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.

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  • Sponsored

    Last chance for Thaiger readers: Get 10% off your health insurance—Offer ends in 5 days!

    Did you know that treating a broken leg can cost around 200,000 THB for uninsured patients, and a three-day hospital stay for conditions like dengue fever averages 40,000 to 80,000 THB in Thailand? While healthcare in Thailand is more affordable...

  • Thailand grapples with surge in illegal foreign workers in tourism

    Thailand grapples with surge in illegal foreign workers in tourism

    The Labour Ministry of Thailand has expressed worries over the persistent issue of foreigners being unlawfully employed within the country’s tourism sector. Labour Minister Phiphat Ratchakitprakarn revealed that the ministry has been vigilantly tracking the situation and has reported a steady increase in the number of illegal foreign workers. From October 2023 to February 2024, as many as 13,424 foreigners…

  • Japan experiences surge in qr code transactions amid push for digitalisation

    Japan experiences surge in qr code transactions amid push for digitalisation

    Across Japan, a surge in electronic payment drives has been noted, as municipalities aim to encourage digitalised consumption through QR code transactions. These campaigns, often run in collaboration with local businesses, have seen increasing popularity, despite resistance from certain demographics, particularly the elderly and those less adept with digital devices. The country’s significant elderly population, a group that has been…

  • Chao Phraya Princess enhances cruise services to boost tourism

    Chao Phraya Princess enhances cruise services to boost tourism

    Thailand’s tourism industry is witnessing a revival, with operators enhancing their services to attract the global inflow of tourists. A sought-after experience for many first-time visitors in Bangkok is a scenic cruise along the Chao Phraya River, the country’s main thoroughfare. Chao Phraya Princess, among the largest river cruise operators, has weathered several crises, including the Covid-19 pandemic. To survive…

  • Boosting economic growth: Thailand-Hungary relationship

    Boosting economic growth: Thailand-Hungary relationship

    Hungary seeks to cultivate a stronger bilateral relationship with Thailand as part of the Central European country’s objective to achieve 4% economic growth in the current year, according to Péter Szijjártó, the country’s Minister of Foreign Affairs and Trade. Trade between Thailand and Hungary hit a new high last year, exceeding US$730 million (approximately 26 billion baht). Thailand made significant…

  • Powering down to unplug overhead chaos for underground gain

    Powering down to unplug overhead chaos for underground gain

    Four major organisations, namely the Metropolitan Electricity Authority (MEA), the Provincial Electricity Authority (PEA), the National Broadcasting and Telecommunications Commission (NBTC) and the Bangkok Metropolitan Administration, have joined forces to replace overhead cables with underground ones along 116 routes. This substantial project, spanning across both Bangkok and other provinces, will cover a total distance of 213 kilometres. Originally slated for…

  • MR. D.I.Y. undeterred by Thai wage hike, continues expansion

    MR. D.I.Y. undeterred by Thai wage hike, continues expansion

    MR. D.I.Y., a leading home improvement retailer, persists in its expansion plans in Thailand, unperturbed by the recent escalation in the daily minimum wage. The CEO of MR. D.I.Y. Thailand, Andy Chin, acknowledges that while this wage increase may raise the company’s costs slightly, it will be advantageous for the economy. Chin predicts a positive surge in the retail sector…

  • Deputy foreign minister backs Mekong region trade

    Deputy foreign minister backs Mekong region trade

    To revitalise cross-border commerce, the Thailand deputy foreign minister made a pivotal visit to Chiang Saen Port on Monday, accentuating its pivotal role in the lower Mekong region. With cross-border trade in Chiang Rai soaring to an estimated 100 billion baht last year, according to the Foreign Ministry, the port’s strategic location where the Kok and Mekong Rivers converge offers…

  • Fed’s rate cut sends gold soaring past US,200 per ounce

    Fed’s rate cut sends gold soaring past US$2,200 per ounce

    Gold soared beyond US$2,200 per ounce for the first time, following the Federal Reserve’s decision to maintain its forecast of three rate cuts this year. The Federal Reserve seems undeterred by recent inflation increases. Early trading saw Bullion reach an unprecedented high before retreating slightly. Its meteoric rise since mid-February has been underpinned by enduring support such as escalating geopolitical…

  • Thailand targets diverse travel groups to boost tourism revenue

    Thailand targets diverse travel groups to boost tourism revenue

    Thailand‘s aim of generating 3.5 trillion baht (US$97 billion) in tourism revenue this year requires a broader appeal beyond just leisure travellers to be competitive with other destinations, as per Dusit International. Suphajee Suthumpun, the CEO of Dusit Group, pointed out that while the new visa-free scheme is likely to ease travel, it alone would not suffice to boost revenue.…

  • Northern Thailand braces for severe air pollution crisis

    Northern Thailand braces for severe air pollution crisis

    Northern Thailand, specifically the provinces of Chiang Mai, Chiang Rai, and Mae Hong Son, are bracing for severe PM2.5 air pollution. These areas, surrounded by mountains and hills, have previously been rated as the most polluted globally. The pollution crisis has strained the public healthcare system and forced locals to invest in air purifiers and face masks for protection. While…

  • Q-Con’s land acquisition set to boost southern Thailand’s economy

    Q-Con’s land acquisition set to boost southern Thailand’s economy

    The Industrial Estate Authority of Thailand (IEAT) anticipates its recent land sale to Quality Construction Products Plc (Q-Con), a lightweight brick manufacturer, to bolster the increasing demand for bricks and endorse the government’s economic upliftment plan for the southern region. Situated in the Southern Region Industrial Estate, the 35-rai land was acquired by Q-Con, which had committed to a purchase…

  • Thai govt’s cash splash: 500 billion baht digital wallet green light

    Thai govt’s cash splash: 500 billion baht digital wallet green light

    With a budget proposal of 3.48 trillion baht (US$96.5 billion) for the fiscal year under discussion, the Government of Thailand is determined to proceed with a significant 500-billion-baht (US$13.8 billion) digital wallet handout scheme, according to Deputy Finance Minister, Julapun Amornvivat. During the parliamentary debate, Julapun stated the possible necessity of securing a loan via a bill to finance the…

  • Thai economy falters as high interest rates impact major sectors

    Thai economy falters as high interest rates impact major sectors

    The Thai economy has taken a hit, with government revenue collections falling short of the target. Lavaron Sangsnit, the permanent finance secretary, attributed the shortfall to high interest rates, which have significantly reduced the purchasing power of consumers, impacting major sectors such as automobiles and real estate. Consumers, particularly those interested in purchasing cars or homes, have found their ability…

  • Thailand anticipates American tourism influx due to Songkran

    Thailand anticipates American tourism influx due to Songkran

    The Tourism Authority of Thailand (TAT) is anticipating a robust tourism influx from North and South America this year, with a projection of at least 1.5 million tourists – a figure that mirrors the 2019 statistics. This surge is attributed to the confluence of the Songkran celebrations and the Easter holiday in April. Deputy Governor for Europe, Africa, the Middle…

  • Thailand enforces ban on maize imports from field burning regions

    Thailand enforces ban on maize imports from field burning regions

    The Government of Thailand has given the green light to a ban on maize imports from regions notorious for field burning, a practice contributing to the annual smog crisis. This legislation is slated to come into force within the year. This action is part of a broader strategy to mitigate the recurring smog issue, which the government primarily attributes to…

  • Gold prices in Thailand surge with ornaments at 37,350 baht

    Gold prices in Thailand surge with ornaments at 37,350 baht

    Gold prices in Thailand saw a significant hike today, with the Gold Traders Association (GTA) reporting an increase that builds on the closing figures from the previous day. Today, March 19, gold ornaments were sold at 37,350 baht per baht-weight, a 150 baht rise from yesterday’s closing price. The latest data released by the association at 9.04am underlines a buoyant…

  • Feast your eyes: CRG plans to serve up 100-120 new eateries

    Feast your eyes: CRG plans to serve up 100-120 new eateries

    Central Restaurants Group (CRG) has set its sights on launching between 100 and 120 new dining establishments this year, in anticipation of the restaurant sector’s broadening scope. The industry’s worth is projected to approach a substantial figure of nearly 500 billion baht by 2024. Nath Vongphanich, CRG President, anticipates an overall market growth of 5-7% this year, pushing its value…

  • Index Living Mall targets low-income success defies mortgage setbacks

    Index Living Mall targets low-income success defies mortgage setbacks

    Index Living Mall (ILM), a Stock Exchange of Thailand (SET)-listed company, has observed rapid growth in the low-income segment, despite soaring mortgage rejection rates. This trend led to a strategic shift in the company’s approach, expanding its product range to include non-branded furniture and budget-friendly products imported from China. Kridchanok Patamasatayasonthi, ILM Managing Director, highlighted the exceptional 100% growth within…

  • Comptroller-General Department tackles budget disbursement delay

    Comptroller-General Department tackles budget disbursement delay

    The Comptroller-General’s Department is working to resolve the impediment in hastening budget disbursement, with a focus on speeding up budget funding into the economy for the fiscal year 2024. Director-General of the department Patricia Mongkhonvanit revealed that the delay in budget disbursement is majorly due to the high volume of appeals submitted by unsuccessful bidders for government projects. Each appeal,…

  • TPIPP announces coal-free green initiative plans by 2026

    TPIPP announces coal-free green initiative plans by 2026

    TPI Polene Power (TPIPP), the largest waste-to-energy (WTE) project developer and operator in Thailand, announced its coal-free plans as part of a broader green initiative. The Stock Exchange of Thailand (SET)-listed firm intends to be fully fuelled by renewable energy sources by 2026. Pakkapol Leopairut, TPIPP Executive Vice-President for accounting and finance, detailed the company’s ambitious green transition plan. Coal…

  • Virtual banks to revolutionise Thailand’s financial landscape

    Virtual banks to revolutionise Thailand’s financial landscape

    The Royal Gazette announced that virtual banks are set to become a reality in Thailand, with the Bank of Thailand (BoT) accepting applications from March 20 to September 19 this year. The aim is to stimulate competition and ensure the stability of the financial system, without limiting the number of licences available. Virtual banks are expected to cater to customers…

  • Scent-sational: Thailand set for foreign investment surge in fragrance oil

    Scent-sational: Thailand set for foreign investment surge in fragrance oil

    A surge in foreign investment in Thailand’s fragrance oil and aroma compound production is anticipated, which could boost the nation’s cosmetics industry, according to the Federation of Thai Industries (FTI). This follows a decision by a French firm to produce fragrance oil from Thai flowers, a move that showcases the country’s potential as a hub for the health and beauty…

  • Rising crypto prices invite hackers, Thai Digital Asset Association warns

    Rising crypto prices invite hackers, Thai Digital Asset Association warns

    The Thai Digital Asset Association (TDAA) warned of an increased threat from hackers targeting cryptocurrencies, as soaring prices are attracting both investors and fraudsters to the market. The alarm comes after digital assets in Thailand suffered a staggering US$24.2 billion loss to hackers in the previous year. Suppakrit Boonsat, a founder of Bitcast, a digital asset education firm, and the…

  • Government considers corn import ban to combat PM2.5 dust pollution

    Government considers corn import ban to combat PM2.5 dust pollution

    A potential ban on corn imports from neighbouring countries next year is being considered by the government to tackle the escalating issue of PM2.5 fine dust pollution in the northern regions. Prime Minister Srettha Thavisin recently visited Chiang Mai to assess the preventive actions and updates provided by government agencies regarding wildfire and haze prevention measures. The prime minister has…

  • Concerns over readiness of Thailand’s secondary cities for tourism

    Concerns over readiness of Thailand’s secondary cities for tourism

    The private sector has expressed concerns over the readiness of Thailand’s secondary cities for a major tourism boost, despite Prime Minister Srettha Thavisin’s declaration that 2024 will be “the greatest year for Thai tourism in history.” These concerns were voiced during a recent tourism workshop at the Queen Sirikit National Convention Centre, where the 62 year old Thai PM outlined…

  • Tasty travels: Thai SELECT campaign spices up tourism

    Tasty travels: Thai SELECT campaign spices up tourism

    The Travel, Taste, Eat Thai SELECT campaign, a collaboration between the Commerce Ministry and the Tourism Authority of Thailand, has been unveiled. This initiative is part of a soft power strategy aimed at promoting and bolstering Thai businesses, particularly certified Thai SELECT restaurants. The Deputy Commerce Minister, Napintorn Srisunpang, emphasised that the campaign is designed to ensure these establishments meet…

  • Bank of Thailand likely to cut policy rate in April, predicts SCB EIC

    Bank of Thailand likely to cut policy rate in April, predicts SCB EIC

    Siam Commercial Bank’s research centre, SCB EIC, anticipates that the Bank of Thailand is likely to initiate a decrease in the policy rate in April due to structural economic issues. The research centre predicts that the Monetary Policy Committee (MPC) will slash the policy rate by 50 basis points in the first half of this year. The initial rate cut…

  • Visa-free policies boost international travel and economies

    Visa-free policies boost international travel and economies

    The international travel industry experienced a significant rebound last year, following the implementation of visa-free policies by various governments. These policies aimed to rejuvenate their ailing economies through the influx of spending by foreign tourists. Thailand, for instance, witnessed 28 million arrivals in 2023 largely due to the strong performance in the last quarter. This surge was precipitated by visa…

  • Gold prices predicted to hit US,250 per ounce by year-end

    Gold prices predicted to hit US$2,250 per ounce by year-end

    A revision in the global gold prices outlook has been announced by the Gold Traders Association (GTA), projecting an increase to US$2,250 per ounce by year-end from its previous estimate of US$2,100. This adjustment comes in the wake of domestic prices reaching an all-time high of 36,700 Thai baht per baht weight yesterday morning. The President of GTA, Jitti Tangsithpakdi,…

  • Italian-Thai development grapples with liquidity crisis amid scandals

    Italian-Thai development grapples with liquidity crisis amid scandals

    Thailand’s leading construction firm, Italian-Thai Development Plc (ITD), is grappling with a liquidity crisis that has alarmed investors, regulators, and rating agencies. This scenario follows a series of local corporate scandals and debt defaults that have already unnerved the market. ITD confirmed yesterday, March 13, that it is seeking new loans from banks to alleviate the current cash crunch that…