Connect with us
CGIF-10th-Year-Anniversary

Business

Flood shuts down 10,000 factories, 660,000 unemployed

Thailand’s worst flooding in memory has caused damage to almost 10,000 factories, forcing some 660,000 employees temporarily into unemployment, according to Deputy Industry Minister Suphap Kleekachai.

Aishwarya Gupta

Published

on

Flooded Canon factory at an industrial estate in the hard-hit province of Pathum Thani, north of Bangkok

Thailand’s worst flooding in memory has caused damage to almost 10,000 factories, forcing some 660,000 employees temporarily into unemployment, according to Deputy Industry Minister Suphap Kleekachai.

Mr Suphap said that a total of 9,859 factories have closed – both inside and outside the industrial estates affected by the worst flooding — while the disaster has affected at least short-term and perhaps longer-term unemployment for 660,000 workers who were employed by the factories. Seven industrial estates in Ayutthaya and Pathum Thani — Saha Rattana Nakhon, Bang Pa-in, Rojana, Hi-Tech, Factory Land, Nava Nakorn and Bangkadi — were earlier forced to close due to the deep floodwater.

9,859 factories have closed,  660,000 workers unemployed

Lat Krabang Industrial Estate in Lat Krabang district and Bangchan Industrial Estate in Min Buri district are on high guard to fight the deep floodwater expected to flow into the areas in the next few days.

Flooded Canon factory at an industrial estate in the hard-hit province of Pathum Thani, north of Bangkok

Flooded Canon factory at an industrial estate in the hard-hit province of Pathum Thani, north of Bangkok. Picture: MCOT News

He said 838 factories in the seven industrial parks and estates in Ayutthaya and Pathum Thani were hit by the flood and that 382,693 workers were unemployed which caused direct damage of nearly Bt500 billion, while indirect damage could add another Bt300 billion to the losses.

Mr Suphap said the ministry would set up a working group to inspect all factories to evaluate the damage incurred. Details and exact costs of the collective damages wil be submitted to the government for its consideration of extending assistance.

via Nearly 10,000 factories damaged by flood.

Comments

Business

Online intellectual property dispute platform to go live next year

The online dispute settlement platform for intellectual property cases will assist with cases related to copyright, patents, and trademark infringements using digital technology.

National News Bureau of Thailand

Published

on

Pantip Plaza Electronic display

BANGKOK (NNT) – The Department of Intellectual Property has introduced its online dispute settlement services covering intellectual property cases that it developed with the Thai Arbitration Institute.

(more…)
Continue Reading

Business

Thailand pushes for “Ease of Doing Business” reforms

Thailand is in the process of responding to the World Bank’s advice and the “Ten for Ten” proposal by five ambassadors to Thailand, according to Deputy Prime Minister and Minister of Energy Supattanapong Punmeechaow.

Olivier Languepin

Published

on

The government has made improving the business environment in Thailand a key policy by setting a goal to raise the ranking of the ease of doing business to be among the top 20 countries in the world.

(more…)
Continue Reading

Business

Thailand remains in pole position for the highest funds raised across Southeast Asia

Taking the top two spots on the region’s leaderboard this year are Thailand’s Central Retail Corporation Public Company Limited and SCG Packaging Public Company Limited with US$1.77 billion and US$ 1.27 billion funds raised respectively

Pr News

Published

on

By

Thailand’s Central Retail Corporation Public Company Limited raised US$1.77 billion in 2020

THAILAND, 26 November 2020 — Capital markets across Southeast Asia stayed resilient in 2020 despite a host of uncertainties from the evolving global health crisis to the worsening US-China trade tensions and the impact of the US presidential elections.

(more…)
Continue Reading
Advertisement

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,413 other subscribers

Trending