BangkokPost-Apr 20
Amid lingering resentment among some Cambodian customers, a number of Thai business operators have temporarily halted operations in the neighboring country’s market. More than three months have passed since the ceasefire between Thailand and Cambodia ended the 2025 border clashes, yet nationalist sentiment remains strong on both sides of the border. News outlets and social media influencers from both countries continue to promote nationalist narratives. Thai businesses with exposure to the Cambodian market now face two major obstacles: an effective border closure that has halted exports, and a boycott of Thai products by some Cambodian consumers. Thailand’s border trade with its four neighbors totaled 62 billion baht in February 2026, according to the Ministry of Commerce’s Department of Foreign Trade. Border trade with Malaysia was worth 24.4 billion baht, followed by Laos at over 23.8 billion baht, Myanmar at 13.8 billion baht, and Cambodia at zero baht, according to a press release issued by the Department of Foreign Trade. Thai businesses have adopted varied strategies regarding the Cambodian market. Some have chosen to exit entirely, while others are temporarily withdrawing and adopting a wait-and-see approach. In February, SET-listed Major Cineplex Group Plc, Thailand’s largest cinema operator, sold its Cambodian business. Major Holding International Co Ltd, a subsidiary of SET-listed Major Cineplex Group Plc, disposed of all 7,000 ordinary shares, equivalent to a 70% stake in Major Platinum Cineplex (Cambodia) Co Ltd, for a total of US$5.14 million to Sabay Digital Group Pte Ltd. The decision was made to mitigate the impact of escalating geopolitical tensions and changes in consumer behavior in Cambodia. “In 2025, revenue from operations in Cambodia declined significantly, from 533 million baht in 2024 to 380 million baht in 2025, a 29% drop year-on-year, primarily due to border conflicts and public campaigns discouraging support for Thai goods and services,” the filing stated. SET-listed Thai President Foods Plc, the producer of Mama instant noodles, has removed the Cambodian market from its 2026 revenue projection, Pun Paniangvait, the company’s general manager, told the Bangkok Post. Read more at: https://www.bangkokpost.com/business/general/3240098/thai-firms-exit-cambodia-amid-tensions?tbref=hp.
