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 How to reduce out-of-pocket medical expenses in Thailand?
Managing medical expenses in Thailand is important as healthcare costs continue to rise. The country’s healthcare system includes both public and private options, but even with the Universal Coverage Scheme (UCS) for citizens, many still face high out-of-pocket medical expenses....
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Tax exemption for corporate insurance payouts amid flood recovery
The Cabinet has sanctioned a tax exemption for corporate income derived from insurance payouts for policyholders impacted by this year’s floods. Government spokesman Jirayu Houngsub announced after the Cabinet meeting that companies in flood-affected areas with insurance coverage against floods will have their insurance payouts exempted from income tax, as per the Finance Ministry’s directive. For business operators needing loans…
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Commerce Ministry launches economic recovery plan to aid SMEs
The Commerce Ministry is collaborating with government agencies in Thailand to roll out a nationwide economic recovery initiative over five months, aimed at assisting small businesses, easing expenses, and reducing the cost of living. Commerce Minister Pichai Naripthaphan convened with over 150 representatives from private sector organisations to jointly launch the project. The discussions incorporated cooperation from both public and…
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Brick by brick: ONEAM builds investor excitement with TIREIT launch
ONE Asset Management (ONEAM) is digging foundations in the investment world, launching the Thai Industrial Real Estate Investment Trust (TIREIT) for investors seeking fresh opportunities amidst a shifting financial landscape. With high interest rates finally shifting into the rear-view mirror, savvy investors are turning to alternative assets like TIREIT to spread their risk. Chief executive Pote Harinasuta has revealed that…
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KBank ‘assets’ itself with new ventures amid rising NPLs
Kasikornbank (KBank) is shaking things up and eyeing new profits by tackling its bad assets head-on via joint venture asset management companies (JV-AMCs), as non-performing loans (NPLs) climb higher across the banking scene. Rungruang Sukkirdkijpiboon, KBank’s co-President, spilt the beans that the bank is launching a fresh JV-AMC in partnership with Bangkok Commercial Asset Management (BAM), adding to its current…
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Fuel’s gold: Bangchak to fry high with sustainable jet fuel from cooking oil
Bangchak Corporation, one of the big dogs on the Stock Exchange of Thailand (SET), is turbocharging its efforts to collect used cooking oil, aiming to transform it into sustainable jet fuel (SAF) by next year—a first-class upgrade for greener skies. BSGF, Bangchak’s SAF-producing brainchild, has penned a memorandum of understanding (MoU) with New Biodiesel to scoop up used cooking oil…
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Thai execs ‘gen’-erate buzz, placing big bets on AI for success
In a bold business move, executives in Thailand are betting big on generative artificial intelligence (GenAI), catapulting it to the top of their corporate agendas, reveals a sizzling study by global CRM giant Salesforce. Amidst economic turbulence, Siddharth Rastogi, Salesforce’s vice-president for the ASEAN, insists it will work. “We’ve got the magic mix for AI adoption, thanks to the nation’s…
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Bank of Thailand to keep rates steady amid US Fed caution
Analysts predict the Bank of Thailand will maintain its policy rate during its meeting tomorrow, citing a recovering domestic economy and potential changes in US Federal Reserve interest rate cuts if inflation revives. Chaiyot Jiwangkul, head of research at Krungsri Securities (KSS), attributed the economic rebound to increasing tourist arrivals, government budget disbursements, and a 10,000-baht (US$300) cash handout to…
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Thailand to explore new tax system for ageing population
Thailand must urgently adjust its tax structure and increase tax participation to address future expenses related to its ageing population, according to Deputy Finance Minister Julapun Amornvivat. The Finance Ministry is exploring a negative income tax (NIT) system to assist individuals with incomes below a government-set threshold. Julapun clarified that the goal is to ensure residents can sustain their livelihoods,…
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Rain check: Hua Hin and Cha-am tourism ready for holiday splash
Heavy rain in Hua Hin and Cha-am are anticipated to impact tourism during the upcoming three-day holiday, potentially worsening domestic sentiment. The Tourism Authority of Thailand (TAT) identified natural disasters as a critical factor to monitor during the high season. Earlier this week, continuous rainfall led to flooding in Cha-am, Hua Hin, and parts of Phetkasem Highway, with water levels…
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Stocking up: Thai market on a roll with Vayupak, ESG fund boost
Thai stocks are poised for continued growth in the fourth quarter, driven by incremental investments in the state-run Vayupak Fund and tax-saving Thai ESG funds, according to the Stock Exchange of Thailand (SET). SET President Asadej Kongsiri revealed that retail investor participation has surged, now accounting for 52% of trades, up from just under 50% in the preceding months. An…
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Economists urge Bank of Thailand to maintain independence
Economists are urging the Bank of Thailand to maintain its independence, emphasising its importance for the nation’s economic stability and growth. Nonarit Bisonyabut, a research fellow at the Thai Development Research Institute, pointed out that globally, countries with autonomous central banks tend to achieve better economic stability, lower inflation, and stronger economic growth compared to those where central banks lack…
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Don’t ban TEMU: Thai experts call for enhanced trade standards
Thailand should embrace trade opportunities with China rather than follow Indonesia’s lead in banning the Chinese e-commerce platform TEMU, say experts. In light of Indonesia’s recent decision to prohibit the TEMU application, the International Institute for Trade and Development (ITD) voiced its opposition to a similar move by Thailand. Wimol Pankong, Deputy Director (Academic) of ITD, urged the Thai government…
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Thailand’s tourism confidence index drops amid floods, economy
Thailand’s tourism confidence index for the third quarter saw a significant drop year-on-year, remaining below the benchmark due to challenges such as factory closures, rising unemployment, increasing non-performing loans, and severe flooding both domestically and internationally, according to the Tourism Council of Thailand (TCT). The TCT has scheduled a meeting with the Tourism Authority of Thailand‘s board chairman tomorrow to…
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5 tips for a professional headshot
A professional headshot is more than just a photo – it’s an important tool for making a strong impression in the digital world. But if you’ve never had a professional headshot taken, the thought of getting one might intimidate you a little bit. Here are five tips to help you capture a headshot that shows you in your best light…
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Power play: B.Grimm sets sights on electrifying China and Greece
B.Grimm Power appears to be on a mission to take over the global energy scene, with China and Greece now in its sights. The Thai energy giant is exploring renewable projects in these two countries, aiming to add several hundred megawatts to its portfolio. CEO Harald Link teased the plans but kept most details under wraps, stating that talks were…
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Thai Vietjet’s foreign pilot plan under scrutiny by AirAsia executive
The Airlines Association of Thailand (AAT) deemed Thai Vietjet’s request to allow foreign pilots to fly domestic routes via a wet lease arrangement as acceptable, citing its temporary nature. However, an AirAsia executive has expressed strong opposition to this proposal. AAT President Puttipong Prasarttong-Osoth says he sees the wet lease arrangements as a win-win situation, as airlines can temporarily increase…
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Thailand eyes higher inflation target to push for rate cut
Sources familiar with the discussions have revealed that Thailand’s Finance Ministry plans to propose an increased inflation target of 1.5% to 3.5% for the coming year. This move is likely to exert additional pressure on the central bank to lower its key interest rate. Talks between the Finance Ministry and the Bank of Thailand (BoT) to finalise this new price…
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Green dreams: EU-ASEAN leaders forge path to eco-future
Top EU-ASEAN business leaders and cooperation agencies came together for a high-powered Partners’ Dialogue forum to tackle the opportunities and challenges of ASEAN’s green transition. The event was hosted by none other than the European Union’s Ambassador, H.E. Sujiro Seam. Representatives from EU-ASEAN institutions, member states, businesses, and cooperation agencies gathered to share insights and experiences on ASEAN’s journey towards…
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Crypto mania: Bitcoin set to skyrocket as interest rates plummet
Merkle Capital is forecasting a surge in Bitcoin prices and a flurry of cryptocurrency investments this month, thanks to the global trend of dropping interest rates. Investment wizard Woramet Chansen from Merkle Capital spilled the beans, noting that Bitcoin’s price rocketed over 25% in September. This came hot on the heels of the US Federal Reserve’s first rate cut in…
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Middle East tensions may impact OFFO’s debt repayment strategy
Rising tensions in the Middle East, particularly between Israel and Iran are anticipated to push global crude oil prices higher, potentially impacting the Oil Fuel Fund Office’s (OFFO) debt repayment strategy, according to a spokesperson from the Energy Ministry. Uncertainty surrounds whether the United States will back potential Israeli strikes on Iran’s oil infrastructure, raising concerns about oil price volatility,…
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Vietnam records highest GDP growth in two years despite typhoon
Vietnam achieved its highest economic growth in two years during the quarter ending in September, driven by robust exports, industrial production, and an increase in foreign investment. This positive development comes despite the devastating impact of Typhoon Yagi, Asia’s strongest typhoon this year. The General Statistics Office reported a 7.4% year-on-year growth in gross domestic product (GDP) for the third…
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Thailand cash handout to boost Q4 GDP growth despite challenges
The Thai government’s initial cash handout is anticipated to boost the national economy in the upcoming months, according to industrial leaders and brokerages. They recommend that the second phase of the handout target individuals with higher purchasing power to prolong economic stimulation. In the first phase, the government distributed 10,000 baht in cash to each of the 14.5 million welfare…
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Thai Airways’ growth strategy takes off
Thai Airways International (THAI) is set to transform some of its business units into subsidiaries as part of its growth strategy. Chai Eamsiri, THAI President, announced the plan, emphasising the potential for various business units to operate independently. Chai highlighted the initial focus on the aircraft maintenance and catering divisions, which boast an estimated average profit margin of nearly 20%…
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Rice to the occasion: Thai prices drop as India returns to the market
Thai white rice prices have started to fall after India decided to resume non-basmati white rice exports. Despite this development, this year’s rice export volume remains unaffected, according to Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association. Chookiat stated that on September 28, the Indian government lifted a ban on non-basmati white rice exports that had been in…
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LINE MAN Wongnai expands food delivery across Thailand
LINE MAN Wongnai is significantly expanding in Thailand’s food delivery market, with over 10 million users monthly and more than 100,000 riders servicing all 77 provinces. Yod Chinsupakul, CEO of LINE MAN Wongnai, highlighted the continuous growth of the food delivery market in Thailand. The platform now caters to over 10 million users each month and has a rider network…
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Finance minister prioritises funding access over rate cuts
Finance Minister Pichai Chunhavajira affirmed the significance of access to funding sources over lowering interest rates. Following discussions with Bank of Thailand Governor Sethaput Suthiwartnarueput, Pichai underscored that interest rate policy remains under the purview of the central bank’s Monetary Policy Committee (MPC), which is set to convene on October 16. Describing the talks as comprehensive, Pichai highlighted various factors…
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Thailand unveils 145 billion baht cash handout to boost economy
Deputy Finance Minister Paopoom Rojanasakul unveiled a whopping 145 billion baht ((US$4.4 billion) cash handout scheme that promises to rev up the economy before the year’s end. This mega injection is set to turbocharge the nation’s GDP by a tidy 0.3 percentage points. And it’s not just a flash in the pan, the economic boost is expected to keep rolling…
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Thai businesses gear up for AI-mazing future with tech adoption plans
A recent survey reveals that approximately 17% of Thai organisations are currently utilising artificial intelligence (AI), with 73% planning to adopt the technology in the future. This data comes from the Readiness for the Application of AI Technology for Digital Services in 2024 survey, conducted by the Electronic Transactions Development Agency (ETDA) and the National Science Technology Development Agency (NSTDA).…
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Thai business group demand rate cut to keep exports afloat
Thailand’s leading business group called for an urgent reduction in interest rates, reflecting growing concerns about the impact of a rapidly appreciated baht on exports. The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) chairman, Sanan Angubolkul, highlighted the urgency for the Bank of Thailand (BoT) to adjust rates, aligning with the government’s repeated calls for monetary easing. Markets…
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Driving change: Thai tax breaks on cars for the elderly, disabled
The Excise Department is set to introduce a new ministerial regulation to waive taxes on cars designed specifically for the elderly or people with disabilities. This regulation would reduce the current excise tax rate of 25 to 40% on such vehicles. Ekniti Nitithanprapas, director-general of the department, explained that vehicles with over 10 seats, such as passenger vans, are currently…
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