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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Top 5 social media marketing companies in Thailand
As a business owner, you probably already know that social media has become an essential tool to reach new customers. According to the 2023 Social Media Marketing Industry Report, the majority of marketers reported positive outcomes from their social media...
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Krungsri’s card charge: Loan surge despite economic strain
The unsecured loan arm of Bank of Ayudhya, Krungsri Consumer, is predicting a spike in credit card loans in the second half of the year, despite the economy limping along and new rules raising the minimum payments. Currently, Krungsri’s non-performing loan (NPL) rate is a lowly 1.4%, far better than the industry average of 2.9%. Atis Ruchirawat, head honcho at…
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Thaksin’s taxing plan to tackle poverty in Thailand
Thaksin Shinawatra is making more waves to shake up Thailand’s social, economic and political scene. His latest pitch? A negative income tax (NIT) to shake up Thailand’s tax system. This isn’t the first time NIT has been floated in Thailand. Over a decade ago, the Finance Ministry’s Fiscal Policy Office (FPO) proposed something similar, and it was included in the…
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Thailand’s trade deficit with China rises 15.7% to US$20 billion
Thailand’s Trade Policy and Strategy Office (TPSO) raised alarms about the expanding trade deficit with China. Imports from China surged by 7.12% year-on-year in the first half of 2024, reaching US$37.6 billion (approximately 1.33 trillion baht). This spike resulted in a trade deficit of US$20 billion (around 720 billion baht), marking a 15.7% increase compared to the previous year. Smartphones,…
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SET unveils sustainable growth strategies amid global challenges
The Stock Exchange of Thailand (SET) has unveiled three core strategies to foster sustainable growth within the Thai capital market amid challenging global financial conditions and political uncertainties. This initiative aims to enhance inclusivity within the market. SET chairman Kitipong Urapeepatanapong, addressing the Thailand Focus 2024: Adapting to a Changing World seminar, highlighted the strategic pillars: bolstering reliability and trust,…
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Kenyan envoy urges stronger Thai-African trade and academic ties
Thailand and African nations should enhance bilateral trade, investment, and academic exchanges to foster stronger ties and expand business prospects, according to Kenyan ambassador to Thailand, Kiptiness Lindsay Kimwole. Speaking at a press conference yesterday, August 28, Kimwole, who also serves as the dean of the African Ambassadors’ Group, advocated for increased Thai investment in Africa. His comments were made…
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Calls to extend digital TV licences beyond 2029 to support industry
The Association of Digital Television Broadcasting (ADTEB) called on the National Broadcasting and Telecommunications Commission (NBTC) to extend existing digital TV licenses beyond their 2029 expiry to navigate the evolving challenges in the local digital TV market. The association further urged the NBTC to reconsider its plan to auction the 3500-3800 megahertz spectrum for telecom services, highlighting that this frequency…
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Thai central bank may cut rates if digital wallet delayed
The Bank of Thailand might be compelled to reduce the policy rate earlier than anticipated if the new government opts to postpone the digital wallet policy slated for the fourth quarter. Analysts warn this delay could significantly impact the Thai economy. Despite the central bank’s Monetary Policy Committee (MPC) maintaining the rate at 2.5% last week, BofA Securities highlighted that…
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Export-tional growth: July’s 15.2% surge is highest in 28 months
Exports in July surged by 15.2%, marking the highest growth rate in 28 months, attributed to easing inflation and increased purchasing power among trading partners. Poonpong Naiyanapakorn, the Director-General of the Trade Policy and Strategy Office (TPSO), reported that July’s exports rose by 15.2% to US$25.7 billion (938 billion baht), primarily driven by the cooling global inflation, which considerably enhanced…
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Most Thai listed companies report Q2 this year profits
Thailand’s stock exchange disclosed that 819 out of 856 listed companies have submitted their second-quarter financial results for this year, with 631 reporting net profits. This represents a significant 77.05% of the companies that submitted financial statements. The Stock Exchange of Thailand (SET) has seen continuous growth in the second quarter of this year. Sales for listed companies in the…
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Thailand boosts HDD production with 23.5 billion baht investment
Thailand’s Board of Investment (BOI) approved a significant investment project by Western Digital Storage Technologies (Thailand) Co., Ltd., to expand its hard disk drive (HDD) and related equipment production. The project, valued at 23.516 billion baht, will take place in Bang Pa-in Industrial Estate, Phra Nakhon Si Ayutthaya province and 304 Industrial Park, Prachin Buri province. The Secretary-General of the…
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Thailand’s household debt growth slows amid stricter loan criteria
Household debt growth in Thailand decelerated in the first quarter of this year, partly due to stricter loan criteria imposed by financial institutions, the National Economic and Social Development Council (NESDC) announced. The NESDC Secretary-General, Danucha Pichayanan, reported that household debt reached 16.3 trillion baht in the first quarter of 2024, marking a 2.5% increase, which is a slowdown from…
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Thailand’s new anti-smoking rule burns Thai vendors’ profits
Thailand is stepping up its fight against smoking with a hard-hitting new regulation that could hit vendors where it hurts—right in the wallet. Starting last Wednesday, August 21, retail sellers of cigarettes and tobacco are now required to display posters warning of the severe dangers of smoking, or they could be slapped with a fine of up to 5,000 baht.…
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Thai regulators intensify fight against illegal securities trading
Stock market regulators intensified their collaboration with the Anti-Money Laundering Office (AMLO) to combat illegal securities trading, aiming to dismantle criminal economic activities and boost investor confidence in the Thai capital market. A memorandum of understanding (MoU) signed yesterday, August 26, between the Securities and Exchange Commission (SEC) and the Stock Exchange of Thailand (SET) marks a significant step towards…
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Tourism leaders urge government action post-Thai floods
Regional tourism operators are urging the Government of Thailand to develop a comprehensive long-term strategy to manage floods and storms, following recent natural disasters in northern provinces and a deadly landslide in Phuket. Phuket Tourist Association President Thaneth Tantipiriyakij highlighted the urgency of the situation after heavy rains and a landslide in Phuket resulted in the deaths of 13 people,…
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Western Digital to invest 23 billion baht in Thai expansion
Western Digital Storage Technologies (Thailand) received investment incentives from the Board of Investment (BOI) for a 23-billion-baht expansion aimed at capitalising on the burgeoning cloud and data centre industry. Western Digital, commonly known as WD, will utilise the new investment to enhance its production facilities located at Bang Pa-in Industrial Estate in Ayutthaya and the 304 Industrial Park in Prachin…
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Thailand bids for 2030 Youth Olympics to boost sports industry
Two weeks after the Games of the XXXIII Olympiad concluded, Thailand is reiterating its commitment to bidding for the 2030 Youth Olympic Games, viewing it as a pivotal opportunity to advance its sports industry and generate revenue. The Governor of the Sports Authority of Thailand (SAT), Kongsak Yodmanee, stated that one of SAT’s missions is to promote sports within Thailand…
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Calls for action on Chinese investments in Thailand
The new Government of Thailand is facing calls to swiftly address the growing perception that Chinese products and investments pose a threat to Thai interests. This sentiment, if left unchecked, could harm Thailand’s export and tourism sectors. President of the Panyapiwat Institute of Management and an expert on the Chinese and US economies, Sompop Manarungsan, emphasised the need for cooperation…
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Thailand gamble: Locals to roll the dice on new casino complex
Thailand’s proposed entertainment complex project, which includes a casino, is set to draw primarily Thai gamblers, with up to 90% of customers expected to be locals, as per the Finance Ministry. Public hearings are currently being held for the draft law related to the entertainment complex, in accordance with constitutional requirements. A special House committee, led by caretaker Deputy Finance…
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Thai bus firms under siege as Chinese rivals drive them up the wall
The Thai bus industry is under siege with Chinese bus operators flooding the market with cut-rate prices and dodgy tactics, leaving Thai companies struggling to keep up. The Thai Transportation Operators Association has sounded the alarm on this cut-throat competition. Wasuchet Sophonsathien, the association’s president, laid bare the ongoing crisis. Illegal foreign bus operators are muscling in on the market,…
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Food Republic to close last Thai branch on November 22
Food Republic’s final branch in Thailand, located at Central Plaza Grand Rama IX, will close its doors on November 22. The company expressed gratitude to its loyal customers in a Facebook post, marking the end of an era for the popular food court chain. Food Republic has been a well-known name in the food court industry, originally hailing from Singapore.…
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Thailand opens first semiconductor R&D centre
King Mongkut’s Institute of Technology Ladkrabang (KMITL) has inaugurated Thailand’s first comprehensive semiconductor technology research and development centre, setting the stage for the nation’s enhanced role in the global supply chain. The KMITL Academy of Innovative Semiconductor Manufacturing (KAISEM) will function as a central laboratory, uniting experts from diverse fields to collaborate on semiconductor research, innovation, and electronic manufacturing processes.…
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19 firms request SEC approval for investment tokens
Nineteen companies, primarily in real estate and software, notified the Securities and Exchange Commission (SEC) of their intent to secure funding through investment tokens as per the Digital Asset Act. The Deputy Secretary-General of the SEC, Jomkwan Kongsakul, confirmed that these 19 firms are currently in pre-consultation with the commission to explore fundraising via investment tokens. Three companies have already…
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Thailand unveils National Cyber Academy to enhance cybersecurity
The National Cyber Security Agency (NCSA) has introduced the Thailand National Cyber Academy in a bid to enhance cybersecurity literacy across the nation. Caretaker Digital Economy and Society Minister Prasert Jantararuangtong emphasised that the academy will significantly contribute to the development of IT professionals at all age levels, thereby bolstering national cybersecurity. This initiative is part of the second phase…
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EV battery boom: Can AI help Thailand drive to the top?
Thailand is revving up for a major geopolitical boost by focusing on electric vehicle (EV) batteries and auto components, including integrated circuit packaging and testing. According to Taiwan’s Profet AI, the key to speeding up product delivery, slashing costs, and raising standards lies in adopting cutting-edge artificial intelligence (AI) amid ongoing economic headwinds. Jerry Huang, co-founder and CEO of Profet…
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Gold prices hit record US$2,531 amid interest rate cut speculation
Gold prices continue their upward trajectory, reaching a new record high of US$2,531 per ounce yesterday. Investors are closely monitoring signals from the Federal Reserve regarding potential interest rate cuts at its September meeting. Gold brokers attribute the increase to the asset’s status as a safe haven amid ongoing tensions in the Middle East and the Russia-Ukraine conflict. Tanarat Pasawongse,…
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Canada-ASEAN free trade agreement expected by next year
A free trade agreement (FTA) between Canada and the Association of Southeast Asian Nations (ASEAN) is anticipated to be finalised by next year, according to officials from Canada and Thailand involved in the discussions. Surin Thanalertkul, the Canadian embassy trade commissioner, along with Martin Sullivan, senior market development officer of the Canada Indo-Pacific Agriculture and Agri-Food Office (IPAAO), discussed the…
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Thai Airways soars to new heights with RateGain partnership
Thai Airways (THAI) is set to revolutionise its pricing strategies with a multi-year partnership with RateGain Travel Technologies, leveraging its cutting-edge platform, AirGain. This collaboration marks a significant move for the national flag carrier of Thailand as it aims to maintain its competitive edge in the global aviation market. Operating out of its central hub at Suvarnabhumi Airport in Bangkok,…
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Thailand to hold policy rate at 2.5% amid economic uncertainties
The Bank of Thailand (BoT) is poised to maintain the policy rate at a decade-high level of 2.5% during its meeting tomorrow, although analysts anticipate a greater probability of a rate cut later this year due to increasing economic challenges. Kasikorn Research Centre (K-Research), the research arm of Kasikornbank (KBank), concurs with equity analysts that the central bank’s Monetary Policy…
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Digital wallet scheme may switch to cash to boost economy
The Budget Bureau chief confirmed that funds from the digital wallet scheme could be distributed as cash, provided the original goal to stimulate the economy is maintained. Chalermphol Pensoot stated that the distribution of 10,000 baht through the digital wallet scheme could continue, depending on the new government’s policies. “Distributing cash instead of digital money is not an issue, as…
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B.Grimm Power play: Profits surge with plans to expand in future
Multinational conglomerate B.Grimm Power Plc (BGRIM) reported a robust performance with a significant increase in normalised net profit for the first half of this year, alongside ambitious plans to enhance investment partnerships and expand its renewable energy portfolio. BGRIM President Harald Link highlighted that the normalised net profit attributable to the parent company rose by 2.3% year-on-year, reaching 1.09 billion…
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