Business News
Stay abreast of the ever-changing Business News in Thailand through our comprehensive coverage of local and international business events, market trends, and economic updates. We provide reliable analysis, in-depth features, and expert insights on the most relevant business stories, including issues affecting Thailand’s stock market, foreign investment, and entrepreneurship. Track the business world’s pulse as we inform you of crucial developments shaping Thailand’s economic landscape.
To keep up with the most recent business news in Thailand, subscribe to our newsletter and follow us on social media.
-
Sponsored
Top 5 social media marketing companies in Thailand
As a business owner, you probably already know that social media has become an essential tool to reach new customers. According to the 2023 Social Media Marketing Industry Report, the majority of marketers reported positive outcomes from their social media...
-
Cathay Pacific delays new routes for full capacity takeoff
Cathay Pacific Airways, Hong Kong’s flag carrier, will refrain from expanding into new routes until it achieves full capacity by early next year. Despite reaching 80% of its pre-pandemic capacity, Chairman Patrick Healy stated that speeding up the timeline “is not the right thing to do.” Healy revealed to the South China Morning Post that the airline has no immediate…
-
Brewing success: Thai coffee market percolates with growth
The Thai coffee market is experiencing significant growth, driven by evolving consumer lifestyles and increased demand for both domestic consumption and export processing. The Director-General of the Trade Policy and Strategy Office, Poonpong Naiyanapakorn underlined Thailand’s potential to process raw coffee into finished coffee products for export, a key value-adding practice. From 2021 to 2023, the Thai coffee market expanded…
-
La Niña weather phenomenon likely to further fuel food inflation
The Commerce Ministry is closely observing the transition from the El Niño to La Niña weather phenomenon, which could impact Thailand’s inflation, especially concerning food items like fresh vegetables and fruit due to their water sensitivity. Director-General of the Trade Policy and Strategy Office (TPSO), Poonpong Naiyanapakorn stated that data from the Thai Meteorological Department (TMD) shows that El Niño…
-
Thailand’s tech exports face threats as Vietnam takes lead
Thailand’s export sector, which contributed 54.5% of GDP last year excluding services, faces potential disruption due to rapid technological advancements. Vietnam has surpassed Thailand in exporting high-tech products, emerging as a key production base for the downstream electronics industry. The global market’s recovery, particularly in computers, semiconductors, and smartphones, has driven this demand. Thailand mainly exports intermediate electronics products like…
-
HR leaders urged to align vision for strategy success
Aligning every member of an organisation with a unified vision has become essential in today’s fast-changing business environment. The recent HR Talk, titled E=AMC: Unlocking the Code — How HR Can Turn Strategy into Action, delved into this theme, offering significant insights into how Human Resources teams and leaders can transform strategic visions into concrete results. Distinguished speakers at the…
-
Government to advance 47 billion baht in PPP projects this year
Government investment projects under public-private partnerships (PPP) are set to advance this year, nearing the target of 47 billion baht, as projected by the State Enterprise Policy Office (Sepo). Sepo’s director-general, Tibordee Wattanakul, mentioned that the PPP investments are expected to alleviate the government’s fiscal responsibilities. By February, the PPP Committee had sanctioned 18 billion baht for fiscal 2024, focusing…
-
Ethereum ETFs approved, crypto prices to surge this year
Cryptocurrencies are having a golden year, with the US Securities and Exchange Commission (SEC) recently approving eight funds set to launch spot Ethereum exchange-traded funds (ETFs). Analysts predict the bull run will persist into the second half of the year, driven by strong interest from institutional investors. The SEC’s approval on May 23 for rule changes allowing ETFs to buy…
-
Thai film industry to exceed 3.8 billion baht at Cannes festival
The 77th Cannes Film Festival has presented significant opportunities for the Thai government, local filmmakers, and production companies to secure lucrative business deals. The festival, which ran from May 14 to 25, is expected to generate more than the 3.8 billion baht grossed from last year’s event. Companies participating in the Thai booth, which showcased local films and promoted tourism,…
-
Thailand urged to support major theme parks
Thailand should offer robust support, including investment incentives and infrastructure development, to attract major theme park brands like Disney, according to the International Association of Amusement Parks and Attractions (IAAPA). IAAPA Board Chairman Wuthichai Luangamornlert emphasised that investors are inclined to develop attractions in destinations providing substantial support. China’s rail transport system was completed a year before the opening of…
-
Thailand leads in fresh durian exports to China, 121 tonnes by April
Thailand firmly established itself as the top exporter of fresh durians to China, with over 121,398 tonnes shipped in 2024, according to Global Trade Atlas (GTA) data. Additionally, mango exports to South Korea have surged, influenced by favourable trade agreements. Government spokesperson Chai Wacharong announced that Thailand’s Ministry of Commerce revealed new data showing the country exported fresh durians to…
-
Thailand’s smartphone market set to grow 3% to 5% in 2024
Thailand’s smartphone market contracted by 2% in the first quarter due to slow economic recovery, a research paper revealed. However, the government’s digital wallet scheme is projected to stimulate industry growth by 3% to 5% in 2024, according to Counterpoint Technology Market Research’s Thailand Smartphone Tracker report. 5G smartphone shipments accounted for 52% of total smartphone sales in the first…
-
Minister proposes shorter blacklist period for bad debtors
Finance Minister Pichai Chunhavajira proposed reducing the time period for which bad debtors remain on the National Credit Bureau’s blacklist, aiming to facilitate quicker access to new borrowing opportunities. While speaking at a signing ceremony for the establishment of ARI-AMC, a joint venture between the Government Savings Bank (GSB) and Bangkok Commercial Asset Management Plc (BAM), Pichai noted that the…
-
Thailand tourism thrives despite slow GDP growth
Thailand’s tourism sector demonstrates resilience, maintaining momentum despite a GDP growth of only 1.5% in the first quarter, which trails behind its regional counterparts. The Tourism Authority of Thailand (TAT) attributes this robustness to a quicker rebound in tourism compared to other industries and is planning to sustain this through the ongoing promotion of festivals. Reports have shown that large…
-
Thai banks urged to ‘transact green’ by BoT to aid local businesses
The Bank of Thailand (BoT) urges large commercial banks in Thailand to provide transition finance to aid local businesses in shifting from carbon-intensive operations to more sustainable practices. During the seminar EARTH JUMP 2024: The Edge of Action organised by Kasikornbank, Ronadol Numnonda, deputy governor of the central bank, revealed that last year, large local banks reported a total of…
-
Thailand tackles fraud with mobile bank account name verification
Mobile bank account holders can continue using their services uninterrupted as authorities work to ensure the names of account holders match those of phone subscribers, according to the Ministry of Digital Economy and Society (DES). This initiative aims to tackle the misuse of bank accounts by fraudsters. The crackdown, launched at the beginning of the week, has caused some concern…
-
Thai Consulate Savannakhet: No more walk-in services
THAI CONSULATE SAVANNAKHET POLICY CHANGE The Royal Thai Consulate in Savannakhet, Laos, will go to online appointment booking only effective June 1st (actually on Tuesday June 4th which is the first day they’re open after the holiday). The consulate will no longer allow walk up service, you have to book an appointment to get in the gate. At this time the…
-
Chinese investors show strong interest in Thailand at RCEP-tion
Chinese investors eagerly engaged with Thailand’s business landscape at a recent matchmaking event held under the Regional Comprehensive Economic Partnership (RCEP) agreement. Marking its debut in Thailand, the event seeks to draw interest towards emerging S-curve industries and facilitate the transfer of technology from China. At the helm of the 1st RCEP Business Opportunities Matchmaking Conference (China-Thailand) was Commerce Minister…
-
Thailand Cabinet boosts 2024 fiscal budget by 122 billion baht
The Thai Cabinet approved a plan to increase the 2024 fiscal budget by 122 billion baht to support its delayed household stimulus scheme, Deputy Finance Minister Paopoom Rojanasakul today announced. This adjustment will raise the new budget to 3.6 trillion baht, representing a 13% increase from the previous year, with the deficit swelling to 805 billion baht. The government’s decision…
-
Ezy Airlines ready for Hat Yai-Betong takeoff, expect turbulence
Ezy Airlines announced plans to take flight on the currently unserviced Hat Yai-Betong route by late next year, experiencing a slight delay from its original schedule. Chatchavee Sakornvisai, senior director of business development and international liaison, confirmed Ezy Airlines’ intention to establish Hat Yai Airport as its operational hub, with aspirations to start flights to Betong by the third quarter…
-
Thai-made armoured vehicles and pistols delivered to Bhutan
In a momentous event overseen by Defence Minister Sutin Klungsang, a ceremony unfolded today to transfer a cache of arms to Bhutan’s police force. The consignment included 10 armoured vehicles and 230 pistols, all manufactured by two Thai companies. Set against the backdrop of the Defence Ministry‘s permanent secretary office building, the ceremony symbolised the strong defence cooperation between Thailand and…
-
Finance Ministry to reassess stock holdings worth 1.19 trillion baht
The Finance Ministry plans to reassess its shareholdings in various stocks to optimise its asset portfolio and generate additional revenue for the state. Deputy Finance Minister Paopoom Rojanasakul instructed the State Enterprise Policy Office to evaluate the ministry’s stock holdings. According to sources, this review aims to identify which assets the government should retain and which could be sold. A…
-
Finance minister orchestrates with BoT for fiscal symphony
Finance Minister Pichai Chunhavajira is adopting a more cooperative stance towards the Bank of Thailand (BoT)Â compared to the Thai prime minister, aiming to align fiscal and monetary policies more effectively. Prime Minister Srettha Thavisin has been advocating for interest rate cuts to stimulate the economy. Pichai, however, has shifted the focus towards enhancing public access to finance, expressing his concerns…
-
Thai employment dips: Farm job cuts sow 0.1% decline in Q1 stats
Thailand today experienced a 0.1% decline in employment during the first quarter compared to the same period last year, primarily due to reductions in agricultural jobs, according to the National Economic and Social Development Council (NESDC). This follows a 1.7% year-on-year increase in employment in the previous quarter. The drop in agricultural employment was significant, with a more than 5.7%…
-
Brands accused of rainbow washing during Pride Month
Throughout June, rainbow flags adorn many city streets globally in celebration of Pride Month, symbolising the ongoing struggle for civil rights and the pursuit of equality for LGBTQIA+ individuals. Brands and companies often show their support by incorporating rainbows into their logos or changing their profile pictures to feature rainbow graphics during this time. However, when June ends, these displays…
-
Thailand PM calls urgent meeting with economy ministers
Thailand Prime Minister Srettha Thavisin called for an urgent meeting with economy ministers to discuss short-term economic stimulus measures to address Thailand’s sluggish economic performance in the first quarter of 2024. The National Economic and Social Development Council (NESDC) reported that Thailand’s economy grew by only 1.5% year-on-year for the first three months of 2024. This lacklustre growth has prompted…
-
Tax refund delays: Stricter checks put paperwork in slow lane
Stricter document verification has led to delays in personal income tax refunds this year, the Revenue Department reported. An increase in the submission of fraudulent documents, particularly fake income certificates (50 Tawi), prompted the department to scrutinise tax refund documents more meticulously. Vinit Visessuvanapoom, Deputy Director-General and principal advisor on tax base management stated that the department’s heightened caution stems from…
-
Commerce Ministry investigates oil palm price drop
The Commerce Ministry directed the Internal Trade Department to investigate the recent drop in oil palm prices by visiting provinces known for palm plantations. This initiative follows complaints from growers about reduced purchase prices. Commerce Minister Phumtham Wechayachai instructed Wattanasak Sur-iam, director-general of the Internal Trade Department, to assess the situation in Phang-Nga, Krabi, and Surat Thani provinces. The goal…
-
Gold trading in the era of financial regulatory changes
The gold market has undergone significant changes in recent years due to evolving financial regulations across the globe. With increased oversight and restrictions, gold traders have had to adapt to this new environment. This article explores how gold trading has been impacted by financial regulatory changes and what traders need to know going forward. Increased Capital Requirements One of the…
-
Thai car production drops 11.02% in April amid long holidays
Car production in Thailand experienced a significant decline of 11.02% in April from the previous year, with total units produced amounting to 104,667, according to the Federation of Thai Industries (FTI). This decrease follows a more substantial drop of 23.08% year-on-year in March. The FTI attributed April’s reduced production figures to long holidays during the month. For the January to…
-
US imposes major tariffs on Chinese EVs and semiconductors
The United States recently imposed substantial tariffs on Chinese products, focusing particularly on electric vehicles (EVs) and semiconductors. This move is expected to push China to expand its EV manufacturing within Asia, with Thailand emerging as a significant export hub, according to the Federation of Thai Industries (FTI). President Joe Biden’s administration cited Beijing’s unfair trade practices as the reason for…
Don't forget to check out some other things to do in Thailand - get help starting a business or finding a job in Thailand, buy Thailand property, rent a yacht or book a medical procedure worldwide.