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 Why retirees in Thailand are choosing long-term health insurance over quick fixes
Retirees in Thailand are increasingly seeing the importance of health insurance in protecting their well-being during retirement. With insurance requirements for retirement visas and rising healthcare costs, many are moving away from short-term plans and choosing long-term coverage. Long-term health...
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Bitcoin hits new high in baht on Bitkub amid global surge
Bitcoin‘s price achieved an unprecedented high of 2.37 million baht on Bitkub Exchange yesterday, a significant rise prompted by the cryptocurrency’s global price surpassing its previous record of US$69,000 per token in November 2021. This demonstrates an impressive 190% rally in the past year. Crypto financial intelligence platform, Coin Metrics, highlighted that Bitcoin hit its peak at US$69,210 on March…
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Illegal migrant labour and sex work challenge Thailand’s tourism
Migrant workers, who have illegally entered Thailand by taking advantage of visa-free privileges, continue to pose a challenge in the country’s tourism sector, particularly within the sex industry. This issue has led to calls from operators for the government to legalise sex work. A recent confrontation between Filipino transgender women and their Thai counterparts in Soi Sukhumvit 11, Bangkok, has…
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National Telecom’s spectrum rights expiry threatens mobile traffic quality
National Telecom (NT), a state telecom company, faces a potential threat to its spectrums as the rights to three of its spectrum ranges are set to expire in September next year. The National Broadcasting and Telecommunications Commission (NBTC) has been urged to devise a transparent plan to reallocate these spectrums, which are currently held by NT. The spectrum ranges in…
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Thai PM to visit Europe, aiming to bolster trade and investment
Prime Minister Srettha Thavisin of Thailand is set to travel to Germany and France in an official capacity. The visit, scheduled for March 7 to March 14, aims to bolster trade and investment between Thailand and these European nations. Accelerating the completion of a Free Trade Agreement (FTA) and advocating for visa exemptions for Thai passport holders are top priorities.…
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The rise of Digital Nomadism: A guide for Thailand’s wanderers
These days, work is no longer defined by being locked within four office walls from 9 to 5. The world is going through a transformation and that includes the way we work. The nomadism trend is just an example of how the borders between the types of lifestyle disappear and people become able to combine different elements of travel, adventures,…
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Bitcoin and gold hit record highs together for the first time
Global markets are experiencing a whirlwind of mixed signals as Bitcoin and gold both hit record highs. This marks the first concurrent peak for the two assets since the emergence of Bitcoin over ten years ago. However, each asset’s distinct driving factors could create confusion – gold has long been a safe store of value, while Bitcoin’s function beyond pure…
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OR’s SDG policy fuels Thailand’s sustainable economic growth
PTT Oil and Retail Business (OR) has adopted a Small-Diversified-Green (SDG) policy, aiming to stimulate Thailand’s economic growth through sustainable practices. This move aligns with the country’s broader strategy of reducing carbon footprints by 2030. The SDG policy focuses on empowering small communities as key drivers of economic recovery, particularly in the tourism sector tipped to fuel the national GDP…
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Thai PM invites Aussie firms to invest in clean energy
During the 2024 ASEAN-Australia Special Summit, Srettha Thavisin, the Prime Minister of Thailand, extended an invitation to prominent Australian companies to invest in Thailand’s electric vehicle (EV) battery, clean energy, and transport logistics sectors. The summit, which marks five decades of Australia’s partnership with ASEAN, is being held in Melbourne, Australia. PM Srettha used this opportunity to meet with his…
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Commerce Ministry sees business boom: Registrations set to soar
The Business Development Department of the Commerce Ministry foresees a positive trend in new business registrations for the year. The projection rides on the anticipated recovery of the tourism sector, thriving e-commerce, and the burgeoning electric vehicles (EV) market. In the first couple of months of 2024, new business registrations have seen a 1.57% increase, reaching a total of 17,270.…
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Thailand’s influencer marketing boom sparks regulatory debates
The burgeoning influencer marketing trend is powering the local creator economy while simultaneously causing societal implications, thereby sparking debates over regulatory measures. Thailand’s National Economic and Social Development Council (NESDC) and Nielsen’s data highlighted the meteoric rise of influencers, with over 13.5 million influencers in the ASEAN Economic Community, and more than two million influencers in Thailand alone. The scramble…
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Post-pandemic shift in tourist spending habits reveals TikTok’s role in Thai travel
The Tourism Authority of Thailand (TAT) divulged insightful data revealing a shift in foreign tourists’ spending habits post-pandemic and the surge in popularity of TikTok as a source of travel information and inspiration. A survey conducted by TAT’s digital R&D Deputy Governor Teerasil Tapen, encompassing 30,054 tourists in 2023, unveiled an increased average expenditure on individual trips, rising from 48,209…
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Thai Finance Ministry sets eligibility for virtual bank licences
The Thai Finance Ministry unveiled the eligibility criteria for obtaining a virtual bank licence, which includes a minimum registered capital requirement of 5 billion baht (US$139 million). The specifications were published in the Royal Gazette on March 4, as revealed by Paopoom Rojanasakul, secretary to the finance minister. Virtual banks will be mandated to establish their headquarters in Thailand and…
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Thailand trials first mobile phone emergency alert system
The inaugural trial of Thailand’s first cell broadcast service (CBS), a pioneering emergency alert system for mobile phones, kicked off yesterday. The trial was a joint venture between the National Broadcasting and Telecommunications Commission (NBTC) and Advanced Info Service (AIS). Conducted at the NBTC headquarters on Phahon Yothin Road, the trial demonstrated the capabilities of the CBS system. The system…
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Thailand urged to diversify agricultural exports to boost value
A study by the Commerce Ministry urges agricultural businesses to widen their export markets to mitigate risk and boost the value of food products and processing. The advice follows findings that the majority of export-oriented agricultural goods are commodities or those with only rudimentary processing. Deputy Commerce Minister Napintorn Srisunpang disclosed that agricultural and agro-industrial products accounted for 17.3% of…
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Sena unveils rent-to-own strategy to tackle mortgage rejections
Sena Development, a publicly traded property developer, revealed new plans this month to rent and transfer ownership of its unsold condo units. This move is in response to a high rate of mortgage rejections. The company aims to enhance sales and revenue in the current year. Kessara Thanyalakpark, the managing director, stated that the innovative strategies would target two distinct…
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Thailand considers scrapping arrival cards for Malaysian tourists
Prime Minister Srettha Thavisin announced today the potential removal of the necessity for Malaysian tourists to complete arrival and departure cards at primary border crossings, aimed at promoting tourism and business growth. Currently, all visitors arriving via the Sadao checkpoint in Songkhla, regardless of nationality, are waived from the requirement to fill out the Tor Mor 6 (TM 6) cards.…
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Gold prices hit record high in Thailand, predicted to climb further
Gold prices in Thailand have reached a historic peak, with projections indicating a possible increase to 38,000 baht per baht weight within the year. This surge is largely attributed to the continued global increase in gold prices, which are nearing a two-month high of over US$2,080 per ounce, according to the Gold Traders Association (GTA). The price of gold bars…
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Kia considers setting up electric vehicle factory in Thailand
Premium Korean car manufacturer, Kia, is exploring the possibility of setting up an electric vehicle (EV) factory in Thailand, as per an announcement made by Kia Sales (Thailand). The move comes in response to the rapidly expanding EV market in the country. If approved by Kia Corporation, the parent company which falls under the Hyundai Motor Group, Thailand would become…
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Thailand’s internal trade dept to cut pig production for price stability
The Internal Trade Department is looking to partner with the Department of Livestock Development (DLD) and the Swine Raisers Association of Thailand, with a plan to cut pig production down to an average of 8,000 piglets each day. This action aims to stabilise the price for livestock producers across the country. According to the director-general of the Internal Trade Department,…
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Thai economy set for revival amid global uncertainties
The Federation of Thai Capital Market Organizations (FETCO) anticipates a revival of the Thai economy in the latter half of the year, supported by potential interest rate reductions. This optimistic outlook emerges amidst global economic uncertainties, with possible recessions in the UK and Japan, and China grappling with a prolonged property crisis. FETCO chairman Kobsak Pootrakool believes that the global…
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Foreign currency deposits surge in Thailand
The past year has seen a significant upturn in foreign currency deposits (FCDs), spurred by appealing interest rates due to global rate hikes. According to data from the Deposit Protection Agency (DPA), member financial institutions observed a surge in FCDs to a total value of 812 billion baht (US$22 billion) by November 2023, up from an earlier figure of 640…
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Thailand intensifies crackdown on illegal short selling
The Chairman of the Stock Exchange of Thailand (SET), Pichai Chunhavajira, announced plans to intensify the country’s crackdown on illegal short selling as shares continue to underperform. Currently, the law permits penalisation of only the securities companies that initiate the short-selling order. However, the market authorities are contemplating amending the law to allow the prosecution of both individuals and companies…
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Bitcoin nears all-time high, marking a 50% rise this year
Bitcoin’s value witnessed a steep rise today, reaching a two-year high of US$64,285, a mere 2% shy of its all-time record of US$68,999.99 set in November 2021. This surge marks a 50% increase in the cryptocurrency’s value since the beginning of this year, with the majority of this growth observed in recent weeks. The rise in Bitcoin’s value corresponds with…
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LH Bank reveals strategy for mid-sized status by 2030
Land and Houses Bank (LH Bank), the financial subsidiary of property giant Land and Houses Plc (LH), unveils its ambitious plan to become a mid-sized bank by 2030. The bank’s strategy is founded on robust loan growth and an increasing income stream. LH Bank’s five-year business strategy involves a comprehensive restructuring of its loan portfolio, aimed at driving loan expansion…
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Thailand’s TQM Insurance introduces cover for PM2.5 pollution-related diseases
Health concerns over PM2.5 air pollution in Thailand are escalating, prompting insurance companies to develop policies that cover respiratory diseases attributed to the hazardous particulate matter. TQM Insurance Brokers, in collaboration with Bangkok Insurance (BKI), has introduced a novel health insurance policy specifically designed for ailments related to PM2.5 dust exposure. The policy stipulates that if an insured individual is…
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Thai gold prices surge, reach new high at 35,750 baht per baht
Gold prices in Thailand saw a continuous surge today, prompting those interested in trading the precious metal to act swiftly. The Gold Traders Association (GTA) reported a significant increase compared to yesterday’s closing rates, with the selling price of gold ornaments per baht weight reaching 35,750 baht today marking a 50 baht increase from the previous day. The domestic market…
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Thailand gov urges bank to cut interest rate amid economic crisis
The ongoing feud between Prime Minister Srettha Thavisin and Bank of Thailand Governor Sethaput Suthiwartnarueput regarding interest rates remains the focus of media attention. Meetings of the Monetary Policy Committee (MPC) have been closely watched as elements of the government and business sector believe the central bank needs to reduce the policy rate. The MPC is set to meet six…
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ThaiBev intensifies commitment to sustainable growth
Thai Beverage Plc (ThaiBev) is stepping up its commitment to sustainable development, implementing strategies that encompass all facets of its business operations. The company’s Executive Vice President and Chief of Sustainability and Strategy, Tongjai Thanachanan, outlined the firm’s commitment to achieving sustainability through a comprehensive approach, known as Enabling Sustainable Growth (ESG). This approach encompasses environmental, social, and governance goals.…
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Gold prices experience significant rise, says GTA
Today saw a marked increase in gold prices, according to the Gold Traders Association (GTA). The buying prices for gold ornaments reached 34,473.84 baht (US$966) per baht weight, and gold bars were valued at 35,100 baht (US$984) per baht weight. On the other hand, the selling prices were determined at 35,700 baht (US$1,001) per baht weight for gold ornaments, while…
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Thailand’s aviation hub plans receive airline approval
The Thai government’s initiative to transform the country into an aviation and logistics hub has been met with approval from airlines. However, concerns regarding congestion at major airports and the significant investment required to accommodate increasing demand persist. Prime Minister Srettha Thavisin recently unveiled plans to capitalise on Thailand’s strategic location in Southeast Asia to attract more international airlines to…
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