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 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...
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Thailand’s TV market scores big with global sports events
Thailand’s TV market is poised for significant growth this year, driven by major global sports events, according to LG Electronics (Thailand). The head of marketing at LG Electronics (Thailand), Amnaj Singhachan, highlighted that the UEFA Euro 2024 football tournament, which runs from June 14 to July 14, and the Summer Olympics in Paris from July 26 until August 11, followed…
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Harman hits the gas with Thailand factory for electronic auto boost
Harman, a subsidiary of Samsung Electronics based in the United States, has announced the establishment of its first factory in Southeast Asia, selecting Thailand as the location for its production hub aimed at exporting electronic automotive products. Harman’s head of operations, Sami Krimi, stated his excitement at the project. “Thailand’s extensive experience in the automotive and related industries has encouraged…
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Commerce Ministry monitors 18 categories as transport costs surge
The Commerce Ministry launched a comprehensive monitoring initiative for prices across 18 categories as transport costs for the logistics sector surged by up to 9%. The Director-General of the Internal Trade Department, Wattanasak Sur-Liam, stated that the categories under scrutiny include instant noodles, fresh food, canned food, bagged rice, seasoning sauce, vegetable oil, carbonated drinks, milk and dairy products, electrical…
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PDMO issues 20 billion baht in ESG bonds
The Public Debt Management Office (PDMO) is set to issue 20 billion baht in sustainable bonds to institutional investors this year. The public debt advisor for PDMO, Jindarat Viriyataveekul, stated that these bonds are designed for businesses adhering to environmental, social, and governance (ESG) principles. Sustainable bonds are a subset of ESG bonds, and PDMO currently has 467 billion baht…
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AI to impact less than 4% of Thailand’s service sector jobs
Artificial intelligence (AI) is projected to have a limited impact on employment in Thailand, with fewer than 4% of service sector workers at high risk of being replaced by the technology, according to Kasikorn Research Center (K-Research). A study conducted by Microsoft and LinkedIn revealed that 74% of Thai business leaders, compared to 66% globally, stated they would not hire…
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Thailand’s exports surge in May with agricultural products
Thailand’s exports reached their highest level in 14 months, achieving a 7.2% year-on-year growth in May, largely due to a surge in agricultural products. Director-General of the Trade Policy and Strategy Office Poonpong Naiyanapakorn announced that the value of exports in May expanded to US$26.2 billion (approximately 960 billion baht), marking a significant gain of 7.2%. Thai shipments, excluding gold,…
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Government may raise foreign condo ownership limit to 75%
The government considers increasing the foreign ownership limit in condominiums from 49% to 75% of a building’s usable space, as disclosed by Deputy Prime Minister Phumtham Wechayachai. The Interior Ministry is evaluating the feasibility of extending the maximum leasehold period for foreigners from 50 years to 99 years. Phumtham stated that this proposal was first discussed at a Cabinet meeting…
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Food delivery market grows as economy threatens restaurants
The online food delivery market in Thailand is experiencing growth but the challenging economy might force closures of between 50,000 and 100,000 small restaurants. Thailand has approximately 700,000 restaurants, including mobile street vendors, with the total business valued at 800 billion baht. Online food delivery services contribute 15% to this total. Chief Executive of Line Man Wongnai, Yod Chinsupakul, reports…
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Lamps out: Lampang horse-drawn carriage rides face unbridled end
The famed horse-drawn carriage rides in Lampang may soon become a relic of the past, as dwindling tourism revenue fails to attract new generations to sustain the business, according to the Tourism Council of Lampang. Lampang registered 559,892 visitors in the first four months of this year, a 0.52% decline year-on-year, with only 35,131 foreign travellers. Despite the drop in…
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Thai industries sentiment index drops to 88.5 as layoffs rise
Thai Industries Sentiment Index (TISI) experienced another decline in May, dropping to 88.5 from April’s 90.3 points, as 15,000 workers have been laid off since the beginning of the year, according to the Federation of Thai Industries (FTI). Layoffs in the first five months of 2024 emerged as the TISI, which measures the manufacturing sector’s health, fell for the second…
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DP World eyes investment in Thailand’s 1 trillion baht Land Bridge
Dubai-based logistics giant DP World has expressed interest in investing in Thailand’s ambitious 1-trillion-baht Land Bridge project, as confirmed by the Ministry of Transport. Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, will meet with Prime Minister Srettha Thavisin tomorrow, June 21, to discuss potential collaboration on the project. DP World is renowned as the world’s third-largest…
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BoT opposes cash handout scheme, urges help for those in need
The Bank of Thailand (BoT) firmly opposes the digital wallet cash handout initiative proposing a 500 billion baht cash distribution to nearly all adult citizens to boost consumption, emphasising that it would be more beneficial to directly assist those in need. Private consumption is expected to grow by about 4% this year following a record 7% increase last year. However,…
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DES Ministry snags Starlink sets in cosmic online crime crackdown
Digital Economy and Society (DES) Ministry officials confiscated 58 sets of Starlink satellite equipment allegedly intended for use by fraudsters to send and receive high-speed Internet signals via satellite, as part of a broader campaign to combat online crime. DES Minister Prasert Jantararuangthong highlighted that efforts to curb online crimes, such as removing unauthorised cell signal towers and cross-border cables, have…
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Thailand’s cybersecurity spend critical as cybercrime costs surge
Thailand’s current expenditure on cybersecurity stands starkly low at just 0.2% of corporate revenue, despite the looming surge in cybercrime-related costs projected to reach US$10.5 trillion globally by 2025, according to cybersecurity firm Fortinet. Krungthai Compass, the research division of Krungthai Bank, anticipates that Thailand’s cybersecurity investment will climb to 18 billion baht (US$490 million) by 2025. This growth, averaging…
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Autostore drives into Thailand for robotic expansion
AutoStore, a leading automated fulfilment system company based in Norway, has chosen Thailand for its second overseas robot manufacturing base to strategically position itself closer to key markets. Mats Hovland Vikse, chief executive at AutoStore, revealed the thinking behind the move. “Since 2012, our robots have been manufactured and shipped exclusively from Poland. With increased demand in our automated fulfilment…
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Why is Thailand a great place to get custom suits made?
Custom clothes are a common site, not just in Thailand but across Southeast Asia. Tailoring is an age-old profession in Thailand and Vietnam and is especially popular within the Sikh communities. In Thailand, tailoring is more than just a service; it’s an experience that shows how traditional skills can be combined with modern style. Let’s explore the world of custom…
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A2D Ventures Forges Strategic Partnership with The Urban Office Thailand to Empower Southeast Asian Entrepreneurs
A2D Ventures, Southeast Asia’s prominent early-stage venture capital firm and angel investing platform facilitating connections between angel investors, family offices, and venture capitalists with early-stage startups across the region, proudly announces its partnership with The Urban Office Thailand. Renowned for its commitment to providing flexible workspace solutions tailored to startups at every phase of their growth journey, The Urban Office…
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Thailand amps up EV efforts to recharge used battery market
Thailand is intensifying its efforts to boost the electric vehicle (EV) supply chain with new investment incentives targeted at the repair and refurbishment of used EV batteries, according to the Board of Investment (BoI). The BoI introduced a new investment promotion category for service centres specialising in the repair, repacking, and reuse of used EV batteries. This initiative is part…
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More new businesses than closures in Thailand, employment stable
New business registrations in Thailand continue to outpace factory and business closures, with employment figures remaining stable, according to the Bank of Thailand. Assistant Governor for the Monetary Policy Group and Secretary of the Monetary Policy Committee, Piti Disyatat stated that the central bank is not alarmed by the current rate of factory and business closures, as they are fewer…
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Shifting gears: Thai auto parts makers urged to spark new path in medical devices
The Federation of Thai Industries (FTI) is urging local auto parts manufacturers to adapt to the technological disruption caused by electric vehicles (EVs) and transition to producing medical devices, which are projected to have a promising future. According to the FTI, auto parts makers accustomed to internal combustion engines are finding it difficult to adapt to electric mobility technology, as…
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Thai baht leads Asian currency declines amid holiday trade
Emerging Asian currencies experienced declines in holiday-thinned trade today, with the Thai baht leading the fall as the US dollar remained firm and Chinese economic data highlighted an uneven recovery trajectory. Markets were notably quiet across Asia due to closures in Singapore, Malaysia, Indonesia, the Philippines, and India. The Thai baht declined by up to 0.5%, influenced by weaker gold…
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Kerry Express delivers 2.8 billion new shares
Kerry Express (Thailand) Plc (KEX) announced a significant capital increase through the issuance of up to 2.8125 billion new ordinary shares, each with a par value of 0.50 baht. These shares will be offered to existing shareholders for 3.20 baht per share in a rights offering. SF Express Group, which holds a 62.7% stake in KEX, has confirmed its intention…
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Finance Ministry to fast-track NPL debtor blocklist removal
The Finance Ministry is set to engage in discussions with the Bank of Thailand and the National Credit Bureau (NCB) to address the issue of non-performing loans (NPLs) caused by the Covid-19 pandemic, specifically targeting Code 21 debtors. The aim is to expedite the removal of these debtors from the bureau’s blocklist, enabling quicker access to credit. Deputy Finance Minister…
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Chinese tourists shift to local travel amid rising costs, visa woes
A shift in Chinese travel preferences is reshaping the global tourism landscape. Rising costs and visa challenges are driving Chinese tourists to opt for local and short-haul destinations instead of international travel. The slower-than-expected revival of China’s outbound travel market, which was the world’s top spender on international tourism pre-pandemic, is impacting travel-related businesses, hotels, and retailers worldwide. Eighteen months…
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Thailand to explore AANZFTA ties and new economic partnerships
Prime Minister Srettha Thavisin has committed to strengthening collaboration under the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), maintaining current markets, and forging new economic partnerships, government spokesman Chai Wacharonke announced yesterday. Delegates from the Commerce Ministry and the Department of Trade Negotiations (DTN) participated in the 21st AANZFTA Joint Committee Meeting held in Auckland, New Zealand, from May 26 to…
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AWC to spice up 10-billion-baht Phenix food centre in Bangkok
A prominent player in Thailand’s real estate sector, Asset World Corp. (AWC), unveiled its latest venture, Phenix, a 10-billion-baht wholesale and retail food centre. Positioned to meet the ongoing demand in the tourism and food segments, Phenix aims to become a new landmark in Bangkok’s bustling food scene. AWC Chief Executive and President Wallapa Traisorat announced that the centre was…
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Saudi Arabia approves live animal imports from Thailand
Saudi Arabia has approved the import of live cattle, sheep, and goats from Thailand, according to Commerce Minister Phumtham Wechayachai. The approval was communicated by the Saudi Arabian Ministry of Environment, Water and Agriculture through the Saudi Arabian and Thai foreign ministries. Phumtham noted that these live animals could be imported from Thailand and subsequently kept and slaughtered in Saudi…
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Pride Month to boost Thai economy by 4.5 billion baht
June’s Pride Month is anticipated to stimulate over 4.5 billion baht in economic activity, according to Deputy Prime Minister and Commerce Minister Phumtham Wechayachai. Phumtham announced yesterday that the government, led by Prime Minister Srettha Thavisin, is actively endorsing sexual diversity and collaborating with the private sector to organise additional Pride Month festivities. These events aim to attract LGBTQ+ tourists…
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Revved up: Thai used car market set to accelerate
The used car market in Thailand is poised for growth in the latter half of this year as financial service providers may ease lending criteria for prospective buyers. According to the President of the Association of Used Cars, Vichai Suwanasilar, this development follows discussions about stringent loan conditions. “We talked about lending with banks and finance companies, which affects the…
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Thailand assists tourists stranded by tour operator’s bankruptcy
The Tourism Authority of Thailand (TAT) has committed to supporting tourists stranded due to the bankruptcy of major German tour operator FTI Group, while also collaborating with government officials to ensure hotels are compensated by the company. Siripakorn Cheawsamoot, TAT Deputy Governor for Europe, Africa, the Middle East, and the Americas, reported that there have been no reports of stranded…
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