Thai business
- Business News
Thai businesses urged to monitor US trade policy under Trump
The Thai Wholesale and Retail Trade Association advises local businesses to closely watch global trade dynamics and the international economy in light of Donald Trump’s recent return to the White House. This call to attention comes amid concerns about potential shifts in US trade policy that could have far-reaching impacts. Somchai Pornrattanacharoen, serving as an honorary advisor to the association,…
- Guides
Infinito helps hotels in Thailand with revenue management
Maximising revenue and profit–isn’t that the ultimate goal for every business in the hospitality industry? If you run a hotel, you might have heard that revenue management is an effective way to boost your top-line revenue. It involves using data and analytics to predict demand, adjust prices, manage risk, and distribute rooms effectively to maximise profits. Surprisingly, despite its effectiveness,…
- Business News
Krungthai Bank loan growth: No contraction in confidence
Krungthai Bank (KTB) remains confident in meeting its loan growth target for this year, despite a lending contraction during the initial six months. The bank focuses on achieving a 3% total loan growth throughout 2024, according to its President, Payong Srivanich. The Thai economy’s uneven recovery in the first half of the year and persistent uncertainties in the latter half…
- Thailand News
Thailand businesses urged to adopt same-day delivery strategies
Commerce Minister Phumtham Wechayachai urged Thai business operators to enhance their operating strategies to maintain a competitive edge. He emphasised the necessity for continuous upgrades, pointing to the success of Chinese e-commerce giants like JD.com, TikTok (Douyin), TaoBao, and Meituan, which have thrived by offering same-day delivery services in certain regions. Phumtham’s remarks came following a report from Oranuch Wannapinyo,…
- Thailand News
Food for thought: Thai restaurant operators adopt new strategies
The increasingly competitive nature of Thailand’s food industry has spurred restaurant operators to adopt inventive strategies. They are now focusing on adapting to shifts in consumer preferences and lifestyle changes, ensuring their businesses remain competitive and continue to grow, as noted by the leader of a prominent conglomerate. Nath Vongphanich, who heads Central Restaurants Group, estimated the restaurant market in…
- Thailand News
Thai products flood Vietnam: Mini Thailand Week 2024
Hundreds of Thailand’s finest commodities are set to make waves in Vietnam as the third Mini Thailand Week 2024 kicks off in the seaside city of Ha Long. The event, part of Thailand’s strategic push to integrate its businesses into Vietnam’s booming economy, kicked off yesterday, March 28, at the Centre of Planning Fair and Exhibition in Ha Long, Quang…
- Thailand News
DSI to probe Phuket businesses over potential labour law evasion
The Department of Special Investigation (DSI) has disclosed that a rigorous probe will be undertaken into nine Phuket-based businesses suspected of employing Thai nominees to evade labour laws limiting specific industries to Thai nationals only. Among these organisations is the Green Elephant Sanctuary Park, managed by Urs Fehr, a 45 year old Swiss national known for an incident last month…
- Lifestyle
Shinei Office Space, the eco-friendly coworking space for aspiring entrepreneurs
As an entrepreneur, what are your priorities when it comes to choosing an office space? Comfortable seats? Flexibility? Lightning-fast Wi-Fi? Shinei Office Space has it all and more. In a city like Bangkok, known as one of the most popular destinations for digital nomads and entrepreneurs, the demand for co-working spaces has skyrocketed. These hubs cater to a diverse clientele,…
- Business News
Thailand’s blue flag stores to become drop-off points for postal goods
The Internal Trade Department is joining forces with Thailand Post in an initiative that will see the country’s Blue Flag (Thong Fah) affordable stores used as drop-off points for goods from farmers, small and medium-sized enterprises (SMEs), and the general public. The Department Director-General, Wattanasak Sur-iam, confirmed that discussions with Thailand Post had taken place and that they were in…
- Business News
Businesses warned of risks of not adopting AI, says Stanford professor
Stanford University Graduate School of Business Professor Amir Goldberg stressed the urgency for businesses to actively engage with artificial intelligence (AI), according to a conversation with a former corporate executive. Highlighting the vital role AI plays in today’s competitive market, Professor Goldberg warned businesses of the risks of not adopting AI, likening it to a fast-moving train that cannot be…
- Business News
Changan Automobile targets selling 20,000 EVs in Thailand this year
With positive optimism about the electric vehicle (EV) market in Thailand, Changan Automobile, a renowned manufacturer based in Chongqing, China, has set an ambitious plan. The company aims to sell 20,000 EVs in Thailand within this year and has designated the nation as its strategic export hub. Shen Xinghua, who chairs Changan Auto Sales (Thailand), revealed that the Thai government’s…
- Thailand News
Thai listed companies broke records by reeling in 6.21 trillion baht last year
Thai listed companies have orchestrated a financial coup, raking in an astronomical 6.21 trillion baht from their overseas ventures last year, smashing records and defying global economic odds. The Stock Exchange of Thailand (SET) reports an eye-watering surge of 1.83 trillion baht from the previous year, making it a staggering 17-year high. Amidst the chaos of the Russia-Ukraine war and…
- Business News
Thai businesses may face wage pressure after state officials’ salary increase
The Thai Chamber of Commerce predicts a potential ripple effect on businesses, following the Cabinet’s decision to approve a 10% salary increase for state officials. The chairman of the chamber, Sanan Angubolkul, anticipates that this move may compel businesses to raise their wages to attract skilled employees. The salary increase for new state employees will result in a monthly income…
- Business News
Chinese investment in Thailand gains speed amidst economic slowdown
Chinese firms have significantly increased their investment in Thailand this year, despite China’s economic slowdown, providing a much-needed boost for the Thai Prime Minister, Srettha Thavisin. The increase in investment comes as a welcome relief amid concerns about the impacts of the world’s second-largest economy’s sluggish recovery on global growth. However, Thailand continues to appeal as a crucial investment hub…
- Politics News
Thai democracy forum echoes concerns over capitalism in politics
The struggle for democracy in Thailand remains a long and arduous one, as highlighted by a recent public forum. Held in memory of the brave students and pro-democracy protesters who perished during the military dictatorship five decades ago, the forum emphasised how little progress has been achieved since the historic October 14, 1973 uprising. The commemorative event, organised by the…
- Business News
Samyan Mitrtown thrives amid Covid-19 retail challenges, celebrates 4th anniversary
Fraser Property Commercial Thailand (FPCT) defied the odds with its mixed-use property, Samyan Mitrtown, thriving amidst the retail challenges brought about by the Covid-19 pandemic. Despite its initial launch shadowed by the established shopping culture of the Siam Square complex, Samyan Mitrtown emerged victorious, celebrating its fourth Anniversary in September with significant growth in foot traffic and a high occupancy…
- Bangkok News
Bangkok governor orders strict checks on Chinese-backed businesses after viral TikTok backlash
In light of a viral TikTok video featuring a Chinese expat’s perspective on life in Thailand, Bangkok Governor Chadchart Sittipunt issued an instruction for the Huai Khwang district chief to stringently impose laws on Chinese-backed businesses. This decision occurred yesterday and was instigated by a filmed review of Thailand’s day-to-day life from a non-Thai-speaking Chinese resident’s viewpoint. Showcasing his day-to-day…
- Business News
Thai business leaders express concern over political instability
Jitters are escalating among the business community in light of the Constitutional Court’s directive yesterday calling for the temporary removal of Pita Limjaroenrat, head of the Move Forward Party (MFP), from his role as a member of the House of Representatives. This development marks another detrimental blow for Pita, notwithstanding his party’s extraordinary election accomplishments, spurring fears of an imminent…
- Business News
High-end watch demand increases among younger Thai generation
A constant evolution and inherent value have ensured a secure niche for high-end watches in today’s market, said Narun Thamavaranukup, the managing director of watch distribution company, PMT The Hour Glass. With smartphones ubiquitous, one might think wristwatches would lose their charm. However, as Narun says, these timepieces are more than mere instruments to tell time. For Narun, watches play…
- Business News
Thai SEC seizes Stark Corporation’s assets amidst false accounting claims
The Securities and Exchange Commission (SEC) of Thailand seized the assets of Stark Corporation and some of its key personnel due to accusations of false accounting. Excessive damages have ensued following this misconduct with Stark’s debts rising above 38 billion baht as believed by the regulators. The SEC has also frozen the assets of Vonnarat Tangkaravakoon, formerly the acting chief executive…
- Business News
BEC World targets leading content provider status amid digital disruption
BEC World, the operator of Thailand‘s Channel 3, is embarking on a transformation to become a leading content provider and expand its revenue streams in the digital content platform and global content licensing sectors. Surin Krittayaphongphun, president of TV business and executive director at BEC World, said this strategic move aims to ensure the company’s survival and sustainable growth in…
- Business News
HSBC Thailand seeks licence, raises capital for local business expansion
In preparation for local business expansion, HSBC Thailand is working to raise additional funds and secure a new licence, in line with the nation’s economic growth. The bank’s capital is set to increase by 3.1 billion baht, reaching 25.7 billion, according to chief executive Giorgio Gamba. Furthermore, HSBC Thailand is seeking a new business licence from the regulator to bolster…
- Business News
Burger Thailand’s ‘kids meal’ campaign serves up a whopper of a strategy to win over youngsters
Burger Thailand, the local operator of Burger King, is intensifying efforts to appeal to children as part of its global strategy. According to the company’s general manager, Tanawat Damnernthong, children significantly influence their parents’ choices when selecting a restaurant, with families with children typically spending more per meal than working professionals. For the first time in its 23 year history…
- Business News
Thai rubber industry gets 2 billion baht boost to increase global competitiveness
The Thai Finance Ministry has joined forces with the Thai Chamber of Commerce, and the Rubber Authority of Thailand to launch the Capital Flow in Rubber Industrial Estate project, aimed at enhancing the competitiveness of businesses in the rubber supply chain on a global scale. The rubber and rubber product exports amount to over 680 billion baht annually, with more…
- Business News
Saha Group urges Thai govt to prioritise agriculture over wage hikes
The Saha Group, a prominent consumer product conglomerate in Thailand, advised the new Thai government to prioritise the promotion of the agricultural sector instead of significantly raising the daily minimum wage. The group’s chairman, Boonsithi Chokwatana, believes this approach would contribute to sustainable economic growth. Boonsithi also suggested that the government should concentrate on enhancing the economy through educational initiatives…
- Business News
Sappe Plc invests 1 billion baht in warehouse automation amidst wage hike
Sappe Plc, a leading beverage manufacturer, unveiled plans to construct an automated warehouse, establish a new production line, and implement a cost reduction scheme in response to the government’s commitment to increase the daily minimum wage. Piyajit Ruckariyapong, the company’s CEO, disclosed that the project is expected to cost around 1 billion baht between 2023 and 2024. Out of the…
- Business News
Thai e-marketplaces Shopee and Lazada shift to profitability
The e-commerce landscape in Thailand experienced a significant shift as major players Shopee and Lazada reported profits for the first time in almost a decade. This change has been attributed to careful spending, operational adjustments, and increased service fees. In 2022, Shopee recorded a profit of 2.4 billion baht, while Lazada posted a profit of 413 million baht. Shopee’s revenue reached…
- Business News
Thailand Post to launch digital mailbox service Prompt Post in Q3
Thailand Post is set to launch Prompt Post, a digital mailbox service, by the third quarter of this year. The move is aimed at capitalising on the growing trend of electronic document handling and supporting the company’s Post Digital mission. Thailand Post‘s chief executive, Dhanant Subhadrabandhu, explained that the company has been actively developing its business to offer comprehensive postal…
- Business News
Mall Group resumes Gourmet Market expansion as consumer spending rebounds
The Mall Group Co, a leading retail operator in Thailand, is set to resume the expansion of its Gourmet Market branches this year, as consumer spending shows signs of recovery in the wake of the pandemic. The company has invested 100 million baht in opening a stand-alone Gourmet Market branch at Design Village Bangna on May 7, after a three-year…
- Business News
True Axion, TV Tokyo join forces to boost Thai gaming industry globally
A strategic partnership between True Axion Interactive and TV Tokyo Corporation aims to propel the Thai gaming industry onto the international stage. True Axion Interactive, a joint venture between True Corporation and Canada’s Axion Ventures, will collaborate with the Japanese TV station renowned for its anime content to develop anime-style games, a genre gaining global popularity. The first project under…
