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...
-
Pressure mounts on Bank of Thailand to reduce high interest rates
Thailand Deputy Finance Minister Julapun Amornvivat expressed concern that the country’s current interest rates are excessively high, putting strain on citizens’ disposable income and stunting the nation’s economic growth. This stance encourages the Bank of Thailand to reconsider its monetary policies. “The Thai people’s spending power is in jeopardy due to these high rates. I hope the Bank of Thailand…
-
DeeMoney’s ‘PIN TO SUCCESS’: a roadmap to greater success
“To operate a successful business, you need to have the right products and services and know how to apply innovations to better serve the market and heighten your success. More importantly, be flexible and always ready to adjust your plans in line with your goals.” – Aswin Phlaphongphanich, CEO and Co-Founder, DeeMoney. DeeMoney is a leading Thai fintech company specialising…
-
Elon Musk warns Chinese automakers set to drive global rivals off the road
Tesla CEO Elon Musk issued a stark warning, predicting that Chinese automakers will demolish global competition if trade barriers are not enforced. This statement highlights the intense pressure the leading American electric vehicle (EV) company faces from Chinese rivals such as Build Your Dreams (BYD), which are rapidly expanding their global presence. Musk’s warning follows recent developments where BYD, supported…
-
Thailand’s retail sector expects double-digit growth driven by private consumption and online retail
Anticipating a robust year ahead, Thailand’s retail sector is poised for a double-digit expansion. The growth is primarily spurred by a surge in private consumption and the government’s stimulus measures, such as the Easy E-Receipt tax refund scheme and a boom in online retail. However, the rising cost of living is a cause for concern, as stated by the Economic…
-
Rising Red Sea tensions to spike freight rates warns EconThai
Global supply chains are bracing for further potential disruptions, as rising tensions in the Red Sea are projected to escalate freight rates in February, according to the Employers’ Confederation of Thai Trade and Industry (EconThai). The organisation has already noted an increase in freight rates by 1.89 to 2.42 times, a trend expected to persist should the tensions continue. Tanit…
-
Thailand’s new green utility tariff boosts renewable energy use
The unveiling of a Green Utility Tariff (GUT) next month is set to bring about a significant progression in renewable energy use within Thailand, bolstering local businesses and attracting foreign investment. This move has been eagerly awaited by numerous companies considering expansion into Thailand, as they seek not only the necessary infrastructure but also a source of clean energy to…
-
Bangkok gears up for eighth round of FTA talks with EFTA
Bangkok is preparing to host the eighth round of free trade agreement (FTA) discussions with the European Free Trade Association (EFTA), scheduled to take place from January 30 to February 2. The Thai government aims to wrap up the negotiations by the middle of this year. Chotima Lemsawasdikul, the director-general of the Trade Negotiations Department, has confirmed that the discussions will…
-
Thailand aims to be among top five Asian tech ecosystems
Aspiring to rank among Asia’s top five tech ecosystems within the next decade, Thailand is currently focusing on the development of smart industries, particularly in tourism, healthcare, agriculture, and manufacturing, according to a statement by a corporate innovation accelerator. Dr Kid Parchariyanon, CEO and co-founder of RISE, the accelerator, insisted that the adoption of artificial intelligence (AI), along with nurturing…
-
Thai government insists on land bridge project amidst criticism, seeks international investors
Despite facing criticism, the Thai government remains determined to proceed with its Land Bridge project, inviting foreign investors and prioritising environmental implications, especially in headwater regions. Government spokesperson Chai Wacharonke, addressing a mobile Cabinet meeting in Ranong, confirmed the government’s intent to engage foreign investors post the project’s promotion by Prime Minister Srettha Thavisin at three international events. These included…
-
JKN Global sells 50% Miss Universe stake to Legacy Holding for US$16m
In a bid to deal with its ongoing financial struggles, JKN Global Group Plc, a renowned local media company, has decided to offload a 50% stake in its Miss Universe business. The stake, valued at US$16 million (570 million baht), will be purchased by Legacy Holding Group USA Inc. The group, which is under the control of Mexican businessman Raul…
-
Thailand’s minister calls for industrial sector transformation
Thailand Industry Minister Pimpatra Vichayakul likened the nation’s industrial sector to a sleeping tiger ready to awaken and roar, emphasising the need for a transformation towards S-Curve industries. This declaration came during the Thailand 2024: The Great Challenges seminar held yesterday, January 23, at the Pullman King Power Hotel in Bangkok. Pimpatra highlighted the government’s role in supporting local and…
-
Southeast Asia capitalises on China’s Australian lobster ban
The protracted ban on Australian rock lobsters by Beijing has prompted Southeast Asian countries to capitalise on the opportunity, increasing their seafood exports to China. As the ban continues, the shift in sourcing may become irreversible, experts predict. New Zealand currently dominates the Chinese market for rock lobsters, holding nearly 40% of the total market share, based on data from…
-
Chememan signs Khimsar agreement to become major lime producer in India
Chememan Public Company Limited (CMAN), a leading lime producer, inked the Khimsar Agreement with Khimsar Mine Corporation (KMC), marking its initiative to set up a state-of-the-art lime factory in Khimsar, Rajasthan, India. This endeavour positions CMAN on the path of becoming a significant lime producer in India. The agreement was signed with KMC, a fresh entrant in the Indian mining…
-
Thachang Green Energy projects major expansion by 2026 with new power plants
Thachang Green Energy (TGE), an operator and developer of biomass power plants listed on the Stock Exchange of Thailand (SET), projects a significant business expansion between 2025 and 2026. This growth is attributed to the additional power generation capacity from imminent power plant projects. While no capacity increment is planned for this year, TGE predicts a revenue surge of over…
-
SEC considers banning NVDR securities for Thai investors
With plans to limit Thai investors from making investments in non-voting depository receipts (NVDRs), the Securities and Exchange Commission (SEC) is setting up a public hearing to enforce a ban on securities companies offering such services. Citing concerns over NVDR securities as a mechanism to sidestep compliance with regulations or as a means to obscure shareholding data, the SEC believes…
-
Thailand’s tasty revival: Spending spree at food shows signals economic upswing for MICE sector
A surge in spending at food and packaging trade shows indicates a revival in the economy and a favourable trend for business tourism this year. Thailand remains a favoured location for the meetings, incentives, conventions and exhibitions (MICE) sector, according to Informa Markets Thailand, a leading trade show organiser. Kotchasorn Tocharoentanapol, the Deputy Event Director at Informa Markets Thailand, noted…
-
Mobile Cabinet allocates 552 million baht for Andaman Coast development
A total of 552 million baht (US$15 million) has been allocated by the mobile Cabinet towards the development of 18 new projects across six southern provinces on the Andaman Coast. Prime Minister Srettha Thavisin announced yesterday, January 23, after a Cabinet meeting in Ranong. The projects, proposed by the Joint Public and Private Sector Consultative Committee responsible for the southern…
-
Thailand’s media spending to see 4% growth driven by online and TV
Anticipating a 4% growth in media spending this year, mirroring the trend from 2023, the market is set to be driven by online, TV, and out-of-home media. This predicted growth is attributed to political stability and economic stimulus initiatives introduced by the government. The burgeoning e-commerce platform landscape has catapulted affiliate marketing into a key media tool for brands. This…
-
Franklin Templeton eyeing expansion into Thailand’s offshore market
Franklin Templeton, an American multinational holding company with a portfolio worth US$1.5 trillion, is contemplating an expansion into Thailand to tap into the local market for offshore products. The Asia-Pacific head, Tariq Ahmad, revealed this in an interview in Hong Kong, however, he did not specify a timeline for the expansion. The firm is also planning to bolster its alternative…
-
Thailand’s economic growth falls short of projections amid potential crisis
The pace of Thailand’s economic recovery slackened last year, falling short of the official predictions, as disclosed by government spokesperson Chai Wacharonke. This could increase the likelihood of the central bank considering an early easing strategy. Chai revealed today, January 23, that the Thai economy only expanded by 1.8% last year, a drop from the 2.6% growth experienced in 2022.…
-
SET-listed banks’ net profit surges 15.6% due to rate hikes
Interest income growth due to policy rate hikes has contributed to a 15.6% year-on-year increase in consolidated net profit for ten Stock Exchange of Thailand (SET) -listed commercial banks in 2023, reaching a total of 232 billion baht. The previous year’s profit was around 201 billion baht. In the context of these rising interest rates, the banking sector demonstrated a…
-
SET anticipates Oliver Wyman’s report on Thailand’s securities trading
The Stock Exchange of Thailand (SET) anticipates an imminent report from international consultant Oliver Wyman. The report, expected to be completed in the first week of February, focuses on the suitability of Thailand’s securities trading programs and the prevention of naked short selling. This initiative, led by SET President Pakorn Peetathawatchai, follows investigations into four alleged instances of naked short…
-
Thai SMEs threatened by proposed minimum wage hike and high loan rates
The Federation of Thai Industries (FTI) warned that small and medium-sized enterprises (SMEs) could be significantly affected by the proposed daily minimum wage hike and high loan interest rates. This comes as the government persists in its efforts to increase wages. Towards the end of 2023, a resolution was reached by the tripartite wage committee, composed of representatives from the…
-
US-China tensions fuel e-commerce growth in Thailand
The mounting geopolitical tension between the US and China is precipitating an influx of new e-commerce entities into Thailand, a development set to escalate market rivalry and broaden the scope of the cross-border e-commerce industry. Thanawat Malabuppha, the CEO of Priceza and honorary president of the Thailand E-Commerce Association, asserts that the escalating US-China geopolitical strife has triggered an expansion…
-
Changan Automobile targets selling 20,000 EVs in Thailand this year
With positive optimism about the electric vehicle (EV) market in Thailand, Changan Automobile, a renowned manufacturer based in Chongqing, China, has set an ambitious plan. The company aims to sell 20,000 EVs in Thailand within this year and has designated the nation as its strategic export hub. Shen Xinghua, who chairs Changan Auto Sales (Thailand), revealed that the Thai government’s…
-
SEC enhances high-yield bond oversight amid Thai market instabilities
The Securities and Exchange Commission (SEC) is enhancing oversight measures for high-yield bonds to fortify payment protections and investor assurance, according to remarks made by SEC Secretary-General Pornanong Budsaratragoon. This move comes in response to recent market instabilities caused by numerous defaults and a significant accounting scandal in the speculative debt sector. As part of this heightened vigilance, the SEC…
-
Pandemic sparks faith tourism pilgrimage as seekers find peace in Thailand’s temples
Following the pandemic, a rise in faith tourism as a search for peace and tranquillity has been observed. Temples and sacred spots across Thailand have seen an increase in visitors, and the donation boxes are filling rapidly. Future Markets Insight reported that worldwide, faith-based tourism was worth US$13.7 billion in 2022 and is expected to reach US$40.9 billion in 2033.…
-
Global economy to grow in 2024, Thai leaders face new challenges
The global economy is projected to grow in 2024, according to forecasts by leading business groups and the World Bank. However, Thai leaders are expected to navigate new challenges such as bridging generational gaps in conversations and encouraging younger workers to mentor older employees on new technologies. Meanwhile, the stress levels among all employees are at an all-time high, triggering…
-
Thai tourism sector optimistic about Chinese arrivals despite economic concerns
Despite the Thai tourism sector experiencing a drop in Chinese visitors last year, the government remains optimistic about an increase in arrivals this year, targeting eight million visitors from the mainland. This optimism is fuelled by the prospect of the visa-free policy becoming permanent in March. The Chinese government has been advocating for its citizens to travel domestically during the…
-
Chinese new year holiday expected to boost Thailand’s tourism revenue
Anticipated to reach a staggering 34.4 billion baht, spending during the Chinese New Year holiday is set to surge, with foreign travellers, primarily from Chinese-speaking nations, contributing 28.4 billion baht. The Tourism Authority of Thailand (TAT) attributes this 29% year-on-year revenue growth, which spans from February 8 to 16, to the visa-free policy for Chinese and Taiwanese tourists. TAT Governor…
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.