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 12Go introduces Japan Rail Passes to enhance travel accessibility for international travellers
For those who have travelled throughout Thailand, 12Go is a well-known provider of various trips, though the platform itself has a much wider reach. Ranging from buses to planes, 12Go is undoubtedly a leading booking platform for travel throughout the...
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Cash ‘n’ climb: Thailand GDP rises but 2026 could be a steep drop
Thailand’s GDP forecast has been upgraded for this year and next to 2.8% and 3%, respectively, due to the government’s cash handout boosting the economy. However, analysts warn of an economic cliff in 2026 if no new growth engines are introduced. Kiatnakin Phatra Research (KKP) and BofA Global Research have both raised their Thai GDP outlooks for 2024 from 2.6%…
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Thailand and Laos spark cross-border renewable energy scheme
Thai officials are set to engage in discussions with the Laotian government to enhance the utilisation of renewable energy across borders, aiming to expedite the reduction of carbon dioxide emissions. The plan involves encouraging Thai businesses to purchase renewable power from Laos through a cross-border energy attribute certificate scheme, according to an official from the Energy Ministry who requested anonymity.…
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Powering on: Thailand energy plan sparks a 2.9 trillion baht boost
Thailand’s new National Energy Plan (NEP) aims to drive significant investment and promote clean energy, with a projected 2.9 trillion baht in capital spending over the next 13 years. Central to this initiative is the emphasis on solar energy to reduce carbon dioxide emissions. The NEP 2024, scheduled for implementation from this year until 2037, integrates a comprehensive power development…
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Sky’s the limit: TC Space Connect orbits to victory in satellite bid
The National Broadcasting and Telecommunications Commission (NBTC) has selected TC Space Connect, a subsidiary of Thaicom, as the winning bidder for the two remaining satellite orbit packages. This decision follows an extensive review by the bid selection committee, which concluded that TC Space Connect was the sole contender for the licences. NBTC’s timeline was slated yesterday, October 16, for finalising…
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Thailand’s stock market sees a ‘baht’ of foreign interest
Foreign investors have increased their holdings of Thai shares by 1.37% in the first eight months of 2024, reaching a total of 5.18 trillion baht, based on data from the Stock Exchange of Thailand (SET). This rise highlights the growing interest in the technology, financial, and services sectors. By August 2024, foreign investors held over 5.18 trillion baht (US$155 billion)…
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Thailand’s SMEs to receive 1.9 billion baht support fund
Industry Minister Akanat Promphan is advancing initiatives to assist small and medium-sized enterprises (SMEs) in mitigating financial pressures and enhancing their technological capabilities to remain competitive. The Industry Ministry’s broader objective is to reform Thailand’s manufacturing sector, according to Akanat. To this end, the ministry plans to provide financial aid through its SME development fund, aiming to alleviate the financial…
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Tax exemption for corporate insurance payouts amid flood recovery
The Cabinet has sanctioned a tax exemption for corporate income derived from insurance payouts for policyholders impacted by this year’s floods. Government spokesman Jirayu Houngsub announced after the Cabinet meeting that companies in flood-affected areas with insurance coverage against floods will have their insurance payouts exempted from income tax, as per the Finance Ministry’s directive. For business operators needing loans…
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Commerce Ministry launches economic recovery plan to aid SMEs
The Commerce Ministry is collaborating with government agencies in Thailand to roll out a nationwide economic recovery initiative over five months, aimed at assisting small businesses, easing expenses, and reducing the cost of living. Commerce Minister Pichai Naripthaphan convened with over 150 representatives from private sector organisations to jointly launch the project. The discussions incorporated cooperation from both public and…
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KBank ‘assets’ itself with new ventures amid rising NPLs
Kasikornbank (KBank) is shaking things up and eyeing new profits by tackling its bad assets head-on via joint venture asset management companies (JV-AMCs), as non-performing loans (NPLs) climb higher across the banking scene. Rungruang Sukkirdkijpiboon, KBank’s co-President, spilt the beans that the bank is launching a fresh JV-AMC in partnership with Bangkok Commercial Asset Management (BAM), adding to its current…
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Kao Thailand celebrates 60 years of clean streaks, happy households
Kao Industrial (Thailand) Co., Ltd., is rolling out the red carpet for its 60th anniversary, celebrating six decades of serving Thai households with beloved brands like Attack, Magiclean, Haiter, Curel, and Laurier. As the first overseas arm of Japan’s iconic Kao Corporation, established in 1964, Kao Thailand has been banging the drum for hygiene & protection while upping the ante…
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Fuel’s gold: Bangchak to fry high with sustainable jet fuel from cooking oil
Bangchak Corporation, one of the big dogs on the Stock Exchange of Thailand (SET), is turbocharging its efforts to collect used cooking oil, aiming to transform it into sustainable jet fuel (SAF) by next year—a first-class upgrade for greener skies. BSGF, Bangchak’s SAF-producing brainchild, has penned a memorandum of understanding (MoU) with New Biodiesel to scoop up used cooking oil…
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Thai execs ‘gen’-erate buzz, placing big bets on AI for success
In a bold business move, executives in Thailand are betting big on generative artificial intelligence (GenAI), catapulting it to the top of their corporate agendas, reveals a sizzling study by global CRM giant Salesforce. Amidst economic turbulence, Siddharth Rastogi, Salesforce’s vice-president for the ASEAN, insists it will work. “We’ve got the magic mix for AI adoption, thanks to the nation’s…
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Thailand to explore new tax system for ageing population
Thailand must urgently adjust its tax structure and increase tax participation to address future expenses related to its ageing population, according to Deputy Finance Minister Julapun Amornvivat. The Finance Ministry is exploring a negative income tax (NIT) system to assist individuals with incomes below a government-set threshold. Julapun clarified that the goal is to ensure residents can sustain their livelihoods,…
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Middle East tensions threaten Thai economy with rising oil prices
Geopolitical tensions in the Middle East are having a significant impact on the Thai private sector, as the prolonged conflict between Israel and Hamas extends beyond a year. The ongoing Israeli offensive has led to rising oil prices and shipping blockages, which threaten to affect the Thai economy by increasing inflation and prompting higher interest rates in countries like the…
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Rain check: Hua Hin and Cha-am tourism ready for holiday splash
Heavy rain in Hua Hin and Cha-am are anticipated to impact tourism during the upcoming three-day holiday, potentially worsening domestic sentiment. The Tourism Authority of Thailand (TAT) identified natural disasters as a critical factor to monitor during the high season. Earlier this week, continuous rainfall led to flooding in Cha-am, Hua Hin, and parts of Phetkasem Highway, with water levels…
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Stocking up: Thai market on a roll with Vayupak, ESG fund boost
Thai stocks are poised for continued growth in the fourth quarter, driven by incremental investments in the state-run Vayupak Fund and tax-saving Thai ESG funds, according to the Stock Exchange of Thailand (SET). SET President Asadej Kongsiri revealed that retail investor participation has surged, now accounting for 52% of trades, up from just under 50% in the preceding months. An…
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Don’t ban TEMU: Thai experts call for enhanced trade standards
Thailand should embrace trade opportunities with China rather than follow Indonesia’s lead in banning the Chinese e-commerce platform TEMU, say experts. In light of Indonesia’s recent decision to prohibit the TEMU application, the International Institute for Trade and Development (ITD) voiced its opposition to a similar move by Thailand. Wimol Pankong, Deputy Director (Academic) of ITD, urged the Thai government…
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Thailand, Cambodia to revive US$300 billion offshore oil field talks
The Pheu Thai-led coalition government is set to revive talks with Cambodia regarding the exploration of a contentious offshore oil and gas field, estimated to hold at least US$300 billion in reserves. This field has been a point of contention between the two nations since the 1970s. Prime Minister Paetongtarn Shinawatra, who assumed office in September following the Constitutional Court’s…
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Thailand’s tourism confidence index drops amid floods, economy
Thailand’s tourism confidence index for the third quarter saw a significant drop year-on-year, remaining below the benchmark due to challenges such as factory closures, rising unemployment, increasing non-performing loans, and severe flooding both domestically and internationally, according to the Tourism Council of Thailand (TCT). The TCT has scheduled a meeting with the Tourism Authority of Thailand‘s board chairman tomorrow to…
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5 tips for a professional headshot
A professional headshot is more than just a photo – it’s an important tool for making a strong impression in the digital world. But if you’ve never had a professional headshot taken, the thought of getting one might intimidate you a little bit. Here are five tips to help you capture a headshot that shows you in your best light…
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Thai Vietjet’s foreign pilot plan under scrutiny by AirAsia executive
The Airlines Association of Thailand (AAT) deemed Thai Vietjet’s request to allow foreign pilots to fly domestic routes via a wet lease arrangement as acceptable, citing its temporary nature. However, an AirAsia executive has expressed strong opposition to this proposal. AAT President Puttipong Prasarttong-Osoth says he sees the wet lease arrangements as a win-win situation, as airlines can temporarily increase…
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Thai corporate bond issuance falls 14% amid market challenges
The issuance of new corporate bonds in Thailand dropped 14% to 704 billion baht (US$21 billion) in the first nine months of this year, as the market faced challenging conditions for fundraising. Bond issuers are waiting for interest rates to decline, according to the Thai Bond Market Association (ThaiBMA). Somjin Sornpaisarn, President of ThaiBMA, reported that the bond market’s total…
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Thailand eyes higher inflation target to push for rate cut
Sources familiar with the discussions have revealed that Thailand’s Finance Ministry plans to propose an increased inflation target of 1.5% to 3.5% for the coming year. This move is likely to exert additional pressure on the central bank to lower its key interest rate. Talks between the Finance Ministry and the Bank of Thailand (BoT) to finalise this new price…
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Green dreams: EU-ASEAN leaders forge path to eco-future
Top EU-ASEAN business leaders and cooperation agencies came together for a high-powered Partners’ Dialogue forum to tackle the opportunities and challenges of ASEAN’s green transition. The event was hosted by none other than the European Union’s Ambassador, H.E. Sujiro Seam. Representatives from EU-ASEAN institutions, member states, businesses, and cooperation agencies gathered to share insights and experiences on ASEAN’s journey towards…
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Middle East tensions may impact OFFO’s debt repayment strategy
Rising tensions in the Middle East, particularly between Israel and Iran are anticipated to push global crude oil prices higher, potentially impacting the Oil Fuel Fund Office’s (OFFO) debt repayment strategy, according to a spokesperson from the Energy Ministry. Uncertainty surrounds whether the United States will back potential Israeli strikes on Iran’s oil infrastructure, raising concerns about oil price volatility,…
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Paw-some event: Bangkok set to unleash Pet Fair South East Asia
Hold onto your leashes! Pet Fair South East Asia is set to fetch a new standard in the pet industry, poised to become the tail-wagging talk of the town from October 30 to November 1, in bustling Bangkok. This year’s extravaganza promises to be the ultimate gathering for industry bigwigs and moggies from Asia, Europe, the US, and the Middle…
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Vietnam records highest GDP growth in two years despite typhoon
Vietnam achieved its highest economic growth in two years during the quarter ending in September, driven by robust exports, industrial production, and an increase in foreign investment. This positive development comes despite the devastating impact of Typhoon Yagi, Asia’s strongest typhoon this year. The General Statistics Office reported a 7.4% year-on-year growth in gross domestic product (GDP) for the third…
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Thailand cash handout to boost Q4 GDP growth despite challenges
The Thai government’s initial cash handout is anticipated to boost the national economy in the upcoming months, according to industrial leaders and brokerages. They recommend that the second phase of the handout target individuals with higher purchasing power to prolong economic stimulation. In the first phase, the government distributed 10,000 baht in cash to each of the 14.5 million welfare…
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Rice to the occasion: Thai prices drop as India returns to the market
Thai white rice prices have started to fall after India decided to resume non-basmati white rice exports. Despite this development, this year’s rice export volume remains unaffected, according to Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association. Chookiat stated that on September 28, the Indian government lifted a ban on non-basmati white rice exports that had been in…
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Banking on transparency: Thailand opens data doors for financial access
The Bank of Thailand unveiled an open data initiative aimed at enhancing access to financial services for Thai citizens and businesses. The Your Data initiative allows individuals and small and medium-sized enterprises (SMEs) to share their data with financial institutions, facilitating improved access to a range of financial services. The central bank’s project, in collaboration with regulatory agencies and financial…
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