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 New in July: Save 10% for life on family health plans in Thailand
Cigna has a special offer this July for families in Thailand. When you sign up three or more people on a family health plan, you will save 10% on your premiums for life. This deal helps you get affordable, high-quality...
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Budget airlines hike flights to China amid sluggish post-Covid recovery
In an attempt to achieve post-Covid recovery, budget airlines across the globe have increased flight frequencies to China. However, travel and capacity are yet to reach pre-Covid volumes. On its side, the Tourism Authority of Thailand (TAT) is being circumspect about implementing a visa fee waiver scheme to draw in more international visitors. Despite loom border controls from the start…
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Bank of Thailand forecasts final interest rate hike amid inflation uncertainty
The Bank of Thailand (BoT) aims to cap its series of interest rate increases with a final 25-basis-point hike slated for August 2, due to an ongoing high and uncertain inflation outlook. This insight has been gathered from a poll conducted recently. After June’s annual headline inflation eased down to 0.23%, falling below the BoT’s target range of 1%-3%, it…
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Economic predicament: Ipsos Study reveals Thai citizens’ fears of surging inflation
A feeling of despondency is evident among the population of Thailand as an Ipsos study revealed concerns over increasing inflation and interest rates. The research, which comprised of responses gathered from a substantial 6,000 persons, displays a disconcerting economic predicament, with more than half of the respondents predicting an inflation upswing within the next 12 months. The study was headed by…
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Thailand eyes record 2 million Russian tourists despite geopolitical tensions
With an increase in flights and a neutral position on the Russia-Ukraine conflict, Thailand’s Tourism Authority (TAT) is poised to welcome a record-breaking 2 million Russian tourists next year. Khanittha Phanworawat, the Moscow office director, emphasises the urgent need to preserve Thailand’s image as a friend to Russian travellers, as a measure to achieve this ambitious goal, especially if other…
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Ford Thailand showcases Ranger Raptor’s potential in thrilling off-road media event
In a recent initiative called the Ford Ranger Raptor Unbeatable Experience, Ford Thailand championed the capabilities of its leading 1-tonne pickup truck, the Ford Ranger Raptor. The experiential event allowed the Thai media to get a first-hand taste of the vehicle’s off-road and cross-country prowess. An impressive fleet composed of the 2.0-litre bi-turbo diesel and 3.0-litre V6 twin-turbo petrol models…
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ESG Scoring pioneered by Thailand’s GSB for large business loan approvals
In a first for Thailand, the Government Savings Bank (GSB) is revolutionising its loan approval process. Chief executive Vitai Ratanakorn shared that GSB will introduce environmental, social and governance (ESG) scoring when deciding loans for sizeable businesses, requiring a credit limit of 500 million baht or more. This ESG scoring pioneering model aims to incentivise companies to contribute positively to…
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Thailand’s smartphone market holds promise despite economic strain
In these difficult financial times, Thailand’s smartphone market still carries incredible potential for device makers, particularly in high-end models, despite reduced support of handset subsidies by mobile operators, according to Oppo, a leading Chinese smartphone maker. With a market value exceeding 100 billion baht, Thailand’s smartphone market is regarded as a gem within Southeast Asia. The Senior Executive Vice-President at…
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India’s rice export halt stirs concerns of 10% surge in Thai rice prices
Potential tremors in the global rice markets may soon be felt in Thailand as India calls a halt on non-basmati white rice exports, according to high-ranking industry insiders. The abrupt decision, communicated by Indian authorities this week, immediately ignited concerns among Thai rice traders and industry power players, with predictions of an imminent 10% surge in local rice prices. The…
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Thailand sees ten-year high in new business registrations, surpasses projections
The Business Development Department of Thailand’s Commerce Ministry reported an exceedance of its new business registration projections for the first half of the year. The original estimate of 42,000 to 45,000 new registrations translated to a practical figure of 47,286. A positive development which signals a thriving entrepreneurial climate. This buoyant climate has encouraged an upward revision of predictions for…
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Business events sector in Thailand set for a boost with projected tourism rebound
The business events sector in Thailand is set to benefit from the buoyancy of the country’s tourism industry and a new influx of trade shows this year, fuelled in part by the country’s stable political environment, according to specialists at Informa Markets Thailand. Sanchai Noombunnam, who helms the firm in Thailand, drew attention to predictions that the country would recoup…
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Thai finance minister proposes high-value fruit insurance, EV premium changes
Exuding a wave of fresh optimism for the agricultural and green sectors, Finance Minister Arkhom Termpittayapaisith has floated a revolutionary proposal – the launch of insurance for high-value fruits. A measure aimed at fortifying the faith of fruit farmers, the proposal was made during a compelling keynote speech at the CEO Insurance Forum 2023. The main theme for the forum,…
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Thai business leaders express concern over political instability
Jitters are escalating among the business community in light of the Constitutional Court’s directive yesterday calling for the temporary removal of Pita Limjaroenrat, head of the Move Forward Party (MFP), from his role as a member of the House of Representatives. This development marks another detrimental blow for Pita, notwithstanding his party’s extraordinary election accomplishments, spurring fears of an imminent…
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Foodland pivots strategy targeting younger generations with Grocerant convenience outlets
Established supermarket chain Foodland Supermarket Co implements fresh business tactics to allure the younger generations whilst partnering with property developers to inaugurate convenience outlets on housing and condominium sites. Embracing this revamped strategy, the firm has tied up within SC Asset Corporation subsidiaries, leasing out space and debuting two novel ‘Grocerant’ outlets, a subsidiary retail label within the Foodland Group,…
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Sustainability investment doubled by Thai union to benefit oceans and communities
Unrelenting in his pursuit of sustainability, Thiraphong Chansiri, CEO of Thai Union Group PCL, a dominant player in the global seafood manufacturing scene, divulged pivotal advancements in the company’s ecological strategy. Always at the forefront of advocating sustainable business practices, Thiraphong explained the profound pressure on our oceans, harbouring the livelihood and sustenance of up to 600 million people, particularly…
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Thai baht’s unexpected surge makes a splash, takes the lead in Asian currency gains
In an unexpected buoy of currency today, the Thai baht took the lead in Asian currency gains, reaching a two-month apex. This surge, of 0.9%, comes in the wake of strong hopes for the resolution of Thailand‘s political deadlock and a waning US dollar, factors that buoyed the sentiments of investors. Meanwhile, share market traders adopted a cautious stance; local…
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SEC raises crowdfunding cap for retail investors to 50 million baht
In an effort to foster growth among startups and small to medium-sized enterprises (SMEs), the Securities and Exchange Commission (SEC) is extending the ceiling on security-based crowdfunding offers to 50 million baht for retail investors. Previously, the limit was 40 million baht. However, institutional, high-net-worth, and ultra-high-net-worth investors are not subjected to any caps. The financial regulator put forth in…
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Thai businesses call for swift government formation
A speedy establishment of a new administration is of paramount importance, according to the business community amid ongoing political uncertainty. Chookiat Ophaswongse, an honorary president of the Thai Rice Exporters Association voiced concerns over the nebulous political situation, indicating the future of Move Forward Party leader Pita Limjaroenrat as the next prime minister is uncertain, making the country vulnerable to…
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High-end watch demand increases among younger Thai generation
A constant evolution and inherent value have ensured a secure niche for high-end watches in today’s market, said Narun Thamavaranukup, the managing director of watch distribution company, PMT The Hour Glass. With smartphones ubiquitous, one might think wristwatches would lose their charm. However, as Narun says, these timepieces are more than mere instruments to tell time. For Narun, watches play…
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Fitch affirms Thailand’s BBB+ rating, forecasts GDP and tourism growth
Having earned a reputation for shrewd financial forecasting, Fitch Ratings has given Thailand‘s long-term foreign-currency issuer default rating (IDR) a rating affirmation of BBB+ and a stable outlook. The judgement is largely influenced by a balance between the firm’s macroeconomic policy framework and sound external finances, gauged against some structural weaknesses like the lower per capita income and lower World…
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Thai private sector braced for impact amid political unrest and government delays
Protests and potential political instability are causing growing unease within Thailand‘s private sector, chiefly due to the impact of delays in forming the country’s new government. The possible effects are multifaceted, potentially touching areas such as new investments and the tourism industry. The Thai Chamber of Commerce’s vice-chairman, Poj Aramwattananont, expressed concern yesterday in light of recent moves by the…
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Thai tourism hit by weak Chinese market and waning local interest
The sluggish Chinese economy and hesitant local budget travellers have dealt a blow to Thai tourism operators along the eastern seaboard, casting a gloomy cloud over this year’s revenue prospects. The slow recovery marks it as a testing time for places like Pattaya, particularly with a quiet Chinese market yet to bounce back and local visitors not returning en masse,…
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PTT Plc amplifies renewable energy drive with hydrogen fuel advancement
National energy titan PTT Plc is bolstering initiatives to harness additional renewable power sources and progress its hydrogen fuel enterprise, as part of a strategy for sustainable company growth. Cherdchai Boonchoochauy, Senior Executive Vice President for Innovation and New Ventures, specified that PTT’s existing blueprint is to create 12 gigawatts of renewable electricity and restrict power generated from non-renewable fuels…
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Thailand’s foreign direct investment skyrockets with focus on EV industry
Investment attraction to Thailand has seen a remarkable surge in the first half of this year. The nation registered a 70% year-on-year increase to an impressive 364 billion baht, according to the Board of Investment (BoI). This boost, particularly contributed by an astonishing 141% soar in foreign direct investment, serves as a testament to Thailand’s status as a preferred manufacturing…
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DES ministry set to combat cybercrime with new AI registry
The Ministry of Digital Economy and Society (DES) in Thailand is gearing up to introduce the Central Fraud Registry, a technological solution designed to combat scams and tackle illegal transactions. This innovation stems from the National Interbank Transaction Management and Exchange, a collaboration between the Thai Bankers’ Association (TBA) and the Bank of Thailand. As stated by notable DES figures,…
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Revenue department to use AI for virtual tax consultation with taxpayers
Plans are underway within the Revenue Department to employ online chatbots to provide virtual tax consultation for taxpayers. Director-General Lavaron Sangsnit confided that discussions have commenced with a notable tech entity, Microsoft Corp, concerning the integration of such programmed interactive platforms to offer simplified answers to tax-related queries. The objective of this manoeuvre, states the director-general, is to provide a…
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Japanese tourism numbers in Thailand threatened by weak yen and slow Japan flight reintroduction
In light of Japan’s hesitant return to tourism and a faltering yen, Thailand’s Tourism Authority (TAT) admitted there may be difficulty in meeting the year’s target of 850,000 Japanese arrivals. The figure reflects 50% of the Japanese tourism figures reported in 2019, considered an optimistic scenario by the Tokyo office director of TAT, Kajorndet Apichartrakul. As enclosed by Kajorndet, the…
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TTB to tackle household debt and promote ESG standards
Piti Tantakasem, Chief Executive of TMBThanachart Bank (ttb), insists that tackling high levels of household debt should be a priority on the national agenda. Piti made known that he is poised to tackle the issue, given his leading role within the household debt resolution team set up by the Thai Bankers’ Association (TBA). Alongside the central bank and other pertinent…
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Thailand’s potential as international events hub questioned amidst Taylor Swift tour snub
The exclusion of Thailand from the itinerary of Taylor Swift‘s world tour has prompted the denizens to reconsider the nation’s global standing as a viable hub for international exhibitions and events. Bringing the country’s potential into question, it was revealed that the total revenue from meetings, incentives, conferences and exhibitions (MICE) industry for the final quarter of last year was…
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Thai SEC seizes Stark Corporation’s assets amidst false accounting claims
The Securities and Exchange Commission (SEC) of Thailand seized the assets of Stark Corporation and some of its key personnel due to accusations of false accounting. Excessive damages have ensued following this misconduct with Stark’s debts rising above 38 billion baht as believed by the regulators. The SEC has also frozen the assets of Vonnarat Tangkaravakoon, formerly the acting chief executive…
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GAC Aion to invest 6 billion baht in Thai EV market expansion
China‘s third-largest electric vehicle (EV) producer, GAC Aion, is gearing up to expand its operations in the Thai market. In an ambitious plan, the automaker pledged to pour over 6 billion baht into the establishment of manufacturing and sales facilities in Thailand. This noteworthy market penetration comes as the result of the Board of Investment’s (BoI) careful arrangement involving seven…
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