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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Phuket pushes for first dedicated hospitality college
PHUKET: With Prime Minister Yingluck Shinawatra’s arrival on Phuket for the Cabinet meeting tomorrow, more details of the proposed transformation of Thalang Vocational College into Phuket’s first dedicated hospitality and tourism college have been unveiled. The college’s director, Suthep Yongyut, told the Phuket Gazette that the plan is to be proposed to the Cabinet tomorrow for budget approval of 300…
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Phuket Business: Andaman motor show drives sales; Limited companies spike
PHUKET: THE 14th Andaman Motor Show, organized last week at HomeWorks, opposite Central Festival Phuket, concluded with one of its most vibrant years in car sales. The six-day event, this year under the theme “Summer on the Beach”, ended on Wednesday. “We don’t have final figures for the overall number of car loan applications yet, but I have to admit…
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Phuket Business: SET in the city
PHUKET: Investors in Phuket became privy to invaluable financial advice at the island’s inaugural investment extravaganza hosted by the Stock Exchange of Thailand (SET) recently. Organized in collaboration with the Phuket Chamber of Commerce, Phuket Federation of Industries and the Phuket Bankers Association, it was the first time for “SET in the city” to be held in Phuket. The event…
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Phuket Business: APSA gears up for boat show
PHUKET: ASIA-Pacific Superyacht Association (APSA) is gearing up for the Phuket International Boat Show (PIMEX), to be held at the award-winning Royal Phuket Marina from March 29 to April 1. The leading consumer boat show in Asia, PIMEX will feature the largest in-water boat display with more than 50 boats representing leading brands from around the world. The line up…
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Phuket Business: Sansiri sales on the up
PHUKET: Amid an oversupplied and flooded real estate market, many new developers in Phuket are struggling to close project sales. In contrast, Bangkok based mega developer Sansiri Plc has received promising feedback from buyers on the island. In the five months since taking on Phuket, the Bangkok giant has invested nearly 2.7 billion baht (approx US$ 90 million) in four…
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Phuket Business: Krabi shaping up as an oil hub
PHUKET: Agricultural development initiatives look to position Krabi province as a new regional and world hub for the production, supply and retail of palm oil.When the Asean Free Trade Agreement (AFTA) comes into full effect by 2015, traders and merchants from Malaysia, Indonesia, the Philippines, Vietnam, Cambodia, Myanmar and Laos will enjoy tariff-free trading of most Asean-produced goods and commodities,…
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Phuket business: Tax filing deadline approaches
PHUKET: For anybody who generated income in Thailand last year – regardless of where or how they were paid – the personal income tax filing deadline is March 31. In this two-part series, the Phuket Gazette will outline the need-to-know basics for filing personal income tax in Thailand. First, we will cover taxable income, deductions and tax certificates. In the…
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Phuket business: A speculative investment
PHUKET: I remember as a young kid growing up in the US often seeing bumper stickers on cars with slogans about freeing Burma. When I was I first planning to move to Phuket, Thailand I still had no idea where Burma was, as the maps now showed some country I had never heard of called “Myanmar” bordering the Kingdom to…
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Phuket business: New tourism and hotel college enrolls for May
PHUKET: In response to swelling demand in the island’s booming services industry, Thalang Technical College will be developing into the Phuket Hotel and Tourism College. The move was announced earlier this week by the college’s director, Suthep Yongyuth.“We first opened in 1997 as the Phuket Technical College number two, and then changed our name to Thalang Technical College in the…
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Phuket gears up for PIMEX 2012
PHUKET: The Phuket International Boat Show (PIMEX), to be held March 29 to April 1 at the award-winning Royal Phuket Marina, is set to showcase top global boat brands. The leading consumer boat show in Asia, PIMEX has the largest in-water boat display. More than 50 boats representing the leading boat brands from around the world, will be on display.…
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Phuket workers have new hospital option under social security
PHUKET: The Phuket Provincial Administration Organization (OrBorJor) Hospital is accepting applications from workers who want the new hospital to be their primary healthcare provider under the Social Security insurance scheme. The OrBorJor hospital, located on the east side of Phuket Town, has been actively courting new patients since its opening in May last year. Darawan Jinda, who heads the hospital’s…
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Phuket business: Indonesia – Asia’s new rising star
PHUKET: For many of us expats in Phuket, our Asian paradise has sheltered many of us from the financial woes being experienced back home by family and friends. Asian markets, though not totally immune to European debt levels and the impending push for White House power, have been fairly resilient over the last few years and have provided steady economic…
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Phuket business: Alien laborer deadline gets extension
PHUKET: More than 20,000 unregistered migrant workers in Phuket now have until mid-June to register with the government, thanks to a Cabinet resolution earlier this month extending the deadline by five months. The extension gives employers time to obtain two-year work permits for unregistered alien workers from Burma, Laos and Cambodia, said Phuket Provincial Employment Office Chief Noppadol Ployudee. Workers…
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Phuket business: Multi-billion baht deal signed
PHUKET: Ruea Yacht, the luxury yacht building division of Phuket-Bangkok based Yacht Solutions, has joined forces with Northrop and Johnson – one of the world’s largest independent yacht brokerage firms. Highlighting the increased demand, supply and overall growth in Thailand’s superyacht industry, the new partnership will generate billions for the local economy. Director of Northrop and Johnson said: “Over the…
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Phuket business: LED systems to dim costs
PHUKET: Businesses and private homes looking to reduce overheads and increase marketing and profit potential can benefit by tapping into the latest LED powered solutions. Osram-Traxon (Thailand), have partnered with SAPL-CAL Solutions and Boonsoong Technology Co Ltd to showcase its latest products at the Phuket Life and Drive Show, scheduled for March 28 to April 2 at the Homeworks complex…
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Phuket business: Axiom legal financing segregated portfolio
PHUKET: A little while back my article about litigation funding in general was published and at the time I was kind of sitting on the fence about the asset class. One of my main hang-ups had been with the fact that generally the access to it that I had seen up to that point had been via structured notes, which…
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Phuket Gazette: Thai ‘wellness tourism’ to scoop up 350bn baht: TAT
PHUKET: The Thai government is projecting that the healthcare sector will earn a total of 350 billion baht (US$11.5bn), contributing much to the government target of becoming a “World Class Health Provider” by 2014. The projection covers the period of a five-year campaign from 2010 to 2014. The strategy follows Thailand being dubbed the “Spa Capital of Asia” in 2008,…
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Tourists from Taiwan to Phuket to double in 2012: PTA
PHUKET: The number of Taiwanese tourist arrivals in Phuket this year is expected double last year’s figure, a senior government official has announced.Paiboon Upatising, currently caretaker president of the Phuket Provincial Administration Organization (OrBorJor), said that the island can expect up to 100,000 Taiwanese arrivals in 2012 – compared with 50,000 last year.The projections were announced following the “Phuket Road…
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Illegal Phuket migrant workers get five-month reprieve
PHUKET: More than 20,000 unregistered migrant workers in Phuket now have until mid-June to register with the government, thanks to a Cabinet resolution earlier this month extending the deadline by five months. The extension gives employers time to obtain two-year work permits for unregistered alien workers from Burma, Laos and Cambodia, said Phuket Provincial Employment Office Chief Noppadol Ployudee. Workers…
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Phuket tourism shrugs off Bangkok blasts: PTA
PHUKET: The recent bombings in Bangkok have not resulted in cancellations of hotel bookings in Phuket and the island’s tourism industry prospects for 2012 remain strong, the Phuket Tourist Association (PTA) has announced. Barring a “major incident”, Phuket can expect to have strong tourist arrival figures from both Europe and Asia throughout 2012, PTA President Jirayus Somboon told the Gazette.…
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Phuket business: Local suppliers to extend reach
PHUKET: Red Bull’s national distribution arm is looking to capitalize on local supply markets, a strategy which could extend the reach of Phuket-sourced products into greater national, regional and global markets. Durbell, a key logistics affiliate of the Red Bull Beverage Company (the producers of Krating Daeng) aims to diversify its offerings and keep ahead in the expanding wholesale and…
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Phuket business: FC Phuketonomics: ball business
PHUKET: Despite having nearly been dissolved due to swelling debts, FC Phuket 1688 Co Ltd generated the fifth highest turnover out of 18 Division 1 clubs, statistics released by the Thai Premier League (TPL) have revealed. Concluding last month, the 2011-2012 season’s tallied receipts show that the Southern Sea Kirin had generated more than 2.8 million baht, which equates to…
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Phuket business: Skyscrapers and economic woe
PHUKET: There’s an economic-cycle theory based on the link between the building of skyscrapers and economic strife. Guess what it’s called? Correct: the Skyscraper Index. While many trends and theories these days are based on cycles, this economical theory is based on the completion of skyscrapers. So what is this theory and does it have any credibility? Let’s first unravel…
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Chinese government eyes interest in Phuket light rail
PHUKET: A state enterprise from the People’s Republic of China is the latest party to express interest in investing in Phuket’s light-rail project.An administration and engineering team from Mashucon Co Ltd announced the news in a meeting with Phuket Governor Tri Augaradacha at Provincial Hall yesterday afternoon.Executive Chairman Nopphon Tansakul told the governor that his team came on behalf of…
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Phuket Business: Medical tours vital to economy
PHUKET: Medical tourism in Phuket is flourishing and contributing greatly to the local economy, a representative from one of Phuket’s major international hospitals has said. Speaking exclusively with the Phuket Gazette, Peter Davidson, assistant manager of international services at Phuket International Hospital, said that “the number of people coming to Phuket for dental work and plastic surgery continues to expand…
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Phuket flower shops report blooming sales
PHUKET: Flower shops in Phuket are doing brisk business today, St Valentine’s Day 2012. Many flower shops report record orders for floral arrangements, from both inside Phuket and off-island. Classic red roses remain the most popular items among the adults, while teddy bears and chocolates are increasingly popular among teenagers. Flower shops in Phuket Town are displaying special flower arrangements…
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Phuket Business: “Q day’ is fast approaching
PHUKET: Many expatriates in Phuket with UK pensions have held off on transferring them offshore due to the relative infancy of the industry and the fact that there has been little guidance on some of the more technical aspects relating to the transfers from HM Revenue and Customs (HMRC). That is all changing as the new legislation introduced recently in…
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Phuket Business: Get ready for higher petrol prices
PHUKET: Now that we are fully into the swing of 2012, the Christmas tradition of goodwill to all men seems a lifetime away. When I get out of bed and go on my now regular morning beach run in Phuket – yes, my New Year’s resolution is still being adhered to – global problems seem to be a million miles…
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DaVinci charters steps forward for 2012 Bay Regatta
PHUKET: It’s not unusual when marinas and yacht brokers cross over into the restaurant business, but co-sponsor of the Bay Regatta 2012, Phuket’s iconic Italian restaurant DaVinci – scored a first when they crossed in the opposite direction. Sponsoring yachting and yacht racing is one thing – and DaVinci has shown other island businesses how that should be done –…
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PIMEX boosts marine-triangle tourism
PHUKET: At the forefront of Asia’s growing marine leisure industry, Phuket island is one of the top five cruising destinations in the world, and lies in the heart of the emerging ‘Andaman Marine Triangle’. Consisting of Phuket, Phang Nga and Krabi provinces, the Andaman Marine Triangle is home to some of the most stunning sailing grounds in the world. Indeed,…
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