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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Middle East crisis and US inflation trigger 2% fall in Thai stocks
Escalating the Middle East conflicts and persisting high inflation in the US are contributing to a more than 2% fall in Thai stocks. The Stock Exchange of Thailand (SET) is encountering renewed selling pressure, with the index nearing a crucial resistance level of 1,400 points. Concurrently, gold prices have seen a sharp increase, reaching nearly US$1,950 (70,870 baht) per ounce…
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Thai visa extension for Russians sparks mixed industry reactions
The Thai Cabinet’s decision to extend the stay period for Russian tourists under the visa extension to 90 days, from the previous 30 days, has sparked mixed reactions. While some tourism operators fear an increase in illegal work activity, others in the south see potential for a boost in spending. The new policy, announced on Monday, aims to stimulate the…
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Thai gold prices dip: Gold Traders Association confirms morning fall
The Gold Traders Association (GTA) announced a decline in gold prices on this morning, with standard gold selling for 33,400 baht per baht weight, reflecting a decrease of 100 baht compared to the closing price last Friday. The latest value of gold bars in Thailand today, October 16, is 32,800 baht per baht weight for buying and 32,900 baht for…
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Entertainment venues: Bangkok governor paints the town ‘green’ with 4am nightlife nod
Bangkok Governor Chadchart Sittupunt has given green light approval to entertainment venues to extend their closing time to 4am, provided they implement appropriate safety measures and take into consideration the welfare of nearby residents and young people. He also insisted that clear and transparent operations are better than secretly operating past the legal hours. During a recent executive meeting at…
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Thailand land tax act assessment: Fiscal policy office’s evaluation
The Thailand 2019 Land and Building Tax Act (LBTA) is receiving a thorough evaluation for its effectiveness and potential issues in enforcement, according to the Fiscal Policy Office director-general, Pornchai Thiraveja. The investigation is a collaboration between the Finance and Interior ministries and is aimed at understanding the effectiveness of the new land tax collection system, identifying any issues and…
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Thai economy caught in global crossfire as Israel-Hamas tensions fuel price hike fears
The Thai economy, already tested by geopolitical conflicts over the past few years, is facing potential consequences from the hostilities between Israel and Hamas in the Middle East, as governments and corporations all over the world look for excuses and justifications to hike prices to obscene heights. It’s a well-worn tactic last seen in the conflict between Russia and Ukraine…
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Traveloka reports surge in Thailand travel bookings amid slow aviation recovery
Travel bookings to Thailand have seen a significant surge, according to online travel agent Traveloka. The company’s president, Caesar Indra, highlighted that despite the slow recovery of the aviation sector, Thais have predominantly utilised their platform for air ticket bookings, veering towards less frequented destinations. This trend has been mirrored across numerous Asian markets. Indra reported a fivefold increase in…
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Israeli-Hamas conflict sparks fears of disruptions in global oil prices
Price fluctuations in global crude oil have surged by 4% following the Israeli-Hamas conflict. This escalation in oil prices has sparked fears, especially among oil companies, as Montri Rawanchaikul, the Chief Executive of PTT Exploration and Production Plc (PTTEP), voiced worries that the conflict may lead to disruptions in petroleum production in the Middle East. Auttapol Rerkpiboon, CEO of PTT…
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Bank of Thailand maintains 4.4% GDP growth forecast amid stimulus measures
A 4.4% GDP growth forecast for the coming year has been maintained by the Bank of Thailand, factoring in the government’s proposed economic stimulus measures. Assistant Governor Piti Disyatat confirmed this projection following the Monetary Policy Committee’s vote on September 27 to hike the benchmark interest rate by a quarter-point, making it a decade-high 2.5%. The committee, however, reduced its…
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Thailand boosts tourism with free SIM cards and digital privileges for visitors
The Welcome Back to Thailand campaign, a collaborative endeavour by the Tourism Authority of Thailand (TAT) and Advanced Info Service (AIS), is ready to roll out. The initiative is designed to attract international tourists by offering them Amazing Thailand SIM cards, bundled with an array of digital privileges and services. As part of the campaign strategy, TAT plans to distribute…
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World Bank identifies growth potential in Thailand’s secondary cities
The World Bank has highlighted the potential for growth in Thailand’s secondary cities such as Chiang Mai, Khon Kaen and Rayong in a recent study. The report, Thailand Urban Infrastructure Finance Assessment, suggests that these cities could boost Thailand’s economy if they invest in urban infrastructure improvements, such as mass transit systems and renewable energy sources. However, the study points…
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Middle East tensions cause gold rush, prices poised to strike US$1,875
The escalating conflict in the Middle East could drive global gold prices to US$1,875 (67,950 baht) per ounce, as predicted by the Gold Traders Association (GTA). The association’s president, Jitti Tangsithpakdi, pointed out that prices have risen by US$20-30 per ounce since the onset of hostilities between Israel and Hamas militants. Gold prices reached a one-week high of US$1,860 yesterday…
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SEC considers compensation fund for victims of investment fraud
The newly appointed secretary-general of the Securities and Exchange Commission (SEC) disclosed that the regulatory body is examining the possibility of setting up a compensation fund for victims of investment fraud. This announcement was made during her inaugural press briefing since assuming office the previous month. Pornanong Budsaratragoon emphasised the regulator’s commitment to restoring public trust in the capital market.…
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Imported goods: Thailand bolsters measures to safeguard local businesses
The Thai Industry Ministry is intensifying its measures to thwart the entry of low-priced, inferior imported goods into Thailand in the forthcoming six months, to safeguard local businesses and consumers. The measure comes on the heels of a report highlighting the negative impact of such low-quality imported goods on Thai entrepreneurs across various sectors and consumers, according to Industry Minister Pimphattra…
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Thailand and Brunei forge deeper ties to boost bilateral trade
Thailand and Brunei have embraced greater bilateral cooperation, expanding into new sectors of trade and investment. The move comes as part of their collective commitment towards achieving economic integration within the ASEAN region. While on an official visit to Brunei, Thailand Prime Minister Srettha Thavisin met with His Majesty the Sultan of Brunei Darussalam, ASEAN’s most senior leader. The two…
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Mall’s well in the northeast: Central Pattana pours 3 billion baht into booming secondary cities
Central Pattana Plc (CPN), the retail and property developer and operator of Central shopping centres across Thailand, declared plans to invest 3 billion baht in the development of secondary cities within the northeastern provinces of Nakhon Phanom and Nong Khai. The aim is to enhance these cities’ potential to rival megacities. Tos Chirathivat, Central Group’s executive chairman and chief executive,…
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High-flying headache: Aviation industry faces pilot pinch, needs 650,000 in 20 years
The aviation industry is currently grappling with a global pilot shortage, with an estimated 650,000 pilots required over the next two decades, as per data from the Emirates Flight Training Academy (EFTA). The dearth of pilots is attributed to a scarcity of flight instructors worldwide, said Abdulla Al Hammadi, EFTA’S vice president. The industry is highly competitive, with airlines recruiting…
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Bubbling brilliance: Thai soft drink market fizzes with 16% growth, ending years of flat fizz
The Thai soft drink market has seen a significant upturn, with a growth rate of 16% between September last year and August this year. This surge is a stark contrast to the previous five years’ tepid single-digit growth. The resurgence of food service restaurant operations can be credited for this change. Environmental conditions such as the El Niño phenomenon, which…
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Thailand consumer confidence sails higher, defying global economic waves
Following a more stable political climate, consumer confidence in Thailand increased for the second consecutive month in September, notwithstanding global economic uncertainties. The consumer confidence index, as reported by the University of the Thai Chamber of Commerce (UTCC), rose to 58.7 in September from 56.9 in August, and 55.6 in July. UTCC President, Thanavath Phonvichai, attributed this boost in confidence…
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Kaisa Group warns of under 5% recovery rate in potential liquidation
Facing severe financial difficulties, Kaisa Group, a prominent Chinese property developer, has forewarned creditors of a less than 5% recovery rate, should the company be driven into liquidation. This was the chilling forecast laid out by a legal representative for one such creditor who is currently pursuing a lawsuit against the beleaguered company. The revelation was made in a Hong…
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Israel-Hamas conflict stirs concern in Thai business sector over trade disruption
The ongoing Israel-Hamas conflict has stirred unease within Thailand’s business sector, due to worries about its potential impact on Thai-Israeli trade, valued at around 40 billion baht. Sanan Angubolkul, chairman of the Thai Chamber of Commerce, advised Thai businesses to closely monitor the situation and manage any potential risk. Those trading with the Middle East have been particularly urged to…
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Tourist turmoil: Thailand grapples with 10,000 unexpected Israeli guests amid conflict aftermath
Thailand is currently hosting approximately 10,000 Israeli tourists, a situation that arose due to the recent Israel-Gaza conflict. The country’s Tourism and Sports Ministry is monitoring the effects of this situation on its tourism sector. Sudawan Wangsuphakijkosol, Tourism and Sports Minister stated that while numerous airlines have suspended flights between Thailand and Israel, El Al Airlines, Israel’s national airline, has…
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Inflation squeeze: Investors seek assets that outinflate rising costs
The recent surge in inflation has had a profound impact on the investment landscape, leading to an increase in product prices and living costs. These conditions require investors to strategically select assets that can generate returns that beat inflation. One such investor, Phongthorn Thavontanakul, founder and CEO of Lief Capital Asset Management, shared his insights on investments that can weather…
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Thai bonds surge 5.8% amid elevated corporate debenture issuance
Thai bond valuations experienced a notable increase of 5.8% within the first nine months of the year, skyrocketing to a colossal 16.7 trillion baht. This rise was predominantly propelled by government and corporate bonds, as revealed by the Thai Bond Market Association (ThaiBMA). Corporate debentures, a significant part of this upswing, saw an issuance of 825 billion baht from January…
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Thailand’s commerce ministry aims for 20% cross-border trade boost
The Commerce Ministry of Thailand has an ambitious vision for the upcoming year – pushing cross-border trade value to 1.2 trillion baht, marking a 20% increase from this year’s estimated 1 trillion baht. Deputy Commerce Minister Napintorn Srisunpang, the overseer of the Business Development Department, Trade Negotiations Department and Foreign Trade Department, disclosed the ministry’s strategy to achieve this. They…
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Thai government’s 5% GDP growth aim deemed optimistic amidst challenges
The administration of Prime Minister Srettha Thavisin aims to boost annual GDP growth by 5%. This goal was unveiled during a policy statement delivered by the premier to the heads of government agencies last week during discussions about the fiscal 2024 budget. However, the World Bank recently cut its growth forecast for Thailand to 3.4% this year and trimmed its…
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AI adoption boom: Igniting innovation, doubling productivity, and fostering cross-gen cooperation
The revolution of Artificial Intelligence (AI) in businesses is underway, igniting innovation, boosting productivity by twofold, and fostering cross-generational cooperation. Currently, the United States alone hosts over 14,700 AI startups, with more sprouting daily, according to McKinsey. Forecasts suggest that AI adoption and digitisation will automate between 30% and 40% of existing jobs, augment 50 to 60% of job tasks,…
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Thai CEOs discuss sustainability’s key role in supply chain survival at SX2023
The Sustainability Expo 2023 (SX2023) has illuminated the essential role of sustainability in successful supply chain networks. The Thailand Supply Chain Network (TSCN) Business Partners Conference, also known as the TSCN CEO Panel, took place at the Queen Sirikit National Convention Center as part of the ongoing expo. The key topic of discussion was the self-application of sustainable practices for…
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UHG announces 3.1 billion baht investment in new Thai hotel developments
UHG, a prominent developer of hotels and offices, has announced plans to invest 3.1 billion baht in the construction of two new hotels in Ramkhamhaeng and Phaya Thai. The investment supports UHG’s strategy to capitalise on the potential of these areas and cater to the high demand experienced by its nearby hotels. Wutthiphon Taworntawat, the managing director, highlighted the strategic…
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AstraZeneca and Thai agencies collaborate to boost AI in healthcare
The Digital Economy and Society (DES) Ministry and the Digital Economy Promotion Agency (Depa) have joined forces with AstraZeneca (Thailand), a biopharmaceutical company, to boost digital healthcare innovation within the Thai public health system. Their goal is to enhance the quality of life for Thai citizens through the use of cutting-edge technology. The most recent collaboration involves a memorandum of…
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