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’s healthcare system is well-regarded across Southeast Asia, with options ranging from public hospitals to world-class private facilities. But when it comes to foreign residents or tourists, healthcare access isn’t as straightforward. So, do foreigners get free healthcare in Thailand?...
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Thai Finance Ministry pledges market confidence amid scandal
Thailand’s Finance Ministry vows to restore confidence in the Thai capital market following allegations of fraud involving former executives of Energy Absolute (EA), a company listed on the Stock Exchange of Thailand (SET). Finance Permanent Secretary Lavaron Sangsnit expressed optimism that actions by the Securities and Exchange Commission (SEC), in collaboration with the Department of Special Investigation (DSI) and the…
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Thai tourism must shift to supply-driven strategy for 2025, says TAT
The Thai tourism industry must adopt a supply-driven strategy to enhance its competitiveness, according to the former governor of the Tourism Authority of Thailand (TAT). The TAT outlined its marketing direction for 2025, aiming to increase revenue by 7.5% from 2024, targeting 39 million foreign arrivals and 205 million domestic trips. This figure is a revision from the 220 million…
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Thailand expects 42 billion boost from French tourists post-Olympics
The Paris Olympic Games are projected to draw fewer visitors than initially expected, prompting the Tourism Authority of Thailand (TAT) to anticipate a resurgence in the French market post-event. The TAT forecasts 42 billion baht in revenue from French tourists in 2024. Soraya Homchuen, TAT Director in Paris, indicated that the French market is experiencing a lull due to two…
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Thailand launches retirement lottery to boost savings for low-income earners
The Cabinet has introduced a new savings initiative for low-income individuals titled the retirement lottery, which offers enticing prizes to encourage saving. Deputy Finance Minister Paopoom Rojanasakul announced the Cabinet’s approval of this measure, aimed at bolstering savings under the National Savings Fund (NSF) through the Retirement Savings Lottery project. The NSF will amend relevant sections of its Act to…
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Phyathai Hospital celebrates app success with healthcare promotions and benefits
Phyathai Hospital has announced healthcare promotions to celebrate 500,000 people downloading their Health Up mobile application. Until September 30, patients at Phyathai-Paolo Group hospitals can access a 2-for-1 deal on specialised medical assessments and evaluations. Individually, these services cost 5,500 THB, but users who provide proof of registering with the app can book one additional Health Up Celebration package for…
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Thailand tackles household debt crisis, slow economic recovery
The Economic Cabinet directed the Finance Ministry and the Bank of Thailand (BoT) to quickly address household debt issues, focusing on bad debts in housing, cars, motorcycles, credit cards, and student loans, amid an economy still showing sluggish recovery signs. Finance Minister Pichai Chunhavajira, after the economic ministers’ meeting chaired by Prime Minister Srettha Thavisin, stated that the premier instructed…
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Thai AirAsia seeks govt aid amid demand slump and tax cuts
Thai AirAsia, experiencing a downturn in demand during the second and third quarters of 2023, now seeks government intervention to boost the stagnant local purchasing power. Chief Executive Santisuk Klongchaiya noted that the seasonal nature of tourism has resumed, with the average load factor for the domestic market in the second quarter decreasing to 90% from 94% year-on-year. Despite the…
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US offers lower interest rates on F-16s jets to sway Thailand
The United States proposed lowering the interest rates for the Royal Thai Air Force (RTAF) to purchase F-16 fighter jets in a bid to persuade the Thai government to choose American-made aircraft over Sweden’s Gripen jets. According to a Defence Ministry source, this offer follows the RTAF’s recent announcement that it is considering the Gripen jets, following a procurement committee…
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Thai factory closures, a victim of Chinese imports surge
Chinese electric vehicle (EV) manufacturer BYD recently opened its inaugural Southeast Asian factory in Thailand, garnering considerable attention and praise for the country’s industrial foresight. However, this development also adversely affected long-established Japanese automakers, leading to a ripple effect across numerous Thai factories. A crucial development went relatively unnoticed as Suzuki Motor announced the closure of its Thai factory, with…
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Thailand disburses 3.48 trillion baht budget to boost economy
An injection of 3.48 trillion baht from the 2024 fiscal budget has finally been disbursed in the second quarter of this year, following delays that began on October 1 last year due to political setbacks after the General Election in May 2023. With economic growth stagnating, public expenditure is seen as a crucial factor to revive subdued private spending and…
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Thailand energy, finance, tourism to boost revenue in fiscal 2024
Energy businesses, financial institutions, and tourism are expected to be the primary revenue contributors for the Revenue Department this year, according to its chief. These sectors have shown strong performance and are anticipated to generate significant tax revenues during the first nine months of fiscal 2024 (October 2023 to June 2024). Revenue Department Director-General Kulaya Tantitemit highlighted that while these…
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Thai woman’s 307,000 baht debt sparks social media advice
A woman’s struggle with debt totalling 307,000 baht recently gained significant attention on social media. Earning 22,000 baht per month, she allocates 6,000 baht for rent and 3,000 baht for motorcycle loan payments. The debt, arising from six unsecured loans including credit cards and personal loans, spans multiple financial institutions. Details on monthly instalments, interest rates, or the status of…
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Centara ranked as Thailand’s strongest brand two years in a row
Centara Group has been recognised as “Thailand’s Strongest Brand” for the second year in a row by the Brand Finance Thailand 50 report. This achievement follows a series of domestic and global success as Centara continues to expand their hotel and resort locations. The Thailand 50 report Brand Finance is an international brand evaluation and consultancy agency which independently assesses…
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Thai auto parts makers pivot to medical devices amid EV shift
The Federation of Thai Industries (FTI) plans to present a proposal to the government this month aimed at bolstering the local medical device business. This initiative seeks to assist auto parts manufacturers in diversifying their operations amid the vehicle industry’s transition to electric vehicle (EV) technology. The shift in the industry provides an opportunity for auto parts makers, particularly those…
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Pink Line monorail to boost traffic to Mueang Thong Thani
Bangkok Land, a publicly traded company, anticipates that the Pink Line monorail will boost traffic and increase the occupancy rate of its exhibitions to 70% within five years. Chief Executive of Bangkok Land and operator of Impact Exhibition Management, Paul Kanjanapas reported that in the first half of the year, the company’s food, retail, and exhibition sectors met their growth…
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Chinese foreign minister calls for ASEAN regional cooperation
During a meeting between the Thai and Chinese foreign ministers to discuss the consultation mechanisms between the two nations, Chinese Foreign Minister Wang Yi emphasised the importance of upholding the ASEAN-centered East Asian regional cooperation framework and rejecting exclusive small circles. Wang and Thai Foreign Minister Maris Sangiampongsa co-chaired the second meeting between the foreign ministers. This two-day visit marked…
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Minor International celebrates sustainable business achievements
Minor International (MINT) is celebrating the efforts of businesses who have committed to sustainable growth and operating ethically. MINT, a Thai multinational company, specialises in hospitality, restaurant and lifestyle businesses located across 63 countries. Serving customers from the Asia-Pacific all the way to the America’s, MINT’s business portfolio consists of thousands of providers of food, hotels and tourism experiences. Seeing…
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Vietnam Airlines surges 179%, top-performing airline stock in 2024
Vietnam Airlines made a remarkable return to profit, emerging as the world’s best-performing airline stock this year. The state-owned carrier soared to 179% in 2024, buoyed by a resurgence in travel demand. This surge in performance has allowed the airline to post a significant first-quarter profit, breaking a streak of over four years of consecutive losses. This turnaround is particularly…
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Thai investor confidence remains neutral for 5th month
The Federation of Thai Capital Market Organisations’ (FETCO) Investor Confidence Index (ICI) maintained its position in the neutral zone for the 5th consecutive month, registering 82.89 in June. The index, which forecasts market conditions over the next three months, highlights that stimulus measures and companies’ earnings reports could potentially boost investor sentiment in the latter half of the year. FETCO…
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Thailand woos Saudi investors with EV sector opportunities
Thai officials are set to attract Saudi Arabian entrepreneurs to invest in Thailand’s S-curve industries, particularly following their interest in the electric vehicle (EV) sector. Efforts to promote Thailand to potential investors will take place during a roadshow in Saudi Arabia, while also supporting Thai businesses aiming to expand into the Middle East, according to Narit Therdsteerasukdi, Secretary-General of the…
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Thailand vehicle sales plummet 24% as debt pressures rise
Thailand’s vehicle market faces a challenging 2024 as initial optimism fades amid weaker-than-expected sales and increasing debt pressures. Vehicle sales in Thailand declined sharply by 24% year-on-year in the first four months, totalling only 46,738 units, according to the Asean Automotive Federation (Asean Autofed). This marks a significant drop from the 59,530 units sold during the same period in 2023.…
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Thai-Philippine MoUs for rice exports worth 2.8 billion baht signed
The Commerce Ministry recently facilitated a significant trade development, leading a team of rice exporters to the Philippines and securing memorandums of understanding (MoUs) valued at 2.8 billion baht (US$77 million). Ronnarong Phoolpipat, Director-General of the Foreign Trade Department, headed the delegation, which included Charoen Laothamatas, president of the Thai Rice Exporters Association, during a visit from July 3 to…
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Seoul-searching: South korea & Thailand kickstart trade pact talks
The Trade Ministry of South Korea yesterday announced the initiation of negotiations with Thailand to establish an Economic Partnership Agreement (EPA) to enhance bilateral trade and investment. The South Korean delegation, headed by Deputy Minister for FTA Negotiations Roh Keon-ki, is set to engage in discussions with his Thai counterpart, Chotima Iemsawasdikul, in Bangkok through until tomorrow, as reported by…
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Baidu’s robotaxis face backlash from Wuhan taxi drivers
Baidu’s fleet of over 500 autonomous taxis (robotaxis) in Wuhan is rapidly attracting customers, despite backlash from locals and taxi drivers. The Apollo Go service, which launched in August 2022, has become so popular in this city of 13.7 million that local taxi drivers are now urging the municipal transport authority to limit its use. In late June, Wuhan Jianshe…
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CIMB Thai Bank predicts BoT policy rate cut to 1.5% by 2025
CIMB Thai Bank (CIMBT) predicts a significant reduction in the Bank of Thailand’s policy rate by one percentage point between December and next year, aligning with anticipated cuts in the US policy rate. Amonthep Chawla, the bank’s chief economist, stated that the Monetary Policy Committee (MPC) is likely to reduce the policy rate by 0.25 percentage points in December, bringing…
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E-Foreign Business service said to simplify foreign investments
The Department of Business Development (DBD) is set to launch a new online service this month, the e-Foreign Business is aimed at streamlining the process for foreign investors to apply for business permissions in Thailand. Director-General of the DBD, Auramon Supthaweethum highlighted that the new system is designed to shorten the processing time for business registrations and reduce the volume…
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Foreign funds return to Thai stocks amid Fed rate cuts
Foreign fund inflows show signs of returning to the Thai stock market in the second half of 2024, driven by the anticipated US Federal Reserve interest rate cut, a rebounding Thai economy, and the financial results of listed companies. Soraphol Tulayasathien, Senior Executive Vice-President, highlighted that developing countries are experiencing increased production capacity for exports, signalling a global economic recovery.…
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Pol-ishing Thais: Thailand, Poland to boost medical technology ties
Thailand and Poland, despite their close trade ties, are urged to enhance their business cooperation, particularly in the medical technology sector, according to Polish Ambassador Artur Dmochowski. During a seminar in Bangkok yesterday, July 9, Dmochowski highlighted Poland‘s desire to strengthen economic, commercial, and technological exchanges with Thailand. The event aimed to showcase advancements in Polish medical technology. The Polish…
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Asia Aviation sees record earnings from China, India travel surge
Asia Aviation Plc, Thailand’s largest low-cost airline operator, anticipates record earnings from core operations this year, driven by a significant increase in international visitors, which is boosting demand for seats and airfares. According to Chief Executive Officer Santisuk Klongchaiya, Thai AirAsia, the fully-owned budget airline unit of Asia Aviation, plans to increase flights to China and India to take advantage…
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Thailand’s oil reserves expansion faces financial challenges
Plans to bolster Thailand’s strategic petroleum reserve (SPR) are encountering pushback from industry executives due to financial constraints. Thailand’s Energy Minister, Pirapan Salirathavibhaga, spearheaded an initiative to increase national oil reserve security by expanding the SPR as detailed in the 2024 oil plan. Pirapan aims to increase Thailand’s oil reserves, both crude and refined, from 50 days to 90 days…
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