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 How one hospital visit in Thailand could cost more than your whole trip
Thailand is a favourite spot for travellers who want to enjoy more while spending less. From cheap street food to low-cost hotels and fun attractions, it’s easy to stretch your budget here. But there’s one thing many people don’t think...
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Throttle trouble: Thai motorists hit the brakes on new car buys
Thai motorists are hitting the brakes on new car purchases due to economic jitters, revealed in a new report by Differential (Thailand) Co Ltd, a data analytics, technology, and research firm. The 2024 Customer Experience Report, which polled over 2,500 Thai car buyers from November 2020 to December 2022, found that a whopping 70% of respondents intend to buy a…
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Mama noodles maker supports 400 baht minimum wage hike
Thai President Foods PLC, the producer of Mama instant noodles, expressed no opposition to the proposed minimum wage increase to 400 baht, according to Managing Director Phan Phaniangwet. He urged the Thai government to finalise the decision promptly, citing the recent volatility of the Thai baht. The baht’s rapid appreciation in recent weeks has had mixed effects on the company.…
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DES Ministry to hold banks, telecoms accountable for online scams
The Digital Economy and Society Ministry (DES) is set to amend regulations to hold banks and telecom operators accountable if they are found negligent in addressing online scams, according to DES permanent secretary Wisit Wisitsora-At. Wisit made the new regulation announcement, yesterday, September 19, during the 60 Years of Excellence: Creating Great Leaders, Designing the Future seminar hosted by the…
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Thailand jumps to 7th in global cybersecurity index
Thailand has leapt to seventh position in the Global Cybersecurity Index (GCI) this year, a significant rise from 44th place in 2020, as reported by the National Cyber Security Agency (NCSA). The index, which evaluates 194 countries, is administered by the International Telecommunication Union (ITU). The GCI, with 46 countries, including Thailand, classified as tier 1, measures cybersecurity commitment across…
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Malaysia and Cambodia launch cross-border QR payment system
Malaysia and Cambodia have collaboratively launched a cross-border quick response (QR) payment linkage, enabling consumers and merchants to conduct instant retail payments via mobile applications. This initiative, announced by Bank Negara Malaysia and the National Bank of Cambodia (NBC), aims to enhance the payment experience and expand market reach for over 5 million merchants in both countries, primarily small businesses.…
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Virtual bank brawl: Thailand’s money movers make their pitch
Competition for virtual bank licences in Thailand is reaching fever pitch, with five heavyweight business groups stepping forward just before the application deadline. The Bank of Thailand and the Ministry of Finance are set to issue an undisclosed number of licences, with the winners announced in the first half of next year. Successful applicants will have a year to kick-start…
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UK signs pivotal trade and investment deal with Thailand
The United Kingdom government has finalised a significant trade and investment agreement with Thailand, marking the first such deal since the Labour government assumed office in July. Commerce Minister Pichai Naripthaphan and UK Trade Minister Douglas Alexander signed the enhanced trade partnership agreement in Bangkok yesterday, September 18. The deal seeks to eliminate specific trade barriers, focusing on sectors such as…
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Thailand’s consumer cashflow set to rise above 2019 levels
Thailand’s consumer spending is set to smash past 2019 levels for the first time, fuelled by expected interest rate cuts from the Bank of Thailand and a booming tourism sector, leading analysts reveal. In spite of sky-high household debt, consumer confidence is riding high thanks to a surge in foreign tourist arrivals—a key lifeline for Thailand’s economy, according to BMI,…
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Bangkok Bank gives a healthy boost to Siriraj with 70 million baht
Bangkok Bank Public Company Limited (PCL) made a healthy contribution of more than 70 million baht to Siriraj Hospital through its Bangkok Bank-Siriraj Card Project, reinforcing the bank’s dedication to social responsibility and community support. On Mahidol Day, Pochanee Kongkalai, Executive Vice President and Assistant VP of Customer Banking, proudly presented the cheque for 70,315,053.39 baht to Professor Dr Apichat Asavamongkolkul,…
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Thailand to borrow 2.59 trillion baht for 2025 budget
The Government of Thailand announced a borrowing plan of 2.59 trillion baht for the 2025 fiscal year, assuring that this will not hinder the private sector’s fundraising efforts, a Ministry of Finance official stated yesterday. Jindarat Viriyataveekul, public debt adviser at the ministry, said the debt plan, which begins on October 1, should not cause concern in the markets. She…
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MP urges central bank governor to resign over call centre scams
People’s Party list MP Wiroj Lakkhanaadisorn launched a blistering attack on the governor of the Bank of Thailand, urging him to resign if he can’t protect the public from the alarming rise in call centre scams. He slammed the central bank for reaching a “lowest point,” with scammers boldly impersonating officials to trick unsuspecting Thais into transferring their cash. Wiroj…
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Entry Thailand: The portal to paradise
The Tourism and Sports Ministry has rolled out a brand new web portal designed to revolutionise the way foreign tourists access essential services in Thailand. Dubbed “Entry Thailand,” this innovative platform not only features an electronic travel authorisation (ETA) system but also prepares for a future 300-baht fee for incoming visitors. Mongkon Wimonrat, the Tourism and Sports Ministry Deputy Permanent Secretary,…
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Finance Ministry set to cash in: £400bn portfolio gets a stock-over
In a bold new move, the Finance Ministry is gearing up to overhaul its colossal 400 billion baht stock portfolio, hinting at potential sell-offs. This announcement comes straight from Finance Permanent Secretary Lavaron Sangsnit, who let the cat out of the bag. Lavaron, a key player in the State Securities Management and Development Committee within the State Enterprise Policy Office…
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Virtual bank race: Five giants vie for digi-crown in Thailand
The race is heating up for the new virtual bank licences, with five heavyweight business groups ready to battle it out. Gulf consortium has already thrown its hat into the ring, according to Krungthai Bank (KTB) president Payong Srivanich. This power team includes Gulf Energy Development and PTT Group. Armed with a solid business plan and robust ecosystem that meets…
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Thailand banks could be forced to share hacking costs
Thailand’s Digital Economy and Society (DES) Minister Prasert Chantararuangthong has thrown his weight behind a groundbreaking proposal that could see commercial banks sharing the financial burden when their customers’ accounts are hacked. Prasert, who also serves as Deputy Prime Minister, publicly backed opposition MP Wiroj Lakkhanaadisorn’s suggestion during a heated House debate. Wiroj, from the People’s Party, argued that banks…
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Whoscares? Scam alert app is here to call out the cons in Thailand
Gogolook, the brains behind the wildly popular Whoscall app, have unleashed a game-changer: Scam Alert, and it’s rocking the scene thanks to a team-up with the National Broadcasting and Telecommunications Commission (NBTC). A whopping 11 heavy-hitter organisations are on board this powerhouse initiative, including telecom giants, police forces, top banks, the National Cyber Security Agency, the Central Investigation Bureau, and…
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Gold rush: Fed’s policy shift sparks record-breaking prices
Gold prices soared to an all-time high today as traders anticipate the Federal Reserve’s first shift towards easing monetary policy in over four years. The price of bullion jumped by up to 0.4%, hitting a peak of US$2,589.03 per ounce during Asian trading hours, today, September 17. This comes after a 3.2% increase last week, with eyes now on the…
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Digital wallet scheme falls short of 45 million target, saves 100 billion baht
Online registrations for the government’s digital wallet handout scheme have recently closed, with only 36 million people signing up, falling short of the 45 million target. The Finance Ministry reported that this shortfall has resulted in a saving of 100 billion baht (US$3 billion) from the project’s budget. When asked whether the lower registration numbers indicated a lack of public…
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Commerce minister plea: Time to cut the baht and boost the rates
Commerce Minister Pichai Naripthaphan called on the Bank of Thailand (BoT) to slash interest rates and stabilise the baht in a bid to boost exports and prop up GDP. In a policy statement issued today, Pichai slammed the current strength of the baht, which he claims is hitting exports hard. With export growth expected to be sluggish this year, he’s…
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Thailand to revive 300-baht tourism tax to boost revenue
Tourism Minister Sorawong Thienthong reignited plans for a 300-baht tourism tax, which was put on ice by former Prime Minister Srettha Thavisin. The move is set to help rake in a whopping 3 trillion baht in tourism revenue this year. Sorawong, who stepped into his role yesterday, September 16, believes the tax will be a game-changer for the industry. “This…
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WHAUP to invest 2.3bn baht in renewable energy projects
WHA Utilities and Power (WHAUP), a subsidiary of Thailand’s largest industrial land developer WHA Corp, is set to invest 2.3 billion baht to bolster its operations and meet the rising demand for water and renewable energy in Thailand and Vietnam. A significant portion of this budget will be directed towards expanding renewable energy, aiming to achieve an electricity generation capacity…
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Political payout: Listed companies to rake in the baht
Listed companies across a swath of sectors are set to cash in big, thanks to the Pheu Thai-led administration’s progressive new policies, Bualuang Securities (BLS) revealed. The brokerage is urging investors to zoom in on mid-cap stocks, particularly in retail, consumer goods, food, finance, construction, transport, tourism, and healthcare. The launch of Vayupak Fund units has already sent the Stock…
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Accor flies high: Premium brand expansion takes off in Thailand
Global hospitality titan Accor is firing on all cylinders as it accelerates the rollout of its premium brands in Thailand and across the globe. The move is fuelled by bullish forecasts for booming travel over the next decade, with the company setting its sights on high-potential markets such as India’s growing middle class and China’s robust outbound travel scene. Karelle…
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Cluck’s up: Texas Chicken to fly the coop in Thailand after 9 years
In a shock announcement, Texas Chicken has revealed that it will be shuttering all its outlets in Thailand by the end of this month, ending a nine-year run that has left fans of the crispy treat crestfallen. The bombshell was dropped on their official Facebook page, and there was no explanation for the abrupt exit. “It’s time to say goodbye…
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Thai-riffic tech boom: Chinese software firms set sights on Thailand
Chinese software companies are increasingly setting their sights on Thailand, recognising it as a key market for digital growth. Many of these firms, mostly small and medium-sized enterprises (SMEs), started by providing cloud-based solutions to Chinese online merchants in Thailand. Their offerings include sales order management, inventory control, and accounting software. In a sign of the times, Chinese food delivery…
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Thailand’s tourism shake-up: Private sector dives into man-made marvels
Thailand is gearing up to revamp its tourism scene with a fresh array of man-made attractions, and the private sector is already jumping on board. The government is drawing up plans for entertainment complexes that will include legal casinos, marking a bold new direction for the country’s tourism strategy. Private firms are keen to get in on the action. Asset…
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Understanding the costs of renting in Dubai: A guide for Thai expats
Particularly for Thai expats who might not be familiar with the local rental market, renting a property in Dubai can provide both an exciting prospect and a challenging process. Dubai presents a wide spectrum of properties, from opulent villas to trendy apartments, but it’s important to grasp the whole range of expenses required outside just the monthly rent. The article…
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Emirates takes luxury to new heights with fragrance collaboration
Emirates is soaring to new heights, unveiling its latest luxury enhancement—a first-of-its-kind partnership with Irish organic beauty brand VOYA. Launching aboard First and Business Class, Emirates teamed up with VOYA to create bespoke Eau de Toilette fragrances, marking a new chapter in its premium travel experience. With sophistication and understated luxury at its core, this exclusive range is VOYA’s first-ever…
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Thai Finance Ministry enhances data use for economic growth
The Ministry of Finance is advancing its data utilisation efforts to develop comprehensive profiles of Thai citizens’ liabilities and assets, aiming to bolster economic development. Permanent Secretary Lavaron Sangsnit revealed that creating a data lake will enable the government to craft improved national development policies and identify regional strengths and weaknesses. This system will consolidate diverse information about citizens, including…
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Grab Thailand launches new cash loans for partner merchants
Grab Thailand announced a revamped portfolio of cash loans aimed at its partner merchants, offering three distinct loan products to cater to businesses of all sizes. The new offerings include loan amounts up to 10 million baht with interest rates capped at 1% per month for larger businesses. The initiative aims to boost working capital, enhance liquidity, and support entrepreneurs…
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