Thailand’s slow economic recovery Author: Juthathip Jongwanich, Thammasat University Thailand’s economic performance in the third quarter of 2020 showed promising signs of recovery amid the ongoing COVID-19 pandemic. The contraction in GDP fell to 6.4 per cent year-on-year, down from 12 per cent in the second quarter. Signs of recovery in key industries such as electronics…
Struggling massage parlours petition government for financial assistance Representatives of Thailand’s spa and massage parlour industry are pleading with the government to provide some form of tailored financial aid to offset the impact of Covid-19. Yesterday, the Charawi Association for the Conservation of Thai Massage submitted a letter to PM Prayut Chan-o-cha, who also chairs…
Thai Exports to grow 4% in 2021 Contributing factors include the recovering world economy and the International Monetary Fund’s (IMF) estimate that the world economy will expand 5.2 percent in 2021 from a contraction of 4.4% this year. BANGKOK (NNT) – The Department of International Trade Promotion (DITP) forecasts that exports in 2021 will gradually return…
96% of Foreign Investors still confident in Thailand says BOI The Board of Investment of Thailand’s (BOI) latest survey, shows most foreign investors, estimated at 96%, are still confident in the country, and are willing to bring forward their investments. BANGKOK (NNT) – With the COVID-10 pandemic causing significant disruption around the world including in…
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 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…
Thai economy to grow 3.8% in 2021 says EIC The Economic Intelligence Center (EIC) of Siam Commercial Bank (SCB) has forecast that the Thai economy will grow 3.8 percent next year. BANGKOK (NNT) – With the government’s stimulus measures being the main driver of economic recovery, the Economic Intelligence Center (EIC) of Siam Commercial Bank…