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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Thailand opens first semiconductor R&D centre
King Mongkut’s Institute of Technology Ladkrabang (KMITL) has inaugurated Thailand’s first comprehensive semiconductor technology research and development centre, setting the stage for the nation’s enhanced role in the global supply chain. The KMITL Academy of Innovative Semiconductor Manufacturing (KAISEM) will function as a central laboratory, uniting experts from diverse fields to collaborate on semiconductor research, innovation, and electronic manufacturing processes.…
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19 firms request SEC approval for investment tokens
Nineteen companies, primarily in real estate and software, notified the Securities and Exchange Commission (SEC) of their intent to secure funding through investment tokens as per the Digital Asset Act. The Deputy Secretary-General of the SEC, Jomkwan Kongsakul, confirmed that these 19 firms are currently in pre-consultation with the commission to explore fundraising via investment tokens. Three companies have already…
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Thailand unveils National Cyber Academy to enhance cybersecurity
The National Cyber Security Agency (NCSA) has introduced the Thailand National Cyber Academy in a bid to enhance cybersecurity literacy across the nation. Caretaker Digital Economy and Society Minister Prasert Jantararuangtong emphasised that the academy will significantly contribute to the development of IT professionals at all age levels, thereby bolstering national cybersecurity. This initiative is part of the second phase…
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EV battery boom: Can AI help Thailand drive to the top?
Thailand is revving up for a major geopolitical boost by focusing on electric vehicle (EV) batteries and auto components, including integrated circuit packaging and testing. According to Taiwan’s Profet AI, the key to speeding up product delivery, slashing costs, and raising standards lies in adopting cutting-edge artificial intelligence (AI) amid ongoing economic headwinds. Jerry Huang, co-founder and CEO of Profet…
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Gold prices hit record US$2,531 amid interest rate cut speculation
Gold prices continue their upward trajectory, reaching a new record high of US$2,531 per ounce yesterday. Investors are closely monitoring signals from the Federal Reserve regarding potential interest rate cuts at its September meeting. Gold brokers attribute the increase to the asset’s status as a safe haven amid ongoing tensions in the Middle East and the Russia-Ukraine conflict. Tanarat Pasawongse,…
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Canada-ASEAN free trade agreement expected by next year
A free trade agreement (FTA) between Canada and the Association of Southeast Asian Nations (ASEAN) is anticipated to be finalised by next year, according to officials from Canada and Thailand involved in the discussions. Surin Thanalertkul, the Canadian embassy trade commissioner, along with Martin Sullivan, senior market development officer of the Canada Indo-Pacific Agriculture and Agri-Food Office (IPAAO), discussed the…
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Thai Airways soars to new heights with RateGain partnership
Thai Airways (THAI) is set to revolutionise its pricing strategies with a multi-year partnership with RateGain Travel Technologies, leveraging its cutting-edge platform, AirGain. This collaboration marks a significant move for the national flag carrier of Thailand as it aims to maintain its competitive edge in the global aviation market. Operating out of its central hub at Suvarnabhumi Airport in Bangkok,…
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Thailand to hold policy rate at 2.5% amid economic uncertainties
The Bank of Thailand (BoT) is poised to maintain the policy rate at a decade-high level of 2.5% during its meeting tomorrow, although analysts anticipate a greater probability of a rate cut later this year due to increasing economic challenges. Kasikorn Research Centre (K-Research), the research arm of Kasikornbank (KBank), concurs with equity analysts that the central bank’s Monetary Policy…
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Digital wallet scheme may switch to cash to boost economy
The Budget Bureau chief confirmed that funds from the digital wallet scheme could be distributed as cash, provided the original goal to stimulate the economy is maintained. Chalermphol Pensoot stated that the distribution of 10,000 baht through the digital wallet scheme could continue, depending on the new government’s policies. “Distributing cash instead of digital money is not an issue, as…
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B.Grimm Power play: Profits surge with plans to expand in future
Multinational conglomerate B.Grimm Power Plc (BGRIM) reported a robust performance with a significant increase in normalised net profit for the first half of this year, alongside ambitious plans to enhance investment partnerships and expand its renewable energy portfolio. BGRIM President Harald Link highlighted that the normalised net profit attributable to the parent company rose by 2.3% year-on-year, reaching 1.09 billion…
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TikTok Shop live commerce surges: 500% growth goes viral
TikTok Shop has achieved over 500% growth in gross merchandise value (GMV) in live commerce over the past eight months, despite economic challenges, the social media platform revealed. The platform plans a substantial investment in discount promotional campaigns to boost domestic consumer spending in the final quarter of this year. This investment will surpass last year’s efforts to compete with…
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Thailand urged to expand tax cuts for rooftop solar panels
The IEEE Power and Energy Society in Thailand is urging the government to expand its new tax reduction scheme for rooftop solar panel installations, aiming to boost the adoption of clean energy. Designed to offer tax incentives to 90,000 households from this year to 2027, the scheme is awaiting final approval within the second half of the year. Households purchasing…
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Thailand’s economy grows 2.3% in Q2, surpassing forecasts
Thailand’s economy roared back to life in the second quarter, fuelled by a surge in consumption, tourism, and exports, according to today’s eye-popping official data. This economic boost has prompted the government to up its growth forecast for the year. The National Economic and Social Development Council (NESDC) revealed that Southeast Asia’s second-largest economy expanded by 2.3% from the same…
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Thai Vietjet takes off: Targets nearly 8 million passengers this year
Low-cost airline Thai Vietjet aims to attract nearly eight million passengers this year by enhancing aircraft utilisation and increasing flights on existing routes, with plans to introduce new Boeing 737 Max jets next year. Thai Vietjet Chief Executive Woranate Laprabang highlighted that the visa-free scheme has significantly boosted demand on international routes, particularly to China. The airline operates flights to over…
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Thai baht rally faces threats amid political drama and bank policy
Thailand’s recent baht rally faces a rocky road as the country dives into political chaos just before the central bank’s policy meeting this week. Since July, the baht has been a star performer, climbing up the ranks as tourism bounced back from a near two-year low against the US dollar in May. But this impressive upswing could be at risk…
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Thailand’s food exports to rise by 8.8%, hitting 1.6 trillion baht
Thailand’s food exports are set to rise by 8.8% year-on-year, reaching 1.6 trillion baht this year, according to the National Food Institute (NFI). This growth is largely attributed to increasing global demand and a decline in raw material prices, said the President of the NFI, Supawan Teerarat. “Raw materials such as tuna, sugar, soybeans, and wheat have seen a price…
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Thailand boosts cloud budget to 1 billion baht amid political shifts
Thailand’s cloud-first policy will remain intact, despite the recent political changes, according to the caretaker Digital Economy and Society (DES) Ministry. The appointment of new Prime Minister Paetongtarn Shinawatra has led to only minor adjustments in government policies. A significant increase in the fiscal 2025 budget for state agencies’ procurement of cloud services has been announced, rising to 1 billion baht…
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Thai Lion Air expands fleet, aims for 7 million passengers
Thai Lion Air is expanding its fleet and reinstating routes in response to rising tourism demand, aiming for 6-7 million passengers and achieving its first post-pandemic profit. Thai Lion Air chief Nuntaporn Komonsittivate made known that domestic and international routes have recovered by 60%, supported by an increase in operational jets to 20 from 11 in recent years. The average…
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Le Pan’s big rise: CPRAM factory to bake up 20% market share
A leading ready-to-eat food manufacturer CPRAM Co Ltd, and owner of the Le Pan Bakery brand under the Charoen Pokphand Group inaugurated a new factory in Chon Buri in a bid to capture a 20% market share in the Thai bakery sector this year. CPRAM President Wisade Wisidwinyoo announced that the new facility, valued at 2 billion baht, boasts a…
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Soaring high: Thai AirAsia’s stunning turnaround in 2024
Asia Aviation (AAV), the proud sole shareholder of Thai AirAsia, unleashed its operational results for the first half of 2024, boasting an impressive financial recovery. The figures are staggering, with revenue from sales and services soaring to 25,279 million baht, marking a 32% year-on-year increase. AAV’s profit from core operations skyrocketed by a jaw-dropping 1,015%, reaching 1,950 million baht from…
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FTI rattled by PM Srettha’s ousting: Investors on edge
The Federation of Thai Industries (FTI) voiced alarm following the Thai Constitutional Court‘s shock decision to remove Prime Minister Srettha Thavisin from office yesterday. Kriengkrai Thiennukul, Chairman of the FTI, warned that the ruling could put a brake on both local and foreign investment as investors rethink their strategies amid the political turmoil. Thailand is already wrestling with major economic hurdles,…
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Mercedes-Benz shifts into high gear with ByteDance partnership
Mercedes-Benz is revving up its tech game by teaming up with ByteDance’s cloud division, Volcano Engine, to explore cutting-edge large language models (LLMs), generative artificial intelligence (AI), and big data. This turbocharged collaboration aims to supercharge Mercedes-Benz’s in-car systems in China with ByteDance‘s advanced LLM technology, giving their virtual assistants a full-throttle upgrade. According to both companies, ByteDance’s LLMs will…
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GMM Music partners with Warner Music Asia in massive deal
GMM Music announced a strategic investment partnership with Warner Music Asia (WMA), one of the world’s leading music industry giants. WMA will invest 370 million baht in cash and provide a minimum guarantee payment of 315 million baht to accelerate GMM Music’s growth and expand the Thai music industry, the largest in Southeast Asia, to a global market. Chief Executive Officer…
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Bridge Alliance and Deutsche Telekom spark a new IoT connection
Bridge Alliance, the heavyweight coalition of telecom giants, has just struck a blockbuster deal with Deutsche Telekom AG, Europe’s telecom titan. This game-changing partnership aims to turbocharge growth in the booming Internet of Things (IoT) sector. With Deutsche Telekom on board, Bridge Alliance’s roster balloons to 35 operators, now covering over 100 markets and reaching more than a billion customers…
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DEPA proposes single window to boost digital tourism in Thailand
The Digital Economy Promotion Agency (DEPA) called for the establishment of a single-window paradigm to streamline business operations for foreigners and bolster the digital-driven tourism industry in Thailand. This initiative aims to unify data exchanges among various state agencies, enhancing the ease of doing business. The proposed single window would function as a platform-as-a-service, operated via a centralised data portal…
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Wallet watch: Thai restaurants hungry for details on digital handout
Restaurant owners are on tenterhooks, waiting for vital details on the government’s digital wallet handout scheme. The Thai Restaurant Association reveals that operators are eagerly anticipating specifics on how they can use and convert digital cash. President Thaniwan Kulmongkol says restaurateurs are frustrated by the delay, as the Commerce Ministry has scrapped the August 5 press conference meant to explain…
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Thailand poised to profit amid US-China trade war
Thailand might be about to cash in on the US-China trade war. According to the Office of Industrial Economics (OIE), the ongoing clash between Washington and Beijing could see a major boost in Thai exports as American buyers look to replace Chinese shipments that are in jeopardy. OIE Director-General Warawan Chitaroon stated that Thailand is a key manufacturing nation in…
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Tesla’s Thailand gamble: EV plans still in the slow lane
Tesla’s investment plans in Thailand remain uncertain as the Government of Thailand awaits confirmation from the United States-based electric vehicle (EV) maker. Government spokesperson Chai Wacharonke highlighted that Tesla is reassessing its global investment strategy, which has been affected by slowing sales growth and intense competition, particularly from Chinese EV manufacturers. Reports suggest Tesla aims to concentrate on its existing…
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Thailand govt addresses TEMU’s impact on local SMEs
Thailand’s Deputy Prime Minister and Minister of Commerce raised concerns over the impact of the global e-commerce platform TEMU on Thai SMEs. Immediate protective measures are being discussed with eight agencies to curb the influx of online goods into the country. Phumtham Wechayachai shared his views on Facebook, stating that while international e-commerce platforms bring opportunities, they also present significant…
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Thailand’s tourism boom: Revenue set to soar to 2.8 trillion baht
Hold onto your sun hats! Thailand’s tourism sector is on the brink of a massive surge in the latter half of the year, with an eye-popping revenue forecast of 1.46 trillion baht. That’s set to push the annual total to a whopping 2.8 trillion baht—up a staggering 25% from last year, according to the Tourism Authority of Thailand (TAT). The…
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