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 Do foreigners get free healthcare in Thailand?
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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Startups urge inclusion in Thai digital wallet scheme
Startup communities are urging the Finance Ministry to include them in the government’s upcoming digital wallet scheme. They see this as a pivotal chance to promote the adoption of digital technologies among small and medium-sized enterprises (SMEs), fostering digital transformation. President of the Thai Startup Trade Association Yutthana Srisavat, alongside Pawoot Pongvitayapanu, a leading figure in the startup ecosystem has…
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Thai hotels urge reform of unfair land and building tax rates
Hotels are calling for a revision of the property tax calculation based on land appraisal prices and business income to address the uneven recovery within the hospitality industry. President of the Thai Hotels Association (THA) Thienprasit Chaiyapatranun highlighted that the land and building tax remains a significant challenge for hotel operators. This year, the full rate is set to be…
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Indonesia seeks Tesla EV battery plant with Musk’s interest
Indonesia is once again courting Elon Musk’s interest in establishing an electric vehicle (EV) battery plant within its borders. After meeting with President Joko Widodo, the CEO of Tesla, Elon Musk, is set to consider the proposal, as confirmed by Indonesia’s Coordinating Minister of Investment, Luhut Pandjaitan. Musk’s immediate response was not available following the announcement made by Luhut to…
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Thai PM explores potential projects with Italian investors in Milan
Prime Minister Srettha Thavisin embarked on a visit to Milan, Italy, where discussions with prominent investors from financial institution Intesa Sanpaolo highlighted potential avenues for collaboration on key infrastructure projects in Thailand. During his meetings, the 62 year old Thai prime minister disclosed plans regarding the Land Bridge project and the possibility of hosting a Formula One race in Thailand.…
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Vietnam prioritises economic growth despite global challenges
Vietnam will focus on bolstering economic growth despite ongoing challenges from weak global demand, announced Deputy Prime Minister Le Minh Khai. Addressing the National Assembly during its summer session, Khai noted that while gross domestic product (GDP) growth has improved, significant hurdles remain. Industrial activity is recovering, albeit at a slow pace. Vietnam, now a manufacturing hub benefiting from shifting…
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Thailand’s economy grows 1.5% in Q1, beats forecasts
Thailand’s economy experienced a robust start to the year, expanding by 1.5% in the first quarter compared to the same period last year, according to official data released yesterday. This growth surpassed analysts’ expectations, indicating a positive shift for Southeast Asia’s second-largest economy. Every quarter, the economy grew by a seasonally adjusted 1.1% from January to March, as reported by…
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Thailand’s future depends on nurturing innovative talent
Thailand’s future hinges on becoming a dynamic centre of innovative talent and progress. The pivotal element in realising this vision lies in securing the right talent—those who bring ideas to life and spearhead transformative change. Throughout a lengthy career, it has been evident that exceptional talents do not merely meet expectations, they redefine them. Good performers play their roles well,…
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Thai industries launch initiatives to boost SMEs post-pandemic
New initiatives by the Federation of Thai Industries (FTI) aim to bolster local entrepreneurs, particularly small and medium-sized enterprises (SMEs) still grappling with the effects of the pandemic. The FTI is focusing on critical sectors such as agribusiness and the auto parts industry to foster resilience and growth. Efforts are being made to help SMEs become more competitive through the…
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Thailand aims for 7.5 billion baht from foreign filmmakers this year
Thailand is making a concerted effort to boost its economy by attracting international filmmakers to its scenic and diverse locations. The Tourism and Sports Ministry has teamed up with the Culture Ministry to promote these film locations, aiming to generate 7.5 billion baht (US$206.5 million) in earnings from foreign film companies this year. The collaborative effort was highlighted at the…
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PM backs Phu Kradueng cable car project to boost tourism
Prime Minister Srettha Thavisin expressed his support for the long-awaited cable car project at Phu Kradueng National Park in Loei. During his official visit to Italy, he met with Leitner, an Italian-based ropeway company, to discuss plans for building electric cable cars. Leitner, which had already contracted with the Thai government for the cable car and ropeway sales, received praise…
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Thai PM introduces indigo fabric to top Italian fashion houses
Prime Minister Srettha Thavisin has introduced Thai indigenous indigo-dyed fabric to leading Italian fashion ateliers as part of the government’s initiative to boost fashion commerce and trade exchanges with Italy. Currently on an official visit to Italy until May 21, the 62 year old prime minister met with fashion heavyweights Zegna and Loro Piana, and engaged in discussions with the…
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NBTC crackdown on online scams: 106 million mobile numbers under scrutiny
Scammers in Thailand use SIM cards registered under other people’s names to call potential victims and lure them into sending money or take control of their phones remotely to steal money with banking apps. The NBTC is working with banks and mobile network operators AIS and True to ensure that connected phone SIM cards and mobile banking accounts are registered…
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Trendy Thai festival takes Shanghai by storm
Shanghai’s Super Brand Mall buzzed with excitement as the much-anticipated Thai Festival 2024, themed Trendy Thai, kicked off last Friday, May 10. During the opening ceremony, Prinat Apirat, Thailand’s Consul General in Shanghai stated that the festival serves as a bridge connecting rich cultures and peoples, fostering mutual understanding, appreciation, and an enduring friendship. The three-day extravaganza, which ran from May…
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Mango mania: Thailand’s sweet export boom
Thailand’s mango exports soared by a staggering 130% in the first quarter of this year, reaching an impressive 1.6 billion baht, compared to the same period last year. Not to be outdone, exports of sticky rice saw a notable increase of 13%, totalling about 1 billion baht. Chotima Iemsawasdikul, the Director-General of the Trade Negotiations Department, attributed this surge to…
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Thai betel nut exports hit by India tariffs and Myanmar conflict
Thai betel nut exporters are currently facing significant challenges due to tariff barriers imposed by India and the ongoing armed conflict between the Myanmar military and rebel forces. Betel nuts, also known as areca nuts, are widely chewed for their stimulating effects across many Asian countries, including Bangladesh, Myanmar, Cambodia, Thailand, and Laos. However, the nuts are classified as a…
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Home loan difficulties lead to six-year low in housing transfers
Difficulties in securing home loans have led to a significant decline in housing transfers across the country in the first quarter, reaching the lowest level in six years and marking the fifth consecutive quarter of decline. The Acting Director-General of the Real Estate Information Center (REIC) Vichai Viratkapan reported that residential demand nationwide contracted in the first quarter, with housing…
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Taxing times: Local governments urged to ‘build’ a better law
Local governments must take a more active role in revising the land and building tax law, which has been in effect for five years, according to the Director-General of the Fiscal Policy Office, Pornchai Thiraveja. Pornchai stated that the Land and Building Tax Act of 2019 grants local administrative organisations the authority to collect taxes to fund local development initiatives.…
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Lamborghini to debut electric supercar in Thailand by 2028
Automobili Lamborghini, the renowned Italian luxury sports car manufacturer, plans to introduce its new electric supercar to Thailand, with a global debut slated for 2028. This initiative is part of the company’s broader strategy to reduce carbon dioxide emissions. For years, Lamborghini has been actively developing electric vehicle (EV) technology to support its goal of achieving carbon neutrality, according to…
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Thailand’s business confidence drops amid wage hike concerns
Business confidence in Thailand took a hit as the Thai Industries Sentiment Index (TISI) dropped in April, reflecting entrepreneurs’ concerns over a slew of economic pressures, including a proposed daily minimum wage increase. The TISI, a measure of the mood in the industrial sector, registered at 90.3 points, a decrease from the 92.4 points recorded in March, as reported by…
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Finance Minister, Central Bank Chief to discuss interest rates
A crucial meeting is scheduled tomorrow between Finance Minister Pichai Chunhavajira and Bank of Thailand Governor Sethaput Suthiwartnarueput to address the prevailing contention over interest rates. The government, under Prime Minister Srettha Thavisin’s directive, has been advocating for a rate reduction to stimulate the economy. In contrast, the central bank has maintained its key rate at the highest in ten…
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Gunkul Engineering pulls the plug on cannabis investment
Gunkul Engineering, a Stock Exchange of Thailand (SET)-listed renewable energy firm, is halting its investment in the cannabis industry, awaiting clearer government regulations. The company, which ventured into cannabis and hemp through its subsidiary GK Hemp Group, has already spent nearly 500 million baht (US$14 million) on developing its cannabis project but is now pausing further expenditure. The firm’s decision…
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Central Retail reports 6% revenue boost to 67.3 billion baht
Central Retail Corporation‘s first quarter earnings report revealed a robust performance, with a 6% revenue increase to 67.3 billion baht (US$1.84 billion). Significantly, the company’s net profit jumped by 14% to 2.52 billion baht (US$ 70 million) compared to the same period last year. Under the leadership of Yol Phokasub, the company has seen a notable shift towards omni-channel retailing,…
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Superrich faces stalled growth as tourists prefer travel cards
Renowned local money changer Superrich Currency Exchange (1995) Co, known by its SuperRich Orange brand, has faced a challenging start to the year with its transaction growth stalling at zero during the initial four months, despite an increase in foreign travellers. The stagnation in Superrich’s growth is largely due to the rising popularity of travel card services, which are increasingly…
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Thailand introduces 10-year EEC visa to attract global talent
Aiming to bolster the Eastern Economic Corridor‘s (EEC) potential as a regional industrial powerhouse, Thailand’s Cabinet has sanctioned a novel 10-year visa specifically designed for top-level professionals and experts. The EEC visa is part of a strategic move to attract talent to the country’s targeted industries, as announced by deputy government spokeswoman Rudklao Intawong Suwankiri following a recent cabinet meeting.…
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Thailand slashes satellite slot auction prices to attract bidders
The National Broadcasting and Telecommunications Commission (NBTC) is gearing up for a new auction of satellite orbital slots at 50.5° East, 51°E, and 142°E slated for August 23 to September 7, targeting slots that remained unsold in a previous bid. The amended draft for the auction conditions, approved on May 13 by the NBTC board, aims to attract bidders with…
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Chiang Mai’s rot daeng under threat from ride-hailing apps
Chiang Mai’s iconic rot daeng, or red cars, transport service is under threat as tourists are opting for alternative modes of transport, causing local operators to urge the government for assistance. The issue was highlighted in an online debate where a Facebook user expressed concerns over the survival of the rot daeng services, which are now facing stiff competition from…
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BrewDog’s Bangkok expansion: What this means for Thai nightlife
Multinational brewery and pub chain BrewDog is shaking up the Bangkok bar scene with its latest announcement, partnering with Atalanta Hospitality to open its first bar in Thailand, part of a major push into the Asian market. BrewDog, known for its edgy branding and innovative brews, currently operates over 100 bars and hotels worldwide. Last year, it ambitiously unveiled plans…
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Johor, Singapore aim for Shenzhen-like economic zone
The Malaysian state of Johor suggested its economic and petrochemical centres as potential locations for a special zone with neighbouring Singapore. This proposal is part of Johor’s ambition to become the Shenzhen of Southeast Asia, according to the Star’s report. The proposed area will include Iskandar Malaysia and Pengerang, located on the state’s eastern coast, said Johor Menteri Besar Onn…
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Former executive brings fresh perspective on talent management
A former corporate executive and business consultant, with over 15 years of experience working across various industries, recently transitioned into writing business articles and offering expert commentary on business-related matters. With a newfound focus on continuously evolving business strategies and management principles, the 42 year old former executive now leverages in-depth knowledge of market trends to decipher the complexities of…
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Golden stability: Prices hold firm above US$2,300 despite brief dip
With a steady hold above US$2,300 during the early days of May, gold prices remained relatively unchanged, following a brief dip to the lowest level since the start of April. The first half of this year is anticipated to experience intense volatility in prices owing to factors such as the US economic health, global interest rate fluctuations, and the Middle…
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