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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Sponsored Promoting sustainable tourism at Blue Tree Phuket: Initiatives and impact
Blue Tree Phuket has been offering experiences that are both fun and environmentally conscious for many years. The comprehensive entertainment hub and waterpark has implemented numerous programs to enhance the sustainability of its practices, with its most recent endeavour being...
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Phuket Business: HMRC approves Gibraltar
PHUKET: Another surprising development in a year which has seen the UK pension transfer market repeatedly shaken up and placed on its head, Gibraltar announced last recently that it received confirmation from (Her Majesty’s Revenue & Customs) HMRC that it may resume accepting QROPS (Qualifying Recognized Overseas Pension Schemes) transfers. The move is extremely surprising because HMRC is not known…
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Phuket Business: Signs of the island’s time
PHUKET: The Phuket Provincial Government recently published its economic summary report for the first six months of the year (F6M12). The in-depth report highlights year-on-year (y-o-y) figures and trends in trade, consumerism, and in the island’s tourism, property, investment and agricultural sectors. Here, the Phuket Gazette outlines some of these.TourismThe total number of tourist arrivals in F6M12 remained steady with…
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Phuket Investor: Excuse me, what is QE3?
PHUKET: Being a regular on the sun soaked shores of Phuket, watching the many boats sail by on a frequent basis, one may start thinking that QE3 is a new luxury cruise liner replacing the old QE2 that was recently decommissioned. Not the case. In the never ending roller-coaster ride that is the world of finance, this is the latest…
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Phuket Business: Let’s go back and review the basics
PHUKET: Every once in a while I think it’s good to go back and review the basics. This is especially important in a world where the rate of change keeps increasing. Ever since the financial crisis began we have heard a lot of saber rattling with regards to offshore financial centers, banking secrecy, tax information exchange agreements and so forth.…
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Phuket Business: Pickup sales champ
PHUKET: Reinforced with continuous, cutting-edge improvements to its steering and suspension systems, the Toyota Hilux Vigo Champ looks to retain its stronghold on the domestic pickup market. The Phuket Gazette had the opportunity to join an exclusive tour of Toyota Motor Thailand’s (TMT) Ban Pho production plant recently, gaining a first-hand look at the prized truck’s production and assembly line.…
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Phuket Business: 200 years of market crises
PHUKET: With the US stock market sitting near its 52-week high, and already having made a 100% move upwards from its low at the peak of the sell-off that occurred during the financial crisis, I have dug a bit deeper into history to get a feel for the frequency of crashes. I have a good grip on the longer bull/bear…
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Phuket Business: Smile – you’re on THAI
PHUKET: Last week Prasert Tanhansa, manager of the THAI Airlines (TA) district sales office in Phuket, announced new Phuket routes to be serviced, starting next month, by the national carrier’s new airline, THAI Smile (TS). Here, the Phuket Gazette’s Chaiyot Yongcharoenchai speaks exclusively with Mr Prasert about market positioning, strategies and more. PHUKET GAZETTE: TS has been called by some…
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Phuket Business: PIMEX 2013 International Boat Show dates announced
PHUKET: THE 10th edition of the Phuket International Boat Show (PIMEX) will be held at the Royal Phuket Marina from March 21-24 next year, the event’s organizers have announced. As one of the region’s largest and most significant marine, boating and yachting exhibitions, the four-day event will showcase leading marine and lifestyle businesses, products and services with a large in-water…
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Phuket Business: Thailand – US trade reviving
PHUKET: More than 700 American companies will have a combined investment of US$40 billion – approximately 1.25 trillion baht – in Thailand by the end of 2012, a business leader recently told the Thai government. The president of the American Chamber of Commerce (AMCHAM), Joe Mannix revealed the figure in a speech given at a thank-you function for the government,…
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Phuket Business: Interfering with the navigation systems
PHUKET: Your aircraft has just landed at Phuket International Airport and out comes the ubiquitous mobile phone, despite the flight crew asking you to keep it switched off until the plane arrives at the gate, because of concerns it may interfere with the aircraft’s avionics, thus endangering all on board. A familiar scene to everyone arriving on Phuket and particularly…
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Phuket Business: The tree that bears fruit
PHUKET: At the helm of Anuphas Vividhkarn Co Ltd’s CSR program is Montavee “Tommy” Hongsyok. The 35-year-old Assistant Managing Director of Phuket’s exclusive Honda dealership follows in the footsteps of his father, Montri Hongsyok, an accomplished executive and respected community figure in Phuket. Following is a Q&A session that the Phuket Gazette recently had with Tommy about the Honda dealer’s…
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Phuket Business: Pineapples please
PHUKET: A pineapple trading center was opened in Phuket recently in a move aimed at centralizing provincial supply of the fruit, and thus increasing its market penetration potential across Southeast Asia. Vinai Kwankaew of the Phuket Agriculture Office said that pineapples have become the province’s most significant revenue-generating fruit. Phuket pineapples are known for their sweet flavor, tasty and yellow…
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Phuket Business: Beer, wine and automobile excises poised for revision
PHUKET: In light of Cabinet’s recent approval of tax hikes for cigarettes and liquor, the Excise Department is now looking to increase revenue shares from the trade of beer, wine and automobiles.Quoted in a report by the Nation, Benja Louichareon, director-general of the Excise Department, said, “The department is also looking at whether it should increase tax on beer and…
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Phuket Business: AMCHAM affirms commitment to saving the environment
PHUKET: The American Chamber of Commerce (AMCHAM) Greater Phuket Chapter assembled at Holiday Inn Patong for its third meeting of the year recently. Organized in conjunction with environmental organization, SEEK, the evening’s discussions focused on ways that hospitality and tourism stakeholders can implement “Green Tourism” practices while reducing operational overheads and thus increasing profit margins. The meeting followed an all-day,…
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Local TAT chief bullish on Phuket tourism industry
PHUKET: The new director the Tourism Authority of Thailand (TAT) office in Phuket Town has proclaimed the “low season” a thing of the past with so many tourists arriving year-round. Speaking at the “Governor Meets the Press” gathering at Provincial Hall today, TAT Southern Region 4 Office director Chanchai Doungjit expressed confidence in the performance of the Phuket tourism industry,…
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Phuket Business: Midyear tax filing deadline tomorrow
PHUKET: Tomorrow, August 31, is the midyear tax return filing deadline for both companies and individuals who have generated income in Thailand during the first six months of 2012 – regardless of where or how payments were made. The Revenue Department website states: “A company [or individual] is obliged to estimate its annual net profit [or net income] as well…
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Laguna Phuket announces expansion plan
PHUKET: A lavish dinner to celebrate the 25th anniversary of Laguna Phuket was held on Friday, where Chief Executive of Laguna Resorts & Hotels Ho Kwon Ping (known as KP Ho) gave a preview of upcoming expansion plans for the group. A new mixed-use development overlooking a west-coast beachfront lagoon between the Dusit Thani Resort and upcoming Outrigger Laguna Beach…
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Phuket Business: The ultimate island view
PHUKET: What do you get when you cross a remote controlled helicopter with a camera? A helicam of course. Helicam is also the name of the Phuket-based company that has been hovering over the island for the past eight years. And what do you get when you have eight years of aerial shots of Phuket? An opportunity to create a…
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Phuket Business: German economist warns about ASEAN+3
PHUKET: Mechanisms need to be in place for crisis prevention and resolution before the next economic crash, and this means the Southeast Asian regional financial structure needs to be reformed, warns Ulrich Volz, a senior economist at the German Development Institute.Giving a public lecture at Chulalongkorn University on lessons learned from the current European crisis, Volz said there were five…
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Phuket Business: Mid-year tax filing deadline approaches
PHUKET: Companies and individuals who generated income in Thailand during the first six months of 2012 – regardless of where or how payments were made – have until August 31 to file their midyear tax return. In this first article, we will go over the basics of regulations and procedures for filing and paying income tax in Thailand. Next week,…
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Emirates to launch Dubai – Phuket daily flight service
PHUKET: Emirates, one of the world’s fastest growing airlines, continues its network expansion with the announcement of the start of daily services to Phuket in Thailand. Phuket, the largest island in Thailand, will, from December 10, become Emirates’second destination in Thailand. To be serviced by a three-class Airbus aircraft, flight EK378 will depart Dubai at 12:45pm and arrive at Phuket…
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Phuket Business: Football Club sales steady
PHUKET: Business was steady for Phuket FC during the first half of the 2012 season, with the club’s accounts revealing nearly a million baht in revenue. Accounts for the 18-team Thai Yamaha One soccer league (Division 1), recently released by league’s mother company, Sponsor Thai Premiere League, show that Phuket FC generated a gross revenue of 976,830 baht from March…
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Phuket Business: India, Vietnam rice exports to surpass Thailand in 2012
PHUKET: A Thai trade researcher has concurred with a recent prediction by the United States Department of Agriculture (USDA) that India and Vietnam will export more rice than Thailand this year. Thanawan Phonwichai, the Director of the Business and Economics Forecasting Center at the Thai Chamber of Commerce University said that Thailand is expected to lose its crown as the…
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Boonthaworn Phuket showroom to open by October 1
PHUKET: After years of delay, Bangkok-based construction materials retailer Boonthavorn is moving forward with its plans to enter the Phuket market with the opening of a “mini-showroom”.The new facility will be located between Songkhla and Yaowarat roads, near the Tesco-Lotus junction in Rassada.Speaking to the Gazette at the project site, Boonthavorn architect Jiravut Kararun said the company is currently renovating…
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Phuket Business: Transit investors; Travelmob makes a move
PHUKET: A Thai-Australian consortium was the latest multi-national delegation to express interest in constructing the Phuket mass-transit, light-rail project which Cabinet gave provisional approval for at the mobile Cabinet meeting in Phuket in March. Thai Rail Tech company representative Sirichai Prasertwaree and Neil Heaton, general manager of the Hong Kong branch of United Group Limited (UGL), on July 10 met…
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Phuket hotel investments surge in 2012
PHUKET: Jones Lang LaSalle Hotels is predicting that Phuket will be one of Asia Pacific’s hotel investment hot spots in 2012, following record sales in the first half of the year. Investment in the hotel property sector in Phuket is expected to exceed 10 billion baht (US$315m) for the full year for first time ever in 2012. Mike Batchelor, Managing…
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Phuket Investor: The alternative gold rush
PHUKET: With all the economic strife the world has seen over the past 12 months, I feel as if I’ve turned into a portrayer of doom. So, I’m taking the doom gloves off and jumping on the feel good train, which seems to have hit the European markets this last couple of weeks. I’m not saying that the problems have…
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Phuket needs “facelift’ before ASEAN Community 2015
PHUKET: Officials took another look at necessary island developments during a Phuket Tourism Association (PTA) seminar Friday, as Phuket prepares to enter the ASEAN Economic Community (AEC) 2015. “This is the third seminar that [the PTA] has held on this topic, because we understand the importance of ‘creative tourism’ and the necessity of applying it to Phuket in preparation for…
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Phuket Business: Google extending online reach for local businesses
PHUKET: Celebrating its inaugural year and 100,000 new businesses online, Google Thailand’s ‘Thai Businesses Go Online’ program (TBGO) has paved the way for the next stage in the evolution of an economically prosperous online ecosystem. Highlighting TBGO’s success, the IT and Marketing mega-icon’s country office reported that it has attracted more than 100,000 participants nationwide in a year – far…
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‘Creative Tourism’ seminar in Phuket next week
PHUKET: In preparation for the measures of the Asean Economic Community (AEC) set to take effect in less than three years, the Phuket Tourist Association (PTA) will host a seminar on Friday, July 20 to promote sustainable tourism under the concept of “creative tourism”. Among the distinguished guests invited to speak are former Bangkok Governor and current Democrat Party deputy…
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