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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SCB report says political instability will dampen economic confidence
The question over stability of the new government continues to dampen economic outlook, despite the recent sittings of Parliament and the formal election of a new prime minister – this according to a new economic outlook report. The report by the Siam Commercial Bank’s Economic Intelligence Centre says that the new government will face difficulty in balancing the interest of each…
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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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Is Airbnb taking over the Thai hotel industry?
Airbnb is posing a less significant threat to hotels in Thailand than expected, but its influence in the longer term should not be underestimated, according to real estate company JLL Offering new alternatives to travellers, Airbnb is certainly taking some of the wind out of the sails of the traditional hotel accommodation model. However, findings from Jone Lang Lasalle (JLL) shows…
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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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Phuket’s new town planning code will radically change island
Thailand’s Department of Public Works and Town & Country Planning is finalising sweeping new development regulations for Phuket. The island’s MICE industry is expected to be a big winner from the proposed changes (more below). In April the draft regulations were issued for public comment and it is expected the new set of rules will come into effect over the next…
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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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Risland plans new developments in Bangkok and Phuket
PHOTO: Artist impression of the new Cloud Thonglor-Phetchaburi Hong Kong-based property developers Risland Thailand say they will spend 8 billion baht launching five residential projects in Bangkok and Phuket. The investment budget of 8 billion baht is an increase from 5 billion in 2018 and 3 billion in 2017, the first year Risland operated in the country. From June to…
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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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“Very dangerous” Huawei could be part of a US-China trade deal
President Donald Trump has reiterated his complaints against China’s Huawei Technologies but conceded that they could be resolved as part of a negotiated US-China trade deal. Without providing evidence, he went on to call the Chinese telecommunications giant “very dangerous.” The US has virtually banned firms from conducting business with Huawei, the world’s largest telecom manufacturer, citing unspecified national security…
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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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Thailand cuts rubber exports in a four month moratorium
Thailand is cutting rubber exports by 126,000 tonnes next week for a four month moratorium. This is a delay in implementing the supply cut agreement with two other regional producers, according to the Rubber Authority of Thailand. Originally it was agreed that Thailand, Malaysia and Indonesia would cut exports back on April 1, a date agreed by the International Tripartite…
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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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Ultimate parties at The Bay and Beach Club, Patong
Newly built and super stylish, The Bay and Beach Club is the hottest addition to the island’s most favorite resort neighborhood of Patong. Elegant and luxurious with a modern design and spacious rooms, the resort sets the benchmark for beachfront accommodation in Phuket. With a convenient location right on the sands of Patong Beach, a holiday spent at The Bay…
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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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Chinese continue to soak up Thailand’s condo glut
There are man reasons why Thailand is a favourite location for property buyers from Hong Kong and mainland China – the street food and great weather are just a part of the allure. Chinese nationals spent a record 40 billion baht (US$1.25 billion) on Thai properties in 2018, according to the Bank of Thailand. So who is buying Thailand’s condominiums?…
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Thai business sector drops 2019 export projections by 1%
The Thai Chamber of Commerce and Board of Trade are revising down Thailand’s 2019 export growth projections from 3.1% to 2.1%. They say several unfavorable external factors are contributing to the revised outlook. Thai PBS reports that Mr. Sanan Aung-ubonkul, vice president of TCC and BoT, says that, in order to maintain the 3.1% growth projection, the value of monthly…
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How the bike-share start-ups fell over
They were awful to ride and were the result of an even more toxic start-up culture in China. A few years ago the bike-sharing craze hit the tourist island of Phuket. It arrived amongst much flourish and ceremony. A year later the bike-sharing company bailed out. It was the same in many targeted tourist zones around the world. At the…
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