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
9 most common health issues covered by insurance for expats in Thailand
Thailand is a popular destination for expats due to its affordable lifestyle and excellent healthcare system. However, settling in a new country often brings health concerns. To ensure you’re covered for the most common medical needs, understanding what expat health...
-
Unlocking digital potential: Foreign software companies ‘Thai’ the knot with Thailand’s growing tech scene
Thailand is witnessing an increase in foreign software companies setting up offices in the nation, tapping into its digital growth and the demands of local enterprises. This development has attracted big data centres and cloud service providers from various countries, including the US, Japan, and China. Among the firms choosing Thailand is Adobe Inc., an American creator of design tools…
-
Thai economy boost: Bank forecasts GDP growth, increased tourism
Anticipating a stronger Thai economy, the Bank of Thailand has expressed confidence that GDP growth will surpass their expectations. This is attributed to the economic strategies implemented by the new government, combined with progress in the tourism and consumption sectors. In a recent meeting, the Monetary Policy Committee (MPC) of the central bank stated that they foresee continuous growth in…
-
Thailand tourism eyed by Agoda CEO as business hotspot rivaling Japan, Vietnam
Agoda, the online travel agency, foresees a bright future for Thailand tourism as the country emerges as a preferred destination for business travellers, potentially rivalling top hotspots like Japan and Vietnam. Ranked second in Agoda’s largest inbound markets between January and May, Thailand’s tourism trails behind Japan in terms of overall popularity. Agoda’s Chief Executive, Omri Morgenshtern, believes Thailand’s potential…
-
Stock exchange warns investors: Tread carefully on OTO shares
Following irregular trading of One to One Contacts Plc (OTO) shares, the Stock Exchange of Thailand (SET)Â issued a warning for investors to be cautious and examine information thoroughly. OTO, which offers outsourced contact centre services to government agencies and corporations, faced a spike in trading volume, mainly concentrated among a few investors. Previously placed under the Level 1 trading regulations…
-
Bank of Thailand anticipates slower loan growth: Interest rates not main factor
The Bank of Thailand anticipates a slower pace of loan growth in the banking industry due to reduced demand, while asserting that rising interest rates are not the main factor impacting loan expansion. The central bank’s soft loan programme, which aimed to aid small and medium-sized enterprises, largely contributed to the increased borrowing during the post-pandemic recovery period. Sakkapop Panyanukul,…
-
Timber regulations tightened, Thailand targets Siamese rosewood exports
The Commerce Ministry of Thailand recently announced two new regulations targeting the timber trade. Beginning on July 17, traders will be required to hold a certificate of import to import timber, processed wood, and wooden artefacts. Additionally, starting August 16, the export of Siamese rosewood (phayung) will be prohibited, Bangkok Post reports. The director-general of the Foreign Trade Department, Ronnarong…
-
Siam Piwat Simon plans second Premium Outlets in tourist hotspot
Shopping mall operator Siam Piwat Simon Co is exploring options for the best location to open a second branch of Siam Premium Outlets Bangkok, focusing on provinces with a large local population and high foreign tourist numbers. Michael Tang, the company’s managing director, highlighted the importance of excellent transport infrastructure and convenient access for travellers when selecting the location for…
-
Thailand tourism thrives with 1,200% surge in Klook bookings
Online travel platforms continue to express optimism about Thailand’s tourism growth this year, propelled by a substantial increase in visitor arrivals. Wilfred Fan, Chief Commercial Officer at Klook, an online travel platform, stated that the company experienced a 1,200% increase in bookings for activities in Thailand year on year in the first five months of 2023. The top five markets…
-
China-Africa Expo to boost trade, explore emerging sectors
The upcoming third China-Africa Economic and Trade Expo, set to take place in Changsha from June 29 to July 2, is expected to further enhance economic and trade cooperation between China and Africa. The expo, which occurs every two years in Hunan Province, has gained significance as a platform under the Forum on China-Africa Cooperation framework. China currently holds the…
-
Thai government weighs extending diesel excise tax cut beyond July
The Thai government is considering extending the excise tax cut on diesel, which is set to expire on July 20. Prime Minister Prayut Chan-o-cha directed the Finance Ministry and other relevant agencies to evaluate the feasibility of prolonging the tax reduction. Energy Minister Supattanapong Punmeechaow revealed that the Finance Ministry has been tasked with determining the appropriateness of an extension.…
-
Thai interest rates raised to 2% by BoT amid core inflation worries
The Monetary Policy Committee of the Bank of Thailand (BoT) anticipates ongoing economic growth with some potential risks, as evidenced by their decision to increase the key Thai interest rates for the sixth consecutive meeting, according to the minutes released recently. On May 31, the committee unanimously agreed to increase the one-day repurchase rate by a quarter point to 2%,…
-
Thai outbound travel surges as Asian flight capacities increase
The Thai outbound travel market is experiencing fierce competition among Asian countries, as flight capacities have increased compared to last year. The Thai Travel Agents Association (TTAA) anticipates that the Thai outbound market could recover to half of the 11.2 million departures in 2019, prior to the pandemic, due to stronger flight frequencies in Asia. TTAA vice-president Chotechuang Soorangura stated…
-
Stark faces 23 billion baht arbitration dispute with German firms Leoni AG
Stark Corporation, a SET-listed company, is facing an arbitration dispute with German firms Leoni AG and Leoni Bordnetz-Systeme GmbH. The German firms are claiming 608 million euros (23 billion baht) from Stark, alleging a breach of their sales and purchase agreement, Bangkok Post reported. According to a filing to the Stock Exchange of Thailand yesterday, the case refers to Stark’s exercise of…
-
AIS 3BB acquisition may face strict measures due to market share
The potential acquisition of fixed broadband provider 3BB by Advanced Info Service (AIS) may face stringent consumer measures from the telecom regulator due to the combined market share of the two companies. True Corporation, a rival company, reported having 3.84 million household subscribers in the first quarter of this year, accounting for 31.5% of the fixed broadband market share, according…
-
Zen Corp and CPF launch ready-to-eat Tummour meal at 7-Eleven stores
If you visit 7-eleven a lot in Thailand, there’s good news for you. Zen Corporation Plc, known for operating restaurant chains such as Zen, AKA, and Tummour, has announced its expansion into the ready-to-eat meal market in a bid to strengthen its long-term business prospects. The company’s chief commercial officer for Thai brands, Siruwat Chatchawan, disclosed that Zen Corporation has…
-
SCB-Julius Baer launches 45 Academia programme for Thai business heirs
In Thailand, there’s a new academic programme for business heirs. SCB-Julius Baer Securities, a joint venture between Siam Commercial Bank and Julius Baer, has introduced The 45 Academia programme as part of its New Wave of Wealth strategy. This initiative aims to nurture the future leaders of wealth management by offering comprehensive training for business heirs in Thailand. The 45…
-
CPF targets 7-8% revenue growth, eyes Philippines animal feed sector
The leading food and agribusiness conglomerate Charoen Pokphand Foods (CPF)Â anticipates a 7 to 8% increase in total revenue to 610 to 620 billion baht this year, primarily due to contributions from its international business, with a focus on the growing animal feed sector in the Philippines. CPF’s chief executive, Prasit Boonduangprasert, stated that the company has been investing in pork,…
-
Thantawan Industry Plc targets eco-friendly products for Thai BCG initiative
There’s a new eco-friendly initiative in Thailand. Thantawan Industry Plc, a leading plastic manufacturer and developer of innovative products, is focusing on producing eco-friendly products in support of the Thai government’s bio-, circular, and green (BCG) economic development initiatives. The company’s garbage bags, made from recycled plastic beads, and straws, which are made from biodegradable materials, are aimed at helping…
-
Japanese investors seek Thai tech startups for regional expansion
Thai tech startups have caught the attention of Japanese investors, who are keen to support their expansion into regional markets, according to an executive at Bank of Ayudhya (Krungsri). Southeast Asia, and Thailand in particular, are considered prime investment locations for Japanese investors, who see potential in the country’s high-growth tech startups. Bunsei Okubo, head of Japanese corporate and multinational…
-
Bitkub’s bumpy ride: Thailand’s leading crypto exchange parent company sees sharp revenue decline amid market downturn
Bitkub Online (BO), the parent company of Thailand’s top cryptocurrency exchange Bitkub, experienced a 48% year-on-year drop in revenue last year, attributed to the downturn in the crypto market. Client investments also saw a significant 65% decline compared to the previous year. The financial statement published on BO’s website revealed a net profit of 341 million baht in 2022, marking…
-
Chevron Thailand’s gas game-changer: Boosting domestic supply and breaking free from costly imports
Chevron Thailand Exploration and Production aims to boost domestic gas supply to reduce the Thai government’s reliance on costly liquefied natural gas (LNG) imports, with plans to increase petroleum production in the Gulf of Thailand. The US-based company was granted a licence to explore and produce petroleum at Block G2/65, an area of 15,030 square kilometres in the gulf, under…
-
Bolt invests 300 million baht in Thai expansion amid ride-hailing competition
Estonian tech firm Bolt is set to invest 300 million baht in Thailand to bolster its presence in the country as part of its Southeast Asian expansion strategy. This move follows Bolt’s recent funding round, which raised 628 million euros at a valuation of 7.4 billion euros, earmarked for geographical growth. The company’s expansion adds to the fierce competition in…
-
Impact of higher interest rates on Thai businesses and homebuyers
Concerns are rising among industry leaders that higher interest rates could negatively impact businesses, particularly small ones, and weaken the purchasing power of homebuyers. The Bank of Thailand’s Monetary Policy Committee recently voted to raise the policy rate to 2.00% from 1.75%, prompting state and private banks to follow suit. The Federation of Thai Industries (FTI) warns that higher interest…
-
Thailand urged to boost beauty and wellness market for long-term growth
Thailand’s new coalition government is being encouraged to adopt a consistent policy to support the nation’s beauty and wellness market over an extended period. Ketmanee Lertkitcha, the chairwoman of the health, wellness and beauty industry cluster of the Federation of Thai Industries, highlighted the need for a national strategy to promote this sector, which, along with tourism, plays a crucial…
-
Binance.US drops dollar trading amid banking partners’ withdrawal
Binance.US, the American subsidiary of the world’s largest cryptocurrency exchange, announced that it will cease offering trading services in United States dollars. This decision comes after the company’s banking partners withdrew support due to pressure from federal regulators. The inability to trade in US dollars is a significant setback for Binance.US, as one of the primary functions of a cryptocurrency…
-
Teka Construction shifts focus to non-condo projects for revenue growth
Teka Construction Plc is shifting its attention towards non-condominium projects, housing developments, and construction materials in an effort to decrease its dependence on high-rise residential projects. Chief Financial Officer Suphon Chongchintaraksa revealed that the company plans to broaden its scope and clientele to encompass various construction projects, including international schools, warehouses, shopping centres, and government sector developments. “Construction work in…
-
Thai firms eye investment deals in Saudi Arabia
Thailand and Saudi Arabia are forging strong economic ties, with several collaboration deals in progress. Sanan Angubolkul, chairman of the Thai Chamber of Commerce, recently visited Saudi Arabia with a Thai delegation led by Foreign Minister Don Pramudwinai. During the visit, it was announced that PTT Oil and Retail Business Plc (OR) plans to establish petrol stations in Saudi Arabia,…
-
Thai air-con component exports to US soar amid heat wave surge
Rising heat waves in the United States have driven a surge in Thailand’s exports of air-conditioner components during the first quarter. The increase in demand has led to air-conditioner parts becoming the top product category benefiting from the generalised system of preferences (GSP) privileges awarded by the US. The Foreign Trade Department reported that Thai exporters utilised GSP privileges worth…
-
90% Thai employees seek new jobs despite bleak economy
A significant majority of Thai workers are open to exploring new job opportunities despite an uncertain global economic climate, a recent study by recruitment firm Michael Page has found. The Talent Trends report, which surveyed 942 individuals in Thailand, revealed that over half of the respondents are actively seeking or planning to find new employment within the next six months.…
-
FTI seeks Chinese investment boost in Thai EV, food, and healthcare sectors
The Federation of Thai Industries (FTI) is seeking to boost Chinese investment in Thailand, focusing on the electric vehicle (EV), food, and healthcare sectors, through increased business collaboration with Beijing. Kriengkrai Thiennukul, chairman of the FTI, recently met with the Chinese ambassador to Thailand, Han Zhiqiang, to discuss potential investment opportunities. Kriengkrai envisions Thailand as a production base for Chinese…
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.