ties with South Asian nations
Thailand is setting its sights on strengthening ties with South Asian countries to enhance trade in food, energy, and human security sectors across the Southeast region. Foreign Affairs Minister Maris Sangiampongsa, during his visit to India, discussed these ambitions following a meeting with Thai ambassadors and consuls stationed in South Asia. Maris highlighted South Asia’s strategic significance, noting that the…
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5 surprising ways Internet of Behaviour impacts daily life and choices of Thais
It’s strange, almost unsettling, how an online ad seems to read your mind. It knows you’ve been eyeing those Onitsuka Tiger sneakers, popular among Bangkok’s fashionistas, even though you’ve barely mentioned it. That, right there, is the IoB at work—the Internet of Behaviours. Picture IoT (Internet of Things), but more invasive. While the IoT connects physical gadgets, like smart lights…
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Thailand embraces AI to lead global economy by 2030
Thailand is rapidly embracing artificial intelligence (AI) technology across public and private sectors, aligning with global technological advancements. This movement was highlighted during a seminar, where experts emphasised the importance of an AI-ready workforce to propel Thailand into the forefront of the AI-driven global economy by 2030. Scheduled as a significant milestone, 2030 is anticipated to witness a global economic…
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GDP on the up: Thailand’s economy gears up for 2.7% ‘Thai’ to growth
Thailand’s Finance Ministry is projecting GDP growth of 2.7% for the current year, with expectations to reach 3% in 2025. The Fiscal Policy Office (FPO) announced that while fiscal measures have been maximally employed to bolster the economy, further support from monetary policy is essential for achieving higher growth rates. During the ministry’s economic briefing, Pornchai Thiraveja, FPO Director-General, reaffirmed…
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Thailand shifts gears to keep diesel costs cruising under control
In a bold move to soothe the sting at the forecourts, the Oil Fuel Fund Office (OFFO) unveiled its plan to keep Thailand’s diesel prices under a breezy 33 baht per litre, even though the current subsidy scheme is revving to a halt. This decision steers from an unexpected upturn in OFFO’s finances, courtesy of plummeting global oil prices. Fiscal…
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Gogolook ‘whoscalls’ the shots: Thai HQ set to scamper into anti-scam market
In a move set to shake up Southeast Asia, Gogolook, the brains behind the Whoscall app, unveiled a brand-new headquarters in Thailand. This bold step is part of the tech giant’s grand plan to dominate the burgeoning global anti-scam arena, expected to skyrocket to a whopping US$129 billion by 2029. Jeff Kuo, Gogolook’s co-founder and CEO, spilt the beans on…
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Thai Oil Plc demands resolution of unpaid wages at Chon Buri project
Thai Oil Plc (TOP) is urging the resolution of unpaid wage issues that have led to protests at its Clean Fuel Project (CFP) in Chon Buri, Thailand. The country’s largest oil refinery by capacity has called upon the parent companies of the construction firms involved to address the payment delays affecting workers on site. TOP engaged the Unincorporated Joint Venture…
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Thailand’s MPI drops 3.5% amid auto, construction slowdown
Thailand’s Manufacturing Production Index (MPI) experienced a decline of 3.5% year-on-year, reaching 92.4 points in September. The Office of Industrial Economics (OIE) attributes this drop primarily to a slowdown in both the automotive and construction sectors. As the final quarter of the year approaches, the uncertainty surrounding the US presidential election might add further challenges. The third quarter saw the…
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BoT inflates hopes: Targets snug 1-3% to turbo-charge economy
In a bold move to turbo-charge Thailand’s economic engine, the Bank of Thailand (BoT) pegged its hopes on keeping inflation between a snug 1% and 3%. The aim is to shift the economy into top gear, with deputy governor Piti Disyatat revealing at the Monetary Policy Forum that they’re targeting headline inflation of 1.2% by 2025. That’s a noticeable bump…
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HSBC Thailand is the big cheese, claims No.1 bank title again
HSBC Thailand once again has proven itself the big cheese of banking, clinching the Best International Bank in Thailand award for the fourth year running from both Euromoney and FinanceAsia. This coveted accolade reflects the bank’s top-notch financial prowess and its solid standing in the Thai market. The accolades don’t stop at Thailand’s borders! HSBC’s domination extends throughout the ASEAN…
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Crime coins: SEC cracks down on crypto laundering in Thailand
In a bold move, the Securities and Exchange Commission (SEC) has thrown down the gauntlet, demanding digital asset operators report suspicious transactions as part of a crackdown on crypto money-laundering scams. This action follows hot on the heels of accusations against iCon Group, a direct sales outfit allegedly involved in laundering dirty money through the stablecoin USDT. The Department of…
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Cloud nine: Equinix boost set to reign over Thailand’s data skies
American tech giant and cloud extraordinaire Equinix is making waves in Thailand with a colossal 16 billion baht investment. This financial injection over the next decade is set to supercharge Thailand’s data centre infrastructure, targeting the surging demand from the bustling CLMVT region, according to Thailand’s Board of Investment (BoI). For those not in the know, the CLMVT region comprises…
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