Economy News
Thailand economy news, business updates, financial markets, and government policies—stay informed on economic developments shaping the nation. Get the latest from The Thaiger, your trusted source for Thailand economic news.
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Thai hotels warn of layoffs amid 400 baht wage hike proposal
The Thai Hotels Association (THA) has raised concerns about potential large-scale layoffs in the hotel sector during the low season, should the government proceed with plans to increase the daily minimum wage to 400 baht next week. The THA has submitted a petition to the prime minister, urging the cancellation of this policy. La-iad Bungsrithong, an advisor to the THA…
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Reforms urged for Bank of Thailand amid global financial shifts
The dean of the Faculty of Economics at the University of the Thai Chamber of Commerce has proposed significant changes to the role of the Bank of Thailand (BoT) to better align with internal economic dynamics and navigate global financial volatility. On June 22, Anusorn Tamajai made a suggestion yesterday, June 22, for the BoT to reconsider its exchange rate…
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Thai restaurants struggle with 400 baht minimum wage hike
The Thai Restaurant Association expressed concern about the impact of the recent decision to raise the daily minimum wage to 400 baht on the already struggling restaurant sector. This adjustment, effective from July 1, will apply to all workers in Bangkok and is extended to employees in most hotels and entertainment venues across the country. Currently, the minimum wage in…
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Thai political instability threatens economy amid US tariff concerns
Political instability between Thailand’s ruling Pheu Thai Party and its coalition partner, the Bhumjaithai Party, is expected to further weaken investor confidence. This comes amid threats of a 36% US tariff on Thai exports. Poonyawat Sreesing, a senior economist at Siam Commercial Bank’s Economic Intelligence Centre (SCB EIC), highlighted that the Thai economy has been enduring political uncertainty for some…
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Bangkok Expo 2032: Student’s bold vision could transform the city
What if Thailand finally hosted a World Expo — and it happened right in the heart of Bangkok? That’s the bold vision behind Bangkok World Expo 2032, the graduation thesis of Thanakrit Kanchanaram, a student from Chulalongkorn University’s Faculty of Architecture. His plan transforms Makkasan Station into a cutting-edge exhibition hub, making Bangkok the epicentre of innovation, culture, and urban revival. “Thailand…
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Thailand urged to unlock US$2 billion for green city investment
Thailand could unlock a flood of green investment — up to US$2 billion (approximately 65 billion baht) a year — by transforming its cities into eco-smart powerhouses, a top World Bank official told a major climate forum in Bangkok. Melinda Good, the World Bank’s Country Director for Thailand and Myanmar, delivered the bold message at the Road to Net Zero…
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Thailand SEC cracks down on margin loan misuse
The Securities and Exchange Commission (SEC) will initiate a second round of public hearings regarding tighter regulations on margin loans. This comes amid concerns that certain brokerages have allowed margin credit to be utilised for non-investment purposes. Surasak Ritthongpitak, the Assistant Secretary General of the SEC, indicated that forthcoming regulatory amendments will likely prevent securities firms from granting margin loans…
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Thailand’s 157 billion baht stimulus scramble begins
Time is running out for government agencies to grab their slice of a massive 157 billion baht stimulus budget — and if they don’t move fast, the money disappears for good. Today, June 18, Thailand’s Economic Stimulus Committee will review a long list of proposals from ministries scrambling to secure funding before the clock runs out on September 30. If…
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Cambodia bans Thai fruit and vegetables amid border dispute
In a dramatic escalation of tensions, Cambodia has slapped a ban on all imports of Thai fruit and vegetables following Thailand’s refusal to fully reopen all border checkpoints. The decision, announced today, June 17, comes after weeks of simmering tension between the two countries over unresolved border issues. Lieutenant General Sok Veasna, Director General of Cambodia’s General Department of Immigration,…
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Labour Ministry cracks down on illegal expatriate employment
Labour Minister Phiphat Ratchakitprakarn has directed a crackdown on expats working illegally in occupations reserved for Thai nationals. This decision follows over 4,400 arrests for such offences over the past nine months. Labour Ministry spokesperson Phumphat Muanchan stated that Phiphat instructed agencies to collaborate in safeguarding domestic jobs, stressing that illegal employment should not be normalised despite its widespread occurrence.…
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Thailand and US to begin trade tariff talks
Commerce Minister Pichai Naripthaphan has announced that Thailand and the United States are currently in talks, set to initiate technical-level discussions regarding the US tariff regime. Both countries have been actively preparing for these discussions, with the Thai Cabinet approving a negotiation framework last on June 10. On June 7, the US expressed its willingness to engage in talks, a…
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Thailand’s 157 billion baht stimulus budget pending approval
The government’s economic stimulus budget of 157 billion baht is pending final approval this month, while funding requests from various ministries have exceeded 400 billion baht. There is concern over transparency and the economic impact of these proposals, with fears that some projects might serve electoral or specific group interests. The Commerce Ministry requested a budget of 3 billion baht,…
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Cambodia’s Hun Sen calls for Thai film ban amid rising tensions
Cambodia is threatening to pull the plug on Thai culture and commerce as tensions with Thailand continue to boil over. Senate President Hun Sen has urged the Royal Government of Cambodia to consider banning Thai films and halting imports of Thai goods, citing rising hostility from Thai extremist groups. The bold remarks were made in a fiery social media post,…
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Thai Fruits Festival 2025 launched to boost domestic durian sales
The Department of Internal Trade (DIT) and the Thai Fresh Market Association have jointly initiated the Thai Fruits Festival 2025 by DIT to distribute quality durian and promote domestic consumption, aiming to support local fruit prices. Goranij Nonejuie, Deputy Director General of the DIT, announced the collaboration with the Yes Bang Phli market in Samut Prakan to enhance fruit consumption…
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Thai-Cambodia border tensions rattle SET index
Tensions at the Thailand-Cambodia border have unsettled investors, with the Stock Exchange of Thailand (SET) index declining by 4.8% since May 15. Krungsri Capital Securities (KCS) reported that cross-border commerce disruptions and shaken confidence in sectors linked to Cambodia, such as beverages, food, cinemas, and hospitality, are contributing factors. Carabao Group, which generates 10% of its sales from Cambodia, and…
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Thailand sukiyaki price war heats up as restaurants slash prices
Sukiyaki restaurants are slashing their prices in a fierce battle to attract customers, as tighter budgets and the sluggish economy continue to affect consumer spending. However, while the price war promises short-term gains, its long-term impact on sales and brand perception remains uncertain. Leading the charge are MK Restaurants and Suki Teenoi, two major players in the local sukiyaki scene.…
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Thailand urged to cut interest rates amid economic challenges
Thailand needs to adopt a more assertive approach in reducing interest rates due to its challenging growth outlook and low inflation, according to Somprawin Manprasert, a candidate for the position of Bank of Thailand (BoT)’s new governor. The benchmark interest rate, currently set at 1.75%, could be reduced by 75 to 100 basis points, Somprawin stated during an interview in Bangkok.…
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Phuket Port to transform into cruise and cargo hub
The Deputy Minister of Finance, Phaophum Rojanasakul, visited the Phuket Port Improvement Project in Wichit subdistrict, Mueang district, Phuket province, yesterday, May 2. The project aims to enhance the port’s capacity to accommodate large cruise ships and stimulate tourism in the Andaman region. The Treasury Department is overseeing the transformation of the Phuket Port into a tourism and cargo hub.…
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Thai coalition parties face economic challenges amid political unity
Thai politics is not at an impasse, but the sluggish economy may impact the future of the main coalition parties, Pheu Thai and Bhumjaithai, according to political economy scholar Kiatanantha Lounkaew. Despite internal tensions, these parties are united in their intent to maintain their coalition status. Kiatanantha, an economics professor at Thammasat University, in a statement shared with Bangkok Post,…
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Krungsri forecast for Thailand economic growth cut to 2.1%
Research by Krungsri has revised Thailand’s economic growth forecast for 2025 to 2.1%, down from an earlier estimate of 2.7%. This adjustment comes amid layered risks, including US trade policy uncertainties and domestic pressures. The government is advised to exercise caution in policy-making while responding effectively to rapidly evolving situations. Pimnara Hirankasi, head of economic research and executive researcher at…
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Thai business closures rise 8.3% amid economic concerns
Thailand’s business landscape is facing stormy skies as nearly 4,000 companies shut their doors in just the first four months of 2025 — an 8.3% increase from the previous year, according to the Department of Business Development (DBD). This surge in closures, with a combined registered capital of almost 16 billion baht, has alarmed lawmakers during this week’s heated budget…
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Thailand to continue US talks despite court blocking Trump’s tariffs
Thailand will continue negotiations with the US despite a US trade court’s decision to block President Donald Trump’s extensive tariffs on imports, according to Prime Minister Paetongtarn Shinawatra. The 38 year old Thai premier stated that the court’s ruling on Wednesday, May 28, is perceived as an internal US issue, adding that it remains unclear how Trump might proceed. Despite…
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Thai commerce ministry unveils 10 policies to boost exports
Commerce Minister Phichai Naripthaphan led a policy meeting at the Ministry of Commerce in Bangkok, attended by over 200 participants, including directors from the Department of International Trade Promotion and Thai ambassadors to the World Trade Organisation (WTO). The aim was to address challenges in Thai exports and present 10 urgent policies to advance international trade. The meeting saw collaboration…
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Thai PM proposes 3.78 trillion baht budget amid opposition criticism
Prime Minister Paetongtarn Shinawatra submitted a 3.78 trillion baht budget proposal for the fiscal year 2026 to the House of Representatives, initiating a four-day debate with the vote set for Saturday, May 31. The People’s Party criticised the proposal for not addressing current economic challenges, indicating their intention to reject it. Paetongtarn explained that the spending plan was crafted based…
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Thai billionaire passes empire torch to next generation
Thailand’s second-richest man, Charoen Sirivadhanabhakdi, is handing over the reins of his sprawling business empire to his five children as he steps back from day-to-day management. The 81 year old billionaire has transferred ownership of two major listed companies to his offspring, signalling a major shift in the country’s corporate landscape. According to filings made late yesterday, May 26, by…
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Thailand eyes 100,000-tonne rice boom at global convention
Thailand is actively promoting its unique and high-quality rice varieties, with expectations that the Thailand Rice Convention will result in orders for 100,000 tonnes and generate revenue exceeding 2 billion baht. During the 10th Thailand Rice Convention 2025 held in Bangkok yesterday, May 26, Commerce Minister Pichai Naripthaphan emphasised the government’s dedication to advancing Thailand’s rice sector. The Ministry of…
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Thailand tightens checks on frozen durian imports to boost safety
Agriculture and Cooperatives Minister Narumon Pinyosinwat has directed a thorough inspection of frozen durian imports to Thailand, ensuring they are contaminant-free as part of the ministry’s aims to elevate standards and boost the value of this high-demand product. Narumon has tasked the National Bureau of Agricultural Commodity and Food Standards (ACFS) and the Department of Agriculture with inspecting facilities that…
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Thailand eyes F1 street race to boost tourism and economy
Prime Minister Paetongtarn Shinawatra has indicated promising developments for Thailand as the government continues its pursuit to host a Formula 1 street circuit race in the country. Yesterday, May 24, the PM engaged in discussions with Stefano Domenicali, CEO of Formula One Group, at the Monaco Grand Prix to assess the possibility of organising an F1 race in Thailand. This…
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PM Paetongtarn pushes UK trade and jobs boost in London talks
Prime Minister Paetongtarn Shinawatra engaged the UK private sector and Thai businesses in London this week to enhance trade, promote a free trade agreement, and boost employment opportunities for Thais. The discussions on Thursday, May 22, centred around increasing the trade value of agricultural and food products and expanding import channels for Thai goods, including lifestyle products. A Thailand-UK Free…
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PTT to cut costs amid US tariffs and oil price drop
National oil and gas company PTT Plc is preparing to tackle US tariffs and a decline in global oil prices by cutting costs and enhancing operational efficiency to improve profitability. The company is also facing challenges in the petrochemical and oil refining sectors. PTT’s strategy includes three initiatives: Axis to reduce spending, D1 to foster asset synergy within the PTT…
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