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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Thailand’s billionaire trio makes Forbes’ 2023 list of world’s richest
Forbes yesterday released its annual list of the world’s billionaires, and Thailand has its hands in the till with 28 billionaires, three of whom are ranked in the top 150. The list includes Dhanin Chearavanont, Charoen Sirivadhanabhakdi, and Sarath Ratanavadi, whose net worths range from US$12.3 billion to US$14.9 billion. Despite this achievement, the year 2023 proved challenging for the…
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Shake Shack opens for business in Thailand
World-famous New York burger joint Shake Shack opened its flagship Thailand store at CentralWorld in Bangkok at 10.30am today. The first 500 customers at the store this morning were given handcrafted bamboo Shake Shack fans woven by a community enterprise in Ayutthaya, ready for the summer season. The restaurant’s menu offers American classics like burgers, hot dogs, chicken, fries and also…
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Huneety releases solution for talent shortage
Press Release Huneety is a regional HRtech startup headquartered in Bangkok and founded by 2 French entrepreneurs, Simon Carvi, Co-Founder & CEO and Vianney d’Hostel, Co-Founder & COO. Huneety is the combination of “H” for Humans and the word “Unity”. Huneety was born in late 2021 from the acute talent shortage in Southeast Asia, a phenomenon that is expected to…
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Thailand’s leading Fintech “DeeMoney” unveils new strategy “Owndee” with better rates, faster, and easier transfers
DeeMoney is Thailand’s No 1 money transfer service licensed by BoT DeeMoney aims to be NeoBank offering comprehensive cross-border payment and money transfer services on digital platforms that best address target customers’ demand In 2022, DeeMoney emerged as a dominant fintech player in the non-bank money transfer sector, with overall transactions exceeding 3 million transactions with a volume over 50…
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Prime office location for rent in the heart of Bangkok’s thriving Bang Kapi area
Looking for a strategic prime office location to establish your business in Bangkok? Look no further than the SINGHA COMPLEX project in the bustling Bang Kapi area. The recently completed office space on the 18th floor of the tower is now available for long-term rent. The indoor area of the office measures 783 square metres and it is currently unfurnished.…
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Thailand’s top 10 most expensive condos
Thailand is home to 15 condominium projects selling condo units for more than 50 million baht each, according to the Agency for Real Estate Affairs (AREA). Matichon reports that the President of AREA’s Thai Real Estate Research and Valuation Information Centre, Sophon Pornchokchai, revealed on Tuesday that the most expensive condominium unit in Thailand is worth a whopping 887.2 million…
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Thailand woos crypto companies with tax waiver
Thailand‘s Cabinet approved a tax waiver for cryptocurrency firms yesterday. The Cabinet decided that companies raising funds by issuing digital tokens for investment are exempt from paying corporate income tax and value-added tax (VAT), according to a government spokesperson. Once the new tax waiver is implemented, crypto companies can issue investment tokens in Thailand without any tax on primary or secondary…
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Selfridges’ Thai owners take on 70 billion baht debt
Central Group, Selfridges’ Thai owners along with Austrian enterprise Signa Holdings, have taken on another £1.7 billion (US$ 2 billion, 70 billion baht) of debt in a strategy to increase investment returns. The London branch of Bangkok Bank provided the loan, secured against the lease on the retailer’s London flagship store. Selfridges said the loan would “release capital” for the…
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Thai Airways to merge with Thai Smile to ‘reduce losses’
Thai Airways is to merge with Thai Smile to “reduce losses.” The plan is expected to be approved by the end of this year. Piyasvasti Amranand, chairman of THAI’s committee overseeing the airline’s rehabilitation, said the restructuring had been on the cards for a while and had always been part of the plan. “A study about the merger plan is…
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Thai Airways Q4 loss narrows
Thai Airways Q4 profit almost tripled as tourists started to return to the holiday kingdom. The carrier’s net income for the three months ending December 31 rose to 11.2 billion baht (US$300 million) from 4 billion baht a year earlier, chief executive officer Chai Eamsiri said on Friday. Thai Airways Q4 profit to support strong growth in 2023 Operating income…
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Malware and ransomware biggest threat to Thai businesses
Malware and ransomware continue to be just as much of a threat to businesses this year as last, according to a cybersecurity firm FortiGuard Labs. The global cyber threat study and research team, found malware and ransomware with sophisticated attack patterns and delivery remain the main threats to Thai organisations. Vulnerability will increase During the fourth quarter of 2022, FortiGuard…
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Foreigners invest 5 billion baht in Thailand in January 2023
In the first month of 2023, foreign investment in Thailand amounted to 5.129 billion baht, the biggest investors being the Japanese, investing 3.588 billion baht. Foreign investment is expected to reach 100 billion baht by the end of the year. Today, Deputy Minister of Commerce Sinit Lertkrai revealed 52 cases of foreign investment in January under the Foreign Business Act…
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Taxes up, bribes down – Palang Pracharath Party wants venues to operate legally
The ruling Palang Pracharath Party’s Chaiwut Thanakamanusorn wants to make it easier for entertainment venues to operate legally. The Minister for the Digital Economy would like to see bars and clubs operate within the tax system, bringing in fiscal revenue and administration fees while reducing the scope for bribery. Chaiwut said on Sunday that Palang Pracharath members had agreed that…
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Small hotels recover in Thailand as foreigners move downmarket
As small hotels recover in Thailand, returning tourists are choosing different options from pre-pandemic staples. A study of small hotels and hostels found booking growth is now higher than before the pandemic, with bookings from overseas tourists exceeding those of local travellers. As small hotels recover in Thailand, bookings are up by a quarter from the pre-Covid levels, according to…
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Thai Airways rehabilitation ahead of schedule
Thai Airways expects to exit its rehabilitation plan ahead of schedule. The airline is already looking for new aircraft as the recovery in global tourism bolsters earnings. CEO Chai Eamsiri said Thursday that the carrier will be able to leave its court-supervised debt plan “much earlier” than the late-2024 target, according to Bloomberg. The company is also in talks with…
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New law allows foreign talent to thrive in Thailand
The government of Thailand has taken a huge step forward in attracting highly skilled foreign workers to the country, with the release of a new law that allows foreigners to work or invest in 18 select industries. The Royal Thai Gazette website published a notice from the Ministry of Interior outlining the special permit for migrant workers, signed by Prime…
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Custodied cryptocurrencies to see new regulations in Thailand
Custodied cryptocurrencies will see new regulations in Thailand. The Securities and Exchange Commission of Thailand issued new measures which require companies offering crypto custody services to “establish a digital wallet management system to accommodate efficient custody of digital assets and keys and ensure the safety of clients’ assets.” The new regulations went into effect on January 16th. The new measures…
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Central Fraud Registry, coming soon to clean up Thai banking
Thailand‘s forthcoming Central Fraud Registry will be a new investigative authority, working alongside the Computer Emergency Response Team, a group of financial institutions focused on cybercrime in the banking industry. The new fraud registry will concentrate on financial fraud in the industry. Thai Banking Association (TBA) chairman Payong Srivanich did not set a time frame for setting up the registry.…
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PM Prayut proud of Thailand’s pineapples
Prime Minister Prayut Chan-o-cha‘s face lit up with joy when he heard that Thailand is the biggest exporter of canned pineapple in the world, according to government spokesperson Anucha Burapachaisri. PM Prayut was “delighted” when the Agriculture Ministry informed him that Thailand holds a 32% share in the global canned pineapple market – the biggest in the world – valued…
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Top 5 foreign nationalities buying condos in Thailand in 2022
Chinese nationals bought the most condos out of any foreign nationality in Thailand this year despite the difficulties posed by Beijing’s strict Covid-19 restrictions, which are finally easing up after three years. In Thailand, foreigners are permitted to own 49% of the units in any condominium building. The remaining 51% must have Thai ownership. Although fewer Chinese bought condos in…
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Yell BKK launched ONETOUCH’s special edition package, ‘Amulet of Protection’
Press Release Thailand ranks 2nd in teen pregnancy among other ASEAN countries, and this doesn’t include STDs. ONETOUCH, a Thai condom brand, wants to take part in minimizing the problems by helping recap how to use condoms correctly in an unforgettable way. Beliefs, amulets, wish-washes, and Thai people are inseparable with no gender or age in between. That’s why there…
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An insight into trading stocks in Thailand
Thailand’s growing economy means that promising companies can mushroom over the years. In the next three years, it is expected to grow by around 5% annually. The question for investors however is, if they can trade stocks in the country, to profit from its growth. And the answer is, yes, they can. The Stock Exchange of Thailand, also known as…
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Tesla to launch in Thailand this month
Elon Musk’s Tesla Motors aims to launch in Thailand this month after a period of recruiting in the kingdom. The company will sell electric vehicles (EVs) in Thailand. Tesla registered as a company in Thailand in May this year with an initial registered capital of 3 million baht. The company is releasing two cars initially, the Model 3 and Model…
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Thai Airways considers reviving stored A380s to meet rising demand
Thailand’s flag carrier Thai Airways International is considering expanding its fleet by reviving two Airbus A380 aircraft stored away for years to meet the rising demand for flights. The airline is “studying closely” the cost-effectiveness of restoring the planes and has not yet committed to a decision, says Airline Commercial Chief Korakot Chatasingha. “As you know, to bring them…and return…
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Thailand pulls the plug on foreign land ownership regulation
The Thai government has already pulled the plug on the draft ministerial regulation that would open up new foreign land ownership options in Thailand. The regulation proposed allowing foreigners who hold a 10-year Long Term Resident visa to buy a property and/or land of up to one rai in Thailand, given they invest a minimum of 40 million baht into Thailand…
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Marketing in Thailand as a Foreigner: Volume #2.2 Ad Campaign Crossroad: Global Materials vs. The New Investment
Sometimes, It’s Okay to Wear Socks and Sandals Foreign marketers sometimes need to be bold enough to wear socks and sandals in a tropical country like Thailand to stand out. If you wonder why: READ HERE. I have no space for rewriting all this; otherwise, you would think this article is too long, but it is already long enough that…
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Rich rewards offered for info on currency counterfeiters
With large numbers of fake banknotes now circulating in Thailand, especially in the north of the country, the Digital Economy and Society Ministry Saturday announced a counterfeit rewards system for those canny enough to spot the fakes and turn them in. If you come up with information on counterfeit banknotes, you can expect to be rewarded with up to 100,000…
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Thai transgender entrepreneur buys Miss Universe Organisation for US$20 million
A Thai celebrity, businesswoman, trans rights activist, and beauty queen bought the Miss Universe Organisation for US$20 million yesterday. Jakapong “Anne” Jakrajutatip is the first woman to own the company – formerly owned by Donald Trump – in its 71 year history. Anne is a transgender woman famous in Thailand for starring in Project Runway and Shark Tank. She is…
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It’s in the jeans – Iconic pants mined from rich seam of racism
When a pair of filthy old Levi’s blue jeans dating back to the 1880s was found in an abandoned mine in the former Wild West by self-described “denim archaeologist” Michael Harris, he knew immediately they were something special. The vintage pants were sold at Durango Vintage Festivus, a four-day celebration of denim on the outskirts of Aztec, N.M. for $87,400…
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The impact of leisure activities on the Thai Economy
The always boisterous and immensely beautiful country of Thailand has always provided tourists with a plethora of incredible activities and events to embark on. Given that an increased amount of tourist-related activity still fully resides in Thailand’s most populated destinations, it is important to note the wider impact that the leisure industry has brought to the country’s economic stance and…
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