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 is a popular place for people who want to enjoy a good life at a lower cost or even on a budget. Many expats, retirees, and digital nomads choose to live here because daily expenses are cheaper than in...
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Thai hotels back new co-payment scheme amid fraud cases
Hotel operators in Thailand have embraced a proposal to revive the co-payment scheme for hotel expenses, viewing it as a potential boost for domestic spending. However, concerns have been raised regarding 1,400 unresolved fraud cases from the scheme’s previous phases. Tourism and Sports Minister Sorawong Thienthong discussed the matter with Prime Minister Paetongtarn Shinawatra, who agreed in principle to reintroduce…
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Malaysia and Cambodia launch cross-border QR payment system
Malaysia and Cambodia have collaboratively launched a cross-border quick response (QR) payment linkage, enabling consumers and merchants to conduct instant retail payments via mobile applications. This initiative, announced by Bank Negara Malaysia and the National Bank of Cambodia (NBC), aims to enhance the payment experience and expand market reach for over 5 million merchants in both countries, primarily small businesses.…
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Virtual bank brawl: Thailand’s money movers make their pitch
Competition for virtual bank licences in Thailand is reaching fever pitch, with five heavyweight business groups stepping forward just before the application deadline. The Bank of Thailand and the Ministry of Finance are set to issue an undisclosed number of licences, with the winners announced in the first half of next year. Successful applicants will have a year to kick-start…
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UK signs pivotal trade and investment deal with Thailand
The United Kingdom government has finalised a significant trade and investment agreement with Thailand, marking the first such deal since the Labour government assumed office in July. Commerce Minister Pichai Naripthaphan and UK Trade Minister Douglas Alexander signed the enhanced trade partnership agreement in Bangkok yesterday, September 18. The deal seeks to eliminate specific trade barriers, focusing on sectors such as…
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Thailand’s golden rice grain faces storm from strong baht and India
Thailand’s rice exports are teetering on the edge of crisis with looming threats from a strong baht and potential policy changes in India. The Thai Rice Exporters Association has cast a shadow over next year’s outlook, predicting exports might flop below the eight million tonnes mark. Chookiat Ophaswongse, the association’s honorary president, revealed the unsettling news despite unabated flooding wreaking…
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Bangkok Bank gives a healthy boost to Siriraj with 70 million baht
Bangkok Bank Public Company Limited (PCL) made a healthy contribution of more than 70 million baht to Siriraj Hospital through its Bangkok Bank-Siriraj Card Project, reinforcing the bank’s dedication to social responsibility and community support. On Mahidol Day, Pochanee Kongkalai, Executive Vice President and Assistant VP of Customer Banking, proudly presented the cheque for 70,315,053.39 baht to Professor Dr Apichat Asavamongkolkul,…
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Thailand to borrow 2.59 trillion baht for 2025 budget
The Government of Thailand announced a borrowing plan of 2.59 trillion baht for the 2025 fiscal year, assuring that this will not hinder the private sector’s fundraising efforts, a Ministry of Finance official stated yesterday. Jindarat Viriyataveekul, public debt adviser at the ministry, said the debt plan, which begins on October 1, should not cause concern in the markets. She…
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MP urges central bank governor to resign over call centre scams
People’s Party list MP Wiroj Lakkhanaadisorn launched a blistering attack on the governor of the Bank of Thailand, urging him to resign if he can’t protect the public from the alarming rise in call centre scams. He slammed the central bank for reaching a “lowest point,” with scammers boldly impersonating officials to trick unsuspecting Thais into transferring their cash. Wiroj…
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Waste not, want not: Thailand tightens reins on dirty paper imports
Thailand’s Foreign Trade Department is cracking down on dirty deals—literally. Stricter import controls on waste paper are in the works to safeguard public health and protect the environment. Ronnarong Phoolpipat, Foreign Trade Department Director-General, dropped the bombshell. The Commerce Ministry has been inundated with reports all year from concerned entrepreneurs. These tip-offs revealed that imported waste paper is ending up…
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Finance Ministry set to cash in: £400bn portfolio gets a stock-over
In a bold new move, the Finance Ministry is gearing up to overhaul its colossal 400 billion baht stock portfolio, hinting at potential sell-offs. This announcement comes straight from Finance Permanent Secretary Lavaron Sangsnit, who let the cat out of the bag. Lavaron, a key player in the State Securities Management and Development Committee within the State Enterprise Policy Office…
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Virtual bank race: Five giants vie for digi-crown in Thailand
The race is heating up for the new virtual bank licences, with five heavyweight business groups ready to battle it out. Gulf consortium has already thrown its hat into the ring, according to Krungthai Bank (KTB) president Payong Srivanich. This power team includes Gulf Energy Development and PTT Group. Armed with a solid business plan and robust ecosystem that meets…
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Thailand banks could be forced to share hacking costs
Thailand’s Digital Economy and Society (DES) Minister Prasert Chantararuangthong has thrown his weight behind a groundbreaking proposal that could see commercial banks sharing the financial burden when their customers’ accounts are hacked. Prasert, who also serves as Deputy Prime Minister, publicly backed opposition MP Wiroj Lakkhanaadisorn’s suggestion during a heated House debate. Wiroj, from the People’s Party, argued that banks…
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National wage committee to finalise 400-baht minimum wage
Labour Minister Phiphat Ratchakitprakarn announced that the national wage committee will reconvene on Friday to discuss the implementation of a 400-baht minimum wage for large employers nationwide starting October 1. The tripartite committee, which includes representatives from employees, employers, and the government, met on Monday. However, all five employer representatives were absent, leaving only the 10 members from the employee…
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Gold rush: Fed’s policy shift sparks record-breaking prices
Gold prices soared to an all-time high today as traders anticipate the Federal Reserve’s first shift towards easing monetary policy in over four years. The price of bullion jumped by up to 0.4%, hitting a peak of US$2,589.03 per ounce during Asian trading hours, today, September 17. This comes after a 3.2% increase last week, with eyes now on the…
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Digital wallet scheme falls short of 45 million target, saves 100 billion baht
Online registrations for the government’s digital wallet handout scheme have recently closed, with only 36 million people signing up, falling short of the 45 million target. The Finance Ministry reported that this shortfall has resulted in a saving of 100 billion baht (US$3 billion) from the project’s budget. When asked whether the lower registration numbers indicated a lack of public…
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Commerce minister plea: Time to cut the baht and boost the rates
Commerce Minister Pichai Naripthaphan called on the Bank of Thailand (BoT) to slash interest rates and stabilise the baht in a bid to boost exports and prop up GDP. In a policy statement issued today, Pichai slammed the current strength of the baht, which he claims is hitting exports hard. With export growth expected to be sluggish this year, he’s…
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Thai business leaders grill PM Paetongtarn on economic rescue
Thai business leaders and economic gurus are turning up the heat on Prime Minister Paetongtarn Shinawatra, urging immediate and long-term strategies to avert an economic catastrophe. Top of their list? Comprehensive debt restructuring, help for the low-income earners, and bolstering small and medium-sized enterprises (SMEs) against the foreign online trading juggernauts. In a dramatic parliamentary session yesterday, September 15, the…
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WHAUP to invest 2.3bn baht in renewable energy projects
WHA Utilities and Power (WHAUP), a subsidiary of Thailand’s largest industrial land developer WHA Corp, is set to invest 2.3 billion baht to bolster its operations and meet the rising demand for water and renewable energy in Thailand and Vietnam. A significant portion of this budget will be directed towards expanding renewable energy, aiming to achieve an electricity generation capacity…
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Political payout: Listed companies to rake in the baht
Listed companies across a swath of sectors are set to cash in big, thanks to the Pheu Thai-led administration’s progressive new policies, Bualuang Securities (BLS) revealed. The brokerage is urging investors to zoom in on mid-cap stocks, particularly in retail, consumer goods, food, finance, construction, transport, tourism, and healthcare. The launch of Vayupak Fund units has already sent the Stock…
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Accor flies high: Premium brand expansion takes off in Thailand
Global hospitality titan Accor is firing on all cylinders as it accelerates the rollout of its premium brands in Thailand and across the globe. The move is fuelled by bullish forecasts for booming travel over the next decade, with the company setting its sights on high-potential markets such as India’s growing middle class and China’s robust outbound travel scene. Karelle…
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Thailand’s ‘Wellness on a Plate’ campaign serves up health benefits
The Tourism Authority of Thailand (TAT) is cooking up something special! In a bold move, the TAT has launched a dazzling new campaign titled Wellness on a Plate, spotlighting the health perks of Thailand’s eclectic culinary delights. Aiming to marry the nation’s rich food culture with wellness tourism, this initiative promises a feast for both the senses and the soul.…
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Thai-riffic tech boom: Chinese software firms set sights on Thailand
Chinese software companies are increasingly setting their sights on Thailand, recognising it as a key market for digital growth. Many of these firms, mostly small and medium-sized enterprises (SMEs), started by providing cloud-based solutions to Chinese online merchants in Thailand. Their offerings include sales order management, inventory control, and accounting software. In a sign of the times, Chinese food delivery…
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Thailand’s tourism shake-up: Private sector dives into man-made marvels
Thailand is gearing up to revamp its tourism scene with a fresh array of man-made attractions, and the private sector is already jumping on board. The government is drawing up plans for entertainment complexes that will include legal casinos, marking a bold new direction for the country’s tourism strategy. Private firms are keen to get in on the action. Asset…
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Understanding the costs of renting in Dubai: A guide for Thai expats
Particularly for Thai expats who might not be familiar with the local rental market, renting a property in Dubai can provide both an exciting prospect and a challenging process. Dubai presents a wide spectrum of properties, from opulent villas to trendy apartments, but it’s important to grasp the whole range of expenses required outside just the monthly rent. The article…
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ETDA plugs in: Powering up Thailand’s digital economy for 2024
Thailand’s Electronic Transactions Development Agency (ETDA) unveiled plans to further its role as a co-creation regulator and promoter next year, aiming to boost the digital economy’s value and generate positive social impact. The ETDA intends to enhance the nation’s digital infrastructure, focusing on promoting e-document management, improving governance of digital platform services, and leveraging artificial intelligence (AI) for good governance…
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Thai Finance Ministry enhances data use for economic growth
The Ministry of Finance is advancing its data utilisation efforts to develop comprehensive profiles of Thai citizens’ liabilities and assets, aiming to bolster economic development. Permanent Secretary Lavaron Sangsnit revealed that creating a data lake will enable the government to craft improved national development policies and identify regional strengths and weaknesses. This system will consolidate diverse information about citizens, including…
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Grab Thailand launches new cash loans for partner merchants
Grab Thailand announced a revamped portfolio of cash loans aimed at its partner merchants, offering three distinct loan products to cater to businesses of all sizes. The new offerings include loan amounts up to 10 million baht with interest rates capped at 1% per month for larger businesses. The initiative aims to boost working capital, enhance liquidity, and support entrepreneurs…
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Thailand plans post-flood tourism campaigns for northern provinces
The Tourism Authority of Thailand (TAT) is preparing tourism campaigns and promotions to aid affected provinces flooded in Thailand once the situation improves. Severe floods have ravaged 27 provinces, including key northern and central regions like Chiang Rai. These floods led to the cancellation of domestic flights to Mae Fah Luang Chiang Rai Airport yesterday afternoon. TAT Governor Thapanee Kiatphaibool…
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Bullion on the rise: Gold takes centre stage amidst Fed rate cut
Gold prices surged over 1% to hit a record high today, driven by the anticipation of an impending interest rate cut by the Federal Reserve following signs of a slowing US economy. In early trading in New York, spot gold increased by 1.6%, reaching US$2,551.19 per ounce. Concurrently, US gold futures rose by 1.4%, settling at US$2,578.90. Thai gold selling…
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Thailand’s economy to see 2.5% growth in 2024, EIC forecasts
Thailand is projected to experience a soft economic landing next year, according to the Siam Commercial Bank’s Economic Intelligence Centre (SCB EIC). The research centre has maintained its 2024 economic growth forecast for Thailand at 2.5% but has downgraded its 2025 outlook to 2.6%, down from previous forecasts of 2.9 to 3%. EIC chief economist Somprawin Manprasert explained that the downward…
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