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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Sponsored How one hospital visit in Thailand could cost more than your whole trip
Thailand is a favourite spot for travellers who want to enjoy more while spending less. From cheap street food to low-cost hotels and fun attractions, it’s easy to stretch your budget here. But there’s one thing many people don’t think...
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HADO introduces augmented reality e-sports at SHOW DC, Bangkok
It’s the first physical e-sports centre for Thailand and the largest in Southeast Asia. Bangkok’s SHOW DC is adding to its reputation as a state-of-the-art lifestyle and entertainment destination with the introduction of Thailand’s first physical e-sport centre. Originating in Japan, HADO is the world’s first physical, augmented reality technology, and FoodYum Company is introducing the new phenomenon to Thailand at…
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New Bangkok clinic dedicated to fixing surgery gone wrong
PHOTO: PlastyTalk The director of Yanhee Hospital in Bangkok says 50 million baht is being invested to create a centre dedicated to fixing botched surgical procedures. Dr Supot Sumritvanitcha says Yahnee Hospital will be the first facility in Thailand to offer this service. The Nation reports that the need has arisen due to illegal beauty clinics and other underground facilities…
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Strong interest of foreign investors in Phuket’s resorts – JLL report
PHOTO: Dhawa Phuket “In the Asia Pacific, Phuket is one of the three hotel investment markets in the region that have been highlighted.” Buoyed by the rise of experience-driven travel and an affinity toward locally-inspired hotel offerings, resort assets remain a top target among investors. According to JLL Hotels & Hospitality’s Global Resort Report, resort sales accounted for 20% of…
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Huge potential for electric car industry in Thailand
Have you considered getting an electric car yet? What’s your impediment? Cost? Selection? Too ‘out there’ for you at this stage? Electric cars (EVs) are yet to go mainstream in Thailand as yet. But there is little doubt the popularity of locally built and imported EVs will rise over the next few years. There will be more choice, the cars…
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Thai Airways says it won’t get into a price-war with other airlines
PHOTO: YouTube National carrier Thai Airways says it won’t head down the ‘price-cutting’ route to be competitive in 2020. The struggling airline says, instead, they will focus on building a solid customer base and tap specific route segments. Airline president Sumeth Damrongchaitham says the carrier will continue to recruit stronger marketing partners and estimated that the aviation industry would continue…
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Deputy PM claims US tech giants eager to invest in Thailand
The Deputy Thai PM and government ‘Finance Tzar’ Somkid Jatusripitak claims that Amazon and an unnamed American digital company are both keen to invest in the Kingdom. Somkid says both organisations have enquired about meeting the relevant ministers and have been advised to hold talks with the Finance Ministry and the Ministry of Digital Economy and Society. The Deputy PM…
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Thai Airways’ losses reach 11 billion baht this year
Thai Airways International has announced the turnover of the company and its affiliates for Q3 of 2019, reporting net losses of 4.68 billion baht, a full 27% higher than last year’s result, an additional loss of 994 million baht. In the third quarter of 2019, the company and its affiliates generated revenue of 45.016 billion baht, which is 6.1% or…
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Bangkok’s office rental hot spots
PHOTO: brandinside.asia And the winner is…? A survey carried out by Colliers International (Thailand), a global commercial real estate organisation, reveals that the highest office rent in Bangkok is at Gaysorn Tower on Ratchaprasong Road. The Nation reports that premium office space in the building is leased for 1,600 baht per square metre per month. Coming in at slightly less are spaces…
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SE Asian banks slowly giving way to e-payments and payment apps
PHOTO: starbucks.com That cold, hard cash in your pocket, and the traditional shop-front banks that give it to you, are slowly being phased out and replaced with e-payments. It’s now expected that traditional banks in South east Asia will miss out on as much as US$5 billion, or 14.3% of their payments revenue by 2025. A report says they are…
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Alibaba promoting Thai products to Chinese buyers
PHOTO: Jingsourcing Alibaba, the Chinese e-commerce giant, is hosting a special section on its website dedicated to Thai products. The move has now confirmed by Deputy PM and Commerce Minister Jurin Laksanawisit following a meeting with the Alibaba group at the recent Shanghai Trade Exhibition. “It will be a portal for Thai makers of quality products to access the online markets…
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Strong Thai baht helps Central Group invest overseas
PHOTO: CEO of Central Group, Tos Chirathivat, taking advantage of the strong Thai baht – The Nation Whilst the strong baht is a concern for exporters and foreign tourists visiting Thailand, many Thai businesses are reaping the currency advantage and investing overseas with their strong baht. Tos Chirathivat, CEO of Central Group, has confirmed that the family-owned conglomerate is investing…
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Foreign investment applications rise 69% in first nine months
PHOTO: Bloomberg Thailand continues attracting foreign direct investment, with applications rising 69% in the first nine months of 2019, according the Board of Investment (BOI). Applications in the electronics and electrical sector, and the digital and automotive sectors, represented 131.78 billion baht, or 65% of the total. The value of applications, up to September this year, was 203.37 billion baht,…
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New land tax forces land owners to evaluate their options
PHOTO: SCMP The new Land and Property Tax, which takes effect in January 2020, will be a challenge for the Thai property market, according to the managing Director of CBRE Thailand. In an open report to the media, CBRE says owners of vacant sites will pay significant taxes once the new law comes into effect. Many will try to avoid the…
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Thai exports will suffer from Trump labour rights decision
The Thai export sector will suffer another blow after the US President Donald Trump announced on Friday the suspension of 1.3 billion dollars worth of duty-free trade for certain Thai goods, claiming Thailand has not taken steps to protect the labor rights. In a letter to US House of Representatives Speaker Nancy Pelosi and Vice President Mike Pence, Trump said…
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Kasikorn Bank predicts 4-6% growth in loans for 2020
Despite the expectation of a sluggish economy in 2020, Kasikorn bank aims to grow its loan volume by 4-6% next year. They it say they will achieve this withs emphasis “on services that meet customers’ business and lifestyle needs, effective cost management and using data in lending to retail customers”. Banthoon Lamsam, KBank’s board chairman, says the Thai economy in 2020…
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Another Thai hotel management dispute flares up – The Peninsula Bangkok Hotel
PHOTO: The Peninsula Bangkok Hotel The Hongkong and Shanghai Hotels, which operates luxury brand The Peninsula Hotels, says it will “vigorously defend its rights” to manage The Peninsula Bangkok, following a legal win by the hotel’s Thai shareholder that paves the way for the management agreement to be terminated. And so the open wounds of a business saga are now…
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Thai Airways must modify rehabilitation plan to survive: Airline President
PHOTO: gta5-mods.com “Thai Airways will have to modify its rehabilitation plans to survive in the face of tight competition.” This frank admission by the airline’s president Sumet Damrongchaith. The national carrier is now carrying a total debt of over 2.45 billion baht and losses of more than 20 billion, despite being able to reduce its debts by 48 billion baht…
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Thai Airways under pressure to deliver workable business plan
Thai Airways is coming under more pressure, after being given 30 days to deliver its new rehabilitation and business plans. Thaworn Senniam, the Deputy Transport Minister, gave the instruction yesterday while meeting with the executive of the national carrier for an update on its financial status. He says the business plan must provide clear information on how the fortunes of…
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World Economic Forum says lack of critical thinking in Thailand affecting competitiveness
PHOTO: AFP Thailand’s competitiveness ranking has dropped two places in the Global Competitiveness Index just released by the World Economic Forum (WEC) in Switzerland. The country has dropped from 38 to 40 out of a total of 141 global economies ranked. The WEC claims that a lack of critical thinking in teaching in Thailand, along with its failure to dominate…
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Samsung Electronics flags 56% fall in third quarter profits
“Samsung took advantage of the US trade ban against Chinese rival Huawei.” PHOTO: CNBC Samsung Electronics says it expects operating profits to drop more than 50% in Q3 amid a continued slump in the global chip market. Operating profits for July to September was expected to reach 7.7 trillion won (US$6.4 billion), down 56.2% from a year earlier – this from…
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PropTech company targeting global expansion? FazWaz raises Pre-Series A
FazWaz, a PropTech company focused on making real estate transactions cheaper, simpler and more efficient announced today that is has secured an undisclosed 7 figure USD amount in a pre-series A round led by a Singaporean group. The funding will enable the FazWaz Group to expand its market share in Thailand, and continue its overseas expansion into the UAE. The…
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Draft bill to inspect e-bank transfers over 50,000 baht
The Deputy Government Spokesman Rachada Dhnadirek says the Cabinet has now approved a draft bill proposed by the Anti-Money Laundering Office (AMLO) to inspect electronic transactions exceeding 50,000 baht, in a move to combat money laundering and financing of terrorists. According to international standards, Thailand has been found lacking on 17 issues in relation to preventing money laundering and the…
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18 foreign companies receive licences to operate in Thailand – September
“Since January this year, 155 foreign companies have been granted licences to conduct business in Thailand.” The Thai Department of Business Development has granted licences, during September, to 18 foreign companies to conduct business in Thailand. The director-general Vuttikrai Leewiraphan says most of these companies are from Japan, Singapore and Hong Kong, employing 428 Thais and have an investment capital of…
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Cafe Amazon brewing up a cup of coffee in China
PTT Oil and Retail Business, the owners of the Cafe Amazon brand, has opened its first branch in China. Their goal is to make the coffee chain a global brand, a sort of ‘Thai Starbucks’. The first Cafe Amazon outlet in China is located at a Sinopec petrol station in Nanning of Guangxi, in southern China on the Vietnamese border,…
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Thai duty free giant King Power considers move into UK hotel industry
PHOTO: www.chillpainai.com The CEO of King Power, Aiyawatt Srivaddhanaprabha, says the group is considering a move into the hospitality sector in the UK. Speaking to the press yesterday, Aiyawatt says the idea comes at a time when property prices in the UK and Europe are dropping as a result of the global economic slowdown. “Our deal will be finalised next…
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Phuket social enterprise shop takes the first steps
PHOTOS: stepswiththeera.com A Bangkok-based social enterprise has made its debut in Phuket as it opened a new zero-waste shop, cafe and vocational training centre in Cherng Talay. The shop is run by Steps With Theera and provides a range of plastic substitutes including bamboo straw sets, bamboo toothbrushes and SuperBee wax wraps, alongside a refill station with beauty products from…
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No impact on PTT’s imports from Saudi oil refinery attack: Thai minister
Thai energy minister Sontirat Sontijirawong claims that last Saturday’s attacks on two major oil-processing facilities run by the Saudi-owned company Aramco will not affect oil imports of the Thai petro-chemical giant PTT group. He added that he had learnt from Aramco and related parties that the situation there was under control and the damage was being assessed. The incident would…
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Industry group calls for further cut in Thai policy interest rate
“Thai private sector, recently adjusted downward the export growth projection for this year to 2.9 – 3%.” The Federation of Thai Industries have their hopes set on the Monetary Policy Committee of the Bank of Thailand making another cut in the policy interest rate, currently set at 1.5%. With the US Fed looking to drop its interest rate this week,…
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US Fed poised to cut rates this week
“Hiring, while strong, has slowed. Business investment is moribund. Exports are weakening. And manufacturing – always a vital economic weather vane – is in recession.” by Douglas Gillison Facing a dauntingly uncertain economic horizon and constant criticism, including insults and demands for stimulus from the US president, the US Federal Reserve is set to cut interest rates this week. In speeches…
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Large Thai business feeling the effects of US-China trade war, rise of the baht
So what do Thailand’s big banks say? The ongoing US-China trade war and the appreciation of the Thai baht against other currencies is now starting to impact larger corporates in Thailand. Wasin Saiyawan, senior executive vice president and chief of wholesale banking at Siam Commercial Bank says, that although large businesses are resilient to any impact and their ability to…
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