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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PDMO to sell 100 billion baht savings bonds for budget deficit funding
The Public Debt Management Office (PDMO) announced plans to sell 100 billion baht (US$2.78 billion) worth of savings bonds within the fiscal year to finance the budget deficit. The initial issue, valued at 40 billion baht (US$1.1 billion), will be offered next month, according to the director-general of the PDMO, Patchara Anuntasilpa. The first tranche of savings bonds for the…
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SET proposes market cap rise for short selling, higher fines for violations
The Stock Exchange of Thailand (SET) proposed a rise in the stock market capitalisation requirement for securities eligible for short selling, along with a threefold increase in fines for rule violations. This move forms part of the SET’s strategy to enhance market supervision and bolster investor confidence. These changes, which are subject to a public hearing, propose to raise the…
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Thai export competitiveness declines with focus on rice market
The Bank of Thailand reports a significant decline in Thai export competitiveness, particularly in global rice markets. Over the last 20 years, the market share of rice shipments has dropped by over 50%. This reduction is a result of persistent structural issues in the export and manufacturing sectors, affecting the Thai economy at large. The bank’s recent report reveals that…
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PM Srettha unveils economic vision focusing on tourism and booze
Prime Minister Srettha Thavisin unveiled his comprehensive vision for Thailand’s economic boom, focusing on tourism enhancement and the liberalisation of alcohol consumption at internationally renowned concerts. Speaking at the Thailand Vision gathering at Government House, PM Srettha’s address, which was broadcast live on NBT television, presented his ambitious strategies to foster economic growth. Tourism is at the core of his economic…
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Thailand promotes electric trucks and buses with new incentives
The National Electric Vehicle Policy Committee in Thailand has given the green light for incentives aimed at encouraging companies to switch their commercial fleets of large trucks and buses to battery electric vehicles (BEVs). The committee has also approved cash grants for manufacturers of EV battery cells. The secretary-general of the Board of Investment and secretary of the Electric Vehicle…
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INETREIT plans 3.2 billion baht capital increase to fund cloud services expansion
INET Leasehold Real Estate Investment Trust (INETREIT) is preparing to increase its capital by up to 3.2 billion baht (US$89 million). This move is anticipated to finance its additional investment in the INET-IDC3 phase 2, managed by Internet Thailand (INET), an information and communication technology infrastructure provider. The decision aims to profit from the growing demand for cloud services in…
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Thai authorities tackle surge in cheap Chinese imports
A surge in cheap Chinese products flooding Thai markets, particularly through e-commerce platforms, has prompted Thai authorities and organisations to seek measures to protect local producers. The influx has negatively impacted local small manufacturers of household goods and has boosted calls for the Revenue and Customs departments to expedite their efforts in controlling this wave of low-cost goods. Prime Minister…
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New EV incentives boost investment in Thai automotive sector
The Federation of Thai Industries (FTI) expressed confidence in the transformative potential of the new electric vehicle (EV) incentive packages, anticipating a significant boost to investment in the automotive sector and related businesses. As Thailand strives for sustainable economic growth and enhanced competitiveness, surges in investment are vital, particularly in the targeted S-curve industries encompassing next-generation vehicles. Surapong Paisitpatanapong, the…
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Southern Thailand sees room revenue surge due to European visitors
Southern provinces of Thailand are experiencing a boost in room revenue in the first quarter, thanks to extended stays by European visitors. This increase has occurred despite the lesser number of tourists from China. Room rates have reached a new high, setting a record. Pongsakorn Ketprapakorn, the ex-president of the Tourism Council of Phangnga predicted the surge. “The first quarter…
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Thailand incentivises companies to go green with EV conversion
The Thailand government confirmed yesterday that measures have been approved to encourage companies to convert their commercial fleets of large trucks and buses to battery electric vehicles (EVs). This move aims to increase the adoption of EVs and support companies in achieving their net-zero targets. In addition, cash grants will be provided for EV battery cell manufacturers. These policies are…
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Bank of Thailand faces political pressure to cut interest rates
The Bank of Thailand (BoT) is under increased political tension to reduce interest rates, with the majority of analysts predicting that the monetary authority will withstand requests for unexpected easing to bolster the economy. This escalating discord between Prime Minister Srettha Thavisin and the central bank concerning monetary policy direction is predicted to damage investor confidence, though the likelihood of…
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Huawei cloud stack: A step towards making Thailand ASEAN’s digital hub
Huawei Technologies (Thailand) Co., Ltd. recently showcased its Huawei Cloud Stack technology at an event, emphasising its commitment to providing secure and reliable cloud services to local data centres serving enterprise markets. This aligns with Huawei’s mission of In Thailand, for Thailand, which underpins its efforts to help transform Thailand into a digital hub for the ASEAN region. The Huawei…
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FTI urges support for Thai SMEs to boost global herbal medicine exports
The Federation of Thai Industries (FTI) urged the government to strengthen its support for small and medium-sized enterprises (SMEs) involved in herbal development and production. The move is aimed at enhancing their global competitiveness and propelling Thailand into the top 10 herbal medicine exporters worldwide. SMEs in the sector are currently struggling with insufficient funds for research and development, and…
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CKPower sparks renewed growth under new leadership
CK Power Public Company Limited (CKPower), led by Managing Director Thanawat Trivisvavet, is set to continue its positive performance trend, buoyed by seasonal factors and a commitment to enhance its renewable energy capacity. The company’s goal aligns with its CKP NET ZERO EMISSIONS 2050 initiative. CKPower, one of the leading renewable energy producers with a minimal carbon footprint, disclosed a…
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SET to tighten supervision of listed Thai firms starting March 25
The Stock Exchange of Thailand (SET) announced plans to strengthen the supervision of its listed companies from March 25 onwards, as part of an initiative to reinforce their financial standing and provide detailed disclosure for investors. SET’s president, Pakorn Peetathawatchai, stated that the move aims to provide investors with clearer and more varied warning signs to alert them of potential…
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PM Srettha urges bank of Thailand to consider interest rate cut
Prime Minister Srettha Thavisin expressed his concerns to the Bank of Thailand’s (BoT) Monetary Policy Committee (MPC), suggesting an urgent meeting to discuss a potential cut in interest rates, rather than waiting until the scheduled April meeting. Following a recent Cabinet meeting, PM Srettha clarified that he hadn’t imposed any pressure on the secretary-general of the National Economic and Social…
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Bank of Thailand explores credit guarantee schemes for SMEs
The Bank of Thailand is contemplating the establishment of credit guarantee schemes for small and medium-sized enterprises (SMEs) to enhance their access to bank loans. Suwannee Jatsadasak, assistant governor for the supervision group, stated that the central bank is analysing various credit guarantee schemes implemented in other countries, including Japan and Taiwan. These nations offer more extensive credit guarantee packages…
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Thai baht’s future forecast: Dollar domination looms on the horizon
Predictions by Kasikorn Research Center (K-Research) indicate a potential decline in the baht to 37 against the US dollar in the coming year. This anticipated depreciation is linked to a combination of a faltering Thai economy and a delay in American interest rate reductions, thereby placing the Thai currency under considerable strain. Kanjana Chockpisansin, K-Research’s head of banking and financial…
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AI and social media search optimisation to shape trends
The forthcoming year, 2024, is poised to be an exhilarating time for both consumers and marketers, as brands embrace and exploit artificial intelligence (AI) on a larger scale, predicts Bhidak Indraduta, the managing director of Mindshare Thailand, a leading media agency. A surge in social media search optimisation, privacy marketing, and responsible AI use are tipped as the key trends…
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PTTGC expands recycling operations focusing on opaque plastic containers
Thailand’s foremost petrochemical producer by capacity, PTT Global Chemical Plc (PTTGC), is broadening its recycling operations with a focus on opaque plastic containers, primarily bottles. This endeavour is part of the company’s newly introduced campaign aimed at fostering eco-friendly habits among the youth. The campaign constitutes the company’s second environmental initiative following its venture into recycling waste polyethene terephthalate (PET)…
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Thai export growth projected at 2-3% amid global economic recovery
The UTCC (University of the Thai Chamber of Commerce) predicted a revival in exports, projecting a growth of 2-3% for the year, which equates to a value between US$290-293 billion. This shows a significant improvement from the 1% contraction experienced in the previous year. The UTCC’s president, Thanavath Phonvichai, attributed this predicted resurgence largely to the global economic recovery and…
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Thailand PM calls for cut in interest rates amid economic crisis
The Prime Minister and Finance Minister of Thailand, Srettha Thavisin, urgently called upon the Bank of Thailand (BoT) to organise an unscheduled meeting of its Monetary Policy Committee (MPC). The objective of this meeting is to consider a cut in interest rates, as recent data suggests that the nation’s economy is in crisis. PM Srettha’s plea for this urgent meeting…
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Myanmar conflict may drive surge of workers to Thailand
The ongoing conflict in Myanmar is predicted to drive its citizens towards Thailand in search of work, according to the Employers’ Confederation of Thai Trade and Industry (EconThai). Following the 2021 military coup and the government’s urgent need to bolster its forces through conscription, Myanmar residents eager to avoid the draft may seek refuge in Thailand, potentially entering the labour…
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Thailand’s EGAT targets biomass, hydrogen to cut CO2 emissions
The Electricity Generating Authority of Thailand (EGAT) is endeavouring to combat climate change by adopting alternative fuels to replace coal in its power plants. Partnering with the Forest Industry Organisation, a study is underway to identify fast-growing plants suitable for conversion into biomass fuel. This initiative falls within EGAT’s strategy for long-term CO2 reduction, as confirmed by Chaiwut Lakmuang, the…
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TBA urges integration of informal economy for digital growth
The Thai Bankers’ Association (TBA) has advocated for integrating the informal economy into the national economic framework to enhance transparency and bolster the country’s digital economy. The recovery index of Thailand’s GDP post-pandemic in 2023 was marked at 110, underperforming the worldwide average of 80, according to the TBA. A higher score on this index indicates a lengthier recovery period.…
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GSB asses terms for informal debtors in Thailand’s debt relief bid
Deputy Finance Minister Krisada Chinavicharana announced that the Finance Ministry has tasked the Government Savings Bank (GSB) with reassessing conditions for informal debtors. This move is part of the government’s steadfast resolution to address economic issues, especially those concerning formal and informal debt. The responsibility of registering informal debtors and facilitating negotiations with informal lenders has been given to the…
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Thailand aims for top ASEAN agricultural exporter with new FTAs
A Government of Thailand spokesperson revealed plans to enhance economic cooperation and attract foreign trade and investment, which could propel the Thai nation to the top of the agricultural export rankings in ASEAN through the implementation of Free Trade Agreements (FTA). The spokesperson for the Thai Prime Minister’s Office, Chai Watcharong, disclosed Prime Minister and Finance Minister Srettha Thavisin’s determination…
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Hong Kong bolsters business links with SE Asia and Middle East
Hong Kong is set to intensify its business ties with Southeast Asian and Middle Eastern nations, as part of its contribution to China’s Belt and Road Initiative. Nicholas Ho Lik-chi, the Commissioner for Belt and Road, has identified Malaysia, Thailand, Indonesia, Vietnam, the United Arab Emirates and Saudi Arabia as key cooperation partners for the year ahead. Ho Lik-chi oversees…
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AWS plans to democratise generative AI as global fight heats up
Amazon Web Services (AWS), Amazon’s cloud computing division, unveiled its plans to make technology and generative artificial intelligence (AI) readily available. This initiative comes as the global generative AI sector becomes increasingly competitive. Jaime Valles, AWS Vice President of the commercial sector for Asia-Pacific and Japan, highlighted the transformative influence of cloud computing in granting global access to technology and…
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Thai banking industry faces hurdles amid high auto loan rejections
Last year’s robust profits from the Thai banking industry stirred debates, as critics pointed to excessively high interest rates. The sector witnessed a 17.8% surge in net interest income (NII) to 727 billion baht (US$20.2 billion) in 2023, up from 617 billion in 2022. The five biggest banks by assets contributed significantly to this rise with an increased net interest…
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