investment
- Business News
Thailand’s mega land bridge project: an economic boon or environmental bane?
The Industry Ministry of Thailand is currently assessing the environmental impact of a proposed land bridge megaproject in the southern part of the country, a venture that promises to significantly bolster the Thai economy in the future. This assessment is crucial to determining the project’s viability and addressing any potential negative effects on the environment. The proposed land bridge, which…
- Business News
Bonding for the future: Thai govt sets sail with expanded issuance
The director-general of the Public Debt Management Office (PDMO) yesterday asserted that the planned issuance of government bonds in fiscal next year will be proportionate and appropriate. The limit for bond issuance for the said fiscal year has been expanded by approximately 160 billion baht. Patricia Mongkhonvanit revealed the increase is intended to counterbalance the budget deficit for fiscal next…
- Economy News
Thai-US relations: Strengthening trade ties with Estonian E-Government expertise
The Prime Minister of Thailand announced that he has plans to bolster trade relations with the United States. This comes as the two nations observe their 190th anniversary of diplomatic ties. The announcement was made following a meeting between Thai Prime Minister Srettha Thavisin, and US President Joe Biden during a gala dinner, organised by the US-ASEAN Business Council and…
- Business News
Thailand’s ‘plastic’ ambition: Industry Ministry seeks foreign investment to mould bioplastics hub status by 2027
The Industry Ministry of Thailand is being urged to devise innovative strategies in order to attract foreign investment for the nation’s burgeoning bioplastics sector. The ultimate aim is to establish Thailand as a bio hub within the ASEAN region by 2027. Viboon Pungprasert, president of the Thai Bioplastics Industry Association (TBIA), has called upon the new government to implement measures…
- Tourism News
Chaiya Pier 60m baht investment to boost Surat Thani tourism
A significant boost to Chaiya district’s tourism is on the horizon as provincial authorities of Surat Thani have earmarked a budget of 60 million baht for the construction of a new pier. The announcement came from Surat Thani governor, Witchawut Jinto, who confirmed that construction will commence shortly. The construction is said to be positioned near a public park in…
- Business News
Charged up and rolling: GAC Aion sparks production of maiden battery EVs by June 2024
GAC Aion New Energy Automobile, the electric vehicle (EV) wing of Guangzhou Automobile Corporation (GAC), China’s second-largest EV purveyor, outlined plans to initiate the assembly of its maiden battery EVs by June 2024. The production is slated to occur at the brand’s nascent factory within the Eastern Economic Corridor (EEC). Gu Huinan, GAC Aion’s managing director, anticipates the assembly of…
- Business News
Thailand’s EGCO anticipates major returns from US clean energy investment
Electricity Generating (EGCO), a subsidiary of the state-run Electricity Generating Authority of Thailand, anticipates significant revenue from its investment in Apex Clean Energy Holdings LLC. The company’s president, Thepparat Theppitak, expressed optimism about the potential benefits generated by Apex in the coming years, especially since the United States, where Apex runs its projects, is one of the world’s largest markets…
- Thailand News
Thailand’s first expressway tunnel proposed through 36 billion baht investment
The Expressway Authority of Thailand (EXAT) has put forth a proposal for an underground expressway, aiming to replace a contentious section of the N1 Expressway development. The proposal came after an extensive 17-month initial feasibility study. EXAT Governor Surachet Laophulsuk revealed this plan during the project’s second hearing, stating that multiple factors such as engineering, investment costs, and environmental impact,…
- Business News
Chery’s EV dreams charge ahead in Thailand: BoI blessings pending
China‘s Chery International, through its subsidiary Omoda & Jaecoo International Co, intends to establish an electric vehicle (EV) production facility in Thailand, pending Board of Investment (BoI) privileges. Qi Jie, Thailand’s national director at Omoda & Jaecoo International, will unveil detailed investment and business plans in the coming months. Chery, one of China’s top vehicle manufacturers, plans to introduce two…
- Thailand News
Bangkok’s multinational ambitions drive forward: BMA seeks government support
The drive to establish Bangkok as a multinational hub has gained momentum, with the Bangkok Metropolitan Administration (BMA) expressing intent to garner government backing for the initiative. Bangkok Governor Chadchart Sittipunt, yesterday, announced the intent to align the BMA’s policy with that of the government to stimulate the city’s economy and job creation. In a press briefing, Chadchart illustrated the…
- Press Room
Win 150,000 baht in prizes in DeeMoney’s short ad campaign
DeeMoney invites everyone to participate in the short advertising entries campaign on TikTok with the hashtag #DeeMoneyOWNDEEChallenge. Feel free to express your creativity for a chance to win a variety of prizes, totaling 150,000 Baht. The objective is to raise awareness among the target audience and the wider public through TikTok. SawasdeeShop, the leading Thai fintech company specializing in cross-border…
- Business News
Pheu Thai Party’s digital handout scheme could boost Thailand’s GDP by 3%
The Pheu Thai Party‘s proposed digital handout scheme, requiring around 500 billion baht, could potentially boost Thailand’s GDP growth by 3% in the next year, according to the Bank of Thailand. Sakkapop Panyanukul, the central bank‘s director of the economic and policy department, mentioned the digital handout contribution depends on the economic multiplier. The 3% GDP projection uses a cash…
- Business News
Global investors navigate high interest rates amid inflation control efforts
Amid recession concerns, inflation, and high interest rates, investors seek promising investment avenues. Stock enthusiasts believe global interest rates are close to peaking, while central banks watch inflation. The US Federal Reserve raised the federal funds rate to 5.25-5.50% in July, the highest in decades. The European Central Bank increased rates by 0.25%, and the Bank of Japan hints at a…
- Business News
Siam Cement delays SCGC IPO citing adverse economic climate
The initial public offering (IPO) of Siam Cement Group‘s subsidiary, SCG Chemicals Plc (SCGC), has been delayed. Citing the company’s large size and the current adverse economic and investment climate, the parent company, Siam Cement Group (SCG), did not provide a new timeline for the IPO. This announcement was made by Roongrote Rangsiyopash, the President and Chief Executive of SCG.…
- Phuket News
CIB arrest Phuket man for online scam they’ve tracked since 2022
Thai police have taken into custody a local man in connection with a number of online scams, the Royal Thai Police’s Central Investigation Bureau (CIB) shared in a media update. The arrest took place on Freedom Beach in Phuket, as the CIB disclosed through a post on its official Facebook page. Although the detailed report refrained from stating the family…
- 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
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…
- Thailand News
Affordable and enriched living in Thailand attracts foreign investors
Thailand is making waves on the world stage with what International Living defines as its attractive blend of enriched living at pocket-friendly costs. The gem in the Thai living appeal seems to be the lucrative real estate sector where, as International Living puts it: “Foreigners are able to buy condos very easily and there are bargains everywhere.” Along with attractive…
- Thailand News
BRT improvements: Bangkok’s bus service to continue with 455 million baht funding boost
In a bid to enhance the current quality of public transportation in the capital, the Bangkok Metropolitan Administration (BMA) has announced BRT improvement plans to continue the city’s bus service after the concession held by the Bangkok Mass Transit System Plc (BTSC) expires on the last day of August. The BMA’s commitment to maintaining and improving the BRT service was affirmed…
- 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…
- Destination Guide
What you need to know before residing in Hua Hin 2023
If you’ve heard whispers of Hua Hin, you’d be picturing pristine beach getaways enveloped in an aura of tranquillity. Unlike the bustling hubs of Pattaya and Phuket, Hua Hin retains a serene, unspoiled charm that’s truly captivating. This enchanting coastal city resides approximately 200 kilometres south of Bangkok, and not surprisingly, it’s a favoured retreat for locals and foreign visitors…
- Business News
GPSC set to invest 8.28 billion baht in India’s Avaada Energy
Embarking on a mission to bolster its renewable energy portfolio, Global Power Synergy Plc (GPSC), the power production offshoot of PTT Plc – the national oil and gas conglomerate, is looking at investing upwards of 19.1 billion rupees (roughly 8.28 billion baht) in India-based Avaada Energy Private. This investment is aimed at leveraging the upswing in electricity demand in the…
- Business News
Thailand’s real estate sector eyes foreign investment boost
With an eye on boosting the economy, real estate developers and consultants are urging Thailand‘s new government to implement policies that promote foreign investment. They believe such measures will stimulate a more positive environment for overseas buyers in the property market, suggesting promotional efforts to increase awareness among foreign investors. Artitaya Kasemlawan, head of residential sales projects at CBRE Thailand,…
- Business News
Raimon Land unveils 18 billion baht luxury projects amid bolstered high-end market confidence
Raimon Land Plc, a stock exchange of Thailand (SET)-listed property developer, is confident in the high-end residential market and revealed plans for three new luxury projects worth 18 billion baht in Phuket and Bangkok. Raimon Land plans to launch the projects in the fourth quarter. Korn Narongdej, the chief executive, made known that the luxury market proved to be resilient…
- Thailand News
ASEAN membership: Roadmap endorsed for Timor-Leste’s inclusion and Thai trade
Yesterday, a senior official at the Ministry of Foreign affairs announced that the Association of Southeast Asian Nations (ASEAN) has recently endorsed a roadmap that outlines the steps for Timor-Leste becoming its 11th member. This ASEAN membership move is expected to benefit Thailand economically by expanding trade and investment opportunities between the two nations. Timor-Leste initially submitted its request for…
- Business News
Japanese investors seek Thai tech startups for regional expansion
Thai tech startups have caught the attention of Japanese investors, who are keen to support their expansion into regional markets, according to an executive at Bank of Ayudhya (Krungsri). Southeast Asia, and Thailand in particular, are considered prime investment locations for Japanese investors, who see potential in the country’s high-growth tech startups. Bunsei Okubo, head of Japanese corporate and multinational…
- Business News
Bolt invests 300 million baht in Thai expansion amid ride-hailing competition
Estonian tech firm Bolt is set to invest 300 million baht in Thailand to bolster its presence in the country as part of its Southeast Asian expansion strategy. This move follows Bolt’s recent funding round, which raised 628 million euros at a valuation of 7.4 billion euros, earmarked for geographical growth. The company’s expansion adds to the fierce competition in…
- Property News
Foreign investors target luxury Bangkok condos, India eyes Pattaya properties
Foreign buyers are showing renewed interest in luxury condominiums in Bangkok, with potential investors primarily coming from China, Myanmar and India. Yesterday, Capital One Real Estate and its representatives have reaffirmed that Thailand’s real estate market is showing positive signs as their portfolio value is on track to reach 50,000 million baht (US$1.42 billion). As a result, foreign market sales…
- Business News
FTI seeks Chinese investment boost in Thai EV, food, and healthcare sectors
The Federation of Thai Industries (FTI) is seeking to boost Chinese investment in Thailand, focusing on the electric vehicle (EV), food, and healthcare sectors, through increased business collaboration with Beijing. Kriengkrai Thiennukul, chairman of the FTI, recently met with the Chinese ambassador to Thailand, Han Zhiqiang, to discuss potential investment opportunities. Kriengkrai envisions Thailand as a production base for Chinese…
- Business News
Japan data centre providers invest US$164m in Thailand expansion
Thailand has seen a significant influx of investment from data centre providers, with two Japan-based companies investing a combined US$164 million in the country. This comes as digital transformation and cloud computing continue to grow exponentially. Telehouse recently launched its first Thai data centre, investing US$74 million in the project. Meanwhile, NTT invested 3 billion baht through its subsidiary, NTT…
- Business News
Krungsri bank expects Thai government to boost Japanese investment
Krungsri, also known as the Bank of Ayudhya, believes that the new Thai government will continue to encourage Japanese investment in the country. Japan is currently Thailand’s largest foreign investor, contributing 28.6% of total investment, or 23.3 billion baht. As political parties form a coalition government, Japanese investors are closely monitoring the situation. Bunsei Okubo, the head of Japanese corporate and…
- Thailand News
Fraudster nabbed after swindling millions in Bangkok investment scheme
A woman sought for her alleged involvement in a fraudulent investment scheme was apprehended yesterday after evading capture for nine months. The 55 year old suspect, Pimpicha Suthornsupisal, stands accused of deceiving numerous individuals, resulting in millions of baht in losses. The arrest took place in a car park within a dormitory complex located in Bangkok’s Sai Mai district. Pimpicha,…
- Business News
Thai foreign investment outlook positive amid political shift
The Industrial Estate Authority of Thailand (IEAT) and prominent business leaders expressed optimism about foreign investment in the country this year, despite delays due to the formation of a new government. IEAT Governor Veeris Ammarapala stated that foreign investors are expected to understand the evolving political landscape in Thailand, including the transition towards a Move Forward Party-led coalition government. At a…
- Business News
Thailand investment value surges 77% with South Korea as top foreign investor
Investment in Thailand experienced a significant surge in the first quarter of the year, with a 77% year-on-year increase to 185.7 billion baht, primarily driven by 397 project proposals. The Board of Investment (BoI) revealed that South Korea emerged as the leading foreign investor during this period. Foreign investment constituted 155.2 billion baht of the total investment, marking a 115%…
- Business News
Etix Itel Bangkok invests US$20m in data centre expansion amid cloud services boom
Etix Itel Bangkok Co, the company behind the ETIX Bangkok#1 data centre, is set to invest nearly US$20 million in expanding its capacity to meet the increasing demand for cloud services and digital transformation in Thailand. The growth of the digital economy in the country has been bolstered by global cloud providers investing in the region. Nuttanai Anuntarumporn, CEO of…
- Business News
Thai tycoon’s firm doubles spending amid tourism boom and economic growth
Asset World Corporation, the property and hotel development unit owned by Thailand‘s wealthiest individual, is set to more than double its spending on acquisitions and development of hotel resorts and commercial properties this year due to the tourism boom. The company plans to invest over 20 billion baht (US$590 million) in 2023, up from around 10 billion baht last year,…
- Business News
Thailand Plus Package extension anticipated to attract 6 billion baht investment in three years
The Revenue Department anticipates that the tax measures designed to support the relocation of foreign investors’ production bases will generate investment of approximately 6 billion baht within three years, according to Deputy Director-General Vinit Visessuvanapoom. Visessuvanapoom explained that the cabinet has given its backing to an extension of the tax measures, also referred to as the Thailand Plus Package, which…
