Thai interest rate unchanged but central bank cuts GDP outlook Bank of Thailand trims 2021 growth forecast to 3.2% due to sluggish tourism BANGKOK (Reuters) — Thailand’s central bank left its key interest rate unchanged at a record low on Wednesday but downgraded its 2021 economic outlook as the tourism-reliant country deals with a fresh…
Thailand’s economic outlook for 2021 The Thai economy will grow next year after contracting by almost 10% this year. Next year, the Thai economy is expected to expand 3 to 4% from this year. It will not be until the end of 2022 before the Thai economy returns to its pre-Covid level of 2019. However,…
Economy to lose billions of baht from Covid-19 lockdown – Kasikorn Research Centre The economy will lose billions of baht following the Covid-19 outbreak in Samut Sakhon, just southwest of Bangkok, according to Kasikorn Research Centre. Shutting down the seafood industry in the province, calling off New Year parties in Bangkok and trips being cancelled…
Thailand aims to be the new APAC medical hub leveraging smart health Relying on telemedicine and emerging smart health technologies can help Thailand accelerate towards its goal of becoming an APAC medical hub A number of Southeast Asian (SEA) economies are speeding up their digitization drives on the road to pursuing the Industrial Revolution 4.0, or…
Thailand BOI Okays Steps to Accelerate Investment and Promote Digital Adoption The Thailand Board of Investment (BOI) on Monday approved a series of measures to accelerate investments, particularly in target industries and to encourage business to adopt digital technologies. BANGKOK, Dec. 21, 2020 /PRNewswire/ — “The package to promote large scale projects was designed to boost investment…
Fund Inflows to Propel Thai Stocks Already at Record Valuations (Bloomberg) — Thai stocks, already trading at record-high valuations, are poised for further gains as foreign funds invest on optimism Covid-19 vaccines will help the tourist-dependent economy recover, according to Thailand’s biggest private money management firm. The SET Index could rise by as much as…
Thailand plans large-scale 5G adoption by next year Thailand could adopt a large-scale 5G network by next year. The fifth generation wireless technology has higher speeds, lower latency and the ability to connect more devices. The National Broadcasting and Telecommunications Commission, or NBTC, says they are ahead of schedule. Along with the mass adoption of…
Bangkok’s commercial property market struggles through 2020 This year Thailand’s developers had to work around the effects of government lockdowns and restrictions because of the Covid-19 pandemic. Indeed significant changes have occurred to the commercial property market in Thailand. CBRE Research reports that the Bangkok office market suffered a significant change in the net up-take,…
Thailand Tops Bloomberg’s Emerging Markets List Bloomberg surveys show that analysts are penciling in high rates of growth next year for some of those that have been hardest-hit in 2020. Thailand and Russia are well placed to be among the emerging-market standouts that could beat expectations next year, according to a Bloomberg study of 17…
Asian shares skid despite US economic stimulus deal In Asia, new COVID-19 outbreaks have led authorities to impose lockdowns or other restrictions in Australia and Thailand Shares started the week out on a sour note in Asia as worsening coronavirus outbreaks overshadowed news that US lawmakers finally have a deal on more support for American families…