The ongoing flood crisis has impacted more than 10,000 businesses in 15 provinces, affecting over 350,000 workers, according to the Labour Ministry.
The Department of Labour Protection and Welfare also reported that if the floods continued, 100,000 more workers were at risk of being laid off, explaining that business operators may be unable to rehabilitate their businesses and factories in time and may be unable to continue paying wages in the long run.
Meanwhile, the workers, who were not fully paid, will be forced to find new jobs. Some of them may join the ranks of the unemployed.
In hard-hit Ayutthaya, 616 businesses and 195,406 workers were affected.
However, four at-risk industrial zones which have not yet hit by floods include Navanakorn Industrial Estate and Bangkadee Industrial Estate in Pathum Thani, Ladkrabang Industrial Estate, and Bangchan Industrial Estate in Bangkok. (MCOT online news)
Thailand supplies around 60% of the world’s HDDs, with other Southeast Asian countries like Malaysia and Singapore picking up the slack. So any shutdown of factories in Thailand has a ripple effect on the computer industry.
Large Shopping Malls in Bangkok Will Be Closed until July 25th
Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.
Downside risks loom for Thai economy due to Prolonged COVID-19 Outbreak
The most important issue for the Thai economy at present would be the procurement and distribution of appropriate vaccines adequately and timely.
The Bank of Thailand (BoT) has revealed that Thailand’s economy faces significant downside risks, because a prolonged COVID-19 outbreak could cause the economy to underperform the baseline projection, squeezing business liquidity and slowing employment.(more…)
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