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Thailand economic policy
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Thailand not planning tax on gold, trade group says
The Thai Gold Traders Association, led by President Jitti Tangsithpakdi, stated on August 27 that the government was not currently planning to implement a gold tax following a meeting with the finance ministry. While the ministry had previously indicated that a tax would be discussed to address concerns regarding illicit funds and money laundering, the dialogue focused primarily on preventing "grey" money activity. Association member Kritcharat Hirunyasiri noted that the industry opposes potential taxes, fearing they could undermine Thailand's status as a regional gold trading hub. To address regulatory concerns, the meeting explored the use of credit bureau checks for gold buyers across more than 7,000 shops nationwide.
Thailand car production rises 6.1% y/y in July
Car production in Thailand increased by 6.12 percent in July to 117,383 units compared to the same period in 2025. This growth followed a 7.55 percent year-on-year decline reported in June. The Federation of Thai Industries released these figures, noting that Thailand remains Southeast Asia's primary auto production center and a key export base for manufacturers such as Toyota and Honda.
Thailand considers private sector role in small modular reactor projects
Thai authorities expected to finalize the 2026 Power Development Plan (PDP) by the end of the third quarter of 2026, which reportedly may allow private investors to develop and operate small modular reactors (SMRs). This move aimed to replace ageing fossil-fuel small power producers (SPPs) as Thailand pursued a net-zero emissions target by 2050 and faced difficulty renewing contracts for fossil-fuel plants due to global carbon trade rules like the European Union's Carbon Border Adjustment Mechanism. Unlike intermittent solar and wind energy, SMRs could provide steady electricity and high-temperature steam for industrial use with an availability factor exceeding 90%.
Thai baht and gold prices rise amid US economic concerns
On August 25, 2026, the Thai baht reached its strongest level against the US dollar in over two months, trading at 32.58, while gold prices hit a three-month high of $2,463.36 per ounce. The US Treasury’s August 19 announcement to double the maximum size of its long-term debt buyback operations to at least $4 billion failed to calm market concerns over US fiscal deficits and national debt, leading to a weaker dollar. According to Kanajana Chokpaisarn of Kasikorn Research Center, the market interpreted the Treasury's move negatively, prompting further dollar selling. Additionally, Siriluk Pipatphakrap of Hua Seng Heng Futures noted that lower expectations for Federal Reserve interest rate hikes and increased global gold demand have further supported the rising prices.
Government prepares to defend Prime Minister's overseas trips in no-confidence debate
Thai government spokeswoman Rachada Dhnadirek announced that Prime Minister Anutin Charnvirakul’s administration prepared to defend his foreign policy and overseas trips during an upcoming no-confidence debate in parliament. Prime Minister Anutin traveled to nine countries—including France, China, Australia, and New Zealand—to promote economic resilience, regional cooperation, and investment. The government defended these visits by citing strategic gains, such as a trade partnership upgrade with New Zealand and the pursuit of Thailand’s membership in the OECD by 2028. Officials maintained that the Prime Minister’s performance should be judged by the tangible economic and security benefits resulting from these diplomatic efforts rather than the number of countries visited.
Thai authorities expand investigation into foreign nominee businesses
Thai Deputy Interior Minister Polapee Suwunchwee announced an expanded investigation into foreign nominee businesses and "grey capital" to identify illegal land ownership and ownership structure circumvention. Authorities identified over 300 entities holding land illegally in Phuket, resulting in the forced sale of over 30 companies, while uncovering 104 companies illegally holding land worth nearly 1 billion baht in Surat Thani. The investigation further revealed new schemes in Nakhon Sawan where accounting and law firms allegedly used villager identities to register companies for Chinese nationals, exposing innocent residents to legal risks. Officials are also probing connections between businesses and the Chabad network, as well as an illegal cannabis operation on Koh Phangan, while scrutinizing compliance with Board of Investment (BoI) requirements.
Rare 10-baht coin sells for 2.5 million baht in online auction
On Monday, a rare 1990 bimetallic 10-baht coin sold for 2.5 million baht during the Thai Treasury Department's inaugural electronic auction. The coin, one of only 100 produced for delegates at the 16th Mint Directors Conference in the United Kingdom, was classified as MS-66 and drew 52 bids within approximately 11 minutes. The winning bid was placed by Nattakorn Akkaramanee, chairman of 'The Coin' market, exceeding the Treasury's initial estimate of 1 to 2 million baht.
Thai authorities promote waste-to-energy plastic pyrolysis initiatives
Thai energy authorities, including the Department of Energy Business (DOEB), recently resumed efforts to promote waste-to-energy pyrolysis, a process that decomposes plastic waste at high temperatures to produce synthetic fuel. The initiative gained renewed interest as officials sought to reduce Thailand's heavy reliance on crude oil imports, which currently account for as much as 92% of the nation's total consumption. Previous efforts had declined after falling oil prices in 2008 rendered the technology less economically attractive, but the recent energy crisis triggered by geopolitical conflicts in the Middle East prompted authorities to revisit the project. Major producers such as Pyro Energy, Black Oil Pak Tai, and Thotwathaew produced a combined 31 million liters of pyrolysis fuel as of the end of 2025.
Tourism Authority of Thailand targets South Korean and Taiwanese visitors
The Tourism Authority of Thailand (TAT) and Thai travel operators were urged to shift their focus toward the South Korean and Taiwanese markets to attract younger, affluent travelers. As of July, Taiwan accounted for 608,520 tourist arrivals to Thailand, while South Korea saw 746,464 arrivals in the first seven months of 2026, marking a 21.4% decline for the latter. Adith Chairattananon, honorary secretary-general of the Association of Thai Travel Agents, cited the robust tech-driven economies and high shareholder income in these regions as prime growth opportunities. The initiative aims to capitalize on currency strength and increased consumer spending capacity in these markets to offset previous downturns.
Thailand modifies investment rules following second quarter GDP growth
Thai Deputy Finance Minister Santi Promphat announced that the government is modifying investment rules to increase the use of local supply chains and domestic materials. The Board of Investment (BoI) is adjusting its mission to emphasize investments that create value within the Thai economy, moving away from measuring performance solely by the total amount of capital invested. This shift is being overseen by a joint public-private consultative subcommittee chaired by Finance Minister Etiki Nitithanprapas. The government aims to integrate foreign investment with domestic suppliers over a three to five-year period to strengthen the core of the Thai economy.
Thailand and Singapore exchanges seek tech listings amid AI growth
The Stock Exchange of Thailand and the Singapore Exchange entered into an agreement to facilitate dual listings for technology companies. This initiative was designed to support the growth of the artificial intelligence sector.
Government to review Chana industrial estate and port project
The Thai government prepared to discuss the revival of the Chana industrial estate and a second deep-sea port project in Songkhla province during an upcoming cabinet meeting. The project, which involves a total investment value of 18.68 billion baht, was previously canceled during the administration of Gen. Prayut Chan-o-cha. Deputy Prime Minister Phiphat Ratchakitprakarn, who chaired a preparatory meeting on August 9, proposed four measures, including reviewing environmental strategic assessments and land ownership, before finalizing a decision. While private sector representatives advocated for the project to stimulate economic recovery and job creation, environmental activist Banjong Nasae urged the cabinet to obtain complete information before proceeding.
Thailand seeks to become regional distribution hub for New Zealand goods
Thai Prime Minister Anutin Charnvirakul concluded an August 17–22 visit to Australia and New Zealand, during which Thai officials engaged in talks to position Thailand as a regional distribution hub for New Zealand goods. Finance Minister Ekniti Nitithanprapas stated that Thailand aims to leverage New Zealand's agricultural expertise and food science to support Thai farm product value and improve post-harvest technologies. Discussions were already underway with G&T Global to establish a distribution center in Thailand, alongside coordination with Auckland Airport for flight slots to support the restoration of direct Thai Airways service between Bangkok and Auckland. Additionally, the Thai government sought to deepen cooperation under the existing free trade agreement, focusing on clean energy, digital skills, and agricultural labor.
Thai ice-cream brand Hawell's for sale for 165 million baht
Siripong Akkarasriyuk, founder of the Thai ice-cream brand Hawell’s, announced the sale of his business for 165 million baht as he prepares to renounce worldly life to enter the monkhood within two years. Founded in 1999, the brand achieved rapid growth before facing decline due to exclusive-use clauses enforced by major competitors in shopping malls, which ultimately reduced the company to a single standalone branch in Nonthaburi. The sale includes land, intellectual property, and recipes, alongside a proposed expansion plan that Siripong claims could generate nearly 9 billion baht in annual revenue. To facilitate the transition, Siripong offered a 5 million baht referral fee to anyone who identifies a successor capable of executing his growth strategy.
Nominee raids extend to three sites in Pattaya
On August 22, 2026, a combined team of Department of Special Investigation (DSI) officials, police, and Interior Ministry representatives raided three locations in Pattaya, including KT International Law and Business, the Shilat Avenue Pattaya Hotel, and the Cosy Beach View condominium. These searches, led by Deputy Interior Minister Worasit Liangprasit, followed investigations in Surat Thani and Phuket that identified potential violations of the Foreign Business Act 1999. Evidence suggested that Thai nationals were used as nominee shareholders for foreign beneficial owners, including an Israeli national identified as a director at the Cosy Beach View condominium. Investigators seized computers and documents for forensic examination to determine if these entities circumvented foreign ownership laws.
Thailand prioritizes transition to renewable energy
Thailand initiated a renewable energy transition program for households on July 1, 2023, aimed at reducing the country's dependence on imported oil and gas. Following rising oil prices earlier this year that pushed the current account into a 500 billion baht deficit, the government allocated half of a 400 billion baht emergency loan package to expand rooftop solar power. Poonpat Leesombatpaiboon of the Energy Regulatory Commission (ERC) stated that the initiative allows households to become "prosumers" by selling surplus electricity back to the state grid at 2.2 baht per kilowatt-hour under 10-year contracts. To support adoption, the Ministry of Finance offered tax reductions of up to 200,000 baht for systems installed between March 3, 2023, and December 31, 2026, while the Ministry of Interior planned to subsidize installation fees or down payments with 10,000 baht per household.
PTT allocates 1.01 trillion baht for capital expenditure
Thai national oil and gas conglomerate PTT Plc announced a capital expenditure programme of 1.01 trillion baht, nearly doubling its previous 2025–2029 investment budget. CEO Kongkrapan Intarajang stated that the funding, scheduled for disbursement between 2026 and 2030, aimed to reinforce Thailand's energy security, accelerate decarbonisation, and expand business operations. The investment included projects such as the Map Ta Phut LNG Terminal phase three and the South Bangkok-Bangpakong gas pipeline. PTT also indicated plans to seek new business partners and potentially sell shares in subsidiaries, including PTT Global Chemical, to strengthen long-term performance.
TPSO survey finds co-payment scheme funds used for food and essentials
The Trade Policy and Strategy Office (TPSO) surveyed 5,645 people nationwide in July 2026 to evaluate the public's engagement with the 'Thais Helps Thais Plus (60/40)' co-payment scheme. The survey found that most participants utilized the benefits for essential household goods and ready-to-eat food, with 48.22% of spending directed toward the latter category. While the scheme encouraged increased consumer spending and helped ease living costs, some non-users reported barriers such as difficulty with digital systems, smartphone requirements, or failure to meet eligibility criteria.
PM pledges review of EV incentives to support international investors
During an official visit to New Zealand on August 22, 2026, Thai Prime Minister Anutin Charnvirakul pledged to improve investment conditions for international businesses, specifically citing Japanese firms. The announcement followed reports that Indonesia was considering support measures to encourage Toyota to relocate production from Thailand. Prime Minister Anutin tasked Finance Minister Ek-niti Nitithanprapas with reviewing electric vehicle (EV) incentives to ensure all international manufacturers remain on a fair footing. Anutin maintained that Thailand's government remained committed to removing business obstacles to ensure Japan's strong manufacturing presence is preserved.
Thai steelmakers request stricter manufacturing quality regulations
Domestic Thai steel producers, led by Tata Steel (Thailand) and members of the Standard Long Steel Trade Association, recently pressured the government to implement stricter quality controls on induction furnace (IF) steel manufacturing. Producers argued that IF processes lack the chemical refining capabilities of electric arc furnace (EAF) and ladle furnace (LF) technologies, leading to hazardous impurities that pose building safety risks. Industry Minister Tuwara Sripa-archa responded by announcing that the government is conducting a feasibility study on banning IF technology by 2028. The push for new Thai Industrial Standards Institute regulations triggered a public hearing on August 17, 2026, which intensified debates between advocates for higher quality standards and smaller operators concerned about potential market exclusion.
Ministry addresses data privacy concerns regarding TH-AI Passport project
Thailand’s Ministry of Digital Economy and Society (DES) held a press conference on Friday to address public concerns regarding data privacy safeguards for the TH-AI Passport project. Permanent Secretary Patchara Anuntasilpa confirmed that all personal data, including user behavior and online learning records, will be stored and processed entirely within Thailand in compliance with the Personal Data Protection Act. The ministry stated that AI service providers are prohibited from retaining data or using it for their own training purposes, and systems are designed to mask sensitive information before prompts are sent to external AI providers. The project, which opened for advance registration on August 19 ahead of its August 31 launch, utilizes a 'pay-per-active-user' model to govern government payments to the winning consortium.
Google seeks calibrated data centre regulations in Thailand
Bryan Yee, a senior infrastructure executive for Google, stated that the Thai government must calibrate its data center regulations to balance strict oversight with the need to remain competitive for global AI infrastructure investment. Google, which announced a $1 billion investment in Thailand in 2024, warned that regulatory uncertainty or excessively rigid rules could lead capital to flow toward rival markets like Malaysia, India, or Finland. The company emphasized that predictability and transparency are vital for data center investments, which are highly mobile and time-sensitive.
Japanese retailer Aeon to sell MaxValu chain in Thailand
On September 30, Japanese retailer Aeon closed its 30-store MaxValu chain in Thailand following its sale to Central Retail Corporation. The acquisition allowed the Thai conglomerate to rebrand the locations under its existing Tops minimart banner. This exit followed years of struggle by Aeon to compete against the dominant local market presence of Central Group and Charoen Pokphand Group, which control the majority of Thailand's retail sector. Central Retail has previously absorbed other foreign-founded chains, including 200 FamilyMart stores in 2023.
Thai Airways to resume direct flights to Auckland
Thai Airways announced the resumption of direct flights between Bangkok and Auckland, a service suspended following the Covid-19 pandemic. The decision followed meetings between Thai Prime Minister Anutin Charnvirakul and New Zealand Prime Minister Christopher Luxon, during which the leaders launched a strategic partnership to deepen bilateral ties. The move aims to facilitate increased trade, tourism, and investment between the two nations, with a stated objective to triple bilateral trade by 2045.
UOB Thailand recommends gold allocation for portfolio diversification
UOB Thailand recommended that investors maintain a 5-7% allocation in gold to enhance portfolio resilience amidst global uncertainties, including higher energy costs and geopolitical tensions. Abel Lim, head of wealth management and deposits at UOB Thailand, cited sticky U.S. headline inflation at 3.5% and expected steady U.S. Federal Reserve policy as key drivers for this guidance. Furthermore, the bank forecasted that global gold prices would rise to $5,000 per ounce by 2027, surpassing its previous $4,300 estimate. While UOB maintained an overweight position in AI-related equities, Lim emphasized that portfolio diversification must now extend beyond simple asset holding to include quality corporate earnings and structural growth themes.
SCX Corporation shifts to recurring income business model
SCX Corporation, the asset management arm of SC Asset Corporation, shifted its strategy to prioritize recurring-income business models through industrial logistics and warehouse development. Under the leadership of CEO Adhachai Nangkata, the company expanded its portfolio from a 16,000-square-meter project in Nakhon Sawan in 2022 to approximately 200,000 square meters, with a long-term goal of reaching one million square meters by 2029. This growth was triggered by the rapid expansion of e-commerce during the COVID-19 pandemic and sustained demand from sectors including manufacturing, data centers, and retail. The firm currently serves 22 tenants from 10 different nationalities across seven strategic locations in Thailand.
NBTC board leadership crisis delays regulatory decisions
The National Broadcasting and Telecommunications Commission (NBTC) board failed to meet for the sixth time on August 21, 2026, due to a lack of quorum after some commissioners boycotted sessions to protest the disqualification of chairman Dr. Sarana Boonbaichaiyapruck. The leadership crisis resulted in a backlog of 52 urgent items out of 881 pending agenda matters, including decisions on a national streaming platform and a digital TV roadmap. This gridlock followed the NBTC selection panel's disqualification of Dr. Sarana for failing to resign from posts prohibited by NBTC law before the deadline.
TPIPP increases investments in renewable energy in Thailand
TPI Polene Power Plc (TPIPP) allocated 15.5 billion baht for investments in waste-to-energy projects, solar power expansion, and the replacement of coal with alternative fuels. This four-year plan, initiated in 2024, aimed to address the rising demand for clean energy from global hyperscale cloud operators and technology firms entering the Thai market. TPIPP, which currently operates renewable power plants with a combined capacity of nearly 500MW, scheduled three solar projects totaling 81MW to come online between 2024 and 2027. Additionally, the company integrated its waste-to-energy and solar facilities to offer hybrid power solutions tailored for data center operators requiring uninterrupted electricity.
Thailand partners with Canva to support creative economy
During an official visit to Australia from August 17–20, 2026, Prime Minister Anutin Charnvirakul met with Canva executives to establish a partnership aimed at strengthening Thailand’s creative economy and digital design infrastructure. The initiative, supported by the Digital Economy Promotion Agency and the Department of Business Development, intends to provide 40,000 Thai SMEs with tools to develop branding and marketing materials. Additionally, the government, in coordination with education commissions, planned to expand free access to Canva Education for students and teachers while increasing the number of Thai Canva Creators from 190 to 1,000 by 2028. The Thai government invited Canva to consider establishing a regional office and an AI-Design research center in the country to capitalize on Thailand's position as the world's sixth-largest market for the platform.
Thai Retailers Association requests government support to boost spending
The Thai Retailers Association (TRA), led by president Natha Vongphanich, requested that the government implement short-, medium-, and long-term measures to stimulate the retail sector, citing weakened consumer purchasing power driven by high household debt, which stood at 89.5% of GDP in the first quarter of 2026. The association proposed reviving the Easy E-Receipt scheme, extending the 'Thai Chuey Thai Plus' co-payment program, and introducing VAT refunds for foreign travelers to boost domestic spending. Additionally, the TRA called for stricter regulation of e-commerce marketplaces and suggested tax incentives to encourage regional investment and lower lifestyle product prices. Despite these challenges, the TRA forecasted the retail industry to reach 4.38 trillion baht in 2026, a 3% increase from 2025.
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