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 Boost your business in Thailand: 5 powerful benefits of using BoostedByPeople
As a business owner in Thailand, you know how tough it is to stand out online. Ads get skipped, scrolled past, or flat-out ignored. People are more sceptical than ever about what they see on their feeds. And even when...
-
Thai hotel industry resists proposed minimum wage hike
The tourism industry has voiced its concerns over the recent approval by the tripartite wage committee to increase the minimum wage to 400 baht for four-star hotels in 10 key tourism cities, beginning with the Songkran holiday. Hoteliers argue that the implementation of the wage hike is unjust as the recovery from the pandemic has been uneven across the targeted…
-
Thailand’s BoI plans more foreign semiconductor investment
The Board of Investment (BoI) of Thailand has expressed an interest in attracting further foreign investment for the production of advanced semiconductors this year. This move comes as numerous businesses from China and Taiwan are looking to expand their investments in Thailand, particularly for printed circuit boards, to circumvent geopolitical risk, said Wirat Tatsaringkansakul, the BoI Deputy Secretary-General. “Companies will…
-
PTT plc eyes green methanol production
PTT Plc, a major national oil and gas conglomerate, is contemplating the construction of a green methanol production facility. The project, costing an estimated 3.1 billion baht, aligns with PTT’s initiative to curtail carbon dioxide emissions and manufacture methanol-derived fuels. Traditionally, methanol production relies heavily on fossil fuels. However, PTT’s proposed method utilises biomass or carbon capture techniques, paving the…
-
LiVE Fin Corp launches new S curve to capital market initiative
LiVE Fin Corp, under the aegis of the Stock Exchange of Thailand (SET), has set in motion a new initiative that seeks to bolster the potential of 60 entrepreneurial entities, startups, and small to medium-sized enterprises (SMEs) in high-growth sectors. The initiative, christened “New S Curve to Capital Market,” has been crafted in partnership with KPMG Thailand, the National Innovation…
-
Thai govt accelerates Thai-European FTA negotiations
The Thai government is speeding up negotiations for the Thai-European Free Trade Association (EFTA) to conclude within the current year. This information followed a discussion between Commerce Minister Phuntham Wechayachai and Swiss Ambassador Pedro Zwahlen. The minister revealed that the talks are being hastened following the policy of Prime Minister Srettha Thavisin’s administration, which desires to expand opportunities and bolster…
-
Bitcoin forecast to break US$80,000 barrier by year-end
Cryptocurrency prices, particularly Bitcoin, have experienced an unexpected surge this year. The world’s largest cryptocurrency exchange, Binance’s chief executive, Richard Teng, previously predicted Bitcoin would conclude 2024 at approximately US$80,000. However, current market trends indicate that Bitcoin could surpass that figure before the year ends. Bitcoin’s popularity has been on the rise, reaching an all-time high of US$73,750 in mid-March.…
-
Thai tourism federation calls for urgent supply development
The Federation of Thai Tourism Associations (FETTA) has revealed its intention to present an urgent demand for supply development to the government. The appeal is due to a rising demand that is overburdening the existing infrastructure. This was disclosed by FETTA Secretary-General Adith Chairattananon. Adith explained that while the government has been keen on stimulating demand by granting visa exemptions…
-
Thai economy struggles post-election, foreign investment declines
Thailand’s economy continues to struggle despite the first General Election since 2019, which was anticipated to stimulate growth and attract foreign investors. Instead, the nation has seen its benchmark stock index decline for the fifth quarter consecutively, foreign investment is waning, and the baht is showing the second-worst performance amongst Asian currencies. According to Narongsak Plodmechai, CEO of SCB Asset…
-
Thai domestic car sales slump hits 26% as pickup sector suffers
The Federation of Thai Industries (FTI) reported a 26% year-on-year drop in domestic car sales for February, primarily affecting the pickup sector. This downturn is expected to hit a two-year low. The total number of cars sold in the country came to 52,843 units, a significant drop from the previous year’s 71,551 units. Despite the worrying sales slump, Surapong Paisitpatanapong,…
-
Growth in Thai exports expected in Q1 due to stable freight costs
Thailand is set to experience a 1 to 2% growth in export value during the initial quarter of the year, fuelled by stable freight costs and rising shipments of key commodities such as rubber, rice, pet food, electronics, and automobiles. This positive forecast is shared by Keerati Rushchano, the permanent secretary of commerce, who anticipates a steady growth trajectory as…
-
Thailand forecasts 558 billion baht foreign investment in key sectors
Following a series of global roadshows led by Prime Minister Srettha Thavisin, the Board of Investment (BoI) anticipates a surge of at least 558 billion baht (US$15 billion) in foreign investment inflows into Thailand. The funds are expected to be channelled primarily into four critical sectors – digital, electric vehicles (EVs) and components, electronics and semiconductors, and logistics. BoI’s Secretary-General,…
-
Hong Kong’s national security law: Foreign corporations
Corporate lawyers and consultants have revealed that foreign corporations operating in Hong Kong have been revisiting their strategies since the previous year in anticipation of the recently passed domestic national security law. Despite assurances from the city and central authorities that the legislation, dictated by Article 23 of the Basic Law, would neither disrupt operations nor negatively impact the city’s…
-
Thai stock market hits snooze button despite extended hours
Despite the extension of the Stock Exchange of Thailand‘s (SET) trading hours and looming interest rate cuts by the Bank of Thailand, the Thai market failed to rally yesterday. Concerns over a premature rate cut and the aftermath of a recent terrorist attack near Moscow fuelled investor anxiety. The SET yesterday, March 25, increased its trading period from 270 to…
-
Thai EV market shifts into gear with Chinese investment
Major automobile companies are forecasting a rapid escalation in the Thai electric vehicle (EV) market, propelled by increased investment from Chinese EV manufacturers. This is anticipated to ignite a price war as manufacturers strive to lure consumers with competitive pricing. This viewpoint was shared by Narong Sritalayon, the managing director of Chinese automaker Great Wall Motor (GWM), in a statement…
-
True Corporation and DTAC merger lawsuit stirs telecom sector
A recent order from the Supreme Administrative Court may be causing ripples in the telecommunication sector. The court has asked the Central Administrative Court to accept a lawsuit filed by five individuals, aimed at nullifying the National Broadcasting and Telecommunications Commission’s (NBTC) approval of the merger between True Corporation and Total Access Communication (DTAC). However, industry insiders view this order…
-
Thai fruit frenzy: Chanthaburi aims to peel away competition
Chanthaburi is set to be promoted as the leading fruit exporter to China by the Commerce Ministry, to drive sales of durian and mangosteen to exceed 3 billion baht. This move has been catalysed by a recently signed memorandum of understanding (MoU) between the Thai-Chinese Agricultural Import-Export Association and the China Fruit Marketing Association. Commerce Minister Phumtham Wechayachai emphasised that…
-
Thai gold prices see slight rise, now at 37,900 baht per baht-weight
Thai gold prices have experienced a modest increase, catching the attention of potential buyers and investors. As of the latest update from the Gold Traders Association (GTA), the cost of gold ornaments rose by 50 baht since the last recorded prices, indicating a slight uptick in the precious metal’s market value. The GTS’s website revealed that as of 9.09am today,…
-
Chinese EV investments in Thailand linked to zero dollar tours
Chinese Electric Vehicle (EV) makers’ investments in Thailand have sparked comparison with a notorious scam, the zero dollar tours, among some industry insiders. The scam, which came into the limelight in 2016, involved Chinese tourists being enticed with inexpensive tour packages in Thailand, only to be compelled to purchase overpriced souvenirs and services. The parallel is being drawn because Chinese…
-
Thailand govt releases 1.35 trillion baht from 2024 budget
Between October 1, 2023, and March 8, a whopping 1.35 trillion baht has been released from the 2024 fiscal budget by the Thailand government, according to data from the Comptroller-General’s Department. Comptroller-General’s Department Director-General Patricia Mongkhonvanit explained that the 2024 Expenditure Budget Act draft is still under review by the House of Representatives. In such scenarios, the Budget Bureau’s Budgetary…
-
Thailand Stock Exchange shakes up trading oversight
The Thailand Stock Exchange (SET) has launched a series of initiatives to bolster trading oversight and refine company listing criteria. This move is to regain investor confidence, following a 15.5% negative return last year, the worst performance globally among stock exchanges. Foreign investors offloaded 192 billion baht worth of Thai shares last year, with this trend continuing into the first…
-
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
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
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
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
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., 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
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$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‘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, 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…
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.