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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With World Kindness Day just two days away on November 13, it’s the perfect time to reflect on how empathy and care can make a real impact, not just in our relationships but in our health, too. This day is...
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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…
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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…
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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…
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True Corporation amps up for royal spectacle along Chao Phraya
True Corporation supercharged its 5G, 4G, and WiFi networks ahead of the grand Royal Barge Procession sailing down the Chao Phraya River. This dazzling event journeys from Rama VIII Bridge to Wat Arun, promising top-notch connectivity for everyone eager to catch a glimpse. With extensive network testing already complete, True Corporation ensures they’re ready not just for the recent rehearsal…
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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…
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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…
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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…
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Thai Airways plans rehabilitation exit by mid-2025, banks to benefit
Creditors of Thai Airways International (THAI), particularly Bangkok Bank (BBL) and Krungthai Bank (KTB), are set to benefit from the airline’s planned exit from its rehabilitation scheme by mid-2025. The banks are being provided with several options for debt repayment, according to analysts. In recent reports submitted to the Stock Exchange of Thailand (SET) and the Securities and Exchange Commission,…
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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,…
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Banking stocks set to cash in as BoT preps for another cut
Stock market sleuths are buzzing as banking stocks look set to surge with global interest rates on the slide. All eyes are on the Bank of Thailand (BoT), expected to slash its policy rate again this December. Last week’s unexpected chop of 25 basis points to 2.25% marked the first cut in more than four years, echoing similar moves by…
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Bangkok gets a taste of Seoul: Korean food fest stirs up a culinary coup
In a culinary coup, South Korea’s Ministry of Trade, Industry and Energy teamed up with Kotra to dish out Seoul Food in Bangkok 2024, in the nation’s biggest food extravaganza yet. This mouth-watering event isn’t just about savouring the flavours, it’s a powerhouse meeting for food bigwigs eager to cook up new business deals, starting with Bangkok before taking the…
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Hong Kong urged to innovate for tourist spending boost
Hong Kong businesses need to innovate to attract tourist spending, rather than focusing on the decline in visitor expenditure, a senior official has advised. Warner Cheuk Wing-hing, Deputy Chief Secretary for Administration, highlighted yesterday, October 20, that tourists are still eager to spend but have heightened expectations. “We cannot just complain about why people aren’t spending money. It’s not that…
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Thailand’s drought and pests slash coconut yields, prices soar
The Agriculture Ministry revealed that the country’s mature coconut yield is expected to plummet to just 0.86 million tonnes this year, a sharp drop from last year’s 0.94 million tonnes. Blame it on a double whammy of prolonged drought and pesky infestations ravaging the country’s coconut trees. The knock-on effect is already being felt in the markets. Commerce Minister Pichai…
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NBTC partners with Facebook for digital marketing training
The National Broadcasting and Telecommunications Commission (NBTC) has partnered with Facebook and Kenan Foundation Asia to offer digital marketing training through 1,836 USO Net public Internet centres across the country. The Meta’s SME Academy and Seller Education course is designed to help individuals in remote areas increase their income through digital marketing skills. NBTC board chairman Sarana Boonbaichaiyapruck explained that…
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Gold hits record US$2,698.50 amid Middle East tensions
Gold prices surged to a new record high as heightened Middle East tensions drove investors towards the safe-haven asset, despite mixed economic data from the United States tempering expectations for significant interest rate cuts by the Federal Reserve this year. Bullion increased by 0.2% to US$2,698.50, surpassing the previous all-time high set yesterday by approximately one dollar. This rise came…
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China’s economy grows 4.6% in Q3 amid property downturn
China’s economy experienced a marginally better-than-expected growth in the third quarter, according to data released today. However, the persistent property downturn and weak consumer spending continue to weigh heavily on economic activity, compelling policymakers to contemplate further stimulus measures to invigorate growth. The world’s second-largest economy expanded by 4.6% year-on-year in the July-September period, surpassing the 4.5% forecast in a…
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Thailand, US bolster trade ties with focus on high-tech investments
Commerce Minister Pichai Naripthaphan and US Ambassador Robert F. Godec yesterday engaged in discussions focusing on trade tariffs and investment in high-tech sectors, aiming for strategic alignment. During their meeting yesterday, October 17, Pichai emphasised that the talks were crucial for establishing a strategic partnership and bolstering economic ties between Thailand and the US, enhancing both bilateral and investment relations.…
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Gearing down: Thai auto parts makers face shock as EVs speed ahead
Thai auto parts manufacturers for internal combustion engine (ICE) vehicles face significant disruption due to the rising popularity of electric vehicles (EVs), according to Tru Automotive, a supplier of auto parts under the TRW brand. Pornsak Ariyapongpairoj, Managing Director of Tru Automotive, stated that sales of parts for ICE cars are expected to decline as EV makers do not use…
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Thailand’s domestic tourism revenue to hit 970 billion baht
Festive events and new stimulus campaigns are set to boost domestic tourism revenue in Thailand to between 950 billion and 970 billion baht (US$28.6 and US$29 billion) this year, according to the Tourism Authority of Thailand (TAT). Despite these efforts, the target of 1 trillion baht (US$30 billion) will likely be missed due to a sluggish economy and the impact…
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All aboard: Vietnam charts a 7.2 billion baht track to China
Vietnam announced an estimated cost of 179 trillion dong (US$7.2 billion) to build a new railway connecting it with China‘s Yunnan province. The proposed 427-kilometre railway will traverse from Lao Cai province, through Hanoi, and extend to the port city of Haiphong and Ha Long City, according to the Vietnam News Agency. The country is actively pursuing the upgrade of…
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High-end hotels check in higher rates amid rising tourist numbers
High-end hotel operators are poised to increase room rates during the High Season as tourist numbers are anticipated to rise in the coming months, while mid-tier and lower-tier hotels continue to face challenges. The hotel operator sentiment index reveals this trend. Thienprasit Chaiyapatranun, President of the Thai Hotels Association (THA), reported that the average occupancy rate in September was 55%,…
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Cash ‘n’ climb: Thailand GDP rises but 2026 could be a steep drop
Thailand’s GDP forecast has been upgraded for this year and next to 2.8% and 3%, respectively, due to the government’s cash handout boosting the economy. However, analysts warn of an economic cliff in 2026 if no new growth engines are introduced. Kiatnakin Phatra Research (KKP) and BofA Global Research have both raised their Thai GDP outlooks for 2024 from 2.6%…
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Thailand and Laos spark cross-border renewable energy scheme
Thai officials are set to engage in discussions with the Laotian government to enhance the utilisation of renewable energy across borders, aiming to expedite the reduction of carbon dioxide emissions. The plan involves encouraging Thai businesses to purchase renewable power from Laos through a cross-border energy attribute certificate scheme, according to an official from the Energy Ministry who requested anonymity.…
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Powering on: Thailand energy plan sparks a 2.9 trillion baht boost
Thailand’s new National Energy Plan (NEP) aims to drive significant investment and promote clean energy, with a projected 2.9 trillion baht in capital spending over the next 13 years. Central to this initiative is the emphasis on solar energy to reduce carbon dioxide emissions. The NEP 2024, scheduled for implementation from this year until 2037, integrates a comprehensive power development…
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Nok Air takes off again: Ready to ‘baht’ back in business
Nok Air is plotting a major comeback, with a 5 billion baht cash injection on the cards for 2025. The Thai low-cost airline, which entered business rehabilitation in 2021, is now eyeing an exit in 2026, as CEO Wutthiphum Jurangkool outlines a path to financial recovery. In an interview with Bangkok Business, Wutthiphum revealed the funds will be used to…
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Thailand’s stock market sees a ‘baht’ of foreign interest
Foreign investors have increased their holdings of Thai shares by 1.37% in the first eight months of 2024, reaching a total of 5.18 trillion baht, based on data from the Stock Exchange of Thailand (SET). This rise highlights the growing interest in the technology, financial, and services sectors. By August 2024, foreign investors held over 5.18 trillion baht (US$155 billion)…
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Thailand’s SMEs to receive 1.9 billion baht support fund
Industry Minister Akanat Promphan is advancing initiatives to assist small and medium-sized enterprises (SMEs) in mitigating financial pressures and enhancing their technological capabilities to remain competitive. The Industry Ministry’s broader objective is to reform Thailand’s manufacturing sector, according to Akanat. To this end, the ministry plans to provide financial aid through its SME development fund, aiming to alleviate the financial…
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Tax exemption for corporate insurance payouts amid flood recovery
The Cabinet has sanctioned a tax exemption for corporate income derived from insurance payouts for policyholders impacted by this year’s floods. Government spokesman Jirayu Houngsub announced after the Cabinet meeting that companies in flood-affected areas with insurance coverage against floods will have their insurance payouts exempted from income tax, as per the Finance Ministry’s directive. For business operators needing loans…
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Brick by brick: ONEAM builds investor excitement with TIREIT launch
ONE Asset Management (ONEAM) is digging foundations in the investment world, launching the Thai Industrial Real Estate Investment Trust (TIREIT) for investors seeking fresh opportunities amidst a shifting financial landscape. With high interest rates finally shifting into the rear-view mirror, savvy investors are turning to alternative assets like TIREIT to spread their risk. Chief executive Pote Harinasuta has revealed that…
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KBank ‘assets’ itself with new ventures amid rising NPLs
Kasikornbank (KBank) is shaking things up and eyeing new profits by tackling its bad assets head-on via joint venture asset management companies (JV-AMCs), as non-performing loans (NPLs) climb higher across the banking scene. Rungruang Sukkirdkijpiboon, KBank’s co-President, spilt the beans that the bank is launching a fresh JV-AMC in partnership with Bangkok Commercial Asset Management (BAM), adding to its current…
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