Business mergers in Thailand hit record high in 2024
Mergers surged to 590 billion baht, almost triple the value recorded in 2023, with transport, medical and insurance sectors leading the growth
Business mergers in Thailand last year were worth 590 billion baht in 2024, marking a significant surge from 200 billion-plus in 2023, the Trade Competition Commission of Thailand (TCCT) reported on Wednesday.
The transport and logistics sector accounted for the highest merger value at 180 billion baht, followed by the medical sector (120 billion baht) and the insurance sector (88 billion baht).
TCCT secretary-general Wissanu Wongsinsirikul attributed this growth to intense competition driving business expansion and projected further increases in merger activity.
However, he reminded business operators of the requirements under the 2017 Trade Competition Act, which mandates TCCT approval for mergers that may lead to market domination.
“Operators should carefully study the law before merging to avoid inadvertent violations,” he warned.
Since the enforcement of the Act, the TCCT received 211 trade competition complaints, including 34 filed in 2024. Of these, 129 were related to unfair trade practices, 64 related to market domination, 17 to mutual agreements and one to the violation of merger conditions.
Wissanu added that the TCCT has established rules to ensure that mergers benefit all business operators and protect the economy and consumers. The commission retains the authority to inspect all mergers to safeguard fair competition in Thailand’s economic system, he added.
