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 12Go introduces Japan Rail Passes to enhance travel accessibility for international travellers
For those who have travelled throughout Thailand, 12Go is a well-known provider of various trips, though the platform itself has a much wider reach. Ranging from buses to planes, 12Go is undoubtedly a leading booking platform for travel throughout the...
-
Delta Electronics to invest US$1 billion in manufacturing and R&D
Delta Electronics (Thailand), the nation’s premier electronics firm by market capitalisation, is primed to inject between US$500 million and US$1 billion in a bid to enhance its manufacturing and research and development (R&D) capabilities over the next five years. A significant portion of this investment is earmarked for Thailand, disclosed CEO Victor Cheng. Cheng revealed that the capital expenditure surpassing…
-
Cryptomind group aims to triple AUM to 3 billion baht amid crypto rebound
Cryptomind Group Holdings announced its aim to triple its assets under management (AUM) to 3 billion baht (US$83 million) this year, following a robust rebound in the cryptocurrency market. This projection is based upon the performance of Merkle Capital Co Ltd, the group’s digital asset fund manager and Thailand’s first licensed entity in this field. The group’s confidence bolsters following…
-
Thailand risks losing satellite orbit rights at 50.5° East due to vacancy
Thailand’s entitlement to utilise the satellite orbit at 50.5° East may be revoked following its expiration in 2025 due to its prolonged vacancy. There’s speculation in the industry that the upcoming auctions for the unclaimed orbit slots at 50.5° and 142° E by the National Broadcasting and Telecommunications Commission (NBTC) might not be successful. This is due to the expectation…
-
Songkran festival projected to generate 24.4 billion baht in revenue
The Songkran festival, one of Thailand’s most anticipated events, is projected to yield an impressive 24.4 billion baht (US$682 million) in revenue. This figure is a result of an estimated 510,000 international visitors and 4.29 million domestic trips, as stated by the Tourism Authority of Thailand (TAT). In a bid to attract more international tourists, the government unveiled plans for…
-
Thailand to boost rice exports to Hong Kong and China
An upward trend in rice exports from Thailand to Hong Kong and China is anticipated this year, with a particular demand for riceberry and brown rice. This expectation is driven by the global economic recovery and a discerning preference for high-quality rice grains. Thailand is also aspiring to establish a distribution centre in Shenzhen to bolster its market presence. The…
-
Krungsri Auto predicts minimal growth in new auto loans despite EV boom
Krungsri Auto, Thailand’s leading auto loan provider, predicts a mere 0.4% increase in its new auto loans for 2024, despite the anticipated boom in electric vehicle (EV) sales at the upcoming 45th Bangkok International Motor Show. This forecast was shared by Congsin Congcar, the head of Krungsri Auto Group, after the company issued over 223 billion baht in new auto…
-
Government revenue falls short due to dip in oil taxes
There’s been a shortfall in the government’s revenue collection for the first four months of the 2024 fiscal year, largely due to a sharp drop in oil taxes. This data was disclosed by the Fiscal Policy Office (FPO) director-general, Pornchai Thiraveja, who highlighted that the government’s net revenue for the period of October 2023 to January 2024 was 824 billion…
-
Pilatus Marine to expand LPG marine transport across Asia
Pilatus Marine, Thailand’s leading liquefied petroleum gas (LPG) marine transport operator, is set to expand its services throughout Asia. The move forms part of a strategic initiative to increase its customer base and cater to the rising demand for marine transport of LPG and olefins, a crucial ingredient in plastic production. According to Chief Executive, Varawit Chimtawan, the expansion is…
-
Citi Thailand’s transformative era under Narumon’s leadership
The bustling financial landscape of Thailand is witnessing a transformative era under the leadership of 52 year old Narumon Chivangkur. With an enviable career spanning 28 years at Citi, she currently holds the esteemed positions of Citi Country Officer (CCO) and Banking Head of Citi Thailand. Her journey reflects not only her professional dedication but also her unique blend of…
-
Foreign funds return to SET amid Federal Reserve expectations
Foreign funds made a return to the Stock Exchange of Thailand (SET) in February, despite a 3.2% shrinkage of the SET index in the first two months of 2024. The investors’ return was driven by a decrease in expectations of the Federal Reserve’s policy rate cut, which was predicted to happen only thrice this year. Soraphol Tulayasathien, the SET’s senior…
-
Thai SEC approves private funds to invest in Bitcoin ETFs
Asset management firms have been granted permission by the Securities and Exchange Commission (SEC) to initiate private funds that invest in Bitcoin Exchange-Traded Funds (ETFs). However, this investment opportunity is only accessible to institutional investors and ultra-high-net-worth investors. The SEC board gave its nod to asset management firms managing private funds that invest in Bitcoin ETFs listed on US exchanges…
-
True Corporation and AIS to review auction of key spectrum bands
True Corporation and Advanced Info Service (AIS), both leading mobile phone service operators, are gearing up to review a draft concerning the auction of three key spectrum bands, 850 megahertz, 2100MHz and 2300MHz. The draft is set to be completed by the National Broadcasting and Telecommunications Commission (NBTC) by June. The impetus behind this action is to secure a sufficient…
-
Hair-raising secrets revealed: ‘Hair it like Beckham’ trends in cosmetic surgery
You’ve heard of “Bend it Like Beckham” but what about “Hair it Like Beckham” as intriguing developments in the world of cosmetic surgery emerge, revealing secrets on how celebrities such as David Beckham maintain a full head of hair, even in his golden years. At the heart of these revelations is Dr Piya Rungruxsiri, a board-certified plastic surgeon known as…
-
Thai industries federation urges stringent checks on imported produce
The Federation of Thai Industries (FTI) urged the government to intensify scrutiny of agricultural imports, particularly fruits and vegetables, from neighbouring nations and China, following the detection of pesticide contamination in some produce. Kriengkrai Thiennukul, the FTI chairman. stated that Thailand continues to import fruit and vegetables contaminated by chemicals banned in many countries. He emphasised the need for a…
-
Commerce Minister markets Thailand film industry in Hong Kong
Phumtham Wechayachai, commerce minister, is currently on a visit to Hong Kong to market Thailand’s film industry and Y Series TV dramas. The visit, which started recently and is scheduled to run until Tuesday, also includes exploring avenues to broaden the Hong Kong market for Thailand’s agricultural products. The visit is led by Phumtham, who is also the deputy prime…
-
Thai government plans six flagship AI projects in national strategy
Six flagship projects, including the development of an artificial intelligence (AI) workforce and the Thai large language model (ThaiLLM), are on the cards for the second phase of the national AI strategy and action plan. The initiation of these projects is pending approval from a new National AI Committee, appointed by Prime Minister Srettha Thavisin. An estimated budget of 1.5…
-
Retirement of baby boomers threatens leadership vacuum
The future of many businesses hangs in the balance as a significant number of top leaders retire, a trend accelerated by the fact that 10,000 Baby Boomers, who predominantly occupy managerial positions, are reaching the retirement age of 65 each day. That’s according to an eye-opening article published last year by Fortune magazine. The publication highlighted the mounting uncertainty for…
-
Thai AirAsia opposes airfare reductions due to operational costs
Thai AirAsia weighed in on the issue of high airfares which prompted calls for price reductions, arguing that slashing ceiling prices is not a feasible solution due to increased operational costs borne by airlines since the onset of the pandemic. The airline’s Chief Executive, Santisuk Klongchaiya, suggested increasing flights during the Songkran festival as a potential strategy to decrease average…
-
Vietnam’s rice exports projected to decline amid quality shift
A downward shift is projected for Vietnam’s rice exports in the current year, with estimates ranging between 6.5 and 7.0 million metric tonnes. This is a noticeable drop from the previous year’s record high of 8.1 million tonnes, as reported by the Vietnam Food Association. Vietnam, ranking third globally in rice exports after Thailand and India, indicated a strategic shift…
-
Thailand central bank anticipates lower rates due to virtual banking
The Bank of Thailand anticipates that the advent of virtual banks will usher in lower interest rates and fees due to the decreased operating costs associated with digital banking services, which do not require physical branches or large numbers of staff. The granting of virtual bank licences is expected to bring more competitors into the market, thereby stimulating competition within…
-
Thai EV sales surge by 603% amid government incentives
Battery electric vehicles (BEVs) sales in Thailand surged by 603% year-on-year to 73,568 units last year, with the upward trend expected to continue throughout this year, as per the Federation of Thai Industries (FTI). This growth is expected to outstrip that of internal combustion engine (ICE) vehicles, which witnessed a 13.7% year-on-year sales decline to 238,570 units in 2023, capturing…
-
Thailand’s visa exemption sparks rise in travel bookings to China
The visa exemption agreement between Thailand and China has sparked a significant rise in bookings from Thai travellers. During the Songkran holiday through May, airlines and tour operators noted an uptick in Thai passengers on some routes outnumbering their Chinese counterparts. Chotechuang Soorangura, Vice President of the Thai Travel Agents Association, highlighted the robust sales of tour packages to China…
-
Tech synergy: Arip’s Commart Comtech event unites Thais
The recent Commart Comtech IT event, organised by Arip, has brought together AI-equipped computers from leading brands, such as Asus, Acer, MSi, Lenovo and HP, for the first time in Thailand. The event, which started yesterday, March 7, and continues through Sunday at Bitec Bangna, is expected to upturn the downturn in consumer spending witnessed in the initial two months…
-
Bitcoin hits new high in baht on Bitkub amid global surge
Bitcoin‘s price achieved an unprecedented high of 2.37 million baht on Bitkub Exchange yesterday, a significant rise prompted by the cryptocurrency’s global price surpassing its previous record of US$69,000 per token in November 2021. This demonstrates an impressive 190% rally in the past year. Crypto financial intelligence platform, Coin Metrics, highlighted that Bitcoin hit its peak at US$69,210 on March…
-
National Telecom’s spectrum rights expiry threatens mobile traffic quality
National Telecom (NT), a state telecom company, faces a potential threat to its spectrums as the rights to three of its spectrum ranges are set to expire in September next year. The National Broadcasting and Telecommunications Commission (NBTC) has been urged to devise a transparent plan to reallocate these spectrums, which are currently held by NT. The spectrum ranges in…
-
Thai PM to visit Europe, aiming to bolster trade and investment
Prime Minister Srettha Thavisin of Thailand is set to travel to Germany and France in an official capacity. The visit, scheduled for March 7 to March 14, aims to bolster trade and investment between Thailand and these European nations. Accelerating the completion of a Free Trade Agreement (FTA) and advocating for visa exemptions for Thai passport holders are top priorities.…
-
Thai economy predicted to bounce back in Q2 despite sluggish start
The Joint Standing Committee on Commerce, Industry and Bangkok (JSCCIB) indicated that the Thai economy, which is set to experience sluggish growth this year, is expected to pick up in the second quarter. This projection is attributed to the anticipated state budget spending and a reduction in tension within the Red Sea region. The National Economic and Social Development Council…
-
The rise of Digital Nomadism: A guide for Thailand’s wanderers
These days, work is no longer defined by being locked within four office walls from 9 to 5. The world is going through a transformation and that includes the way we work. The nomadism trend is just an example of how the borders between the types of lifestyle disappear and people become able to combine different elements of travel, adventures,…
-
OR’s SDG policy fuels Thailand’s sustainable economic growth
PTT Oil and Retail Business (OR) has adopted a Small-Diversified-Green (SDG) policy, aiming to stimulate Thailand’s economic growth through sustainable practices. This move aligns with the country’s broader strategy of reducing carbon footprints by 2030. The SDG policy focuses on empowering small communities as key drivers of economic recovery, particularly in the tourism sector tipped to fuel the national GDP…
-
Thai PM invites Aussie firms to invest in clean energy
During the 2024 ASEAN-Australia Special Summit, Srettha Thavisin, the Prime Minister of Thailand, extended an invitation to prominent Australian companies to invest in Thailand’s electric vehicle (EV) battery, clean energy, and transport logistics sectors. The summit, which marks five decades of Australia’s partnership with ASEAN, is being held in Melbourne, Australia. PM Srettha used this opportunity to meet with his…
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.