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.
-
Sponsored
9 most common health issues covered by insurance for expats in Thailand
Thailand is a popular destination for expats due to its affordable lifestyle and excellent healthcare system. However, settling in a new country often brings health concerns. To ensure you’re covered for the most common medical needs, understanding what expat health...
-
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…
-
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…
-
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…
-
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…
-
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…
-
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…
-
Thailand cuts interest rate to boost economic recovery
Thailand’s central bank has strategically positioned its policy interest rate to counter economic challenges as financial conditions tighten and recovery remains uneven. Minutes from the October 16 meeting of the Bank of Thailand (BoT) revealed that the Monetary Policy Committee (MPC) made an unexpected decision to lower the one-day repurchase rate by 25 basis points to 2.25%, marking the first…
-
Starbucks stirs up Thai market with a ‘latte’ new stores brewing
Hold onto your coffee cups, folks! Starbucks Thailand is brewing up a storm with plans to roll out 30 new stores annually, even as the country’s coffee market bubbles with fierce competition. This caffeine-fuelled expansion underscores the coffee giant’s faith in Thailand’s untapped potential in Southeast Asia. Spearheading this bold venture is Starbucks Thailand’s Managing Director, Nednapa Srisamai, who’s unfazed…
-
Thai export extravaganza: Gold rush as figures set at US$290bn
In a dazzling economic twist, Thai exports are on track to shatter the 2% growth target, soaring to an unprecedented US$290 billion this year. Poonpong Naiyanapakorn, the Trade Policy and Strategy Office (TPSO) chief, credits the surge to booming demand for all things agricultural, food-related, and electronic, thanks to the economic bounce-back in powerhouses like the United States and European…
-
Golden opportunity: Prices to sparkle amid global turmoil, US policy
Gold prices are primed for a glittering rise this week, says the Gold Research Centre (GRC). Driven by a trio of global factors, the Middle East turmoil, cues from the Bank of Japan’s (BoJ) policy moves, and faltering US economic signals—this precious metal is sparking keen market interest. While most experts brace for stable or dipping gold rates, the GRC…
-
Thailand to raise inflation target range for 2025 by 0.5%
The Finance Ministry and the Bank of Thailand are preparing to set the inflation target range for 2025, with the ministry proposing a 0.5% increase over the current range. A source from the Finance Ministry, who wished to remain anonymous, revealed that Deputy Prime Minister and Finance Minister Pichai Chunhavajira met with central bank chief Sethaput Suthiwartnarueput yesterday, October 28.…
-
Bitcoin breaks the bank: Crypto leap sends shockwaves through markets
In a dazzling leap forward, Bitcoin smashed through the US$71,000 barrier, sending shockwaves through the financial world. This crypto milestone, unmatched since June, comes on the heels of hefty inflows into exchange-traded funds and rampant election speculation. As the clock ticked past 10.45am in Singapore, the digital asset darling rocketed over 2%, peaking at an impressive US$71,310. Not to be…
-
Golden opportunity: Thai investors ‘mint’ to act as prices hold steady
In an unexpected twist for the Thai economy, the Gold Traders Association (GTA) announced a welcome bout of stability in today’s gold prices, prompting savvy investors to make their move. As of today, October 28, the glint of gold remains constant—keeping the market at a tantalising standstill. The GTA’s latest update, released at 9am, confirmed the price for gold ornaments…
-
Thailand leads Southeast Asia in agricultural exports, 8th globally
Thailand emerged as the largest exporter of agricultural products in Southeast Asia and the eighth-largest globally, thanks to its free trade agreements (FTAs). The Trade Negotiations Department highlighted this achievement, with the Director-General, Chotima Iemsawasdikul, attributing the success to these agreements despite growing foreign competition and global economic uncertainties. Thailand’s agricultural export value reached US$19.8 billion (638 billion baht) in…
-
EGAT to add 110 EV charging outlets in Thailand this year
The Electricity Generating Authority of Thailand (EGAT) is intensifying its electric vehicle (EV) solution services, notably by expanding charging outlets, to capitalise on the burgeoning EV market and support Thailand’s carbon reduction goals. EGAT’s expansion follows its pilot-scale operations in collaboration with state agencies and building owners. With 50 years of expertise in electricity supply and transmission system development, EGAT…
-
AI storm: Brands brew up digital ‘spell-utions’ for savvy shoppers
In the world of marketing, there’s a storm brewing with artificial intelligence (AI) at its eye. Brands are diving into digital wizardry to craft campaigns that click with today’s choosy consumers, according to digital agencies and tech analysts. The challenge? Reaching and resonating with audiences when marketing budgets are tighter than ever amid economic uncertainty. Leading the charge is marketing…
-
Thailand establishes semiconductor board to boost industry
Thailand aims to bolster its standing in the regional semiconductor industry, with significant efforts underway to prepare a skilled workforce for escalating demands. This move is marked by the formation of the National Semiconductor and Advanced Electronics Industry Policy Committee, also known as the National Semiconductor Board, chaired by Prime Minister Paetongtarn Shinawatra. Paetongtarn signed an order to establish the…
-
Thailand’s auto industry brakes as production target stalls
Thailand’s auto industry is stuck in first gear, with car production now expected to fall short of the 1.7 million target for 2024 as sales and exports hit a serious slump. The Federation of Thai Industries (FTI) warns that car manufacturing could face another downgrade this year, with officials predicting a sharp drop from the original target of 1.7 million…
-
Thailand’s card payments to hit 3.3 trillion baht by 2028
Thailand’s card payments market is projected to achieve a compound annual growth rate (CAGR) of 9.2% from 2024 to 2028, reaching 3.3 trillion baht (US$94.5 billion) by 2028. This growth is driven by a consistent consumer shift towards electronic payments, according to data and analytics firm GlobalData. Data from GlobalData’s Payment Cards Analytics indicates that card payment value in Thailand…
-
Thailand’s vehicle production hits the brakes in a sharp downturn
The automotive industry in Thailand has experienced a significant downturn in vehicle production, with September 2024 seeing a total of 122,277 units produced, marking a 25.48% decrease from the same period last year. This decline reflects a 15.78% reduction in vehicles manufactured for export, totalling 87,666 units, and a 42.31% drop in vehicles produced for domestic sales, amounting to 34,611…
-
Bond voyage: Political risks drive foreign exodus from Thai bonds
Increased political risks and the central bank’s reluctance to further cut interest rates are prompting the selling of Thai government bonds. Foreign investors have withdrawn over US$850 million from baht bonds this month, marking the largest monthly outflow since August last year, according to the Thai Bond Market Association. This trend is expected to continue, with investment firm Abrdn plc…
-
Thailand casino draft law ready to hit the jackpot in Cabinet review
The draft law on entertainment complexes and casinos in Thailand is anticipated to reach the Cabinet for consideration later this year, as announced by Deputy Finance Minister Julapun Amornvivat. Upon receiving Cabinet approval, the administration plans to forward the draft law to Parliament for further deliberation. The House of Representatives is scheduled to reconvene for a regular session from mid-December…
-
Thai deep tech startups generate over 965 million baht
The Higher Education, Science, Research and Innovation Ministry’s Programme Management Unit for Competitiveness (PMUC) has successfully fostered over 90 Thai deep tech startups, generating an economic value exceeding 965 million baht. PMUC Director Thongchai Suwansichon highlighted the unit’s role in leveraging university research to commercialise products that benefit the national economy. “The PMUC sees the potential of research work in…
-
Transport, industrial stocks may gain if Trump wins US election
Transport and industrial estate stocks are poised for gains if Donald Trump secures victory in the US presidential election, according to Asia Plus Securities (ASPS). Conversely, manufacturers of petrochemicals, electrical equipment, steel products, and auto parts may face stiffer competition from Chinese exports. With the US presidential election just weeks away, the race between Democrat Kamala Harris and Republican Trump…
-
Banking on gains: Thai banks ‘interest’ed in profit uptick for 2024
Thai banking sector profits have seen a modest uptick for the first nine months of 2024, buoyed by rising interest and fee incomes. Yet, the backdrop of swirling economic uncertainties has kept banks on their toes, continuing to stash away hefty reserves for potential loan losses. The pack of 10 Stock Exchange of Thailand (SET) listed banks and their subsidiaries…
-
ICONSIAM propels Thailand to the forefront of global destinations
ICONSIAM, the global landmark on the banks of the Chao Phraya River, is employing an Experiential Marketing strategy aimed at creating exceptional experiences and reaffirming its status as a must-visit global destination. In collaboration with partners from all sectors, ICONSIAM is investing up to 300 million baht to launch over 60 marketing campaigns throughout the final quarter of the year, culminating…
-
Political unrest impacts Thailand’s stock market performance
Political turbulence, both on the domestic and international fronts, is tempering the growth prospects of the Stock Exchange of Thailand (SET), despite the Thai index briefly surpassing the 1,500-point mark. Analysts note that the Election Commission’s (EC) recent decision to investigate Thaksin Shinawatra for potentially exerting undue influence over the ruling Pheu Thai Party is a significant factor. The political…
-
FTI calls for fair e-commerce platform playing field
The Federation of Thai Industries (FTI) is urging the government to enforce stricter regulations on foreign e-commerce platforms and control the influx of low-cost products into Thailand. This call to action comes after a recent survey revealed that 35.1% of local entrepreneurs experienced a decline in sales due to inexpensive imports sold online. Vice-Chairman of the FTI, Peekthong Thongyai spoke…
-
Thailand & Hong Kong aims for ASEAN financial hub status
Thailand is exploring a partnership with Hong Kong to establish a financial hub aimed at connecting ASEAN markets. Deputy Finance Minister Paopoom Rojanasakul announced the initiative after a meeting with Hong Kong’s Financial Secretary, Paul Chan, during the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting in Lima, Peru. The meeting highlighted Thailand’s ambition to become a global financial player, as…
-
Thai SMEs boxed in by debt and dwindling demand
Small and medium-sized enterprises (SMEs) in Thailand are on the ropes, grappling with crippling debt and plummeting sales as the country’s economic engine sputters, warns the Federation of Thai Industries (FTI). The financial plight of these crucial businesses is worsening, says the FTI, with government support measures arriving too little, too late. Yet, the federation, the voice of Thailand’s SMEs,…
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.