Insights

PRESS RELEASE Grant Thornton Specialist Advisory Services Co., Ltd. appointed as the interim executive of JKN Global Group Public Company Limited

Bangkok, Thailand, November 2025 – Business sentiment in Thailand has improved slightly but remains far weaker than in neighbouring economies. The latest Grant Thornton International Business Report (IBR) for Q3 2025 shows that optimism among mid-market businesses has risen modestly since the previous quarter, yet continues to trail ASEAN and global averages. Limited confidence and cautious investment are leaving Thailand behind its regional peers as growth slows and competitiveness weakens.

In recent months, I’ve written about what it takes to create real momentum within organisations: how leadership, structure, process, and culture each play a role in determining whether the strategy translates into performance. But as we enter the final quarter of the year, I find myself reflecting on something even more fundamental.

This tax news will be of interest to: Thai companies that are part of multinational enterprise (MNE) groups and engage in intercompany transactions. In our Part 3: we have provided guidance on how companies can minimise risks during a tax/TP audit related to intra-group services, as well as examples of evidence and supporting documents. In this article, you will find guidance on how to minimise risk related to royalty transaction.

Thailand stands at a crossroads. Once powered by a young and growing population, the country now faces fewer births, a rising elderly population, and a rapidly shrinking workforce. This is not a distant problem but one already reshaping the economy, society, and future of the nation. The question is not when the demographic crisis will occur, but whether Thailand can adapt quickly enough to survive.

Business leaders in Thailand are navigating a climate of uncertainty. Many trust the strength of their own companies, but confidence in the national economy has weakened. Political disruption, tariffs, and regional tensions have left the outlook fragile and the future unclear.

Thailand is facing a rising threat to its future workforce. Brain drain, the movement of skilled people abroad for better pay, opportunities and quality of life is easier than ever in a globalised world, and its effects on Thailand are already visible. As younger generations enter the job market, society and workplaces must recognise their changing needs and respond appropriately, as coupled with the country’s demographic pressures, the need to keep and grow a strong workforce has never been greater. The question is clear, will Thailand make the changes needed to reverse brain drain, or will it keep watching its skills slip away.

Last month, we talked about structure, how the way you organise your business should serve your strategy, not the other way around. But there’s something even more invisible, yet equally critical, shaping whether strategy turns into real results. And that is culture.

Thailand’s newly amended Organic Act on Anti-Corruption (No.2) B.E. 2568 (2025) marks a significant shift in corporate compliance expectations. With expanded whistleblower protections and stricter enforcement mechanisms, companies operating in Thailand must act swiftly to align their internal controls and reporting systems with the new legal landscape.

Cloud & Software Services and Withholding Tax: Where Does Thailand Draw the Line?

Last month, I wrote about how the right leaders, those who truly move the needle, are rarely out there looking for jobs, but they are always listening for the right opportunity. Attracting such high-impact leaders is a powerful step forward, but it is only half the battle. Once those leaders join, the real question emerges: is your organisation designed to let them succeed?

Thailand continues to be one of Southeast Asia’s most attractive destinations for investment and business expansion. With its strategic location, robust infrastructure, and supportive regulatory environment, the country offers significant opportunities for both local and international enterprises. However, navigating the complexities of a foreign market requires more than ambition—it demands insight and preparation. Our Doing Business in Thailand 2025–2026 guide provides a comprehensive overview of the Thai business landscape, covering everything you need to know to establish and grow your operations successfully

This tax news will be of interest to: Thai companies that are part of multinational enterprise (MNE) groups and engage in intercompany transactions. In the TP series Part 1 & Part 2: we have highlighted the potential red flags and how to deal with transfer pricing (TP) audit. The main focus of the Thai Revenue Department (TRD) is on intra-group services, which we will cover in this article.

Thailand’s Business Confidence Falls Sharply Amid Rising Pressures and Global Headwinds Q2 2025 Grant Thornton IBR shows slowing optimism and investment intentions across the mid-market Bangkok, Thailand, July 2025 – Business confidence among Thailand’s mid-market firms continued to decline in Q2 2025, with reduced expectations across revenue, exports, and employment – despite solid GDP growth and an impressive export performance in the first quarter. The second half of the year is going to be much more challenging with GDP growth continuing to fall. According to the latest Grant Thornton International Business Report (IBR), conducted between 16 April and 29 June 2025, Thai mid-market businesses are navigating a more uncertain economic landscape. The percentage of leaders “very confident” in economic improvement dropped sharply to 19%, down from 31% in Q1. A plurality of respondents (36%) are now “unsure,” while 17% report having no confidence at all.

In Thailand’s fast-moving business environment, one truth is quietly shaping the success of transformation and growth: the leaders who can truly move the needle, those who can drive change, inspire teams, and navigate complexity, are rarely the ones applying for roles. They’re not browsing job boards. They’re not polishing their resumes. They’re deep in the business of leading. But they are listening for the right opportunity, at the right moment, delivered by someone they trust.

Building a Sustainable Business – 360 Degrees explores six key pillars for sustainable growth, combining strategic insights, best practices, and real-world examples to help businesses build resilience and thrive in an uncertain economy.