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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Is private health insurance in Thailand worth it? Real costs vs risks explained
Thailand has a strong healthcare system with both public and private options. Public hospitals offer affordable care, but many people, including expats, choose private health insurance for faster service, modern facilities, and more treatment choices. To decide if private health...
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TAT will use domestic tourism as dress rehearsal for international returns
“…the tourism sector will continue to be stifled by disease control measures until a Covid-19 vaccine is developed.” Due to the current ban on international arrivals, extended several times and now in effect until at least July, the Tourism Authority of Thailand has created a strategy to support domestic tourism and “learn from the experience”, as it eases into the…
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Government says Cambodian workers should remain in Thailand during Covid-19
The director general of Thailand’s Employment Department, Suchart Phonchaiwisetkun, says Cambodian labourers should remain in Thailand while the fight against the Covid-19 goes on in the region. He was speaking following a meeting with the the Cambodian Ambassador, Ouk Sorphorn, where they discussed how Thailand would deal with its migrant workforce during the pandemic. According to a report in Nation…
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Beauty clinic designs special face masks for facial treatments
A skin and beauty clinic has designed a mini face mask for clients getting close-up facial treatments to prevent the spread of the coronavirus and comply with the rules set out by the government. But the mask allows therapists to still get to most of the face so they can apply the same procedures. Waleerat Clinic in Bangkok made re-usable…
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Huge Nike flagship store opens in Bangkok’s Siam Center
A massive Nike flagship store is now open in Bangkok’s Siam Center, with a ‘footprint’ spanning more than 836 square metres of prime retail space in the capital. Intended to showcase Nike’s innovation across multiple product categories, the store offers the brand’s first “Nike By You” in-store customisation service in Thailand. Retailers are now pulling out all stops to lure…
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Major makeover proposed for Pattaya’s Walking Street
… but few are impressed. Images on the Facebook page of Pattaya City reveal plans for a major re-imagining and makeover of one of the resort’s most notable, and notorious, landmarks – Walking Street. Gone are the grotty road, broken pavements and lurid signs and frontages, and in their place will be an easy to navigate walking area fit for…
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Thai Airways may not need to file for bankruptcy in US
Contrary to earlier reports, Thai Airways may not need to seek bankruptcy protection in the United States to avoid seizure of its planes and other assets. A senior official made the announcement after a meeting led by Deputy PM Wissanu Krea-ngam with the struggling carrier’s senior management and the airline’s board. The meeting was to discuss the airline’s rehabilitation plan…
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New rules for Thai cinemas to re-open in Phase 3
As part of Phase 3 of the easing of Emergency Decree restrictions enacted to fight the spread of Covid-19, cinemas will be allowed to reopen on June 1 (though many operators are unlikely to do so as food and drink are their main revenue source and the movie companies say there are currently no new movies to release…) The Centre…
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Foreigners with work permits to be allowed back into Thailand on case by case basis
Foreigners with work permits or permission from the Labour Ministry (and other some other government agencies) will be allowed to enter the country after registration, under phase 3 of the lockdown relaxation, which begins Monday. The Foreign Ministry made the announcement today. The Foreign Ministry has told Thailand’s foreign chambers of commerce about the relaxation. Eligible foreign nationals are invited…
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Murdoch closes all his regional and local newspapers in Australia
Australia’s largest media group, News Corp, has ditched its 100 local and regional newspapers, blaming the collapse of the businesses on a collapse advertising, migration of advertisers online, all made worse by the Covid-19 pandemic. News Corp, owned by Rupert Murdoch, announced on April 1 it was stopping printing of around 60 community newspapers “temporarily”. The collapse will cause the…
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Massage shops, boxing stadiums may be allowed to reopen next week
But we won’t know until tomorrow. Phase 3 of the easing of Covid-19 emergency measures could finally see boxing stadiums, massage parlours, spas, cinemas and tutorial schools allowed to reopen next month. Pubs, bars and nightlife venues are expected to remain closed, well that’s the rumours for now anyway. The deputy director-general of the Disease Control Department says activities and…
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Central buys Family Mart Thailand
Shopping centre operator Central Retail Corporation has bought 100% of Family Mart, one of Thailand’s major convenience store chains, as it “moves forward to develop a new business model to cater to modern consumers”. CRC’s chief executive officer says the acquisition will strengthen Central’s hold on the food market and convenience store business in Thailand, which is burgeoning. Since 2012,…
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Government to provide more financial aid to small and medium-sized businesses
Thailand’s Ministry of Finance has been tasked with coming up with plans for additional financial aid to small and medium-sized enterprises affected by the Covid-19 crisis. Government Spokesperson Narumon Pinyosinwat made the announcement yesterday. “The Ministry of Finance will estimate the budget to be used as well as the loan limit and interest rate, and will present to the Cabinet…
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No role for Transport Ministry in Thai Airways rehab plan
After initially insisting on having a say in the management of the rehabilitation plan for the beleaguered Thai Airways, the Ministry of Transport has conceded that, with its holding in the airline reduced to less than 50%, it no longer has any jurisdiction over what is now a listed public company. Deputy Transport Minister Thaworn Senneam says the struggling carrier…
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Thailand’s economic forecast among Asia’s worst: central bank governor to step down
The governor of the Bank of Thailand will step down when his term ends in September. Veerathai Santiprabhob announced yesterday that he has decided against seeking a second 5 year term for “family reasons.” His departure comes as Thailand sees its economy contracting as much as 6% this year, mostly as a result of the impacts of lockdown provisions to…
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Thai Fruit Golden Month festivals to be held in 8 Chinese cities
8 Chinese cities will host Thailand Fruit Golden Months Festivals as local governments there begin easing lockdown measures and travel restrictions. The director-general of the Department of International Trade Promotion made the announcement yesterday, saying the the festivals will promote Thai fruit exports around China. “The campaign aims to increase the export of durian, mangosteen, longan, mango, rose apple, coconut,…
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Pattaya hoteliers complain about alleged “quarantine kickbacks”
Hoteliers in Pattaya have made an official complaint about a group of people, claiming to be officials who can ensure their properties will be chosen as quarantine centres, are demanding kickbacks of up to 40%. They are urging the government to look into the issue, but officials have been quick to deny any involvement by legitimate authorities. Government spokesperson Narumon…
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New Thai Airways board will nominate 4 ‘professionals’ to execute restructure
Thai Airways first took off as the national airline on May 1, 1960 with its first passenger-carrying flight. 60 years later it’s now poised for a massive dissection as it enters bankruptcy proceedings and restructuring. It’s 60th birthday passed without fanfare or announcement as the pride of the nation scrambles for survival – a victim of a global pandemic, years…
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Thailand’s property market set to experience brokerage megashift
by Bill Barnett It’s clear that Thailand’s real estate sector is expected to undergo a megashift as a result of the Covid-19 pandemic and search for a ‘new normal’, if that’s even possible. That said, one of the country’s leading PropTech groups FazWaz says the crisis has only accelerated dynamic charges to the sector that have been bubbling to the…
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Thai Airways to lay off 30% of its staff
“THAI will stop repaying all debt and start from scratch.” The government announced today that Thai Airways will have to dismiss more than 6,000 employees after entering into receivership proceedings and a debt moratorium of 200 billion baht. The Cabinet decided to push Thai Airways into a bankruptcy procedure under the Bankruptcy Act and ordered the Ministry of Finance to…
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Thai Airways union says it won’t oppose bankruptcy proceedings
“We opposed this position before but after reexamination, we have to show creditors that Thai Airways will genuinely follow the restructuring plan. Including adjustments to the board and staff.” In an abrupt reversal, the president of Thai Airways’ labour union announced yesterday that the union won’t oppose the government’s plan to reduce holdings in the airline and restructure the carrier…
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Thai car production hits 30 year low
As late as last year, the automotive industry in Thailand was the largest in Southeast Asia and the twelfth largest in the world, with an annual output of around 2 million vehicles. But in April this year, Thailand’s car production hit its lowest level in 30 years – just 24,711 units – amid weak global demand, factory shutdowns and widespread…
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Krispy Kreme employee allegedly fired after post about former Thai King
A man was fired from a Krispy Kreme Doughnut Thailand store after making disparaging remarks about a former Thai king. Now some people are boycotting the doughnut business for their actions. But Krispy Kreme executives deny the allegations. ‘Chaiyaporn Sornbudnak’ made a post on Facebook about King Rama IX, who died in 2016. News sites can’t even publish the man’s Facebook…
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Competition Commission warns food delivery companies over unfair practices
The Office of Trade Competition Commission says it’s keeping an eye on the practices of food delivery companies to ensure restaurants that are currently unable to serve food on their premises are not being ripped off. Nation Thailand reports that the OTCC says operators who hike up their commission will face hefty fines of up to 10% of their annual revenue.…
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Hotels across Thailand angered by European tour group’s failure to pay up
Around 173 Thai hotels are appealing to the PM for help after a European tour group reneged on up to 2 billion baht in unpaid bills. Daily News reports that the TUI tour group has left hotels in Phuket, Phang Nga, Krabi and Surat Thani struggling with significant cash flow problems after trying to renegotiate its contract so that it would…
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Thai company steps up to ease condom shortage
A shortage of condoms is one thing. A shortage of condoms while people around the world are stuck at home is another. Since a top condom manufacturer in Malaysia halted production due to the coronavirus pandemic, a Thai company is now stepping up to fill the gap. Thai Nippon Rubber Industry, the country’s biggest condom manufacturer, is increasing production by…
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Thai Airways files for bankruptcy protection
Despite Thai Airways issuing a press statement and taking to social media to deny rumours it intends to file for bankruptcy, various media reports appear to confirm the struggling carrier will file for Chapter 3/1 of the Corporate Reorganisation section of the Bankruptcy Act. This is the Thai equivalent of Chapter 11 bankruptcy in the US. TTR Weekly reports that…
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Tesco addressing migrant worker abuse at Thailand distribution centres
Migrant workers at Tesco’s distribution centres in Thailand are being abused, according to an annual modern slavery statement from the UK-based company. Out of 187 migrant workers interviewed in Thailand, many had issues with unexplained and illegal wage reductions, excessive overtime hours, indebtedness through recruitment fees. Migrant workers at Tesco’s distribution centres in Malaysia had similar problems. Last year, Tesco reported migrant workers…
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Thai Airways should file for bankruptcy: former finance minister
A former Finance Minister is proposing that Thai Airways formally file for bankruptcy, so the troubled national flag carrier can use the protection of the country’s bankruptcy law to begin rehabilitation. Kla party leader Korn Chatikavanich maintains that this is a “golden opportunity” for the financially battered airline to enter administration, under the bankruptcy process, and clear the way for real,…
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Shopping centres, department stores prepare to reopen tomorrow
Department stores, shopping centres and larger restaurants, as well as other businesses across the nation, will begin gradually reopening tomorrow after nearly 2 months of closures due to the Covid-19 pandemic and the national state of emergency declared to fight it. The decision to go ahead with Phase 2 of the easing of restrictions was announced yesterday, but has yet…
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