growth

  • Business News

    Liquid dreams: Thailand’s Pilatus Marine charts global growth with 1.05 billion baht vessel acquisition

    Pilatus Marine, a SET-listed company and Thailand’s leading liquefied petroleum gas (LPG) transport operator, is set to acquire three large used liquid-carrying vessels for a total cost of 1.05 billion baht. This move is aimed at expanding their services overseas. Operating in both marine and land transport of LPG, Pilatus Marine also leases vessels to other companies. The incoming ships,…

  • Business News

    EV sales in Thailand to hit 50,000 despite auto loan regulations

    The Thailand Automotive Institute (TAI) anticipates a surge in electric vehicle (EV) sales to 50,000 units this year. This comes despite challenges such as diminishing purchasing power, rampant household debt, and the implementation of stricter auto loan regulations by banks. Last year, local EV sales in Thailand saw approximately 20,000 units sold. The popularity of EVs in the country can…

  • Business News

    Tissue dreams ahead: Kuma Thailand to build dedicated factory in five years

    Kuma (Thailand) Co, the parent firm of the Kuma tissue brand, is setting its sights on augmenting its production capabilities by developing a dedicated factory within the next five years. The goal of this ambitious project is to bolster the company’s capacity and pave the way for future product expansion in the consumer goods sphere. The director at the helm,…

  • 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…

  • Economy News

    Thailand sees tourism growth skyrocketing to 3 trillion baht in 2023

    Thailand recently experienced a surge in international arrivals, with numbers reaching 15 million within just seven months of this year, encouraging tourism growth, informed Rachada Dhnadirek, a deputy government spokesperson. She acknowledged the substantial contribution of northern hemisphere school summer breaks increasing the influx of international tourists to the vibrant Southeast Asian nation, thereby boosting tourism growth. In response to…

  • Business News

    Foodland pivots strategy targeting younger generations with Grocerant convenience outlets

    Established supermarket chain Foodland Supermarket Co implements fresh business tactics to allure the younger generations whilst partnering with property developers to inaugurate convenience outlets on housing and condominium sites. Embracing this revamped strategy, the firm has tied up within SC Asset Corporation subsidiaries, leasing out space and debuting two novel ‘Grocerant’ outlets, a subsidiary retail label within the Foodland Group,…

  • Business News

    EV Market soars as Thailand and Indonesia take the lead in Asia

    In a global trend, electric vehicles (EVs) are steadily gaining traction in the worldwide automobile market, with significant growth realised in Asia-ASEAN countries, specifically Thailand and Indonesia. This comes as per a study undertaken by the BloombergNEF research agency. Ideally placed at the forefront of Asia-Pacific transportation, Senior Analyst of BloombergNEF, Allen Tom Abraham, projected a sharp increase in the…

  • Business News

    Business diversification: Susco Beyond explores EV market amidst fluctuating oil prices

    Susco Beyond, an auxiliary affair of Susco Plc, a prominent Thai oil retailer, persists to diversify. While an integral part of their business still revolves around the oil industry, they seek to mitigate the risks associated with fluctuating oil prices through business diversification. To this end, they have turned their attention to non-oil businesses, an example of which includes their…

  • Business News

    Post-pandemic business growth: CMG aims for 20% revenue boost relying on beauty trends

    In an era marked by a surge in consumer-based beauty industry trends, Central Marketing Group (CMG), a key Central Retail Corporation subsidiary and renowned distributor of over forty top-notch global brands, targets a 20% revenue business growth for their beauty segment this year. The company’s president, Edwin Yap Hawson, notes that the anticipated business growth can be credited to inventive…

  • Pattaya News

    Pattaya officials discuss opening Dongtan Beach Road to 24-hour vehicle access

    In Pattaya, a recent meeting took place to discuss the possibility of opening Dongtan Beach Road to vehicle traffic 24 hours a day. This road, which connects Jomtien Beach to Pratumnak Soi 5, has been closed to traffic overnight for quite some time. However, due to significant growth in the area over the past year, particularly in the number of…

  • Business News

    Thai future food industry targets 5% growth amid health and eco trends

    The Thai future food industry is expected to see a 5% growth this year, as the demand for healthier and more environmentally friendly food options rises. Visit Limlurcha, president of the Thai Future Food Trade Association, highlights the potential for export growth due to global trends that are bringing about significant changes in production, economies, lifestyle, society, and behaviour. From…

  • Thailand News

    Thai travel agent group says travel restrictions hamper tourism growth

    The Thai Travel Agents Association is recognising some countries’ travel restrictions as hampering tourism growth. Charoen Wangananont, president of the TTAA, says that outbound tourism in the last two months of this year remains strong despite concerns about an economic recession. Such outbound tourism is holding steady, particularly to those destinations that currently have no travel restrictions. According to Bangkok…

  • Health

    How to combat mould in humid climates like Thailand

    The most humid parts of the world include Thailand and all of South and Southeast Asia. For those who live or travel to these countries, combatting mould becomes a mainstay task of tropical living, especially during the rainy season. According to Dr Cameron Jones, a mould problem occurs when water vapour from the humid air can condense onto surfaces, providing…

  • Hot News

    IMF says world economy about to hit recession

    The International Monetary Fund (IMF) warns the world economy will be in a recession as it downgraded global growth projections for next year. The IMF warned policymakers that a worldwide recession will occur if the fight against inflation is mishandled. The IMF’s bleak assessment comes after reviewing the World Economic Outlook report. According to The Straits Times, the report was…

  • Thailand News

    Vending machine industry sees resurgence thanks to pandemic

    While Covid-19 resulted in Thailand’s overall economy suffering, a few select industries actually saw some impressive growth. The vending machine business is booming, and with demand rising companies like Sun Vending Technology Plc (SVT) are experiencing renewed popularity. The company reported massive growth this year and is making plans to expand. Senior vice president of SVT Pitsnu Chokwatana explained that…

  • Entertainment

    Thailand’s creative industry to grow by over 3% next year

    Thailand’s Creative Economy Agency says the creative industry is expected to grow by 1.51 trillion baht in 2022, which is about 3.55%. The CEA says the growth demonstrates Thailand’s soft power and international cultural influence. But, some experts say more can be done to increase its growth, as Thailand has long been know for its exceptional tourism, cuisine, traditional medicine,…

  • Sponsored

    “No Place Like Home” – New Online Care Marketplace SAIJAI Launches Digital Start-Up in Thailand

    Press Release A new digital on-demand online marketplace named SAIJAI has launched in Thailand and is setting its sights on democratizing home care in the country. Borne from a dynamic consumer behaviour shift over the past sixteen months to home-based lifestyle needs, the start-up brand is eyeing the Care From Home (CFH) marketplace, Thailand is the first market in its…

  • Thailand News

    Despite a better performance in first quarter, Thailand’s GDP may not impress in second

    Despite performing better than predicted in the first quarter, Thailand’s gross domestic product may not be as impressive in the second quarter. As the first quarter saw a contraction of 2.6% year on year, analysts say the contraction was better than predicted. Now, an Oxford Economics report says the recent third wave in Covid-19 may prevent the GDP from seeing…

  • Economy News

    Somkid outlines a bright future for Thai economy

    Thailand is poised to soar in the global market with heightened investment attraction and a massive budget earmarked to rejuvenate the economy in the fourth quarter, as the Covid-19 pandemic eases, according to Deputy Prime Minister Somkid Jatusripitak. Mr Somkid says the government also plans to enhance financial cooperation with China and Hong Kong that will lead to business expansion…

  • Covid-19 News

    Opportunities for 2020 export growth in Thailand

    Despite the whirlwind of shutdowns, lockdowns and craziness descending on Thailand at the moment, the departments are still churning out numbers and trying to forecast the way ahead. They say that, due to the Thai baht weakening and massive government interventions around the world for both monetary and fiscal policies, there is still a chance that Thailand could reduce the…

  • Tourism News

    Myanmar tourism increases a massive 40% in 2019

    Myanmar has ranked highest among the world’s 20 quickest-growing travel destinations over the past 12 months. The report from the United Nations World Tourism Organisation. Vietnam and The Philippines are also regional winners over the past year that made it into the top 10 best performing emerging travel destinations. Myanmar Tourism Marketing, part of the Myanmar Tourism Federation, reports that…

  • Events

    2nd annual Thailand Game Expo opens at BITEC in Bangkok

    AIS and M Vision have kicked off the 2nd Thailand Game Expo at the BITEC centre (Bangkok International Trade & Exhibition Centre) in Bangna. 700,000+ visitors are expected to attend the Expo this year, which runs through to this Sunday (February 2) and product sales tipped to top 2 billion baht. The event is organised by AIS eSports. Alistair Johnston, the…

  • Technology News

    Electric vehicle registrations in Thailand rose 380% in 2019

    Electic cars (EVs) are on the rise in Thailand. The Electric Vehicle Association of Thailand (EVAT) reports a sharp increase in the number of electric vehicles registered in 2019. Department of Land Transport statistics show that, as of December 31, there were 2,854 electric vehicle registrations, including 1,572 new cars, up 380% from 2018 when only there were only 325 registered.…

  • Economy News

    Thai exports down 4.5% in October, 2.35% for the year

    PHOTO: Commerce Ministry Thai exports have crashed 4.5% for October 2019, compared with the same month last year. The total contraction in first 10 months of this year has now averaged 2.35%, and things don’t look like improving any time soon, according to the Commerce Ministry, as reported in the Bangkok Post. The director-general of the ministry’s Trade Policy and…

  • World News

    “Build ASEAN brands” says AirAsia CEO

    The CEO of AirAsia, Tony Fernandes, has told ASEAN governments to help create and strengthen “ASEAN brands” to drive the regional economy. Addressing the ASEAN Business and Investment Summit 2019, Mr. Fernandes says, although ASEAN is the world’s fourth largest economy, there are few ASEAN brands with impact beyond their national or regional boundaries. He blamed “both visible and invisible…

  • Economy News

    “Too good for its own good” – The Thai economy

    Bloomberg has written an opinion piece about the robust Thai economy, sharing its fears along with some pats on the back. “Thailand really should let its hair down. The currency is strong and the current-account surplus is big versus the neighborhood, while there’s a lot of scope for fiscal expansion. The Bank of Thailand has been grudging in cutting interest rates, in contrast to the…

  • Tourism News

    The China Syndrome, south east Asia’s tourism dilemma

    PHOTO: Lunar New Year celebrations in Bali – Jakarta Post “When China sneezes, the rest of south east asia catches a cold.” From quiet markets in Malaysia, empty rooms in Hanoi’s hotels and barren beaches in Bali, China’s economic slowdown and weakening yuan are sending shockwaves felt across south east Asia’s vacation belt. Thailand is just one of many countries…

  • Economy News

    Thai economic committee warns about stagnant growth in second half of 2019

    The Joint Standing Committee on Commerce, Industry and Banking says they’re concerned by threats to the performance of the Thai economy in the second half of this year. The office says the lack of stimulating factors and the project of an ever-stronger baht will stifle economic expansion and the economy will fail to reach targets. The JSCCIB President Preedee Daochai…

  • Tourism News

    Thai tourist numbers recover mid-year after a shaky few months in Q2

    After a few dips in April and May, tourists to Thailand flocked back, up 4.72% for July compared to a year earlier. Tourist arrivals in June were up a much more modest .89%. 3.33 million tourists visited the country during July and spent 167.3 billion baht (USD5.47 billion), up 3.11% from a year earlier. Visitors from China, where there’s been…

  • Tourism News

    Japan’s Okinawa takes on Bali and Phuket

    by Bill Barnett While Okinawa is often called the Hawaii of Japan, a changing Asian travelscape driven by low-cost airline carriers is seeing the resort destination attract a rising number of regional tourists. Last year, arrivals hit 9.84 million which is now elevating the market to the likes Asia’s twin resort icons, Bali and Phuket. Summing up the current shift…

  • Business News

    Growth of Thai economy lowest in nearly five years

    PHOTO: Supply Chain Asia The Thai economy registered growth of just 2.3% in the second quarter of 2019, compared with 2.8% in the first quarter. This is the lowest rate of growth in 19 quarters, according to Tossaporn Sirisamphan, secretary-general of Thailand’s economic think-tank, the National Economic and Social Development Board. Tossaporn warns that although the situation is not yet…

  • Technology News

    Nation Multimedia Group aims to counter tech ‘disruption’

    PHOTO: NMG group chief, Shine Bunnag Thailand’s media giant Nation Multimedia Group say they are poised to ride the new “digital wave” to tide over the industry disruption brought about by technology, group chief Shine Bunnag said while outlining his vision. Shine, who is chairman of NMG’s executive committee, said in an interview with Krungthep Turakij newspaper that with the…

  • World News

    Vietjet reports strong revenue for Q1 2019

    Vietjet has reported revenue is up by nearly 28% during the first quarter of 2019. In its Q1 (first quarter) financial report the Vietnamese budget airline says international route revenue surpassed domestic revenue reaching 55% of total revenue. In the first quarter Vietjet launched four new international and two domestic routes, a total of 111 routes in its network. Vietjet…

  • Technology News

    Thai property startup FazWaz heads overseas

    FazWaz, the Phuket startup that has built a tech-first platform to take on Thailand’s real estate giants, is announcing its overseas expansion today. The move underscores just how far and fast the company has moved since being founded in 2015 in the small beach town of Kamala in Phuket. While real estate markets go up and down, FazWaz has definitely…

  • Travel

    Strong growth from key markets compensate for slight dip in Chinese tourists

    by Thanchanok Phobut | Senior Coordinator, Thailand CBRE, international property consultants, believe that the Thai tourism market is still as resilient as ever. Earlier this year, the Ministry of Tourism and Sports announced they are expecting more than 40 million tourists to visit Thailand this year, up from the record-breaking 38.3 million last year. According to the latest figures, the…

  • Business News

    Forecasts for Thai export growth revised upwards

    The meeting of the Joint Standing Committee on Commerce, Industry and Banking has revised upwards its forecast of export growth in 2019 to between 6.5 – 7.5% from the previous forecast of between 3.5 – 4.5%. The revision is in line with export growth in the past eight months, the committee said. Growth momentum is expected to continue during the…

  • Business News

    China lowers growth targets to lowest in 28 years

    “A more complicated environment as well as risks and challenges, foreseeable and otherwise, that are greater in number and size.” by Chong Koh Ping, The Straits Times – Asia News Network China will set lower growth targets, between 6-6.5% this year, as the world’s second largest economy loses steam due to the ongoing trade war with the US along with weaker…