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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Chinese move their purchase power away from Bangkok condo market
Chinese condo buyers are veering their purchase power away from the Bangkok property market citing the strong Thai currency, overpricing and a supply glut. 2015 – 5.8 Yuan to the Thai Baht 2019 – 4.4 Yuan to the Thai Baht The rise of the baht and the weakening of the Chinese Yuan over the past four years, have culminated in…
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Bangkok to Hua Hin van operators blame Prayut but passengers say the service was “terrible”
PHOTO: NewsBeezer A minivan service from Bangkok to Hua Hin has been forced to conclude services by the end of June. “June and James Transport” are blaming the military government and NCPO leader Prayut Chan-o-cha. But Manager Online says reviews from customers shed a different light on the story saying the service was “terrible”. Customers say the vehicles were terrible…
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True Digital Park opens in Sukhumvit 101 Road, Bangkok
Under the concept of ‘One Roof, All Possibilities’, the new True Digital Park is now ready to support the country in driving the digital economy. The “Work Space” is a workplace and digital innovation development space. The True Digital Park says they will collaborate with government agencies, enterprises and global tech giants including The National Innovation Agency, Digital Economy Promotion Agency,…
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Administrative Court rejects private hospitals’ plea to remove caps on pricing
Thailand’s private hospital sector has failed to win respite from an order controlling their medical prices, after the Supreme Administrative Court turned down their request. The court made the decision saying that the order will not cause irreversible damages to the hospitals even though an injunction has not been issued yet. The Private Hospital Association, together with 42 private hospitals,…
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Fishermen say they will protest fishing bans off Nakhon Si Thammarat, Thailand
Fishermen in Nakhon Si Thammarat are warning of mass protests against the provincial governor if he doesn’t act and allow them to fish legally in the seas off the provincial coast. The south Thailand fishermen say they’re being harassed by fishery officials. 500 local fishermen gathered yesterday to air their grievances to the newly elected Palang Pracharat MP for the…
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Private sector waits for new economic ministers to raise investor confidence
The private sector says they’re waiting to see the new ministers emerge from the current negotiations that will be in charge of economic portfolios, who may raise the confidence of investors. Meanwhile, the Consumer Confidence Index was at 77.7 in for the month of May, the lowest in 19 months. Thanawat Pholvichai, director of University of the Thai Chamber of…
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Facing headwinds in 2019, Thai economy looks better for 2020
The Thai economy is projected to grow 3.8% in 2019, slightly below last year’s 4.2%. The main reason is slower growth in the global economy. thailand-business-news.com reports that this is likely to lead to a deceleration in Thai exports and tourism, which will impact domestic consumption. But the report says that foreign direct investment and government stimulus measures could prop up…
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Final design for Phuket Light Rail wrapped up next week
A final design of light rail (tram) project in Phuket should be concluded by next week as a dispute over how the rail structure will be laid is close to being settled. Deputy Transport Minister Pailin Chuchottaworn says recent talks have been focussing on the design of tram track construction along some of the densely populated areas from the airport…
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MRT extension from Hua Lamphong to Tha Phra opens Mother’s Day in Thailand
PHOTO: The Nation A free trial service of the MRT Blue Line extension from Bang Sue to Tha Phra in Bangkok will be launched at the beginning of next year, and commercial services will begin in March. Mother’s Day on August 12 this year has been picked for the official launch of the MRT extension service from Hua Lamphong to…
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Nation Multimedia Group takes legal action over alleged copyright violation
The Nation Multimedia Group is filing criminal cases against two media monitoring service companies for violation of its copyright. NMG’s subsidiaries Krungthep Turakij Media, Nation News Network and Kom Chad Luek Media, as plaintiffs, filed criminal cases with the Central Intellectual Property and International Trade Court on April 9 against iSentia Bangkok and iSentia Monitoring Services (Thailand). The two companies…
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Where are Thai’s heading for this summer holidays?
Thai travellers who are booking through Airbnb are discovering new ‘off the beaten track’ destinations. Globally, Airbnb identifies some of the top trending destinations based on percentage growth in bookings during the same time last year *. And when we say growth, we mean mega growth! The top choices are: • Valenciennes, France (704%) • Changsha, China (695%) • Matsudo, Japan…
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And then there were three. Bidding for Airport duty free concession.
Only three Thai bidders – King Power Duty Free, a consortium led by Bangkok Airways, and a bid by Royal Orchid Hotel – remain in play as the companies attempt to win the licence to run duty-free shops at the Phuket, Chiang Mai and Hat Yai international airports. The Central Department Store bid has formerly dropped out of the bidding…
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Airports of Thailand open bidding for new duty free contracts at three airports
Airports of Thailand (AoT) says they will finalise the bidding process to announce who will manage the commercial areas at three provincial airports – Phuket, Had Yai and Chiang Mai – on June 10. King Power Duty Free has had a stranglehold on the duty free concession areas of the country’s four main airports but are having to bid for…
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Thai Smile joins Star Alliance as ‘connecting partner’
Thai Smile Airways, the budget offshoot of Thai Airways, will become the “Connecting Partner” in the Star Alliance, the world’s largest airline network. Customers travelling on an itinerary which includes a transfer between a Star Alliance member airline and a Connecting Partner will be offered standard alliance benefits, such as the issue of a boarding passes for connecting flights at…
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Thailand’s export growth expectations revised down to just 3% in 2019
“Export trends are aligned with global sentiment and the outlook for other Asian countries, making export prospects murky because of the escalating trade war.” The government is massively revising down their export growth targets to just 3% this year from an earlier 8% growth estimate. Deputy PM Somkid Jatusripitak is blaming the global economic slowdown, the ongoing trade spat between the…
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Officials demolish 38 year old Kieat Tong Chai market in Bangkok
PHOTOS: Daily News Bangkok officials (BMA) have demolished a market built to occupy the middle of a road in Din Daeng district following 38 years of disputes. The Nation reports that Din Daeng district office director Panchapat Lakdee says they’ve demolished the Kieat Tong Chai market to make more space for motorists in the middle of Soi Pracha Songkroah 38…
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Thailand’s aviation industry passes international inspections
A pass mark, maybe a C+. The International Civil Aviation Organisation (ICAO) told Thai aviation officials have scored 65.07%, exceeding the minimum pass mark of 60%. Thailand only scored 34.2% when it received a ‘red flag’ four years ago. The score has been awarded after ICAO officials carried out a full inspection of Thailand’s civil aviation standards The inspections were…
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Beam me up Phuket – new space theme hotel for the island
A 150 key space themed hotel is under development in Kathu, Phuket, by a Singaporean group . Located close to the Central Festival and Makro complexes, the project is expected to open next year according to a report in TTG Asia. The One Pioneer – Beyond Space Travel hotel say it’s “highly focused on an outer space storyline and will have…
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25 workers injured after container explosion at Laem Chabang Port
At least 25 port workers have been injured and locals evacuated after an explosion in a container on a ship at dock at the Laem Chabang Port in Chon Buri, east of Bangkok, this morning. Laem Chabang’s port director Vice Admiral Yutthana Mokkhao says an urgent investigation is being undertaken to determine the contents of the container. The Hong Kong ship…
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IKEA Thailand launches full online store
“…it took IKEA about two years to study the market demand, develop the infrastructure, and prepare everything before launching their e-commerce service in Southeast Asia.” by Kwanchai Rungfapairsarn IKEA Thailand has announced the official launch of its IKEA Online Store as it gets set to better provide for individual customers across the Kingdom. IKEA Thailand say the seamless online shopping…
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April’s exports fall to the lowest level in 24 months
“Deputy PM Somkid Jatusripitak has scheduled a meeting on May 31 with Thailand’s commercial attachés from across the world in a bid to boost exports.” Thailand’s exports fell 2.6% last month (April) to US$18.5 billion, the lowest level since May 2017. Thai PBS reports that imports in April also dropped by 0.72% to about US$20 billion, resulting in a trade…
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WeWork opens up in Bangkok. What is WeWork?
“This will pave the way for WeWork’s unique proposition to connect two major groups within the WeWork community: corporations looking to innovate, and start-ups looking to grow and better establish their business.” WeWork has started operations in Thailand. So what is WeWork? WeWork – a platform for creators that provides space, community and services to help people build a life,…
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Skål International heads to Phuket, June 2020
by Paul Poole Tourism industry professionals from all over the world are expected to descend on Phuket between June 25-27, 2020, for the 49th edition of Skål Asia Congress. With more than 15,000 members in almost 90 different countries, Skål International is the world’s largest organisation of tourism professionals. Through countless local, national and international events, Skål International promotes global tourism…
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Central’s new Suvarnabhumi lifestyle centre set to open late August
PHOTO: Central Pattana Central Village, a new luxury retail outlet situated near Suvarnabhumi International Airport, is 70% finished. Wallaya Chirathivat, deputy chief executive of Central Pattana, says the new lifestyle shopping precinct is scheduled to open on August 31. Central says that retail space in Phase 2 have now opened after Phase 1 of the retail development was totally booked. They report…
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BioThai Foundation says companies growing hemp commercially will create monopoly:
“…as of now, only official agencies are allowed to grow hemp in the tribe-development zones in Chiang Mai, Chiang Rai, Nan, Tak, Mae Hong Son and Phetchabun provinces.” The Thai government’s plan to let privately-owned companies grow hemp commercially is progressing as part of a three year trial. But, BioThai Foundation says that giving specific companies the right to plant hemp…
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Air Asia resumes flights from Phuket to Jakarta
AirAsia Indonesia says they will resume direct flights between Phuket and Jakarta on the second of July this year. Flights will be available three times a week. For AirAsia, the move marks a return of the route which had been flown for a number of years in the past. “Currently the traveling trend continues to increase especially in the youth market, hence…
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Export growth expected to be the lowest in four years
Export growth for Thailand this year is is now being pegged at less that 1%, the lowest growth in four years. Mr. Ath Pisarnwanich, director of the International Trade Study Centre at the University of Thai Chambers of Commerce is saying the low growth is a result of both the escalating US-China trade war and the Vietnam-EU free trade agreement. The…
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Thailand slashes 2019 exports estimates as trade war escalates
by Phuwit Limviphuwat Thai exporters are expected to pay a heavy price as the ramping up of the US-China trade war continues. The US has now launched a new round of tariffs on Chinese imports. Last Friday US President Donald Trump tweeted: “Talks with China continue in a very congenial manner, there is absolutely no need to rush, as Tariffs…
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Thai banks on 156 billion baht spending spree for recovery
“He hoped the airline could be profitable again in mid-2020.” Thai Airways International is seeking cabinet approval to buy or lease 38 new planes at an estimated cost of 156 billion baht. In the proposal 31 planes will be acquired over the next five years. Thai Airways president Sumeth Damrongchaitham says the proposal would reach Deputy PM Somkid Jatusripitak this…
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Prayut tentatively embraces China’s Belt and Road strategy for Thailand
Thai PM’s appearance at the second Belt and Road Initiative forum in Beijing last weekend suggests the luke-warm relations between China and Thailand persist. Whilst both nations portray a strong willingness to progress in their financial partnerships there is still a gulf between the two country’s preferred outcomes in the deals they are forging. Last time Beijing snubbed the Thai…
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