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 to reduce out-of-pocket medical expenses in Thailand?
Managing medical expenses in Thailand is important as healthcare costs continue to rise. The country’s healthcare system includes both public and private options, but even with the Universal Coverage Scheme (UCS) for citizens, many still face high out-of-pocket medical expenses....
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Thai publishing ‘chapter’ of decline amid spending woes
The Thai publishing market faces a predicted decline this year due to economic challenges affecting consumer spending, according to the Publishers and Booksellers Association of Thailand (PUBAT). However, booksellers remain optimistic, identifying potential growth in niche markets. Nattakorn Vuttichaipornkul, Vice-President of Internal Affairs at PUBAT, reported a modest decrease in book sales during the first half of the year. “The…
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Thailand’s labour woes: A ‘lawsuit’ of unexpected disputes
Labour disputes in Thailand have surged, contrary to the country’s generally non-litigious reputation. According to the Thai Office of the Judiciary’s Annual Statistical Report, more than 10,000 labour dispute cases have been recorded annually over the past five years. Employers in Thailand frequently face claims of unfair termination, a significant source of financial and operational issues for both local and…
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Temu enters Thai market, intensifies e-commerce competition
Temu, China’s e-commerce giant, recently entered the Thai market, stirring up competition across both online and offline sectors in Thailand. The move, according to industry experts, is set to intensify cross-border competition, challenging existing players and local businesses alike. Thailand’s e-marketplace has long been dominated by foreign giants like Lazada (owned by Alibaba), Shopee (under Singapore’s SEA), and China’s TikTok…
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Thailand emerges as AI and health tech innovation hub
Venture capitalists are intensifying their focus on investment opportunities in startups centred around artificial intelligence (AI), transformative digital healthcare, and the burgeoning pink technology sector. According to industry experts, Thailand’s robust healthcare, agriculture, and tourism industries, coupled with local companies’ consistent investment in innovation, position the country as a formidable launchpad for startups. Major firms are propelling innovation by investing…
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PM Srettha orders Temu to comply with Thai tax laws
Prime Minister Srettha Thavisin directed the Revenue Department and the Ministry of Digital Economy and Society (DES) to ensure the new Chinese online retailer Temu adheres to Thai regulations and meets tax obligations. The directive aims to address concerns from local industries about the potential influx of inexpensive Chinese products affecting Thai manufacturers. The introduction of Temu, a Chinese e-commerce…
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Cotti Coffee gains ground in Thailand with affordable menu
Cotti Coffee, a popular Chinese coffee franchise, is making waves in Thailand with its affordable menu starting at just 55 baht. The franchise currently operates eight branches in Bangkok, contributing to the growing presence of Chinese brands in the country. Chinese products are becoming increasingly common in major Thai cities, with a variety of items such as clothing, food, and…
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Startups to receive up to 50 million baht from BoI initiative
Startups with significant growth potential in targeted industries will receive financial backing, up to 50 million baht each, through a new initiative launched by the Board of Investment (BoI). This initiative, known as the Matching Fund, operates under a larger fund managed by the Competitiveness Enhancement Board, chaired by Finance Minister Pichai Chunhavajira. The Matching Fund aims to collaborate with…
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Bank of Thailand increases outflow limit, eases forex
The Bank of Thailand (BoT) is set to ease foreign exchange regulations further to bolster business operations and enhance the country’s foreign exchange ecosystem. This strategic move aims to provide long-term benefits to Thailand’s economy. The central bank plans to introduce additional relaxations in the fourth quarter, marking the third phase of its foreign exchange ecosystem initiative. This phase will…
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Ford Thailand urges support for ICE car sector amid EV rise
Ford Thailand is urging the government to extend support to companies in the internal combustion engine (ICE) car segment, particularly motorcycle manufacturers, who are struggling to adapt to the rapid expansion of the electric vehicle (EV) market. Despite the implementation of measures such as tax cuts and subsidies to promote the EV industry, ICE sector operators have yet to see…
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AIS, Oracle Alloy unveil Thailand’s first hyperscale cloud service
Advanced Info Service (AIS) announced a partnership with Oracle Alloy to introduce Thailand’s first locally owned and operated hyperscale cloud infrastructure services. This significant collaboration aims to enhance the country’s cloud and artificial intelligence (AI) landscape, currently valued at around 100 billion baht. The newly formed partnership, confirmed to involve a joint investment of up to 8 billion baht by…
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Thailand’s bike boom hits a brake with debt drag
Thailand’s motorcycle manufacturing output is expected to continue its decline in the second half of the year due to high household debt and a weak economy, according to the Federation of Thai Industries (FTI). The FTI Vice-Chairman and spokesperson for the federation’s Automotive Industry Club, Surapong Paisitpatanapong, commented on the challenging economic conditions. He noted that while the motorcycle industry…
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Krungthai Bank loan growth: No contraction in confidence
Krungthai Bank (KTB) remains confident in meeting its loan growth target for this year, despite a lending contraction during the initial six months. The bank focuses on achieving a 3% total loan growth throughout 2024, according to its President, Payong Srivanich. The Thai economy’s uneven recovery in the first half of the year and persistent uncertainties in the latter half…
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What is the current state of Thailand’s casino legislation, and how likely is it to change in the near future?
Thailand stands on the brink of a potentially transformative shift in its approach to gambling. For many years, casinos have been completely banned in the country, reflecting a conservative stance deeply rooted in cultural and legal traditions. However, recent developments suggest that Thailand might be on the path to legalising and regulating casino operations, marking a significant departure from its…
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Thai rice exports forecasted to drop below 8 million tonnes in 2025
Thai rice exports are projected to fall below 8 million tonnes next year, facing several challenges that threaten their competitiveness. Key issues include insufficient research and development (R&D) in rice varieties, a rising global supply of rice, and the potential lifting of India’s rice export restrictions by the end of the year. Charoen Laothamatas, president of the Thai Rice Exporters…
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Thai baht may appreciate to 35.30 per dollar amid BoJ rate hike
The Thai baht could experience further appreciation to 35.30 per US dollar in the short term, following a four-month high of 35.72 reached early yesterday. Political instability and deteriorating fiscal conditions due to the government’s populist policies, however, may hinder a significant rebound of the Thai currency. Asian currencies, including the baht, surged after the Bank of Japan (BoJ) raised…
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Thailand targets 8 million Chinese tourists in 2024 amid diverse strategies
The Tourism Authority of Thailand (TAT) has set an ambitious target of 8 million Chinese tourist arrivals for 2024 and is diversifying its focus to niche markets with significant purchasing power, such as young travellers, small meeting groups, and caravan tours. “Demand among Chinese is not enough to entice Chinese airlines to increase flights to Thailand,” said Nonglux Yooyendee, director…
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Thailand to export 8.2 million tonnes of rice amid strong demand
Thailand anticipates exporting 8.2 million tonnes of rice this year, an increase from the previously forecasted 7.5 million tonnes, driven by strong demand from major markets and a depreciating baht, according to the Commerce Ministry. Ronnarong Phoolpipat, Director-General of the Foreign Trade Department, reported that rice exports in the first half of the year reached 5.08 million tonnes, valued at…
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Toyota’s drive for success: Automaker zooms past Volkswagen
Toyota Motor Corp announced today that it sold 5.16 million vehicles globally in the first half of this year, surpassing Volkswagen AG to maintain its position as the world’s top automaker for the fifth consecutive year. Despite retaining the top spot, Toyota’s global sales from January to June, including those from its subsidiaries Daihatsu Motor Co and Hino Motors Ltd,…
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SCB X delays end of Robinhood food delivery service
Siam Commercial Bank (SCB) X PCL has made a significant decision to delay the termination of its Robinhood food delivery service, initially planned for the end of this month. The company yesterday, July 29, submitted a formal request to the Stock Exchange of Thailand (SET) to extend the service’s operation. Manop Sangiambut, Chief Financial Officer of SCB X, revealed the…
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Experts seek public backing for 2024 SMR nuclear plan
Energy experts urge a shift in public perception of nuclear technology to support the Energy Ministry’s push for small modular reactor (SMR) projects in the 2024 power development plan. SMRs, defined by the International Atomic Energy Agency (IAEA) as nuclear power technology with capacities up to 300 megawatts per unit, offer about one-third of the generating capacity of traditional nuclear…
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Effective mentorship fuels Gen Z’s career growth and innovation
Generation Z’s growing presence in the workforce necessitates innovative strategies to support their development. Mentorship programmes have emerged as a powerful tool, creating dynamic and mutually beneficial relationships across generations. These programmes address Gen Z’s unique professional aspirations, fostering continuous learning and growth. Effective mentorship programmes for Gen Z extend beyond traditional models where senior employees impart wisdom to junior…
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Thailand secures 98.5 billion baht for data centres, cloud projects
Government backing for investments in data centres and cloud service projects in Thailand aims to position the nation as a digital economy hub, according to government spokesperson Chai Wacharonke. Prime Minister Srettha Thavisin considers these investments crucial for the digital economy’s growth and believes they will establish Thailand as a significant investment destination for the international community. Transforming Thailand into…
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Thailand’s walking tourism boosts local culture, sustainability
Walking tourism is increasingly popular as travellers seek to immerse themselves in local cultures and explore neighbourhoods more intimately. The United Nations Tourism Organisation (UNWTO) notes that walking tourism fosters a deeper connection with local communities, nature, and culture. This growing trend aligns with the global push for sustainable tourism and satisfies the rising demand for outdoor activities. However, the…
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Thailand’s steel sales drop 8.7% amid cheap Chinese imports
Thailand’s steel industry faced sluggish sales in the first five months of this year due to reduced spending on construction projects and the influx of cheap imports from China, according to Tata Steel (Thailand) Plc (TSTH), a subsidiary of India’s largest steelmaker. Long steel product consumption fell by 8.7% year-on-year to 2.47 million tonnes as stated by Tarun Kuma Daga,…
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New fund to boost Thai stock market by 90 points this year
A significant new fund is set to begin investing in the Stock Exchange of Thailand (SET) in the latter half this year, potentially boosting the index by approximately 90 points, according to Bualuang Securities (BS). The Vayupak Fund, which promises a minimum return of 3%, is anticipated to start with a minimum value of 100 billion baht. Around 90 billion…
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What is the best property to invest in Thailand in 2024?
Q1 2024 has brought a mixed scenario for Thailand’s property market. Transaction volumes have dropped, yet there’s a modest rise in both property prices and annual yields. Amid the ongoing economic recession and market slowdown, Thai authorities are exploring legislative reforms to attract foreign investment. It’s crucial to differentiate between the resort property sector and condominiums bought with mortgages by…
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Thailand’s economy to grow 2.7% this year
Thailand’s economy is projected to grow 2.7% this year, an increase from the previous forecast of 2.4%, driven by higher foreign tourist arrivals and stronger exports, according to the Ministry of Finance. Deputy Finance Minister Paopoom Rojanasakul highlighted the positive outlook, attributing it to improving economic conditions among trading partners. He noted that growth could potentially reach 3% this year,…
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June exports fall 0.3%, first decline in three months in Thailand
Thai exports experienced a decline for the first time in three months in June, primarily due to reduced sales in the agriculture and food sectors, as reported by the Commerce Ministry on Friday. Despite this dip, the ministry remains optimistic about overall export growth in 2024. June exports decreased by 0.3% compared to the same month last year, falling short…
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Commerce Ministry to finalise digital wallet registration
The Commerce Ministry will finalise the registration of two million vendors for the digital wallet handout scheme by September, marking a significant step in the initiative aimed at boosting the economy. Commerce Minister Phumtham Wechayachai announced that up to two million vendors are expected to participate in the scheme. The ministry plans to disclose more details next week regarding the…
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Thai Finance Ministry aims to increase mangosteen, longan prices
The Finance Ministry plans to support the purchase of mangosteens and longans at the beginning of the season, expected to run from July to August this year, to boost the prices of early-season produce. Finance Minister Pichai Chunhavajira announced that state financial institutions will be used to purchase the produce, ensuring favourable prices for agricultural products consistently. The government aims…
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