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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Starting a new life abroad is exciting—new culture, new lifestyle, and new chances to grow. But living far from home also means taking steps to protect your health in unfamiliar surroundings. Without the right coverage, even small health issues can...
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Thai government approves 8 billion baht scheme to tackle PM2.5 pollution
To mitigate the escalating PM2.5 pollution problem, the government recently approved a scheme worth 8 billion baht designed to incentivise sugarcane farmers to modify their harvesting methods. The initiative, which is set to be implemented in the 2022/23 harvest year, encourages farmers to cut fresh sugarcane without burning the residue, a practice known to be a significant contributor to the…
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Thai PBS proposes 4K broadcasting trial to combat streaming threat
Thai Public Broadcasting Service (PBS), in a bid to stay in line with the global trend of upgrading broadcast technology, has proposed a trial of the 4K high-resolution broadcasting platform. This would broadcast content in 16 provinces across Thailand, said the public broadcaster. This move is seen as crucial to combat the rising threat of streaming platforms in the broadcasting…
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Thailand’s PM courts tech giants for digital sector investment
Prime Minister Srettha Thavisin has been courting major corporations in a bid to bolster foreign direct investment (FDI) in Thailand’s digital and high-tech sectors. This comes after the initial deals struck for tech investment under the previous administration. During his recent visit to the US, the 61 year old Thai PM engaged with several technology behemoths, imploring them to consider…
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Thai EV solutions provider teams up with Chinese manufacturer for electric taxis
In an innovative move to capitalise on the upswing in electric vehicles (EVs) in Thailand, EVme Plus Co, a leading EV solutions provider, is partnering with a Chinese EV manufacturer. This collaboration is aimed at promoting the usage of battery-powered cars among taxi drivers. EVme Plus Co is a part of the oil and gas colossus PTT Plc. The company…
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AI accelerates: Dell’s 2024 forecast unveils tech integration triumph for business evolution
Dell Technologies predicts that by 2024, artificial intelligence (AI) will be the driving force behind the integration of other emerging technologies, including advanced hardware, edge devices and cybersecurity, all aimed at enhancing business transformation. The tech firm foresees a convergence of quantum computing and generative AI within the next five years. John Roese, Dell Technologies’ Global Chief Technology Officer, shared…
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Tax deductions and returns: key investment options in Thailand
Shrewd investors actively seek opportunities that provide tax deductions while ensuring respectable returns. Within this context, three primary investment options demand consideration. These options comprise insurance, long-term funding, and savings through provident and social security fund contributions. Investment choices are manifold. Social Security Fund, for instance, offers a tax deduction equivalent to the amount paid, capped at 9,000 baht per…
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Baconomics at play: Pork prices sizzle down, fuelling October’s inflation cool-off
A decline in pork prices significantly contributed to a reduction in the inflation rate in October, an anonymous figure within the Finance Ministry has revealed. The inflation experienced a year-on-year decrease of 0.31% in October, largely due to a 0.2% drop in energy prices, attributed to lower oil costs and employed subsidies to keep energy prices in check. Moreover, food…
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Thailand ramps up fight against online IP infringements
Commerce Minister Phumtham Wechayachai ordered the Intellectual Property Department to accelerate measures against online intellectual property (IP) infringements. The proliferation of such violations on digital platforms, he noted, not only damages IP owners, predominantly entrepreneurs but also tarnishes Thailand’s image. In response to this, small and medium-sized enterprises are being encouraged to boost their comprehension of IP rights. This includes…
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Thailand’s digital leisure evolution
Thailand, a country known for its vibrant culture and picturesque landscapes, is currently experiencing a remarkable transformation in its leisure and entertainment sectors. This transformation, deeply rooted in the digital revolution, is reshaping how Thais engage with entertainment and cultural activities. Thailand is forging ahead on an innovative path where technology expands cultural offerings to make them more accessible and…
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Rice production crisis forecast: Dry woes, dwindling waters, and El Nino brew trouble
Asian rice production during the off-season is predicted to suffer due to a blend of unfavourable weather conditions including dry planting, dwindling reservoirs and ongoing El Nino weather patterns. These issues are due to reduce the early 2024 yields, further squeezing supplies and potentially causing a rise in food inflation. Both India, the world’s largest rice exporter and Thailand, the…
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Thai Commerce Ministry plans new year mega sale
The Thai Commerce Ministry has unveiled plans for a new year mega sale, an extensive retail event, to alleviate living costs for the local population. The sale, which is being presented as a new year’s gift to the citizens, is set to take place at Muang Thong Thani from December 20 to December 24. The Commerce Minister, Phumtham Wechayachai, reported…
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Thai community enterprise signs 100 million baht deal for Korat’s Golden Bananas export to Japan
A landmark deal worth 100 million baht has been signed between a Japanese buyer and a Thai community enterprise group for the purchase of 5,000 tonnes of Korat’s Golden Bananas. This first-ever export deal, set to greatly benefit local farmers, has been hailed for its potential to open new markets for Thai growers. The contract was signed at the Lamtakong…
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Singapore and Zurich rank as world’s most expensive cities in 2023
The Economist Intelligence Unit (EIU) recently revealed that Singapore and Zurich share the title of the world’s most expensive city in 2023. Following closely are Geneva, New York, and Hong Kong, maintaining that the worldwide cost-of-living crisis is yet unresolved. The research and analysis division of the Economist Group observed that prices for over 200 frequently utilised goods and services…
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Thai organisations face frequent cyberattacks, study reveals
A recent study conducted by Cloudflare, a US-based firm specialising in content delivery, networking, and cloud cybersecurity, disclosed that 57% of Thai organisations have been targeted by at least 10 cybersecurity incidents in the past year. The findings revealed that the primary motivation for these cybercriminal activities was to install spyware, followed by financial gain and ransomware. Interestingly, despite the…
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Thai finance ministry considers beverage tax restructure to boost tourism
A proposed restructuring of the beverage tax framework is under consideration by the Finance Ministry, as revealed by the permanent finance secretary, Lavaron Sangsnit. The restructure aims to bolster tourism and domestic spending. This Friday, Lavaron plans to engage in a discussion with officials from the Customs Department and the Excise Department. The proposed measures align with Thai governmental policies…
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Thailand’s export sector sees recovery with third month of growth
The Director-General of the Fiscal Policy Office, Pornchai Thiraveja, announced that the export sector is showing signs of recovery, marking its third month of consecutive growth. Despite a year-on-year contraction of 2.7% in the value of exports between January and October, monthly figures indicate a resurgence, with an 8% rise in October to US$23.5 billion. Quarterly analysis shows a decrease…
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Thailand’s shrimp exports forecasted to surge by 10% next year
A 10% surge in Thailand’s shrimp exports is on the horizon for the upcoming year, brought about by a minor uptick in local shrimp production and bolstered demand primarily from the United States. Thai Shrimp Association President Ekapoj Yodpinit disclosed that shrimp production in Thailand this year mirrored the previous year’s figure of 280,000 tonnes. Meanwhile, the country’s shrimp exports…
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Thai auto market anticipates price war as Chinese EVs flood in
The Thai auto market is bracing for a potential price war as the influx of affordable electric vehicles (EVs), mainly from China, threatens the traditional dominance of internal combustion engine (ICE) vehicles. Over the next few years, the competition is set to escalate as two to three Chinese automakers plan to roll out their EVs in Thailand, capitalising on the…
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Vietnam aligns corporate tax with global 15% minimum to attract investors
Vietnam has adopted a resolution to equalise its corporate income tax with the globally accepted minimum of 15% for multinational corporations. This move is aimed at countering the global trend of countries competing to attract investors by lowering their taxes. The resolution was supported by a vast majority, approximately 94% of the National Assembly delegates, as per the legislative records.…
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Thai businesses may face wage pressure after state officials’ salary increase
The Thai Chamber of Commerce predicts a potential ripple effect on businesses, following the Cabinet’s decision to approve a 10% salary increase for state officials. The chairman of the chamber, Sanan Angubolkul, anticipates that this move may compel businesses to raise their wages to attract skilled employees. The salary increase for new state employees will result in a monthly income…
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Flight cancellations: Chinese airlines slash 40% of slots amid Thai tourism slowdown
The Civil Aviation Authority of Thailand (CAAT) witnessed a substantial number of flight slot cancellations by Chinese airlines, accounting for over 40% of total cancellations across Thailand’s airports. The CAAT director, Suttipong Kongpool, highlighted that such cancellations are not unusual and are often a result of fluctuating travel demand. Airline companies frequently resort to such measures in order to maintain…
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True Corporation spearheads AI utilisation for automation
True Corporation, led by Deputy Chief Executive Sharad Mehrotra, is positioning itself at the forefront of artificial intelligence (AI) utilisation with ambitious plans for widespread automation and paperless operations. The company’s recent hybrid conference, AI Gets Good, highlighted the critical need for an integrated approach that blends technology, people, and ethics. Accenture research indicates that language-based AI could augment around 40%…
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Combined tour packages: Thai proposal for Chinese tourists
Chinese tourists are the target of a new strategy suggested by Thai tourism operators, who propose selling combined tour packages to Thailand and Malaysia. This proposal comes in light of China granting visa exemptions to visitors from Malaysia and several European countries, but not Thailand. Songchai Mungprasithichai, president of the Songkhla Tourism Promotion Association, believes that since Hat Yai Airport…
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Doubts over Thai target of 8.2 million Chinese visitors in 2024
Analysts have expressed doubts over the Tourism Authority of Thailand’s (TAT) ambitious target of attracting 8.2 million Chinese visitors next year. This comes as predictions for overall foreign arrivals next year have been downscaled, amidst concerns over a sluggish global economy. Kasem Prunratanamala, who leads research at CGS-CIMB Securities in Thailand, stated that while the firm has kept its estimation…
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Thailand and Malaysia enhance bilateral relations to boost border trade and tourism
A significant agreement was recently reached between the leaders of Thailand and Malaysia to bolster their bilateral relations, with a specific focus on enhancing border trade and tourism. The Thai Prime Minister, Srettha Thavisin, and his Malaysian counterpart, Anwar Ibrahim, agreed upon this during their working visit at the newly inaugurated Sadao customs checkpoint in Songkhla. Their meeting, which took…
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Job-jitters in Thailand: Employment growth hits five-quarter low
The state planning agency of Thailand revealed today that the country’s employment growth has slowed to a five-quarter low of 1.3% year-on-year in the third quarter amid a sluggish economy and weak demand for exports. This comes as Southeast Asia’s second-largest economy recorded a meagre growth of 1.5% in the July-September period, marking the slowest pace witnessed this year. The…
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Thai stock exchange under SEC review for high-frequency trading programs’ suitability
The Stock Exchange of Thailand (SET) has been requested by the Securities and Exchange Commission (SEC) to carry out a comprehensive review of the use of trading programs, including high-frequency trading (HFT). This initiative has been launched to assess the current trading volumes and their suitability for the Thai stock market. SEC’s secretary-general, Pornanong Budsaratragoon, revealed in a Bangkok Post…
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Visa-free travel policies boost global tourism and economy
Countries worldwide are recognising the importance of travel freedom in bolstering their economies and accelerating the recovery post-pandemic. As tourism and trade flourish without border restrictions, governments are implementing strategies to enhance their tourism competitiveness, such as visa-free travel policies and the digitalisation of pre-travel processes. Prominent countries like China and India, with their vast populations, are primary targets for…
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10 trading strategies you must explore for a stable flow of finance
An investment strategy represents a set of principles that guide investment decisions. There are different trading plans that you can follow depending on your choice, risk tolerance, access to capital, and ability to reach your long-term financial goal. When you are trading in financial markets, you will come across popular trading options. You can find your success using one strategy to…
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Gold prices could hit US$2,015 per ounce in near future, says GTA
The Gold Traders Association (GTA) projected a potential rise in gold prices, possibly hitting US$2,015 (71,535 baht) per ounce in the near future. However, this trend may be interspersed with periods of market volatility. Yesterday morning, spot gold saw an increase of 0.4% to US$1,997.39, spurred by a dip in the US dollar and a fall in the benchmark US…
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