As further evidence of the Thai banking sector’s resilience to the global economic crisis, all but two institutions releasing their 2009 financial results managed to end the year with higher earnings than in 2008.
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Most thai banks have a better 2009
Recent Trade Reforms in Thailand
Recent crashes in Thailand’s GDP and export markets, plus the drop in tourism fuelled by recession and last year’s domestic political turmoil, have dispelled illusions that the country is insulated from the effects of the global downturn. Numerous indicators of economic health are hitting the red, foreign investment is evaporating, unemployment is surging, and credit lines are freezing up. Thailand’s government still says there is a possibility of positive growth this year, despite facing a rougher ride than in the 1997 Asian financial crisis as conditions infest the real economy on a broader scale.
Rapid industrial expansion and population growth have outpaced environmental management, resulting in sharply increased pollution levels (e.g. solid and hazardous waste, air, noise, and water). For example, fine particles in Bangkok’s air exceed WHO standards by 2.5 times, and other air pollutants are also causing major health impacts. Overall, it is estimated that air and water pollution costs the country 1.6 – 2.6 percent of GDP per year.
Recent Trade Reforms in Thailand
Imports from new ASEAN member countries also have lower import duties. As part of ASEAN Integration System of Preferences (AISP), tariffs of products such as vinegar, chili, certain vegetables, wood products, and electronic switchboards imported from Cambodia, Myanmar and Lao PDR are either reduced or abolished from September 2008.
Most thai banks have a better 2009
Infrastructure plays a crucial role in economic development and enrichment of living standards. Various stages of economic development require different levels of infrastructure upgrades or enhancements to ensure infrastructure in fact facilitates economic activities. Thailand has been facing a series of infrastructure challenges, both new and well-established. To name a few: there is a need for infrastructure services to catch up with economic development and international competition, manage the growth in urban areas, respond to global energy prices, and ensure basic services for the poor.
