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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Number of foreign companies investing in Thailand up over 100%
Foreign investment in Thailand has grown by 106% according to the National News Bureau of Thailand, with officials rolling out a number of measures to make foreign investment less complicated. The latest increase is despite a fall in the number of foreign companies approved to carry out business in the Kingdom – down 23% from last year. Poonpong Naiyanapakorn, deputy…
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Officials carry out spot-checks on silly-season gift baskets
PHOTO: 77jowo.com You’re only weeks away from receiving a few of those plastic-wrapped and ribboned baskets of unwanted goodies for the silly season – but do you wonder what’s inside most of them? Now officials are making a list and checking it twice… Officials in Bangkok are out and about checking those prized Christmas and New Year gift baskets to…
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HADO introduces augmented reality e-sports at SHOW DC, Bangkok
It’s the first physical e-sports centre for Thailand and the largest in Southeast Asia. Bangkok’s SHOW DC is adding to its reputation as a state-of-the-art lifestyle and entertainment destination with the introduction of Thailand’s first physical e-sport centre. Originating in Japan, HADO is the world’s first physical, augmented reality technology, and FoodYum Company is introducing the new phenomenon to Thailand at…
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New Bangkok clinic dedicated to fixing surgery gone wrong
PHOTO: PlastyTalk The director of Yanhee Hospital in Bangkok says 50 million baht is being invested to create a centre dedicated to fixing botched surgical procedures. Dr Supot Sumritvanitcha says Yahnee Hospital will be the first facility in Thailand to offer this service. The Nation reports that the need has arisen due to illegal beauty clinics and other underground facilities…
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Huge potential for electric car industry in Thailand
Have you considered getting an electric car yet? What’s your impediment? Cost? Selection? Too ‘out there’ for you at this stage? Electric cars (EVs) are yet to go mainstream in Thailand as yet. But there is little doubt the popularity of locally built and imported EVs will rise over the next few years. There will be more choice, the cars…
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Ban on used car imports comes into force in December
PHOTO: Roni Motors Thailand “After December 10, all used vehicles imported for personal use will be confiscated and destroyed immediately.” Keerati Ratchano, the director-general of the Foreign Trade Department, says his department is gearing up for a ban on importing used cars to Thailand, to be introduced by the Commerce Ministry in December. The ban was first announced in July…
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Thai Airways says it won’t get into a price-war with other airlines
PHOTO: YouTube National carrier Thai Airways says it won’t head down the ‘price-cutting’ route to be competitive in 2020. The struggling airline says, instead, they will focus on building a solid customer base and tap specific route segments. Airline president Sumeth Damrongchaitham says the carrier will continue to recruit stronger marketing partners and estimated that the aviation industry would continue…
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Deputy PM claims US tech giants eager to invest in Thailand
The Deputy Thai PM and government ‘Finance Tzar’ Somkid Jatusripitak claims that Amazon and an unnamed American digital company are both keen to invest in the Kingdom. Somkid says both organisations have enquired about meeting the relevant ministers and have been advised to hold talks with the Finance Ministry and the Ministry of Digital Economy and Society. The Deputy PM…
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Bangkok’s office rental hot spots
PHOTO: brandinside.asia And the winner is…? A survey carried out by Colliers International (Thailand), a global commercial real estate organisation, reveals that the highest office rent in Bangkok is at Gaysorn Tower on Ratchaprasong Road. The Nation reports that premium office space in the building is leased for 1,600 baht per square metre per month. Coming in at slightly less are spaces…
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China announces policies to lure foreign investors
PHOTO: Shanghai skyline – QANTAS Are the Chinese removing layers of ‘red’ tape? China is offering 20 new measures friendly to foreign investors, removing business restrictions to encourage a more “fair, transparent and predictable” business environment. China’s State Council released a guideline pledging to shorten negative lists and eliminate restrictions, opening up more sectors to foreign investors. The Nation reports…
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SE Asian banks slowly giving way to e-payments and payment apps
PHOTO: starbucks.com That cold, hard cash in your pocket, and the traditional shop-front banks that give it to you, are slowly being phased out and replaced with e-payments. It’s now expected that traditional banks in South east Asia will miss out on as much as US$5 billion, or 14.3% of their payments revenue by 2025. A report says they are…
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Alibaba promoting Thai products to Chinese buyers
PHOTO: Jingsourcing Alibaba, the Chinese e-commerce giant, is hosting a special section on its website dedicated to Thai products. The move has now confirmed by Deputy PM and Commerce Minister Jurin Laksanawisit following a meeting with the Alibaba group at the recent Shanghai Trade Exhibition. “It will be a portal for Thai makers of quality products to access the online markets…
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Foreign investment applications rise 69% in first nine months
PHOTO: Bloomberg Thailand continues attracting foreign direct investment, with applications rising 69% in the first nine months of 2019, according the Board of Investment (BOI). Applications in the electronics and electrical sector, and the digital and automotive sectors, represented 131.78 billion baht, or 65% of the total. The value of applications, up to September this year, was 203.37 billion baht,…
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American firms want to relocate to Thailand to counter US-China trade war
PHOTO: “You’re all welcome!” – Thai PM Prayut Chan-o-cha at the ASEAN Business Summit – Bangkok Post US business leaders visiting Thailand are looking for opportunities, especially relocating their production bases, as they try to sort out heir businesses in the wake of the US-China trade war. The US Secretary of Commerce Wilbur Ross and executives of 16 American companies…
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New land tax forces land owners to evaluate their options
PHOTO: SCMP The new Land and Property Tax, which takes effect in January 2020, will be a challenge for the Thai property market, according to the managing Director of CBRE Thailand. In an open report to the media, CBRE says owners of vacant sites will pay significant taxes once the new law comes into effect. Many will try to avoid the…
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Thai exports will suffer from Trump labour rights decision
The Thai export sector will suffer another blow after the US President Donald Trump announced on Friday the suspension of 1.3 billion dollars worth of duty-free trade for certain Thai goods, claiming Thailand has not taken steps to protect the labor rights. In a letter to US House of Representatives Speaker Nancy Pelosi and Vice President Mike Pence, Trump said…
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Another Thai hotel management dispute flares up – The Peninsula Bangkok Hotel
PHOTO: The Peninsula Bangkok Hotel The Hongkong and Shanghai Hotels, which operates luxury brand The Peninsula Hotels, says it will “vigorously defend its rights” to manage The Peninsula Bangkok, following a legal win by the hotel’s Thai shareholder that paves the way for the management agreement to be terminated. And so the open wounds of a business saga are now…
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500 people own 36% of equity in Thai companies
Roughly 36% of Thailand’s corporate equity is held by just 500 people, highlighting wealth inequality in the Kingdom, according to a study released by the Bank of Thailand’s research institute. Each of these 500 amass some 3.1 billion baht (102 million USD) per year in company profits, according to the report from the Puey Ungphakorn Institute for Economic Research. In…
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Thai Airways must modify rehabilitation plan to survive: Airline President
PHOTO: gta5-mods.com “Thai Airways will have to modify its rehabilitation plans to survive in the face of tight competition.” This frank admission by the airline’s president Sumet Damrongchaith. The national carrier is now carrying a total debt of over 2.45 billion baht and losses of more than 20 billion, despite being able to reduce its debts by 48 billion baht…
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Thai Airways under pressure to deliver workable business plan
Thai Airways is coming under more pressure, after being given 30 days to deliver its new rehabilitation and business plans. Thaworn Senniam, the Deputy Transport Minister, gave the instruction yesterday while meeting with the executive of the national carrier for an update on its financial status. He says the business plan must provide clear information on how the fortunes of…
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Samsung Electronics flags 56% fall in third quarter profits
“Samsung took advantage of the US trade ban against Chinese rival Huawei.” PHOTO: CNBC Samsung Electronics says it expects operating profits to drop more than 50% in Q3 amid a continued slump in the global chip market. Operating profits for July to September was expected to reach 7.7 trillion won (US$6.4 billion), down 56.2% from a year earlier – this from…
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“No liquidity crunch” – Thai Airways’ President
PHOTO: Sumeth Damrongchaitham, Thai Airways’ President “Deputy PM says the rehabilitation plan had been implemented for a while now, but there was still no sign of the losses easing.” The President of national flagship carrier Thai Airways International is denying reports that it is experiencing a liquidity crunch. Sumeth Damrongchaitham claims that Thai Airways has sufficient cash flow “for present…
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PropTech company targeting global expansion? FazWaz raises Pre-Series A
FazWaz, a PropTech company focused on making real estate transactions cheaper, simpler and more efficient announced today that is has secured an undisclosed 7 figure USD amount in a pre-series A round led by a Singaporean group. The funding will enable the FazWaz Group to expand its market share in Thailand, and continue its overseas expansion into the UAE. The…
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Draft bill to inspect e-bank transfers over 50,000 baht
The Deputy Government Spokesman Rachada Dhnadirek says the Cabinet has now approved a draft bill proposed by the Anti-Money Laundering Office (AMLO) to inspect electronic transactions exceeding 50,000 baht, in a move to combat money laundering and financing of terrorists. According to international standards, Thailand has been found lacking on 17 issues in relation to preventing money laundering and the…
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Cafe Amazon brewing up a cup of coffee in China
PTT Oil and Retail Business, the owners of the Cafe Amazon brand, has opened its first branch in China. Their goal is to make the coffee chain a global brand, a sort of ‘Thai Starbucks’. The first Cafe Amazon outlet in China is located at a Sinopec petrol station in Nanning of Guangxi, in southern China on the Vietnamese border,…
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Thailand may lift ban on foreign investors for some innovation sectors
PHOTO: Marvin Meyer/Unsplash Thailand’s Commerce Ministry is considering whether to remove certain innovation-related businesses from the list of those open only to Thai citizens. The idea is being floated as a way of increasing foreign investment in Thailand, making the country a more attractive option for overseas companies. Deputy Director General of the Department of Business Development, Poonpong Naiyanapakorn says…
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Thai duty free giant King Power considers move into UK hotel industry
PHOTO: www.chillpainai.com The CEO of King Power, Aiyawatt Srivaddhanaprabha, says the group is considering a move into the hospitality sector in the UK. Speaking to the press yesterday, Aiyawatt says the idea comes at a time when property prices in the UK and Europe are dropping as a result of the global economic slowdown. “Our deal will be finalised next…
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Phuket social enterprise shop takes the first steps
PHOTOS: stepswiththeera.com A Bangkok-based social enterprise has made its debut in Phuket as it opened a new zero-waste shop, cafe and vocational training centre in Cherng Talay. The shop is run by Steps With Theera and provides a range of plastic substitutes including bamboo straw sets, bamboo toothbrushes and SuperBee wax wraps, alongside a refill station with beauty products from…
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Industry group calls for further cut in Thai policy interest rate
“Thai private sector, recently adjusted downward the export growth projection for this year to 2.9 – 3%.” The Federation of Thai Industries have their hopes set on the Monetary Policy Committee of the Bank of Thailand making another cut in the policy interest rate, currently set at 1.5%. With the US Fed looking to drop its interest rate this week,…
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Laguna Angsana Resort opens conference and exhibition venue
by Bill Barnett of c9hotelworks.com Laguna Phuket’s Angsana resort is set to debut it’s new 1,500 square metre conference and exhibition space. It’s actually a renovation and rebranding of the successful Laguna marquee space and relocated to a more permanent location within the Angsana Laguna Phuket complex. Tagged as ACES, the venue will open at the end of September. For…
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