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 Weekend road trip routes across Thailand [2025]
Weekend road trips in Thailand are a great way to enjoy beautiful scenery, local culture, and quick getaways without much travel time. From winding mountain routes in the north to coastal drives in the south, every journey brings new sights...
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Thailand invests 8 billion baht for AI and EV industry research
Thailand Science Research and Innovation (TSRI) earmarked an 8 billion baht investment to enhance the nation’s pool of young researchers, supporting key S-curve industries like artificial intelligence (AI), electric vehicles (EVs), and quantum technologies. The fiscal 2025 budget includes plans to prepare 100,000 employees for the semiconductor industry, leveraging opportunities arising from geopolitical conflicts. Chairman of the National Commission on Science,…
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Thailand takes flight with airlines to boost tourism in 2024
The Tourism Authority of Thailand (TAT) is soaring to new heights, actively courting partnerships with a sky-high count of 11 international airlines to elevate both burgeoning and established markets in the latter part of this year. With the long-haul market expected to fly in at least 770 billion baht from a soaring flock of 10.8 million foreign visitors in 2024,…
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Thailand’s aviation hub dreams delayed by global supply issues
Thailand’s ambition to become the leading aviation hub in the region by 2030 may face significant delays due to global supply chain disruptions, according to the International Air Transport Association (IATA). The country needs to remove unnecessary regulations and accelerate digitalisation efforts to improve aviation efficiency. IATA‘s Director-General, Willie Walsh expressed his views at the group’s annual general meeting in…
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Gold prices expected to rise amid Federal Reserve rate cuts
YLG Bullion International advises investors to accumulate gold as prices consolidate, with expectations of a rise in the medium to long term, particularly after anticipated interest rate cuts by the Federal Reserve later this year. Global gold prices have increased by 13.2% this year as of today, driven by high demand from central banks and institutional investors amidst tightening supply,…
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Local governments digging deep into land tax challenges
Local governments face a significant challenge in evaluating underutilised land plots to determine the appropriate tax burden under the land and building tax, according to finance permanent secretary Lavaron Sangsnit. Lavaron noted that the tax law, effective for five years, is currently under review for potential amendments. A key issue under scrutiny is the enforcement and interpretation of land utilisation.…
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Chiang Mai to become digital startup hub with new visa scheme
Chiang Mai is poised to become a digital startup hub in Southeast Asia, with the government pledging support to achieve this goal, Prime Minister Srettha Thavisin announced during a visit to the northern province yesterday. PM Srettha highlighted Chiang Mai City as an established haven for digital nomads and one of the world’s leading creative cities. “Late last year, Tim…
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Thai car sales plunge; luxury market hit amid economic woes
Mercedes-Benz (Thailand) reports a significant decrease in domestic car sales, affecting even the typically robust premium car sector. The struggling Thai economy and banks’ stricter auto lending policies due to high household debt, are impacting car manufacturers across all sectors. This includes the luxury market, which generally leverages higher purchasing power. “The automotive industry has been hard hit by this…
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3,900 Thai community radio stations to cease under new digital scheme
Approximately 3,900 community radio stations will be forced to cease broadcasting after this year due to the transition from analogue to a licensing regime and a digital audio broadcasting (DAB) scheme. The National Broadcasting and Telecommunications Commission (NBTC) has been working on the digital radio regulatory framework, aiming to implement it by September. This significant change is set to happen…
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Bangkok Airways, SO/ Maldives eye growth in tourism boom
Bangkok Airways and luxury resort SO/ Maldives are optimistic about expanding their business in the Maldives, a popular destination among Thai tourists. The Maldives achieved a significant milestone in tourism last year, welcoming over 1.8 million visitors, the highest number in a year, according to the Maldives Marketing and Public Relations Corp. Bangkok Airways resumed flights to the Maldives in…
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Baht hits two-week high but faces long-term depreciation risks
The Thai baht surged to a two-week high yesterday, surpassing 36.5 to the dollar, marking a strong short-term gain. However, Kiatnakin Phatra Financial Group (KKP) has issued a cautionary note about the potential depreciation of the currency, attributing it to persistent structural issues in Thailand’s economy. Yesterday, the baht led gains among Asian currencies, appreciating by 0.3% to its highest…
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How Thailand’s consumer behaviour is being affected by cryptocurrency
Many investors believe that cryptocurrencies have significant potential as investment assets. To cater to this interest, financial products related to traditional asset classes have been introduced in various countries. These products include futures contracts, exchange-traded funds (or more commonly referred to as ETFs), and micro futures contracts, which allow for smaller-scale investments. Furthermore, several major banks now offer their clients…
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Extend-a-signal: NT tunes in for spectrum band extension
National Telecom (NT) is poised to seek an extension from the National Broadcasting and Telecommunications Commission (NBTC) to continue utilising three spectrum bands beyond their expiration in September 2025. The requested extension, spanning 90 days, aims to ensure a seamless transition for NT’s current customers to alternative bands. NT intends to maintain operations on the 850MHz, 2100MHz, and 2300MHz bands,…
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Peso power play: CIMB targets record 75 billion in loans for 2024
CIMB Bank Philippines, a subsidiary of Malaysia’s CIMB Group Holdings Bhd, announced an ambitious lending target of over 75 billion pesos (US$1.28 billion) to Filipino customers this year. This represents a 23% increase compared to 2023, according to the bank’s chief executive officer. Chief Executive Officer Vijay Manoharan disclosed the bank’s plans during a press conference, stating that CIMB Bank…
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Vintage vibes: Public hearing revs up classic car imports
The Foreign Trade Department has initiated a public hearing on a proposed amendment to a notification that would allow the import of certain classic cars for promotional events. The department’s Director-General, Ronnarong Phoolpipat, announced that a new notification has been drafted for the Commerce Ministry concerning this category of used vehicles. The amendment addresses restrictions on specific used vehicle imports,…
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SET unveils plan to boost foreign and family business investments
The Stock Exchange of Thailand (SET) unveiled a strategic business plan targeting foreign industries operating in Thailand and family businesses, aiming to boost market capitalisation. SET executives highlighted the shift in investment trends, particularly post-pandemic, with technology stocks rising as traditional businesses adapt to the digital age. SET officials noted that the Thai market has faced trust and confidence issues…
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Thai export growth set to miss target amid global challenges
The anticipated growth in Thai exports this year is poised to fall short of expectations due to a mix of external and internal hurdles, as outlined by a recent assessment from a private sector panel. During its recent meeting, the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) upheld its projection for export growth in 2024, estimating it to…
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Thailand predicts 2.7% growth amid slow export recovery, high debt
Thailand’s economy is experiencing a gradual recovery, with projected growth of between 2.2% and 2.7% this year, according to a recent announcement by a prominent joint business consortium. The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB), which includes key stakeholders from these sectors, has maintained its previous growth forecast. Exports, a crucial component of Thailand’s economic engine, are…
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New tax deductions approved to boost secondary city tourism
The Cabinet yesterday approved measures aimed at boosting tourism in secondary cities during the low season. Deputy Finance Minister Paopoom Rojanasakul announced that the new measures target both companies holding seminars and individuals travelling for leisure. Companies can now deduct expenses from corporate income tax for seminar rooms, accommodation, transport, and other related costs for domestic seminars held for employees,…
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Political uncertainty may drag SET index lower, say analysts
Political uncertainty is poised to weigh heavily on the Stock Exchange of Thailand (SET) throughout June, with three legal proceedings involving Prime Minister Srettha Thavisin, former premier Thaksin Shinawatra, and the opposition Move Forward Party (MFP) expected to push the index lower than anticipated, analysts report. CGS International (Thailand), a subsidiary of China Galaxy Securities, revised its year-end SET index…
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VAT on all imports over 1 baht gets Cabinet approval
A proposal by the Ministry of Finance to impose value-added tax (VAT) on all imported goods valued at over 1 baht has received approval in principle from the Cabinet. This measure aims to curb the influx of inexpensive imported goods, particularly from China, that are saturating the domestic market. Government spokesperson Chai Wacharonke announced that the new threshold will be…
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Thailand to introduce carbon tax by 2025, oil tax burden unchanged
The Excise Department plans to introduce a carbon tax by 2025, with the overall oil tax burden expected to remain unchanged. This move aims to align with the Global Warming Act, which is set to be enacted in 2025. According to the Director-General of the Excise Department, Ekniti Nitithanprapas, the department has examined global practices for implementing a carbon tax…
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Thai digital skies to light up for OneWeb’s Internet services launch
OneWeb’s broadband Internet services, facilitated by low Earth orbit (LEO) satellites, are anticipated to launch in Thailand by the fourth quarter of this year, marking a significant step in expanding digital connectivity across the nation. In a collaborative effort, OneWeb has teamed up with state telecom enterprise National Telecom (NT) to offer these services. NT provides the necessary gateway station…
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Thai govt unveils tax measures to spark tourism surge
The Thai Cabinet today approved a series of tax measures aimed at boosting domestic tourism during the low season, announced the deputy finance minister. These measures will be in effect from May to November and include tax deductions for companies organising conventions and seminars, according to Paopoom Rojanasakul. Further initiatives target increased domestic travel to secondary cities by allowing income…
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AoT to create subsidiary for managing small state airports
Airports of Thailand Plc (AoT) is considering the establishment of a subsidiary to manage small airports that are currently under the financially troubled Department of Airports. This initiative aligns with the government’s strategy to stabilise state finances. AoT President Kirati Kijmanawat announced today, June 4, that the proposed subsidiary would operate directly under AoT, with the parent company and Vayupak…
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Brewing success: Thai coffee market percolates with growth
The Thai coffee market is experiencing significant growth, driven by evolving consumer lifestyles and increased demand for both domestic consumption and export processing. The Director-General of the Trade Policy and Strategy Office, Poonpong Naiyanapakorn underlined Thailand’s potential to process raw coffee into finished coffee products for export, a key value-adding practice. From 2021 to 2023, the Thai coffee market expanded…
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La Niña weather phenomenon likely to further fuel food inflation
The Commerce Ministry is closely observing the transition from the El Niño to La Niña weather phenomenon, which could impact Thailand’s inflation, especially concerning food items like fresh vegetables and fruit due to their water sensitivity. Director-General of the Trade Policy and Strategy Office (TPSO), Poonpong Naiyanapakorn stated that data from the Thai Meteorological Department (TMD) shows that El Niño…
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Thailand’s tech exports face threats as Vietnam takes lead
Thailand’s export sector, which contributed 54.5% of GDP last year excluding services, faces potential disruption due to rapid technological advancements. Vietnam has surpassed Thailand in exporting high-tech products, emerging as a key production base for the downstream electronics industry. The global market’s recovery, particularly in computers, semiconductors, and smartphones, has driven this demand. Thailand mainly exports intermediate electronics products like…
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Thailand’s GPSC secures 1,050MW solar project in India
The power generation division of Thailand’s PTT Plc, Global Power Synergy Plc (GPSC), is making significant strides in expanding its renewable energy footprint in India. Its subsidiary, Avaada Energy, has secured a contract to construct a massive 1,050-megawatt solar farm aimed at boosting clean energy production, reducing carbon emissions, and serving millions in India. Avaada Energy emerged victorious in a…
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Government to advance 47 billion baht in PPP projects this year
Government investment projects under public-private partnerships (PPP) are set to advance this year, nearing the target of 47 billion baht, as projected by the State Enterprise Policy Office (Sepo). Sepo’s director-general, Tibordee Wattanakul, mentioned that the PPP investments are expected to alleviate the government’s fiscal responsibilities. By February, the PPP Committee had sanctioned 18 billion baht for fiscal 2024, focusing…
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Ethereum ETFs approved, crypto prices to surge this year
Cryptocurrencies are having a golden year, with the US Securities and Exchange Commission (SEC) recently approving eight funds set to launch spot Ethereum exchange-traded funds (ETFs). Analysts predict the bull run will persist into the second half of the year, driven by strong interest from institutional investors. The SEC’s approval on May 23 for rule changes allowing ETFs to buy…
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