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Despite an improved GDP growth forecast propelled by improving global economic growth and continued government stimulus packages, domestic demand will be slow to recover because of sluggish foreign tourist revenue and permanent damage, says an economic think tank.
Thailand s economy is forecast to expand by 2.6% this year, up from 2.2% projected previously, as export recovery is anticipated to be faster than expected due to improving global economic growth, according to the Economic Intelligence Center (EIC), a strategic unit of Siam Commercial Bank. Looking forward, an export recovery is likely to continue, supported by improving global growth based on vaccination progress and stimulus packages, especially in the US, said Yungyong Thaicharoen, first executive vice-president of the EIC.
Industrial estates set to expand
Colliers projects growth at 5-10% in 2021 buoyed by state investment and stimulus
published : 8 Feb 2021 at 06:44 The Map Ta Phut Industrial Estate in Rayong falls within the Eastern Economic Corridor.
Despite risks from the travel ban, a delay in vaccine distribution and new tensions in US-China trade, the Eastern Economic Corridor (EEC) and e-commerce are expected to continue spurring industrial property growth, in part thanks to stimulus plans and government investment in infrastructure and transport projects.
Phattarachai Taweewong, director of research and communications at Colliers International Thailand, said the industrial estate business in 2021 should improve compared with last year.
SCB has continued to increase its loan portfolio of Chinese businesses investing in Thailand.
China s foreign direct investment (FDI) in Thailand is expected to increase significantly over the next few years as Chinese investors are planning to expand their local footprint, says a survey by Siam Commercial Bank (SCB).
But Thailand needs to improve competitiveness and productivity to attract FDI, said the bank s economic intelligence unit.
The survey is based on responses from 170 Chinese investors who are involved with FDI-related businesses.
Some 61% of respondents are Chinese investors investing and doing business in Thailand, said Manop Sangiambut, chief financial officer and first executive vice-president.
Seizing opportunities in crisis
The stock crash still saw some nimble investors recover, write Darana Chudasri, Nuntawun Polkuamdee and Somruedi Banchongduang
published : 29 Dec 2020 at 04:02
5 2020 marks one of the most volatile years in stock history as the pandemic led to global economic uncertainty. Thanarak Khunton
This year saw an unexpected stock market crash followed by predictable trends that allowed savvy investors to make back their investments by betting on technology, healthcare and the timeline of a new vaccine.
Markets saw massive trading volume around the world as those with money sought to find the best yield amid a pandemic, even as the global economy shut down at times.
The government is considering a proposal from travel agents for extra holidays next year to aid the ailing domestic tourism sector, which is being further savaged by the domestic reemergence of the coronavirus.