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 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...
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Samsung aims for 20% revenue rise with enterprise-focused mobile devices
Samsung is set to enhance its footprint in the corporate user base by unveiling an array of smart devices and solutions. The technology giant anticipates a 20% rise in revenue from mobile devices specifically tailored for the enterprise market this year, revealed Panupat Kasemsuk, the head of B2B mobile experience at Thai Samsung Electronics Co. Panupat highlighted that business customers…
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Commerce Ministry sees business boom: Registrations set to soar
The Business Development Department of the Commerce Ministry foresees a positive trend in new business registrations for the year. The projection rides on the anticipated recovery of the tourism sector, thriving e-commerce, and the burgeoning electric vehicles (EV) market. In the first couple of months of 2024, new business registrations have seen a 1.57% increase, reaching a total of 17,270.…
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Thailand’s influencer marketing boom sparks regulatory debates
The burgeoning influencer marketing trend is powering the local creator economy while simultaneously causing societal implications, thereby sparking debates over regulatory measures. Thailand’s National Economic and Social Development Council (NESDC) and Nielsen’s data highlighted the meteoric rise of influencers, with over 13.5 million influencers in the ASEAN Economic Community, and more than two million influencers in Thailand alone. The scramble…
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Post-pandemic shift in tourist spending habits reveals TikTok’s role in Thai travel
The Tourism Authority of Thailand (TAT) divulged insightful data revealing a shift in foreign tourists’ spending habits post-pandemic and the surge in popularity of TikTok as a source of travel information and inspiration. A survey conducted by TAT’s digital R&D Deputy Governor Teerasil Tapen, encompassing 30,054 tourists in 2023, unveiled an increased average expenditure on individual trips, rising from 48,209…
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Thailand stock exchanges extend trading hours to attract foreign investors
The Stock Exchange of Thailand (SET) and the Market for Alternative Investment (MAI) announced an extension of their daily trading hours starting March 25. This move will see the afternoon session open half an hour earlier, thus facilitating five hours of trade on the two exchanges daily. The SET stated that this alteration in trading hours is an effort to…
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Thailand trials first mobile phone emergency alert system
The inaugural trial of Thailand’s first cell broadcast service (CBS), a pioneering emergency alert system for mobile phones, kicked off yesterday. The trial was a joint venture between the National Broadcasting and Telecommunications Commission (NBTC) and Advanced Info Service (AIS). Conducted at the NBTC headquarters on Phahon Yothin Road, the trial demonstrated the capabilities of the CBS system. The system…
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Thailand urged to diversify agricultural exports to boost value
A study by the Commerce Ministry urges agricultural businesses to widen their export markets to mitigate risk and boost the value of food products and processing. The advice follows findings that the majority of export-oriented agricultural goods are commodities or those with only rudimentary processing. Deputy Commerce Minister Napintorn Srisunpang disclosed that agricultural and agro-industrial products accounted for 17.3% of…
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Sena unveils rent-to-own strategy to tackle mortgage rejections
Sena Development, a publicly traded property developer, revealed new plans this month to rent and transfer ownership of its unsold condo units. This move is in response to a high rate of mortgage rejections. The company aims to enhance sales and revenue in the current year. Kessara Thanyalakpark, the managing director, stated that the innovative strategies would target two distinct…
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China aims for 5% growth amid economic slowdown
China is poised to set its growth target for the year at about 5%, according to a government work report obtained by Bloomberg News. This growth target hints at the possibility of the government introducing more stimulus to boost the economy’s confidence, which is currently slowing. Premier Li Qiang is expected to disclose the annual gross domestic product (GDP) goal…
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Gold prices hit record high in Thailand, predicted to climb further
Gold prices in Thailand have reached a historic peak, with projections indicating a possible increase to 38,000 baht per baht weight within the year. This surge is largely attributed to the continued global increase in gold prices, which are nearing a two-month high of over US$2,080 per ounce, according to the Gold Traders Association (GTA). The price of gold bars…
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Kia considers setting up electric vehicle factory in Thailand
Premium Korean car manufacturer, Kia, is exploring the possibility of setting up an electric vehicle (EV) factory in Thailand, as per an announcement made by Kia Sales (Thailand). The move comes in response to the rapidly expanding EV market in the country. If approved by Kia Corporation, the parent company which falls under the Hyundai Motor Group, Thailand would become…
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Thailand’s internal trade dept to cut pig production for price stability
The Internal Trade Department is looking to partner with the Department of Livestock Development (DLD) and the Swine Raisers Association of Thailand, with a plan to cut pig production down to an average of 8,000 piglets each day. This action aims to stabilise the price for livestock producers across the country. According to the director-general of the Internal Trade Department,…
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Mono next to test AI-generated news anchors on digital platform
Mono Next, a publicly traded media and content provider, announced plans to test artificial intelligence (AI)-generated news anchors on its Mono 29 digital TV channel and online platform. The trial run, set to kick off next month, will be used to gauge audience reactions to these AI-generated anchors. Patompong Sirachairat, Mono’s chief executive, clarifies that the move is not aimed…
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Foreign currency deposits surge in Thailand
The past year has seen a significant upturn in foreign currency deposits (FCDs), spurred by appealing interest rates due to global rate hikes. According to data from the Deposit Protection Agency (DPA), member financial institutions observed a surge in FCDs to a total value of 812 billion baht (US$22 billion) by November 2023, up from an earlier figure of 640…
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Thailand intensifies crackdown on illegal short selling
The Chairman of the Stock Exchange of Thailand (SET), Pichai Chunhavajira, announced plans to intensify the country’s crackdown on illegal short selling as shares continue to underperform. Currently, the law permits penalisation of only the securities companies that initiate the short-selling order. However, the market authorities are contemplating amending the law to allow the prosecution of both individuals and companies…
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Bitcoin nears all-time high, marking a 50% rise this year
Bitcoin’s value witnessed a steep rise today, reaching a two-year high of US$64,285, a mere 2% shy of its all-time record of US$68,999.99 set in November 2021. This surge marks a 50% increase in the cryptocurrency’s value since the beginning of this year, with the majority of this growth observed in recent weeks. The rise in Bitcoin’s value corresponds with…
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BAAC to launch e-commerce platform with Chinese tech firm
The Bank for Agriculture and Agricultural Cooperatives (BAAC) is in discussions with a prominent Chinese technology firm to establish a joint venture. The focus of this venture is to create an e-commerce platform to streamline the sale of agricultural commodities to China, as revealed by Chatchai Sirilai, the bank’s president. In this joint venture, the BAAC will not be considered…
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Thailand’s TQM Insurance introduces cover for PM2.5 pollution-related diseases
Health concerns over PM2.5 air pollution in Thailand are escalating, prompting insurance companies to develop policies that cover respiratory diseases attributed to the hazardous particulate matter. TQM Insurance Brokers, in collaboration with Bangkok Insurance (BKI), has introduced a novel health insurance policy specifically designed for ailments related to PM2.5 dust exposure. The policy stipulates that if an insured individual is…
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Thai gold prices surge, reach new high at 35,750 baht per baht
Gold prices in Thailand saw a continuous surge today, prompting those interested in trading the precious metal to act swiftly. The Gold Traders Association (GTA) reported a significant increase compared to yesterday’s closing rates, with the selling price of gold ornaments per baht weight reaching 35,750 baht today marking a 50 baht increase from the previous day. The domestic market…
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Thailand gov urges bank to cut interest rate amid economic crisis
The ongoing feud between Prime Minister Srettha Thavisin and Bank of Thailand Governor Sethaput Suthiwartnarueput regarding interest rates remains the focus of media attention. Meetings of the Monetary Policy Committee (MPC) have been closely watched as elements of the government and business sector believe the central bank needs to reduce the policy rate. The MPC is set to meet six…
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TKC aims for cybersecurity sector growth in Thailand
Turnkey Communication Services (TKC), a digital solutions provider listed on the Stock Exchange of Thailand (SET), has set its sights on the cybersecurity sector, forecasting that it will account for 5% of its total income this year. This ambitious move comes as part of a broader strategy to achieve double-digit annual growth over the next five years. TKC’s chief executive…
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Gold prices experience significant rise, says GTA
Today saw a marked increase in gold prices, according to the Gold Traders Association (GTA). The buying prices for gold ornaments reached 34,473.84 baht (US$966) per baht weight, and gold bars were valued at 35,100 baht (US$984) per baht weight. On the other hand, the selling prices were determined at 35,700 baht (US$1,001) per baht weight for gold ornaments, while…
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Thailand’s aviation hub plans receive airline approval
The Thai government’s initiative to transform the country into an aviation and logistics hub has been met with approval from airlines. However, concerns regarding congestion at major airports and the significant investment required to accommodate increasing demand persist. Prime Minister Srettha Thavisin recently unveiled plans to capitalise on Thailand’s strategic location in Southeast Asia to attract more international airlines to…
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Thailand and Cambodia reignite talks on joint petroleum production
The Petroleum Exploration and Production Industry Club has shown its full support to the renewed efforts of the government to kickstart the oft-stalled talks on joint petroleum production between Thailand and Cambodia. The talks revolve around the Overlapping Claims Area (OCA), located in the Gulf of Thailand. Nipatsin Yimyam, the club’s chairman under the Federation of Thai Industries, stated their…
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AIS partners with ministry byte cyber threats in Thailand
Advanced Info Service Plc (AIS), in a significant partnership with the Ministry of Social Development and Human Security, has undertaken an initiative to tackle cybersecurity challenges. Under the Aunjai Cyber syllabus, the collaboration aims to arm both the ministry’s staff and the public with indispensable digital intelligence skills. AIS Chief Executive Somchai Lertsutiwong emphasised the importance of the partnership with…
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AWC plans 36 billion baht investment in high-end tourism
Asset World Corp (AWC), a Stock Exchange of Thailand (SET)-listed company, maintains a positive outlook on high-spending tourists and outlined plans to invest in projects estimated at 36 billion baht (US$1 billion) this year. Wallapa Traisorat, AWC’s chief executive and president, highlighted Thailand’s potential to attract high-spending tourists from regional competitors through quality property development, specifically hotels in partnership with…
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Bank of Thailand to accept virtual banking licences applications
This month, the Bank of Thailand is set to welcome applications for virtual banking licences, a move that has piqued the interest of numerous business operators. The finance ministry is currently in possession of a draft outlining the regulations for virtual banking, which is due to be made public in the Royal Gazette. Suwannee Jatsadasak, a 42 year old assistant…
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Weakening Thai baht forecast due to economic cost factors
Analysts predict a decline in the value of the Thai baht, the nation’s currency, attributed to various factors such as sluggish economic growth, elevated freight expenses, and discord regarding reductions in interest rates. It is anticipated that the baht will fluctuate within the range of 36 to 36.50 against the US dollar throughout this month. On Wednesday, the baht recorded…
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Manufacturing production index dips in Thailand amid economic challenges
The Office of Industrial Economics (OIE) has reported a 2.94% year-on-year dip in the Manufacturing Production Index (MPI), falling to 99.2 points in January. This downturn is largely attributed to a range of economic challenges, most notably the highest level of car seizures in half a decade. The domestic automotive industry’s stagnation was a significant contributor to January’s MPI decline,…
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Thailand’s manufacturing sector sees slump for 16th month
Thailand’s manufacturing sector witnessed a prolonged slump for the 16th month in January, as the country’s key economic pillar grapples with dwindling domestic and overseas motor vehicle sales, according to information released by the Industry Ministry. The year-on-year decline of 2.94% in the sector fell short of the anticipated 5.1% fall predicted in a Reuters survey and followed a revised…
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