Public, private sectors optimistic on Thailand’s post-Covid-19 outlook

By THE NATION

 

 

The Thai economy is on a path to recovery after being impacted by the global Covid-19 pandemic and could see further upside as international companies consider Thailand as an investment destination amid the ongoing US-China trade war, experts said at a forum.

 

Thailand’s economic expansion could be further propelled by growth in sectors including tourism, manufacturing, agriculture, real estate, investments in the country’s Eastern Economic Corridor (EEC), renewable energy and digitalisation, according to a panel discussion at Standard Chartered Bank (Thai)’s "Asean Business Forum: Thailand – Resilient and Ready for Trade".

 

“Over the past several months, Thailand has proved that the country is more than resilient and can persevere when facing both public health and economic challenges. The international communities have recognised Thailand as one of the most viable and trusted countries with strong public health affairs.

 

Certainly, that has led to strong confidence in Thailand as a trusted destination for trade, investment and tourism,” said Boonyarit Kalayanamit, permanent secretary, at the Ministry of Commerce.

 

“Thailand has strong potential to become a regional trade hub. The country’s ideal geographical location and extensive infrastructure typically mean Thailand could serve as a product and distribution centre for Asean countries and beyond,” added Boonyarit in his keynote address.

 

With the US-China trade war still simmering and as a result of the pandemic, international companies are shifting their investments and Thailand has emerged as a target destination.

 

Duangjai Asawachintachit, secretary-general, Thailand Board of Investment (BOI), said to support the potential relocation of investments and to be part of a resilient supply chain, the BOI has implemented a special investment stimulation package in order to tap these investments looking for a safe haven.

 

The EEC has been positioned as a new growth hub of Asean, supporting investments with a focus on sectors using higher technology and knowledge content.

 

“Not only Chinese firms but also American, Japanese, Taiwanese and South Korean companies are relocating their business to this region,” said Kirida Bhaopichitr, director, Economic Intelligence Service (EIS), Thailand Development Research Institute.

 

International tourism, which accounts for around 12 per cent of Thailand’s gross domestic product, is critical to the economic recovery but can only support the rebound if Thailand is reopened to the international market, said Kirida, adding that tourism should be developed to become a higher value industry.

 

“Thailand is one of our most focused countries in the region. The country has set a benchmark in reliable electricity supply, the basis for investment, with digital infrastructure being put well in place,” said Markus Lorenzini, president and CEO, Siemens Energy Limited Thailand (Cambodia, Laos & Myanmar).

 

As for power generation and related power transmission, Siemens is cautiously optimistic about future demand and future needs of energy infrastructure given the prospects for the EEC and the export industry, digitisation, renewable electricity and cross border electricity trade, added Lorenzini.

 

Source: https://www.nationthailand.com/news/30395118

 

-- © Copyright The Nation Thailand 2020-09-25

 

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no, it isnt on a path to recovery yet,

government havnt stopped waging war on its own economy yet

5 hours ago, webfact said:

With the US-China trade war still simmering and as a result of the pandemic, international companies are shifting their investments and Thailand has emerged as a target destination.

 

And again, Thailand the center of the Universe.

1 hour ago, Paiman said:

 

And again, Thailand the center of the Universe.

Not really the center, more like  Little China ver.2.0

7 hours ago, webfact said:

 

Thailand has strong potential to become a regional trade hub

Regional? Why not the trade hub of the whole world? It's only fantasy anyway. 

" Art of War "  when it bad or going to get bad they say it with a straight face it is all good!  ????

18 hours ago, webfact said:

Thailand has strong potential to become a regional trade hub.

Sure, Vietnam and Malaysia want to bow their heads to almighty Thainess.  Vietnam actually has a border with China.   Thailand needs to rely on Laos.  How much does that government even like Thailand?  Sycophants looking for a pat on the head from the Thai elites and cha cha.   Thailand's agriculture, fishing, auto parts and chip packaging will sustain the wealthy while the average Thai gets crumbs. 

19 hours ago, webfact said:

The Thai economy is on a path to recovery

Well, I talk about it, talk about it
Talk about it, talk about it
Talk about, talk about
Talk about movin'

 

Won't you take me to
Funkytown? ????

Edited September 26, 20205 yr by meechai

Hope springs eternal in the human breast,

Man never is, but always to be blest.

Alexander Pope, 18th century

speaking with a friend a few nights ago and she said the economy over there is really bad.

If they keep the borders closed and kill off tourism, I really doubt that!