businesses
- Technology News
How the blockchain can benefit Thai businesses
Small to medium enterprises (SMEs) undoubtedly form the structural foundation of many global economies, they contribute up to 40% of national revenue and create upwards of 70% of employment roles. Nevertheless, they frequently encounter significant hurdles, including obtaining financial access. This is where blockchain is introduced as a catalyst for change, set to redefine the vista of the business landscape.…
- Thailand News
Thai Cabinet approves 55 billion baht lifeline for SMEs and tourism
The Thai Cabinet approved a low-interest loan programme worth 5 billion baht and a substantial 50 billion baht credit guarantee fund under the Ignite Thailand vision, aimed at bolstering small and medium-sized enterprises (SMEs). Deputy Finance Minister Paopoom Rojanasakul detailed the plan, highlighting that the low-interest loans would target tourism, wellness and medical, and agriculture and food sectors. Each borrower…
- Thailand News
Russian nominee business bust exposes 1.5 billion baht scandal
In a dramatic crackdown on illegal businesses in Phuket, 231 suspects, including 98 foreign nationals, mostly Russians, have been arrested, revealing a scandal worth over 1.5 billion baht. The Economic Crime Suppression Division (ECSD), under the directive of the Central Investigation Bureau (CIB) commissioner Police General Jirabhop Bhuridej, raided several accounting and real estate firms on the island. The operation…
- Digital Marketing
What is lead generation and how to do it
Ever been left scratching your head over the term lead generation? Don’t worry, you’re not alone. This fancy business lingo pops up a lot and if it’s got you feeling like you missed a memo, no sweat. So, what’s a lead? Well, in simple terms, it could be anyone or even an entire company that’s shown some interest in what…
- Thailand News
Huai Khwang’s food scene hit by strict regulations, eateries close
Recent developments in Huai Khwang district have seen a wave of closures across restaurant businesses including hotpot and shabu eateries. According to the Huai Khwang District Office, scrutiny has led to the discovery that many Chinese restaurants were operating without the necessary permits. The district office mandated that all eateries obtain proper licensing but this proved challenging for some. Compliance…
- Thailand News
Thai Business Department warns against online scammers
The Department of Business Development (DBD) in Thailand issued a warning to businesses, uncovering a new ploy by online scammers that could leave unsuspecting victims in legal jeopardy. DBD Director-General Oramon Sapthaveetham sounded the alarm today, urging businesses to stay vigilant or face the consequences. According to Oramon, the DBD has been inundated with complaints from businesses targeted by fraudulent phone…
- Business News
Hong Kong bolsters business links with SE Asia and Middle East
Hong Kong is set to intensify its business ties with Southeast Asian and Middle Eastern nations, as part of its contribution to China’s Belt and Road Initiative. Nicholas Ho Lik-chi, the Commissioner for Belt and Road, has identified Malaysia, Thailand, Indonesia, Vietnam, the United Arab Emirates and Saudi Arabia as key cooperation partners for the year ahead. Ho Lik-chi oversees…
- Business News
Thai Commerce Ministry set to liberalise ten service businesses this year
The Business Development Department under the Commerce Ministry is anticipated to liberalise ten service businesses within this year, encompassing sectors like telecommunications services, treasury centres, and currency exchange businesses. Director-General Auramon Supthaweethum stated that the department has already completed studies on eight of these businesses, with the remaining two set to open for public hearings soon. As soon as the…
- Business News
Wage increase: Thai businesses wary of proposed 400 baht hike
The business sector expressed concerns over the possible negative effects of the proposed daily minimum wage increase to 400 baht. The announcement, made by Prime Minister Srettha Thavisin, could lead to higher costs for consumers. Industries that rely heavily on labour, such as agriculture, food export, retail trade, and construction, would be most affected by the wage increase, according to…
- Business News
Thai business department investigates 439 firms for potential nomination violations
In a move to suppress the ‘grey’ market in the fiscal year 2023, the Business Development Department (BDD) investigated 439 companies, suspecting them of acting as nominees for foreign corporations. Interestingly, legal entities potentially involved in nominee activities were discovered in Chiang Mai and Chon Buri provinces. The BDD Deputy Director-General, Jitakorn Wongkhatekorn, revealed that the agency inspected three targeted…
- Business News
Thailand sees ten-year high in new business registrations, surpasses projections
The Business Development Department of Thailand’s Commerce Ministry reported an exceedance of its new business registration projections for the first half of the year. The original estimate of 42,000 to 45,000 new registrations translated to a practical figure of 47,286. A positive development which signals a thriving entrepreneurial climate. This buoyant climate has encouraged an upward revision of predictions for…
- Business News
SEC raises crowdfunding cap for retail investors to 50 million baht
In an effort to foster growth among startups and small to medium-sized enterprises (SMEs), the Securities and Exchange Commission (SEC) is extending the ceiling on security-based crowdfunding offers to 50 million baht for retail investors. Previously, the limit was 40 million baht. However, institutional, high-net-worth, and ultra-high-net-worth investors are not subjected to any caps. The financial regulator put forth in…
- Covid-19 News
Thai PM gives Covid curfew powers to individual provinces
Thailand’s PM Prayut Chan-o-cha is giving individual provinces the power to set curfews and other measures to contain the spread of Covid-19. PM Prayut’s Facebook page also details new guidelines for the management of hospital beds to make sure that all who are infected with the virus have access to treatment, and screening to determine whether they should be admitted…
- Songkran News
Pattaya announces plans to hold Songkran Festival
The tourist city of Pattaya is planning to hold Thai New Year, or Songkran Festival, this year as long as they receive the “go ahead” from the government. The Pattaya City Mayor, Sonthaya Khunplume, made the announcement today, saying that the water festival will be held with all the traditional activities including those taking place at temples. Songkran is the…
- Covid-19 News
54 provinces to see relaxing of disease control measures
Thailand is proposing an easing of disease control measures in 19 more provinces in an effort to resume business operations. The Centre for Covid-19 Situation Administration will consider the proposal on Monday, which would increase the number of provinces to see relaxed measures from 35 to 54. Those provinces would be listed as green zones and include: Kamphaeng Phet, Chai…
- Covid-19 News
Changes to Thai provincial Covid zones – what’s re-opening today?
There are quite a few changes coming into effect today around many of the Thai provinces. Some types of businesses will be re-opening and some restrictions are being lifted. The new measures go into effect TODAY. Here is a list from the National News Bureau of Thailand… Maximum control (Dark Red): Samut Sakhon The following locations will remain closed: Pubs,…
- Covid-19 News
13 Bangkok businesses allowed to reopen tomorrow
Tomorrow, 13 types of businesses in Bangkok are being allowed to reopen but must have strict disease control measures in place. The Bangkok Metropolitan Administration made the decision which would undoubtedly give many businesses some relief as well as potential customers. Such businesses with restrictions include: Banquet venues, which will need authorisation from BMA for events with over 300 participants…
- Thailand News
Disease control measures ease up in Samut Sakhon
Disease control restrictions are easing up in Samut Sakhon. The coastal fishing province that has been under “maximum control” since last month’s Covid-19 outbreak at a major seafood market in the province’s Mahachai area. Salons and barber shops are now allowed to open from 6am to 9pm in all districts of Samut Sakhon, but services are limited to hair cutting,…
- Politics News
Companies pull out from Trump brand after storming of Capitol incident
Corporate America is adding its weight in response to the insurgency at the Capitol building on January 6, and are pulling out from any association with the Trump brand after the storming of the capitol incident which economists say will have a profound medium and long-term effect on his business interests. Recently, Signature Bank closed Trump’s personal accounts and the…
- Tourism News
Krabi’s Ao Nang businesses shut up or sell up
Ao Nang, Krabi’s tourist strip, is struggling under the strain of no customers or tourists. Thai Residents reports that there are now at least 10 hotels up for sale valued at billions of baht. Businesses and hotels along the popular Ao Nang tourist strip have been shutting down because of the prolonged closure of Thailand’s borders to general tourism. Even…
- Tourism News
Pattaya springs back to life over the long weekend, more to come
Pattaya, struggling along for the past 7 months with a handful of domestic tourists and Bangkok weekenders, has had its busiest weekend for a long time, albeit a long weekend created by the public holiday in commemoration of King Chulongkorn. Much of the increased traffic were Thai faces, a big change to the city’s old demographic of international tourists and…
- Phuket News
Phuket in a Covid Crisis – VIDEO
Phuket is facing an existential crisis. Because of its semi-isolation as an island, it doesn’t get much “passing traffic” and is too far away from Bangkok to attract much ‘weekend’ business. Whilst the borders stay closed the island’s businesses face ruin. A year ago, the streets of this tourist island were brimming with a diverse international tourism mix. In fact…
- Phuket News
Phuket hotels fighting for their lives as domestic tourism fails to support the island
In the wake of last weekend’s ministerial talkfest and discussions with local industry players on the island, Bill Barnett paints a bleak picture of a tourist island in freefall. All the shops, restaurants and hotels can’t remain empty, or merely keep their doors open with a handful of domestic customers, forever. Phuket’s hotel industry is reaching breaking point and drastic economic support…
- Tourism News
Tourism sector facing massive closures
Thailand’s tourism sector, long seen as a lifeline for the nation’s battered economy, is in a meltdown; more than 30% of tourism-related businesses have left the market with many more expected to follow, according to the Tourism Council of Thailand. The president of the TCT says the tourism industry predicts further deterioration after 6 months of the Covid-19 crisis, as…
- World News
India bans TikTok among almost 60 other Chinese apps
India has decided to ban almost 60 Chinese apps, including the explosively popular TikTok and WeChat, which has left millions of users reportedly startled and disappointed. The Indian government says the apps were “prejudicing the sovereignty and integrity of India, the defence of India, and the security of state and public order.” Although TikTok has refused to share any data…
- Covid-19 News
Open for business. Just about all business restrictions in Thailand lifted from July 1.
Thailand has now gone over a month without a locally transmitted case of Covid-19, and July 1, approaching quickly, will see the resumption of all businesses and activities originally suspended under the Emergency Decree, including bars, pubs and “soapy” massage parlours. Spokesman of the Centre for Covid-19 Situation Administration Dr Taweesilp Visanuyothin made the announcement yesterday. He told the media…
- World News
Justice minister targets drug money laundering
With the government struggling to find revenue streams for its economic stimulus plans to rebuild an economy battered by Covid-19, Thailand’s justice minister thinks he has an idea to help. He wants authorities to target businesses that launder drug money from the Golden Triangle and has set a target of 1.5 billion baht by August. The minister says anti-drug forces,…
- Covid-19 News
Schools, colleges, universities to reopen, restaurants and hotels can serve alcohol from Monday
The spokesman for the Centre for Covid-19 Situation Administration announced yesterday that schools, colleges and other educational institutes will be allowed to re-open on Monday, and alcohol can again be served in restaurants and hotels, but NOT in pubs, bars or other entertainment venues. The national curfew is also being lifted as of Monday. International schools and tuition schools are…
- Covid-19 News
Government to decide which “red” businesses can reopen in next phase
The Centre for Covid-19 Situation Administration revealed today that the government is now considering which high-risk or “red” businesses will be allowed to reopen under Phase 4 of lockdown easing. CCSA spokesman Dr Taweesin Visanuyothin says that the virus could be with us for months or even years, so the government must carefully consider which “red” high-contagion-risk businesses can reopen.…
- Covid-19 News
Gyms, fitness centres to reopen tomorrow nationwide
As tomorrow marks the beginning of Phase 3 of the easing of Covid-19 lockdown measures, many catgories of businesses will be allowed to fully reopen, though health and social distancing restrictions will remain in place. Fitness centres, including in malls, are included in that list. The reopening will include many new rules and regulations designed to stop the potential spread…
